The text-based formulation of an optimization problem should state what three things?
A) decision variables, random variables, and parameters
B) decision variables, objective function, and constraints
C) decision variables, random variables, and constraints
D) decision variables, random variables, and objective function
E) random variables, parameters, and objective function

Question

Quizplus · Accepted Answer

The text-based formulation of an optimization problem should state the decision variables, the objective function that needs to be maximized or minimized, and the constraints on the decision variables that need to be satisfied. Option A is incorrect because random variables are not usually part of optimization problems. Option C is incorrect because random variables are not usually part of optimization problems. Option D is incorrect because random variables are not usually part of optimization problems. Option E is incorrect because parameters are not necessary to state explicitly in the text formulation of an optimization problem.

The Text-Based Formulation of an Optimization Problem Should State What