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Internal
Assignment Applicable for April 2018 Examination
Decision Analysis & Modeling
1. Discuss and
Describe the role of linear programming in managerial decision-making bringing
out limitations, if any. (10 Marks)
2. A retired person
wants to invest upto an amount of Rs 60, 000 in fixed income securities. His
broker recommends investing in two Bonds: Bond A yielding 7% and Bond B
yielding 10%. After some consideration he decides to invest at most Rs 24, 000
in Bond B and at least Rs 12, 000 in Bond A. He also wants the amount invested
in Bond A to be at least equal to the amount invested in Bond B. Formulate this
problem as a linear programing problem with the objective of maximizing the
return from investments. (10 Marks)
3. The manager of a
bank observes that, on the average, 18 customers are served by a cashier in an
hour. If the service time has an exponential distribution, answer the following
questions
a) What is the
probability that a customer shall be free within 3 minutes? ( 5 Marks)
b) What is the
probability that a customer shall be serviced in more than 12 minutes?
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