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MBA Semester 2-SUMMER 2015

MB0048 OPERATIONS RESEARCH

Q1. What are the features of operations research? What are the limitations of operations research?

Answer: Five features of operations research:

OR is system-oriented. OR scrutinizes the problem from an organisation’s perspective. The results can be optimal for one part of the system, while the same can be unfavourable for another part of the system … Get complete Answers on www.smuHelp.com

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 maximise the profit.

Answer: Graphical Methods to Solve LPPWhile 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 are a finite number of basic feasible regions within the feasible solution space. … Get complete Answers on www.smuHelp.com

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).

Answer:

Vogel’s approximation method: The Vogel’s approximation method (VAM) takes into account not only the least cost cij, but also the cost that just exceeds cij. The steps of the method are given as follows:

Step 1 - For each row of the transportation table, identify the smallest and the next to smallest costs. Determine the difference between … Get complete Answers on www.smuHelp.com

Q4. a. What is Integer Programming Problem (IPP) ?

b. Explain Gomory’s all integer algorithm of an IPP.

Answer:

Define Integer Programming Problem:

The IPP is a special case of Linear Programming Problem (LPP), where all or some variables are constrained to assume non-negative integer values. In LPP, the decision variables as well as slack or surplus variables were allowed to … Get complete Answers on www.smuHelp.com

Q5. A) Explain Monte Carlo Simulations.

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 study nuclear fission; mathematician Stanislaw Ulam coined the term in reference to an uncle who loved playing the … Get complete Answers on www.smuHelp.com

Q6. a. Explain the dominance principle in game theory. b. Describe the Constituents of a Queuing System. c. Differentiate between PERT and CPM

a. Dominance In a rectangular game, the pay-off matrix of player A is pay-off in one specific row ( r row ) th exceeding the corresponding pay-off in another specific row( s row ) th . This means that whatever course of action is adopted by player B, for A, the course of action Ar yields greater gains than the course of action As . … Get complete Answers on www.smuHelp.com