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Inventory models deal with the problem of determination of how much to order at a point in time and when to place an order. The main objective is to minimize the sum of three conflicting inventory costs. the cost of holding or carrying extra inventory the cost of shortage or delay in the delivery of items when it is needed a cost of ordering or setup. These are also useful in dealing with quantity discounts and selective inventory control.
if there were n workers and n jobs there would be
A paper mill produces two grades of paper viz., X & Y. Because of raw material restrictions, it cannot produce more 400 tons of grade X paper & 300 tons of grade Y paper in a week.
Types of Correlation 1. Positive Correlation : When the values of two variables move in the same direction .e. when an increase in the values of one variables is ass
write the scope of operation research
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
discuss the significance of oparation research
What is the role of decision making in OR
formulate the linear programming model of the table above
Telephone calls arrive at a switchboard in a Poisson process at the rate of 2 per minute. A random one-tenth of the calls are long distance. (a) What is the probability of at least
Level of Significance In testing a given hypothesis the maximum probability with which we would be willing to take risk is called level of significance of the test.
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