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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.
Exercise Define the terms used in LPP. Mention the advantages of LPP. What are the assumptions and limitations of LPP? A firm produces three pro
Calculation of Ranks Correlation Where Ranks are Given: When the actual ranks are given the steps followed are: a.Compute the difference of the two ranks (R1 and
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 pa
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
A paper mill products two grade of paper viz., X & Y. Because of raw material restriction, it cannot produce more than 400 tons of grade X paper & 300 tons of grade Y paper in a we
Scientific research is building of knowledge through collection of empirically verifiable facts. The term verifiable here means which can be checked by others for accuracy
#what are the methods of OR ?
MAX: 150 X1 + 250 X2 Subject to: 2 X1 + 5 X2 = 200 - resource 1 3 X1 + 7 X2 = 175 - resource 2 X1, X2 = 0 2. How many units of resource 1 are cons
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 ot grade Y paper in
BINOMIAL DISTRIUBITON This distribution (also known as Bernoulli distribution ) is useful in such an experiment where there are only two outcomes success or failure g
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