Mathematical programming

Mathematical programming,

Definition of Mathematical programming:

  1. The use of a computer program to choose the best alternative from a set of available options. Mathematical programming uses probability and mathematical models to predict future events. It is used in investing and in determining the most efficient way to allocate scarce resources. Also called optimization.

  2. The theory and application of mathematical methods for choosing, from a defined set of alternatives, the solution that best satisfies predetermined criteria.

Meaning of Mathematical programming & Mathematical programming Definition