15.053:    Optimization Methods
                      in Business Analytics

Instructors:   Tom Magnanti and Jim Orlin

 

 

 

 

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Syllabus

Subject reviews:
    Spring 2021
    Spring 2022

15.053 Project

 

OCW (2013)

 

15-2 Major

 

 

Applications and the course project.

Optimization models and methods can be applied to management, engineering, and science, and more.  Within 15.053, we show how to optimize problems within machine learning and statistics, sports analytics, finance, operations, marketing, as well as other domains.

Students have an opportunity to apply what they learn in 15.053 in their course project.  Students often choose projects of importance to MIT or of personal interest to themselves. 

The following are some examples of course projects for 15.053 from past years.

  • Sports analytics.   

1.     Determine the optimal baseball batting order for the Boston Red Sox

2.     Determine an optimal strategy for the last 30 seconds of a basketball game

3.     Determine an optimal brackets for March Madness.

  • MIT related optimization.  

1.        What is the optimal assignment of freshmen to dorms?

2.        For a given student in major X, determine the best choice of courses during the remaining semesters at MIT so as to satisfy prerequisites, satisfy major requirements, balance workloads, and maximize the total "utility" of a given student.

3.        Optimally assign little sisters to big sisters in a sorority. (Little sisters are the newest members of the sorority; big sisters are the continuing members.)

  • Some other projects

1.       Determine the minimum number of gates needed at Logan to meet a fixed schedule.

2.       Determine the least cost way of providing wireless internet coverage to a country (of your choice).

3.       Determine the least cost way of delivering vaccines to a country (of your choice).

4.       Optimally locate electric car charging stations on highways in Boston.

5.       Determine the optimal way to wager in Final Jeopardy.

  •    In the past, students have chosen a variety of topics that interested them.   (1) What is the smallest number of gates needed at Logan to meet a fixed schedule?  (2) What is the least cost way of providing wireless internet coverage to a country?  (3)  What is the least cost way of delivering vaccines to a country? (4)  Where should Zipcars be located in Boston and Cambridge?   (5) Where on highways should electric car charging stations be located?  
  • Some other past topics (either proposed by the instructor or selected by previous project groups).

1.     What is the optimal wager in final Jeopardy?

2.     What is the optimal portfolio of stocks and bonds?

3.     What is the optimal assignment of tasks to fraternity members over the semester?