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application&techniques
what are the classification of or model
The scientific methods is based on certain article of path these are: 1. Reliance on Evidence: Truth is established on the basis of evidence. Conclusion is admitted onl
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
A FIRM MANUFACTURES HAEDACHE PILLS IN TWO SIZE A AND B
Normal 0 false false false EN-IN X-NONE X-NONE PROBABILITY DISTRIBUTION
Small Sample The central limit theorem does not work well with small samples even if the population in non Gaussian. So we cannot rely on the central limit theorem
Goal Programming This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals c
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
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