Course Outcomes (COs):
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Course Outcomes
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Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO71: Discriminate the characteristics of different types of decision-making environments and the appropriate decision-making approaches and tools to be used in each type. CO72: Formulate the mathematical tools that are needed to solve optimization problems. CO73: Design and solve transportation and assignment models. CO74: Learn to estimate hypothetical values for a variable based on other observations. And to provide students with the opportunity to practice learned skills in real-life situations with simulation techniques CO75: Persuade the best strategy using game theory. Acquire skills to get a balanced and controlled waiting line. |
Interactive Lectures, Discussion, Tutorials, Team teaching |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
Quantitative Techniques- : Basic Concepts and Definitions, merits and demerits, classification of QT, Nature and Functions, Role of QT in trade and Industry, application of QT, Limitations
Transportation: Meaning, definition, Solving the problem. unbalanced problems, prohibited route, Maximization objective.
Assignment: Solving the problem. Cases of unbalanced problems, multiple optimum solutions, maximization objective , Prohibited Route
Linear Programming: Mathematical formulation of Linear Programming problems and their solution using Graphic approach and Simplex method, Duality.
Concept of Permutation and Combinations
Probability- Basic Concepts, Importance of Concept of Probability, Theorem of Probability (Additional Theorem and Multiplication Theorem), Conditional Probability, Bayes’ Theorem, Mathematical Expectation
Interpolation & Extrapolation: Newton’s methods of advancing differences, Binominal Method & Lagrange’s Method
Simulation - Methodology and Application of Simulation technique.
Monte Karlo Simulation Model- Concept and steps.
Game Theory: Games of Pure strategy, Games of Mixed strategy, Law of Dominance, Sub Game
Queuing Theory: Elements of Queuing theory, Single Channel Queuing Problem.
• Agarwal, N. P. Quantitative Techniques . Ramesh Book Depot.
• Mathur, Khandelwal, & Gupta. Operational Research. Ajmera Book Company.
• Nag, N. K. Quantitative Methods . Kalyani Publishers
• Kapoor & Sancheti. Statistics Theory and Practice. Sultan Chand and Sons, New Delhi
• Agarwal, NP & Chaturvedi A, Advanced Business Statistucs, Ramesh Book Depot
SUGGESTED REFERENCE BOOKS:
e- RESOURCES:
REFERENCE JOURNALS:
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/quantitative-techniques
[2] https://www.bbau.ac.in/dept/UIET/EME-601%20Operation%20Research.pdf
[3] https://wdn2.ipublishcentral.com/himalaya_publishing_pvt/viewinsidehtml/501555551489264
[4] https://www.amirajcollege.in/wp-content/uploads/2020/10/3151910-operations-research-theory-and-applications-by-j.-k.-sharma-z-lib.org_.pdf
[5] https://accountingtaxation.iisuniv.ac.in/academic-year/2023-2024