The method you use to narrow the available options for a problem so you can choose the best potential outcome is an analytical process known as ____ in the field of management science.
A) optimization
B) simulation
C) targeting
D) breaking even

Question

Quizplus · Accepted Answer

Optimization is the process of selecting the best decision among different alternatives by maximizing or minimizing a certain objective function. It is commonly used in management science to find the optimal solution to a problem, based on constraints and available resources. Simulation is a process of creating a model of a problem or a system and examining its behavior under different conditions. Targeting is a process of identifying a specific group of customers or audience for marketing or promotional purposes. Breaking even is a business concept that refers to the point at which a company's revenue equals its expenses. While all of these concepts are useful in management science, optimization is the specific process described in the prompt for narrowing down options and selecting the best outcome.

The Method You Use to Narrow the Available Options for a Problem