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What is an equation or an inequality that expresses a resource restriction in a mathematical model?
An equation or inequality that expresses a resource restriction in a mathematical model is called
What is on or more equations that represents the way a system or process works?
Mathematical Model.
Who invented exponentail growth and exponential decay?
Reverend Thomas Malthus developed the concept of Exponential Growth (another name for this is Malthusian growth model.) However the mathematical Exponent function was already know, but not applied to population growth and growth constraints. Exponential Decay is a natural extension of Exponential Growth
What is the difference between a verbal model and a algebraic model?
The differnce between a verbal model and a algebraic model is that a verbal model is an equation written in words and a algebraic model is solving the equation from the verbal model.
What are the essential characteristics of a linear programming model?
The LPP is a class of mathematical programming where the functions representing the objectives and the constraints are linear. Optimisation refers to the maximisation or minimisation of the objective functions. The following are the characteristics of this form. • All decision variables are non-negative. • All constraints are of = type. • The objective function is of the maximisation type.
