Question A The basic characteristic feature of Operations Research is that it employs mathematical representations or models to analyse problems. Explain the methodology of Operations Research.

Question B 1) Describe the Monte Carlo Simulation.
2) Describe in brief the advantages and limitations of Simulation.

Question C 1) A Game refers to a situation of conflict and competition in which two or more competitors are involved in decision making in anticipation of certain outcome. Describe the following with respect to games.

1. Pay-off matrix
2. Strategy
3. Two- person zero-sum game
4. Saddle point

2) An electric company is planning to develop and produce a new stabilized power supply system. The project can be described by the following activities.

Construct network diagram for the project