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Uncertainly : There is a great uncertainly about economic and general environment. With economic growth uncertainty is also growing's. this makes each decisions costlier and time consuming. Or is thus quite essential from reliability point of view.
Knowledge Explosion : Knowledge is increasing at a very fast rate. Majority of the industries are not up to date with the latest knowledge and are therefore at a disadvantage. Or teams collect the latest information for analysis purposes which quite useful for the industries.
Explain the classification of models 1. Classification by function or uses 2. Classification by degree of qualification 3. Classification by physical characteristics 4. Classidicat
Decision making is not only the headache of management rather all of us make decisions. We daily decide about minor issues. The essential characteristics of all decisions
Introduction to Probability Distribution By theoretical distribution we mean a frequency distribution which is obtained in relation to a random variable by some mathem
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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Level of Significance In testing a given hypothesis the maximum probability with which we would be willing to take risk is called level of significance of the test.
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
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 in
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