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01_introduction - Lecture 1 Operations Research Topics What...

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8/14/04 J. Bard and J. W. Barnes Operations Research Models and Methods Copyright 2004 - All rights reserved Lecture 1 – Operations Research Topics What is OR? Modeling and the problem solving process Deterministic vs. stochastic models OR techniques Using the Excel add-ins to find solutions Solving real problems
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2 What is Operations Research? Operations The activities carried out in an organization.   Research The process of observation and testing characterized  by the scientific method.  Situation, problem statement, model  construction, validation, experimentation, candidate solutions.   Model An abstract representation of reality.  Mathematical, physical,  narrative, set of rules in computer program.
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3 Systems Approach Include broad implications of decisions for the organization at each  stage in analysis.  Both quantitative and qualitative factors are  considered.  Optimal Solution A solution to the model that optimizes (maximizes or minimizes)  some measure of merit over all feasible solutions.   Team A group of individuals bringing various skills and viewpoints to a  problem.    Operations Research Techniques A collection of general mathematical models, analytical procedures,  and algorithms. 
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4 Definition of OR? 1. OR professionals aim to provide rational bases for  decision making by seeking to understand and structure  complex situations and to use this understanding to  predict system behavior and improve system  performance.  2. Much of this work is done using analytical and 
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