MODEL OF A DECISION

The other ingredient of Operations Research, as mentioned in the introduction, was the concept of optimization. To have an "optimum," the problem must be structured into a definition of two or more interacting variables. Figure 6 shows three cases (somewhat trivial ) that occur in mining ope rations. The r eason for selecting these particular models for demonstration is that they a lso r epresent three diffe rent methods of solution.
Keywords: Cost, Costs, easons, iterative method, mathematical model, standard deviation, Equipment, inventory, Mine, Mines, Model, Models, Production
Full Access to Technical Paper
PDF version for $20.00