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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.
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
b. 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
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
what are the classification of or model
Cost The cost factor is a very important factor in determining the size of the sample. The budget for research should be properly decided. The management may not lik
#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
describe the problems of operation management
1. Determination to enter a new territories. 2. To decide to enter a new market or not. 3. To determine how much production capacity to be builds up. 4. Helpful in
Scope of operation research?
This methods studies development from simpler forms through a long series of a small change. Each change by itself results in minor modification in the phenomenon but the
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