Question 1: Describe the various types of models in operation research? What are the different reasons for carrying inventory?
Question 2: A company manufactures television and radio sets has four main departments: chassis, cabinet, assembly and final testing. The monthly capacities of these are as shown below:
The contribution of television set is Rs 500 and that of a radio set Rs 250. Suppose that the company can sell any quantity of either product. Formulate this problem as an LP model to find out the optimal combination of television and radio sets.
Question 3: Write brief notes:
a) Linear programming model.
b) Queuing process.
c) Failure in replacement decision.
d) Simulation process.
e) EOQ Model.
f) Application of operation research.