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Management Programme
ASSIGNMENT
FIRST SEMESTER
(January to June) 2020
MS – 51: Operations Research
ASSIGNMENT
| Course Code : | MS-51 |
| Course Title : | Operations Research |
| Assignment Code : | MS-51/TMA/SEM – I /2020 |
| Coverage : | All Blocks |
Note : Attempt all the questions and submit this assignment to the coordinator of your study center on or before 30th April, 2020.
Question :1. “Executives at all levels in business and industry come across the problems of making decision at every stage in their day- to day activities. Operations Research provides them with various quantitative techniques for decision – making and enhances their ability to make long range plans and solve everyday problems of running a business and industry with greater efficiency, competence and confidence”. Comment with examples.
Answer: Business managers face an endless list of complex issues every day. They must make decisions about financing, where to build a plant, how much of a product to manufacture, how many people to hire, and so on. Often, the factors that make up business issues are complicated, and they may be difficult to comprehend.
Question :2. Using the following cost matrix, determine
(a) optional job assignment, and
(b) the cost of assignments.
| Machinist Job | |||||
| 1 | 2 | 3 | 4 | 5 | |
| A | 10 | 3 | 3 | 2 | 8 |
| B | 9 | 7 | 8 | 2 | 7 |
| C | 7 | 5 | 6 | 2 | 4 |
| D | 3 | 5 | 8 | 2 | 4 |
| E | 9 | 10 | 9 | 6 | 10 |
Answer:
A) Mechanist D is having optimal job assignment and
B) associated cost is minimum(for all 5 jobs)=22
Question :3. A TV repairman finds that the time spent on his job has an exponential distribution with mean 30 minutes. If he repairs sets in the order in which they come and if the arrival of sets is approximately Poisson with an average rate of 10 per 8 hour day, what is his expected idle time each day? How many jobs are ahead of the set just brought in?
Answer:
Question : 4. Shruti Ltd. has developed a sales forecasting function for its products and the products of the competitors, Purnima Ltd. There are four strategies S1, S2, S3, and S4 available to Shruti Ltd. and three strategies P1, P2 and P3 to Purnima Ltd. The pay –offs corresponding to all the twelve combinations of the strategies are given below. From the table we can see that, for example, if strategy S1 is employed by Shruti Ltd. and strategy P1 by Purnima Ltd., then there shall be a gain of Rs, 30,000 in quarterly sales to the former. Other entries can be similarly interpreted.
Considering this information, state what would be the optimal strategy for Shruti Ltd.? Purnima Ltd.? What is the value of the game? Is the game fair?
Answer: Theory of games is concerned with decision-making in situations where two or more rational players, each with a set of strategies, are involved in conditions of competition and conflicting interests.
- With the pay-offs resulting from the play of various combinations of the strategies by different players being given and known to all of them, the solution to a game calls for determining the optimum strategies for the players.
Question :5. Write short notes on any three of the following:-
(a) Random Variable
Answer: A random variable, usually written X, is a variable whose possible values are numerical outcomes of a random phenomenon. There are two types of random variables, discrete and continuous.
Discrete Random Variables
A discrete random variable is one which may take on only a countable number of distinct values such as 0,1,2,3,4
(b) Functions of Inventory
Answer: Inventories are goods that are found in the warehouses of the company. These are the materials used in the production process or they meet customer demand, and consist of raw materials, materials pulled into the production in process, and finished products. These products usually belong to the
(c) Dynamic Recursive Relation
(d) Practical Application of Simulation
(e) Modified Distribution (MODI) Method.
Answer: The modified distribution method, is also known as MODI method or (u – v) method provides a minimum cost solution to the transportation problems. MODI method is an improvement over stepping stone method. This model studies the minimization of the cost of transporting a commodity from a number of sources to
Dear students, get fully solved assignments by professionals
Do send your query at :
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