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Inventory models deal with the problem of determination of how much to order at a point in time and when to place an order. The main objective is to minimize the sum of three conflicting inventory costs. the cost of holding or carrying extra inventory the cost of shortage or delay in the delivery of items when it is needed a cost of ordering or setup. These are also useful in dealing with quantity discounts and selective inventory control.
Test Statistic The next step is compute an appropriate test statistic which is based on an appropriate probability distribution. It is used to test whether the null hypo
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
how to solve simplex method in LPP?
Other Determinants of Sample Size 1. The variability of elements within the population has become a very important factor to decide the sample size. The more v
Reports: Report literature is an important primary source of information, particularly for a research library. This new medium for communication of information came into bei
Demerits of Range a.It gives importance to the two extreme values and is very much affected by the extreme items. b.The range provides no information about the st
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DECILES The nine points on the scale of observations ( or values of the variable) which divide the total frequency into ten equal parts are called deciles for the data
NON PARAMETRIC TESTS All practical data follow normal distribution under such situations can estimate the parameters such as mean variance etc ,,, and use the standard
Higher Order Table When three or more characteristics are represented in the same table such a table is called higher order table. The need for such a table arises
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