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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
Each day you own 0 or 1 stocks of certain commodity. The price of the stock is a stochastic process that can be modeled as a Markov chain with transition rates as follows
The Operations Function has always relied heavily on information for its smooth running. During this course information has been introduced as one of the five inputs to the convers
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
explain operation research with example.and also discuss the scope of OR in modern management.
Goal Programming This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals c
#questiona paper mill produce two grades of x&y.becouse of raw material reswtriction
Determining Sample Size for estimatingMeans a. Acceptable Errors: There may be several errors in the sample size. The researcher will have to decide those errors. Whic
Importance of models
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