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Decision tree solvedAnurag Srivastava
油
A finance manager is considering drilling a well on their property. Based on past data, there is a 70% chance of finding water at 20 meters depth, and a 20% chance of finding water between 20-25 meters if no water is found at 20 meters. The costs to drill are Rs.500 per meter plus Rs.15,000 to buy water externally if the well is not drilled. The optimal decision tree strategy is to first drill to 20 meters, and if no water, then drill further to 25 meters, resulting in an expected cost of Rs. 11,350.Decision theory numerical
Decision theory numericalAnurag Srivastava
油
The grocer must decide how many cases of milk to stock for tomorrow's demand. Each case sold yields a profit of Rs.3, but unsold cases at the end of the day lose Rs.5. Historical demand data shows the number of cases demanded and the probability of each quantity. The optimal decision can be determined by calculating the expected monetary value (EMV) of stocking different quantities of milk based on the probabilities and outcomes. The expected profit for the grocer if they stock the quantity with the highest EMV is Rs.47.7.Crashing
CrashingAnurag Srivastava
油
The document outlines project management strategies for crashing activities to minimize project duration and associated costs. It provides detailed calculations of durations, costs, and slopes for various activities, indicating optimal strategies for achieving the minimum project length of 20 weeks with a total cost of Rs. 162,200. Additionally, it suggests an optimum duration range of 21-24 weeks with a cost of Rs. 160,800.Assignment model problems
Assignment model problemsAnurag Srivastava
油
A fast food chain wants to build four new stores and received bids from six construction companies. The document shows the bid amounts in a table and describes using the Hungarian method to determine the optimal assignment of companies to stores that minimizes the total cost. The method involves reducing the table through successive steps to reveal a unique solution with no remaining zeros. The result assigns each store to a single construction company to minimize the total cost for building all four stores.Minimisation problem
Minimisation problemAnurag Srivastava
油
The document discusses the Simplex method applied to a linear programming problem. It includes multiple iterations with values of variables (x1, x2) and constraints for each simplex tableau. Key calculations are shown for objective function coefficients (cj) and the resulting changes in potential solutions.Operations research
Operations researchAnurag Srivastava
油
Operations research (OR) is a tool used to increase the effectiveness of managerial decisions. It can help with profit maximization, production management like determining optimal product mix and scheduling, financial management, marketing management, and personnel management. Some common OR models include linear programming, transportation, assignment, and sequencing problems. OR uses mathematical techniques like linear programming, decision theory, game theory, queuing theory, simulation, network analysis, and inventory models.Ad
Unbalanced assignment problem
- 1. UNBALANCED ASSIGNMENT PROBLEM An assignment problem in which number of rows and columns are not equal to each other is an unbalanced assignment problem. It is first balanced and then solved. 咋 1 2 3 4 5 A 2.99 3.11 2.68 0 0 B 2.78 2.87 2.57 0 0 C 2.92 3.05 2.8 0 0 D 2.82 3.1 2.74 0 0 E 3.11 2.9 2.64 0 0 Machines 1 2 3 Manufacturers A 2.99 3.11 2.68 B 2.78 2.87 2.57 C 2.92 3.05 2.8 D 2.82 3.1 2.74 E 3.11 2.9 2.64
- 2. 1 2 3 4 5 A 2.99 3.11 2.68 0 0 B 2.78 2.87 2.57 0 0 C 2.92 3.05 2.8 0 0 D 2.82 3.1 2.74 0 0 E 3.11 2.9 2.64 0 0 1 2 3 4 5 A 0.21 0.24 0.11 0 0 B 0 0 0 0 0 C 0.14 0.18 0.23 0 0 D 0.04 0.23 0.17 0 0 E 0.33 0.03 0.07 0 0 1 2 3 4 5 A 0.21 0.24 0.11 0 0 B 0 0 0 0 0 C 0.14 0.1802. 0.23 0 0 D 0.04 0.23 0.17 0 0 E 0.33 0.03 0.07 0 0 1 2 3 4 5 A 0.18 0.21 0.08 0 0 B 0 0 0 0.03 0.03 C 0.11 0.15 0.2 0 0 D 0.01 0.2 0.14 0 0 E 0.3 0 0.04 0 0 1 2 3 4 5 A 0.18 0.21 0.08 0 0 B 0 0 0 0.03 0.03 C 0.11 0.15 0.2 0 0 D 0.01 0.2 0.14 0 0 E 0.3 0 0.04 0 0 1 2 3 4 5 A 0.17 0.2 0.07 0 0 B 0 0 0 0.04 0.04 C 0.1 0.14 0.19 0 0 D 0 0.19 0.13 0 0 E 0.3 0 0.04 0.01 0.01
- 4. 1 2 3 4 5 A 0.17 0.2 0.07 0 0 B 0 0 0 0.04 0.04 C 0.1 0.14 0.19 0 0 D 0 0.19 0.13 0 0 E 0.3 0 0.04 0.01 0.01 1 2 3 4 5 A 0.17 0.2 0.07 0 0 B 0 0 0 0.04 0.04 C 0.1 0.14 0.19 0 0 D 0 0.19 0.13 0 0 E 0.3 0 0.04 0.01 0.01 1 2 3 4 5 A 2.99 3.11 2.68 0 0 B 2.78 2.87 2.57 0 0 C 2.92 3.05 2.8 0 0 D 2.82 3.1 2.74 0 0 E 3.11 2.9 2.64 0 0 Manufacturer Machine Price A - 0 B 3 257000 C - 0 D 1 282000 E 2 290000 Total Price 829000