Lagrangian Statistical Management of Inequality Constraints
Session
Management, Business and Economics
Description
In the application of multipliers according to Lagrange, it is important to note that the Lagrange in question enables us not only to determine the optimal value of the objective function, but also that the value of the multiplier also defines the "intensity" of the change of the variable (related variables). In many engineering and economic analyses, such a definition can be of particular importance. Therefore, in a way, the value and sign of the Lagrange multiplier defines the "behavior" of the profit function in terms 2of increasing and decreasing the profit function. It should also be determined that the Lagrange with multidimensional Lagrange factors adequately completes the engineering-economic analysis.
Keywords:
Lagrange with multidimensional Lagrange multipliers. Optimal model, Objective function, Managerial-statistical analysis
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-550-95-6
Location
UBT Lipjan, Kosovo
Start Date
28-10-2023 8:00 AM
End Date
29-10-2023 6:00 PM
DOI
10.33107/ubt-ic.2023.154
Recommended Citation
Elezaj, Shaqir and Elezaj, Rame, "Lagrangian Statistical Management of Inequality Constraints" (2023). UBT International Conference. 7.
https://knowledgecenter.ubt-uni.net/conference/IC/MBE/7
Lagrangian Statistical Management of Inequality Constraints
UBT Lipjan, Kosovo
In the application of multipliers according to Lagrange, it is important to note that the Lagrange in question enables us not only to determine the optimal value of the objective function, but also that the value of the multiplier also defines the "intensity" of the change of the variable (related variables). In many engineering and economic analyses, such a definition can be of particular importance. Therefore, in a way, the value and sign of the Lagrange multiplier defines the "behavior" of the profit function in terms 2of increasing and decreasing the profit function. It should also be determined that the Lagrange with multidimensional Lagrange factors adequately completes the engineering-economic analysis.