Optimization analysisPrepared by

Salah Amean Ahmmed Saeed

Background

• As a person, everyday we make certain decision• For example

• what to wear, what to eat and where?

• Eating decision• What should I eat for my breakfast, lunch and dinner • Should I eat in the student canteen or should I go out?• What restaurant, fast food, Korean, Chinese or even just prepare at home

• What is the best in term of • Nutrition• Price• Taste • Time consuming, etc

• To make sure, I have a good nutrition and some money saved for the future.

What is it?

• Optimization Analysis:- Is a more complex extension of goal-seeking analysis.

• Instead of setting a specific target value for a variable, the goal is to find the optimum value for one or more target variables, given certain constraints.

• Then one or more other variables are changed repeatedly, subject to the specified constraints, until the best values for the target variables are discovered

Optimal value

• "Optimal" simply means best.

• In some scenarios, it means the cheapest lunch

• In other cases it could mean the maximum value of nutrition

• Either way, it's the value that's somehow considered the best.

Purpose of this analysis

• Goal is to find the optimum value for one or more target variables given certain constraints • One or more other variables are changed repeatedly

until the best values for the target variables are discovered• Finding the optimum value for one or more target

variables, given certain constraints. • Example eating a bibimbab that costs around 4thousand won or

eating kimbab that costs.• These variables will be modified to get the best (in term of price,

nutrition, etc)

Optimization methods

• One or more other variables are changed repeatedly until the best values for the target variables are discovered

Conclusion

• Optimization analysis is quite similar to the goal seeking analysis in term of aiming to attain certain goal with given constraints.