An optimization model.
A. Mathematically provides the best decision
B. Provides decision within its limited context
C. Helps in evaluating various alternatives constantly
D. All of the above
Answer: Option D
Solution (By Examveda Team)
An optimization model Mathematically provides the best decision, Provides decision within its limited context and Helps in evaluating various alternatives constantlyThis Question Belongs to Management >> Operations Research
A. Is possible when the variables value is known
B. Reduces the scope of judgement & intuition known with certainty in decision-making
C. Require the use of computer software
D. None of the above
A. Must be deterministic
B. Requires computer aid for its solution
C. Represents data in numerical form
D. All of the above
A physical model is example of.
A. An iconic model
B. An analogue model
C. A verbal model
D. A mathematical model
The qualitative approach to decision analysis relies on.
A. Experience
B. Judgement
C. Intuition
D. All of the above
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