Operations Management
Process Analysis
Processes
Process Mapping
Process Flow Measures
Littles Law
Variability
1
What is Operations?
Inputs
Buy
Make/create
Move
Sell
Outputs
Move
The Transformation of Inputs into Outputs
2
Inputs and Outputs
INPUTS
Capita
MGM200
Analysis for Decision and Control
Sample Questions for the Final Exam
Last Update: November 25, 2013
Problem 1
1.
Find the feasible region and optimum solution for this linear programming
model, using the graphical method. What is the maximum profi
Product
 all 
Region
East
North
South
West
Total Result
Average  Amount
$41.86
$32.48
$42.94
$38.08
$38.83
Product
Payment
Credit
Paypal
Total Result
 all Data
Count  Payment
Average  Amount
322
$39.42
188
$37.81
510
$38.83
Time Of Day
0:00
1:01
2:0
DEPARTMENT OF MANAGEMENT
UNIVERSITY OF TORONTO MISSISSAUGA
MGM200H5F LEC0101
Analysis for Decision and Control
Course Outline  Fall 2013
Class Location & Time
Instructor
Office Location
Office Hours
Email Address
Course Web Site
Tue, 11:00 AM  01:00 PM
Decision Analysis I
1
Decision Analysis
An analytic and systematic approach to decision making
In this chapter: under uncertain environment (i.e.,
decision maker doesnt know which event will occur in
the future)
Considers all the possible alternatives and
MGM200:
Analysis for Decision and Control
A variety of techniques for analyzing data for the
purposes of decision and control. Topics covered
include mathematical modeling, decision analysis
and operations management.
1
Chapter 1
Introduction
Problem Solv
MGM200:
Analysis for Decision and Control
A variety of techniques for analyzing data for the
purposes of decision and control. Topics covered
include mathematical modeling, decision analysis
and operations management.
1
Administrative Issues
Getting to kn
Finance
The Basics
1
Topics
Definitions
The cycle of money, the participants in the cycle, and the
common objective of borrowing and lending.
Calculate future values and understand compounding.
Calculate present values and understand discounting.
Calculat
MGM200
Analysis for Decision and Control
Problem 1
1. Optimum point x1 = 10, x2 = 5 Max Profit = 115
1
MGM200
Analysis for Decision and Control
2. Optimum point x1 = 4, x2 = 2 Min Cost = 44
2
MGM200
Analysis for Decision and Control
3.1 Infeasible No solu
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UNIVERSITY OF TORONTO MISSISSAUGA
DECEMBER 2011 FINAL EXAMINATION
MGM200HSF
Analysis for Decision and Control
Gerhard Trippen
Duration  3
Decision Analysis II
1
Decision Trees
A decision tree can be used instead of a table to
show alternatives, outcomes, and payoffs
A decision tree consists of nodes and arcs
= decision node; = outcome node
Arcs (lines) indicates decision alternatives or o
1.) Capital Budgeting Methods Project S has a cost of $10,000 and is expected to
produce benefits (cash flows) of $3,000 per year for 5 years. Project L costs $25,000
and is expected to produce cash flows of $7,400 per year for 5 years. Calculate the two
Operations Management
Queuing
1
Queuing at Disney World (video)
On average 200,000 visitors per day
Objective: Maximize Customer Satisfaction
Important issue: reduce time spent in queues
What were the 3 initiatives that Disney implemented
to reduce the t
Marketing
Using Data to Make Better Decisions
1
Introduction
Important decisions are made in business every
day
Which candidate should be hired?
Should a new product be launched?
Why do we use data to make decisions?
Using data to make decisions is be
Linear Programming
1
What is Linear Programming (LP)?
A process of transforming a real world problem
into a mathematical model
The most widely used modeling technique
designed to help managers in planning and
decision making
A deterministic modeling techn
Marketing
How NOT to Use Data
1
How to Lie with Statistics
By Darrell Huff
Pictures by Irving Geis
2
How to Lie with Statistics
National Income increased 10% in a year
3
How to Lie with Statistics
Did it double in the next year?
4
How to Lie with Statist
Introduction to Probability
Experiments, Counting Rules,
and Assigning Probabilities
Events and Their Probability
Some Basic
Relationships
of Probability
Conditional Probability
Bayes Theorem
1
Probability as a Numerical Measure
of the Likelihood of Occur
Finance
Capital Budgeting
Decision Models
1
Learning Objectives
1.
2.
3.
4.
5.
6.
Explain capital budgeting and differentiate between shortterm and
longterm budgeting decisions.
Explain the payback model and its two significant weaknesses and how
the di