Where is it Used?

Where is it Used?

• Optimization Models
  • most common application of mathematics
  • systems that are stable and have controlled variables
  • Examples: buisness management, government agencies, farmers, and physicians
  • mathematical modeling finds the maximum and / or minimum values of these systems

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optimization models

- most common application of MM

- maximize the good, minimize the consequences

- buis. man: max profit while min costs

- govn. agencies: set standards to minimize environmental costs of producing consumer goods

- farmers: space planting to max yield

- physicians: regulate medication to minimize side-effects