MAT2091

Mathematics for industry

M Reeder

4 points - Two 1-hour lectures per week - First semester - Clayton - Prerequisites: MAT1010 or MAT1050 - Prohibitions: GAS2711, MAT2156, MAT2511, MAT2552

Objectives On the completion of this subject, students will comprehend the essential features of operations research and the types of problems it can model and solve in business and industry; understand the essential role of computing in the analysis and solution of operations research problems and the extent and limitations of operations research techniques in the context of real-world problems. Students will have developed skills required to construct formal mathematical models for practical optimisation problems; be able to identify, formulate and solve linear programming problems and assess the results; use dynamic programming techniques in the modelling, analysis and solution of operations research problems; and conduct sensitivity analysis in the context of a number of operations research problems.

Synopsis This subject considers a number of typical operations research problems in industry and business and introduces the mathematics necessary to solve them. The subject aims to develop the ability to formulate and solve management decision problems using linear programming, dynamic programming, shortest and critical path analysis and sequential decision processes. Topics include building linear programming models; the simplex and related methods; duality; solving dynamic programming problems; sensitivity analysis, sequential decision processes, shortest path and critical path problems; applications of operations research to real-world problems; use of appropriate computer packages.

Assessment Examination (2 hours): 70% - Assignments: 30%

Prescribed texts

Lee S M and others Management science 4th edn, Allyn and Bacon, 1993
Turban E and Meredith J R Fundamentals of management science 4th edn, Business Publications, 1988

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