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Articles 1051 - 1080 of 1196

Full-Text Articles in Business Administration, Management, and Operations

Defining The Role And Estimation Of The Discount Factor In A Security Valuation Model, Yoshiro Kuratani, Joseph E. Bechtold, Samuel J. Mantel Jr. Mar 1969

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 …

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Community Values And Operations Research, Samuel J. Mantel, Jr., Burton V. Dean Mar 1969

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 …

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Prepaid Dental Plan: Final Report, Burton V. Dean, U. Narayan Bhat, Amar J. Singh, Chandrasekhar Das Feb 1969

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.

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Long-Range Planning & Operations Research, Vaclav Kluson Jan 1969

Long-Range Planning & Operations Research, Vaclav Kluson

Research Reports from the Department of Operations

In the present paper a system of long-range planning devised for planning on the level of an industrial section in Czechoslovakia is described. To facilitate understanding of some special problems solved, a brief survey of the Czechoslovakian economic and managerial reform is presented in Part II. This survey is based on the conditions and thinking during mid 1968, supplemented by some information regarding recent changes. Part III is devoted to the presentation of the planning system concept as shown in the flow chart of Appendix A. This concept can be applied with few modifications to the company or corporation level …

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Analysis Of Congestion Problems In Ucdf Operations, James K. Hartman Jan 1969

Analysis Of Congestion Problems In Ucdf Operations, James K. Hartman

Research Reports from the Department of Operations

The study addresses congestion issues within the University Circle Parking System, where the number of users significantly exceeds available parking spaces. This over-assignment has led to user complaints about the inability to find parking during peak hours. The primary goal was to collect and analyze data to reassign parkers from overcrowded lots and develop future over-assignment policies. The research focused on three lot complexes: 29 & 33, 45, 23 & 22, and 20 & 21. Data collection involved identifying who was assigned to park in these lots and who actually parked there during peak hours. This information helped calculate the …

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Advanced Materiel Systems Planning Program Translation And Simulation, Burton V. Dean, Andrew J. Leeson Jan 1969

Advanced Materiel Systems Planning Program Translation And Simulation, Burton V. Dean, Andrew J. Leeson

Research Reports from the Department of Operations

Previous studies have indicated the need to develop computer programs for use in simulating R&D systems planning problems. This study is concerned with developing a UNIVAC 1108 program which simulates alternative budgeting and project selection decisions in planning Army Materiel Command R&D programs. Simulations are conducted to test the effects of errors in estimating parameter values on solutions. Risks, costs, and values are required input data for the computer programs. Case Western Reserve University's UNIVAC 1108 was used in this study. This report was prepared as part of the activities of the Department of Operations Research, School of Management, Case …

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Allocation For Exploratory Development: Modifications In The Torque Model, Allan L. Service Jan 1969

Allocation For Exploratory Development: Modifications In The Torque Model, Allan L. Service

Research Reports from the Department of Operations

The Project TORQUE (Technology or Research Quantitative Utility Evaluation) methodology is examined in detail. A multi-level mathematical program model of the TORQUE procedure is developed. Two kinds of limitations are identified: one arising from procedural uncertainties and the other from process uncertainties. Various modifications in the formulation of the objective function are proposed to deal with these limitations. Directions for future work are indicated.

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On The Least Positive Root Of The Equation Z = K(Z) In Queueing Theory, Izzet Sahin Jan 1969

On The Least Positive Root Of The Equation Z = K(Z) In Queueing Theory, Izzet Sahin

Research Reports from the Department of Operations

In the study of the queue GI/M/1 (with general independent inter-arrivals, exponential service times and a single server) some results of interest are expressed in terms of the least positive root ξ of a functional equation of the form z = K(z). A computational procedure to obtain ξ numerically with any preassigned degree of accuracy for the queues Ek/M/1 (with Erlangian interarrivals) and D/M/1 (with constant interarrivals) is given. Some upper bounds for the root ξ are also obtained.

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On The Design Of A Ucdf Management Information System, Fred Preston Jan 1969

On The Design Of A Ucdf Management Information System, Fred Preston

Research Reports from the Department of Operations

This report presents the characteristics and computer programs developed for use by the University Circle Development Foundation (UCDF) in the management of the UCDF parking system. The current system is briefly described and the characteristics of the design of the management information system are specified. Included in the system design are (1) list requirements, (2) permit application forms, (3) information processing characteristics, and (4) file design and construction. Computer programs are described and presented in the Appendix. Operating characteristics including application form processing and tape handling are specified. This management information system has been placed in use by UCDF and …

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Transportation Systems For Maternity And Infant Care Project Patients, Amar J. Singh Dec 1968

Transportation Systems For Maternity And Infant Care Project Patients, Amar J. Singh

Research Reports from the Department of Operations

This study examines the operations of the Maternity and Infant Care Project based at Cleveland Metropolitan General Hospital, which experienced lower-than-expected patient utilization during its first two years. Using Operations Research techniques, the study identifies four key areas for improvement: staff size and skills, location of centers and clinics, patient incentives, and patient transportation. A specific focus is placed on transportation, directly tied to addressing patient needs. Three transportation systems were evaluated, including the Mobile Medical Clinic (trailer type), which demonstrated lower operating costs compared to the existing system and an alternative door-to-door service. The Mobile Medical Unit is recommended …

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Towards A Research And Development Management Game, Alfred R. Michenzi Dec 1968

Towards A Research And Development Management Game, Alfred R. Michenzi

Research Reports from the Department of Operations

The major emphasis of this report is to outline some general attributes for an R & D management game. The attributes stress realism and interaction of decisions as a good way of making a successful educational experience out of playing the game. Examples of two organizations actively working in R & D management training are included.

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On A Computer-Aided Systems Approach To Personnel Administration, Arnold Reisman, Martin I. Taft Dec 1968

On A Computer-Aided Systems Approach To Personnel Administration, Arnold Reisman, Martin I. Taft

Research Reports from the Department of Operations

A systematic evaluation methodology has been developed which integrates some major concepts from value, utility, decision, subjective probability theories and the Delphi method for obtaining a consensus of opinions. These theories are applied to the process of evaluation of personnel for recruitment, promotions, merit raises, transfer, salary administration, training and development. The model requires and utilizes as inputs explicitly stated sets of long-range goals, short-range objectives, resource needs, evaluative criteria, weighting and utility functions, as well as the subjective judgments of appropriate evaluators. The processing of this information may be implemented by manual calculations, batch processing on an IBM 1620 …

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Mathematical And Computational Approaches To Some Queueing Processes Arising In Surgery, Augustine O. Esogbue Nov 1968

Mathematical And Computational Approaches To Some Queueing Processes Arising In Surgery, Augustine O. Esogbue

Research Reports from the Department of Operations

Queueing theory has been applied to study congestion problems arising in industrial and economic systems. The method can be profitably used to analyze similar problems in hospital systems. To apply queueing theory to the study and design of allocation processes arising in surgery, we resort to some mathematical artifice. Recursive equations are developed for the generation, via the digital computer, of transition probabilities of a service facility with n service channels. Cases considered include a system with no waiting tolerated (emergencies), a finite waiting line L, and a parallel input stream consisting of both emergencies and scheduled cases. The development …

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Use Of Queueing Theory In Studying Research And Development Project Flow, Jon L. Bushnell Oct 1968

Use Of Queueing Theory In Studying Research And Development Project Flow, Jon L. Bushnell

Research Reports from the Department of Operations

This study explores the potential applications of queueing theory to research and development (R&D) operations, drawing parallels between projects in an R&D facility and customers in a traditional queueing system. Projects are accepted, assigned to researchers or queued for future scheduling, and ultimately completed. The research focuses on determining the applicability of established queueing theory techniques rather than developing new methods. To assess feasibility, mathematical models were constructed to represent the system in an idealized manner, requiring identification of key parameters, system characteristics, and performance metrics. The study addresses critical questions, including which queueing models can describe the system, how …

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Programming In Markov Processes, Richard V. Evans Oct 1968

Programming In Markov Processes, Richard V. Evans

Research Reports from the Department of Operations

This paper is concerned with optimization problems which arise when one considers the design and control of systems whose basic behavior follows a Markov law. Of crucial importance is the elementary design problem which contrasted with the elementary control problem by examination of their linear programming formulations. Only linear programming formulations seem able to provide significant comparisons at the moment. Unfortunately the linear programming version of the design problem is not appealing from a computational point of view and alternative algorithms are badly needed.

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Programming Problems And Changes In The Stable Behavior Of A Class Of Markov Chains, Richard V. Evans Oct 1968

Programming Problems And Changes In The Stable Behavior Of A Class Of Markov Chains, Richard V. Evans

Research Reports from the Department of Operations

This paper develops expressions for the derivatives with respect to a parameter u of the stable probabilities of a class of Markov Chains whose transition matrices are of the form Q + PW. These expressions lead to iterative schemes for calculation which in term suggest gradient algorithms for finding locally optimal chains.

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Queueing Systems With First-Order Dependence, U. Narayan Bhat Oct 1968

Queueing Systems With First-Order Dependence, U. Narayan Bhat

Research Reports from the Department of Operations

This paper reviews the historical evolution and current state of queuing theory, tracing its development over six decades. Two periods of peak activity are highlighted: the 1930s, which saw the introduction of foundational analytical methods and queue disciplines for modeling realistic systems, and the 1950s–1960s, marked by the rapid growth of the field and the development of advanced techniques for analyzing finite-time and steady-state systems. Recent years have seen a slowdown in research activity due to the completion of studies on simpler systems and a shift in focus among theoretical and applied scientists. The authors argue that the remaining challenges …

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Group Research As An Educational Tool, Burton V. Dean Oct 1968

Group Research As An Educational Tool, Burton V. Dean

Research Reports from the Department of Operations

Educational systems are undergoing rapid changes to meet society's needs for highly educated and creative individuals. College grades, in themselves, are not useful in predicting future success in technical based organizations. Reducing the age of initial contributions of creative individuals would increase total productivity over a lifetime by as much as five percent per year. An analysis of educational and behavioral research studies indicates that group research in educational institutions would reduce competition for grades, on an individual basis, tend to increase the development of creativity, and produce original contributions of a high quality at an early age. A group …

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Resource Allocation To Interrelated R & D Activities, Milton E.F. Schoeman Sep 1968

Resource Allocation To Interrelated R & D Activities, Milton E.F. Schoeman

Research Reports from the Department of Operations

The organizational problem of allocating resources to systems, components, and projects in an R&D network with interrelated elements is investigated. Four mathematical programming models are formulated and analyzed - two static and two dynamic. Essentially, the distinction between the models is based on the assumptions made concerning the nature of the network interrelationships and the form of the project cost-risk functions. Extensive use is made of concepts and developments in convex programming, integer linear programming and dynamic programming. Attention in each case is directed both towards a characterization of the optimal budgeting strategy and towards the construction of an algorithm …

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Multiple R And D Project Scheduling With Limited Resources, Burton D. Corwin Sep 1968

Multiple R And D Project Scheduling With Limited Resources, Burton D. Corwin

Research Reports from the Department of Operations

This article considers the application of a heuristic scheduling model for multiple project scheduling with limited resources to R and D projects. The basic operation of the model and its underlying heuristics are described. The use of this scheduling model for multiple R and D project scheduling is discussed.

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A Mathematical Theory For The Exploitation And Control Of Biological Populations, Stuart H. Mann Aug 1968

A Mathematical Theory For The Exploitation And Control Of Biological Populations, Stuart H. Mann

Research Reports from the Department of Operations

Three types of biological populations are considered in which members of the population are harvested either for their own value or to protect the value of another element of the ecosystem. A revenue and cost structure is defined for each of these systems and population growth rates are assumed to be random variables. Operating policies are described that maximize the expected economic gain to be realized, in the duration of time during which management of the system is anticipated.

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Queueing Systems With Balking And Heterogeneous Servers, Vijendra P. Singh Aug 1968

Queueing Systems With Balking And Heterogeneous Servers, Vijendra P. Singh

Research Reports from the Department of Operations

A Markovian queueing system with balking and the heterogeneous servers, where the service rates are arranged in a decreasing sequence, is first studied. Conditions which show the efficiency of the heterogeneous systems and the optimal sequences of the service rates which yield the minimum values of the average characteristics of the heterogeneous system are found in two and three server cases. Various tables and graphs representing the average characteristics of both the homogeneous and the heterogeneous systems are given. The case where service depends upon queue length and there is a cost associated with both the servers and the waiting …

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The Design Of Markovian Congestion Systems, Hillel Jeremy Kumin Aug 1968

The Design Of Markovian Congestion Systems, Hillel Jeremy Kumin

Research Reports from the Department of Operations

An algorithm is proposed for the design of a class of Markovian congestion systems. The class is characterized by almost triangular transition matrices. A feature of the algorithm is that it does not utilize closed-form expressions for the steady-state behavior of the system. Convergence is discussed, and the results of numerical experimentation are provided. A behavioral result is also obtained for this class of systems.

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Primal Decomposition Of Mathematical Programs By Resource Allocation, Gary Jay Silverman Aug 1968

Primal Decomposition Of Mathematical Programs By Resource Allocation, Gary Jay Silverman

Research Reports from the Department of Operations

A new method to solve convex separable programs is developed; with the added consideration of having a feasible solution available at all times. This is done in a context of resource allocation where the optimal return from any given allocation is made a function of the amount of resource allocated. The main research problem involves the properties of this function, which is not generally differentiable, and its directional derivatives. These are explored and a method is constructed using their properties. A linear program called the reallocation problem provides either optimality conditions or a best direction in which to reallocate at …

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Allocation Of Resources For Basic Research In A Mission Oriented Governmental Agency, Burton V. Dean, Samuel J. Mantel Jr., Melvin Brown, Donald C. Friedel, David Huettner Aug 1968

Allocation Of Resources For Basic Research In A Mission Oriented Governmental Agency, Burton V. Dean, Samuel J. Mantel Jr., Melvin Brown, Donald C. Friedel, David Huettner

Research Reports from the Department of Operations

A study is made of the process by which basic research is funded in a mission-oriented agency of the federal government, with particular attention to the Office of Naval Research. To provide a rationale for improved funding procedures, a model is developed to associate a value with a research portfolio. Two models are developed, the first in the case where funding is made on the basis of supporting science per se, the second corresponds to the case where funding is made on the basis of mission-relatedness. An optimum portfolio would maximize the combined value of mission oriented and science oriented …

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Optimality Of (S,S) Policies When Setup Costs Vary, Richard V. Evans Aug 1968

Optimality Of (S,S) Policies When Setup Costs Vary, Richard V. Evans

Research Reports from the Department of Operations

This paper considers several analyses of the dynamic programming problem associated with an inventory system in which there is a setup cost which is a decreasing function of the inventory before ordering. Conditions are given under which the optimal policy is of the (s,S) form.

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Operations Research In R & D Management, Burton V. Dean Aug 1968

Operations Research In R & D Management, Burton V. Dean

Research Reports from the Department of Operations

This paper has indicated the impact and growth of R&D in our national economy and in our industrial organizations. The concept of R & D as a managed, productive process responsible for the application of science and technology to achieve economic goals of the firm, has provided an impetus for development of an R&D management science.

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A Controlled Transportation Queueing Process, U. Narayan Bhat Jul 1968

A Controlled Transportation Queueing Process, U. Narayan Bhat

Research Reports from the Department of Operations

A transportation queueing process in which taxis arrive in a Poisson process and customers arrive as a renewal process independent of taxi-arrival process is controlled by calling extra taxis whenever the total number of customers lost to the system reaches a certain predetermined number. Transient and steady state behavior of this process is studied using renewal theoretic arguments. The optimum value of the control variable is also obtained so as to minimize the total cost to the system due to the waiting taxis and lost customers.

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On The Budget Decrement Problem, T.S. Chidambaram Jul 1968

On The Budget Decrement Problem, T.S. Chidambaram

Research Reports from the Department of Operations

A model for dealing with the Army budget decrement problem is proposed. A simple algorithm is developed based on the assumption that the original allocation is optimal. Kuhn-Tucker theory in non-linear programming is used to show that this algorithm reaches the revised optimal solution in a finite number of iterations.

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R & D Budgeting Allocation For New Product Development, Warren L. Balinsky, Melvin Brown, Donald C. Friedel, Milton E.F. Schoeman Jul 1968

R & D Budgeting Allocation For New Product Development, Warren L. Balinsky, Melvin Brown, Donald C. Friedel, Milton E.F. Schoeman

Research Reports from the Department of Operations

A brief study is made of the problem of budgeting for new product R & D, when a key budgeting decision is whether to perform the necessary research in-house or whether to acquire available research companies with the required capabilities. Three mathematical models are developed, of increasing complexity, and solution techniques are obtained. Several extensions are formulated, as possible suggestions for future studies.

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