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Inflation
Inflation is a general increase in the price of goods and services. The inflation rate, as measured by the Consumer Price Index (CPI), was 9.9% in 20x2-x3 and is expected to be 8% in 20x3-x4. This does not mean that prices will be lower in 1993-94. It merely means that the general increase in prices will be lower. An example will clarify the point.
The prices of certain items are included in calculating the CPI. If a given quantity of these items cost Rs.10,000 in the beginning of 20x2-x3, then at the end of 20x2-x3 they would cost Rs.10,990 which is 9.9% more. Further at the end of 20x3-x4 they will be expected to cost Rs.11,869 which is 8% more than the cost at the beginning of the year. Clearly the prices have not fallen, only the rate of increase has slowed down.
Figure 1: Inflation as Reflected by the Cost of Items Worth Rs.10,000 on 1st April 1992
1st April 20x2 1st April 20x3 1st April 20x4
The supply of a certain good is inspected periodically. If an order is placed of size x >0 (integer), the ordering costs are 8+2. x. The delivery time is zero. The demand is stoc
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
. Explain in brief the phases of Operations Research. 5 +5 = 10 marks (200 - 250 words each) Q3. Solve the following Linear Programming Problem using Simple method. Maximize Z= 3
Significance of operation research
Non-Documentary Sources: On the other hand, non-documentary sources are institutional and human resources, both of which are important links in the information-transfer chain.
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Explian scope and concept of Operations research?
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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 in
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