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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
Disadvantage of standard Deviation It is not easy to understand and calculate. It gives more weight to the extremes and less to the items nearer to mean. Since
mile-high microbrewery makes a light beer and a dark beer. mile-high has a limited supply of barley, limited bottling capacity, and a limited market for light beer. profits are $0.
Meaning and Definition If a group of N observations is arranged in ascending or descending order of magnitude then the middle value is called median of these observat
Some areas of applications are Purchasing, Procurement and Exploration Quantities and timing of purchase Replacement policies Rules for buying, supplies Finance, Budgeting and Inv
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
Stratified Sample Size The sampling study has depended much on the stratified sample to reduce the sampling error, samples size may have a number of strata or cluster
Assumption of F- Test The theoretical assumption on which F test is based are: 1.The populations for each sample must be normally distributed with identical mean
Question 1 What do you understand by customs duty? Explain the taxable events for imported, warehoused and exported goods. List down the types of duties in customs. An importer
This method is more systematic and orderly than least cost method. Here penalties for each column and row of the transportation table are determined, and the row or column with
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