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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.
What are the basic 5 elements of modeling process
A paper mill produces two grades of paper viz., X & Y. Because of raw material restrictions, it cannot produce more 400 tons of grade X paper & 300 tons of grade Y paper in a week.
Chi Square Test for Independence of Attribute The chi square test can be used to find out whether two or more attributes are associated or not. This test helps in fin
Explian scope and concept of Operations research?
discuss the significance of oparation research
Significance of operation research
Explain the classification of models 1. Classification by function or uses 2. Classification by degree of qualification 3. Classification by physical characteristics 4. Classidicat
DISCUSS THE SIGNIFICANCE AND SCOPE OF OPERATION RESEARCH IN MODERN MANAGEMENT
Question 1 X Ltd. has Unit C which is not functioning satisfactorily. The following are the details of its fixed assets: Asset Date of acquisiti
disadvantages of model in operational research
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