a) Between the four differing alternatives, there are two sites: X and Y. There is a 45% probability that
site X will be chosen to build the airport, so that implicates that there is a 55% probability that site X will
not be chosen to build on. There is a
Inventory Models
Economic Order Quantity (EOQ) Model
Economic Production Lot Size Model
Inventory Model with Planned Shortages
Quantity Discounts for the EOQ Model
1
Inventory Models
The study of inventory models is concerned with
two basic questions:
Ho
Making Best Decisions in Settings with Low
Uncertainty
A resource allocation example: Zooter Industries
Converting a verbal problem description into an algebraic model:
decisions, objective, constraints
From an algebraic model to a spreadsheet implementat
What is People Analytics?
A data-driven approach to managing people at work.
Analytics, applied to people issues hiring,
performance management, compensation, retention,
etc.
A more rigorous approach to a traditionally soft
function.
A quickly growing
Model
A
1
2
B
Keystone.xlsx
Operations Analytics MOOC
C
D
5
6
7
8
Shipping Cost ($ per ton)
From/To
Los Angeles
Chicago
New York City
Denver
105.00
110.00
130.00
Austin
135.00
140.00
132.00
Washington
153.00
137.00
115.00
9
10
11
12
13
14
15
16
17
F
Total
Making Best Decisions in Settings with Low
Uncertainty
A resource allocation example: Zooter Industries
Converting a verbal problem description into an algebraic model:
Session 1
decisions, objective, constraints
From an algebraic model to a spreadsheet i
Making Best Decisions in Settings with Low
Uncertainty
A resource allocation example: Zooter Industries
Converting a verbal problem description into an algebraic model:
decisions, objective, constraints
From an algebraic model to a spreadsheet implementat
How do you compute
corporate profits?
Emerging Data Sets In Marketing
The Future of Marketing is
Customer Analytics:
Making Profit One Customer
At a Time
Emerging Data Sets In Marketing
What is Customer Analytics?
Customer analytics refers to the collec
Kamal Lamsal
What is Marketing Research?
Marketing Research - links the market to the
firm through information.
Marketing Research - information needed for
actionable decisions.
Marketing Research - principles for
systematically collecting and inter
S E T T I N G T H E S TA G E
Organization:
A public radio station supported primarily by contributions
from its listeners
Challenge:
Looking at listeners histories of whether or not they gave each
year, what can we predict about their future giving
Exponential Smoothing:
Level & Trend Data
Treatment of History
Previous models differed in the amount of history considered,
but were similar in their equal treatment of it.
n
n
Cumulative & Moving Average equal weighting to all observations
Nave all wei
Woof Junction Inc.
Balance Sheet
2011
2012
2013
2014
ASSETS
Cash and Equivalents
Accounts Receivable, Net
Inventory
Other Current Assets
Total Current Assets
Gross PP&E
Accumulated Depreciation
Net PP&E
Intangible Assets
Total Assets
2011
32 $
9
195
23
25
Exponential Smoothing with Holt-Winter Learning Objectives:
Understand how seasonality can be handled within exponential smoothing.
Understand how to initialize a forecast.
Able to apply the techniques to generate forecasts in spreadsheets.
Key Concepts:
Decision Making Under
Risk : Decision Trees
Problem: Jenny Lind
Jenny Lind is a writer of romance novels. A
movie company and a TV network both want
exclusive rights to one of her more popular
works. If she signs with the network, she will
receive a singl
Overview of Using Data: Definitions
Data: The facts and figures collected, analyzed, and summarized
for presentation and interpretation.
Variable: A characteristic or a quantity of interest that can take on
different values.
Exponential Smoothing Learning Objectives:
Understand how exponential smoothing treats old and new information differently.
Understand how changing the alpha or beta smoothing factors influences the forecasts.
Able to apply the techniques to generate fore
Introduction to Demand Forecasting Learning Objectives:
Forecasting is part of the entire Demand Planning and Management process.
There are both subjective and objective methods for forecasting all serve a purpose.
Range forecasts are better than point fo
Quality
Introduction
Quality Introduction
I said that the worst thing about healthcare would be waiting, not true; worst thing are defects
Two dimensions of quality: conformance and performance
Our focus will be on conformance quality
Motivating example:
Homework 1, Kaitlyn Stockemer
1a) There is not a strong linear relationship in sales from January to
May. We know this because the data cannot be represented by a
straight line when plotted on a chart.
1b) See Table 1.
Period
Actual
Amit
Barbara
A Error
B
Homework 2 Statistical Process Control
Due October 5, 2016
1. The following data represents sample data of 6 oz. bottles of after-shave. Develop the Xbar and R control limits for the following sample. Using the Table S6.1 in the textbook on
page 183.
Samp
BU 820 Homework 1
Due 9/18/2016
Homework 1, Kaitlyn Stockemer
1a) There is not a strong linear relationship in sales from January to May. We
know this because the data cannot be represented by a straight line when
plotted on a chart.
1b) See Table 1.
Peri
BU NOTES
CHAPTER 1: (BOOK ONE)
Decision Modeling- A scientific approach to managerial decision making. The development of a model
(usually mathematical) of a real-world problem scenario or environment. Also called quantitative
analysis, management science
Stockemer 1
BU 820 Homework 3
Due 11/12/2016
1a) What is the EOQ?
EOQ = square root of 2DO/H.
= square root of 2*360*100 / 1
= square root of 72000
= 268.33 units
b) Given the above data, and assuming a 300-day work year; how many orders should be process
Problem 9:
We need 1,000 electric drills per year. The ordering cost for these is $100 per order and the carrying cost
is assumed to be 40% of the per unit cost. In orders of less than 120, drills cost $78; for orders of 120 or
more, the cost drops to $50
Review of Financial
Statements
Ratio Analysis:
Case Overview
Ratio Analysis: Dupont
Analysis
Ratio Analysis: Profitability
and Turnover Ratios
Ratio Analysis: Liquidity
Ratios
Forecasting
Accounting-Based Valuation