: Its ability to remain valid even if minor assumptions are changed.
: Maximizing profit or minimizing cost in logistics.
: Modeling strategic interactions between competing agents. Evaluation Criteria A "good" model is judged by three main factors: 📍 Accuracy : How closely it mirrors observed data.
The effectiveness of a model rests on several foundational concepts:
: Predicting future states based only on the current state.
: Running thousands of "what-if" scenarios to find a probability distribution. Optimization Models