Mathematical Models - Chapter 1

Mathematical Models - Chapter 1

1. A mathematical model is a simplification of a real work situation. Used to make predictions about a real world problem.

2. Advantages of mathematical models:

   • They are quick and easy to produce
   • They can simplify a more complex situation
   • They can help us improve our understanding of the real world as certain variable can be readily changed
   • They enable predictions to be made about the future
   • They can help provide control - as in aircraft scheduling

3. DIsadvantages of mathematical models:

   • They only give a partial description of the real situation
   • They only work for a restricted range of values