BPA QUALITY: Expert Series By The Professor
You have seen the advertisements online and TV. Play Daily Fantasy, win big!. Regardless where you stand on the legality of the issue, the game itself is fascinating. The basic premise is this: You have a limited budget and every player has a cost. Players score points for performing, i.e. home runs or touchdowns. You create a roster all while staying under your budget. You are matched up against other players and whoever generates the most points wins the money.
This is exactly how business works. Limited amounts of money to spend on multiple resources to maximize return. You have to make hard decisions and take calculated risks in the hopes that you build the right mix to beat your competition. Mathematically, this is linear programming, in this case a maximization model. Select the best mix of resources to maximize your profit based on expected returns from each of those…
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