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OM2017

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13 views

OM2017

Uploaded by

Kartik Aneja
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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UNIVERSITY OF PETROLEUM

& ENERGY STUDIES

End Semester Examination – May, 2017

Program/course:MBA(GM) Semester – II

Subject: Operation Research Max. Marks : 100

Code :MBCQ723 Duration: 3 Hrs

No. of page/s:4

Note: Simple Calculator is allowed not the scientific (991 function) one. Graph sheets are provided by
SRE. Try to maintain the sequence while answering.

Note: All sections are compulsory.

Section – A

1. Explain the following terms and which model of quantitative techniques is suitable for its
existence: (answer in 20 word) (20 marks)
a) Saddle Point
b) Average Cost in Replacement Model
c) Pseudo random number
d) EMV
e) Zero sum game
f) Laplace criterion
g) Degeneracy in Transportation Model
h) Dominance Rule
i) Pivot element
j) Mixed strategy Verses Pure Strategy

Section – B (4*10=40)
Attempt any four questions.
2. Old Machines can be bought at Rs. 20,000 each and new ones at Rs. 50,000 each. The
old machines produce 7 items per week and new ones 12 items per week, each item being
worth Rs. 60, 000. Each machine consume electricity per day of Rs. 20. There are only
Rs.
8, 00,000 available to be spent on purchasing the machines and at the most 20 machines
can be accommodated in the space. Formulate this problem as an LP model to determine
each kind of machine that should be bought to have a maximum profit per week. Use
graphical method to get your solution.

3. A businessperson has two independent investments A and B available to him but he


lacks the capital to undertake both of them simultaneously. He can choose to take A first
and then stop, or if A is successful then take b, vice versa. The probability of success on
A is 0.6, while for B it is 0.4. Both investments require an initial capital outlay of Rs.
10,000 and both return nothing if the venture is unsuccessful. Successful completion of
A will return Rs. 20,000 (over cost) and successful completion of B will return Rs. 24,000(
over cost) . Draw the decision tree and determine the best strategy.

4. The owner of a small machine shop has four mechanics available to assign jobs for the
day. Five jobs are offered with expected profit for each mechanic on each jobs, which are
as follows:
Job

Mechanic

A B C D E

1 62 78 50 111 82
2 [ 71 84 61 73 59 ]
3 87 92 111 71 81
4 48 64 87 77 80

By using the assignment method, find the assignment of mechanics to the jobs that will
result in maximum profit. Which hob should be declined?

5. Using the principle of dominance, solve the following game.

Player B

3 −2 4
Player A [−1 4 2]
2 2 6

6. One businessperson wants to construct a hotel. He usually build 25, 50 or 100-bed hotel,
depending on weather anticipated demand is low, medium, or high. The businessperson
has been able to find out net profits, is give in the table below and the prior distribution
regarding the state of nature, which is given in the second col. Of the same table.

Event Probability A (25 bed) B (50 bed) C (100bed)


E 0.2 20,000 -10,000 -10,000
F 0.3 25,000 30,000 -5000
G 0.5 30,000 50,000 60,000

A research firm agrees to conduct a survey for Rs. 8000 and provide him with perfect
information regarding the state of nature. Is there a need of research over this cost?

Section – C Case (2X20=40 Marks)

7. The simple Engineering Company has a machine whose purchase price is Rs. 80,000.
The expected maintenance costs and resale price in different years are as given here:

Year 1 2 3 4 5 6 7

Maintenance cost 1,000 1,200 1,600 2,400 3,000 3,900 5,000

Resale value (,000) 75 72 70 65 58 50 45

Find the appropriate year of replacement.


8. An automobile production line turns out about 100 cars a day but deviation occurs
owing to many causes. The production is more accurately described by the probability
distribution given below. use random number table to simulate this problem.

Production/day Probability Production/day Probability

95 0.03 101 0.15


96 0.05 102 0.10
97 0.07 103 0.07
98 0.10 104 0.05
99 0.15 105 0.03
100 0.20

Finished car transported across the bay at the end of each day by a ferry. If the ferry
has space for only 101 cars, what will be the average number of cars waiting to be
shipped and what will be the average number of empty space?

Random Number Table:


23, 04, 50, 64, 89, 96, 48, 78, 82, 12

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