By W. E. Duckworth, A. E. Gear, A. G. Lockett (auth.)
There is not anything tougher to soak up hand. extra perilous to behavior. or extra doubtful in its good fortune. than to take the lead within the creation of a brand new order of items. as the innovator has for enemies all those that have performed good below the outdated stipulations. and lukewarm defenders in those that could do good below the hot. Machiavelli. The Prince whilst this ebook was once first written in 1959 i used to be myself a working towards operational examine employee in command of a small crew on the Glacier steel corporation, involved in utilizing Operational study philosophy and methods to aid remedy a number of the managerial difficulties contained in the corporation. approximately that point Operational learn used to be commencing to allure realization in business circles. Many fairly huge study teams have been being based. The commercial columns of the Sunday press and sure day-by-day newspapers have been filled with ads for Operational examine practitioners, at then rather appealing salaries.
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Additional info for A Guide to Operational Research, 1st Edition
In this approach values for the constants a and b defining the straight line are found which minimize the sum of the square of the deviations of the observed salaries from this line, measured parallel to the salary axis. , that is through the point: _ X = LX - (2) Y n ' (b) The 'best' slope of the line is given by: b = L(x - x) (y - y) L(x - x)2 (3) and the equation of the line becomes: (Y - y) (4) b(X - x) = (c) The standard error IX of an estimate of Y (say h) obtained by substituting a value x = Xk in Equation (4) is given by: - J[ IX-S I n (Xk- X)2] -+~( )2 "-X-X (5) where S2 = L(y_y)2 - b2 L(x-xf (n-2) (6) Note that, from Equation (5), IX is a minimum for Xk = x.
The complete set of alternative solutions is then generated by combining members of the component subsets. For example, a transportation system may require a means of propulsion, of changing direction, and of changing speed. In turn, the energy for propulsion might be obtained from chemical fuel, nuclear fuel, solar energy conversion, and so on. Each possible solution to the overall problem, identified in this way, can then be evaluated in technical and economic terms. At this stage it is probable that one or more of the other techniques would also be used in order to produce an actual forecast.
Intuitive thinking Intuitive forecasting is based on informal thinking about the future without recourse to external data or analysis in a very formalized manner. The forecast may be produced by an individual or by a group, and so a number of approaches can be identified. Individual thinking An expert produces a forecast without interaction with others. The problem with a forecast of this kind is that the thought processes are unlikely to be made explicit; they thus pass unquestioned, and the quality of the output depends on the accumulated knowledge and experience of an individual.