Reference no: EM131401159

Please answer the following questions below. Each question must be at least 175 words and include a reference. Please respond with an original response and no plagiarism.

1. 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? Support your anecdotal evidence with support and rationale from the readings.
2. 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? Support your response with rationale from the readings.
3. Describe a current problem facing your department, organization, or industry that would indicate the need for simulation. What key factors of this business situation indicate the need for simulation (versus the other modeling techniques covered in the course)? Support your response with rationale from the readings.
4. Consider some of the examples you have brought up in earlier topics. Describe the key differences between simulation models and the models covered earlier in the course. Outline how the approach to solving this problem would differ in terms of applying and computing/solving the models.