Applications Of R – Packages (libraries) In Optimization
R is one of the widely used statistical software that analyse varying amounts
of data and execute both simple and complex commands dealing with different data types. Optimx is one of the over 8000 packages and is used in R
to help in the computation of optimization problem. In order to start using
Optimx one downloads it from CRAN website and loads it into R alongside
its subsets such as optim and quadprog The purpose of this research is to
show how to apply concepts of mathematical optimization on solving real
life problems. In this project we try to solve vendor’s problem on how many
units of banana that will yield maximum profits using optimization. The first
section introduces the problem and how we endeavour to solve it. We also
discuss and analyse our results in the last two sections. The anticipated outcome of this research is to incorporate the use of optimization techniques in
solving problems in the business sector. This information is likely to impact
on the level of income by both small scale and large scale businesses