Wednesday, September 28, 2016

MB0048 - OPERATIONS RESEARCH

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DRIVE
SUMMER 2016
PROGRAM
MBA
SEMESTER
II
SUBJECT CODE & NAME
MB0048
OPERATIONS RESEARCH
BK ID
B2068
CERDIT
4
MARKS
60
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ASSIGNMENT

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. Describe the process and principles of modelling in detail.
Answer1. Process models are processes of the same nature that are classified together into a model. Thus, a process model is a description of a process at the type level. Since the process model is at the type level, a process is an instantiation of it. The same process model is used repeatedly for the development of many applications and



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 programming can be used to help marketing managers allocate a fixed budget to various advertising media.
·         The main objective is to



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
Subject to,
3X1 + 6X2 ≤ 240



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 services are segregated into trade lanes.
Let’s say there is a liner service that connects


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



Answer3(b).



The



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:
 




Question5. Define following criteria’s used for decision making under Uncertainty
a. Optimism (maximax or minimin) criterion

Answer 5(a).
Maximax (Optimist)
The maximax looks at the best that could happen under each action and then chooses the action with the largest value. They assume that they will get the most possible and then they take the action with



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 action with the largest payoff. They assume that the worst that can happen will, and then they take the action with



c. Equal probabilities (Laplace) criterion

Answer5(c).
Laplace criterion is also called as law of equal probabilities criterion or criterion of rationality, since probability of states of nature are not known it is assumed that all states of nature will occur in equal probability. I.e. assign an equal probability. The Laplace criterion uses all the information by assigning equal


d. Coefficient of optimism (Hurwicz) criterion



Answer5(d).

A compromise between the maximax and maximin criteria. The decision maker is neither totally optimistic (as the maximax criterion assumes) nor totally pessimistic (as the maximin criterion assumes).



e. Regret (salvage) criterion

Answer5(e).
The minimization of regret that is highest when one decision has been made instead of another. In a situation in which a decision has been made that causes the expected payoff of an event to be less than expected, this criterion e


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. This is done to minimize variable inventory costs, and the formula takes into account storage, or holding, costs, ordering





 b. PERT and CPM

Answer6(b).
PERT stands for Program Evaluation Review Technique, a methodology developed by the U.S. Navy in the 1950s to manage the Polaris submarine missile program. A similar methodology, the Critical Path Method (CPM) was developed for



c.  Applications of queuing models

Answer6(c).
Queueing Theory has a wide range of applications, and this section is designed to give an illustration of some of these.  It has been divided into 3 main sections, Traffic Flow, Scheduling and Facility Design and Employee Allocation.  The given examples are certainly not the only applications where queuing theory can be put to good

Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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