MB0048 - OPERATIONS RESEARCH

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Master of Business Administration - MBA Semester 2

MB0048 - OPERATIONS RESEARCH

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question1. Explain the process of OR.

Answer:

Operations Research is “the use of mathematical models, statistics and algorithms to aid in decision-making. It is

Question2.  a. Discuss any four applications of linear programming.

Answer2a. Four applications of linear programming are as follows:

1.      Marketing applications:

·         Main application of linear programming in marketing is “media selection”.

·         Linear

b. An organisation produces X1 and X2 units of products R and S, respectively. In this case, the objective function and constraints are expressed as follows:

Maximise                        Z = 60X1 + 120X2

 Subject to,                     3X1 + 6X2   ≤   240         Raw material constraint                    

                                          2X1 + 4X2   ≤   800        Labour hours constraint             

                                          X1, X2         ≥   0            Non-negativity condition

Use graphical method to determine how many units of products R and S the organisation should produce to maximise its profits.

Answer 2(b) - Here,

We have to maximise Z = 60X1 + 120X2

Question3.a. Explain the concept of Trans-shipment.

Answer3(a). Transhipment is the act of off-loading a container from one ship and loading it onto another ship. In any service operated by any line there are practical restrictions in terms of coverage of ports.. There is no shipping line that can cover all ports around the world on a single service and therefore the

b. Solve the following transportation problem using North-west corner method & Matrix minimum method.

Answer3(b).

Question4. The processing time of four jobs and five machines (in hours, when passing is not allowed) is given in following table

a. Find an optimal sequence for the above sequencing problem.

b. Calculate minimum elapsed time & idle time for machines A, B, C, D & E.

Answer4.

The Processing time for the new problem is given below:

The optimal sequence is

2

1

4

3

Question5. Define following criteria’s used for decision making under Uncertainty

a. Optimism (maximax or minimin) criterion

Answer 5(a).

Maximax (Optimist)

The

b. Pessimism (maximin or minimax) criterion

Answer5(b).

Maximin (Pessimist)

The maximin person looks at the worst that could happen under each action and then choose the

c. Equal probabilities (Laplace) criterion

Answer5(c).

Laplace criterion is also called as law of equal probabilities criterion or criterion of rationality, since

d. Coefficient of optimism (Hurwicz) criterion

Answer5(d).

A compromise between the maximax and maximin criteria. The decision maker is neither totally optimistic (

e. Regret (salvage) criterion

Answer5(e).

The minimization of regret that is highest when one decision has been made instead of another. In a

Question6. Explain the following:

a. Economic Order Quantity(EOQ)

Answer6(a).

Economic order quantity (EOQ) is an equation for inventory that determines the ideal order quantity a company should purchase for its inventory given a set cost of production, demand rate and other variables

 b. PERT and CPM

Answer6(b).

PERT stands

c.  Applications of queuing models

Answer6(c).

Queueing

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