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These models deal with the selection of an optimal course of action given the possible pay offs and their associated probability of occurrence. These models are broadly applied to problems involving decision making under risk and uncertainly.
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
A company manufactures 2 kinds of hats. Each hat of the I type needs twice as much as labour time as the II type. The company can manufacture a sum of 500 hats a day. The market re
scope of the operation research in modern management?
Regression Equations The regression equations express the regression line. As there are two regression lines so there are two regression equations. The regression equatio
Form of t- Distribution 1. The students t - distribution like the normal distribution has bell shaped frequency curve which is symmetrical. The only parameter which det
Characteristics a. Discrete Distribution: Like binomial distribution it is also a discrete probability i e, occurrences can be described by a random variable. b.
model building is the essence of the operational research discuss
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