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Game Theory
Game theory was developed for the purpose of analyzing competitive situation involving conflicting interests. In game theory, there are assumed to be two or more persons with different objectives, each of whole action influences, but does not completely determine the outcome of the game. Each person is assumed to know his opponents objectives. Game theory provides solutions to such games assuming that each of the players is to maximize his minimum expected profit or minimize his maximum expected loss. This criterion (which is based on a conservative view of the problem) is referred to as Minima or maximum criterion.
Under this method, approximated profit is calculated depends on transactions of the ensuing period. Afterward, decrease or increase in working capital is determined adjusting the e
differentiate between multiple product, selling product and margin managent
Cost oriental pricing policy Cost of production of a product is the most important variable and most important determinant of its price. There may type of costs such as-fixe
what are the factors should be considered before terminated the operation of a losing firm??
Project C would involve a current outlay of $50,000 on equipment and $15,000 on working capital. The investment in working capital would be increased to $21,000 at the end of the f
Constraints 1) A constraint of the type ≤ (≥) can be converted to an equation by adding a slack variable to (subtracting a surplus variable form) the left side of the constrain
Service time-probability distribution curve A common example is that service times follow an exponential probability distribution i.e. y=e -x Service channels - t
prepare all budgets
Balanced Score Card This is a popular approach in current management thinking which consists of a variety of indicators both financial and non-financial. The balanced scorecard
Replacement cost It is the cost of replacing a material or asset, by purchase from the current market. If an X material was originally purchased @ Rs. 250 per Kg. And know i
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