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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.
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
Categories of Information in Social Sciences: It would be useful, particularly in social sciences, to group information into three categories: • Statistical Information
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STANDARA DEVIATION Standard deviation is the square root of the arithmetic average of squares of all the deviations from the mean. In short it may be defined as th
The supply of a certain good is inspected periodically. If an order is placed of size x >0 (integer), the ordering costs are 8+2. x. The delivery time is zero. The demand is stoc
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
Sequential Samplin The previous has shown that the sampling units were drawn prior to the drawing of the actual sample and has a fixed size. But the sequential sa
You are a manager at a medium sized manufacturing operation that sells a customized product directly to the consumers and the data pattern is linear but it can have the occasion ra
On the Basis of Ratio of Change Direction a. Linear Correlation: The correlation between two variables a said to be liner if corresponding to a unit change in th
regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual
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