In the action plan you have to describe the process you will undertake to transform the business problem into a set of mathematical equations: Business Analysis, Assignment, JCU, Singapore

Part 1:

Action Plan (30%) In the action plan you have to describe the process you will undertake to transform the business problem into a set of mathematical equations using the four steps approach.

1. Identify the decision variables – the unknown values that the model seeks to determine.

2. Identify the objective function – the quantity to be minimized or maximized

.3. Identify all appropriate constraints – limitations, requirements, or other restrictions that are imposed on any solution, either from practical or technological considerations or by management policy.

4. Write the objective function and constraints as mathematical expressions