SUMMER-2015
Get solved
assignments at nominal price of Rs.120 each.
Mail us at: subjects4u@gmail.com or contact at
09882243490
Master of
Business Administration- MBA Semester 2
MB0048-Operations
Research-4 Credits
(Book ID:
B1631)
Assignment (60 Marks)
Note: Answer all questions within 300 to 400 words
each. Each Question carries 10 marks 6 X 10=60
Q1. What are the features of
operations research? What are the limitations of operations research?
Answer. Operations research OR mean to apply scientific and
mathematical methods for decision making and problem solving. OR does not provide decisions else it
provides quantitative data to the managers. The managers use this data for
making decisions.
Features:-
1. Creating
a Model: OR first makes a model. A model is a logical representation of a
problem. It shows the relationships between the different variables in the
problem. It is just like a mathematical formula.
For e.g.
Assets - Liabilities = Capital + Accumulated Reserves.
2. Shows
Important Variables: OR shows the variables which are important for solving the
problem. Many of the variables are uncontrollable.
3. Symbolizes
the Model: The OR model, its variables and goals are converted into
mathematical symbols. These symbols can be easily identified, and they can be
used for calculation.
4. Achieving
the Goal: The main goal of OR is to select the best solution for solving the
problem.
5. Quantifying
the Model: All variables in the OR model are quantified. That is, they are
converted into numbers. This is because only quantified data can be put into
the model to get results.
6. Using
Mathematical Devices: Data is supplemented with mathematical devices to narrow
down the margin of error.
7. Use of
Computer: The main focus is on decision-making and problem solving. For this
purpose computers are widely used.
Q2. a. Explain the graphical method
of solving Linear Programming Problem.
b. A furniture manufacturing company
plans to make two products: chairs and tables- from its available resources,
which consists of 400 board feet of mahogany timber and 450 man-hours of
labour. It knows that to make a chair requires 5 board feet and 10 man-hours
and yields a profit of Rs.45 while each table uses 20 board feet and 15
man-hours and has a profit of Rs.80.
Formulate the LPP to maximize the
profit.
Answer. a). Linear programming (LP,
or linear optimization) is a mathematical method for determining a way to achieve the best
outcome (such as maximum profit or lowest cost) in a given mathematical model
for some list of requirements represented as linear relationships. The
procedure for mathematical formulation of a linear programming problem consists
of the following major steps:
Q3.
a. List the steps of the Vogel’s Approximation Method (VAM) to find the
initial feasible solution.
b. The XYZ manufacturing company has
a current transportation schedule which is being questioned by the top
management as to whether or not it is optimal. The firm has 3 factories and 5
warehouses. The unit transportation costs (in Rs.), factory capacities, and
ware house requirements are given below. Find the initial feasible solution
using Vogel’s Approximation Method (VAM).
|
Warehouse
|
Factories
|
Warehouse requirements
|
||
|
A
|
B
|
C
|
||
|
1.
|
50
|
40
|
80
|
400
|
|
2.
|
80
|
70
|
40
|
400
|
|
3.
|
60
|
70
|
60
|
500
|
|
4.
|
60
|
60
|
60
|
400
|
|
5.
|
30
|
50
|
40
|
800
|
|
Factory availability
|
800
|
600
|
1100
|
2500
|
Q4. a. What is Integer Programming
Problem (IPP).
b. Explain Gomory’s all integer
algorithm of an IPP.
Q5. a. Explain Monte Carlo
Simulation.
b. A Company produces 150 cars. But
the production rate varies with the distribution.
|
Production Rate
|
147
|
148
|
149
|
150
|
151
|
152
|
153
|
|
Probability
|
0.05
|
0.10
|
0.15
|
0.20
|
0.30
|
0.15
|
0.05
|
At present the track will hold 150
cars. Using the following random numbers determine the average number of cars
waiting for shipment in the company and average number of empty space in the
truck. Random Numbers 82, 54, 50, 96,
85, 34, 30, 02, 64, 47.
Answer. a). Monte Carlo simulation is a computerized mathematical
technique that allows people to account for risk in quantitative analysis and
decision making. The technique is used by professionals in such widely
disparate fields as finance, project management, energy, manufacturing,
engineering, research and development, insurance, oil & gas, transportation,
and the environment.
Q6. a. Explain the dominance
principle in game theory.
b. Describe the Constituents of a
Queuing System.
c. Differentiate between PERT and CPM.
SUMMER-2015
Get solved
assignments at nominal price of Rs.120 each.
Mail us at: subjects4u@gmail.com or contact at
09882243490
No comments:
Post a Comment