Bus660 Full Course All Discussions and All Week Assignments but No Week 8
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Present an example of a business situation that you believe would lend itself to the use of a quantitative business model. Clearly explain how the model could be used in this situation. grand canyon
Multiple models are often used in supporting business decision making. Why might this be the case and what factors may dictate the need for multiple models?
Which business functions are more likely to use decision analysis models than others, and why?
What are some inherent challenges in using decision trees effectively in today's organizations? How can …show more content…
Refer to "Forecasting Practices in U.S. Corporations: Survey Results." Which point was most interesting and why?
Which business functions are more likely to use optimization models than others and why?
Using the GCU Library and/or Internet resources, find an example of a linear optimization model used in industry. Describe which industry it is or was used in and briefly discuss the problem or challenge it addressed.
Provide one example each of a workforce scheduling, a blending, and a logistics linear optimization problem not discussed in the the textbook. What is being optimized in each of your examples and why
Explain the importance of correctly stating the objective function and constraints in linear optimization problems. Provide a few examples of the problems that could result if the objective function and constraints are not stated properly. Why would these problems arise?
What key factors of a business situation indicate the need for simulation (versus the other modeling techniques covered in the course)?
Describe the key differences between simulation models and the models covered in previous modules, not only from the perspective of their applications, but also from the perspective of computing/solving the models.
Refer to "Competing on Analytics."
Write an essay of 1,500-2,000 words that addresses the following: