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[Page 791 ( continued )]
LaPlace criterion

a decision-making method in which all states of nature are weighted equally (more commonly known as the equal likelihood criterion)



latest activity time

in a CPM/PERT network, the latest time at which an activity can be started without exceeding the critical path project time



linear programming

a management science technique used to determine the optimal way to achieve an objective, subject to restrictions, in cases in which all the mathematical relationships are linear



linear (simple) regression

a form of regression that reflects the relationship of two variables



linear trend line

a forecast that uses the linear regression equation to relate demand to time



long-range forecast

a forecast that typically encompasses a period of time longer than 1 or 2 years






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

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