{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Lecture2

# Lecture2 - SAN 273 Lecture Types of Mathematical Models...

This preview shows pages 1–6. Sign up to view the full content.

SAN 273 Lecture: 1/16/08 Types of Mathematical Models Classification of Costs Break-Even Analysis

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
What is Operations Research? A field of study that uses computers, statistics, and mathematics to analyze and solve common operational problems. Management Science uses the above tools to solve business problems. a.k.a. Decision Science, and OR/MS. This course emphasizes using OR/MS tools with the aid of software such as LINDO and use of spreadsheets.
The Modeling Approach to Decision Making Everyone uses models to make decisions. Types of models: Mental (arranging furniture) Visual (blueprints, road maps) Physical/Scale (aerodynamics, buildings) Mathematical (what we’ll be studying)

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Example of a Mathematical Model Profit = Revenue - Expenses or Profit = f (Revenue, Expenses) or Y = f (X 1 , X 2 )
Y = f (X 1 , X 2 , …, X n ) Y = dependent variable (a bottom line performance measure) X i = independent variables (inputs having an impact on Y) f ( . ) = function defining the relationship between the X

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 15

Lecture2 - SAN 273 Lecture Types of Mathematical Models...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online