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

Replacement theory, if the year or age is given from 0 how to solve then?...

if the year or age is given from 0 how to solve then?

Information resources, INFORMATION RESOURCES: Information resources ar...

INFORMATION RESOURCES: Information resources are of two kinds, namely, Documentary and Non-Documentary Sources. Documentary Sources: A document embodies thought. I

Linear programing, Solve the following Linear Programming Problem using Sim...

Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2

Shubham, what is the job scope in or?

what is the job scope in or?

Non-governmental organisation, Name the feature which is not normally assoc...

Name the feature which is not normally associated with a Non-Governmental Organisation (NGO)?  Government funded is the organisation.

Explain research terminology, Q. Explain Research Terminology? Research...

Q. Explain Research Terminology? Research Terminology - Independent and Dependent variables: There are many practical problems in which the values of one variable depend upon t

Regression, Regression line drawn as Y=C+1075x, when x was 2, and y was 239...

Regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual

Simple method, Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 =...

Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X 1, X2 = 0

C++ programs, C++ code for assignment problem

C++ code for assignment problem

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