Write a note on the economic

 Quantitative Methods

Questions:

Q1. A manufacturer o f baby doll s makes three types of dolls: Doll A , Doll B , and Doll C Processing of these dolls is done on three machines , M1 , M2 and M3 . Doll A requires 2 hours on ma chine M1 and 3 hours on machine M3 .while doll C requires 5 hours on machine M2 and 4 hours on machine M3 . There are 8 hours of time per day available on Ma chine M1 , 10 hours o f time available on machine M2 and 15 hours o f time per day available on machine M3 , The profit gained from doll A is R s 3 per doll , from doll B is R s 5 per doll and from doll C is R s 4 per doll . What should be the daily production of each type of dolls? Which machine(s) would be idle according to this plan? By how much?

Q2. Write a note on the economic interpretation of the dual.

Q3. Explain the transportation method of solving a transportation problem . Also give its schematic .

Q4. What do you understand by an assignment problem ? Give a brief outline for solving it .

Q5. Discuss the cutting-plane algorithm for solving integer programming problems .

Q6. How would you use Gantt Chart for solving sequencing problem? Why is it not employed for solving larger problem ?

Q7. What are the relevant costs for inventory decisions? How are they obtained in real life situation s?

 

 

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