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Essentials of business analytics / Jeffrey D. Camm, Wake Forest University, James J. Cochran, University of Alabama, Michael J. Fry, University of Cincinnati, Jeffrey W. Ohlmann, University of Iowa, David R. Anderson, University of Cincinnati, Dennis J. Sweeney, University of Cincinnati, Thomas A. Williams, Rochester Institute of Technology.

By: Camm, Jeffrey D, 1958- [author.].
Boston, Massachusetts, USA : Cengage Learning, ©2017Edition: 2e, Second edition.Description: xxv, 870 pages : illustrations (color); 26 cm.Content type: text. ISBN: 1305627733; 9781305627734.Subject(s): Decision making -- Mathematical models | Industrial management -- Statistical methods -- Computer programs | Decision making -- Computer programsDDC classification: 658.4033/C14 Other classification: CAS
Contents:
Note continued: 11.7.Generating an Alternative Optimal Solution for a Linear -- Program -- Summary -- Glossary -- Problems -- Case Problem: Investment Strategy -- Appendix 11.1 Solving Linear Optimization Models Using Analytic Solver Platform -- ch. 12 Integer Linear Optimization Models -- Analytics in Action: Petrobras -- 12.1.Types of Integer Linear Optimization Models -- 12.2.Eastborne Realty, An Example of Integer Optimization -- The Geometry of Linear All-Integer Optimization -- 12.3.Solving Integer Optimization Problems with Excel Solver -- A Cautionary Note About Sensitivity Analysis -- 12.4.Applications Involving Binary Variables -- Capital Budgeting -- Fixed Cost -- Bank Location -- Product Design and Market Share Optimization -- 12.5.Modeling Flexibility Provided by Binary Variables -- Multiple-Choice and Mutually Exclusive Constraints -- K Out of n Alternatives Constraint -- Conditional and Corequisite Constraints -- 12.6.Generating Alternatives in Binary Optimization -- Summary -- Glossary -- Problems -- Case Problem: Applecore Children's Clothing -- Appendix 12.1 Solving Integer Linear Optimization Problems Using Analytic Solver Platform -- ch. 13 Nonlinear Optimization Models -- Analytics in Action: Intercontinental Hotels -- 13.1.A Production Application: Par, Inc. Revisited -- An Unconstrained Problem -- A Constrained Problem -- Solving Nonlinear Optimization Models Using Excel Solver -- Sensitivity Analysis and Shadow Prices in Nonlinear Models -- 13.2.Local and Global Optima -- Overcoming Local Optima with Excel Solver -- 13.3.A Location Problem -- 13.4.Markowitz Portfolio Model -- 13.5.Forecasting Adoption of a New Product -- Summary -- Glossary -- Problems -- Case Problem: Portfolio Optimization with Transaction Costs -- Appendix 13.1 Solving Nonlinear Optimization Problems with Analytic Solver Platform -- ch. 14 Monte Carlo Simulation -- Analytics in Action: Cook County Hospital ICU -- 14.1.Risk Analysis for Sanotronics LLC -- Base-Case Scenario -- Worst-Case Scenario -- Best-Case Scenario -- Sanotronics Spreadsheet Model -- Use of Probability Distributions to Represent Random Variables -- Generating Values for Random Variables with Excel -- Executing Simulation Trials with Excel -- Measuring and Analyzing Simulation Output -- 14.2.Simulation Modeling for Land Shark Inc. -- Spreadsheet Model for Land Shark -- Generating Values for Land Shark's Random Variables -- Executing Simulation Trials and Analyzing Output -- 14.3.Simulation Considerations -- Verification and Validation -- Advantages and Disadvantages of Using Simulation -- Summary -- Glossary -- Problems -- Case Problem: Four Corners -- Appendix 14.1 Land Shark Inc. Simulation with Analytic Solver Platform -- Appendix 14.2 Distribution Fitting with Analytic Solver Platform -- Appendix 14.3 Simulation Optimization with Analytic Solver Platform -- Appendix 14.4 Correlating Random Variables with Analytic Solver Platform -- Appendix 14.5 Probability Distributions for Random Variables -- ch. 15 Decision Analysis -- Analytics in Action: Phytopharm -- 15.1.Problem Formulation -- Payoff Tables -- Decision Trees -- 15.2.Decision Analysis Without Probabilities -- Optimistic Approach -- Conservative Approach -- Minimax Regret Approach -- 15.3.Decision Analysis with Probabilities -- Expected Value Approach -- Risk Analysis -- Sensitivity Analysis -- 15.4.Decision Analysis with Sample Information -- Expected Value of Sample Information -- Expected Value of Perfect Information -- 15.5.Computing Branch Probabilities with Bayes' Theorem -- 15.6.Utility Theory -- Utility and Decision Analysis -- Utility Functions -- Exponential Utility Function -- Summary -- Glossary -- Problems -- Case Problem: Property Purchase Strategy -- Appendix 15.1 Using Analytic Solver Platform to Create Decision Trees.
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Includes bibliographical references (pages 863-864) and index.

Note continued: 11.7.Generating an Alternative Optimal Solution for a Linear -- Program -- Summary -- Glossary -- Problems -- Case Problem: Investment Strategy -- Appendix 11.1 Solving Linear Optimization Models Using Analytic Solver Platform -- ch. 12 Integer Linear Optimization Models -- Analytics in Action: Petrobras -- 12.1.Types of Integer Linear Optimization Models -- 12.2.Eastborne Realty, An Example of Integer Optimization -- The Geometry of Linear All-Integer Optimization -- 12.3.Solving Integer Optimization Problems with Excel Solver -- A Cautionary Note About Sensitivity Analysis -- 12.4.Applications Involving Binary Variables -- Capital Budgeting -- Fixed Cost -- Bank Location -- Product Design and Market Share Optimization -- 12.5.Modeling Flexibility Provided by Binary Variables -- Multiple-Choice and Mutually Exclusive Constraints -- K Out of n Alternatives Constraint -- Conditional and Corequisite Constraints -- 12.6.Generating Alternatives in Binary Optimization -- Summary -- Glossary -- Problems -- Case Problem: Applecore Children's Clothing -- Appendix 12.1 Solving Integer Linear Optimization Problems Using Analytic Solver Platform -- ch. 13 Nonlinear Optimization Models -- Analytics in Action: Intercontinental Hotels -- 13.1.A Production Application: Par, Inc. Revisited -- An Unconstrained Problem -- A Constrained Problem -- Solving Nonlinear Optimization Models Using Excel Solver -- Sensitivity Analysis and Shadow Prices in Nonlinear Models -- 13.2.Local and Global Optima -- Overcoming Local Optima with Excel Solver -- 13.3.A Location Problem -- 13.4.Markowitz Portfolio Model -- 13.5.Forecasting Adoption of a New Product -- Summary -- Glossary -- Problems -- Case Problem: Portfolio Optimization with Transaction Costs -- Appendix 13.1 Solving Nonlinear Optimization Problems with Analytic Solver Platform -- ch. 14 Monte Carlo Simulation -- Analytics in Action: Cook County Hospital ICU -- 14.1.Risk Analysis for Sanotronics LLC -- Base-Case Scenario -- Worst-Case Scenario -- Best-Case Scenario -- Sanotronics Spreadsheet Model -- Use of Probability Distributions to Represent Random Variables -- Generating Values for Random Variables with Excel -- Executing Simulation Trials with Excel -- Measuring and Analyzing Simulation Output -- 14.2.Simulation Modeling for Land Shark Inc. -- Spreadsheet Model for Land Shark -- Generating Values for Land Shark's Random Variables -- Executing Simulation Trials and Analyzing Output -- 14.3.Simulation Considerations -- Verification and Validation -- Advantages and Disadvantages of Using Simulation -- Summary -- Glossary -- Problems -- Case Problem: Four Corners -- Appendix 14.1 Land Shark Inc. Simulation with Analytic Solver Platform -- Appendix 14.2 Distribution Fitting with Analytic Solver Platform -- Appendix 14.3 Simulation Optimization with Analytic Solver Platform -- Appendix 14.4 Correlating Random Variables with Analytic Solver Platform -- Appendix 14.5 Probability Distributions for Random Variables -- ch. 15 Decision Analysis -- Analytics in Action: Phytopharm -- 15.1.Problem Formulation -- Payoff Tables -- Decision Trees -- 15.2.Decision Analysis Without Probabilities -- Optimistic Approach -- Conservative Approach -- Minimax Regret Approach -- 15.3.Decision Analysis with Probabilities -- Expected Value Approach -- Risk Analysis -- Sensitivity Analysis -- 15.4.Decision Analysis with Sample Information -- Expected Value of Sample Information -- Expected Value of Perfect Information -- 15.5.Computing Branch Probabilities with Bayes' Theorem -- 15.6.Utility Theory -- Utility and Decision Analysis -- Utility Functions -- Exponential Utility Function -- Summary -- Glossary -- Problems -- Case Problem: Property Purchase Strategy -- Appendix 15.1 Using Analytic Solver Platform to Create Decision Trees.

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