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Course Objectives

  1. To give students the basic concepts of decision theory, modeling and solution methods of
    decision making problems with applications
  2. Guide the students in using different mathematical modeling techniques with OR,
  3. Teach students different methods that are used for numerical decision making,
  4. Make students gain skills in finding optimal solutions to problems

Topics

  • Fundamentals of operations research (OR) and Linear Programming (LP), Modeling with LP
  • Modeling (LP formulation)
  • Graphical Method, Simplex Algorithm
  • Main terms and concepts of decision theory
  • Introduction to CPLEX OPL software
  • Multi-criteria decison making – main concepts, applications
  • Decision trees, theory and applications
  • Utility Theory
  • Sensitivity Analysis
  • Formulating the Transportation Problem and identifying a Basic Feasible Solution
  • Solution for Transportation Problems, Assignment and Transshipment Problems