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Questions and Answers
What is the main goal of the Queuing or Waiting-line Method in Operations Research?
To reduce customer wait times and dissatisfaction.
When is Linear Programming most suitable to be used in decision-making processes?
In situations with limited resources and multiple uses.
What is the primary focus of Game Theory in the context of Operations Research?
Selecting the best strategy considering own and competitors' actions.
What are the key components involved in Operations Research techniques?
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Why is it important for Operations Research to establish linear relationships among all elements in Linear Programming?
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What is the purpose of Simulation in a business context?
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What is an advantage of a Sole Proprietorship?
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What is a disadvantage of a Partnership?
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What is a key principle of Cooperatives?
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What is the advantage of a Line Organization structure?
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What is the main function of Electronic Data Processing (EDP)?
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What is a disadvantage of a Corporation?
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What is the main characteristic of a Multinational Corporation (MNC)?
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What is the main aim of a Management Information System (MIS)?
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What is one of the disadvantages of a Line and Staff Organization structure?
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