[Page 791 ( continued )] - LaPlace criterion
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a decision-making method in which all states of nature are weighted equally (more commonly known as the equal likelihood criterion) -
- latest activity time
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in a CPM/PERT network, the latest time at which an activity can be started without exceeding the critical path project time -
- linear programming
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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
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a form of regression that reflects the relationship of two variables -
- linear trend line
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a forecast that uses the linear regression equation to relate demand to time -
- long-range forecast
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a forecast that typically encompasses a period of time longer than 1 or 2 years -
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