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Question: (a) Distinguish between (i) a single-channel and a multiple-channel waiting line; (ii) a birth and a death process with regard to queueing theory. (b) Explain
An operation is a combination of different actions dealing with raw materials( e, g, men and machines) which form a structure from which an action with regard to broader ob
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
role of computer software operation research
2.Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on plant operations and m
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
nature and types of problems
model building is the essence of the operational research discuss
1. Determination to enter a new territories. 2. To decide to enter a new market or not. 3. To determine how much production capacity to be builds up. 4. Helpful in
Cost The cost factor is a very important factor in determining the size of the sample. The budget for research should be properly decided. The management may not lik
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