Question A The basic characteristic feature of Operations Research is that it employs mathematical representations or models to analyse problems. Explain the methodology of Operations Research.
Question B 1) Describe the Monte Carlo Simulation.
2) Describe in brief the advantages and limitations of Simulation.
Question C 1) A Game refers to a situation of conflict and competition in which two or more competitors are involved in decision making in anticipation of certain outcome. Describe the following with respect to games.
- Pay-off matrix
- Strategy
- Two- person zero-sum game
- Saddle point
2) An electric company is planning to develop and produce a new stabilized power supply system. The project can be described by the following activities.
|
S. No
|
Activity
|
Predecessor (s)
|
Time (days)
|
|
A
|
Market survey
|
-
|
15
|
|
B
|
Establish design
|
-
|
5
|
|
C
|
Electrical design
|
B
|
20
|
|
D
|
Test electrical design
|
C
|
3
|
|
E
|
Mechanical design
|
B,A
|
2
|
|
F
|
Review final design
|
D,E
|
5
|
|
G
|
Manufacture prototype
|
F
|
6
|
|
H
|
Test prototype
|
G
|
10
|
|
I
|
Schedule production
|
H,A
|
3
|
Construct network diagram for the project