Question

Question 4: Buying a Nissan Altima over purchasing a Alpfa Romeo. The cost and efficiency of a Nissan is in competition with the cost and efficiency of the Alpha Romeo. The Nissan is a more affordable option while the Alpha Romeo is more expensive to purchase and maintain.

Question 5: In the examples you gave in Question 4, please describe whether the objective functions or goals will be maximized or minimized. Descript how the selected objective functions or goals are competitive to each other. Last, please draw the conceptual Pareto Front with x, and y axis as your real objective function/goal.

Answer 1

Answer to Question 4:

The cost of Nissan Altima is $24300 compared to the cost of Alpha Romeo which is $39450 which makes it expensive. The fuel economy of Nissan Altima is more than Alpha Romeo which make Nissan a fuel effiecient car. Fuel tank capacity of Nissan is more than Alpha Romeo. The rating of Nissan Altima is far better than that of Alpha Romeo. So by comparing both the car it can be easily seen that Nissan Altima is more affordable than Alpha Romeo.

Answer to Question 5:

The objective function in a mathematical optimization problem is the real - valued function whose value is to be either minimized or maximized over the set of feasible alternatives. Here in the above example the objective function will be maximized.