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TIØ4120

Optimization and Decision Analytics

Choose study year
Credits 7.5
Level Third-year courses, level III
Course start Autumn 2025
Duration 1 semester
Language of instruction Norwegian
Location Trondheim
Examination arrangement School exam

About

About the course

Course content

The course deals with the use of optimization models and other quantitative methods for planning of corporate and governmental activities. Most of the planning problems will consist of an economic objective which we want to maximize/minimize under scarce resources. Relevant planning problems to be studied include production planning and transportation planning. This course deals with both deterministic and stochastic problems, and they will be analyzed based on the following models and methods: Linear and nonlinear programming, integer programming, network models, decision trees, simple queuing theory and simulation. We will use spreadsheets to find numerical solutions for some of the analyzed problems.

Learning outcome

By the end of the course the students should be able to:

  • define what is meant by the term "operations research", and account for which phases are normally part of a study applying operations research
  • describe the assumptions on which linear programming (LP) is built
  • formulate LP models on the basis of verbal problem descriptions
  • solve LP problems graphically (for two variables), by using spreadsheets, and by hand using the simplex method
  • perform sensitivity analysis and describe the economic information that can be drawn from the analysis
  • formulate integer programming models and solve problems formulated using spreadsheets
  • formulate and solve types of non-linear problems using spreadsheets
  • formulate and solve a number of network models
  • solve certain decision problems under uncertainty with decision trees
  • create and derive formulas for some queueing models
  • describe discrete event simulation and implement simple simulation models in spreadsheets

Learning methods and activities

Lectures and exercises with and without computers.

Compulsory assignments

  • Exercises

Further on evaluation

If there is a re-sit examination, the examination form may change from written to oral.

Course materials

Given at the start of the course.

Credit reductions

Course code Reduction From
SIS1012 7.5 sp
TIØ4115 3.7 sp Autumn 2008
BØA2020 7.5 sp Spring 2017
TIØ4126 3.7 sp Autumn 2018
This course has academic overlap with the courses in the table above. If you take overlapping courses, you will receive a credit reduction in the course where you have the lowest grade. If the grades are the same, the reduction will be applied to the course completed most recently.

Subject areas

  • Technological subjects

Contact information