Introduction to Management Science and Business Analytics: A Modeling and Case Studies Approach with Spreadsheets, 7th Edition

Cover
Half Title
Title
Copyright
Dedication
About the Authors
About the Case Writers
Preface
Acknowledgments
Brief Contents
Contents
PART 1 The Essence of Management Science and Business Analytics
    Chapter 1: Introduction
        1.1 The Nature of Management Science
        1.2 What is Business Analytics?
        1.3 The Relationship Between Management Science and Business Analytics
        1.4 A Case Study: The VRX Company Advertising Budget Problem
        1.5 The Impact of Management Science and Business Analytics
        1.6 Some Special Features of This Book
        1.7 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problem
        Problems
        Case 1-1 VRX Revisited: Updating the Model with New Data Over Time
    Chapter 2: Overview of the Analysis Process
        2.1 A Case Study: First Bank Evaluates Applications for Unsecured Loans
        2.2 Define the Problem
        2.3 Performing Descriptive Analytics
        2.4 Performing Predictive Analytics
        2.5 Performing Prescriptive Analytics
        2.6 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 2-1 Vacations at Vegas Villas
PART 2 Models for Predictive Analytics
    Chapter 3: Classification and Prediction Models for Predictive Analytics
        3.1 A Case Study: The Evergreen Solar Predictive Analytics Problem
        3.2 Models Based on The k-Nearest-Neighbors (KNN) Algorithm
        3.3 Models Based on Classification Tree and Regression Tree Algorithms
        3.4 Other Models Based on Algorithms for Classification and Prediction
        3.5 Revisiting the Case Study: Refining and Testing the Models
        3.6 Affinity Analysis and Recommendation Systems
        3.7 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 3-1 Evergreen Solar Decides to Use Naïve Bayes
        Case 3-2 Revisiting Vacations at Vegas Villas
    Chapter 4: Predictive Analytics Based on Traditional Forecasting Methods
        4.1 An Overview of the Techniques of Time Series Forecasting
        4.2 A Case Study: The Computer Club Warehouse (CCW) Problem
        4.3 Applying Time Series Forecasting Methods To the Case Study
        4.4 The Time Series Forecasting Methods In Perspective
        4.5 Causal Forecasting with Linear Regression
        4.6 Judgmental Forecasting Methods
        4.7 Summary
        Glossary
        Summary of Key Formulas
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 4-1 Finagling the Forecasts
PART 3 Using Linear Programming to Perform Prescriptive Analytics
    Chapter 5: Linear Programming: Basic Concepts
        5.1 A Case Study: The Wyndor Glass Co. Product-Mix Problem
        5.2 Formulating the Wyndor Problem on a Spreadsheet
        5.3 The Mathematical Model in the Spreadsheet
        5.4 The Graphical Method for Solving Two-Variable Problems
        5.5 Using Excel’s Solver to Solve Linear Programming Problems
        5.6 Analytic Solver
        5.7 A Minimization Example—The Profit & Gambit Co. Advertising-Mix Problem
        5.8 Linear Programming From a Broader Perspective
        5.9 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 5-1 Auto Assembly
        Case 5-2 Cutting Cafeteria Costs
        Case 5-3 Staffing a Call Center
    Chapter 6: Linear Programming: Formulation and Applications
        6.1 A Case Study: The Super Grain Corp. Advertising-Mix Problem
        6.2 Resource-Allocation Problems
        6.3 Cost–Benefit–Trade-Off Problems
        6.4 Mixed Problems
        6.5 Transportation Problems
        6.6 Assignment Problems
        6.7 Model Formulation From a Broader Perspective
        6.8 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 6-1 Shipping Wood to Market
        Case 6-2 Capacity Concerns
        Case 6-3 Fabrics and Fall Fashions
        Case 6-4 New Frontiers
        Case 6-5 Assigning Students to Schools
        Case 6-6 Reclaiming Solid Wastes
        Case 6-7 Project Pickings
    Chapter 7: The Art of Modeling with Spreadsheets
        7.1 A Case Study: The Everglade Golden Years Company Cash Flow Problem
        7.2 Overview of the Process of Modeling with Spreadsheets
        7.3 Some Guidelines for Building “Good” Spreadsheet Models
        7.4 Debugging a Spreadsheet Model
        7.5 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problem
        Problems
        Case 7-1 Prudent Provisions for Pensions
    Chapter 8: What-If Analysis for Linear Programming
        8.1 The Importance of What-if Analysis to Managers
        8.2 Continuing the Wyndor Case Study
        8.3 The Effect of Changes in One Objective Function Coefficient
        8.4 The Effect of Simultaneous Changes in Objective Function Coefficients
        8.5 The Effect of Single Changes In a Constraint
        8.6 The Effect of Simultaneous Changes in the Constraints
        8.7 Robust Optimization
        8.8 Chance Constraints with Analytic Solver
        8.9 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problem
        Problems
        Case 8-1 Selling Soap
        Case 8-2 Controlling Air Pollution
        Case 8-3 Farm Management
        Case 8-4 Assigning Students to Schools (Revisited)
    Chapter 9: Network Optimization Problems
        9.1 Minimum-Cost Flow Problems
        9.2 A Case Study: The BMZ Co. Maximum Flow Problem
        9.3 Maximum Flow Problems
        9.4 Shortest Path Problems
        9.5 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 9-1 Aiding Allies
        Case 9-2 Money in Motion
        Case 9-3 Airline Scheduling
        Case 9-4 Broadcasting the Olympic Games
PART 4 Using Integer or Nonlinear Programming to Perform Prescriptive Analytics
    Chapter 10: Integer Programming
        10.1 The Nature of Integer Programming
        10.2 A Case Study: The California Manufacturing Co. Problem
        10.3 Using BIP for Project Selection: The Tazer Corp. Problem
        10.4 Using BIP for the Selection of Sites for Emergency Services Facilities: The Caliente City Problem
        10.5 Using BIP for Crew Scheduling: The Southwestern Airways Problem
        10.6 Using Mixed BIP to Deal with Setup Costs for Initiating Production: The Revised Wyndor Problem
        10.7 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 10-1 Assigning Art
        Case 10-2 Stocking Sets
        Case 10-3 Assigning Students to Schools (Revisited)
        Case 10-4 Broadcasting the Olympic Games (Revisited)
    Chapter 11: Nonlinear Programming
        11.1 The Challenges of Nonlinear Programming
        11.2 Continuing the Wyndor Case Study to Deal with Decreasing Marginal Returns
        11.3 Applying Nonlinear Programming to Portfolio Selection
        11.4 Separable Programming
        11.5 Difficult Nonlinear Programming Problems
        11.6 Evolutionary Solver and Genetic Algorithms
        11.7 Using Analytic Solver to Analyze a Model and Choose a Solving Method
        11.8 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problem
        Problems
        Case 11-1 Continuation of the Super Grain Case Study
        Case 11-2 Savvy Stock Selection
        Case 11-3 International Investments
PART 5 Traditional Uncertainty Models for Performing Predictive or Prescriptive Analytics
    Chapter 12: Decision Analysis
        12.1 A Case Study: The Goferbroke Company Problem
        12.2 Decision Criteria
        12.3 Decision Trees
        12.4 Sensitivity Analysis with Decision Trees
        12.5 Checking Whether to Obtain More Information
        12.6 Using New Information to Update the Probabilities
        12.7 Using a Decision Tree to Analyze the Problem with a Sequence of Decisions
        12.8 Performing Sensitivity Analysis on the Problem with a Sequence of Decisions
        12.9 Using Utilities to Better Reflect the Values of Payoffs
        12.10 The Practical Application of Decision Analysis
        12.11 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problems
        Problems
        Case 12-1 Who Wants to Be a Millionaire?
        Case 12-2 University Toys and the Business Professor Action Figures
        Case 12-3 Brainy Business
        Case 12-4 Smart Steering Support
    Chapter 13: Queueing Models
        13.1 Elements of a Queueing Model
        13.2 Some Examples of Queueing Systems
        13.3 Measures of Performance for Queueing Systems
        13.4 A Case Study: the Dupit Corp. Problem
        13.5 Some Single-Server Queueing Models
        13.6 Some Multiple-Server Queueing Models
        13.7 Priority Queueing Models
        13.8 Some Insights About Designing Queueing Systems
        13.9 Economic Analysis of the Number of Servers to Provide
        13.10 Behavioral Queueing Theory
        13.11 Summary
        Glossary
        Key Symbols
        Learning Aids for This Chapter
        Solved Problem
        Problems
        Case 13-1 Queueing Quandary
        Case 13-2 Reducing In-Process Inventory
    Chapter 14: Computer Simulation: Basic Concepts
        14.1 The Essence of Computer Simulation
        14.2 A Case Study: Herr Cutter’s Barber Shop (Revisited)
        14.3 Analysis of the Case Study
        14.4 Outline of a Major Computer Simulation Study
        14.5 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problem
        Problems
        Case 14-1 Planning Planers
        Case 14-2 Reducing In-Process Inventory (Revisited)
    Chapter 15: Computer Simulation with Analytic Solver
        15.1 A Case Study: Freddie the Newsboy’s Problem
        15.2 Bidding for a Construction Project: A Prelude to the Reliable Construction Co. Case Study
        15.3 Project Management: Revisiting the Reliable Construction Co. Case Study
        15.4 Financial Risk Analysis: Revisiting the Think-Big Development Co. Problem
        15.5 Revenue Management In the Travel Industry
        15.6 Choosing the Right Distribution
        15.7 Decision Making with Parameter Analysis Reports and Trend Charts
        15.8 Optimizing with Computer Simulation Using the Solver in Analytic Solver
        15.9 Summary
        Glossary
        Learning Aids for This Chapter
        Solved Problem
        Problems
        Case 15-1 Action Adventures
        Case 15-2 Pricing under Pressure
        Case 15-3 Financial Planning for Retirement
Appendix A: Tips for Using Microsoft Excel for Modeling
Appendix B: Partial Answers to Selected Problems
Index