Why optimization is important

In our lives, people face all kinds of choices. In a sense, we implement, either consciously or subconsciously, various kinds of implied optimization procedures. For example, when a high school junior or senior is looking for a college, they might have many choices, such as good schools, local schools, public schools, or private schools. When making a decision with a couple of offers, these high school students usually have some objectives in their mind. These objectives might include the ranking and cost of attending a school, scholarships, the reputation, and name recognition of the program, or even the fame of the football team. For corporations, they have to make all kinds of optimal or reasonable decisions. For instance, what kinds of products they should produce, what are the quantities and at what prices, and to whom they should target. Since...