Quantitative Methods- Ii

Topics: Game theory, Operations research, Decision theory Pages: 2 (274 words) Published: June 2, 2013
QUANTITATIVE METHODS- II

Module I (6 Hours) Introduction to Operations Research. Definition, scope of Operations Research, characteristics, advantages and limitations. Quantitative approach to decision making, models & modeling in Operations Research.

Module II (8 Hours) Linear programming, Structure of linear program model, Assumption, Advantages, Limitations, General mathematical model, Guidelines for formulation of linear programming model, Graphical method, algorithm (Only illustrative problems) Duality in linear programming..

Module III (8 Hours) Transportation problem, General structure of transportation problem, methods of finding initial basic feasible solution (NWCM,LCM & VAM), test for optimality (MODI Method), degeneracy (theory only), Assignment problems, Introduction, General structure. problems on minimization & maximization

Module IV (8 Hours) Decision theory – decision under uncertainty- Maxmin & Minmax, decision under Risk- Expected Value, decision tree problems. Job Sequencing- N Jobs-two machines and N Jobs-three machines, 2 jobs-M machines cases.

Module V (8 Hours) Theory of games- formulation of game models, Two person Zero sum games & their solution, 2 x N and M x 2 games, pure strategy games with saddle point, Mixed strategies (Graphical and algebraic methods), Limitations of game theory. Module VI (6 Hours) Simulation, process of simulation, types of simulation, steps in simulation process, Monte Carlo simulation, application in queuing, inventory,finance, marketing and HR areas, Advantages & Disadvantages . Module VII (4 Hours) Queuing theory, General structure of queuing system, Operating characteristics of queuing system, Queuing models (Problems on M/M/1) Module VIII (8 Hours) Project management, Structure of projects, phases of project management-planning, scheduling, controlling phase, work break down structure, project control charts, network planning,

PERT & CPM, Network components & precedence relationships,...
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