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These models deal with the selection of an optimal course of action given the possible pay offs and their associated probability of occurrence. These models are broadly applied to problems involving decision making under risk and uncertainly.
Two Sample Tests In some situation the researchers may be taking statistical decisions based on two samples. Each of the two samples may represent a particular under con
Maximize6x1+8x2+5x3,st,labour3x1+4x2+5x3 =0 then brefly explain x1,x2,x3;term labour,metal&plastic;the160hours;x1,x2&x3>=0
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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 paper i
This is a procedure of determining the potential if any for improving each of the non basic variables in terms of the objective function. To determine this potential each of
Calculation of Standard Deviation - Continuous Series: In the continuous series the methods of calculation standard deviation is almost the same as in a discrete frequency distrib
What is the role of decision making in OR
The Best Corporation is considering making either minor or major repairs to a malfunctioning production process. When the process is malfunctioning, the percentage of defective it
Higher Order Table When three or more characteristics are represented in the same table such a table is called higher order table. The need for such a table arises
User Groups: The next step would be to identify more specifically the potential user groups. This may be done on the basis of interviews, questionnaires, study of organisation
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