Introduction to Operations Research
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Questions and Answers

What is the primary purpose of inventory control models?

  • To ensure constant inventory levels
  • To eliminate the need for ordering inventory
  • To increase the total inventory cost
  • To assist managers in deciding ordering time and quantity (correct)

    • Simulation is a procedure that directly solves the problem involved in inventory control.

    False

    What complicates the development of an analytical model in inventory control?

    A large number of variables and interrelationships among those variables.

    Non-linear programming methods can be applied when the objective function or some constraints are not __________.

    <p>linear</p> Signup and view all the answers

    Match the following programming methods with their applications:

    <p>Linear Programming = Approximate non-linear constraints Simulation = Data generating technique for complex problems Integer Programming = Variables must take integer values Non-Linear Programming = Handling non-linear constraints</p> Signup and view all the answers

    Which of the following is a limitation of linear programming?

    <p>It can approximate only within a limited range of non-linear constraints.</p> Signup and view all the answers

    Integer programming can only be applied to problems where all variables can take any real value.

    <p>False</p> Signup and view all the answers

    What is one reason why simulation is preferred over real-world experiments in decision-making?

    <p>It is risky, cumbersome, or time-consuming to conduct real studies.</p> Signup and view all the answers

    Which of the following areas can Operational Research (OR) be applied in the industrial establishment and private sector?

    <p>Facility planning</p> Signup and view all the answers

    Operational Research can assist in market survey and analysis only in the agricultural sector.

    <p>False</p> Signup and view all the answers

    What is one primary application of Operational Research in the field of technology forecasting?

    <p>Technology evaluation and project management</p> Signup and view all the answers

    In agriculture, OR can optimize the allocation of supply and collection points for ______.

    <p>fertilizer/seeds</p> Signup and view all the answers

    Match the following applications of Operational Research with their respective fields:

    <p>Tender management = Research &amp; Development Inventory control = Defense Services Optimum advertisement outlay = Business Management Public transport requirements = Transportation</p> Signup and view all the answers

    Which of the following is NOT an application of Operational Research?

    <p>Cooking recipes optimization</p> Signup and view all the answers

    What is the main goal of linear programming?

    <p>To optimize an objective function under given constraints</p> Signup and view all the answers

    Operational Research is only applicable in large-scale industries and does not benefit smaller businesses.

    <p>False</p> Signup and view all the answers

    What can OR optimize in the educational sector?

    <p>Number of schools and their locations</p> Signup and view all the answers

    In game theory, the success of one player does not affect the others.

    <p>False</p> Signup and view all the answers

    What does decision theory focus on?

    <p>Making decisions under certainty and uncertainty.</p> Signup and view all the answers

    The aim of waiting line or queuing theory is to minimize the total cost of __________ and providing service facilities.

    <p>waiting</p> Signup and view all the answers

    Match the following concepts with their descriptions:

    <p>Linear Programming = Optimization of resources under constraints Game Theory = Strategic interactions among rational decision-makers Decision Theory = Analysis of choices under certainty and uncertainty Queuing Theory = Studying systems with waiting lines</p> Signup and view all the answers

    Which of the following is NOT a focus of inventory control models?

    <p>Maximizing sales revenue</p> Signup and view all the answers

    Queuing theory can be applied to situations where no one is waiting.

    <p>False</p> Signup and view all the answers

    What is the primary goal of inventory models in business management?

    <p>To minimize total inventory cost.</p> Signup and view all the answers

    Study Notes

    Operations Research Introduction

    • Operations Research (OR) is a relatively new field, its content and boundaries are not fixed.
    • OR applies mathematical and quantitative techniques to support decision-making.
    • Decisions in daily life, often made intuitively, differ from complex, critical decisions needing models.
    • Examples of OR applications include transportation network planning, product mix optimization, and resource allocation.

    History of Operations Research

    • OR's roots lie in the UK during the 1930s to assist in military operations.
    • Early OR work focused on radar system effectiveness and integration.
    • 1936 marked the establishment of Bawdsey Research Station.
    • 1937 saw the first major air defense exercise incorporating radar data.
    • 1938, additional radar stations were installed and air defense exercises proved complex integration issues.
    • 1939 The final pre-war air defense exercise displayed successful improvements in warning and control.
    • The OR team was incorporated into Fighter Command at Stanmore during the beginning of World War II.

    Meaning of Operations Research

    • OR is the application of a scientific method for decision making, encompassing several mathematical and quantitative tools.
    • It considers risk and change, creating a model of a system with factors identified.
    • OR uses tools from multiple disciplines (math, stats, engineering, economics, etc)

    Features of Operations Research

    • OR uses a decision-making approach to support executives in finding optimal solutions to problems.
    • OR takes a scientific approach to complex issues.
    • OR utilizes interdisciplinary teams.
    • OR uses mathematical/ analytical models.
    • OR commonly uses computers to handle complicated calculations.

    Steps in Operations Research Modeling

    • The steps involved in a study include observing, analyzing, model development, data selection, solution and testing, and implementation.

    Limitations of Operations Research

    • OR relies upon models, so there's a disconnect or resistance on the part of the management to accept the model or results.
    • OR models may be inaccurate due to unquantifiable factors.
    • OR requires substantial time and resources.

    Linear Programming Introduction

    • Linear programming is an optimization technique used to find the best solution in a mathematical model that has a linear objective function and linear constraints.
    • It effectively handles resource allocation and optimization problems.

    Linear Programming Formulation

    • Define decision variables.
    • Define the objective function (what you want to maximize or minimize).
    • Define constraints (resources, limitations).
    • Establish non-negativity constraints (all variables must be greater than or equal to zero).

    Graphical Method for Linear Programming

    • This method is common for two-variable problems.
    • The feasible region is the shaded area satisfying all constraints.
    • Determining the extreme points (or corners) of the feasible region.
    • Evaluating the objective function at each corner point to find the optimal solution.

    Multiple Optimal Solutions

    • When the objective function is parallel to one side of the boundary of the feasible region, multiple optimal solutions exist for the objective function.

    Infeasible Solutions

    • A problem could be infeasible if the constraints provided for the model are in conflict with one another.
    • This means that no values of the variables would satisfy the constraints simultaneously.

    Unbounded Solutions

    • Unbounded solutions occur in a maximization problem when an optimal solution doesn't exist because the maximum value of the objective function is unbounded, which leads to infinite solutions.

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    Operations Research PDF

    Description

    Explore the fundamentals of Operations Research, a field that applies mathematical and quantitative techniques for decision-making. Delve into its historical context, originating in the 1930s to support military operations and its evolution into various applications like transportation and resource allocation.

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