Management Science: The Art of Modeling with Spreadsheets, 2nd Edition

by Stephen G. Powell (Dartmouth College); Kenneth R. Baker (Dartmouth College)

• ISBN13: 9780470038406
• ISBN10: 0470038403
• Edition: 2nd
• Format: Hardcover
• Copyright: 2007-01-01
• Publisher: Wiley

Summary

The second edition of Management Science: The Art of Modeling with Spreadsheets by Steve Powell and Ken Baker will expand upon the essential skills needed to develop real expertise in business modeling. By adding more coverage of management science topics, broader coverage of Excel, focused chapters, and new exercises and cases, this edition will be easier to use in a wide variety of undergraduate and MBA courses.

Author Biography

Stephen G. Powell has been Professor of Business Administration at Dartmouth College since 1987. He teaches courses in management science, including the core Decision Science course, and electives in the Art of Modeling and Applications of Simulation. His research interests include modeling production lines and service sector business processes, as well as how novices formulate models and use models in decision making. He is co-author of The Art of Modeling with Spreadsheets, with Ken Baker, and recipient of the 2001 INFORMS Prize for Teaching of OR/MS Practice. He is also working with the Tuck Spreadsheet Engineering Research Project, a three-year project to study how individuals and organizations use spreadsheets and to identify best practices.

Ken Baker is a faculty member at Dartmouth College. He is currently Nathaniel Leverone Professor of Management at the Tuck School of Business and also Adjunct Professor at the Thayer School of Engineering. At Dartmouth, he has taught courses relating to Decision Science, Manufacturing Management, and Environmental Management. Over the years, much of his teaching and research has dealt with Production Planning and Control, and he is widely known for his textbook, Elements of Sequencing and Scheduling, in addition to a variety of technical articles. He has served as Tuck School’s Associate Dean and directed the Tuck School’s management development programs in the manufacturing area. In 2001, he was named a Fellow of INFORMS’ Manufacturing and Service Operations Management (MSOM) Society.

Table of Contents

Introduction

Models and Modeling

The Role of Spreadsheets

The Real World and the Model World

Lessons from Expert and Novice Modelers

Organization of the Book

Summary

Modeling in a Problem-Solving Framework

Introduction

The Problem-Solving Process

Influence Charts

Craft Skills for Modeling

Summary

Basic Excel Skills

Introduction

Excel Prerequisites

The Excel Window

Configuring Excel

Manipulating Windows and Sheets

Navigation

Selecting Cells

Entering Text and Data

Editing Cells

Formatting

Basic Formulas

Basic Functions

Charting

Printing

Help Options

Summary

Advanced Excel Skills

Introduction

Keyboard Shortcuts

Controls

Cell Comments

Naming Cells and Ranges

Advanced Formulas and Functions

Recording Macros And Using VBA

Summary

Spreadsheet Engineering

Introduction

Designing a Spreadsheet

Designing a Workbook

Building a Workbook

Testing a Workbook

Auditing Software: Spreadsheet Professional

Summary

Analysis Using Spreadsheets

Introduction

Base-case Analysis

What-If Analysis

Breakeven Analysis

Optimization Analysis

Simulation and Risk Analysis

Summary

Data Analysis for Modeling

Introduction

Finding Facts from Databases

Analyzing Sample Data

Estimating Parameters: Point Estimates

Estimating Parameters: Interval Estimates

Summary

Regression Analysis

Introduction

A Decision-Making Example

Exploring Data: Scatter Plots and Correlation

Simple Linear Regression

Goodness-of-Fit

Simple Regression in the BPI Example

Simple Nonlinear Regression

Multiple Linear Regression

Multiple Regression in the BPI Example

Regression Assumptions

Using the Excel Tools Trendline and LINEST

Summary

Short-Term Forecasting

Introduction

Forecasting with Time Series Models

The Moving Average Model

Measures of Forecast Accuracy

The Exponential Smoothing Model

Exponential Smoothing with a Trend

Exponential Smoothing with Trend and Cyclical Factors

Using CB Predictor

Single Moving Average

Single Exponential Smoothing

Summary

Nonlinear Optimization

Introduction

An Optimization Example

Building Models for Solver

Model Classification and the Nonlinear Solver

Nonlinear Programming Examples

Facility Location

Sensitivity Analysis for Nonlinear Programs

The Portfolio Optimization Model

Summary

Linear Programming

Introduction

Allocation Models

Covering Models

Blending Models

Sensitivity Analysis for Linear Programs

Patterns in Linear Programming Solutions

Data Envelopment Analysis

Summary

Network Models

Introduction

The Transportation Model

Assignment Model

The Transshipment Model

A Standard Form for Network Models

Network Models with Yields

Network Models for Process Technologies

Summary

Integer Programming

Introduction

Integer Variables and the Integer Solver

Binar

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