The Stochastic OR Techniques part introduces the concepts and applications of the following four topics: queuing systems, inventory systems, reliability theory and decision theory. Models and examples are also given to demonstrate applications of the topics. Discrete event simulation is taught separately via lectures and computer workshops.
One of the pre-requisites for MATH6013
Aims and Objectives
Having successfully completed this module you will be able to:
- demonstrate skills in team working.
- demonstrate knowledge and understanding of the concepts and applications of the following five topics: queuing systems, inventory systems, reliability theory, decision theory and simulation.
- demonstrate practical skills in decision analysis, modelling queueing and inventory systems and calculating the reliability of systems.
- demonstrate gained skills in using computer software and programming.
- understand how to implement and analyse a discrete event simulation model using Simul8 software.
- demonstrate skills in technical report writing.
Queuing Systems: Basic elements of a queue and applications of queuing systems.
Inventory System: EOQ models, newsboy models, inventory model with stochastic demand.
Reliability Theory: Reliability of a component, reliability of a system, maintenance models, reliability and economics.
Decision Theory: Bayes’ rule, value of information, Decision trees, and utility.
Simulation: The emphasis is on simulation computing skills, which are developed in computer labs based on the SIMUL8 package.
Lectures cover: the concept of randomness; and sampling from probability distributions including discrete and continuous models.
Learning and Teaching
Teaching and learning methods
Twelve 2-hour OR techniques lectures
Twelve 1-hour OR techniques tutorial sessions
Three 2-hour simulation lectures
Six 1-hour simulation computer sessions
|Total study time||150|
Resources & Reading list
Hillier, F. Introduction to Operations Research. McGraw-Hill.
Schaum. Outline of Operations Research.
Winston, WL. Operations Research: Applications and Algorithms. Duxbury.
Ross, SM. Applied Probability Models with Optimization Applications. Dover.
Nelson, BL. Stochastic Modeling: Analysis & Simulation. Dover.
The summative coursework assessment will be on Simulation (one
individual assignment & one group assignment)
The referral/repeat assessment includes both coursework and examination. If the coursework was previously passed, it is not retaken.
Summative assessment description
Referral assessment description
Repeat type: Internal & External