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Merits
a.It is simple to understand and easy to calculate.
b.It is very useful in the case of data which are of qualitative nature like intelligence honesty beauty efficiency etc.
c.No other methods can be used when ranks are given except this.
d.When the actual data are given this method can also applied.
1) Provide a description of the required factors of production, grouping them according to whether the factors of production are a) Fixed and hence unlikely to vary much accord
Model building is the essence of the operations research approaches?
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
What Is operation Research
Steps of Research Process The steps of research process have already been discussed in theory. Here we shall outline the procedure of conducting the research. i) Formulate t
Maximize6x1+8x2+5x3,st,labour3x1+4x2+5x3 =0 then brefly explain x1,x2,x3;term labour,metal&plastic;the160hours;x1,x2&x3>=0
What are the features of blending model
Making Decision Lastly a decision should be arrived as to whether the null hypothesis is to be accepted or rejected. In this regard the value of the test statistic
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
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