[Page 792 ( continued )]
random number table

a table containing random numbers derived from some artificial process, such as a computer program

random numbers

numbers that are equally likely to be drawn from a large population of numbers

random variable

a variable that can be assigned numeric values reflecting the outcomes of an event; because these values occur in no particular order, they are said to be random

random variations

movements in a forecast that are not predictable and follow no pattern


a statistical technique for measuring the relationship of one variable to one or more other variables ; this method is used extensively in forecasting

regression equation

an equation derived from historical data that is used to forecast


a value representing the regret the decision maker suffers when a wrong decision is made

relative frequency probability

another name for an objective (a posteriori) probability; it represents the relative frequency with which a specific outcome has been observed to occur in the long run

reorder lead time

the time between the placement of an order and its receipt into inventory

reorder point

the inventory level at which an order is placed

rim requirements

the supply and demand values along the outer row and column of a transportation tableau

risk averter

a person who avoids taking risks

risk taker

a person who takes risks in the hope of achieving a large return

Row operations

are used to solve simultaneous equations where equations are multiplied by constants and added or subtracted from each other


a sequence of sample values that displays the same tendency in a control chart

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

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