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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 DRUG MANUFACTURER produces 2 products X1 and X2.X1 needs 2 hours on machine A AND 2 HOURS ON MACHINE B.X2 needs 3 hours on machine A and 1 hour on machine B.If machine A can run
Customers arrive to a super market according to a Poisson process with intensity V = ½ per minute. The supermarket has two counters, that use a common queue. Counter 1 is always o
a. Determine the following with respect to decision making approaches: (i) Group decision making (ii) Directive, analytic, conceptual and behavioral decision making styles (8
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
main components of linear programming
Choose a publicly traded company (NYSE, AMX, or OTC) that interests you. If you don't know how to choose a company, think of IBM, DELL computer, Nike, Apple computer, GM, Ford, Nok
Meaning of Linear programming problem and explanation of graphical method of solving Linear Programming Problem
Why Two regression Lines Once regression line cannot minimize the sum of square of deviations for both the x and Y series unless the relationship between them indicat
Each day you own 0 or 1 stocks of certain commodity. The price of the stock is a stochastic process that can be modeled as a Markov chain with transition rates as follows
Describe Operation Research and discuss its applications in various organizations. A company assembles heavy duty refrigerators and uses two types of compressors A & B. Two comp
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