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These models are used to develop a method to evaluate the merit of alternative courses or action by representing with a mathematical model of the problems where various variables are random. That is these provide a means for generating representative samples of the measures of performance variable. Such repetition of the process by using the simulation models provides an indication of the merit of alternative course of action with respect to the decision variables.
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
Graphic Methods a. Scatter Diagram: Scatter diagram is a special type of dot chart. Under this methods the given data are plotted in a graph paper in the form of d
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mile-high microbrewery makes a light beer and a dark beer. mile-high has a limited supply of barley, limited bottling capacity, and a limited market for light beer. profits are $0.
in a rectangular game ,pay of matrix of player A is as follows
How to solve linear programming problems using simplex method introducing slack variable,surplus variable and artificial variable
simple Size When a survey is undertaken and it is not possible to cover the entire population, the marketing researcher has to answer a basic question - how large s
Stratified Sample Size The sampling study has depended much on the stratified sample to reduce the sampling error, samples size may have a number of strata or cluster
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Requisites of a Good Scientific Methods The essentials of a good scientific methods as summed up by the advisory committee on economic and social research of the council of
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