Description
ASSIGNMENT
Course Code: MMPO-001
Course Title: Operations Research
Assignment Code : MMPO-001/TMA/JULY/2026/JAN/2027
All Blocks Note: Attempt all the questions and submit this assignment to the Coordinator of your study centre. Last date of submission for July 2026 Semester is 31st October 2026 and for January 2027 Semester is 30th April 2027.
1. Define Operations Research. Explain its scope and discuss any three major limitations of Operations Research in managerial decision-making.
2. A retired person wants to invest up to an amount of Rs 30,000 in fixed income securities. His broker recommends investing in two bonds: Bond A yielding 7% and Bond B yielding 10%. After some consideration, he decides to invest at most Rs 12,000 in Bond B and at least Rs 6,000 in Bond A. He also wants the amount invested in Bond A to be at least equal to the amount invested in Bond B. What should the broker recommend if the investor wants to maximise his return on investment? Solve graphically.
3. Explain the importance of Integer Programming in business decisions. Give two real-life examples where Integer Programming is more appropriate than Linear Programming.
4. Discuss the situations where Monte Carlo Simulation is preferred over mathematical optimization techniques. Explain any two important steps in the Monte Carlo Simulation process.
5. Solve the following assignment problem to find the optimal solution using the Hungarian Assignment Method (HAM). Four workers are to be assigned to four different jobs (A, B, C, D) so as to minimize the aggregate time taken (in minutes). Based on previous experience, he has the information that the time taken by each worker for each job is given in the table below:
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