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In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
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
CRITICAL EXAMINATION OF THE APPLICATION OF DECISION THEORY TECHNIQUES OR MODEL IN BUSINESS DECISION MAKING IN NIGERIA
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
These models are used to develop a method to evaluate the merit of alternative courses or action by representing with a mathematical model of the problems where various variab
scope of operation research
Types of Correlation 1. Positive Correlation : When the values of two variables move in the same direction .e. when an increase in the values of one variables is ass
MEAN DEVIATION Mean deviation of a series is the arithmetic average of the deviations of various items from the median or mean of that series. Median is preferred
A paper mill prouduces two grads of paper viz., X and Y. Becouse of raw material restriction, it cannot product more then 400 tons of grade X paper and 300 tons of grade Y paper in
explanation
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