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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.
Use the following article on qualitative approaches written by Kahlke (2014), http://ejournals.library.ualberta.ca/index.php/IJQM/article/viewFile/19590/16141/ to answer the fol
Operations Research uses the methods of science to understand and explain the phenomena of operating systems. It devises the theories( models ) to explain these phenomena
Determining Sample Size for Estimating poportions It is necessary to determining the sample size for a problem involving proportions. This deals with the percentage of f
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
A company manufactures 2 kinds of hats. Each hat of the I type needs twice as much as labour time as the II type. The company can manufacture a sum of 500 hats a day. The market re
Requisites of a Good Scientific Methods The essentials of a good scientific methods as summed up by the advisory committee on economic and social research of the council of
identify a new technological innovation not yet commercialized (e.g., house cleaning robotic). What are the product''s features? In your paper, explain how that technological innov
Cohen Chemicals, produces two types of photo-developing fluids. The first, a black and white picture chemical, costs Cohen $2500 per ton to produce. The second, a colour photo chem
Teesside Construction is developing a schedule for a major building project to start in 04/01/2011 in Middlesbrough, UK. The project manager has identified major activities of the
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