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Operations Research Worksheet

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13 views

Operations Research Worksheet

Risearch

Uploaded by

fatiyaamahammad540
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Distance

EAST AFRICA COLLEGE


SCHOOL OF ONLINE LEARNING AND DISTANCE EDUCATION
Assignment for Degree Students
FILL UP ALL THE NECESSARY INFORMATION IN THE SPACE PROVIDED
BELOW.

Full Name: ______________________ Course Name: Operations Research


Id No.: _________________ Course Code: Mgmt-M3052
Department: ________________ Year____Term______________Total Value = 40%

Worksheet for Operations Research

1. Construct the CPM network described by the fo llowing set of act ivit ies, compute the
length of each path in the network, and indicate the crit ical path.

Activity Time (months)


1–2 4
1–3 7
2–4 8
2–5 3
3–5 9
4–5 5
4–6 2
5–6 6
3–6 5

2. Getahun, an individual investor, has $70,000 to divide among several investments. The
alternat ive investments are bonds with an 8.5% annual return, CD with a 5% return,
treasury bills with a 6.5% return, and a growth stock fund with a 13% annual return. The
investments are all evaluated after one year. However, each invest ment alternat ive has a
different perceived risk to the investor; thus, it is advisable to diversify. Getahun wants to
know how much to invest in each alternat ive in order to maximize the return.

The fo llowing guidelines have been established for diversifying the invest ments and
lessening the risk perceived by the investor.

1. No more than 20% of the total invest ment should be in Bonds.


2. The amount invested in CD should not exceed the amount invested in the other
three alternat ives.
3. At least 30% of the invest ment should be in treasury bills and CD.
4. To be safe, more should be invested in CDs and treasury bills than in bonds and the
growth stock fund by a ratio of 1.2 to 1.
Finally, it is indicated that Getahun wants to invest the ent ire $70,000.
Required: Formulate the standard linear programming model (only the model).
3. Given this LPM and its final simplex tableau:

Z max: 10 x1 + 6 x2 + 5 x3
Sub to:
2 x1 + 3 x2 + 4 x3  25
x1 + 3 x2 + 2 x3  22
6 x1 + 3 x2 + 4 x3  32
x1,, x2,, x3 > 0

Cj 10 6 5 0 0 0
Basis x1 x2 x3 S1 S2 S3 RHSV
S1 0 0 0 8/5 1 -4/5 -1/5 1
x2 6 0 1 8/15 0 2/5 -1/15 20/3
x3 10 1 0 2/5 0 -1/5 1/5 2
Z 10 6 36/5 0 2/5 8/5 60
Ci - Zi 0 0 -11/5 0 -2/5 -8/5

Required:
a) Determine the range of feasibilit y for each right hand side values
b) Determine the range of optimalit y for the decisio n variables that are in a solut ion
c) Determine the range of insignificance for the non-basic decisio n variable
d) What would happen to the optimal so lution if the right hand side value of the third
constraint is increased by 7 units?

4. GY Truck Rental firm has accumulated extra trucks at three of its truck leasing outlet, as
shown below.
Leasing Outlet Extra Trucks
1. Nazareth 70
2. Addis 115
3. Dire 60
The Company also has four outlets with shortages of rental trucks, as follows.

Leasing outlet Truck S hortage


A. Awassa 80
B. Bahir Dar 50
C. Mekele 90
D. Harar 25

1
The company wants to transfer trucks from those outlets with extras to those with short ages
at the minim total costs. The fo llowing costs of transporting these trucks from cit y to cit y
have been determined.

From To
A B C D
1 $70 80 45 90
2 120 40 30 75
3 110 60 70 80

Required: Find the init ial so lut ion using the minimum cell cost method.

5. The approximate travel times (in hours) for officiat ing crews for Unit y Universit y College
Basket ball games for four games scheduled for next weekend are shown in the fo llowing
table:
Game site
Crew Bure Meda Guto Meda Chefe Meda Jalemeda

A 1.2 1.4 0.2 1.5


B 1.0 2.0 0.5 1.0
C 1.2 3.4 2.4 0.5
D 2.1 3.1 1.1 0.8

Required:

a) What set of crew assignments will minimize travel t ime?

b) What is the optimal travel t ime required for optimal assignment?

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