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This best-selling volume has long been considered one of the most user accessible books for management science. The new edition retains and updates the traditional, comprehensive coverage of past editions but now adds spreadsheet-based problem solutions to most chapters. In addition, the book is now packaged with free software. The authors provide a comprehensive introduction to quantitative analysis, probability concepts and applications and decision theory models, as well as forecasting, control models, linear programming models and applications, transportation and assignment models, integer programming, goal programming, nonlinear programming, and branch and bound models, network models, project management, lines and queuing theory models and statistical quality control. For those interested in a comprehensive, yet accessible presentation of QM for management.
Table of Contents
Introduction to Quantitative Analysis
SUPPLEMENT 1 Game Theory
Probability Concepts and Applications
Fundamentals of Decision Theory Models
Decision Trees and Utility Theory
Inventory Control Models
Linear Programming Models: Graphical and Computer Methods
Linear Programming Modeling Applications: With Computer Analyses in Excel and QM for Windows
Linear Programming: The Simplex Method
Transportation and Assignment Models
Integer Programming, Goal Programming, and Nonlinear Programming
Waiting Lines and Queuing Theory Models
Statistical Quality Control
OVERVIEW The eighth edition ofQuantitative Analysis for Managementbuilds on the traditions and strengths of past successes, while recognizing an ever-changing business environment.Quantitative Analysis for Managementmaintains a focus on modeling and computer integration. Aver 20 years of service to the management science and quantitative analysis discipline have-.contributed to making this one of the most widely accepted books in this area. The eighth edition continues to provide the reader with the skills to apply the techniques of quantitative analysis in many types of organizational decision-making situations. Every major topic in the quantitative analysis/management science field is included in one of the chapters, supplements, or CD-ROM modules. This provides the instructor with the flexibility to tailor the course to different audiences and curricula. We show how each technique is used, discuss the assumptions and limitations of the models, and illustrate the real-world usefulness of each technique with many applications in both profit and nonprofit organizations. We have kept the notation, terminology, and equations standard with other books. As in the first seven editions, we have tried to write a text that is easy to understand and use. Algebra is the only mathematical prerequisite. Expanded use of computer software helps keep the emphasis on modeling real-world problems and understanding the solutions to these models. QM for Windows, Excel QM, and Excel are used throughout the book. NEW AND UPDATED FEATURES This book maintains a student orientation. Feedback from previous editions has been very positive about many features of this book. A summary of the updated features as well as the new features is presented here. Modeling in the Real Worldboxes help students apply the steps of the quantitative analysis approach to every technique discussed in the book. Many of these have been updated to include new examples of how real companies have benefited from the modeling approach. Procedureboxes describe quantitative analysis as a series of steps. Margin notes,sentences or short paragraphs, are used to make it easier for students to understand important points. History boxes,which briefly describe how a technique was developed, have been updated to reflect new developments. QA in Actionboxes summarize published articles illustrating how real organizations have used quantitative analysis to solve problems. TheQA in Actionboxes have been upgraded with many new applications. There are fifteen newQA in Actionboxes in the eighth edition. Solved Problems,included at the end of chapters, serve as models for students in solving their own homework problems. Several new problems have been added. Discussion Questions,at the end of each chapter, test the student's understanding of the concepts. Forty new questions have been added to this edition. Problemsincluded in every chapter are applications-oriented and test the student's ability to solve exam-type problems. These are graded by level of difficulty: introductory (one bullet), moderate (two bullets), and challenging (three bullets). Over 1; new problems have been added. Internet Homework Problemsare now available. This feature is new in this edition. Approximately 90 additional problems are available on the companion Web site. Self Testsallow students to test their knowledge of important terms and concepts to help them prepare for quizzes and examinations. There are over 190 new self-test questions in the eighth edition. Case Studies,at the end of each chapter, provide additional challenging managerial applications. Several new cases have been added, and additional case studies are available on our com