Bus 660 topic Study guides, Class notes & Summaries

1. Question:Which of the methods for decision making best protects the decision maker from undesirable results? 2. Question:If there is a maximum of 4,000 hours of labor available per month and 300 ping-pong balls (xi) or 125 wiffle balls (x?) can be produced per hour of labor, which of the following constraints reflects this situation? 3. Question:Problem 4-05 (Algorithmic) In American football, touchdowns are worth 6 points. After scoring a touchdown, the scoring team may subsequently attemp...

Bus 660 Topic 6 DQ 1 and DQ 2 DQ 1: Create a simple 0, 1 integer model for a situation or problem you face in your life. Is there an optimal solution for your problem? What type of model would you use to create an optimal solution? Explain. DQ 2: Think about your own retirement investment portfolio or find an example of one online. Discuss how you might use a model to create the optimum portfolio allocation for your risk level.

BUS 660 - Topic 3 DQ 1 & DQ 2 DQ 1: Identify two key strategic decisions made by your current team, department, or organization. How could those decisions have been enhanced by optimization models? Support your rationale with evidence from readings or external research. DQ 2: Find a current example of a linear optimization model used in your industry. Describe the industry’s needs, including any unique factors, how the linear optimization model was used, and the problem or challenge it addre...

BUS 660 Topic 7 Waiting Line Models - Homework Grand Canyon

Bus 660 Topic 8 DQ 1 & DQ 2 DQ 1: Describe a current problem facing your department, organization, or industry that would indicate the need for a simulation model. How best would this problem be solved by simulation versus the other modeling techniques covered in the course? Support your response with rationale from the readings. DQ 2: Consider some of the examples you have brought up in earlier discussion forums about applying models to real-world problems. Choose one of the models covered ea...

BUS 660 Topic 6 Integer Linear Programming and Advanced Optimization Applications - Homework (v2).docx

BUS 660 Topic 7 Waiting Line Models - Homework

Problem 6-09: With the gasoline time series data from the given table, show the exponential smoothing forecasts using a = 0.1. a. Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of a = 0.1 or a = 0.2 for the gasoline sales time series? Do not round your interim computations and round your final answers to three decimal places. b. Are the results the same if you app y MAE as the measure of accuracy? Do not round your interim computations and round your fina...

BUS 660 Topic 3 Introduction to Linear Programming - Homework

Problem 10-05: Premier Consulting’s two consultants, Avery and Baker, can be scheduled to work for clients up to a maximum of 160 hours each over the next four weeks. A third consultant, Campbell, has some administrative assignments already planned and is available for clients up to a maximum of 140 hours over the next four weeks. The company has four clients with projects in process. The estimated hourly requirements for each of the clients over the four-week period are as follows: Hourly ra...