Simulation Modeling
Simulation of Queuing System Example 1: Simulation of Queuing System People arrive at the New Delhi Railway station to buy tickets according to the following …
Read MBA, BBA, B.COM Notes
Simulation of Queuing System Example 1: Simulation of Queuing System People arrive at the New Delhi Railway station to buy tickets according to the following …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …