Optimisation and Regression Flashcards
What are independent variables
Independent variables are input variables that can be freely changed or manipulated, e.g. age of a person
What are dependent variables
Dependent variables are output that cannot be changed freely without altering the inputs, e.g. temperature of a room after adjusting the thermostat
What are categorical variables
A categorical variable is a characteristic that in not quantifiable, e.g. type of fruit
What are nominal variables
A nominal variable is a categorical variable where there is no natural order or hierarchy, e.g. gender of person
What are ordinal variables
An ordinal variable is a categorical variable where there is a natural order or hierarchy, e.g. Education level
What are numeric variables
A numeric variable is a characteristic that is quantifiable, e.g. Number of items sold
What are continuous variables
A continuous variable is a numeric variable that takes real values of infinite precision, e.g. Time taken to complete a task (in seconds)
What are discrete variables
A discrete variable is a numeric variable that takes finite options, e.g. number of cars in a car park
What is a function
A function defines the relationship between inputs and output(s)
How is a function like a mathematical model
A function is like a mathematical model because it tells how the output(s) would vary given a change in inputs
What is the definition of optimization
Optimization is the process of finding the best option or solution form a set of alternatives
What is the goal of optimization
The goal of optimization is to find a specific vector of input or independent variables that produce a desired output or dependent variable value
What are the input variables in optimization
The input variables in optimization are the independent variables, which can be free changed or manipulated
What is the dependent variable in optimization
The dependent variable in optimization is the output, which cannot be changed freely without altering the inputs
What is the objective of optimization
The objective of optimization is to maximize or minimize a particular objective function, which is a mathematical expression that represents the relationship between the input and output variables
What are some examples of optimization problems
Finding the most profitable investment portfolio given a set of assets and market conditions
Designing an aeroplane wing that minimizes drag and maximise lift
Determining the optimal production schedule for a manufacturing plant to minimize costs and maximise profits
What are some common techniques used in optimization
Trial and Error
Geometric
Metaheuristics
Data-driven
What is the trial and error approach
The trial and error approach involves trying different solutions and observing the outcome to find the best option
What is the geometric approach
The geometric approach involves generating new points using some form of geometric knowledge, such as rotating or reflecting a point
What is the calculus approach
The calculus approach involves evaluating the function and its derivatives to direct the search in the direction that minimises or maximises the function
What are metaheuristics
Metaheuristics are problem-solving techniques that draw inspiration from natural processes to find solutions. Examples include simulated annealing, genetic algorithms, and particle swarm optimisation
What is the data-driven approach
The data-driven approach involves using information gathered from previous solutions to improve search for the best option. This can include machine learning or statistical modelling to make predictions based on past data