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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.
What are artificial variable why do you need them
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
Importance of models
what are the models of operational research?
Scattered Responsibility and Authority: In a big industry responsibility and authority of decisions making is scattered throughout the organization and thus the organization.
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
Support Supporting materials is vital for making the presentation effective. It clarifies the speaker ideas makes the presentation more illuminating as well as intere
Cost The cost factor is a very important factor in determining the size of the sample. The budget for research should be properly decided. The management may not lik
1 strategic implication of product and process decisions 2 process planning and design 3 work measurement
Determination of effectiveness Measures: Effectiveness measure is a measure of success of a model in representing a problem and providing a solution. It is the connecting link
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