Open Access
Journal Article
Multivariate Statistical Analysis in Operations Research
by
Michael Smith
ORS 2021 3(2):21; 10.69610/j.ors.20210814 - 14 August 2021
Abstract
The title "Multivariate Statistical Analysis in Operations Research" encapsulates the intersection of statistical methodologies and operational decision-making processes. This paper delves into the application of multivariate statistical techniques within the field of operations research (OR). Operations research involves the use of mathematical models, statistical analysis, an
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The title "Multivariate Statistical Analysis in Operations Research" encapsulates the intersection of statistical methodologies and operational decision-making processes. This paper delves into the application of multivariate statistical techniques within the field of operations research (OR). Operations research involves the use of mathematical models, statistical analysis, and optimization methods to make decisions in complex systems. The integration of multivariate statistical analysis into OR provides a more comprehensive understanding of data relationships and improves decision-making outcomes. This paper discusses various multivariate techniques such as principal component analysis (PCA), factor analysis, cluster analysis, and regression analysis, highlighting their applicability in OR. The benefits of these techniques in solving complex problems, identifying patterns in data, and optimizing operational processes are emphasized. Additionally, the paper examines the challenges and limitations associated with the application of multivariate statistical methods in OR and proposes potential solutions to enhance their effectiveness. By offering insights into the practical implementation of these techniques, the paper aims to contribute to the advancement of operations research and decision-making practices.