- Concept Testing 15 Marks (Theory)
- Case Studies (Mix of Theory and Numerical Calculations) 15 Marks.
- Out of 5 Questions Any 3 are to be answered.
- (10 Marks x 3) 3 Questions are theoretical and 2 are numerical problems.
Unit I : Introduction to OR and Linear Programming
- Operation Research – Introduction, Models, Areas of Application. Linear Programming (L.P.): Mathematical Formulation of L.P. problem.
- Graphical Method. Simplex Method – Concept of slack, surplus & artificial variables. Manual solutions of L.P.P. upto 3 iterations. Minimization & Maximization Problems.
- Special Cases – (i) Alternative optima (ii) Unbounded solutions & (iii) Infeasible solutions to be shown graphically & also by simplex method.
Unit II : Transportation & Assignment Models
- Definition of the transportation model. Balanced / Unbalanced, Minimization / Maximization. Determination of the initial basic feasible solution using (i) North-West Corner Rule (ii) Least cost method & (iii) Vogel’s approximation method for balanced & unbalanced transportation problems. Optimality Test & obtaining of optimal solution. (Considering per unit transportation cost)
- Assignment Problem – Hungarian method.
- Statement of Transportation & Assignment Problems as L.P. Problems.
Unit III : Network Analysis
- Construction of Network – Rules & Precautions.
- C.P.M. & P.E.R.T. Networks. Obtaining of Critical Path. Time estimates for activities. Probability of completion of project. Determination of floats (total, free, independent & interfering) Crashing of Simple Networks.
Unit IV : Decision Theory And Decision Tree
- Decision Environments – risk & uncertainty, Payoff table, Regret table.
- Decision making under uncertainty
- Maximin & Maximax criteria
- Minimax Regret criterion
- Laplace criterion
- Hurwicz criterion
- Expected Monetary Value criterion.
- Expected Value of Perfect Information (E.V.P. I.)
- Expected Opportunity Loss (E.O.L.).
- Decision Tree, Simple examples
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