Chat with us, powered by LiveChat Grand Canyon ECON 0101 – Find a current example of a linear | acewriters

Answering the following questions below and include a reference for each question addressed?1. Find a current example of a linear optimization model used in your industry. Describe the industry’s needs, including any unique factors, how the linear optimization model was used, and the problem or challenge it addressed. Would you suggest a different model be used? Why or why not? Support your response with rationale from the assigned readings.2. Explain the importance of correctly stating the objective function and constraints in linear optimization problems. Using examples from your professional experience, describe the problems that could result if the objective function and constraints are not stated properly. Why did these problems arise?3. Describe a workforce scheduling, a blending, and a logistics problem facing your current organization or industry. What is being optimized in each of your examples and why? How do linear optimization techniques differ from decision tree analysis? Which are more applicable to the examples you identified?

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