Introduction to Management Science

, by Lee, Sang M.; Olson, David L.

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ISBN: 9780873935890 | 0873935896
Cover: Paperback
Copyright: 4/30/1999

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Supplemental Materials

The Role of Management Science

What's it all About?

(1)

Management and Decision Making

(2)

Rationality in Decision Making

(4)

The Scientific Method

(2)

The Concept of Economic Person

(1)

Management Science and the Systems Approach

(2)

How Managers Actually Make Decisions

(1)

The Role of Management Science

(3)

Practical Application of Management Science

(1)

New Paradigm and Management Science

(2)

Building a Better Perspective

(1)

Summary

(5)

Modeling in Management Science

Introduction to Modeling

(2)

Management Science Modeling

(5)

The Model Structure

(1)

The Model Components

(3)

Relationships within the Model

(1)

Decision-Making Environment

(7)

Decision Making under Certainty

(1)

Automated Scheduling System

(1)

Decision Making under Risk

(1)

Telephone System Analysis

(1)

Decision Making under Uncertainty

(1)

Real Treasure Hunting

(1)

Decision Making under Conflict

(1)

Finnish Agricultural Inc.ome Policy

(1)

The Process of Management Science Modeling

(4)

Formulation of the Problem

(2)

Development of the Model

(1)

Model Validation and Data Collection

(1)

Solution of the Model

(1)

Implementation of the Solution

(1)

Keeping a Proper Perspective about Models

(2)

Summary

(4)

Introduction to Linear Programming

Basic Concepts of Linear Programming

(5)

A Brief History

(1)

Basic Requirements

(2)

Application Areas

(2)

Model Formulation

(37)

Galaxy Electronics, Inc.

(3)

The Orientation Program for First-Year Students

(2)

UR# 1 Limousine Service Company

(3)

Leon's Groceries

(5)

Graphical Solution Method

(1)

A Simple Maximization Problem

(12)

Analysis of Slack Variables

(2)

A Simple Minimization Problem

(4)

Analysis of Surplus Variables

(1)

A Problem with an Equality Constraint

(2)

Some Complications

(2)

Real-World Applications of Linear Programming

(4)

Credit Card Debt Collection

(1)

Diet Management

(1)

Scheduling Transportation Systems

(1)

Summary

(12)

Simplex Method of Linear Programming

The Simplex Method

105

(2)

The Simplex Solution Procedure

107

(22)

Candex Camere Works Ltd.

107

(1)

Develop the Simplex Model

108

(1)

Determine the Initial Solution

109

(5)

Test Optimality

114

(1)

Identify the Entering Variable

114

(2)

Determine the Leaving Variable

116

(3)

Develop a New Solution

119

(4)

Test Optimality and Repeat the Procedure

123

(2)

Interpret the Optimal Solution

125

(3)

Summary of the Simplex Solution Procedure

128

(1)

Simplex Solution of a Problem with Mixed Constraints

129

(10)

A Maximization Problem with Mixed Constraints

129

(10)

Simplex Solution of a Minimization Problem

139

(3)

The Orientation Program for First-Year Students

139

(3)

Some Problem Situations

142

(6)

Tie in Selecting the Entering Variable

142

(1)

Tie in Selecting the Leaving Variable (Degeneracy)

143

(1)

Multiple Optimal Solutions

144

(3)

An Infeasible Problem

147

(1)

An Unbounded Problem

148

(1)

Summary

148

(11)

Duality, Sensitivity Analysis, and Computer Solutions of Linear Programming

Duality in Linear Programming

159

(8)

The Primal-Dual Relationship

160

(1)

Candex Camera Works, Ltd.

160

(2)

Interpretation of the Dual Model

162

(3)

The Dual of a Problem with Mixed Constraints

165

(1)

Example 5.2

165

(2)

Sensitivity Analysis

167

(24)

Simple Graphical Sensitivity

167

(1)

Example 5.3 Ecologically Correct Fuel Production

168

(6)

Simplex-Based Sensitivity Analysis

174

(1)

Ecologically Correct Fuel cont

175

(16)

Computer Solutions in Linear Programming

191

(1)

Summary

192

(13)

Integer and Zero-One Programming

Integer Programming

205

(10)

The Rounding Approach

206

(1)

The Graphical Approach

207

(1)

Creative Designer Jeans, Inc.

208

(1)

The Branch-and-Bound Method

209

(6)

Zero-One Programming

215

(7)

A Capital-Budgeting Problem

216

(2)

An Inventory Management Problem

218

(2)

Project Selection

220

(2)

Computer Solution of Integer and Zero-One Programming Problems

222

(1)

Real-World Applications of Integer Programming

222

(4)

Black Fly Control

223

(1)

Research and Development Project Selection

224

(1)

Fiber-Optic Network Expansion

225

(1)

Summary

226

(3)

Goal Programming

229

(3)

Application Areas

231

(1)

Model Formulation

232

(18)

Century Electronics Inc.

232

(7)

Big Sound Music Lac

239

(7)

Bleeker College Foundation

246

(4)

The Graphical Method of Goal Programming

250

(5)

An Electronics Manufacturing Firm

250

(5)

The Modified Simplex Method of-Goal Programming

255

(10)

Some Goal Programming Complications

265

(2)

Computer Solution of Goal Programming Models

267

(2)

Applications of Goal Programming

269

(2)

Road Project Selection

269

(1)

Bank Asset Management

270

(1)

Summary

271

(16)

The Transportation Problem

The Nature of the Transportation Method

287

(4)

Gulf Coast Oil Company Inc.

288

(3)

The Balanced Transportation Problem

291

(17)

Developing an Initial Solution

292

(8)

Determining the Optimal Solution - The Modified Distribution Method

300

(8)

The Unbalanced Transportation Problem

308

(4)

Demand Exceeds Supply

308

(3)

Supply Exceeds Demand

311

(1)

Some Unique Situations

312

(8)

Degeneracy

312

(3)

Prohibited or Impossible Transportation Routes

315

(1)

Multiple-Optimal Solutions

316

(1)

The Transshipment Problem

317

(2)

Gulf Coast Oil - Transshipment

319

(1)

The Transportation Problem with Multiple Objectives

320

(1)

Computer Solutions for Transportation Problems

321

(3)

Real-World Applications of the Transportation Method

324

(3)

Electrical Pricing

325

(1)

Nuclear Waste Disposal

326

(1)

Summary

327

(18)

The Assignment Problem

The Nature of the Assignment Problem

345

(2)

Martha Weinstein Cosmetics Inc.

346

(1)

The Complete Enumeration Method

347

(1)

Linear Programming Model for the Assignment Problem

348

(1)

The Hungarian Method of Assignment

349

(7)

The Opportunity Cost Table

350

(2)

Analysis of Optimal Assignment Feasibility

352

(1)

The Revised Opportunity Cost Table

353

(3)

A Maximization Assignment Problem

356

(4)

The Neighborhood Team-Policing Assignment

357

(3)

Some Unique Assignment Problems

360

(3)

Unequal Rows and Columns

360

(1)

Mississippi Barge Transportation Inc.

360

(2)

Impossible (or Prohibited) Assignments

362

(1)

Multiple Optimal Solutions

363

(1)

Multiple Objectives

363

(1)

The Branch-and-Bound Approach

363

(8)

Computer Solution for Assignment Method Problems

371

(1)

Real-World Applications

372

(2)

Assigning Medical Residents

373

(1)

Summary

374

(13)

Network Models

Characteristics of a Network

387

(2)

Shortest-Route Problem

389

(6)

Peak Season Travel Inc.

390

(5)

Minimum Spanning Tree Problem

395

(3)

National Local Area Network

396

(2)

Maximum Flow Problem

398

(6)

Picturesque Caves Tour

399

(5)

Computer Solutions of Network Problems

404

(3)

Real-World Applications

407

(3)

Yellow Freight System Routing Optimization

407

(1)

Airline Network Design

408

(1)

Telephone Network Planning

409

(1)

Summary

410

(15)

Nonlinear Programming

Nonlinear Optimization Problems

425

(16)

Optimization of a Single Variable Unconstrained Nonlinear Function

425

(1)

The Money Pump

425

(3)

Optimization of Multivariate Unconstrained Nonlinear Functions

428

(4)

Product Expansion

432

(2)

Lagrange Multipliers

434

(2)

The Chase investment Planning Agency

436

(5)

Computer Support to Nonlinear Programming

441

(1)

Real-World Applications

441

(2)

Gasoline Blending

441

(1)

Feed Blending

442

(1)

Summary

443

(4)

Project Planning with CPM and PERT

Characteristics of the Project-Planning Problem

447

(3)

The Gantt Chart

448

(2)

History of CPM and PERT

450

(1)

Developing Project Networks

450

(3)

Transforming a Gantt Chart into a Network

451

(2)

Dummy Activities

453

(1)

Identifying the Critical Path

453

(13)

A Simple Network

454

(1)

The Earliest Expected Time (ET)

454

(2)

The Latest Allowable Time (LT)

456

(2)

The Critical Path

458

(2)

Activity Scheduling and Slack

460

(3)

Schmidt Construction Inc.

463

(3)

CPM Time and Cost Trade-Offs

466

(9)

Project Crashing

469

(6)

Estimating Activity Times in Pert

475

(6)

Fresh Yogurt Inc.

476

(5)

Computer Solution of Project-Planning Problems

481

(2)

Real-World Applications

483

(4)

Social Service Project Management

484

(1)

CPM Used to Support Contractor Claim

485

(1)

Scheduling Maintenance Projects in a Chinese Copper Mine

485

(2)

Summary

487

(10)

Decision Theory

Decision-Making with Probability

497

(2)

Decision Making Under Risk

499

(7)

The Expected Payoff Criterion

502

(1)

Friendly Investment Club

502

(2)

The Expected Loss Criterion

504

(1)

The State fair Concession

504

(2)

Simple Inventory Problems Under Risk

506

(10)

New England Fish Market

506

(2)

Conditional Profits

508

(1)

Expected Profits

509

(2)

Expected Profit under Certainty

511

(2)

Conditional Loss

513

(2)

Value of Perfect Information

515

(1)

Incremental Analysis

516

(10)

Analysis of Salvage Value

520

(3)

Analysis of Goodwill Cost

523

(2)

Computer Solution of Decision Problems under Risk

525

(1)

Decision Making Under Uncertainty

526

(12)

Sakura Motors Corporation ISMCJ USA

526

(1)

Decision Making with Partial Probabilities

527

(3)

The Equal Probabilities (Laplace) Criterion

530

(1)

The Maximin (Wald) Criterion

530

(1)

The Maximax Criterion

530

(1)

The Dominance Criterion

531

(1)

The Hurwicz Criterion

532

(3)

The Minimax (Regret) Criterion

535

(1)

Summary of Decision-Making Criteria

536

(1)

Computer Solution of Decision Problems under Uncertainty

537

(1)

Subjective Probabilities

538

(13)

Bayes' Decision Rule

538

(1)

Centennial Precision Works Inc.

539

(2)

Computer Solution of Bayes' Decision Rule Problems

541

(1)

Utility Analysis

541

(2)

Multiple Objectives

543

(1)

Decision Trees

544

(1)

Mostly Nuts of Georgia, Inc.

545

(5)

Computer Solution of Decision Tree Problems

550

(1)

Real-World Applications

551

(4)

Airline Yield Management

552

(1)

Managing Environmental Risk in Electric Utilities

553

(1)

Bank Risk Management

554

(1)

Summary

555

(12)

Game Theory

The Nature and Types of Games

567

(1)

The Two-Person, Zero-Sum Game

568

(12)

Fleet the Foot

568

(1)

Pure Strategy Games

569

(1)

Dominate Strategy Games

570

(1)

Mixed Strategy Games

571

(1)

K's Restaurant

571

(2)

Expected Outcome Approach

573

(3)

Linear Programming Approach

576

(4)

Computer Solution of Games

580

(1)

Summary

581

(2)

The Analytic Hierarchy Process

Description of AHP

583

(5)

Automobile Purchase

583

(1)

Hierarchy Development

584

(1)

Subjective Pairwise Comparisons

585

(3)

Obtaining Relative Values

588

(4)

Consistency Measure

589

(2)

Synthesis

591

(1)

Geometric Mean Solution

592

(3)

Premier Parking Inc.

593

(2)

Real-World Applications of AHP

595

(4)

Air Force Project Evaluation

596

(1)

Finnish Electrical Generation Policy

597

(2)

Computer Support for AHP

599

(1)

Summary

600

(6)

Appendix: Calculation of Maximum Eigen Value and Eigen Vector

606

(1)

Inventory Models

Characteristics of Inventory Systems

607

(2)

Basic Inventory Decisions

609

(2)

Holding Costs

610

(1)

Ordering Costs

610

(1)

Shortage Costs

611

(1)

Economic Order Quantity (EOQ) Model

611

(14)

EOQ Model Assumptions

611

(1)

EOQ Model Symbols

612

(1)

EOQ Model Formulation

613

(3)

Television Technology Inc.

616

(9)

Modifications of the EOQ Model

625

(4)

Holding Cost as a Proportion of Value

625

(1)

Time Horizon as a Model Variable

626

(1)

Reorder Point

627

(2)

Extensions of the EOQ Model

629

(20)

Noninstantaneous Receipt Model

629

(3)

Economic Lot-Size (ELS) Model

632

(3)

Synergy Products Inc.

635

(3)

Quantity Discount Model

638

(2)

Smith Autoparts Company

640

(1)

Inventory Model with Planned Shortages

641

(5)

American Rubber Products Inc.

646

(3)

The Inventory Model Under Uncertainty

649

(20)

Inventory Model with Safety Stocks

649

(4)

Bold Bodybuilders Inc.

653

(3)

Inventory Model with Uncertain Demand and Lead Time

656

(3)

Modern Office Equipment Inc.

659

(10)

Analytical Inventory Models Versus Simulation

669

(1)

Material Requirements Planning and Just-In-Time Systems

669

(1)

Computer Solution of Inventory Problems

670

(2)

Real-World Applications

672

(2)

Classical EOQ Model Applied to Pharmaceuticals

673

(1)

Analysis of Distribution Systems

674

(1)

Summary

674

(12)

Waiting Line (Queuing) Models

The Waiting Line Process

686

(7)

Components of a Waiting Line System

688

(2)

Basic Structures of Waiting Line Systems

690

(2)

Student Union Hairstyling Salon

692

(1)

Waiting Line Decision Problems

693

(4)

Service Costs

695

(1)

Waiting Costs

695

(1)

Total System Costs

695

(1)

A Port Unloading Problem

696

(1)

Assumptions for Waiting Line Models

697

(1)

Waiting Line Models

698

(8)

The Single Server, Constant Service Time Model (M/D/1):(FCFS/∞/∞)

699

(1)

Fast-Food Diner

700

(1)

The Single Server, Random Service Time Model (M/M/1):(FCFS/∞/∞)

701

(1)

Corner Bookshop

702

(1)

The Multiple Servers, Random Service Time Model (M/M/s):(FCFS/∞/∞)

703

(1)

County Department of Revenue

703

(3)

Other Models

706

(1)

Simulation of Waiting Line Systems

707

(1)

Computer Solution of Queuing Models

707

(1)

Real-World Applications

708

(3)

New Haven Fire Fighting

709

(1)

New York City Justice System

710

(1)

Summary

711

(8)

Supplementary Section on Waiting Line Models

Model Parameters: Distributions

719

(8)

Arrival Distribution

719

(3)

Service Time Distribution

722

(3)

Number of Servers

725

(1)

Queue Discipline

725

(1)

Infinite versus Finite Waiting Line Length

726

(1)

Maximum Population in the System

726

(1)

Eight Waiting Line Models

727

(18)

The Titanic Queue

727

(1)

(D/D/1):(FCFS/∞/∞)

728

(1)

Operation Thule

729

(1)

(M/M/1):(FCFS/∞/∞)

730

(2)

(M/GI/1):(FCFS/∞/∞)

732

(1)

Operation Thule - Pump X

732

(2)

(M/D/1):(FCFS/∞/∞)

734

(1)

Operation Thule - Pump Y

734

(1)

(M/Ek/1):(FCFS/∞/∞)

735

(1)

Operation Thule - Pump Z

735

(2)

(M/M/1):(FCFS/∞/∞)

737

(1)

The Iceland Connection

737

(2)

(M/M/1):(FCFS/∞/m)

739

(1)

End of the Open-Sea Season at Thule

739

(2)

(M/M/s):(FCFS/∞/∞)

741

(1)

Planning for a New Season at Thule

741

(4)

Dynamic Programming

The Basic Nature of Dynamic Programming

745

(8)

Segmentation and Sequential Decisions

746

(1)

The Backward Approach

746

(1)

The Washington, D.C. Conference

747

(1)

The Basic Features of Dynamic Programming

747

(3)

The Complete Enumeration Approach

750

(1)

Solution by Dynamic Programming

751

(2)

The Structure of Dynamic Programming

753

(16)

Downjohn Pharmaceutical Corporation

756

(6)

Ace Manufacturing Company

762

(7)

Probabilistic Dynamic Programming

769

(1)

Computer Solution of Dynamic Programming Problems

769

(2)

Real-World Application

771

(1)

Desert Storm Airlift Scheduling

771

(1)

Summary

772

(13)

Simulation

The Nature of Simulation

785

(7)

What is Simulation?

787

(2)

Why Simulate?

789

(2)

Characteristics of Simulation Models

791

(1)

The Process of Simulation

792

(4)

Simulation of Stochastic Models

796

(14)

The Monte Carlo Process

796

(4)

The Milwaukee Construction Company

800

(10)

Generating Random Numbers

810

(8)

Table of Random Numbers

810

(1)

Mid-Square Method

811

(1)

Mid-Product Method

811

(1)

Multiplicative Congruential Method

812

(1)

Random Number Transformation

812

(1)

Peach Computers Inc.

812

(6)

Optimization in Simulation

818

(1)

Simulation Languages

819

(1)

Applications of Simulation

820

(2)

Real-World Applications

822

(2)

Warehouse Management

822

(1)

Health Insurance Plan Evaluation

823

(1)

Blood Drive Organization

823

(1)

Summary

824

(9)

Forecasting

Forecasting Methods

833

(3)

Time Series Methods

836

(11)

Elements of Time Series

836

(1)

The Moving Average

837

(1)

Centennial Corporation

837

(4)

Weighted Moving Average

841

(1)

Exponential Smoothing

841

(2)

Trend Projections

843

(3)

Forecast Reliability

846

(1)

Regression Forecasting Methods

847

(4)

The Executive MBA Program

848

(3)

Coefficient of Determination

851

(1)

Multiple Regression

852

(1)

Qualitative Forecasting Methods

852

(2)

Computer Solution of Forecasting Models

854

(3)

Real-World Applications

857

(5)

Forecasting to Help Improve Customer Service

857

(1)

Texas Legislative Budget Ceiling Imposed by Forecast

858

(1)

Predicting Product Sales Response to Price

859

(2)

Delphi Forecast of Alaska's Future

861

(1)

Summary

862

(11)

Markov Analysis

Markov Processes and their Properties

873

(3)

State Historical

874

(2)

Predicting Future States

876

(7)

Matrix Approach

878

(5)

Steady-State Probabilities

883

(3)

Super-Saver Market Inc.

884

(2)

Special Cases of Markov Analysis

886

(5)

St. Elizabeth s Community Hospital

887

(4)

Computer Solution of Markov Problems

891

(4)

Real-World Applications of Markov Analysis

895

(2)

Markov Chains Used to Analyze Commercial Credit

895

(1)

Markov Chain Analysis of Mortgage-Backed Securities

896

(1)

Summary

897

(11)

Management Science Implementation and Decision Support Systems

Management Science Implementation

908

(3)

What is Implementation?

908

(1)

Typical Implementation Problems

909

(2)

Perspectives on Implementation

911

(1)

Computer Support to Business

912

(3)

Management Information Systems

912

(1)

Decision Support Systems

913

(1)

Expert Systems

914

(1)

The Relationship of Systems to Levels of Decision Making

915

(1)

The Systems Approach

916

(2)

Real-World Applications of Decision Support Systems

918

(8)

Designing an Integrated Distribution System

919

(2)

Airline Spare Part Inventory Management System

921

(2)

Police Officer Scheduling

923

(3)

Summary

926

(5)

Appendix 1 Poisson Probability Values

931

(8)

Appendix 2 Values of ex and e-x

939

(1)

Appendix 3 Values of P0 for Various Combinations of λ/sμ

940

(3)

Appendix 4 Area Under the Standard Normal Curve

943

(2)

Appendix 5 Table of Random Numbers

945

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Table of Contents

Supplemental Materials

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