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5. Quantifying the Model: All variables in the OR model are quantified. That is, they
are converted into numbers. This is because only quantified data can be put into the
model to get results.
6. Using Mathematical Devices: Data is supplemented with mathematical devices to
narrow down the margin of error.
7. Use of Computer: The main focus is on decision-making and problem solving. For
this purpose computers are widely used.
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 maximize the profit.
Answer. a). Linear programming (LP, or linear optimization) is a
mathematical method for determining a way to achieve the best outcome (such as
maximum profit or lowest cost) in a given mathematical model for some list of
requirements represented as linear relationships. The procedure for mathematical
formulation of a linear programming problem consists of the following major steps:
Q3. a. List the steps of the Vogels 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
Vogels Approximation Method (VAM).
Warehouse
A
Factories
B
Warehouse
requirements
1.
50
40
80
400
2.
80
70
40
400
3.
60
70
60
500
4.
60
60
60
400
5.
30
50
40
800
Factory
availability
800
600
1100
2500
147
148
149
150
151
152
153
0.05
0.10
0.15
0.20
0.30
0.15
0.05
At present the track will hold 150 cars. Using the following random
numbers determine the average number of cars waiting for shipment in
the company and average number of empty space in the truck. Random
Numbers 82, 54, 50, 96, 85, 34, 30, 02, 64, 47.
Answer. a). Monte Carlo simulation is a computerized mathematical technique
that allows people to account for risk in quantitative analysis and decision making.
The technique is used by professionals in such widely disparate fields as finance,
project management, energy, manufacturing, engineering, research and
development, insurance, oil & gas, transportation, and the environment.
Q6. a. Explain the dominance principle in game theory.
b. Describe the Constituents of a Queuing System.
c. Differentiate between PERT and CPM.
SUMMER-2015
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