This topic contains a solution. Click here to go to the answer

Author Question: List and describe four categories of models. Give examples in each category. What will be an ... (Read 119 times)

haleyc112

  • Hero Member
  • *****
  • Posts: 600
List and describe four categories of models. Give examples in each category.
 
  What will be an ideal response?

Question 2

Metrics are used to describe costs, benefits, or the ratio between them and need to be defined properly with a clear way to measure them.
 
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaykayy05

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

 Optimization of problems with few alternatives: Find the best solution from a small number of alternatives; e.g., decision tables, decision trees, analytic hierarchy process
 Optimization via algorithm: Find the best solution from a large number of alternatives, using a step-by-step improvement process; e.g., linear and other mathematical programming models, network models
 Optimization via an analytic formula: Find the best solution in one step, using a formula; e.g., some inventory models
 Simulation: Find a good enough solution or the best among the alternatives checked, using experimentation; e.g., Monte Carlo simulation
 Heuristics: Find a good enough solution, using rules; e.g., heuristic programming, expert systems
 Predictive models: Predict the future for a given scenario; e.g., forecasting models, Markov analysis

Answer to Question 2

TRUE




haleyc112

  • Member
  • Posts: 600
Reply 2 on: Jul 7, 2018
Excellent


atrochim

  • Member
  • Posts: 331
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

For a complete list of videos, visit our video library