### What is queuing theory

Assignment Help Financial Management
##### Reference no: EM13162815

Part A

1. Give the role & significance of O.R. in business & industry for scientific decisions.

2. "The primary contribution of the game theory has been its concept rather than its formal application to solving real life problems." Do you agree? Discuss.

3. What is queuing theory? Describe the different types of costs involved in a queuing system. In what areas of management can queuing theory be applied successfully? Give examples.

4. What do you mean by Simulation? Explain Monte Carlo Simulation in present business decision making.

5. Explain the terms: (a) Basic feasible solution; (b) Non-degenerate basic feasible solution; (c) Optimal solution and (d) Pivot column

Part B

6. Explain in brief with examples: (i) North West Corner rule (ii) Vogel's Approximation Method.

7. Show that assignment problems are particular cases of transportation problem. Can an assignment problem ever be a non degenerate transportation problem? Explain.

8. " Basic Problem in queuing theory is to strike an economic balance between the service cost and the waiting cost." Elucidate this statement by taking an example.

Case Study

M/s Gupta chemicals Ltd. Markets its product through five area distributors. The company has three plants the particulars of which are given below:

The selling price excluding freight is Rs. 250 per kg and the company has commitments to supple the following quantities to the distributors:

The transportation cost, rupees per unit (borne by the manufacturer), for supply for plants to distributor are as given below:

Determine the optimal tie-up between the plants and the distributors and the maximum profit company can make.

Part C

1. Every corner of the feasible region is defined by
(a) the intersection of 2 constraints lines
(b) Some subset of constraint lines and non negativity condition
(c) Neither of the above

2. G.J. Breveries Ltd. Have two bottling plants, one located at ‘G' and the other at ‘J'. Each plant produces three drinks - whisky, beer and brandy names A, B and C respectively. The number of bottles produced per day are as follows:

A market survey indicated that during the month of July, there will be a demand of 20,000 bottles of whisky, 40,000 bottles of beer and 44,000 bottles of brandy. The operating costs per day of plants at G & J are 600 and 400 monetary units. For how many days each plant be run in July so as to minimize the production cost, while still meeting the market demand?
(a) x1= 10, x2= 4, Max Z= 8,800
(b) x1= 12, x2= 4, Max Z= 8,800
(c) x1= 10, x2= 4, Max Z= 4,400
(d) x1= 12, x2= 2, Max Z= 2,200

3. Five machines are available to do five different jobs. From past records, the time (in hrs.) that each machine takes to do each job is known & given in the following table:

Find the assignment of machines to jobs that will minimize the total time taken.
(a) 10 hours
(b) 12 hours
(c) 13 hours
(d) 22 hours

4.In performing a simulation it is advisable to
(a) Use the results of earlier decisions to suggest the next decision to try
(b) Use the same number of trials for each decisions
(c) Simulate all possible decisions
(d) None of the above

#### Questions Cloud

 What is the freezing point of an aqueous solution : what is the freezing point of an aqueous solution that has 25.0 g of glucose, C6H12O6 per 100.0g H2O (Kf=186C/M) Evaluate the natural settings of the test environment : Assess the reliability of data gathered via paid Internet users. Describe and assess the evaluation method being used by the testing company, i.e., nonvisual and verbal recording of browser activities and tester's vocal comments. What is the concentration of dissolved o2 in blood : What is the concentration of dissolved O2 in blood (or water) at this partial pressure and a normal body temperature of 37C? The solubility of O2 in water at 37C and 1atm partial pressure is 1.93x10^-3 mol/L? Culture and visual entertainment media : In a 150 words with specific examples what is the interrelationship between culture and the visual entertainment media, such as television and film. What is queuing theory : What is queuing theory? Describe the different types of costs involved in a queuing system. In what areas of management can queuing theory be applied successfully At what temperature does benzene boil : Benzene has a heat of vaporization of 30.72 kJ/mol and a normal boiling point of 80.1 degrees C. At what temperature does benzene boil when the external pressure is 490? What is the purpose of using acetic anhydride : What is the purpose of using acetic anhydride in an experiment reacting with salicylic acid to produce acetylsalicylic acid. The answer should include a description of the function of this reagent in terms of how it behaves in the reaction solutio.. What will be the concentration of the diluted solution : If you dilute 25.0 of the stock solution to a final volume of 0.460 , what will be the concentration of the diluted solution? What is the proeutectoid phase : Consider 1.5 kg of austenite containing 1.15 wt% C, cooled to below 727 degrees Celcius (1341 degrees Farenheit).

### Write a Review

#### Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

#### Foreign investment in india

The project is to study the changing trends of the Indian Markets due to the foreign investments, in particular FIIs, its impact, being the single largest investor class in the Indian Markets with respect to current issues.

#### Calculate the after-tax cost of debt

Solve the following problems and be able to discuss them relative to the financial management of a company.Calculate the after-tax cost of debt

#### Describe venture debt capital and venture equity capital

Describe venture debt capital and venture equity capital.

#### Identify appropriate industry specific ratios

Discuss the disadvantages of ratio analysis. You must use questions 1 to 3 and examples from your workplace to substantiate your discussion

#### Determine the short run profit-maximizing price

Determine the short run profit-maximizing price

#### Nonlinear programming problems

Classify the problems as to whether they are pure-integer, mixed-integer, zero-one, goal, or nonlinear programming problems.

#### Minority shareholders

Comment on the following quote:"... agency problems do not mean that the corporate firm will not act in the best interest of shareholders, only that is costly to make it do so. However, agency problems can never be perfectly solved ..."

#### Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

#### Financial accounting system

How can the conventional financial accounting system be made to serve the purpose of operational control

#### Problem on financial system

Problem on financial system

#### Stock valuation and revenue recognition

The validity of the Financial Director's proposed treatment of stock valuation and revenue recognition, referring to relevant International Accounting Standards as appropriate.