objective function
the linear mathematical equation that
states the purpose of a linear programming problem
Related Terms: ...
Then, express the objective function, which is to maximize total contribution margin (TCM), as:
TCM = $25A + $40B
Formulate the constraints as inequalities: ...
Quadratic programming Variant of linear programming in which the objective function is quadratic rather than linear.
A function constructed in solving economic models that include maximization of a function (the "objective function") subject to constraints.
certainty equivalence principle: Imagine that a stochastic objective function is a function only of output and output-squared.
Variant of linear programming in which the objective function is quadratic rather than linear.
The portfolio return variance in the objective function can be written as σ2 = XTVX, where V is the positive definite covariance matrix of the individual assets' returns.
Shadow prices indicate the rate at which optimal objective functions (i.e. profit maximization) change as constraints increase or decrease by one unit. A shadow price is an imputed marginal value assigned to individual resources by linear programs.
Achieving the best possible solution to a problem in terms of a specified objective function.
Option ...
 See also: Linear programming, Constraint, Expense, Saving, Optimal
  
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