Summary
Mathematical optimization is the process of maximizing a performance or quality indicator by identifying the best possible value among the set of all feasible options. Optimization problems arise in virtually all human endeavors related to decision making including engineering, economics, sustainability, healthcare, and manufacturing. Instances of such optimization problems are particularly challenging to solve whenever evaluating performance and/or testing for feasibility requires an expensive simulation or experiment whose results may be corrupted by random errors. Bayesian optimization (BO)
