Practical Management Science 4th Edition by Wayne L Winston, Tammy Powley, Wayne Winston, S Christian Albright, S Albright – Ebook PDF Instant Download/Delivery: 1133387764, 9781133387763
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Product details:
ISBN 10: 1133387764
ISBN 13: 9781133387763
Author: Wayne L Winston, Tammy Powley, Wayne Winston, S Christian Albright, S Albright
This text takes an active-learning approach, providing numerous examples and problems so students can practice extensively with a concept before moving on. Four types of problems–skill-building, skill-extending, modeling, and cases–are graded within sections and chapters to help instructors assign homework. Another important feature is the way that the text integrates modeling into all functional areas of business: finance, marketing, operations management using real examples and real data. The text emphasizes modeling over algebraic formulations and memorization of particular models. Shell files are also provided so that instructors can give students as much or as little information as they need. This edition has been revised to be compatible with Excel 2010 and the corresponding add-ins for Excel 2010.
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Sample questions asked in the 4th edition of Practical Management Science:
Simple exponential smoothing with ? = 0.3 is being used to forecast sales of digital cameras at Lowland Appliance. Forecasts are made on a monthly basis. After August camera sales are observed, the forecast for September is 100 cameras. a. During September, 120 cameras are sold. After observing September sales, what do you forecast for October camera sales? For November camera sales? b. June sales were recorded as 10 cameras; however, 100 cameras were actually sold in June. After correcting for this error, develop a forecast for October camera sales.
In the SciTools example, use a two-way data table to see how (or whether) the optimal decision changes as the bid cost and the company’s production cost change simultaneously. Let the bid cost vary from $2000 to $8000 in increments of $1000, and let the production cost vary from $90,000 to $105,000 in increments of $2500. Explain your results.
A sweatshirt supplier is trying to decide how many sweatshirts to print for the upcoming NCAA basketball championships. The final four teams have emerged from the quarterfinal round, and there is now a week left until the semifinals, which are then followed in a couple of days by the finals. Each sweatshirt costs $10 to produce and sells for $25. However, in three weeks, any leftover sweatshirts will be put on sale for half price, $12.50. The supplier assumes that the demand for his sweatshirts during the next three weeks (when interest in the tournament is at its highest) has the distribution shown in the file P10_14.xlsx. The residual demand, after the sweatshirts have been put on sale, has the distribution also shown in this file. The supplier, being a profit maximizer, realizes that every sweatshirt sold, even at the sale price, yields a profit. However, he also realizes that any sweatshirts produced but not sold (even at the sale price) must be thrown away, resulting in a $10 loss per sweatshirt. Analyze the supplier’s problem with a simulation model.
Practical Management Science 4th Table of contents:
Chapter1 : Introduction
Chapter 2: Content
Chapter 3: Conclusion
Chapter 4: Appendices
Chapter 5: Glossary
Chapter 6: References
Chapter 7: Index
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