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scope of operation research in management
Scope of operation research?
Each day you own 0 or 1 stocks of certain commodity. The price of the stock is a stochastic process that can be modeled as a Markov chain with transition rates as follows
Question A The basic characteristic feature of Operations Research is that it employs mathematical representations or models to analyse problems. Explain the methodology of Operat
Observation and Data Collection for Better Understanding of the Problem: Many times actual observations by trained observers at the scene of operation may be difficult and da
Operations Research uses the methods of science to understand and explain the phenomena of operating systems. It devises the theories( models ) to explain these phenomena
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
b. 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 pape
explanation
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