An Optimization Analysis Finds the Optimum Value for a Target

question 370

Multiple Choice

An optimization analysis finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints. What can a manager determine by changing revenue and cost variables in an optimization analysis?

• A)Calculate the highest potential profits
• B)Calculate employee benefit payments
• C)Use this as an extension for a digital dashboard
• D)Create production schedules

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Definitions:

Confounds

Variables that obscure the clear understanding of the relationship between different variables in a study, due to their intertwined effects.

Dependent Variable

In scientific research, the variable that is measured to see how it is affected by changes in another variable (the independent variable).

Independent Variable

In research, this is the variable that is manipulated or changed to observe its effect on a dependent variable.

Independent Variable

In research, the variable that is manipulated or changed to observe its effect on a dependent variable.