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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.
A paper mill produces two grades of paper viz., X & Y. Because of raw material restrictions, it cannot produce more 400 tons of grade X paper & 300 tons of grade Y paper in a week.
These models are used when one must decide the optimal time to replace equipment for one reason or the other for instance, in the case of equipment whose efficiency dete
Choose a publicly traded company (NYSE, AMX, or OTC) that interests you. If you don't know how to choose a company, think of IBM, DELL computer, Nike, Apple computer, GM, Ford, Nok
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
the dual form of the following lpp min z=3x1+2.5x2 constraints:2x1+4x2>=40, 3x1+2x2>=50 and x1,x2>=0
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
This year Jan Rich, who is ranked number one in women''s singles in tennis, and Marie Wacker, who is ranked number three, will play 4 times. If Marie can beat Jan 3 times, she will
Form of t- Distribution 1. The students t - distribution like the normal distribution has bell shaped frequency curve which is symmetrical. The only parameter which det
Maximize Z = 2x - 7y subject -2x + 3y = 3 4x + 5y >= 10 6x + 7y 4x + 8y >= 5
A producer of furniture manufactures two products - tables and chairs. Processing of these products is done on two machines A and B. A chair needs 2 hours on machine A and 6 hours
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