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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.
POSSON DISTRIBUTION In binomial distribution the value of n was finite. But there are few problems when cannot be estimated. So in these binomial distribution
Standard Deviation The standard deviation of samples (s) can be estimated by the pilot study past studies and the ranges of distribution. A pilot study may be conducted
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A certain type of machine breaks down at an average rate of 5/hour. the break down is in accordance with Poisson process.cost of idle machine hour is $15/hour. 2 repairmen Peter an
Ranganathan's Principles: Perhaps it would be worthwhile to consider the Five Laws of Library Science of Dr. S. R. Ranganathan as the basic guidelines for formulating the obje
A company manufactures two types of printed circuits. The requirements of transistors, resistors and capacitor for each type of printed circuits along with other data are given in
Advantages of Standard deviation a.Standard deviation is based on all the observations and is rigidly defined. b.It is amenable to algebraic treatment and possesses
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