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Restriction in Assignment

It is sometimes possible that a particular person is incapable of doing certain work or a specific job cannot be performed on a particular machine. The solution of the assignment […]

Unbalanced Assignment Problems

Whenever the cost matrix of an assignment problem is not a square matrix, that is, whenever the number of sources is not equal to the number of destinations, the assignment […]

Testing For Optimality

Once the feasible solution is obtained, the next step is to check whether it is optimum or not. There are two methods used for testing the optimality: Stepping-stone Method Modified […]

General Structure of Transportation Problem

The Transportation Method of linear programming is applied to the problems related to the study of the efficient transportation routes i.e. how efficiently the product from different sources of production […]

Duality: Concepts, Significance

The Duality in Linear Programming states that every linear programming problem has another linear programming problem related to it and thus can be derived from it. The original linear programming […]

Methods of Solving: Graphical and Simplex 

The Graphical Method (graphic solving) is an excellent alternative for the representation and solving of Linear Programming models that have two decision variables. Exercise #1: A workshop has three (3) […]

Formulation of Linear Programming

MAXIMIZATION CASE Let’s understand the maximization case with the help of a problem. Suppose a firm produces two products A and B. For producing the each unit of product A, […]

Linear Programming Problem

The Linear Programming problem is formulated to determine the optimum solution by selecting the best alternative from the set of feasible alternatives available to the decision maker. Assumptions of Linear […]

Ordinary Least Square Method of Regression

Ordinary least squares (OLS) regression is a statistical method of analysis that estimates the relationship between one or more independent variables and a dependent variable; the method estimates the relationship […]

Regression: Meaning, Assumption, Regression Line

REGRESSION Regression is a statistical measurement used in finance, investing and other disciplines that attempts to determine the strength of the relationship between one dependent variable (usually denoted by Y) […]

Coefficient of Determination and Correlation

COEFFICIENT OF DETERMINATION The coefficient of determination (denoted by R2) is a key output of regression analysis. It is interpreted as the proportion of the variance in the dependent variable […]