Which of the Following Are Components of a Mathematical Model

question 41

Multiple Choice

Which of the following are components of a mathematical model for decision making?

• A) Decision variables.
• B) An objective function.
• C) Constraints.
• D) Parameters.
• E) All of the answer choices are correct.

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Definitions:

FUTA

Stands for Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on employers to fund state workforce agencies.

SUTA

State Unemployment Tax Act; a type of payroll tax that employers must contribute to state unemployment funds.

Fair Labor Standards Act

A U.S. law that sets minimum wage, overtime pay eligibility, recordkeeping, and child labor standards for full-time and part-time workers.

Federal Wage and Hour Law

U.S. legislation that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.