Queueing theory is the mathematical study of waiting lines‚ or queues.[1] In queueing theory a model is constructed so that queue lengths and waiting times can be predicted.[1] Queueing theory started with research by Agner Krarup Erlang when he created models to describe the Copenhagen telephone exchange.[1] The ideas have since seen applications includingtelecommunications‚[2] traffic engineering‚ computing[3] and the design of factories‚ shops‚ offices and hospitals.[4] Contents [hide]
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Develop a solution 5. Test the solution 6. Analyze the results 7. Implement the results 2. Decision Theory Six steps in decision making 1. Define the problem 2. List possible alternatives 3. Identify possible outcome or state of nature 4. List the payoff or profit of each combination of alternatives and outcomes 5. Select one of the decision theory model 6. Apply the model and make decision a. Decision-Making under certainty In Decision-Making under certainty‚ decision makers know with certainty the
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OPEN UNIVERSITY MALAYSIA Managerial Economics Assignment QUESTION 1 A certain production process employs two inputs labor (L) and raw materials (R). Output (Q) is a function of these two inputs and is given by the following relationship: Q = 6L2 R2 - 0.10L3 R3 Assume that raw materials (input R) are fixed at 10 units. (a) Determine the total product function (TPL) for input L. (2 marks) (b) Determine the marginal product function for input L. (2 marks) (c) Determine
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389 | Initial investment | 100‚000.00 | 100‚000.00 | 100‚000.00 | Initial index level | 4‚637.893 | 4‚637.893 | 4‚637.893 | S&P/ASX index return | -18.31% | 23.73% | 79.66% | Investor’s return at maturity | 0.00% | 23.73% | 70.00% | Payoff at maturity | 100‚000.00 | 123‚731.06 | 170‚000.00 | Question 2 HSBC 100+ Series S&P/ASX 200 Linked Investment can be decomposed to the zero coupon bond(face value : $10‚000‚ interest rate 6% per annum annually compounded)‚ bought call
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Week 9: The Black-Scholes Solution And The “Greeks” (see also Wilmott‚ Chapter 6‚7) Lecture VIII.1 Plain Vanilla The goal of the next two lectures is to obtain the Black-Scholes solutions for European options‚ which belong to the type of basic contingent claims called ‘vanilla options’. These lectures may seem a bit too technical. However‚ I think‚ it is important to have at least some idea about how the BS equation is solved for various financial instruments. I will try my best to keep things
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current situation before any new direction is determined. This provides ALDI with an opportunity to examine the marketing environment‚ customer needs‚ and the competition. Since there are very few large supermarket chains in Australia such as the duopoly of Coles and Woolworths‚ Metcash and the IGA stores and ALDI it provides an advantage for ALDI to be highly competitive and an impetus to differentiate the product (Dhall‚ 2015). 2.1.2 Swot analysis The swot analysis is commonly used during the situation
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production‚ which tends to found in industries which face increasing returns to scale. If price were set equal to marginal cost‚ then: 14). A(n) ____ is characterized by a relatively small number of firms producing a product. 15). In the Cournot duopoly model‚ each of the two firms‚ in determining its profit-maximizing price-output level‚ assumes that the other firm’s ____ will not change. 16). The existence of a kinked demand curve under oligopoly conditions may result in 17). "Conscious parallelism
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TABLE OF CONTENTS CONCEPTS OF RISK AND UNCERTAINTY 1 Definition Economic Risk Economic risk is the chance of loss because all possible outcomes and their associated probabilities are unknown.Actions taken in such a decision environment are purely speculative‚ such as the buy and sell decisions made by speculators in commodity‚ futures and option markets. All decision makers are equally likely to profit as well as to lose‚ luck is the sole determinant of success or failure. 2 Definition of
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Test Details Sr. No. Name of Module Fees (Rs.) Test Duration (in minutes) No. of Questions Maximum Marks Pass Marks (%) Certificate Validity (in years) 1 Financial Markets: A Beginners’ Module 1500 120 60 100 50 5 2 Mutual Funds : A Beginners’ Module 1500 120 60 100 50 5 3 Currency Derivatives: A Beginner’s Module 1500 120 60 100 50 5 4 Equity Derivatives: A Beginner’s Module 1500
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loan administration. Losses related to poor loan administration are by definition avoidable and therefore all the more painful. Loan administration: Loan administration encompasses the activities by which a bank ensures--from origination to final payoff--proper loan documentation‚ accurate loan accounting systems‚ and disbursement and collection of principal and interest. The administration aspect of a loan from the time the proceeds are dispersed until the loan is paid off. This includes sending
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