OPERATION RESEARCH

Paper Code: 
FSG 423
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (Cos):

 

Course Outcome

Learning and teaching strategies

Assessment Strategies

Upon successful completion of this course, the student will be able to:

  1. Analyze decision-making situations in business and tools of decision science.
  2. Solve problems of Linear Programming (LP) for optimum allocation of resources using different approaches.
  3.  Evaluate the real business problems by applying the knowledge of game theory.
  4. Predict the problems of service industry and analyse the concepts related to queuing theory .
  5.  Students will solve the transportation and assignment problems and interpret the cost-effective decision.
  6. Students will analyze the uncertainty and risk situation of business and propose their solution with the decision theory analysis.

Interactive Lectures, Group Discussion, Tutorials, Reading assignments, Workshops and question preparation

 

Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation

 

18.00

Quantitative Techniques: An Introduction, Statistical and Operations Research techniques, Scope and application of Quantitative Techniques, Scientific approach in decision-making, Limitation of these techniques.

 

18.00

Linear Programming: Mathematical formulation of problem. Graphical and Simplex Solutions of LPP. Primal and its Dual.

 

18.00

Game Theory–  Meaning, Two Person zero sum game , Mix strategies.

Queuing Theory – meaning , concepts and problems related with Queuing Theory.

 

18.00

Transportation: Solving the problem. Testing the optimality MODI method.Cases of unbalanced problems, Degeneracy, Maximization objective, Multiple solutions and Prohibited Routes

Assignment: Solving the problem. Cases of unbalanced problems, multiple optimum solutions, maximization objective and unacceptable assignments

 

18.00

Decision Theory: Maximin, Minimax, and Maximax expected pay off andregret, Expected value of Perfect Information, Decision Tree Analysis.

Essential Readings: 
  • Mathur, Khandelwal, Gupta, Gupta, Operational Research, Ajmera Book Company, Jaipur
  • Nag, N. K., Quantitative Methods, Kalyani Publishers, Jaipur
  • Agarwal, N.P., and Agarwal, Sonia, Quantitative Techniques For Management, Ramesh Book Depot, Jaipur

 

References: 

SUGGESTED READINGS:

  • Kapoor, V. K., Operational Research, Sultan Chand & Sons, New Delhi
  • Vohra, N. D., Quantitative Techniques in Management, Tata McGraw Hill, New Delhi
  • Taha, Hamady A. , Operational Research: An Introduction, Prentice Hall of India, New Delhi

e-RESOURCES:

JOURNALS:

  • European Journal of Operational Research
  • Operations Research Letters
  • Journal of the Operational Research Society
  • Asia-Pacific Journal of Operational Research
  • Mathematics of Operations Research

 

 

 

Academic Year: 
2023-2024
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