🎴 Flashcard Mode
Stochastic Optimization: Chance Constraints and Risk Management
Card1 / 15
Mastered0
Review0
QuestionClick to flip
In a stochastic optimization problem, what is the purpose of a chance constraint?
AnswerClick to flip back
A
To limit the probability of violating a particular constraint.
💡 Explanation:
A chance constraint is used to control the risk associated with violating a constraint. It specifies that the probability of violating the constraint should be less than or equal to a predetermined value.