Академический Документы
Профессиональный Документы
Культура Документы
J2
J3
J4
M1
10
M2
M3
M4
Daily
Demand
Probabilit
y
15
25
35
45
50
0.01
0.15
0.2
0.5
0.12
0.02
Simulate the demand for cakes for 10 days using the following sequence of
random numbers:
22, 26, 48, 53, 93, 89, 42, 91, 25, 20
If 35 cakes are baked every day in Hindustan Bakery, determine the
inventory stock. In addition, estimate the daily average demand for cakes
on the basis of simulated data.
Explain what is Monte Carlo Simulation and list the steps of of Monte Carlo
Simulation
Solve/ Compute the solution to the problem
Answer. a). Monte Carlo simulation is a computerized mathematical technique
that allows people to account for risk in quantitative analysis and decision making.
The technique is used by professionals in such widely disparate fields as finance,
project management, energy, manufacturing, engineering, research and
development, insurance, oil & gas, transportation, and the environment.
Q6. a. State the assumptions of game theory.
b. What are the characteristics of Markov chain?
c. What are the rules for prioritizing jobs?
Answer. a. In game theory one usually makes the following assumptions:
(1) Each decision maker ["PLAYER"] has available to him two or more well-specified
choices or sequences of choices (called "PLAYS").
(2) Every possible combination of plays available to the players leads to a welldefined end-state (win, loss, or draw) that terminates the game.
Winter-2015
Get solved assignments at nominal price of
Rs.125 each.