In an optimisation problem we are only concerned about maximizing profits.
In an optimisation problem we are only concerned about maximizing profits.
The correct option is B False
In day-to-day life we come across different types of situations such as finding the shortest time to reach from work to home or deciding the food items you can buy when you have slightly less cash in your pocket or finding the ways to maximize profit and minimizing cost for a business
When we represent these problems mathematically, if we are interested in maximizing or minimizing any of the functions or variable, we call such problems optimization problems. One point to note here is that, it is not always about maximizing things. Sometimes we want to minimize things as well, such as minimizing the time to reach another place.
So the statement ‘In an optimisation problem we are only concerned about maximizing profits’ is wrong
In day-to-day life we come across different types of situations such as finding the shortest time to reach from work to home or deciding the food items you can buy when you have slightly less cash in your pocket or finding the ways to maximize profit and minimizing cost for a business
When we represent these problems mathematically, if we are interested in maximizing or minimizing any of the functions or variable, we call such problems optimization problems. One point to note here is that, it is not always about maximizing things. Sometimes we want to minimize things as well, such as minimizing the time to reach another place.
So the statement ‘In an optimisation problem we are only concerned about maximizing profits’ is wrong
