Introduction to Management Science

Taylor 10th Edition Solutions Manual

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Introduction to Management Science shows readers how to approach
decision-making problems in a straightforward, logical way.

Management Science; Linear Programming: Model Formulation and

Graphical Solution; Linear Programming: Computer Solution and Sensitivity
Analysis; Linear Programming: Modeling Examples; Integer Programming;
Transportation, Transshipment, and Assignment Problems; Network Flow
Models; Project Management; Multicriteria Decision Making; Nonlinear
Programming; Probability and Statistics; Decision Analysis; Queuing
Analysis; Simulation; Forecasting; Inventory Management

Preface xiii
Learning Features xiii
Microsoft Project xvi
Instructors' and Students' Supplements xvii
Acknowledgments xviii
Chapter 1. Management Science 1
The Management Science Approach to Problem Solving 2
Model Building: Break-Even Analysis 7
Computer Solution 12
Management Science Modeling Techniques 16
Business Usage of Management Science Techniques 18
Management Science Models in Decision Support Systems 20
Summary 22
References 23
Problems 23
Case Problem 27
Case Problem 27
Case Problem 28
Chapter 2. Linear Programming: Model Formulation and Graphical
29
Solution
Model Formulation 30
A Maximization Model Example 30
Graphical Solutions of Linear Programming Models 34
A Minimization Model Example 47
Irregular Types of Linear Programming Problems 53
Characteristics of Linear Programming Problems 55
Summary 57
References 57
 Example Problem Solutions 57
Problems 61
Case Problem 69
Case Problem 70
Case Problem 70
Chapter 3. Linear Programming: Computer Solution and Sensitivity
71
Analysis
Computer Solution 72
Sensitivity Analysis 79
Summary 92
References 92
Example Problem Solution 93
Problems 95
Case Problem 107
Case Problem 108
Case Problem 108
Chapter 4. Linear Programming: Modeling Examples 110
A Product Mix Example 111
A Diet Example 116
An Investment Example 119
A Marketing Example 125
A Transportation Example 129
A Blend Example 132
A Multiperiod Scheduling Example 135
A Data Envelopment Analysis Example 140
Summary 144
References 145
Example Problem Solution 145
Problems 147
Case Problem 176
Case Problem 176
Case Problems 177
Case Problem 178
Case Problems 179
Chapter 5. Integer Programming 180
Integer Programming Models 181
Integer Programming Graphical Solution 185
Computer Solution of Integer Programming Problems with Excel
187
and QM for Windows
01 Integer Programming Modeling Examples 194
Summary 203
References 203
Example Problem Solution 203
Problems 204
Case Problem 216
Case Problems 217
Case Problem 218
Case Problems 219
 Case Problem 220
Chapter 6. Transportation, Transshipment, and Assignment
222
Problems
The Transportation Model 223
Computer Solution of a Transportation Problem 226
The Transshipment Model 230
The Assignment Model 234
Computer Solution of an Assignment Problem 235
Summary 238
References 239
Example Problem Solution 239
Problems 240
Case Problem 266
Case Problem 266
Case Problem 267
Case Problem 268
Case Problem 269
Case Problem 270
Chapter 7. Network Flow Models 272
Network Components 273
The Shortest Route Problem 274
The Minimal Spanning Tree Problem 281
The Maximal Flow Problem 286
Summary 292
References 293
Example Problem Solution 293
Problems 295
Case Problem 314
Case Problem 315
Case Problem 317
Case Problem 319
Chapter 8. Project Management 320
The Elements of Project Management 321
CPM/PERT 329
Probabilistic Activity Times 338
Microsoft Project 345
Project Crashing and TimeCost Trade-off 352
Formulating the CPM/PERT Network as a Linear Programming
357
Model
Summary 364
References 364
Example Problem Solution 365
Problems 367
Case Problem 386
Case Problem 387
Chapter 9. Multicriteria Decision Making 389
Goal Programming 390
Graphical Interpretation of Goal Programming 394
 Computer Solution of Goal Programming Problems with QM for
397
Windows and Excel
The Analytical Hierarchy Process 404
Scoring Models 416
Summary 418
References 418
Example Problems Solutions 418
Problems 422
Case Problem 447
Case Problem 448
Case Problem 449
Chapter 10. Nonlinear Programming 451
Nonlinear Profit Analysis 452
Constrained Optimization 455
Solution of Nonlinear Programming Problems with Excel 458
A Nonlinear Programming Model with Multiple Constraints 461
Nonlinear Model Examples 463
Summary 468
References 469
Example Problem Solution 469
Problems 469
Case Problem 474
Case Problem 475
Chapter 11. Probability and Statistics 476
Types of Probability 477
Fundamentals of Probability 479
Statistical Independence and Dependence 483
Expected Value 490
The Normal Distribution 492
Summary 504
References 504
Example Problem Solution 504
Problems 506
Case Problem 513
Chapter 12. Decision Analysis 514
Components of Decision Making 515
Decision Making Without Probabilities 516
Decision Making with Probabilities 523
Decision Analysis with Additional Information 538
Utility 545
Summary 547
References 547
Example Problem Solution 547
Problems 551
Case Problem 568
Case Problem 569
Case Problem 569
Case Problem 570
Chapter 13. Queuing Analysis 572
Elements of Waiting Line Analysis 573
The Single-Server Waiting Line System 574
Undefined and Constant Service Times 584
Finite Queue Length 587
Finite Calling Population 590
The Multiple-Server Waiting Line 593
Additional Types of Queuing Systems 598
Summary 599
References 599
Example Problem Solution 600
Problems 601
Case Problems 609
Case Problem 610
Chapter 14. Simulation 611
The Monte Carlo Process 612
Computer Simulation with Excel Spreadsheets 617
Simulation of a Queuing System 623
Continuous Probability Distributions 627
Statistical Analysis of Simulation Results 632
Crystal Ball 634
Verification of the Simulation Model 643
Areas of Simulation Application 643
Summary 645
References 646
Example Problem Solution 647
Problems 649
Case Problem 663
Case Problem 664
Chapter 15. Forecasting 666
Forecasting Components 667
Time Series Methods 669
Forecast Accuracy 683
Time Series Forecasting Using Excel 688
Time Series Forecasting Using QM for Windows 690
Regression Methods 691
Summary 702
References 702
Example Problem Solutions 703
Problems 705
Case Problem 725
Case Problem 726
Case Problem 726
Chapter 16. Inventory Management 728
Elements of Inventory Management 729
Inventory Control Systems 731
Economic Order Quantity Models 733
The Basic EOQ Model 733
 The EOQ Model with Noninstantaneous Receipt 739
The EOQ Model with Shortages 742
EOQ Analysis with QM for Windows 746
EOQ Analysis with Excel and Excel QM 746
Quantity Discounts 747
Reorder Point 752
Determining Safety Stock By Using Service Levels 754
Order Quantity for a Periodic Inventory System 758
Summary 759
References 760
Example Problem Solutions 760
Problems 761
Case Problem 769
Case Problem 769
Case Problem 770
Case Problem 770
Appendix A. Normal and Chi-Square Tables 773
Appendix B. Setting Up and Editing a Spreadsheet 775
Titles and Headings 775
Borders 775
Column Centering 776
Deleting and Inserting Rows and Columns 776
Decimal Places 776
Increasing or Decreasing the Spreadsheet Area 777
Expanding or Reducing Column and Row Widths 777
Inserting an Equation or a Formula into a Cell 777
Printing a Spreadsheet 777
Appendix C. The Poisson and Exponential Distributions 779
The Poisson Distribution 779
The Exponential Distribution 780
Solutions to Selected Odd-Numbered Problems 781
Chapter 1 781
Chapter 2 781
Chapter 3 781
Chapter 4 782
Chapter 5 783
Chapter 6 784
Chapter 7 784
Chapter 8 785
Chapter 9 785
Chapter 10 786
Chapter 11 786
Chapter 12 786
Chapter 13 786
Chapter 14 787
Chapter 15 787
Chapter 16 787
Glossary 789
 A 789
B 789
C 789
D 790
E 790
F 790
G 790
H 790
I 790
J 791
L 791
M 791
N 791
O 791
P 791
Q 792
R 792
S 792
T 793
U 793
V 793
W 793
Z 793
Photo Credits 803
Module A. The Simplex Solution Method A-1
Converting the Model into Standard Form A-2
The Simplex Method A-5
Summary of the Simplex Method A-16
Simplex Solution of a Minimization Problem A-16
A Mixed Constraint Problem A-21
Irregular Types of Linear Programming Problems A-23
The Dual A-30
Sensitivity Analysis A-34
Problems A-43
Module B. Transportation and Assignment Solution Methods B-1
Solution of the Transportation Model B-2
Solution of the Assignment Model B-22
Problems B-25
Module C. Integer Programming: The Branch and Bound Method C-1
The Branch and Bound Method C-2
Problems C-11
Module D. Nonlinear Programming Solution Techniques D-1
The Substitution Method D-2
The Method of Lagrange Multipliers D-4
Problems D-7
Module E. Game Theory E-1
Game Theory E-2
Types of Game Situations E-2
 A Pure Strategy E-3
A Mixed Strategy E-6
Problems E-10
Module F. Markov Analysis F-1
The Characteristics of Markov Analysis F-2
The Transition Matrix F-5
Steady-State Probabilities F-8
Additional Examples of Markov Analysis F-12
Special Types of Transition Matrices F-13
Excel Solution of the Debt Example F-16
Problems F-17
Case Problem F-26
Case Problem F-26
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Index