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Uncertainly : There is a great uncertainly about economic and general environment. With economic growth uncertainty is also growing's. this makes each decisions costlier and time consuming. Or is thus quite essential from reliability point of view.
Knowledge Explosion : Knowledge is increasing at a very fast rate. Majority of the industries are not up to date with the latest knowledge and are therefore at a disadvantage. Or teams collect the latest information for analysis purposes which quite useful for the industries.
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
Solve the following Linear Programming Problem using simple method Maximize Z= 3x1 + 2x2 Subject to the constraints: X1 + X2 = 4
Describe Operation Research and discuss its applications in various organizations. A company assembles heavy duty refrigerators and uses two types of compressors A & B. Two comp
disadvantages of model in operational research
In this project the main focus is conducted interview to educational experts. This interview is base on Delphi technique. This technique is used to attain experts' consensus on ele
Usefulness of Correlation 1.Correlation is very useful to economists to study the relationship between variables like price and quantity demanded. To businessmen it
These models have been developed to establish a trade off between costs of providing and the waiting time of a customer in the queuing system. Constructing a model entails desc
Uses of Mean Deviation Mean Deviation is rarely being used as a measure of dispersion. But due to easy and simplicity in calculation. It is rather useful in busin
1. A local university purchases exercise books to give to their students. Instead of a fixed unit cost, their supplier quotes the following discount pricing: Order quantity Unit P
A paper mill produces two grades of paper viz., X & Y. Because of raw material restrictions, it cannot produce more 400 tons of grade X paper & 300 tons of grade Y paper in a week.
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