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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.
The NW corner rule described earlier considers only the availability and supply requirements in making assignments. It takes no account of the shipping costs given in
How to solve linear programming problems using simplex method introducing slack variable,surplus variable and artificial variable
Model building is the essence of the operations research approach? Discuss.
1. Investigate: The Operations Strategy of your organisation or one you are familiar with and answer the following points. Does your chosen organisation have an operations
What is linear programming
models of inventory management
Maximize Z = 2x - 7y subject -2x + 3y = 3 4x + 5y >= 10 6x + 7y 4x + 8y >= 5
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
Importance of models
Decide upon the Objective What is it that you aim to achieve the end of the presentation ? your objective should be crystal clear. Do not stray or move a ways
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