Q1. Why do you think linear programming is a popular tool for data scientists in the business
world? Provide business situations where LP models can be used, and explain why these models
are appropriate in the decision making process.
Q1. Among the three dimensions of the RFM approach, which one do you think is the most
important: recency, frequency, or monetary value? Using a real life business example, assign
priorities and justify your ranking with business considerations.
Q1. Discuss the role of simulation as a management science tool for optimization and decision
making. What are some advantages and disadvantages of using simulation as a decision making
Simulation is an effective method to assist manageme
Q1: What is big data? Discuss the factors that led to the era of big data. Compare and contrast
the paradigm shift from traditional operational databases to the big data analytical data
Big data is defined as a combination of struct
Q1. What are goal programming models and how they compare to other LP or NLP models?
Goal programming is a mathematical programming methodology where the decision
maker seeks to achieve not one, but multiple goals. GP models have the potential t
Q1. Discuss the assumption of divisibility and how it is violated in the case of IP models. Why
might it be necessary to require integer values for the solution of some programming models?
Provide examples to support your ideas.
Q1. Explain the assumptions of proportionality and additivity and how they may be violated in
certain business situations. Provide examples to support your ideas.
By definition, any linear equation has to be both proportional and additive. Howev