Practical Management Science: Spreadsheet Modeling and Applications
"Practical Management Science by Wayne Winston and Chris Albright teaches you by example to formulate and solve real problems from finance, marketing, and operations with a spreadsheet. This new spreadsheet modeling approach gives you a powerful set of analytical thinking tools that you can apply not only to your major area of study but ultimately to your professional career." "Spreadsheet modeling and management science provide you with the ability to quantify complex problems and clearly illustrate optimum business decisions. Mastering the concepts introduced in this book will give you deeper insights into your field of study and key advantages in the workplace." --Book Jacket.
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Introduction to Modeling
z Introduction fo Linear Programming 2S 3 Linear Programming Formulations
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activity amount analysis annual Assume average barrels calculate capacity cash changing cells Citgo column compute copy this formula customers decision decision tree demand determine dollars Drugco employees ending inventory enter the formula Equation estimate example expected exponential exponentially distributed forecast fuel function gasoline given in Table goal goal programming heating oil holding cost hospital inputs integer investment labor hours Linear Model linear programming machine management science maximize maximum method minimize month node nonnegative normally distributed objective optimal solution option order quantity ounce output overtime pairwise comparison plant portfolio pound Powerco probability problem production cost profit purchase put option queueing queueing models random numbers range schedule sells setup cost shadow price shortage shown in Figure shown in Table simulation solve Spreadsheet Model standard deviation total cost variable warehouse week workers