An Optimisation Analysis Finds the Optimum Value for a Target

question 25

Multiple Choice

An optimisation 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 optimisation 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:

Saturation

Vividness or purity of color; the dimension of visual experience related to the complexity of light waves.

Visual Stimulus

Any object or event that is seen and stimulates the visual sense, potentially eliciting a response.

Signal-detection Theory

A theory that explains how individuals differentiate between important stimuli and background noise in the environment.

Response Bias

A tendency in research respondents to answer questions in a manner that is not accurate or truthful, often due to social desirability or misunderstanding.