Question

An optimization model __________.

1. Unselected attempts to assign limited capacity to various demand points in a way that minimizes costs
2. Unselected is a quantitative function that seeks to maximize or minimize
3. Unselected is a type of mathematical model used when the user seeks to optimize some objective function subject to some constraints
4. Unselected is a quantifiable condition that places limitations on the set of possible solutions

Answer 1

3) is a type of mathematical model used when the user seeks to optimize some objective function subject to some constraints

Step-by-step explanation:

Optimization models are used by businesses to try to solve some specific problem by optimizing or minimizing its function.

For example, you want to optimize your inventory management. Your goal will be to lower your inventory costs by maximizing inventory turnover.