Business Commons^™

1969-08-07, Morehead State Board Of Regents

Morehead State Board of Regents Agenda Books and Meeting Minutes

No abstract provided.

Enumerative Algorithms For Integer And Mixed Integer Programs, Harvey M. Salkin

Research Reports from the Department of Operations

This thesis presents two flexible zero-one integer programming (single branch enumerative) algorithms. It is shown that the first method, applicable to the general program (i.e., min.(c'y: Ay<=b, y_j=0 or 1) ), has the ability, via a new dynamic origin technique, to adapt to the problem data. Other pioneering features, which assist in curtailing the length of the search, are linear programming, post optimization, and criteria for selecting branches from feasible nodes. Using this approach as a foundation, an extension for the mixed integer program (i.e., min.(c'y+d'x: Ay+Dx<=b, x>=0, y_j=0 or 1) ) is discussed. The second algorithm, applicable to the set covering problem (i.e., min.(c'y: Ry>=e, y>=0, y integer); where R is a matrix of 0's and 1's, and e is a vector of 1's), basically obtains upper and lower bounds on the integer problem from the associated linear program. It is shown, by certain proved facts, that one can always obtain two (and sometimes three) integer feasible …

Efficient Methods For Unconstrained Minimization, Leon S. Lasdon

Research Reports from the Department of Operations

It is now well known that the most efficient methods for unconstrained minimization which do not require second derivatives are those which, when applied to a quadratic, generate conjugate directions [1-4]. This insures that a quadratic in n variables is minimized in n steps or less. Since a general twice differentiable function behaves like a positive semidefinite quadratic in the neighborhood of its minimum, methods which will minimize it efficiently must work well on a quadratic. Conjugate direction methods meet this requirement, do not require second derivatives, and can be constructed so that the function is reduced at each step. …

On Determining Significant Factors For Use In Evaluating R & D Projects, Chandrasekhar Das

Research Reports from the Department of Operations

This report is concerned with selection of factors for the purpose of evaluating Research and Development projects. The approach is statistical. Projects are selected from different Divisions of the Army Materiel Command and ranked according to each of a number of proposed factors. The relative importance of the projects selected from the same Division are known a priori. Correlation coefficients between the a priori and each observed rank-order series are obtained. It is supposed that between two factors, the one having a larger number of significant correlation coefficients is more relevant than the other as a basis for project selection.

A Matrix Approach To R&D Budget Allocation Problems, Samuel Jackson Mathis, Peter Herne, Burton V. Dean

Research Reports from the Department of Operations

This paper involves an examination of an approach towards the problem of funds allocation in a research environment. The approach uses matrices of projects-sciences and sciences-objectives for which entries are subjectively estimated and compared with weighted objectives. Two examples, using hand calculations and generated data, are given. Conclusions drawn from these examples and possibilities of further applications are discussed.

Probabilistic Programming 1950-1963: An Annotated Bibliography, Robert E. Fricks

Research Reports from the Department of Operations

This document has been prepared as a part of the author's Doctoral research program in Operations Research at Case Western Reserve University. The motivation for the effort has been purely selfish. Since a comprehensive literature survey in the proposed area of study is a desirable prerequisite to the formulation of a meaningful thesis problem the readings would have been appropriate in any event. Given the volume of writings in the field of interest it is logical that some sort of systematic index be prepared to aid in the retention of the techniques presented by the accumulated literature. This bibliography with …

1969-06-02, Morehead State Board Of Regents

Morehead State Board of Regents Agenda Books and Meeting Minutes

No abstract provided.

Applications Of Binary Programming To R&D Project Selection Problems, Arza K. Rao

Research Reports from the Department of Operations

This paper utilizes binary programming formulations of certain R&D project selection problems. This formulation leads to significant computational advantages over the previous formulations. The first problem considered is that of allocating a specified budget among a set of technical approaches, so that the probability of at least one approach being successfully completed is maximized. Secondly, the problem of multi-period allocation is considered, where the objective function is the same as above. Thirdly, a shared project model is also considered, where each project can be allocated different amounts. An algorithm to solve binary programming problems has been developed by Professor Egon …

Computer Time-Saving Applications In Economic Analysis: An Integrated Approach, Martin I. Taft, Arnold Reisman

Research Reports from the Department of Operations

A generalized evaluation program known as EVAL, and a general "present worth" program known as CEBS have been developed in the FORTRAN IV Computer language and are currently operational on a time-sharing or batch basis. The programs lead an individual or a group of people through a systematic step-by-step procedure for evaluating the relative value (utility including present worth) of each of a given set of alternatives with respect to explicitly stated goals and objectives. Applications in such areas as equipment design, selection, optimization and replacement; personnel administration; and allocation of resources are presented.

Analysis Of Usage Of The University Circle Development Foundation Bus System, William J. Brown, James K. Hartman

Research Reports from the Department of Operations

An equitable method of allocating the costs of operating the UCDF shuttle bus system across member institutions is one according to which member institutions would be assessed a fraction of the system's costs equal to the ratio of its riders to total ridership. In order to develop such a method, that is to obtain the individual institution ratios, a passenger survey was conducted by non-UCDF personnel. From this survey, institution ratios were computed for ten institutions judged to be the heaviest users of the system. These ratios, separately calculated for each bus route and weekday, weekend, and whole week service, …

Financing The Nuclear Fuel Requirements Of Public Utilities, Peter A. Lewis

Theses

A major portion of new electric generating capacity will be nuclear powered. The change to nuclear power will require large outlays of capital not required with conventional fuels to finance nuclear fuel inventories. Nuclear fuel financing requirements are unique because nuclear fuel is not consumed in the same manner as conventional fuels. Financing has not been a problem to date because nuclear fuel can be obtained only through lease from the Atomic Energy Commission. This arrangement will be terminated by June 30, 1973 and from that date on all nuclear fuel must be privately owned. Electric utilities have shown an …

Some Flow Shop Scheduling Problems Involving Sequence Dependent Setup Times, Burton D. Corwin

Research Reports from the Department of Operations

This research considers two and three machine static flow shop scheduling problems in which exactly one of the machines is characterized by sequence dependent setup times. Based on both the number of machines involved and the position of this particular machine in the shop, five different problems can be identified. The optimality of permutation schedules for each of these problems is investigated. Then, a dynamic programming algorithm for obtaining an optimal permutation schedule is developed for each problem. The computational requirements of each of these algorithms are discussed. Finally, a branch and bound algorithm for obtaining an optimal permutation schedule …

An Application Of The Factor Analytic Approach To The Construction Of An Overall Business Activity Index, Jay Quigley Butler

Anderson School of Management Theses & Dissertations

Business economists attempting to determine and to describe the changes in the business activity of metropolitan areas and other geographic sections are seriously limited in their work by the absence of a satisfactory Overall Business Activity Index (OBAI). Although there are several methods for constructing such a composite index, this thesis examines the application of factor analysis to the construction of an OBAI. The difficulty of applying this statistical technique has been in developing a set of weights for combining the extracted factors into an OBAI. Among the objectives of such an overall index are that it should preserve the …

Bank Asset Management: A Study Of A Linear Program Model Developed By D. Chambers And A. Charnes, Christopher Crosby Inman

Anderson School of Management Theses & Dissertations

STATEMENT OF THE PROBLEM

Bank management is constantly faced with the task of maximizing asset profitability within the constraints of liquidity and safety. In an attempt to aid management in the solution of this problem, several asset management models and theories have been developed. One such model was developed by D. Chambers and A. Charnes and was presented in the July, 1961 issue of Management Science. This model utilizes a linear programming approach to determine an optimal asset portfolio which maximizes profits while satisfying a bank's liquidity and safety needs. The purpose of this thesis is to critique this model. …

Towards The Design Of An Industrial R & D Management Information System, Peter Herne

Research Reports from the Department of Operations

This report provides a foundation for designing a management information system (MIS) for industrial research and development (R&D) operations. The study, based on published research and interviews with personnel at various management levels in an R&D center, examines the objectives of corporate R&D activities and associated functions. It identifies the information requirements for each management level and analyzes the flow of information between system elements. The report explores general principles and operational challenges of MIS implementation and evaluates specific issues regarding project progress and value. Recommendations are presented to guide the design and optimization of management information systems for industrial …

Cost-Effectiveness In R And D Organizational Resource Allocation, Burton V. Dean, Lewis A. Roepcke

Research Reports from the Department of Operations

A method for use in allocating resources to a multi-laboratory, multi-task research and exploratory development program is described. The basic elements of the underlying model are the (1) tasks, projects, and laboratories, (2) contributing sciences and technologies (S & T's), (3) criticality of such fields to achieving organizational objectives, (4) relative values of objectives, and (5) costs of performing tasks. Structural models are developed for interrelating tasks, S & T fields, and objectives. A cost-effectiveness model is developed for use in allocating resources to tasks. Research and exploratory development effectiveness is measured in terms of the value of task contribution …

Generalized Geometric Distributions In The Theory Of Queues, Richard V. Evans

Research Reports from the Department of Operations

The geometric character of the limiting distribution of the joint distribution of the number of customers in the system and a finite valued supplementary- variable are extended to the case of a continuous valued supplementary variable, As an example the results are used to derive the limiting distribution for M|G|1.

No. 73 1969 April Review

International Journal for Business Education

This initiative documents the preservation and digital release of the organization’s historical print archives, representing decades of scholarship in international business education. By converting legacy issues into accessible online formats, the project enhances global access to foundational research, pedagogical innovations, and early thought leadership that shaped the field. The digitized collection provides educators, researchers, and practitioners with a comprehensive record of evolving theories, instructional practices, and international business trends. Making these archival materials publicly available supports continued inquiry, enables longitudinal analysis, and strengthens the discipline’s historical continuity. This effort reflects the organization’s commitment to advancing international business education by ensuring …

1969-03-26, Morehead State Board Of Regents

Morehead State Board of Regents Agenda Books and Meeting Minutes

No abstract provided.

Inventory Control Of Substitute Products, Arvindlal A. Shah

Research Reports from the Department of Operations

Multiproduct periodic review dynamic inventory models with stochastic demands are studied. The case of two products in which one is a substitute for the other is considered in detail. For a given substitution policy, optimal restocking policies are obtained which minimize relevant costs over the envisaged planning horizon. When the planning horizon consists of more than one restocking periods the optimal restocking policies are given for both cases when excess demands are backlogged and when they are lost. Simple conditions on unit costs are obtained which guarantee that the optimal restocking policies are simple. Next a model is considered in …

Defining The Role And Estimation Of The Discount Factor In A Security Valuation Model, Yoshiro Kuratani, Joseph E. Bechtold, Samuel J. Mantel Jr.

Research Reports from the Department of Operations

There has recently been an increasing amount of interest in security valuation models stemming both from their widening use in portfolio selection methods and from the attempt to integrate investment theory and financial management. In the latter situation, some type of security valuation model is necessary to identify and measure the market response to internal financing and investment decisions. In the literature, many cross-sectional models have shown very poor explanatory capability because the random disturbances have been so large that they have overpowered and obscured whatever systematic forces the model has been attempting to measure. Some authors have endeavored to …

Community Values And Operations Research, Samuel J. Mantel, Jr., Burton V. Dean

Research Reports from the Department of Operations

If there is any characteristic that can be singled out as the distinctive phenomenon of our twentieth century it must be the rapid growth in the complexity of organizations and their decision processes. Errors in making decisions can be extremely costly in both human and material resources. Indeed, the long life of many capital investments means that the results of some errors may be, for all intents and purposes, irreversible. Certainly the decision problems involved in urban transportation and land-use planning are among the most difficult and complicated decisions we can make. We face the question, "What will be the …

Prepaid Dental Plan: Final Report, Burton V. Dean, U. Narayan Bhat, Amar J. Singh, Chandrasekhar Das

Research Reports from the Department of Operations

This report presents a methodology for designing a Prepaid Dental Plan. Important factors that characterize the design of a plan are dealt with at length. Quantitative methods have been developed to measure the cost and performance of a plan. A dynamic programming technique to select the optimal plan, which minimizes total unsatisfied needs, for a specified budget level is developed. Numerical examples have been provided to illustrate the use of these methods. Results of a statistical analysis of dental plan data are summarized.

Industrial Resources: Bell County, Kentucky Library Research Collections

Bell County

"Industrial Resources: Bell County, Kentucky" prepared by the Pineville Chamber of Commerce, the Middlesboro Chamber of Commerce, and the Kentucky Department of Commerce,1969. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Ohio County, Kentucky Library Research Collections

Ohio County

"Industrial Resources: Ohio County, Kentucky" prepared by the Kentucky Department of Commerce in cooperation with the Ohio County Chamber of Commerce, 1969. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Oldham County, Kentucky Library Research Collections

Oldham County

"Industrial Resources: Oldham County, Kentucky" prepared by the Kentucky Department of Commerce in cooperation with the LaGrange-Oldham County Chamber of Commerce, 1969. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Laurel County - London, Kentucky Library Research Collections

Laurel County

"Industrial Resources: London, Kentucky" prepared by the Kentucky Department of Commerce in cooperation with London-Laurel County Development Association, 1969. The report includes, but is not limited to, information about: labor markets, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets and climate.

Industrial Resources: Owen County - Owenton, Kentucky Library Research Collections

Owen County

"Current Industrial Resources: Owenton, Kentucky" prepared by the Owen County Industrial Development Foundation and the Kentucky Department of Commerce, Frankfort, Kentucky, October 1969. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Perry County - Hazard, Kentucky Library Research Collections

Perry County

"Industrial Resources: Hazard, Kentucky" prepared by the Kentucky Department of Commerce in cooperation with the Hazard Chamber of Commerce, 1969. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Clark County - Winchester, Kentucky Library Research Collections

Clark County

“Industrial Resources: Winchester, Kentucky" prepared by the Kentucky Department of Commerce and the Winchester – Clark County Chamber of Commerce, 1969. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.