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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.
Scattered Responsibility and Authority: In a big industry responsibility and authority of decisions making is scattered throughout the organization and thus the organization.
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
North West Corner Rule for Initial Solution: Now by applying North West corner rule we can initial solution. According to this rule without regard to cost consideration the
mile-high microbrewery makes a light beer and a dark beer. mile-high has a limited supply of barley, limited bottling capacity, and a limited market for light beer. profits are $0.
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
Non-Documentary Sources: On the other hand, non-documentary sources are institutional and human resources, both of which are important links in the information-transfer chain.
regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual
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
in a rectangular game ,pay of matrix of player A is as follows
Machine Tabulation This methods of tabulating information is generally used in case of extensive large scale surveys. Mechanical sorting and tabulating equipments and su
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