ORL-20306 Decision Science 1

Course

Credits 6.00

Language of instruction:

Dutch and English

Continuation courses:

Decision Science 2

Contents:

In period 2 this course will be given in English, in period 3 in Dutch (Besliskunde 1)
Decision Science is dealing with quantitative methods and techniques to support decision processes. The background of the methods is discussed in the course and it is indicated how they can be applied to practical decision problems. The modelling is illustrated by way of many decision problems of firms, consumers, governments and non-profit organisations.
Subjects:
Sketch of some typical decision problems: fodder composition, location-allocation problems, transportation problems, supply chain problems, household budgetting, production planning, etc. Linear algebra with respect to sets of equalities. Linear programming, graphical method, simplex method, duality, shadow prices, sensitivity analysis. Integer Linear programming and the Branch-and-Bound method. Decision problems with several objectives. Dynamic programming. Interpretation of results.

Aims:

- recognise situations where typical decision problems are relevant;
- the ability to formulate a quantitative decision model given a description of a decision problem;
- understanding the theory and background of several optimization techniques and knowledge how to apply them.

Activities:

- study written material;
- making exercises;
- using OR software in computer practicals;
- following lectures with an active attitude.

Examination:

Written exam.

Literature:

Dictaat Besliskunde 1 / Syllabus Decision Science 1.