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:

Quantifiable

Capable of being measured or expressed as a numerical value.

Adaptive Radiation

The evolutionary process where organisms rapidly diversify into a multitude of new forms, particularly when a change in the environment makes new resources available.

Beetle Lineage

The evolutionary history and classification of beetles, a diverse group of insects with a hard exoskeleton and over 350,000 species.

Hard Shells

Rigid external coverings that provide protection to the bodies of certain animals, like mollusks and turtles.