Optimization

Optimization is everywhere, from business transactions and engineering design to planning your holidays and daily travel routes. Business organizations have to maximize their profits and minimize the costs. Engineering design has to maximize the performance of the designed product while minimizing the manufacturing cost at the same time. Even when we plan holidays we want to maximize the enjoyment and minimize the cost. Therefore, the studies of optimization are of both scientific interest and practical implications and subsequently the methodology can potentially have many applications. This chapter introduces all the important concepts concerning optimization and nonlinear programming.