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Transient Analysis
A state is said to be transient if it is impossible to move to that state from any other state except itself. This state is temporary and eventually a steady state is reached. This analysis can be performed using usual probability transition matrices.Absorbing State
A state is said to be an absorbing (or Trapping state) state if it is impossible to leave the state. This will occur if any Pn is equal to 1.0Example:
Since p11 = 1.0, state A is an absorbing state. This state represents the conditions, under which the modeled process can terminate. All other states of the model are transient states.
JIT purchasing arrangements JIT philosophy also extends to adapting JIT purchasing techniques whereby delivery of material immediately precedes their use. By arranging with sup
Advantages of incremental budgeting a) The budget is stable and change is gradual b) Managers can operate their departments on a steady basis c) The system is relatively
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Cash budget is a detailed budget of income and cash expenditure including both capital and revenue items. For control reasons the year's budget is usually phased in smaller periods
Define Zero bases budgeting According to CIMA According to CIMA, ZBB is a method of budgeting whereby all activities are re evaluated each time a budget is set. Discrete l
static budget
Correlation coefficient (r) Correlation coefficient measures the degree of association between two variables such as the cost and the activity level. r = nΣxy - Σx Σy
Question 1: a. Distinguish between Advertising and Public Relation? b. Discuss the methods adopted by a Public Relation company in promoting the image of a destination in th
using the operating cycle and any financial management knowledge discuss the applicability of such cycle to poultry business in Uganda (consider broilers)
A manufacturing company needs 2500 units of a particular component every year. The company buys it at the rate of Rs. 30 per unit. The order processing cost for this part
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