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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.
2.Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on plant operations and m
application&techniques
undertake the proposed research investigation in accordance with the agreed specification and procedures
#questioA 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
A Company produces 150 cars. But the production rate varies with the distribution. Production Rate Probability 147 0.05 148 0.10 149 0.15 150 0.20 151 0.30 152 0.15 153 0.05 At pre
Research and Development: All intellectual activities consciously pursued and systematically completed generate useful information. Research (also Research and Development) is
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
eqation
Discus and explain both probability and none probability sampling techniques
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
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