About This Course

I. LEARNING OBJECTIVES

1. Understand the various optimal solution techniques of solving a problem by Linear Programming Modelling.
2. Understand the method of obtaining the minimal total transportation cost solution of allocating products to different destinations.
3. Understand the non-linear optimal solution techniques for solving various types of read world business problems.
4. Understand the multi-factor decision making approach for real world business problem.
5. Understand the technique of solution of a problem by adopting a simulation approach.
6. Understand how to deal with an optimal solution of a problem by network optimization techniques.
7. Understand techniques of obtaining an optimal decision by Markovian decision process.

II. INTENDED LEARNING OUTCOMES

Upon successful completion of this course, a student will be able to:

1. Define assumptions of formulating (mathematical representation of an actual situation) real world problems and solve them optimally.
2. Understand the characteristics of different types of decision-making environments and the appropriate decision making approaches to be used.
3. Find real world usefulness of each technique with many applications and limitations of models and their solution techniques.
4. The students will also get the opportunities of learning different scientific quantitative techniques for solutions of various types of non-linear programming problems.

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