The transportation problem involves optimizing shipment costs from multiple sources to multiple destinations with known supply and demand constraints. This chapter discusses the characteristics of transportation problems, key assumptions, and how to formulate the transportation model. Dr. Wasihun T.

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Decision theory plays a crucial role in business decision-making under conditions of uncertainty. This chapter explores the key characteristics of decision theory, including alternatives, states of nature, payoffs, degree of certainty, and decision criteria. It also introduces the concept of payoff

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