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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 variab
The supply of a certain good is inspected periodically. If an order is placed of size x >0 (integer), the ordering costs are 8+2. x. The delivery time is zero. The demand is stoc
A company is planning its advertising strategy for the next year for its three major products.
Graphs of Time Series A time series is a sequence of values corresponding to successive points of time. Time series are graphed with time on the x axis and the oth
What Is operation Research
Uses of Mean Deviation Mean Deviation is rarely being used as a measure of dispersion. But due to easy and simplicity in calculation. It is rather useful in busin
retail outlet x y volume A 6 9 80
Uncertainly : There is a great uncertainly about economic and general environment. With economic growth uncertainty is also growing's. this makes each decisions costlier
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
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
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