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[Page 789 ( continued )]
back order

a customer order that cannot be filled from existing inventory but will be filled when inventory is replenished



backward pass

a means of determining the latest event times in a CPM/PERT network



balanced transportation model

a model in which supply equals demand



basic feasible solution

any solution in linear programming that satisfies the model constraints



basic variables

in a linear programming problem, variables that have values (other than zero) at a basic feasible solution point



Bayesian analysis

a method for altering marginal probabilities, given additional information; the altered probabilities are referred to as revised or posterior probabilities



Bernoulli process

a probability experiment that has the following properties: (1) each trial has two outcomes, (2) the probabilities remain constant, (3) the outcomes are independent, and (4) the number of trials is discrete



beta distribution

a probability distribution used in network analysis for determining activity times



binomial distribution

a probability distribution for experiments for which the Bernoulli properties hold



branch

in a network diagram, a line that represents the flow of items from one point (i.e., node) to another



branch and bound method

a solution approach whereby a total set of feasible solutions is partitioned into smaller subsets , which are then evaluated systematically; this technique is used extensively to solve integer programming problems



break-even analysis

the determination of the number of units that must be produced and sold to equate total revenue with total cost



break-even point

the volume of units that equates total revenue with total cost






Introduction to Management Science
Introduction to Management Science (10th Edition)
ISBN: 0136064361
EAN: 2147483647
Year: 2006
Pages: 358

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