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MB0048, MB0048 - Operations Research, Spring 2013

MB0048, MB0048 - Operations Research, Spring 2013

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MB0048, MB0048 - Operations Research, Spring 2013
MB0048, MB0048 - Operations Research, Spring 2013

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Spring 2013Master of Business Administration- MBA Semester 1MB0048
 –
Operations Research- 4 Credits(Book ID: B1631)Assignment Set - 1 (60 Marks)Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.Q1.Explain the scope of Operations Research. What are the features of Operations Research?10marks
Answer:
 
Role And Scope of Operations Research
 
The term operations research originated during second world war when U.S.A and Great Britain’s
Armed Forces sought hesitance of scientists to solve complex and very difficult strategically andtactical problems of warfare, like making mines harmless or increasing the efficiency of antisubmarine aerial wafer etc.Operations research employs mathematical logic to complex problems requiring managerialdecisions. It signifies research on operations. However, it take-in consideration a particular view of operations and a particular kind of research. Operations research is the organized application of modern science, mathematics and computer techniques to complex military, government, businessor industrial problems arising in the direction and management of large system of men, materials,money and machines.The purpose is to provide the management with explicit quantitative understating and assessmentof complex situations; to have sounder basis for arriving at best decisions. Operations research seeksthe optimum state in all spheres and thus provides optimum solution to organizational problems. Itis of considerable value in production management.
Characteristics of Operations Research
Operations research, an interdisciplinary division of mathematics and science, uses statistics,algorithms and mathematical modelling techniques to solve complex problems for the best possiblesolutions. This science is basically concerned with optimizing maxima and minima of the objectivefunctions involved. Examples of maxima could be profit, performance and yield. Minima could beloss and risk. The management of various companies has benefited immensely from operationsresearch.Operations research is also known as OR. It has basic characteristics such as systems orientation,using interdisciplinary groups, applying scientific methodology, providing quantitative answers,revelation of newer problems and the consideration of human factors in relation to the state underwhich research is being conducted.
Systems Orientation
This approach recognizes the fact that the behaviour of any part of the system has an effect on thesystem as a whole. This stresses the idea that the interaction between parts of the system is whatdetermines the functioning of the system. No single part of the system can have a bearing effect onthe whole.OR attempts appraise the effect the changes of any single part would have on the performance of the system as a whole. It then searches for the causes of the problem that has arisen either in onepart of the system or in the interrelation parts.
Interdisciplinary groups
The team performing the operational research is drawn from different disciplines. The disciplinescould include mathematics, psychology, statistics, physics, economics and engineering. Theknowledge of all the people involved aids the research and preparation of the scientific model.
 
Application of Scientific Methodology
OR extensively uses scientific means and methods to solve problems. Most OR studies cannot beconducted in laboratories, and the findings cannot be applied to natural environments. Therefore,scientific and mathematical models are used for studies. Simulation of these models is carried out,and the findings are then studied with respect to the real environment.
New Problems Revealed
Finding a solution to a problem in OR uncovers additional problems. To obtain maximum benefitsfrom the study, ongoing and continuous research is necessary. New problems must be pursuedimmediately to be resolved. A company looking to reduce costs in manufacturing might discover inthe process that it needs to buy one more component to manufacture the end product. Such ascenario would result in unexpected costs and budget overruns. Ensuring flexibility for suchcontingencies is a key characteristic of OR.
Provides Quantitative Answers
 The solutions found by using operations research are always quantitative. OR considers two or moreoptions and emphasizes the best one. The company must decide which option is the best alternativefor it.
Human Factors
In other forms of quantitative research, human factors are not considered, but in OR, human factorsare a prime consideration. People involved in the process may become sick, which would affect thecompany's output.Q2.Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrixbelow. Determine the optimal assignment. Which operator will have no assignment?10 marks
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 Operators Jobs1 2 3 4 5Q3.a. Explain the Monte Carlo Simulation.b. b. A Company produces 150 cars. But the production rate varies with the distribution.ProductionRate147 148 149 150 151 152 153Probability0.050.10 0.15 0.20 0.30 0.15 0.05At present the track will hold 150 cars. Using the following random numbers determine the averagenumber of cars waiting for shipment in the company and average number of empty space in thetruck. Random Numbers 82, 54, 50, 96, 85, 34, 30, 02, 64, 47.5 +5 = 10 marks(200 - 250 words each)Q4.Explain the Characteristics and Constituents of a Queuing System.10 marks(300 - 350 wordseach)Q5.a. What do you mean by dominance? State the dominance rules for rows and columns.Q6.a What are the differences between PERT and CPM?b. Find the saddle point of the following game and state the optimum strategies for players A andA1 2 3 4 51B 2341234566 2 5 2 62 5 8 7 77 8 6 9 86 2 3 4 59 3 8 9 74 7 4 6 89 3 1 8 06 5 4 6 72 4 4 3 85 6 2 2 1

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