Credits: 3 (3-0-0)
Prerequisites: MSL301 & MSL302
Description
Module I : Role of quantitative methods and operations research for managerial decision making and support. Role of mathematical models in problem formulation and solving. Structure of decisions, statistical decision theory; decision making under uncertainty, risk, certainty. Decision Trees; Fuzzy Decision Making. Game theoretic applications. Mathematical Programming models- formulation and applications. Linear Programming- graphical method, Simplex technique; transportation, assignment and transshipment problems. Mixed Integer Programming.
Module II : Non-Linear Programming, introduction to Quadratic Programming, Geometric Programming and Direct Search techniques. Multiple Criteria Decision making- Goal programming, TOPSIS and AHP.
Module III : Sequential decisions using Dynamic Programming. PERT and CPM. Queuing theory- M/M/1 and M/M/n model. Monte Carlo System Simulation concepts and applications. Brief introduction to Non-traditional optimization. Case Study applications and use of OR software packages.
Prerequisite Tree
flowchart TD
MSL740-529[MSL740]
MSL740-529 --> MSL301-529[MSL301]
MSL740-529 --> MSL302-529[MSL302]
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