Practical Modeling

Larry Haverly

Chapter 5 in Operational Research in Industry, 1999, pp 91-101 from Palgrave Macmillan

Abstract: Abstract Successful practical application of a mathematical model requires a good understanding of the behavior of the mathematical model by the person developing the model and an understanding of its limitations by the user. The model needs to be set up to reflect those essential features of the real situation being modeled. The distinction between the real situation and the model must be kept in mind, along with a recognition that the model is not the same as the real situation, but only our best representation of some important aspects of that real situation.

Keywords: Selling Price; Integer Variable; Linear Programming Model; Schedule Period; Linear Programming Solution (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1057/9780230372924_5

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