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Merits a.It is simple to understand and easy to calculate. b.It is very useful in the case of data which are of qualitative nature like intelligence honesty be
the following table gives place under different states of nature Strategies States of nature s1 s2 s3 A 10000 3000 2000 B
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
INFORMATION RESOURCES - SELECTION PRINCIPLES: Selection of materials for a library requires sagacity, adroitness and attention to people's needs for everything from books and
Significance of operation research
Inflation Inflation is a general increase in the price of goods and services. The inflation rate, as measured by the
characteristics of operational research model
Question : Suppose that you want to invest $10000 in the stock market by buying shares in one of two companies: A and B. Shares in Company A are risky but could yield a 50% ret
what is process design? what are the factors that affects the process design?
This method involves a systematic and comprehensive study of a particular community organization group etc, with a view to the analysis of a social problem and the presen
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