Flashcards on Introduction to Operations Research

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What is the main objective of operations research?

To develop models to aid in decision making and problem solving in complex systems.

What are the three main areas of operations research?

Optimization, stochastic models, and simulation.

What are the steps involved in the operations research process?

Formulating the problem, constructing a model, solving the model, verifying the solution, and implementing the solution.

What are the advantages of using operations research?

It can help identify optimal solutions, improve efficiency, reduce costs, and increase profits.

What is linear programming?

A method of optimizing a linear objective function, subject to linear equality and inequality constraints.

What is the difference between deterministic models and stochastic models?

Deterministic models assume that all inputs are known with certainty, while stochastic models incorporate randomness and uncertainty into the input data.

What is simulation?

A technique for modeling and analyzing real-world systems using computer software to mimic the behavior of the system and visualize its operation.

What is queuing theory?

A branch of operations research that studies the behavior of waiting lines or queues.

What are some applications of operations research?

Transportation planning, production scheduling, inventory control, network optimization, and financial modeling.

What is the difference between an open system and a closed system?

An open system interacts with its environment, while a closed system does not.

What is the goal of optimization in operations research?

To find the best solution to a problem, subject to certain constraints and criteria.

What is the role of decision analysis in operations research?

To provide a systematic and logical approach to making decisions under uncertainty.

What is a constraint?

A limitation or restriction placed on a problem, such as limited resources or time.

What is sensitivity analysis?

A technique used to determine how the optimal solution of a model changes as input parameters are varied within a certain range.

What is network optimization?

A problem-solving technique that involves finding the shortest path or minimum cost path through a network.

What is the main objective of operations research?

To develop models to aid in decision making and problem solving in complex systems.

What are the three main areas of operations research?

Optimization, stochastic models, and simulation.

What are the steps involved in the operations research process?

Formulating the problem, constructing a model, solving the model, verifying the solution, and implementing the solution.

What are the advantages of using operations research?

It can help identify optimal solutions, improve efficiency, reduce costs, and increase profits.

What is linear programming?

A method of optimizing a linear objective function, subject to linear equality and inequality constraints.

What is the difference between deterministic models and stochastic models?

Deterministic models assume that all inputs are known with certainty, while stochastic models incorporate randomness and uncertainty into the input data.

What is simulation?

A technique for modeling and analyzing real-world systems using computer software to mimic the behavior of the system and visualize its operation.

What is queuing theory?

A branch of operations research that studies the behavior of waiting lines or queues.

What are some applications of operations research?

Transportation planning, production scheduling, inventory control, network optimization, and financial modeling.

What is the difference between an open system and a closed system?

An open system interacts with its environment, while a closed system does not.

What is the goal of optimization in operations research?

To find the best solution to a problem, subject to certain constraints and criteria.

What is the role of decision analysis in operations research?

To provide a systematic and logical approach to making decisions under uncertainty.

What is a constraint?

A limitation or restriction placed on a problem, such as limited resources or time.

What is sensitivity analysis?

A technique used to determine how the optimal solution of a model changes as input parameters are varied within a certain range.

What is network optimization?

A problem-solving technique that involves finding the shortest path or minimum cost path through a network.

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