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Understanding Optimization Concepts

Optimization involves defining an objective function to maximize or minimize. An optimization problem must have an objective function that is either an economic metric like profits or costs, or a technical metric like system yield. For a problem to be optimized, it must have variables that can be adjusted to find multiple possible solutions. Most optimization problems also involve tradeoffs between variables that influence the objective function in opposing ways. The goal is to find the best balance of variables to achieve the optimal objective value.

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Ashish Parihar
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3 views25 pages

Understanding Optimization Concepts

Optimization involves defining an objective function to maximize or minimize. An optimization problem must have an objective function that is either an economic metric like profits or costs, or a technical metric like system yield. For a problem to be optimized, it must have variables that can be adjusted to find multiple possible solutions. Most optimization problems also involve tradeoffs between variables that influence the objective function in opposing ways. The goal is to find the best balance of variables to achieve the optimal objective value.

Uploaded by

Ashish Parihar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd

OPTIMIZATION

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[Link] AE batch(123701-123712)

WHAT IS OPTIMIZATION?

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Essential features of optimization problem


An objective function is defined which needs to be either maximized or minimized. The objective function may be technical or economic. Examples of economic objective are profits, costs of production etc.. Technical objective may be the yield from the reactor that needs to be maximized, minimum size of an equipment etc.. Technical objectives are ultimately related to economics.

Underdetermined system: If all the design variables are fixed. There is no optimization. Thus one or more variables is relaxed and the system becomes an underdetermined system which has at least in principle infinite number of solutions. Competing influences: In most of the optimization problems, there would be some set of variables which has opposite influence on the objective function.

Underdetermined system: If all the design variables are fixed. There is no optimization. Thus one or more variables is relaxed and the system becomes an underdetermined system which has at least in principle infinite number of solutions. Competing influences: In most of the optimization problems, there would be some set of variables which has opposite influence on the objective function.

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