Binary Variables Can Only Take on the Values of 1

question 15

True/False

Binary variables can only take on the values of 1 or 2.

---

Definitions:

Product Mix

The assortment of different products that a company offers for sale to meet market demands and maximize profitability.

Limited Floor Space

A situation where the available physical area for business operations or inventory storage is constrained.

Machine Hours

A measure of production time, calculated by totaling the amount of time machines are actively running in the production process.

Labour Hours

The total time worked by employees, typically used as a basis for labor cost allocation or productivity measurement.