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Advantages of Statistical Methods:a.Involve relatively large number of observations.b.Analysis is more objective.c. Averages and percentages are calculated.d.Permits the researcher to make more accurate generalizations.e. Reliability of the generalizations can be measured.Disadvantages of the Statistical Methodsa.Inability to prove cause and effect relationship.
b.With increase in the number of factors the analysis becomes more and complicated.
Define Analog Model in Operation Management? Definition of Analog Model: A model in which one physical property is used to represent another physical property.
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2. ‘Good inventory planning needs time (scheduling) and costs money.’ Critically evaluate this statement using examples (from inventory systems) to illustrate your understanding o
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