MBA205 - OPERATIONS RESEARCH

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ASSIGNMENT

DRIVE    Summer 2017

PROGRAM          MBA

SEMESTER           II

SUBJECT CODE & NAME  :- MBA205 - 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.

Set 1

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 most often used to analyze complex real-world systems, typically with the goal of improving or optimizing performance. It is one form of applied mathematics.” (Wikipedia)

The quest

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

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

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

Answer3(b).

Set 2

Question1. 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.

Answer1.

Question2. Define following criteria’s used for decision making under Uncertainty

a. Optimism (maximax or minimin) criterion

Answer 2(a).

Maximax (Optimist)

The maximax looks at the best that could happen under each action and then chooses the action with the largest

b. Pessimism (maximin or minimax) criterion

Answer2(b).

Maximin (

c. Equal probabilities (Laplace) criterion

Answer2(c).

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

d. Coefficient of optimism (Hurwicz) criterion

Answer2(d).

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

e. Regret (salvage) criterion

Answer2(e).

The

Question3. Explain the following:

a. Economic Order Quantity (EOQ)

Answer 3(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

 b. PERT and CPM

Answer 3(b).

PERT stands for Program Evaluation Review Technique, a methodology developed by the U.S. Navy in the 1950s

c.  Applications of queuing models

Answer 3(c).

Queueing Theory has a wide range of applications, and this section is designed to give an illustration of some of

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