A pig weighting 200 pounds gains 5 pounds per day and costs 45 cents a day to keep. The market price for pigs is 65 cents per pound, but is falling 1 cent per day. a/ When should the pig be sold? What is the optimal profit? b/ What are the sensitivities of the optimal time and optimal profit with respect to the 45-cent upcost? c/ What are the sensitivities of the

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Concept of Randomized Approximation Algorithms

Randomized algorithms are algorithms that use random numbers to determine what to do next at any point in their logic. This means that it uses randomization for operation in the logic. Due to this randomness, the time and space complexity of the standard algorithm is reduced.