NMIMS JUNE 2020 Walter and Gordon model

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Course: Decision Analysis & Modeling

Internal Assignment Applicable for June 2020 Examination

v Decision Analysis involves a systematic decision making process. Explain the approaches to the study of Decision Analysis and Modeling with a suitable example.
(10 Marks)

2. Explain the application of simulation in business analysis. (10 Marks)

vii. a. Solve the following problem: Maximize Z = 40a + 35b Subject to: 4a + 6b <= 120
8a + 6b <= 192 and a and b both are nonnegative

(5 Marks)

3. b. What is the difference between the assumption of linearity and continuity in LPP?

(5 Marks)

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