Question: Based on the Optimization Modelling and those of Optimization Models create your own optimization model in Excel. Think about the following concepts whlie answering the

Based on the Optimization Modelling and those of Optimization Models create your own optimization model in Excel. Think about the following concepts whlie answering the question:

  1. Decision variables- physical quantities controlled by the decision maker.
  2. Objective function- Defines the criterion (reduce expenses, maximize profits).
  3. Constraints- These are restrictions on the numerical values, which are assigned to the decision variables.

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