Business Research Methods

Assignment No: 1

Submitted To :

Sir Arif

Submitted By: Asim Mirza

Roll No Semester: Section:

17 MBA(R) 2nd Green

University of Agriculture Faisalaba

Operations Research Models:

1. Linear Programming
Definition
y (LP) is a mathematical method for determining a way to achieve the best outcome (such as maximum profit or lowest cost) in a given mathematical model for some list of requirements represented as linear equations

Linear programming is a considerable field of optimization for several reasons. Many practical problems in operations research can be expressed as linear programming problems. Certain special cases of linear programming, such as network flow problems and multicommodity flow problems are considered important enough to have generated much research on specialized algorithms for their solution. A number of algorithms for other types of optimization problems work by solving LP problems as subproblems. Historically, ideas from linear programming have inspired many of the central concepts of optimization theory, such as duality, decomposition, and the importance of convexity and its generalizations. Likewise, linear programming is heavily used in microeconomics and company management, such as planning, production, transportation, technology and other issues. Although the modern management issues are ever-changing, most companies would like to maximize profits or minimize costs with limited resources. Therefore, many issues can boil down to linear programming problems.

2. Integer Programming
Definition

When formulating LP's we often found that, strictly, certain variables should have been regarded as taking integer values but, for the sake of convenience, we let them take fractional values reasoning that the variables were likely to be so large that any fractional part could be neglected. Whilst this is acceptable in some situations, in many cases it is not, and in such cases we must find a numeric solution in which the variables take integer values.

The use of integer programming in waste flow allocation and in planning the expansion of a solid waste management facility is considered. The approach, which integrates the concepts of grey systems and grey decisions into a mixed integer linear programming framework, minimizes computational complexity and captures uncertainty in the optimization process. It results in binary variable solutions which offer several alternatives for facility development and continuous variable solutions which optimize waste flow allocation.

3. Network Analysis
Definition
y A network, in the context of electronics, is a collection of interconnected components. Network analysis is the process of finding the voltages ...

Usually used to analyse flows along a network. For example, to find the shortest path between two locations on a road network perhaps taking into ...

Usually used to analyse flows along a network. For example, to find the shortest path between two locations on a road network perhaps taking into a net work.

EXAMPLE:
Application of network theory and network models to explore the socially conditioned spread of HIV by sexual transmission, in order to contribute to the planning and targeting of AIDS-prevention activities aimed at both specific heterosexual risk-groups and the heterosexual population at large. RESULTS AND METHODS: In the Netherlands nationwide surveys have been conducted in 1989 and 1990, resulting in data on the sexual conduct of 15,000 people, aged 12-50 year. The survey results show that 16% of the adult population is to some extent connected to larger sexual networks or circuits, i.e. potentially vulnerable to HIV-infection. In the age-group 12-19 potential HIV-vulnerability by sexual contact increases from 5% for adolescents aged 12-13 to 40% for the age-group 18-19. The data indicate strong similarities between sexual partners in age, geographical proximity, educational level, ethnic group, lifestyles, numbers of regular and casual partners and social economic status. Application of network analysis is required for insight in the sexual networks (chains, circuits) resulting from socially conditioned partner selection mechanisms. In our elaboration an approach is chosen, combining quantitative and qualitative social sexological methods, statistics, simulations and mathematical models. CONCLUSIONS: The sexually most active categories are found among adolescents and young adults. Better understanding of their sexual networks is of vital importance to understand the spread of HIV. Furthermore this leads to specific recommendations for targeted AIDS-prevention activities.

4. Project Management

Definition
y Project management is the discipline of planning, organizing and managing resources to bring about the successful completion of specific project. The leadership role which plans, budgets, co-ordinates, monitors and controls the operational contributions of property professionals, and others.. The delivery and management of projects - it is usually performed by Program Management specialists. PM is a business process of the project-oriented company. The PM process starts with the project assignment and ends with the project approval. It consists of the sub-processes project start, project co-ordination, project controlling, project discontinuity management and project close-down.

Project management is the discipline of planning , organizing , and managing ...who is famous for his use of the Gantt chart as a project. Deliverable is a term used in project management to describe a tangible or intangible object produced as a result of the project. SMART / SMARTER is a mnemonic used in project management at the projectobjective setting stage. objectives or goals for an individual project. A project in business and science is a collaborative enterprise, frequently ... Thisuse of "project" ... techniques for project management. Project planning is part of project management, which relates to the use ofschedules such as Gantt chart s to plan and subsequently ... Software development , a much used and more generic term, does not ... is usually considered a project and the management of it borrows many soft wares. A project manager is a professional in the field of project management . ... usesthe knowledge and skills from at least four areas of expertise. Resource leveling is a project management process used to examine unbalanceduse of resources (usually people or equipments) over time,

5. Inventory Control
Definition
y supervision of the supply and storage and accessibility of items in order to insure an adequate supply without excessive oversupply The process of establishing the physical presence of all objects in a museum for which that museum has custody and is legally responsible (including objects in the collection, objects on loan to the museum, and objects in custody of the museum). Consists of all the activities and procedures used to control and maintain the right .

6. Goal Programming
Definition
y Goal programming is a branch of multiobjective optimization, which in turn is a branch of multi-criteria decision analysis (MCDA), also known as ...

The paper concerns the use of alternative and/or combined methodologies (Data Envelopment). Analysis, Regression Analysis, Goal Programming) as a means of ascertaining the efficiency as well as the efficient marginal costs of outputs of homogeneous organizational units.

Statistical Techniques:
1. Forecasting Method

Definition

Planning tool which helps management in its attempts to cope with the uncertainty of the future. It starts with certain assumptions based on the management's experience, knowledge, and judgment.

These tool are used to estimates are projected into the coming months or years using one or more techniques such as Box-Jenkins models, Delphi method, exponential smoothing, moving averages, regression analysis, and trend projection. Since any error in the assumptions willresult in a similar or magnified error in forecasting, the technique of sensitivity analysis is used which assigns a range of values to the uncertain factors (variables). A forecast (which indicates what 'might' happen) should not be confused with a budget (which shows what 'ought' to happen).

2.

Sampling Method

Definition
y Measurement at regular intervals of the amplitude of a varying waveform (in order to convert it to digital form) is called sampling. In auditing, sampling is an inevitable means of testing. However, sampling is always associated with sampling risks which auditors have to control. The use of sampling for broadband frequency synthes is presented. This approach offers several significant advantages over present techniques including reduced size, power consumption, switching speed, and circuit complexity while exhibiting improved synthesis reliability.

3.
Definition

Hypothesis Testing Method

Procedure for deciding if a null hypothesis should be accepted or rejected in favor of analternate hypothesis. A statistic is computed from a survey or test result and is analyzed to determine if it falls within a preset acceptance region. If it does, the null hypothesis is accepted otherwise rejected.

4.

Factor Analysis

Definition

A form of multivariate analysis that takes a large number of variables or objects and aims to identify a small number of factors that explain the interrelations among the variables or objects.

Factor analysis is a statistical method used to describe variability among observed variables in terms of fewer unobserved variables called factors. The observed variables are modeled as linear combinations of the factors, plus "error" terms. The possibilities of using the statistiral technique of factor analysis in describing variations in plant communities are explored. This method enables the variations to be treated as continuous, instead of resulting in a separation of the stands studied into a limited number of discrete associations or other synecological categories.

5.
Definition
y

Discriminate Analysis

An analysis technique where the dependent variable is non-metric (i.e nominal or ordinal in nature) and the independent variables are metric.

A variation of multiple linear regression analysis for prediction of the occurrence or nonoccurrence of an event. ...

When a test of multiple ANOVA is found to be significant, it must be followed by other analyses before a researcher can arrive at an accurate understanding of the data set. Two possibilities for follow-up analyses include univariate ANOVA and discriminant analysis. This article presents the results of a Monte Carlo study (N = 450) wherein typical, but simple, multivariate data were analyzed by the 2 techniques. Results demonstrate that discriminant analysis is capable of showing the underlying dimensionality of the data as well as determining the contribution of individual variables to the underlying dimensions, whereas ANOVA is limited to specifying the contribution of each variable to group separation. It is argued that when researchers analyze multivariate data, primary goals become interpretation and understanding the data set. It is concluded that discriminant analysis is most suitable for this purpose.

6.
Definition

Conjoint Analysis

Conjoint analysis, also called multi-attribute compositional models or stated preference analysis, is a statistical technique that originated in ... Pharmaceutical manufacturers need deeper and deeper market information they can rely on to make the right decisions and to identify the most ... Involves measurement of psychological judgments (such as one's preferences) or perceived similarities or differences between alternatives (for example - which factors - price, quality, dealer location - are most important to customers when buying a new car).

Conjoint analysis is a statistical technique used in market research to determine how people value different features that make up an individual product or service. The authors report results of a survey conducted to update a previous one on the commercial use of conjoint analysis. They document an extensive number of applications and show systematic changes in their characteristics consistent with research results reported in the literature. Issues relevant to the options available to analysts involved in the conduct of conjoint analysis are identified and discussed.