[Page 789 ( continued )] - back order
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a customer order that cannot be filled from existing inventory but will be filled when inventory is replenished -
- backward pass
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a means of determining the latest event times in a CPM/PERT network -
- balanced transportation model
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a model in which supply equals demand -
- basic feasible solution
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any solution in linear programming that satisfies the model constraints -
- basic variables
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in a linear programming problem, variables that have values (other than zero) at a basic feasible solution point -
- Bayesian analysis
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a method for altering marginal probabilities, given additional information; the altered probabilities are referred to as revised or posterior probabilities -
- Bernoulli process
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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
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a probability distribution used in network analysis for determining activity times -
- binomial distribution
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a probability distribution for experiments for which the Bernoulli properties hold -
- branch
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in a network diagram, a line that represents the flow of items from one point (i.e., node) to another -
- branch and bound method
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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
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the determination of the number of units that must be produced and sold to equate total revenue with total cost -
- break-even point
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the volume of units that equates total revenue with total cost -
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