Operations Research Overview

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What is Operations Research?

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A scientific method used to analyze complex decision-making problems in various industries.

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Why is Operations Research necessary in industry?

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It helps in making informed decisions, improving efficiency, and solving complex problems.

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What is the scope of Operations Research?

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It encompasses various fields including logistics, finance, manufacturing, and healthcare.

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What are research models in Operations Research?

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Frameworks used to represent and analyze real-world problems mathematically.

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What is involved in solving the OR model?

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It includes formulating the problem, applying algorithms, and interpreting results.

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How are design problems formulated as mathematical programming problems?

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By defining objectives, constraints, and decision variables mathematically.

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What is the classification of optimization problems?

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Optimization problems can be classified into linear, nonlinear, integer, and dynamic programming.

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What are some applications of Operations Research?

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Applications include supply chain management, resource allocation, scheduling, and risk management.