### M/M/I/FIFO

M/M/1 (N/FIFO) System : Queuing Models It is a queuing model where the arrivals follow a Poisson process, service times are exponentially distributed and there is only one server. Capacity of the […]

### Queuing Theory Meaning, Concepts and assumptions of queuing models

Queuing theory is the study of queues and the random processes that characterize them. It deals with making mathematical sense of real-life scenarios. For example, a mob of people queuing up at a bank […]

### Resource Planning and Meaning of Crashing

Resource Planning Resource planning refers to the strategy for planned and judicious utilisation of resources. Resource planning is essential for sustainable existence of all forms of life. Resource planning is […]

### Analysis with the help of PERT and CPM

Program Evaluation and Review Technique (PERT) is a method used to examine the tasked that are in a schedule and determine a variation of the Critical Path Method (CPM). It analyzes […]

### Meaning of Networking

Meaning of Network Technique Network technique is a technique for planning, scheduling (programming) and controlling the progress of projects. This is very useful for projects which are complex in nature […]

### Solution of Game Theory Problems with the Help of Graphical, Algebraic, and Simplex Methods

This method can only be used in games with no saddle point, and having a pay-off matrix of type n X 2 or 2 X n. Example: Graphical Method for […]

### Game Theory Pure and Mixed Strategies, Principle of Dominance

Pure strategy A pure strategy is an unconditional, defined choice that a person makes in a situation or game. For example, in the game of Rock-Paper-Scissors,if a player would choose […]

### Decision under Certainty, Uncertainty, and Risk

Decision-making under Certainty A condition of certainty exists when the decision-maker knows with reasonable certainty what the alternatives are, what conditions are associated with each alternative, and the outcome of […]

### Travelling Salesman Problem

Problem Statement A traveler needs to visit all the cities from a list, where distances between all the cities are known and each city should be visited just once. What […]