Question: Optimization is often used in industries, commerce, and organizations to make better decisions about the products their customers want. In your own words, explain what

Optimization is often used in industries, commerce, and organizations to make better decisions about the products their customers want.

  1. In your own words, explain what is meant by optimization in mathematics.
  2. Explain why optimization is important in business.

include reference

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

Give the ground-state electron configurations of (i) CO, (ii) NO, and (iii) CN .

Q:

Optimization is often used in industries, commerce, and organizations to make better decisions about the products their customers want. A) In your own words, explain what is meant by optimization...

Q:

Optimization is often used in industries, commerce, and organizations to make better decisions about the products their customers want. A) In your own words, explain what is meant by optimization...

Q:

Optimization is often used in industries, commerce, and organizations to make better decisions about the products their customers want. A) explain what is meant by optimization problems. B) summarize...

Q:

Using the information that you have retrieved through your study of the articles and videos in Module 7, plus your own experience working in teams and post your response to the following...

Q:

Benchmarking: An International Journal Impact of e-procurement on procurement practices and performance Gioconda Quesada Marvin E. Gonzlez James Mueller Rene Mueller Downloaded by UNIVERSITY OF...

Q:

CHA P TER 9 Understanding Software: A Primer for Managers 1. INTRODUCTION L E A R N I N G O B J E C T I V E S 1. Recognize the importance of software and its implications for the rm and strategic...

Q:

I want you to summerize these 7 items. !Please be different from other answers! !Please get a little quick! Thanks. You should summarize the 7 items in the photo. Max 125 words! reading 1....

Q:

You should summarize the 7 items in the photos. Max.250 words! !Different answer another chegg answer please! 1. Introduction currently missing from the literature (Trioman et al. 2010: De mirkan and...

Q:

Chapter 5 - Decision Making, learning, Creativity, and Entrepreneurship Decision making is the process by which managers respond to opportunities and threats by analyzing the options and making...

Q:

A vendor is recommending a program to make supervisors better at 'dealing with difficult conversations' at work. How would you apply the concepts of optimisation and the Kirkpa- trick model to set up...

Q:

Two-person sailboats are available for use at the university dock. Your group is large enough to need three of them. Use Table 1, Appendix B, to select your three boats from among the 10 that are in...

Q:

Given that a = log8 225 and b = log2 15, express a as a function of b.

Q:

What was the willowbrook study and how was it unethical?

Q:

Problem 18-62 (Static) Productivity Measures-Working Backwards (LO 18-6) Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files...