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12th Standard English Medium Business Maths Subject Operations Research Book Back 3 Mark Questions with Solution Part - I updated Book back Questions Question Bank Software May-13 , 2022

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12th Standard English Medium Business Maths Subject Operations Research Book Back 3 Mark Questions with Solution Part - I updated Book back Questions

12th Standard English Medium Business Maths Subject Operations Research Book Back 3 Mark Questions with Solution Part - I

12th Standard

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Business Maths

Time : 00:30:00 Hrs
Total Marks : 15

    Part I

    5 x 3 = 15

  1. Given the following pay-off matrix(in rupees) for three strategies and two states of nature.

    Strategy States-of-nature
      E1 E2
    S1 40 60
    S2 10 -20
    S3 -40 150

    Select a strategy using each of the following rule
    (i) Maximin
    (ii) Minimax

  2. A farmer wants to decide which of the three crops he should plant on his 100-acre farm. The profit from each is dependent on the rainfall during the growing season. The farmer has categorized the amount of rainfall as high medium and low. His estimated profit for each is shown in the table.

    Rainfall Estimated Conditional Profit(Rs.)
    crop A crop B crop C
    High 8000 3500 5000
    Medium 4500 4500 5000
    Low 2000 5000 4000

    If the farmer wishes to plant only crop, decide which should be his best crop using
    (i) Maximin
    (ii) Minimax

  3. The research department of Hindustan Ltd. has recommended to pay marketing department to launch a shampoo of three different types. The marketing types of shampoo to be launched under the following estimated pay-offs for various level of sales.

    Types of shampoo Estimated Sales (in Units)
    15000 10000 5000
    Egg shampoo 30 10 10
    Clinic Shampoo 40 15 5
    Deluxe Shampoo 55 20 3

    What will be the marketing manager’s decision if
    (i) Maximin and
    (ii) Minimax principle applied?

  4. The following table summarizes the supply, demand and cost information for four factors S1, S2, S3, S4. shipping goods to three warehouses D1, D2, D3.

    Find an initial solution by using north west corner rule. What is the total cost for this solution?

  5. A person wants to invest in one of three alternative investment plans: Stock, Bonds and Debentures. It is assumed that the person wishes to invest all of the funds in a plan. The pay-off matrix based on three potential economic conditions is given in the following table:

    Alternative Economic conditions
    High growth(Rs.) Normal growth(Rs.) Slow growth (Rs.)s
    Stocks 10000 7000 3000
    Bonds 8000 6000 1000
    Debentures 6000 6000 6000

    Determine the best investment plan using each of following criteria i) Maxmin ii) Minimax.

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