Time Schedule:
Mark S. Hillier
QMETH 450
Seattle Campus
Formulation and solution of business problems using operations research techniques in a spreadsheet environment. Techniques of linear and integer programming, decision analysis, network optimization, queuing, and simulation. Applications from marketing, finance, and operations. Prerequisite: I S 300.
Class description
This course covers modeling with spreadsheets for analyzing quantitative aspects of business problems. Spreadsheet packages now have features that allow managers to perform sophisticated quantitative analysis in the comfortable and intuitive environment of the spreadsheet. This gives managers the power of quantitative analysis tools without forcing them to use unfamiliar mathematical notation. Applications from a variety of business areas will be discussed, including finance, marketing, and operations. Example applications include: cash flow problems, portfolio optimization, pricing models, supply chain management, facility location, shortest path and routing, vehicle/equipment replacement strategy, advertising media selection, evaluating projects or investments with simulation, contract bidding (optimizing with simulation), airline overbooking (optimizing with simulation), budget-constrained project selection (optimizing with simulation). See link to class web site for more information.
Student learning goals
General method of instruction
Hands-on modeling with the computer using Excel
Recommended preparation
Be comfortable working with Microsoft Excel (only a basic knowledge of Excel is required)
Class assignments and grading
Spreadsheet modeling exercises done in small groups and/or individuallly. Two take-home exams.
Problem sets and two take-home exams.
