OPERATIONS RESEARCH/MANAGEMENT SCIENCE 3.7.

using Premium Solver for Linear Programming

ME72504 3.8. Goal programming & multi-objective programming
3.9. genetic algorithms

4. Decision Analysis (4 hours)

Lecture : 3 Year : IV 4.1. Application of Decision analysis
Tutorial : 1 Part : I 4.2. Structuring Decision Problems
Practical : 3/2 4.3. Demand limiter
4.4. Expected Value decision-making
4.5. Optimal Expected Value Decision Strategies
Course Objectives:
5. Risk Analysis (10 hours)
5.1. Monte Carlo Simulation
To make capable of managing data, analyzing data such as sorting, pivoting tables,
5.2. Applications of Monte Carlo Simulation
and applying statistical analysis in a spreadsheet environment. To familiarize with
5.3. Building Monte Carlo Simulation Models
forecasting methods, linear programming, inventory models. To make familiar with
5.4. Different Probability Distributions
simulation in decision-making under risk and uncertainty with the use of risk
5.5. Building Simulation Models with CRYSTAL BALL & analysis
analysis software such as CRYSTAL BALL. To make capable in applying the
knowledge gained during the course for solving real problems in decision-making. 6. Optimization and Simulation (4 hours)
6.1. Optimization under uncertainty
6.2. Optimization and Monte carlo simulation
1. Introduction to Modeling for Decisions & Data Management and Analysis (7
6.3. Use of OPTQUEST and CRYSTAL BALL
hours)
1.1. application and benefits of Operations Research
1.2. developing Models
1.3. analyzing and solving models; interpretation and Use of Model Results
1.4. applications of Data Management and Analysis
Practical:
1.5. data Storage and Retrieval & data Visualization
Course project on real and practical problems such as forecasting, queuing, inventory and
2. Regression Analysis & Time series analysis (10 hours) optimization problems has to be done. The report has to be submitted on the acceptable
2.1. Regression Analysis format at the end of the course. Group presentation should be carried out at the end of the
2.1.1. Simple linear regression course period.
2.1.2. Multiple linear regression
2.2. Forecasting models with
2.2.1. trend components
2.2.2. seasonal components References:
2.2.3. trend and seasonal components 1. Ragsdale, Cliff T., “Spreadsheet Modeling and Decision Analysis, A Practical
2.2.4. Selecting the best forecasting methods Introduction to Management Science”, South Western, Cengage Learning.
2.2.5. Forecasting with CB predictor 2. Wayne Winston, and S. Christian Albright, “Practical Management Science:
Spreadsheet modeling and applications”, Thompson Learning.
3. Introduction to optimization (10 hours) 3. Camm, Jeffrey D. and James R. Evans, “Management Science & Decision Technology”,
3.1. Modeling optimization problem in EXCEL South – Western College Publishing, A Division of Thompson Learning, USA.
3.2. Building Linear Programming Models 4. Hillier, Frederick S., Mark S. Hillier, and Gerald J. Lieberman, “Introduction to
3.3. Solving Linear Programming Models Management Science: A Modeling and Case Studies Approach with Spreadsheets”,
3.4. Network modeling McGraw-Hill International Editions.
3.5. Interpreting Solver Results and Sensitivity Analysis
3.6. solving Multi-objective Models
5. Evans, James R. and David L. Olson, “Introduction to Simulation and Risk Analysis”,
Prentice Hall, Upper Saddle River, New Jersey.
6. Winston, Wayne L., “Operations Research: Applications and Algorithms”, International
Thompson Publishing.

Evaluation Scheme:
The questions will cover all the chapters of the syllabus. The evaluation scheme will
be as indicated in the table below:

Units Chapters Topics Marks

1 1 all 16
2 2 all 16
3 3 all 16
4 4&6 all 16
5 5 all 16
Total 80