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Optimum, Minimum Or Maximum

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noorhoff

The document discusses optimum, minimum, and maximum values in relation to dependent and independent variables. It provides examples of dependent variables like service level and availability, contribution, profit, and time required that have maximum or minimum values when the independent variables of maintenance, management decisions, and training are at their respective optimum points.

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Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Concept: by Ton Noorhoff Dependent Y max Y = Dependent variable variable Y is : ?maximum or ?minimum Y when min ? independent X = Independent variable variable X is X optimum opt
Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Examples: by Ton Noorhoff ?Management 100 % Y = service-level, availability Y ?Dependent max variable Y= ?service-level , availability ?Independent variable X = 0% ?maintenance X = maintenance of infrastructure of the X opt infrastructure
Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Examples: by Ton Noorhoff Y = Maximum ?Business Y = contribution or profit ?Dependent variable Y = i.e. ?contribution ?profit ?Independent variable X = X = decisions of management ?decisions of X opt management
Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Examples: by Ton Noorhoff ?Sports ?Dependent Y = time required variable Y = i.e. ?time required to cover distance Y = Minimum ?Independent variable X = i.e. X = training ? training X opt

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Optimum, Minimum Or Maximum

  • 1. Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Concept: by Ton Noorhoff Dependent Y max Y = Dependent variable variable Y is : ?maximum or ?minimum Y when min ? independent X = Independent variable variable X is X optimum opt
  • 2. Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Examples: by Ton Noorhoff ?Management 100 % Y = service-level, availability Y ?Dependent max variable Y= ?service-level , availability ?Independent variable X = 0% ?maintenance X = maintenance of infrastructure of the X opt infrastructure
  • 3. Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Examples: by Ton Noorhoff Y = Maximum ?Business Y = contribution or profit ?Dependent variable Y = i.e. ?contribution ?profit ?Independent variable X = X = decisions of management ?decisions of X opt management
  • 4. Optimum, minimum or maximum Often misunderstood by managers, politicians and journalists Examples: by Ton Noorhoff ?Sports ?Dependent Y = time required variable Y = i.e. ?time required to cover distance Y = Minimum ?Independent variable X = i.e. X = training ? training X opt