Here is the synopsis of our sample research paper on Expected Value, Decision Trees, Break Even Analysis and Waiting Line Theory. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 3 page paper looks at four topical giving a book definition then explaining the concept and giving examples of how it can be useful in quality and logistics. The topics are expected value, decision trees, break even analysis and waiting line theory. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEexpvalue.rtf
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Unformatted sample text from the term paper:
For any situation where there is a calculation or the use of an equation there will be a number of influences. The value that is expected is that which can
be assessed as the most likely outcome, this may be a single figure, or it may be within a range of outcomes. However, in many cases there will be the
potential forte value to arrive outside of the expected range. There are a number examples in the way that this can be applied in areas such as logistics and quality.
In logistics there will be the management of the movement of goods including route planning, the way expected values can be seen are in the mileage that the vehicles
are able to achieve and the planning for refueling and casts as well as the expected times that will be taken to travel between two points. In terms of
quality control there are issues such as the quality of the inputs into the process, with lower quality possibly resulting in a higher number of faults, usually measured as faults
per thousand or faults per million. Decision Trees A definition of a decision tree is a " graphical representation of all alternatives in a decision making process" (PC Mag,
2008). A decision tree is therefore a tool which will help with the process of decision making, allowing the different options to be placed into a order where each action
taken as part of a decision or process, or incident following an event is considered along its own branch and looking at the potential consequences. The process starts with a
single point then there are branches off for the possible alternatives, this goes on and eventually look like a branch or a tree. It can be useful in order to
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