A Widely Used Mathematical Programming Technique Designed to Help Managers

question 39

Multiple Choice

A widely used mathematical programming technique designed to help managers and decision making relative to resource allocation is called

• A)linear programming.
• B)computer programming.
• C)constraint programming.
• D)goal programming.
• E)None of the above

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Definitions:

Unemployment Rates

The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.

Empirical Investigation

The process of collecting and analyzing data to obtain evidence that can confirm or refute a hypothesis, theory, or observation.

Optimal Choices

Optimal choices refer to decision-making that maximizes utility or benefit within given constraints, finding the best possible outcome from a set of alternatives.

Scarcity

The basic economic issue arises from the reality of endless human desires facing the constraint of finite resources.