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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.
classification on the bases of function or purpose
Categories of Information in Social Sciences: It would be useful, particularly in social sciences, to group information into three categories: • Statistical Information
Ask questioA farmer intends to drill a well for his herd. In the past, only 80% of the wells drilled in this area were successful at 12 metres of depth. On finding no water at 12 m
Books: Books form one of the primary sources of information. They provide a cohesively organised (thought content) information on a specific subject of optimum depth. Since b
Method of calculation of Mode Calculation of Mode Individual series: For determining mode count the number of times the various values repeat themselves and the va
Model building is the essence of the operations research approach? Discuss.
This is determined by disposable personal income( personal income minus direct taxes and other deductions ). Some people suggest the use of discretionary income in place of
Family Application specialises in selling major appliances for use in kitchen remodelling. One of its more popular items is the SubZero refrigerator. Over the past 40 weeks, the
Dewey's Principle: Melvil Dewey's principle states: "The best reading for the largest number at the least cost" According to this principle a library should select, within the
The sequencing problems arises whenever there is problems in determining the sequence ( order) in which a member of tasks can be performed by a number of service facilities su
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