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What is an optimizing strategy?

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  1. Strategy of choosing the best possible solution considering all parameters
  2. Strategy of choosing a compromise solution
  3. Strategy of choosing the least cost solution
  4. Strategy of choosing a solution on the basis of precedents

Answer (Detailed Solution Below)

Option 1 : Strategy of choosing the best possible solution considering all parameters
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Explanation:

  • Finding an alternative with the most cost-effective or highest achievable performance under the given constraints, by maximizing desired factors and minimizing undesired one.
  • In comparison, maximization means trying to attain the highest or maximum result or outcome without regard to cast or expense.

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