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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.
six operators are to be assigned to the 5 jobs with the cost of assignments
CRITICAL EXAMINATION OF THE APPLICATION OF DECISION THEORY TECHNIQUES OR MODEL IN BUSINESS DECISION MAKING IN NIGERIA
Research Methodology 1. Discuss how the research will be executed to achieve the proposed research objectives. The methodology should be based on the methods that are used in
Deriving the Solution from the Model: This phase is devoted to the computation of those value of decision variables that maximize or minimize the objective function. Such
After having studied as to what is operations research we shall now try to answers why its need has been felt by the industry. As already tainted out science of OR came
what operation research analysts do not
WHOM DO YOU THINK RAJENDER WILL EAT WITH? WHY?
Scenario: You work as a junior employee in the marketing department of a medium-sized Hong Kong organisation. One of your major tasks is your involvement in your organization's
what is operation research an management decision making
b. 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 pape
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