M C M 2 1 2 : Q U A N T IT A T IV E T E C H N IQ U E S A N D D E C IS IO N A N A L Y S IS
Year –2012-14 1. Course Objective: The objective is to impart knowledge on the concepts and tools on different optimisation techniques with formulation and analysis, which in turn will help to take decisions while applying them to solve real life problems. 2. Class work Twenty sessions each of 80 minutes are allocated for this course which will be a combination of lecture, exercise, case discussion, class interaction and presentation of the assignments. Students are advised to bring calculator to each session. 3. Homework Self Study The homework will be in the proportion of twice of the input time. Since most of the concepts are linked with each other, students are advised to attend the lecture with revision of the discussed points and advance study of the concepts as designed session wise. 4. Assessment The end term exam will of 70 marks. You will be assessed for 30 marks internal as per the following criteria. There will be a group assignment which will be of 20 marks. The remaining 10 marks is on the individual participation in class interaction, case discussions, presentation and maintaining discipline. The criteria’s of evaluation for group assignment are (1) Group contribution, (2) Continuous effort, (3) Applicability of the case to Real life and (4) Relevance to OR theory. 5. Assignment The assignment for this course is a group activity. Students are requested to make groups of 8/9 students as per their choice. The group list should be submitted to the course leader through class representative and programme co-ordinator. The groups has to be exclusive and exhaustive which means every student will certainly be member of one and only one group . The assignment is to prepare a case study (starting from formulation till conclusion) related to any social, economic or management situation applying OR tools. For which a brief outline is given in the 1st session. Every group has to submit the status of their proceedings weekly by the next Monday of the corresponding week. 6. Reference Books: 1. “An Introduction to Management Science – Quantitative Approaches to Decision Making”, Anderson, Sweeney & Williams, Thomson Southwestern-11th Edn., 2007. 2. “Quantitative Techniques for Decision Making”, Gupta M.P. & Khanna RB., Prentice Hall, New Delhi, 2004. 3. “Quantitative Techniques for Decision Making”, Sharma Anand, Himalaya, Mumbai, 2003. 4. “Quantitative Techniques”, Varma A.P., Asian New Delhi, 2004. 5. “Games of Strategy”, Dixit Avinash K , Skeith Susan; W. W. Norton & Company, 2004 Term – II Credits: 7
Instructor: Prof. Hirapunyatirtha Swain (email@example.com)
Principle Decision tree. LC.Session Details
Session. Nash’s Solution on Bargaining
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. Queuing characteristics. Exercise & Summary Special cases of Assignment problem. Solving by NWC. Linear Programming Minimization Problems. Linear Programming Simplex Method. Pure and mixed strategies Signalling and Screening. solution by Hungarian Method. Special cases of transportation problem and Introduction to transhipment problem. Utility function Game Theory : Introduction. Minimax regret. Summary. Cases Part 3: Probabilistic Methods (Queuing Theory & Simulation) Queuing Theory : Introduction. EMV. Summary. Simplex Method Contd. Optimal Solution by Modi Method. Advantage of Simulation Monte Carlo Simulation Part 4: Decision and Game Theory Decision theory : Decision under uncertainty and risk. TOPICS Part 1: Introduction to Linear Programming 1 2 3 4 5 Introduction to Operations research (OR) as a Problem Solving & Decision Making Tool. Maximin. Prisoners Dilemma. No. Graphical Solution Procedure. Slack & Surplus Variables. Modelling. EOL. Queue Discipline. Travelling salesman Problem. VAM. Special Cases. Pessimistic and optimistic approach. Unbounded. Simultaneous & sequential move. Assignment Problems. OR Models. M/M/S. Feasible Solution. Features of Model and Management Science Techniques. Setting up Initial Simplex Tableau. Introduction to Linear Programming. Determining Basic Solutions. Tableau Form. Decision Theory: Finding decision by Maximax. Special cases. . Infeasibility. Finite Queue with priority service Models : Finite Queue with priority service Introduction to Simulation. Summary. Summary. Solution by solver (Excel Application). zero sum and Non zero sum game. Assignment Problems Transportation Problems: Modelling. Part 2: Transportation. Summary Assignment Problems: Modelling. Kendal’s Notation Models : M/M/1. Mathematical Formulation. Overview of Simplex Method.