Operation research and decision making, Operation Research

Assignment Help:

Operations Research uses the methods of science to understand and explain the phenomena of operating systems. It devises the theories( models ) to explain these phenomena uses these theories to describe what takes under altered conditions and checks these predictions against new observations. Thus, " Operations Research is a tool employed to increase the effectiveness of managerial decisions as an objective supplement to the subjective feeling of the decisions maker."

For instance in distribution or allocation areas, O R may suggest teh best locations for agencies warehouses as well as the most economical kinds of transportation in marketing areas it may aid in indicating the most profitable type use and size of advertising campaigns in regard to available financial limit. O R may suggest alternative courses of action when a problems is analyzed and a solution is attempted. However the study of complex problems by O R techniques becomes useful only when a choice between two or more courses of action is possible.

O R may be regarded as a tool that enables the decision maker to be objective in creating alternatives and choosing an alternative which is best from among these.


Related Discussions:- Operation research and decision making

Assignments, A paper mill produces two grades of paper viz., X and Y. Becau...

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

#titleAssignment Problem.., Six Operators are to be assigned to five jobs w...

Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment

Linear programming, 3. A paper mill produces two grades of paper viz., X an...

3. 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 pape

Information resources - selection principles, INFORMATION RESOURCES - SELEC...

INFORMATION RESOURCES - SELECTION PRINCIPLES: Selection of materials for a library requires sagacity, adroitness and attention to people's needs for everything from books and

Determining sample size for estimating poportions, Determining Sample Size ...

Determining Sample Size for Estimating poportions It is  necessary  to determining  the sample size for a  problem involving  proportions. This deals  with the percentage of f

Linear programming problem, Solve the following Linear Programming Problem ...

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

Non parametric tests - hypothesis testing, NON PARAMETRIC TESTS All  ...

NON PARAMETRIC TESTS All  practical  data follow normal distribution under  such situations can estimate the  parameters such  as mean  variance etc ,,, and use the  standard

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd