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These models are used when one must decide the optimal time to replace equipment for one reason or the other for instance, in the case of equipment whose efficiency deteriorates with time or fails immediately and completely. For example in case of an automobile the user has his own measure of effectiveness. So there will not be a single optimal answer for everyone even if each automobile gives exactly the service.
RANGE Range is the difference between the highest and the lowest value is series. This is the simplest absolute measure of dispersion. Symbolically : R= L- S
Government Documents: Government publications are the official documents brought out at government expense. They are the records of activities of the (1) Executive, (2) Legis
explain operation research with example.and also discuss the scope of OR in modern management.
MAX: 150 X1 + 250 X2 Subject to: 2 X1 + 5 X2 = 200 - resource 1 3 X1 + 7 X2 = 175 - resource 2 X1, X2 = 0 2. How many units of resource 1 are cons
DISCUSS THE SIGNIFICANCE AND SCOPE OF OPERATION RESEARCH IN MODERN MANAGEMENT
Rank Methods Spearman s When the variables under consideration are not capable of quantitative measurement but can be arranged in serial order( ranks) we find correla
what is operation research an management decision making
Construct a two-variable LP model that: · Maximizes Z; · All coefficients in the objective function are greater than 500; · Includes at least 5 constraints;
ABC Bank faces a decision to hire two clerks or lease two automatic teller machines. Service rates of clerk 1 and clerk 2 are 41 customers per hour and 36 customers per hour respec
scope of operation research in management
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