Which is true regarding optimization models?
A) Optimization models are based on precise mathematical procedures that are guaranteed to find the "best" solution for the problem under evaluation.
B) Optimization models are able to accommodate broad problem definitions, rather than provide an optimum solution.
C) The Grid Technique is a powerful optimization model.
D) Optimization models will guarantee increased profits.

Question

Quizplus · Accepted Answer

Optimization models are based on mathematical procedures that aim to find the best solution based on defined objectives and constraints. While there may be limitations to the model or data, the goal is to find the optimal solution. However, it should be noted that the definition of "best" is subjective and dependent on the specific problem being addressed.

Which Is True Regarding Optimization Models