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Statement–I : When there are a large number of decision variables (more than three) and constraints, iterative mathematical procedures like simplex method can be used for product-mix decisions. Statement–II : Monte Carlo is an approach for simulating the probability distribution by associating and then selecting random numbers.

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The UGC NET management syllabus consists of these 10 units:

Management
Organizational Behaviour
Human Resource Management
Financial Statements
Financial Management
Strategic Management
Consumer and Industrial Buying Behavior
Statistics for Management
International Business
Entrepreneurship Development


Statement–I : When there are a large number of decision variables <br />(more than three) and constraints, iterative mathematical procedures like simplex method can be used for product-mix decisions.<br /> Statement–II : Monte Carlo is an approach for simulating the probability distribution by associating and then selecting random numbers.






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