Introduction to Modeling Chapter 1 Introduction to Modeling

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

§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