Describe the monte carlo simulation, Operation Research

Assignment Help:

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.

  1. Pay-off matrix
  2. Strategy
  3. Two- person zero-sum game
  4. 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


Related Discussions:- Describe the monte carlo simulation

Linear Programming Problem, A paper mill produces two grades of paper viz.,...

A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i

Research, Discus and explain both probability and none probability sampling...

Discus and explain both probability and none probability sampling techniques

Research and evaluation, - Please research and discuss this activity. (plea...

- Please research and discuss this activity. (please cite all of the websites) - Prepare a memo on the research and evaluation. What does research and evaluation mean? Ele

LPP, a paper mill produce two grades of paper viz., X and Y. because of raw...

a paper mill produce two grades of paper viz., X and Y. because of raw material restrictions, it cannot produce more than 400 tona of grade X and 300 tons of grade Yin a week. ther

Replacement theory.., a pipe lis dur for rpair,the repair would cost 10000 ...

a pipe lis dur for rpair,the repair would cost 10000 and it would last for 3 years.alternatively a new pipe line can be purchase at 30000 for 10 years.assuming 10% depriciation rat

Operation research and decision making, Operations Research uses the meth...

Operations Research uses the methods of science to understand and explain the phenomena of operating systems. It devises the theories( models ) to explain these phenomena

Describe operation research, Describe Operation Research and discuss its ap...

Describe Operation Research and discuss its applications in various organizations. A company assembles heavy duty refrigerators and uses two types of compressors A & B. Two comp

Limitations of operational researchers, Among other limitations of O. R the...

Among other limitations of O. R the followings deserve mention: a. Basis: The operational researchers must be unbiased. An attempt to shoehorn result sin to a confirmation of ma

Explain the competitive environment of a company, 1) Provide an overall des...

1) Provide an overall description of the business and the competitive environment in which it operates.  You should describe: a) what type of business it  is (e.g. retail, manuf

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd