The mathematical model of an LP problem is important because.
A. It helps in converting the verbal description & numerical data into mathematical expression
B. Decision-makers prefer to work with formal models
C. It captures the relevant relationship among decision factors
D. It enables the use of algebraic technique
Answer: Option A
Solution(By Examveda Team)
The mathematical model of an LP problem is important because it helps in converting the verbal description & numerical data into mathematical expression. Linear programming (LP, also called linear optimization) is a method to achieve the best outcome (such as maximum profit or lowest cost) in a mathematical model whose requirements are represented by linear relationships.This 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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