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10 Cards in this Set
- Front
- Back
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What are nonlinear programming problems?
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When problems fit the general linear programming format but include nonlinear functions, they are referred to as nonlinear programming problems.
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What is difficult in nonlinear programming?
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It is often difficult, if not impossible, to determine an optimal solution, even for a relatively small problem.
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What are global and local optima?
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Local optima is the highest point in an immediate area. Global optima is the highest point of all.
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What is classical optimization?
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Classical optimization is the use of calculus to determine the optimal value of a variable.
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What is the difference between an unconstrained optimization model and a constrained optimization model?
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An unconstrained optimization model consists of a single nonlinear objective function and no constraints. A constrained optimization model has one or more constraints.
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Be able to compare and contrast the differences between linear and nonlinear programming.
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A nonlinear programming model has the same general form as the linear programming model except that the objective function and/or the constraint(s) are nonlinear
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What is different about using solver to obtain a solution to a nonlinear programming problem?
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The make sure linear box in the options is not checked.
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What greatly complicates the process of finding a solution to a nonlinear programming problem? What aggravates the difficulty?
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The solution of a nonlinear programming problem is not always on the boundary of the feasible solution space.
This greatly complicates the process of finding a solution to a nonlinear programming problem, and this difficulty is aggravated by an increased number of variables and constraints and by nonlinear functions of a higher order. |
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What does the Lagrange multiplier tell you?
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Lagrange multiplier provides the dual value of the labor resource.
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What is covariance used for in the investment portfolio selection problem discussed in the chapter?
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Covariance, which is a measure of correlation, may also be used to reflect risk (of not diversifying).
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