CLASS: M.A. ECONOMICS
13A / 350
St. JOSEPH’S COLLEGE (AUTONOMOUS) TIRUCHIRAPPALLI – 620 002
SEMESTER EXAMINATIONS – APRIL 2013
TIME: 3 Hrs.
MAXIMUM MARKS: 100
SEM
SET
PAPER CODE
TITLE OF THE PAPER
IV
2011
10PEC4203A
OPTIMIZATION TECHNIQUES IN ECONOMICS
SECTION – A
Answer all the questions:
20 x 1 = 20
Choose the correct answer:
1.
Linear programming problems involving two decision variables can easily he solved by ______.
a) Simplex method
b) Graphical method
c) Two phase simplex method
d) None of the above
2.
The non-negativity constraints mean negative ______.
a) Value of profit is ruled out
b) Value of cost is ruled out
c) Value of output is ruled out
d) None of the above
3.
Transportation problem involves transporting goods from the origin to ______.
a) Sources of raw materials
b) Layout market
c) Money market
d) Destinations
4.
Which method is the simplest method of transportation problem?
a) North west corner rule
b) Matrix minima
c) Vogels approximation
d) None of the above
5.
The most efficient method of solving assignment problem is _____.
a) Hungarian method
b) Montecarlo method
c) Row minima method
d) None of the above
Fill in the blanks:
6.
7.
8.
9.
10.
The Dual of the Dual is ______ in linear programming problem.
The LPP is attempting to find ______ solution.
Balanced
assignment
means
the
number
of
rows
and
columns
are ______.
The solution to the LPP in graphical method is found at the ______ print.
Simulation is a quantitative technique to present actual decision making under conditions of
______.
State True or False:
11.
12.
If the numbers of rows are more than the number of columns a dummy column can be
included.
The pivot element corresponds to the maximum absolute value and minimum displacement
ratio.
13.
14.
15.
Surplus variables are added to the in equations to make them equal in LPP.
ISO profit line is used in assignment problem.
Montecarlo method is not one of the methods of simulation.
Answer in one or two sentences:
16.
17.
18.
19.
20.
Define Pivot element.
What is the meant by assignment problem?
Define transportation table.
Define operations research.
What is simulation?
SECTION – B
Answer all the questions:
21. a. Explain the uses operation Research.
5 x 4= 20
OR
22.
b.
Explain the applications of Research in Economics.
a.
Write a down a standard Linear programming problem.
OR
23.
b.
Find out the Dual of the following LPP.
Maximize z = 5x1 – 6x2 – 7x3
Subject to
x1 + x2 +2x3 ≤ 5
2x1 + 3x2 +4x3 ≤ 12
x1 + x2 +x3 ≤ 10
x1, x2, x3 ≥ 0
a.
Explain the procedure of solving Transportation problem under vogels approximation
method.
OR
b.
24.
a.
Obtain initial basic feasible solution to the following transportation problem using matrix
minima method.
D1
D2
D3
D4
Supply
Q1
1
2
3
4
6
Q2
4
3
2
0
8
Q3
0
2
2
1
10
Demand
4
6
8
6
Explain the Hungarian method of solving assignment problem.
OR
MEN
b.
TASKS
E
F
G
H
A
18
26
17
11
B
13
28
14
26
C
38
19
18
15
D
19
26
24
10
Find the optimal assignment for the above problem.
25.
a.
Explain the methodology of simulation.
OR
b.
Explain the various simulation models.
SECTION – C
Answer any FOUR questions:
4 x 15 = 60
26.
Explain the scope, applications and limitations of operations Research.
27.
Solve the following LPP by graphical method.
28.
Maximize z = x1 + x2
Subject to
x1 + x2 ≤ 1
–3x1 + x2 ≥ 3
x1 ≥ 0 x2 ≥ 0.
Use vogels approximate method to solve the following transportation problem.
29.
D
E
F
A
11
13
17
B
16
18
14
C
21
24
13
Demand
200
225
275
Find the optimal assignment for the following problem.
30.
Tasks
1
1
9
2
13
3
35
4
18
Explain the Montecarlo simulation method.
Men
2
26
27
20
30
**************
G
14
10
10
250
3
15
6
15
20
Available
250
300
400