Intelligent Modeling and Practical Solutions

G. S. R. Murthy
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G. S. R. Murthy: Indian Statistical Institute

Chapter Chapter 7 in Applications of Operations Research and Management Science, 2015, pp 161-213 from Springer

Abstract: Abstract Industries often approach consultants with specific questions or problems. There is a great deal of demand for consultants in this regard. Some problems, though straightforward in terms of formulation, need special techniques for solving them. This chapter presents five live cases of industrial problems, some requiring special solutions and some requiring statistical modeling. One case deals with an important problem of determining the possible frequencies of amino acid molecules in a synthesized polypeptide – a typical integer linear programming problem application but requires an efficient solution procedure. Two of the cases are applications of multivariate analysis techniques – one dealing with comparing a company’s product with a reference product, and the other is about a procedure for rating a product based on multiple characteristics. Another case deals with the assessment of reliability of CFL bulbs. Besides estimating the reliability of bulbs, this case uses Markov chains and simulation to determine the number of test benches required for testing the bulbs. The last case of this chapter deals with evaluating two insurance schemes, again a nice application of Markov chains.

Keywords: Failure Time; Reference Product; Reliability Function; Pension Scheme; Technical Personnel (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-3-319-17921-6_7

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