Business functions more likely to use optimization models
Problem: Which business functions are more likely to use optimization models than others and why?
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Problem: During the month of July, Pittsburgh resident Bill Fly must make 4 round-trip flights between Pittsburgh and Chicago. These are the dates of the meetings Bill must attend:
1) To achieve a 10 percent multifactor productivity improvement by reducing materials cost only, by what percentage must these costs be reduced?
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Use the appropriate Excel computations to identify the strategy that maximizes this tire manufacturer's expected profit. What is the right decision?
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