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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.
Decision making is not only the headache of management rather all of us make decisions. We daily decide about minor issues. The essential characteristics of all decisions
An electro-mechanical product for use in a vehicle has been in widespread use for some time and has proved popular with customers, in terms of its operational performance and price
SOLVE THE FOLLOWING LP USING SIMPLE METHOD MAXIMIZE Z=3X1+2X2 SUBJECT TO CONSTRAINT X1+X2 X1-X2 X1,X2>=0
1. Determination to enter a new territories. 2. To decide to enter a new market or not. 3. To determine how much production capacity to be builds up. 4. Helpful in
The systematic methodology developed for an operation research study with problems involving conflicting multiple objective policies and alternatives. Operation research in
POSSON DISTRIBUTION In binomial distribution the value of n was finite. But there are few problems when cannot be estimated. So in these binomial distribution
Principles of Report Writing Reports writing may involve the followings principles . a. Easy to Follow : The body of the report should be written in a self evident and
ONE SAMPLE RUNS TEST A number of methods have been developed fro judging the randomness of samples on the basis of the order in which teh observations are taken. It is
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scope of the operation research in modern management?
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