ABSTRACT
Science is of necessity used widely in business on the technical side in such fields as development of new products, processes, and production equipment but it is being used to a greatly increasing extent in the sphere of management and business economics. The difficulty of using science in the economic and business fields is that it is difficult to conduct isolated experiments to prove hypotheses arising from the observation of economic phenomena. Operations research is not a specialist function of science but a general application of science to a number of different fields. One of the main difficulties facing the manager of today is the number of variables he has to deal with, each of which interacts upon the other so that a variation in one or more factors will alter all the others and produce endless permutations and combinations. Stochastic methods can be applied equally effectively to small businesses as to large ones.
