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Decision making is not only the headache of management rather all of us make decisions. We daily decide about minor issues. The essential characteristics of all decisions are:
1. Objective
2. Alternative at the disposal and
3. Influencing factors
Once these characteristics are known one can think of improving the characteristics so as to improve upon the decision itself. Let us consider a situation where a decision concerns spending summer vacations at a hill resort. The next problem may be to decide the mode of conveyance from amongst the alternatives train bus and a taxi.
At the first level of decision making, bus is chosen as the mode of conveyance just by intuition ( may be at random). At the second level of decision making the three conveyances are compared and it is decided qualitatively that the bus will be preferred since it is less time consuming compared to the train and cheaper as compared to taxi. At the third level of decision making the three alternative are compared and it is suggested that the bus will be chosen as it will be taking only half the time taken by train and shall be 40 % less costlier than the taxi.
Although outcome of all these decisions is the same one can easily judge the quality of each decisions. We many brand the first decision as bad since it is highly emotional while we may call the second decision as good since it is scientific though qualitative. The third decision is doubtlessly the best as it is scientific as well as quantitative.
MEAN DEVIATION Mean deviation of a series is the arithmetic average of the deviations of various items from the median or mean of that series. Median is preferred
need of detailed information about the topic
Software House named as Harvester, got to increase the speed of service and I need to get 3000 words written
Question : (a) (i) What do you understand by the term "operations research"? (ii) Discuss three common operations research models. (b) Self-service at the university c
characteristics of operational research model
Step 1: Research Towers of Hanoi problem The Towers of Hanoi is a problem frequently used to teach recursive programming techniques. Step 2: Run the assembly code from Hanoim
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
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maximize z=3x1+2*2 subject to the constraints x1+x2=4 x1-x2=2 x1.x2=0
what are the characteristics of operation research
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