Mathematics & Statistics

Mathematics & Statistics – Explore the world of maths with our comprehensive coverage of research and resources. Your one-stop resource for maths and statistics study. We offer comprehensive Mathematics & Statistics articles to help you improve your math and stats skills, including Operation Research, LPP, Inventory, Network Analysis, Graph Theory, Sequence, Set Theory, Mathematical Induction, Business Statistics, Data, Information, Measure of Central Tendency, Measure of Variations, Classification, Tabulation of data, Time Series, Index Numbers, etc.

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. […]

purpose of statistics, meaning of statistics
Business Statistics & Statistics

Meaning of Statistics

Lata Agarwal

Meaning of Statistics – There are two meanings of “statistics”, i.e., the term “statistics” is employed in two senses: first in plural … […]

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… […]

scope or applications of operation research in various fields
Mathpedia

Scope / Applications of Operation Research

Lata Agarwal

OR is useful to the Industry Director in deciding optimum allocation of various limited resources such as men, machines, material, money… […]

characteristics of operation research, Significant features or Nature of of Operation Research
Operation Research

Significant features / Nature / Characteristics of Operation Research

Lata Agarwal

By OR techniques, we cannot obtain perfect answers to our problems but, only quality of the solution is improved from worse to bad… […]