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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
Demerits of Range a.It gives importance to the two extreme values and is very much affected by the extreme items. b.The range provides no information about the st
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scope of operation research in management
Discuss the methodology of operation research
Horton and hunt have given followings nine characteristics of scientific method: 1. Verifiable evidence i e, factual observations which other observers can see and check
The scientific methods is based on certain article of path these are: 1. Reliance on Evidence: Truth is established on the basis of evidence. Conclusion is admitted onl
Test Statistic The next step is compute an appropriate test statistic which is based on an appropriate probability distribution. It is used to test whether the null hypo
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Steps of Research Process The steps of research process have already been discussed in theory. Here we shall outline the procedure of conducting the research. i) Formulate t
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