BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
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True
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Detailed explanation-1: -Solution: Operations Research attempts to find the best and Optimum solution to a problem. The use of computers it is possible to handle complex problems requiring large amount of calculations. The objective of the operations research models is to attempt and to locate Best or Optimal Solution.
Detailed explanation-2: -Operations research is a scientific discipline that involves using mathematics and analytical principles to aid problem-solving and decision-making for organizations.
Detailed explanation-3: -Three essential characteristics of operations research are a systems orientation, the use of interdisciplinary teams, and the application of scientific method to the conditions under which the research is conducted.
Detailed explanation-4: -Operations research is a quantitative approach that solves problems, using a number of mathematical techniques. It is helpful to use operations research when you’re trying to make decisions but the conditions are uncertain, and when differing objectives are in conflict with each other.