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Optimization models’ purpose is to solve business problems. Analyze three elements of optimization models, objective function,

Optimization models’ purpose is to solve business problems. Analyze three elements of optimization models, objective function,

Optimization models’ purpose is to solve business problems. Analyze three elements of optimization models, objective function, decision variables, and business constraints. Answer the following questions:

1. What are some key tools that can be used to create optimization models?

2. What are the advantages and disadvantages of optimization models?

3. Describe the key characteristics of an optimization model. How do these characteristics play in your organization that you belong to? You can choose a past or present organization. Explain.

Need 3 pages with peer-reviewed citations.