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Formulation of the Problem: Before proceeding to find the solution of a problem, first of all a manager should be competent enough to form an appropriate model. To do so followings information are needed:
a. Decision Maker
b. Objectives
c. Controllable Variables
d. How do uncontrollable variables affect the possible solution?
e. Constraints or restrictions on the variable
f. Alternative course of action
g. Measurements of effectiveness
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
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
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
Project Management Your data need to be organized in such a way that access to them is both quick and accurate. In achieving this a good qualitative analysis progra
These models are applied to the management ( planning controlling and scheduling ) of large scale projects. PERT/ CPM techniques help in identifying potential trouble spots in
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Degree of Correlation ship 1. Perfect Correlation: When changes in two related variables are exactly proportional there is perfect correlation between them. In case
Problem: A policy maker is considering several policy options that lead to different utility levels of different individuals a) Which Policy is would be optimal according t
if there were n workers and n jobs there would be
Drury's Principles: The basic principle, which still governs the selection of reading material for a library, was enunciated by Drury in 1930. It states: "To provide the righ
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