Mathpedia

Explore the world of maths with our comprehensive coverage of research and resources. We offer comprehensive Mathematics articles to help you improve your math skills, including Operation Research, LPP, Inventory, Network Analysis, Graph Theory, Sequence, Set Theory, Mathematical Induction, etc.

Limitations of Statistics
Business Statistics & Statistics

Limitations of Statistics

Lata Agarwal

Statistics are numerical statements of facts. Statistical analysis is not possible for characteristics that cannot be expressed in numbers. […]

Scope Importance Application of Statistics
Business Statistics & Statistics

Scope / Importance / Application of Statistics

Lata Agarwal

Statistics has so many applications that it is often said, “Statistics is what statisticians do.” Governments, businesses, and people collect statistical data required in order to perform their activities efficiently and effectively. […]

Functions of Statistics
Business Statistics & Statistics

Functions of Statistics

Lata Agarwal

Statistics can also forecast how events will occur in the future. On the basis of statistical estimates, we can make future policy decisions. […]

objective of statistics, definition of statistics
Business Statistics & Statistics

Definition of Statistics

Lata Agarwal

Statistics is a branch of mathematics that deals with the collection, analysis, interpretation, and presentation of numerical data. […]

tools and techniques of operation research
Mathpedia

Tools and Techniques of Operation Research

Lata Agarwal

Tools and Techniques of Operation Research: Some of the important tools and techniques used in Operation Research are as follows: Linear Programming: In OR, Linear programming is used to find a solution for optimising a […]

classification of modelling in operations research, quantitative techniques of operation research models, characteristics or features of a good model in operation research, approaches and phases of operation research in decision making
Mathpedia

Quantitative Techniques / Brief Outlines of Operation Research Models

Lata Agarwal

Some of important models or techniques used in OR are as follows: Allocation (Distribution) Models: The resources or facilities are… […]

classification of modelling in operations research, quantitative techniques of operation research models, characteristics or features of a good model in operation research, approaches and phases of operation research in decision making
Mathpedia

Scientific Method for making decisions in Operation Research

Lata Agarwal

The scientific method in Operation Research for making decisions generally involves the following phases – Judgment Phase… […]

approaches or methodology of operation research, stages of development, phases
Mathpedia

Approaches / Phases / Methodology / Stages of Development of Operation Research

Lata Agarwal

Before proceeding to find the solution to a problem, first of all, one must be able to formulate the problem in the form of an … […]

Advantages and Disadvantages Limitations of Operation Research
Operation Research

Advantages and Disadvantages of Operation Research

Lata Agarwal

Advantages & Disadvantages of Operation Research: Operations Research also has certain limitations. These limitations are mostly related to the model building and money and time factors … […]

applications of operation research in management
Mathpedia

Applications of Operation Research in Management

Lata Agarwal

Some areas of management decision making, where the tools and techniques of OR have been successfully utilized are… […]