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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 & 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.
Principles of Report Writing Reports writing may involve the followings principles . a. Easy to Follow : The body of the report should be written in a self evident and
a paper mill prodecs 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 in
CRITICAL EXAMINATION OF THE APPLICATION OF DECISION THEORY TECHNIQUES OR MODEL IN BUSINESS DECISION MAKING IN NIGERIA
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
application&techniques
Goal Programming This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals c
Operation reac Involves the use of mathematical models, equations and similar other mathematical expressions. Assumptions are always incorporated in the derivation of an equa
Task1:- A company is currently involved in negotiation with its union on the upcoming wage contract. Positive signs in the table represent wage increase while negative sign represe
. 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
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