School of Business
Department of Management Information Systems
BMIS355: Quantitative Methods of Business Decisions
Chapter 1 | Part 1
What is Operations Research ?
Spring 2020 - 2021
BMIS355- CHAPTER 1
, Outline
Operations Research Models
Phases of an Operation Research Study
BMIS355- CHAPTER 1
, Operations Research Models
Consider the following “Tickets Purchasing” example:
A businessperson has a 5-week commitment travelling between Beirut (BEI) & Cyprus (CYP).
Weekly departure from Beirut occurs on Mondays for return on Wednesday.
A regular roundtrip ticket costs $400.
A %20 discount is granted if the roundtrip dates span a weekend.
A one-way ticket in either direction costs %75 of the regular price.
How should the tickets be bought for the 5-week period?
This Photo by Unknown Author is licensed under CC BY-NC
BMIS355- CHAPTER 1
Department of Management Information Systems
BMIS355: Quantitative Methods of Business Decisions
Chapter 1 | Part 1
What is Operations Research ?
Spring 2020 - 2021
BMIS355- CHAPTER 1
, Outline
Operations Research Models
Phases of an Operation Research Study
BMIS355- CHAPTER 1
, Operations Research Models
Consider the following “Tickets Purchasing” example:
A businessperson has a 5-week commitment travelling between Beirut (BEI) & Cyprus (CYP).
Weekly departure from Beirut occurs on Mondays for return on Wednesday.
A regular roundtrip ticket costs $400.
A %20 discount is granted if the roundtrip dates span a weekend.
A one-way ticket in either direction costs %75 of the regular price.
How should the tickets be bought for the 5-week period?
This Photo by Unknown Author is licensed under CC BY-NC
BMIS355- CHAPTER 1
