Identify a situation in an organization of your choice in which intrinsic forecasting would be most
appropriate, and another in which extrinsic forecasting would be most appropriate. Explain what it is
about each situation that calls for the particular ap
Discuss the role of each in project management:
The Gantt chart, devised in the mid 1890s, allows tasks to be grouped into
categories, where each category can be treated as a summary task whose duration spans all
the tasks within that category. T
Conduct Internet research of the types of customer applications that are used for handling linear
programming problems. Search the Web sites of software vendors for an example that interests you,
then describe this customer application in this discussion.
1. What are the chances of getting 15 days of rain during the next 30 days?
The chances of getting 15 days of rain during the next 30 days is approximately 1.057%.
Using the binomial distribution, where r = 15, n = 30, p = .7, and q =
What technique(s) should the TNH forecasting department use to produce forecasts that would support
The Nerd Herd (TNH) is looking for further expansion opportunities, and is considering whether
to expand by opening offices in several lar
Discuss the role of sensitivity analysis in linear programming (LP). Describe an example of an LP problem
in which sensitivity analysis would be important and explain why.
According to Render et al. (2015), Linear programming (LP) is a widely used mathema
Think of an example of a mathematical model that would be relevant to a decision situation in your
organizational environment (or an organizational environment of your choosing). What input data would
be needed for this model and where would it be obtaine
What are the differences between decision-making under risk and decision-making under uncertainty?
Provide an example of each type of decision situation you have experienced in your organization (or in
an organization of your choice).
Develop a recommendation for that individual, including an explanation of why your recommendation is the
correct option for him or her.
This is a decision making under uncertainty example.
There are two events:
1. Favorable market
2. Unfavorable market
Use an example from your own organization or conduct an Internet search to identify a business
situation in which PERT and/or CPM methodology was used or would be most appropriate. Explain what
it is about the situation that calls for the particular appro