Course Objectives
- To give students the basic concepts of decision theory, modeling and solution methods of
decision making problems with applications - Guide the students in using different mathematical modeling techniques with OR,
- Teach students different methods that are used for numerical decision making,
- 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
