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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.
Teesside Construction is developing a schedule for a major building project to start in 04/01/2011 in Middlesbrough, UK. The project manager has identified major activities of the
marginal rate of substitution, degeneracy and degenerate solution
scope of operation research
Determine feasible space for x1-x2= 8
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
Telephone calls arrive at a switchboard in a Poisson process at the rate of 2 per minute. A random one-tenth of the calls are long distance. (a) What is the probability of at least
whatdo you mean by automation
Select five Operations Research techniques and describe in detail the real world application of such techniques in business decision making.
Small Sample The central limit theorem does not work well with small samples even if the population in non Gaussian. So we cannot rely on the central limit theorem
What are artificial variable why do you need them
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