Access over 20 million homework & study documents

process of operation_research

Content type
User Generated
Type
Study Guide
Rating
Showing Page:
1/7
Operation Research
Assignment Set- 1
1. a. Explain how and why Operation Research methods have been valuable in aiding executive decisions
a. Churchman, Ackoff and Aruoff have defined “Operations research as the application of scientific methods,
techniques and tools to operation of a system with optimum solutions to the problems”. Here Optimum implies the
one, which is best of all possible alternatives. Another definition is that, “Operations research is the use of scientific
methods to provide criteria for decisions regarding man, machine, systems involving repetitive operations”.
Optimization is the act of obtaining the best result under any given circumstance. In various practical problems we
may have to take many technical or managerial decisions at several stages. The ultimate goal of all such decisions is
to either maximize the desired benefit or minimize the effort required. We make decisions in our every day life
without even noticing them.
Decisionmaking is one of the main activity of a manager or executive. In simple situations decisions are taken simply
by common sense, sound judgment and expertise without using any mathematics. But here the decisions we are
concerned with are rather complex and heavily loaded with responsibility. Examples of such decision are finding the
appropriate product mix when there are large numbers of products with different profit contributions and productional
requirement or planning public transportation network in a town having its own layout of factories, apartments, blocks
etc. Certainly in such situations also decision may be arrived at intuitively from experience and common sense, yet
they are more judicious if backed up by mathematical reasoning. The search of a decision may also be done by trial
and error but such a search may be cumbersome and costly. Preparative calculations may avoid long and costly
research. Doing preparative calculations is the purpose of Operations research. Operations research does mathematical
scoring of consequences of a decision with the aim of optimizing the use of time, efforts and resources and avoiding
blunders.
The application of Operations research methods helps in making decisions in such complicated situations. Evidently
the main objective of Operations research is to provide a scientific
basis to the decisionmakers for solving the problems involving the interaction of various
components of organization, by employing a team of scientists from different disciplines,
all working together for finding a solution which is the best in the interest of the organization as a whole. The solution
thus obtained is known as optimal decision.
b. Discuss the usefulness of Operation Research in decision making process and the role of computers in this field.
OR increases the effectiveness of a management Decision making ability. It makes use of computer to solve large and
complex problems.
The Operation Research problems are time consuming and involve tedious computations. Even a simple problem with
few variables take a long time to solve manually and even by a hand calculator. The advent of computers accelerated
the wide use of Operation Research techniques for solving complex business
problems faced by managers and administrators in business and government. The automation of computational
algorithm allows decision-makers to concentrate on problems formulation and the interpretation of the solutions.
Major computer manufacturers and vendor have developed software packages for the various computer systems

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/7
providing computational support for problems to be solved by the application of Operation Research techniques. Some
academic departments in different universities have also produced software packages for solving various Operation
Research problems. Computer manufacturers like IBM, CDC, Honeywell, UNIVAC, ICL, etc. have invested
substantial amount in developing software programs for solving the optimizing, scheduling, inventory, simulation and
other Operation Research problems. Also large scale simulations are possible only through computers by using GPSS
software packages.
2. Explain how the linear programming technique can be helpful in decision-making in the areas of Marketing and
Finance.
3. a. How do you recognise optimality in the simplex method?
b. Write the role of pivot element in simplex table?
4. What is the significance of duality theory of linear programming? Describe the general rules for writing the dual
of a linear programming problem.
5. Use Two-Phase simplex method to solve: [10 Marks]
Minimize z= + +
Subject to constraints: - + =5
- ≤ 3
+ ≥ 4
5≥ 0, ≥ 0 and is unrestricted.
6. Use Branch and Bound method to solve the following L.P.P: [10 Marks]
Maximize z= 7 + 9
Subject to constraints: - + 3 ≤6
7 + ≤ 35
≤ 7
, ≥ 0 and are integers.

Sign up to view the full document!

lock_open Sign Up
Showing Page:
3/7

Sign up to view the full document!

lock_open Sign Up
End of Preview - Want to read all 7 pages?
Access Now
Unformatted Attachment Preview
 Operation Research Assignment Set- 1 1. a. Explain how and why Operation Research methods have been valuable in aiding executive decisions a. Churchman, Ackoff and Aruoff have defined “Operations research as the application of scientific methods, techniques and tools to operation of a system with optimum solutions to the problems”. Here Optimum implies the one, which is best of all possible alternatives. Another definition is that, “Operations research is the use of scientific methods to provide criteria for decisions regarding man, machine, systems involving repetitive operations”. Optimization is the act of obtaining the best result under any given circumstance. In various practical problems we may have to take many technical or managerial decisions at several stages. The ultimate goal of all such decisions is to either maximize the desired benefit or minimize the effort required. We make decisions in our every day life without even noticing them. Decisionmaking is one of the main activity of a manager or executive. In simple situations decisions are taken simply by common sense, sound judgment and expertise without using any mathematics. But here the decisions we are concerned with are rather complex and heavily loaded with responsibility. Examples of such decision are finding the appropriate product mix when there are large numbers of products with different profit contributions and productional requirement or planning public transportation network in ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
I use Studypool every time I need help studying, and it never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4