The stochastic root-finding problem is that of finding a zero of a vector-valued function known only through a stochastic simulation. The simulation-optimization problem is that of locating a ...
This course studies approximation algorithms – algorithms that are used for solving hard optimization problems. Such algorithms find approximate (slightly suboptimal) solutions to optimization ...
Optimization seeks to find the best. It could be to design a process that minimizes capital or maximizes material conversion, to choose operating conditions that maximize throughput or minimize waste, ...