ILLUSTRATION 1:
(a) What do you understand by Operation Research?
(b) State six characteristic features of Operation
Research.
(c) The central approach of Operational Research is
the use of model.
Enumerate
ten various models developed to date.
SUGGESTED
SOLUTIONS:
(a) Operation
Research is the use of mathematics and mathematical models to assist management
in arriving at decision.
It can also be defined as the application of scientific
method to the study of alternatives in a problem situation with a view of
providing a quantitative basis for arriving at an optimum solution in terms of
the goals sought.
(b) Six characteristic features of Operation
Research are as follows:
i. Based
on Science and Scientific Approach.
ii. Makes
use of model
iii. System
Oriented
iv. Inter-Disciplinary
v. Executive
Type Problem
vi. Tactical,
Routine and Operational in nature
(c) Ten
various models developed to date are as follows but not limited to the
following models:
i. Allocation
Problems:
a. Linear Programming Problems
b. Transportation Problems
c. Assignment Problems
ii. Network
Analysis
iii. Queuing
Problems
iv. Inventory
Problems
v. Games
Theory
vi. Markov
Chains Analysis
vii. Utility
Theory
viii. Sequencing
ix. Simulation
x. Replacement
Analysis
