Question

rations Research test questions (urgent) Ope plain the graph and the parameters for which they are intended (Spt) Time 2. ization Methods? (Spt) What methods could be mentioned from U

Answer 1

Answer 1:

Given graph shows the diagram of inventory level as a function of time for the basic EOQ (economic order quantity) model.

Explanation: Given graph depicts the resulting pattern of inventory levels over time when we start at time 0 by ordering a batch of Q units in order to increase the initial inventory level from 0 to Q and then repeat this process each time the inventory level drops back down to 0.

Parameters:

a: A known constant demand rate

Q: Order quantity

Q/a: The Order Cycle Time or Time between 2 orders

The objective is to determine when and by how much to replenish inventory so as to minimize the sum of all costs per unit time.

Answer 2:

Following methods can be mentioned from Unconstrained Minimization Methods:

• methods without derivatives (direct search, finite differences);
• methods based on the knowledge of the first derivatives (gradient, conjugate directions, quasi-Newton);
• methods based on the knowledge of the first and second derivatives (Newton).

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