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Free mba assignments answers of MBA Semester 2 -MB0048-Q1. Explain the types of Operations Research Models. Briefly explain the phases of Operations Research.

Answer: Types of Operations Research Models:A model is an idealised representation or abstraction of a real-life system. The objective of a model is to identify significant factors that affect the real life system and their interrelationships. A model aids the decision-making process as it provides a simplified description of complexities and uncertainties of a problem in a logical structure. The most significant advantage of a model is that it does not interfere
with the real-life system.

Physical models       

These models include all forms of diagrams, graphs, and charts. They are designed to tackle specific problems. They bring out significant factors and interrelationships in pictorial form to facilitate analysis. There are two types of physical models. They are:

  • Iconic models
  • Analogue models
Mathematical or symbolic models

These models employ a set of mathematical symbols to represent the decision variable of the system. The variables are related by mathematical systems. Some examples of mathematical models are allocation, sequencing, and replacement models.

By nature of environment

These models can be further classified as follows:

  • Deterministic models - These are the models in which everything is defined and the results are certain, such as an EOQ model.
  • Probabilistic models - These are the models in which the input and output variables follow a defined probability distribution, such as the games theory.

By the extent of generality

These models can be further classified as follows:
  • General models – These are the models which you can apply in general to any problem. For example, linear programming.
  • Specific models - These are the models that you can apply only under specific conditions. For example, you can use the sales response curve or equation as a function in the marketing function.

Phases of Operations Research

The scientific method in OR study generally involves three phases.

Judgment phase

This phase includes the following activities:

  • Determination of the operations
  • Establishment of objectives and values related to the operations
  • Determination of suitable measures of effectiveness
  • Formulation of problems relative to the objectives
Research phase

This phase utilises the following methodologies:

  • Operation and data collection for a better understanding of the problems
  • Formulation of hypothesis and model
  • Observation and experimentation to test the hypothesis on the basis of additional data
  • Analysis of the available information and verification of the hypothesis using pre-established measure of effectiveness
  • Prediction of various results and consideration of alternative methods

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