| Semester 1, 2023 Online | |
| Units : | 1 |
| School or Department : | School of Mathematics, Physics & Computing |
| Grading basis : | Graded |
| Course fee schedule : | /current-students/administration/fees/fee-schedules |
Staffing
Course Coordinator:
Requisites
Pre-requisite: MAT1200 or MAT2200 or Students must be enrolled in one of the following Programs: MSCN or GDSI
Overview
Decision making under conditions of uncertainty, or in competitive environments, or in situations in which variables of interest evolve through time is enhanced by the application of specialised operations research techniques. This course emphasises the applications of deterministic, probabilistic and simulation techniques to problems which arise in complex decision making. The course is of special interest to those concerned with management, organizational systems, production/manufacturing systems and communication networks.
This course requires students to be capable of applying managerial control techniques to the outputs of projects; to understand the implications of decision making under uncertainty; to formulate and solve dynamic programming models; to model and solve queueing and inventory problems. Concepts in simulation are developed through the design of probabilistic simulation models for inventory and queueing problems. The oncampus offering of this course is normally available only in odd years. The external offering of this course is available yearly.
Course learning outcomes
On successful completion of this course students will be able to:
- identify deterministic and probabilistic processes
- apply analytical and simulation techniques to a range of mathematical and real-world problems
- select and develop appropriate models for a range of problems
- interpret and communicate the results of analyses to expert and non-expert audiences
- develop an awareness of how analysis is used in a commercial environment.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | Deterministic Inventory Models - deterministic and probabilistic processes - structure of inventory systems - formulations of inventory models - the basic Economic Order Quantity Model - effect on optimality of discounts - continuous-rate EOQ Models - EOQ models with back orders allowed | 16.00 |
| 2. | Probabilistic Inventory Models - single period decision models - discrete and continuous demand models - EOQ models with uncertain demand | 16.00 |
| 3. | Markov Processes - stochastic processes and definition of a Markov chain - systems defined as Markov processes - formulation of Markov process model - transition probabilities - steady state probabilities - absorbing chains - queueing problems as Markov processes | 16.00 |
| 4. | Queueing Theory - the structure of queueing systems - modelling arrival and service processes - probability distributions in queueing models - single server queueing models - multi server queueing models - finite queue length models - finite source models | 16.00 |
| 5. | Dynamic Programming - elements of the DP model - system states - recursion - applications | 16.00 |
| 6. | Fundamentals of Systems Simulation - functions and classification of simulation models - structure of system models, simulation model formulation, implementation and performance appraisal - generation of random variates - model formulation and execution of inventory problems - model formulation and execution of a probabilistic queueing problem - validation and sensitivity analysis | 16.00 |
| 7. | Implementation - roles of manager and OR specialists in decision making - factors affecting successful implementation of OR recommendations - phases of implementation and review | 4.00 |
Text and materials required to be purchased or accessed
(Available on course 精东传媒appDesk.)
(Available on course 精东传媒appDesk.)
Student workload expectations
To do well in this subject, students are expected to commit approximately 10 hours per week including class contact hours, independent study, and all assessment tasks. If you are undertaking additional activities, which may include placements and residential schools, the weekly workload hours may vary.
Assessment details
| Description | Group Assessment |
Weighting (%) | Course learning outcomes |
|---|---|---|---|
| Problem Solving 1 | No | 30 | 1,3 |
| Problem Solving 2 | No | 30 | 3,5 |
| Report | No | 40 | 2,3,4,5 |