Underrisk decisionmakingunder decisionmakingunder

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Unformatted text preview: in system Probability of queue length Queuing & cost behavior Queuing & cost behavior Total cost Cost of service Cost of waiting DECISION THEORY Decision Theory DecisionTheory The decision making environment Under certainity Under uncertainity Under risk Decision making under Decision making under uncertainity Laplace Criterion Maxmin Criterion Minmax Criterion Maxmax Criterion Minmin Criterion Salvage Criterion Hurwicz Criterion Inventory management Inventory management Inventory is vital to the sucessful functioning of manufacturing and retailing organisations. They may be raw materials, work­in­progress, spare parts/consumables and finished goods. Models Models Deterministic Inventory Model Inventory Model with Price breaks...
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This note was uploaded on 02/13/2014 for the course QNM 225 taught by Professor Karenbergin during the Spring '13 term at Seneca.

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