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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
Each day you own 0 or 1 stocks of certain commodity. The price of the stock is a stochastic process that can be modeled as a Markov chain with transition rates as follows
Determination of effectiveness Measures: Effectiveness measure is a measure of success of a model in representing a problem and providing a solution. It is the connecting link
disadvantages of model in operational research
Support Supporting materials is vital for making the presentation effective. It clarifies the speaker ideas makes the presentation more illuminating as well as intere
Advantages of Mode a.It is easy to understand as well as easy to calculate. In can be found out by inspection. b.It is usually an exacta value as it occurs most fre
what is meant by Application Areas of Linear Programming?
Institutional Characteristics: An approach to an understanding of the fields of interest of individuals to be served and of the organisation as a whole could begin by acquiri
b. 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 pape
The action phase consists of making recommendations for remedial action to those who first posed the problem and who control the operations directly. These recommendatio
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