Question: Application of Optimization Models in Business Developing a New Model Choose a problem or define a problem and present a detailed description of it. It

Application of Optimization Models in Business

Developing a New Model

  • Choose a problem or define a problem and present a detailed description of it. It can be a made-up problem.
  • Formulate a mathematical model to solve this specific problem.
  • Make a smaller-scale representation of the problem alongside its corresponding mathematical model using synthetic data.
  • Utilize Microsoft Excel to solve this model.
  • Report the optimal solution.

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