311_session_20_review_hiroshi

311_session_20_review_hiroshi - – Capacity/utilization...

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1 Review BUAD311 Session 20 Hiroshi Ochiumi
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2 Objectives Concepts review Question & Answer
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3 Session # 13 Psychology of waiting-lines Laws Principles Examples Factors that impact the waiting performance Variability and Uncertainty Utilization Rate Risk Pooling Effect
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4 Session # 14 Waiting line classifications Five characteristics General approximation formulas Average #Customers Waiting in Line Average #Customers Waiting in the System Average Waiting Time in Line Average Waiting Time in the System
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5 Session # 15 Simulation Generate random variable Portfolio optimization New Product development Waiting lines
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6 Session # 16 West Coast University Student Health Services What is the major tradeoff on team design? Smaller team, more personal service Larger team, shorter waiting time, why? How do we approach the case?
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Unformatted text preview: – Capacity/utilization rate calculation – Allocation/schedule 7 Session # 17 Revenue Management Overview Draw a decision tree – Two types of node Practice solving decision trees Example on delaying decisions to collect information 8 Session # 18 Basic Revenue Management – Market Segmentation • How to set price in order to maximize revenue. – Capacity Control • How to determine the optimum number of discounted items to sell before holding back in the hope of selling an item at full-fare. – Overbook • How to set overbooking limits. Session #19 Guest Lecture 9 10 Exam 2 Format similar to Exam1 Covers only post-exam1 materials Closed book/notes One double-sided crib sheet is allowed Bring your calculator No laptops No cellphones 1 hour 40 minutes...
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