Authorised by Academic Registrar, April 1996
Objectives Students are expected to acquire skills in and understanding of the principles of operations research and quantitative methods, and an understanding of the potential for the application of operations research as a management decision tool.
Synopsis Optimisation. LP problem formulation, graphical solution. LP solution algorithms: Simplex, Big M and 2-phase methods. LP post optimality analysis. Problems of degeneracy. Solution via computer package. The assignment and transportation problems. Network analysis. Shortest path. Minimal spanning tree. Maximal flow. Decision theory. Decision trees. Bayes theorem and its application in decision models. Two-person zero sum game theory. Dynamic programming: problem formulation; use in multistage decision processes.
Assessment Examination (3 hours): 75% + Tests: 20% + Tutorials: 5%