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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.
Usefulness of Correlation 1.Correlation is very useful to economists to study the relationship between variables like price and quantity demanded. To businessmen it
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
What are artificial variable why do you need them
Limitation The report should also point out the main limitation of the research reported therein. This will be helpful to the reader who can form his own opinion
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Title Page Tthe title page should indicate the topic on which the report has been prepared the person or agency who has prepared it the person a agency for whom it
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 ot grade Y paper in
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