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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.
Method of Concurrent Deviations The coefficient of concurrent deviation or coefficient of correlation b the concurrent deviation methods is given by the formula. R
difference between simplex solution procedure for maximisation and minimisation
management wants to know how many supervisors should be hired, and what could be the optimum workload distribution to be applied, given a number of constraints
General Rules a. Attractive Shapes The tables should be neat and attractive. The size of table should be neither too big nor small. b. Simplicity A table should b
Multiple Objective s The sample may vary according to the objective of the research. There may several objectives of marketing research so the sample size may vary a
Techniques of Work Measurement A number of work measurement techniques have been developed to suit different types of work . There are: 1. Repetitive work: The
BINOMIAL DISTRIUBITON This distribution (also known as Bernoulli distribution ) is useful in such an experiment where there are only two outcomes success or failure g
regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual
STANDARA DEVIATION Standard deviation is the square root of the arithmetic average of squares of all the deviations from the mean. In short it may be defined as th
Scope of operations research
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