Student Solutions Manual For Winston 39;s Operations Research Applications And Algorithms

[Raguel Charrette]

Basicknowledge of mathematics and quantitative techniques (equivalent to Mathematics II) would be advisable. Furthermore, a basic awareness of algorithmic techniques is equally convenient. Finally, the analysis of business and organizational situations in which the course focuses on requires a basic understanding of Business Economics.

Unit 0. Operational Research methodology

We will discuss the role of models in the decision-making process, together with the broad lines of the methodological process used in OR to help such process. It will involve the conceptual analysis of a project or problem, the use of various design tools to model it; as well as the process of definition, validation and planning the implementation of the recommended solution. Preparation and presentation of results, both in oral and written form, is also an important part of this process.

The topic aims to the detailed study of linear programming, probably the most popular and widely used mathematical programming model. We will first study the basic features of linear problems and their solutions. Graphic resolution of two variable models will lead to the study of general algorithmic methods to compute optimal solutions (simplex method), and to the use of software. Sensitivity analysis is also considered, together with the review of several standard applications of linear programming.

The unit presents some economic situations requiring relatively simple nonlinear models. We will review the theoretical conditions for finding the optimal solution (based on the Lagrange function and the Karush-Kuhn-Tucker conditions), and introduce the basic numerical methods for solving nonlinear problems in an algorithmic way.

The teaching methodology focuses on problem-based learning, based on a range of problems connected with the reality of business management. In particular, a number of different classical meta-models will be used to boost the IO for its formal development (the diet problem, the problem of the traveling salesman, transportation, assignment and transshipment problems, etc.).

This approach requires a special involvement of the students in the development of the lectures of the course. Indeed, the students will be allowed to decide, up to a point, when and which of the main theoretical results of the field will be studied during the course. Therefore, the order of the units may not be strictly followed; and unit 0 will be in fact compiled as such towards the end of the semester.

The course will use generic software, including Microsoft Excel Solver, but also more specific software. The objective is twofold: to serve as a help tool in understanding different mathematical techniques for solving IO models; and to allow the analysis of problems conceptually and numerically more complex without the difficulties of a manual resolution. The aim is to highlight both the modeling and the interpretation of all information provided by the software. It is therefore recommended for students to regularly bring their laptops to the classroom.

During the course, both teamwork and the collaborative exchange of information and tools for modeling and solving problems will be encouraged. However, the final learning process must be individual, to complement and enrich the work initiated in the course's directed sessions. The supervised activity, around regular tutorials and sporadic consultations carried out during the course, is also an indispensable tool in acquiring the suitable knowledge and skills the subject should provide.

Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.

"The dates of evaluation activities cannot be modified, unless there is an exceptional and duly justified reason why an evaluation activity cannot be carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will be scheduled within the same academic period to make up for the missed evaluation activity." Section 1 of Article 115. Calendar of evaluation activities (Academic Regulations UAB). Students of the Faculty of Economics and Business, who in accordance with the previous paragraph need to change an evaluation activity date must process the request by filling out an Application for exams' reschedule at _feie/application-for-exams-reschedule

After all grading activities have ended students will be informed of the date and way in which the course grades will be published. Students will be also be informed of the procedure, place, date and time of grade revision following University regulations.

"To be eligible to participate in the retake process, it is required for students to have been previously been evaluated for at least two thirds of the total evaluation activities of the subject." Section 3 of Article 112 ter. The recovery (UAB Academic Regulations). Additionally, it is required that the student achieves an average grade of the subject between 3.5 and 4.9.

The date of the retake exam is posted in the calendar of evaluation activities of the Faculty. Students taking this exam and passing will get a grade of 5 for the subject. The students having not passed the retake exam will be graded using his/her final exam grade, and hence, will fail the course.

Despite other disciplinary measures deemed appropriate, and in accordance with current academic regulations, "whenever a student makes any irregularity that could lead to a significant variation in the grade of an evaluation activity, it will be graded with a 0, regardless of the disciplinary process that can be instructed. In case of occurrence of various irregularities in the evaluation of the same subject, the final grade of this subject will be 0". Section 10 of Article 116. Results of the evaluation. (UAB Academic Regulations).

PEO2: Graduates exhibiting spirit of inquiry, innovation and ability to solve problems in dynamic business environment.PEO3: Graduates with value based leadership skills, entrepreneurial capabilities and global awareness serving enterprises and society.

Assesment PatternAssessment

Course Description: This course is offered to MBA students during the first trimester. The course is designed to induct the students into the MBA program from various cultures, perspectives and educational background. The course ensures induction of the students into reading habits related to business, develops curiosity through current affairs and equips the students to benefit from peer learning through a structured mentoring process.

Course Objectives: This course enables the students to be equipped with the current affairs knowledge with specific focus on business. This is ensured by habituating the students in the business newspaper reading process enabling them to discuss, critically analyse news in an inquisitive manner. Activities in the course are designed to improve communication and presentation skills of the students.

CO1: Inculcate the newspaper reading habitCO2: Develop inquisitiveness through critical analytical processCO4: Appreciate various cultures and perspectivesCO5: Develop good communication skills through peer interaction

Accounting is the language in which the financial information is communicated in the world of business. Managers, irrespective of their functional areas will be either directly or indirectly exposed to the financial information and will have to use them in their decision-making. This course tries to familiarize students with the basics of financial accounting. The course describes the concepts of accounting, its principles, its standards and uses of the accounting information. Ultimately this course discusses preparation of income statement and balance sheet and financial statement analysis.

CLO1 : Understand the fundamentals of financial accounting, the principles and concepts underlying them. CLO2 : Analyze the effects of transactions on the accounting equationCLO3: Understand the financial statements and the items appearing therein. CLO4 : Assess the flow of cash in the business through cash flow statement. CLO5: Analyze and interpret the financial health of an organization through its financial statements and accounting information.

Course Description: This course is offered in the first trimester to equip students with the art of managerial decision making at the firm level. Managerial Economics introduces students to the concepts of demand, pricing, cost, production, and markets. The course also demonstrates how all these concepts helps the manager in taking optimum and rational decisions.

CO1: Develop the fundamental concepts of microeconomics used to facilitate the problem of scarcity and resource allocation in the context of choices and opportunity cost.CO2: Examine the factors determining the Demand and Supply, elasticities and forecasting of demand.CO3: Analyze consumer behavior with the help of concepts of utility and indifference curve in their pursuit of maximization of satisfaction with limited money income.CO4: Deduce the cost, revenue, and production functions for business implications.CO5: Assess the different market conditions, intensity of competition, and conditions for equilibrium in different types of markets like perfect competition, monopoly, monopolistic competition, oligopoly, and duopoly.

Definition of demand, Law of demand and its determinants and exceptions, movement along the demand curve and shift in demand curve. Demand and supply relationship*. Definition of supply, Law of supply, Movement along the supply curve and shift in supply curve, Factors affecting supply, Market equilibrium and pricing, floor price and ceiling price. Application of demand and supply analyses: Concepts of elasticity, degree, determinants & types, practical implication, Relationship of Revenue and elasticity of demand, Demand forecasting and its use in demand. Qualitative and Quantitative interpretation of demand techniques-model specification using regression and OLS.

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