BIAM 500 WEEK 2 DATA MODELING AND DECISION MAKING

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BIAM 500 Week 2 Complete Work DeVry

BIAM 500 WEEK 2 DATA MODELING AND DECISION MAKING

Read the end-of-chapter application case “HP Applies Management Science Modeling to Optimize Its Supply Chain and Wins a Major Award” at the end of Chapter 10 in the textbook, and answer the following questions.
  1. Describe the problem that a large company, such as HP, might face in offering many product lines and options.
  2. Why is there a possible conflict between marketing and operations?
  3. Summarize your understanding of the models and the algorithms used in this case.
  4. What benefits did HP derive from implementation of these models?

BIAM 500 WEEK 2 COURSE PROJECT

Topic Selection

Write a one-paragraph description of the topic you have selected for your paper. The topic should be an emerging trend in data analytics. It may be one of those discussed in Chapter 14 of the textbook or one you discovered through your own research. The professor may require that you change or refine your proposed topic. See the Course Project page in the Introduction & Resources area under Modules for details.

Don’t forget to submit your assignment.

BIAM 500 Week 2 Lab

Rubric-500

Week 2 Lab Rubric-500
Criteria Ratings Pts

Step 1: Creation of Formulas with Constraints

Touring Bike Model Mix sheet has correct set up of problem with all parameter values, constraints, and formulas.
15.0 pts

Step 2: Use Solver to find an optimal solution.

Objectives, variables, constraints, and solution method are correctly set in the Solver dialog, and the correct optimal production quantities are shown on the Touring Bike Model Mix sheet. Answer, sensitivity, and limits reports for the solution were generated correctly.
15.0 pts

Step 3: Perform Sensitivity Analysis

Perform sensitivity analysis showing how changing parameters by plus or minus 10% affects the solution. A scenario summary sheet was created showing how the optimal product mix is affected by changing the gross profit per unit of each model by plus or minus 10% compared to the original solution.
15.0 pts

Step 4: Create Monte Carlo Simulation

Monte Carlo simulation calculates and charts the average gross profit over 100 simulations for the specified range of production quantities.
15.0 pts

Step 5: Opinion Paper

Write a one-page paper explaining your findings and making recommendations. Paper is in APA format, free of typographical, spelling, and grammar errors, and clearly states appropriate findings and recommendations from the analysis.
10.0 pts
Total Points: 70.0
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