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Aeren
Foundation
INDIAN SCHOOL
OF BUSINESS MANAGEMENT AND ADMINISTRATION
AN ISO 9001:2015 CERTIFIED INTERNATIONAL
B-SCHOOL
Name : Marks : 80
Course :Masters in Business Administration
(MBA 4 Sem)
Subject : Quantitative Methods
Case Studies
Multi
Criteria Decision Making (20 Marks)
MCDA.
(multi criteria decision analysis) is considered to be one of the fastest
growing research operations in the la several years. The researcher focus
towards MCDA led to development of many different approaches and ways in t
field. There are two types of procedures: theoretical assumptions and decision
addressed type. This difference throw challenges to the prcedure of choosing
the most ideal method for the decision making problem. Most of the time, t
initial approach towards applying MCDA in the real world problems relates to
the set up of simple understanding Of t context and recognizing the problem of
decision. This step includes the ones• who make decisions and other importa
participants who make important contributions for the MCDA procedure by sharing
their knowledge. The common insig of the decision framework is received by
knowing the goals of the decision making body and recognizing not only tho
people who make decisions but also those who face the decision. • Dooley (2009)
says that the first three steps take more time in the process of MCDA,
particularly because of their qualitative features. Assigning of comparative
significa weights to the selected criteria is the next step: These weights can
be ascertained directly, for example ranking, swin trade off; or indirectly,
for example- centrality, regression and interactive. Later, the DM has to give
individual score considering his or her views, to each of the recognized
options according to the criteria which seem vital. These scor show the
decision of DM . related to spreading of each substitute to every performance
standard. The information whi is attained is maintained distinctively into
performance template, which is also as consequence matrix, options matrix, just
decision table. The next process includes abstract of the information
consisting of the performance matrix in t form of multi criteria scores, for
every possible plan. Mostly, this is attained by combining the individual
scores of mat so that total valuation of .each substitute which allows more comparison.
The groups of substitute ranked on the basis all these scores. Finally, the
procedure can include a warm evaluation of the outcome to amendments in the
scores criteria, to conclude the sturdiness of the result of MCDA. At the end,
the analysis and trade offs included in t respective choices are given to and
conferred with the DM. In many cases, the ultimate decision that DM takes, does
n match with the highest level of alternative, as they are more focused towards
the process of knowing the effect of ea and every factor in ranking of choices
than in the exactness of the ranking. Also, it should be observed that t
generalizations are not used to of the outcome given by the process of MCDA,
and they only appropriate for the group choices which were assessed.
Answer the following question.
Q1. What role does MCDA play in decision
making? (Hint: MCDA is considered to be one of the fastest growing research
operations, these scores show the decision of DM related to spreading of each
substitute to every performance standard)
Answer
: This criteria is applicable when solving problems that are characterized as a
choice among alternatives. When making decisions, this criteria helps us focus
on what is important. It is useful in dividing the decision into smaller more
understandable parts, analyzing each part and integrating these parts to
produce a more meaningful solution. Therefore we can say that the
multi-criteria decision analysis helps us make the best situation regarding a
certain situation by helping us analyze and understand better
Q2. What does MCDA stand for? (Hint: multi
criteria decision analysis) (20 marks )
Answer
: MCDA stands for Multiple criteria
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A monte Carlo
Case Study
Marks 20
Laura,'
a 57 year old unmarried woman, earns around 68,000 dollars per year with
expenditure of 37,500 dollars. She away 14,000 dollars each year and collected
330,000 dollars in her RRSP and TFSA, and also a rented apartment wor 250,000
dollars. She has a fixed pension given by her employer, although it is not
indicated to price rise, and Is entitle to get complete benefits of Canada
Pension Plan and Old Age Security, for retirement. She did not have a very
competent portfolio: one fourth of cash is there, and most of it was in
contracted sector ETFs, single stocks a business bonds. Due to wrong entry of
ETFs in the account, unnecessary taxes were charged. Even befo reconstructing
Laura's portfolio,"he had to make certain that it matched with.her
financial aims. Laura's main aim was ascertain if she could retire before the
age of 65, maybe as early as 60, therefore she had to know if her investment
could produce enough flow of cash after she retires. Monte Carlo may show a top
possibility of success with t allotment of equity of 70% ot 80%. Through a
risky questionnaire and art open interview, Justin Ill 'ascertain that Lau was
the best person for a portfolio of 60% fixed income and 40% equities. . Through
Monte Carlo software, Jus entered the current portfolio . size of Laura, her
rate of savings, projected retirement expenditure, and other employ income and
government pensions. If Laura feels that working till the age of 63 was
unpleasant, she could go for t reproduction again and with different
estimation. Increasing her anticipated returns or bringing down the rate of
inflatio is only a thought, therefore, she will have to make some stronger
decisions: she will have to making some more saving or bring down her rate of
planned expenses after retirement. Amazingly, by bringing up the allotment to
fixed sala could increase her opportunity to succeed: in spite of th returns
being lower than the equities, the volatility is also les which lessens the
risk of helpless decline in the early years. At last, Laura decided to work for
6 more years and plan h retirement at the age of 63. After this, Justin decided
to help her make a fresh ETF portfolio to match that goal: it w finalized at
30% short term business bonds, 30% GICs, and the rest of it was divided among
Canadian, L'S and glob equities. Laura was able to make a notified decision
through the Monte Carlo simulation, but this wasn't the end of t procedure. In
two or three years time, she will have to visit the location again to see that
she is still on the right path her retirement goal, as many issues like, loss
of job, a legacy, new connections, increase in the interest rates, all the
could bring a change in the main suppusitions 1 ; and she will have to redo her
plans. The possibilities are differe before the age of 63. For each added year
that Laura works, her portfolio will addition instead of a decrease and this w
lead to a thrilling difference: the success rate will rise up by 25% points if
she continues to work till the age of 61 instea of 60.
Answer the following question.
Q1. How much was Laura earning at the age of
57? (Hint: 68,000 dollars per year)
Answer: Before beginning the simulation, it was important to
understand Laura’s comfort with risk. The Monte Carlo might indicate a high
probability of success with an equity allocation of 70% or 80%, for example,
but that would be irrelevant if Laura could not deal with that level of
volatility. With the help of a risk-tolerance questionnaire and an honest
interview, Justin determined that Laura would be best suited to a
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CASE STUDY
(20
Marks)
The
cost of fuel in running of an engine is proportional to the square of the speed
and is Rs 48 per hour for speed of kilometers per hour. Other expenses amount
to Rs 300 per hour. What is the most economical speed?
Answer the following question.
Q1. What is most economical speed?
Answer : The is
most economical speed is 40 m.p.h.
Let the speed of the train be v and distance to be covered be s so that
total time taken is s/v hours.
Q2. What is a chi-square test?
Answer
: A chi-square (χ2) statistic is a test
that measures how a model compares to actual observed data. The data used in
calculating a chi-square statistic must be random, raw, mutually exclusive,
drawn from independent
Q3. What is sampling and what are its uses.
Answer
: Sampling is a tool that is used to indicate how much data to collect and how
often it should be collected. This tool defines the samples to take in order to
quantify a system, process, issue, or problem.
Q4. Is there any alternative formula to find
the value of Chi-square?
Answer
: The sq
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Problem of
Transportation Routes (20 Marks)
The
N&C Bank in Thailand is one of the biggest banks. There are 377 branches in
Bangkok and 3 distribution cente Presently, it has experienced drivers who take
to the transportation routes. 27 vehicles are used on the 29 routes who
capacity is the same. Two of the vehicles do overtime with taking two trips
each day. Some of the problems faced N&S and formulated are: Each trip will
begin from its respective depot and end there. The route will remain the sam both
morning and evening. The travelling time taken between each branch is a known
location and correct. T company is aware of 'the demand for capital of each
branch. Time of processing for every stop is same. for each branc Some of the
limitations of this problem are: The volume of each vehicle is firmly
implemented by the insurance value p trip. Each branch's hours of functioning
depends upon its location. If the location is in the department store, then t
working hours will be from 11 am to 8 pin. If the location is anywhere else,
the working hours would be from 8.30 am 3.30 pm. The processing capacity of
every depot or the distribution center (DC) is diverse at the ratio of
50:30:20. Ea distribution center works from 8.00 am to 5.00 pm. N&C aims at
increasing the transportation services along with t current resources. N&C
has three distribution centers which look after the picking up and delivery of
cash to and fro every branch each day at different timings. The most
appropriate method for this problem would be the multiple deprouting problems
with time limit. Nevertheless, the new routes can bring changes in everyday
process, i.e., change requirements, processing time, etc, hence, N&C
requires a method to give results in a short time operations. Two ma methods are
used. First, development problem •is utilized. and capacitate VRPTW (vehicle
routing problem with time) utilized later. The assignment problem gathers 377
branches into 3 groups, with each belonging to each distributi center and
VRP'IW makes daily routes for each distribution center. Consignment Problem
method is used for giving t tasks to the agents mating their positions, which
can give a very competent result. Vehicle rouong problem is the CVR (capacitate
vehicle routing problem), a pr' Herb where all its customers need to be
satisfied, awareness of dumbfound and identifying all vet-ides, constrained
capacity and based at a central depot. The aim is to reduce the fleet of
\•vehicl and total commuting time at the same time as, total requirement of goods
for each route should not go beyond t capacity of the vehicle which plies on
that route. ":be most vital expansion of CVRP is the vehicle routing
problem w VRPTW (time window) which should serve each customer with a
particular time window.
Answer the following question.
Q1. Write a short on the transportation
system of N&C bank. (Hint: it has experienced drivers who take to the
transportation routes. 27 vehicles are used on the 29 routes whose capacity is
the same,N&C has three distribution centers which look after the picking up
and delivery of cash to and from every branch each day at different timings)
Answer:
BANKing business is the financial institute that plays an important role in the
economic system. In the past, major duty of bank is to circulate money in the
economic system by raising money from saving and make it available for personal
or business loan. Over the past few years, the overseas banks have been allowed
to do business in Thailand. Since then, banking business has become a highly
competitive business and Thai banks have developed "universal
banking" concept in order to encounter or compete with the new comer. The
meaning of "universal banking" is everything about money which
Q2. What does CVRP stand for? (Hint:
capacitated vehicle routing problem)
Answer:
The Vehicle Routing Problem (VRP) is a
combinatorial optimization and integer programming problem which asks
"What is the optimal set of routes for a fleet of vehicles to traverse in
order to deliver to a given set of customers?" In our paper to describe
the Methods of Capacitated Vehicle Routing Problem we implement using c code
the Clarke and Wright's savings algorithm to solve our problem where
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and Case studies. Do send your query at :
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