Basically it is a branch of mathematics which provides a solid base to management to take timely and effective decision for any organization.
“The objective of Operations Research is to provide a scientific basis to the decision maker for solving the problems involving the interaction of various components of an organization by employing a team of scientists from various disciplines, all working together for finding a solution which is in the best interest of the organization as a whole. The best solution thus obtained is known as optimal decision”.
Decisions may also be classified depending on the situations such as degree of certainty. For example,
The first two are two extremes and the third one is falls between these two with certain probability distribution.