Operations Research and Decision Analysis (*elective)

Subject matter and methodology: background, form and definition of Operations Research (OR), key features, problem categories, related disciplines, application of OR. The concept of mathematical optimization and its extensions in the sciences of Engineering.

Linear Programming (LP): introduction, formulation of the general model of LP, mathematical modeling of problems, graphical solution of LP problems, solution of LP problems with the help of Microsoft EXCEL™ and Solver. Special LP problems: the Transportation problem, the Assignment problem, the Resource Allocation problem.

Integer, Separable and Non-Linear Programming: introduction, problem solving with graphical method as well as with the help of EXCEL™ and Solver. Use of Integral Binary Programming to formulate decision problems. The Dual Problem and Sensitivity Analysis. Working with Random Variables and Monte Carlo simulation.