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Health insurance costs have been increasing significantly every year as I am sure you are all aware of. There are high insurance premiums, high co-pay costs, as well as high deductibles and out of po...

Discussion 7
Discussion 7

Health insurance costs have been increasing signif

Fastenal Tour Assign...
Fastenal operates mainly on business to business basis. It developed from a simple fastener producing company to a full-fledged industrial and construction Supply Company. According to Brian, the word...

Fastenal Tour Assignment Solution
Fastenal Tour Assignment Solution

Fastenal operates mainly on business to business b

Week 4 Discussion Qu...
Leaders need to be nimble and quick to modify in order to be effective. Change is a part of life. Once, I read in the book that your subordinates have been asked to modify their mindsets, to be more s...

Week 4 Discussion Question
Week 4 Discussion Question

Leaders need to be nimble and quick to modify in o

Business Data Analysis-Discussion (3)

Business Data Analysis-Discussion (3)

Q Describe a problem that you are currently faced with at work or in your personal life that could be solved by using an optimization model like the ones presented in Chapter 13 of the text. Describe what the problem is, why optimization modeling could help you and how you would approach solving the problem with an optimization model.

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The linear optimization method has been used to find the best possible outcome by changing the associated factors affecting the outcomes. As stated in the textbook, the function with the value that has to be optimized is known as objective function. The factors affecting the final value of the objective function is known as decision variable and some constrain has been set as a limiting factors of the decision variables.