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Mastering Mathematical Modeling for Effective Decision Making

Explore the quantitative representation of real-world problems through mathematical modeling. Learn the seven-step modeling process - problem definition, data collection, model development, verification, optimization, decision-making, and implementation. Enhance your skills in creating descriptive, what-if, and optimization models for determining the best solutions.

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Mastering Mathematical Modeling for Effective Decision Making

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Presentation Transcript

  1. Introduction to Modeling Chapter 1

  2. Introduction • Mathematical model • Quantitative representation of a real problem • Descriptive Model • What-if analysis • Optimization model • Determine the best solution

  3. §1.4 Seven-Step Modeling Process 1: Problem Definition 2: Data Collection 3: Model Development –analytical or simulation model 4: Model Verification 5: Optimization and Decision Making 6: Model Communication to Management 7: Model Implementation

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