INSEAD Library

Includes bibliographical references

Digitized

Study Guide for Winston and Albright's Practical Management Science Contents 1 Introduction to Modeling 3 1.1 Some Definitions and Management Science Modeling Process ......................................................... 3 1.2 Summary................................................................................................................................................. 2 Spreadsheet Modeling 7 2.1 Important Terminology, Key Concepts, and Excel Features and Functions ...................................... 7 2.2 Examples............................................................................................................................................ 10 2.3 Summary............................................................................................................................................ 20 3 Linear Programming 3.1 Important Terminology and Key Concepts ....................................................................................... 3.2 Examples............................................................................................................................................ 3.3 Summary............................................................................................................................................ 4 Linear Programming Models 4.1 Some Terminology and Concepts...................................................................................................... 4.2 Examples............................................................................................................................................ 4.3 Summary............................................................................................................................................ 5 Network Models 5.1 Some Terminology and Network Formulations in Words................................................................. 5.2 Examples............................................................................................................................................ 5.3 Summary............................................................................................................................................ 6 Linear Optimization Models With Integer Variables 6.1 Some Terminology and Concepts...................................................................................................... 6.2 Examples............................................................................................................................................ 6.3 Summary............................................................................................................................................ 7 Nonlinear Optimization Models 7.1 Important Terminology and Concepts............................................................................................... 7.2 Examples............................................................................................................................................ 7.3 Summary............................................................................................................................................ 8 Evolutionary Solver--An Alternative Optimization Procedure 8.1 Some Terminology and Concepts ..................................................................................................... 8.2 Examples............................................................................................................................................ 8.3 Summary............................................................................................................................................ 9 Multi-Objective Decision Making 9.1 Basic Concepts and Terminology.................................................................................................... 9.2 Examples ......................................................................................................................................... 9.3 Summary.......................................................................................................................................... 21 21 24 33 34 34 35 50 51 51 55 66 67 67 69 81 82 82 84 90 91 91 95 99 6 100 100 102 108 10 Decision Making Under Uncertainty 109 10.1 Basic Concepts and Terminology.................................................................................................. 109 10.2 Examples ....................................................................................................................................... 113 10.3 Summary........................................................................................................................................ 119 11 Introduction to Simulation Modeling 120 11.1 Simulation Concepts and Spreadsheet Modeling........................................................................... 120 11.2 Examples........................................................................................................................................ 124 11.3 Summary........................................................................................................................................ 129 12 Simulation Models 130 12.1 Some @Risk Functions, Using TopRank....................................................................................... 130 12.2 Examples ....................................................................................................................................... 131 12.3 Summary........................................................................................................................................ 137 13 Inventory Models 138 13.1 Important Terminology and Concepts .......................................................................................... 138 13.2 Examples........................................................................................................................................ 144 13.3 Summary........................................................................................................................................ 150 14 Queueing Models 151 14.1 Basic Elements and Concepts of Queueing Models...................................................................... 151 14.2 Examples........................................................................................................................................ 155 14.3 Summary........................................................................................................................................ 161 15 Regression Analysis 162 15.1 Important Concepts, Defmitions, and Formulas............................................................................ 162 15.2 Examples ....................................................................................................................................... 166 15.3 Summary........................................................................................................................................ 175 16 Time Series Analysis and Forecasting 176 16.1 Basic Concepts, Formulas, and Terminology................................................................................ 176 16.2 Examples........................................................................................................................................ 181 16.3 Summary........................................................................................................................................ 186