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DRIVE- Fall 2015
PROGRAM-MBADS / MBAN2 / MBAHCSN3
/ PGDBAN2 / MBAFLEX
SEMESTER- II
SUBJECT CODE & NAME- MB0048
OPERATIONS RESEARCH
Q1. Describe the framework of Operations Research.
(List the seven stages of
Operations Research, Briefly explain seven stages of Operations Research)
Answer.
Seven stages of
Operations Research:
1.
Observe the Problem Environment
2.
Analyse and Define the Problem
3.
Develop a
Q2. a. Explain the
graphical method of solving Linear Programming Problem.
b.
A paper mill produces two grades of paper viz., X and Y. Because of raw
material restrictions, it cannot produce more than 400 tons of grade X paper
and 300 tons of grade Y paper in a week. There are 160 production hours in a
week. It requires 0.20 and 0.40 hours to produce a ton of grade X and Y papers.
The mill earns a profit of Rs. 200 and Rs. 500 per ton of grade X and Y paper
respectively. Formulate this as a Linear Programming Problem.
Answer:
a.
Graphical Methods to Solve LPP
While obtaining the optimal
solution to an LPP by the graphical method, the
statement of the following
theorems of linear programming is used:
·
The collection of all feasible solutions to an LPP
constitutes a convex set whose extreme points correspond to the basic feasible
solutions.
·
There
3
a. Explain some of the important terms of the transportation problem.
b. Explain the steps of MODI
(Modified Distribution) method.
Answer.
a. List and briefly explain some
of the important terms of the transportation problem
There
is a type of linear programming problem that may be solved using a simplified
version of the simplex technique called transportation method. Because of its
major application in solving problems involving several product sources and
several destinations of products, this type of problem is frequently called the
transportation problem. It gets its name from its application to problems
involving transporting
Q4.
a. Explain the steps involved in Hungarian method of solving
Assignment problems.
b.
Find an optimal solution to an assignment problem with the following cost
matrix:
Answer.
a.)
Hungarian
Method Algorithm
Hungarian method algorithm is
based on the concept of opportunity cost and is more efficient in solving
assignment problems. The following steps are adopted to solve an AP using the
Hungarian method algorithm.
Step 1: Prepare row ruled matrix
by selecting the minimum values for each row and subtract it from the
Q5. A) Explain Monte Carlo Simulations.
b.
Hindustan Bakery is popular for its delicious fruit cakes. The table below
shows the daily demand for the bakery’s cakes.
Simulate
the demand for cakes for 10 days using the following sequence of random numbers:
22,
26, 48, 53, 93, 89, 42, 91, 25, 20
If
35 cakes are baked every day in Hindustan Bakery, determine the inventory
stock. In addition, estimate the daily average demand for cakes on the basis of
simulated data.
Answer:
Monte Carlo simulations, a
statistical technique used to model probabilistic (or “stochastic”) systems and
establish the odds for a variety of outcomes. The concept was first popularized
right after World War II, to
6 a. State the assumptions of
game theory.
b. What are the characteristics
of Markov chain?
c. What are the rules for
prioritising jobs?
Answer.
A. Assumptions of game theory
Game
theory is a branch of mathematical analysis developed to study decision making
in conflict situations. Such a situation exists when two or more decision
makers who have different objectives act on the same system or share the same
resources. There are two person and multiperson games. Game theory provides a
mathematical process for selecting an OPTIMUM STRATEGY (that is, an optimum
decision or
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