Bus 660 t - Study guides, Class notes & Summaries

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.

Problem 16-03:Grear Tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes that the standard deviation is 5000 miles and that tire mileage is normally distributed. To promote the new tire, Grear has offered to refund some money if the tire fails to reach 30,000 miles before the tire needs to be replaced. Specifically, for tires with a lifetime below 30,000 miles, Grear will refund a customer Si per 100 miles short of 30,000. a. Fo...

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 660Topic 5 DQ 1 and DQ 2: DQ 1: Models that pertain to the distribution of a resource within supply chains are often referred to as networks. Distribution among these networks is key to the success of a business while also keeping cost production at a minimum. Discuss at least three ways that linear optimization models can be applied to both physical as well as abstract network problems to increase efficiency in supply chain management. DQ 2: Solving shortest-route problems enables a busin...

BUS 660Topic 2 DQ 1 & DQ 2 DQ 1: Discuss the strategic importance of forecasting at your organization (or in one with which you are familiar). Provide two examples of ways that forecasting could improve organizational processes or strategic decisions. Support your rationale with evidence from the readings or external research. DQ 2: Explain how error measures can help to optimize moving averages, weighted moving averages, and exponential smoothing methods.

BUS 660 Topic 7 Waiting Line Models - Homework

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 3 Introduction to Linear Programming - Homework

BUS 660 Topic 5 Linear Programming Distribution and Network Models - 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...