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Solution Manual for An Introduction to Management Science 15th Edition by Anderson

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By: Anderson

Edition: 15th Edition

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Solution Manual for An Introduction to Management Science 15th Edition by Anderson

Chapter 1

Introduction

 

 Learning Objectives

 

  1. Develop a general understanding of the management science/operations research approach to decision making.

 

  1. Realize that quantitative applications begin with a problem situation.

 

  1. Obtain a brief introduction to quantitative techniques and their frequency of use in practice.

 

  1. Understand that managerial problem situations have both quantitative and qualitative considerations that are important in the decision making process.

 

  1. Learn about models in terms of what they are and why they are useful (the emphasis is on mathematical models).

 

  1. Identify the step-by-step procedure that is used in most quantitative approaches to decision making.

 

  1. Learn about basic models of cost, revenue, and profit and be able to compute the breakeven point.

 

  1. Obtain an introduction to the use of computer software packages such as Microsoft Excel in applying quantitative methods to decision making.

 

  1. Understand the following terms:

 

model                                                     infeasible solution

objective function                               management science

constraint                                             operations research

deterministic model                             fixed cost

stochastic model                                 variable cost

feasible solution                                  breakeven point

 

Solutions:

 

  1. Management science and operations research, terms used almost interchangeably, are broad disciplines that employ scientific methodology in managerial decision making or problem solving. Drawing upon a variety of disciplines (behavioral, mathematical, etc.), management science and operations research combine quantitative and qualitative considerations in order to establish policies and decisions that are in the best interest of the organization.

 

  1. Define the problem

 

Identify the alternatives

 

Determine the criteria

 

Evaluate the alternatives

 

Choose an alternative

 

For further discussion see section 1.3

 

  1. See section 1.2.

 

  1. A quantitative approach should be considered because the problem is large, complex, important, new and repetitive.

 

  1. Models usually have time, cost, and risk advantages over experimenting with actual situations.

 

  1. Model (a) may be quicker to formulate, easier to solve, and/or more easily understood.

 

  1. Let d = distance

m = miles per gallon

c = cost per gallon,

 

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DescriptionBy: Anderson Edition: 15th Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant DownloadEdition: 11th Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Brigham Edition: 15th Edition Format: Downloadable ZIP Fille Resource Type: Test bank Duration: Unlimited downloads Delivery: Instant DownloadBy: Stevenson Edition: 13th Edition Format: Downloadable ZIP Fille Resource Type: Solution Manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Stevenson Edition: 6th Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Starks Edition: 9th Edition Format: Downloadable ZIP Fille Resource Type: Solution Manual Duration: Unlimited downloads Delivery: Instant Download
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Solution Manual for An Introduction to Management Science 15th Edition by Anderson

Chapter 1 Introduction    Learning Objectives  
  1. Develop a general understanding of the management science/operations research approach to decision making.
 
  1. Realize that quantitative applications begin with a problem situation.
 
  1. Obtain a brief introduction to quantitative techniques and their frequency of use in practice.
 
  1. Understand that managerial problem situations have both quantitative and qualitative considerations that are important in the decision making process.
 
  1. Learn about models in terms of what they are and why they are useful (the emphasis is on mathematical models).
 
  1. Identify the step-by-step procedure that is used in most quantitative approaches to decision making.
 
  1. Learn about basic models of cost, revenue, and profit and be able to compute the breakeven point.
 
  1. Obtain an introduction to the use of computer software packages such as Microsoft Excel in applying quantitative methods to decision making.
 
  1. Understand the following terms:
  model                                                     infeasible solution objective function                               management science constraint                                             operations research deterministic model                             fixed cost stochastic model                                 variable cost feasible solution                                  breakeven point   Solutions:  
  1. Management science and operations research, terms used almost interchangeably, are broad disciplines that employ scientific methodology in managerial decision making or problem solving. Drawing upon a variety of disciplines (behavioral, mathematical, etc.), management science and operations research combine quantitative and qualitative considerations in order to establish policies and decisions that are in the best interest of the organization.
 
  1. Define the problem
  Identify the alternatives   Determine the criteria   Evaluate the alternatives   Choose an alternative   For further discussion see section 1.3  
  1. See section 1.2.
 
  1. A quantitative approach should be considered because the problem is large, complex, important, new and repetitive.
 
  1. Models usually have time, cost, and risk advantages over experimenting with actual situations.
 
  1. Model (a) may be quicker to formulate, easier to solve, and/or more easily understood.
 
  1. Let d = distance
m = miles per gallon c = cost per gallon,  

Solution Manual for Statistics for Management and Economics 11th Edition by Keller

Chapter 1

1.2 Statistics for Management and Economics  Descriptive techniques summarize data. Inferential techniques draw inferences about a population based on sample data. 1.3 Statistics for Management and Economics  a The population is the 25,000 registered voters. b The sample is the 200 registered voters. cThe 48% figure is the statistic   1.4 Statistics for Management and Economics  a The population is the complete production run. b The sample is comprised of the 1,000 chips. c The parameter is the proportion of defective chips in the production run. d The statistic is the proportion of defective chips in the sample. e The 10% figure refers to the parameter. fThe 7.5% figure refers to the statistic. g We can estimate the population proportion is 7.5%. Statistical inference methods will allow us to determine whether we have enough statistical evidence to reject the claim.as the sample proportion.   1.5 Statistics for Management and Economics  Draw a random sample from the population of graduates who have majored in your subject and a random sample of graduates of other majors and record their highest salary offers.   1.6 Statistics for Management and Economics  a Flip the coin (say 100 times) and record the number of heads (assuming that you are interested in the number of heads). b The population is composed of the theoretical result of flipping the coin an infinite number of times and recording either “heads” or “tails”. cThe sample is comprised of the “heads” and “tails” in the sample. d The parameter is the proportion of heads (again assuming that your interest is the number of heads rather than tails) in the population. e The statistic is the proportion of heads (or tails depending on the choice made in part d). fThe sample statistic can be used to judge whether the coin is actually fair.   1.7 a We would conclude that the coin is not fair. b We may conclude that there is some evidence that the coin is not fair.   1.8 aThe population is made up of the propane mileage of all the cars in the fleet. b The parameter is the mean propane mileage of all the cars in the fleet. c The sample is composed of the propane mileage of the 50 cars. d The statistic is the mean propane mileage of the 50 cars in the sample. e We can use the sample statistic to estimate the population parameter.

Test Bank for Fundamentals of Financial Management 15th Edition by Brigham

Note that there is an overlap between the T/F and multiple-choice questions, as some of the T/F statements are used in multiple-choice questions.   Multiple Choice: True/False  
 
1. In most corporations, the CFO ranks under the CEO.
a.True
b.False
 
ANSWER:  True
POINTS:  1
DIFFICULTY:  EASY
REFERENCES:  1-1 What Is Finance?
QUESTION TYPE:  True / False
HAS VARIABLES:  False
PREFACE NAME:  T/F
LEARNING OBJECTIVES:  FOFM.BRIG.17.01.01 - What Is Finance?
NATIONAL STANDARDS:  United States - BUSPROG.FOFM.BRIG.17.06 - Reflective thinking
STATE STANDARDS:  United States - OH - DISC.FOFM.BRIG.17.06 - Finance function
LOCAL STANDARDS:  United States - OH - Default City - Students will understand and be - Students will understand and be able to articulate the goals of the firm, the role of the finance function in the enterprise's organization, and as an analyst using public information.
TOPICS:  Role of finance
KEYWORDS:  Bloom's Knowledge
DATE CREATED:  9/21/2017 3:15 PM
DATE MODIFIED:  9/21/2017 3:15 PM
 
2. The Chairman of the Board must also be the CEO.
a.True
b.False
 
ANSWER:  False
POINTS:  1
DIFFICULTY:  EASY
REFERENCES:  1-1 What Is Finance?
QUESTION TYPE:  True / False
HAS VARIABLES:  False
LEARNING OBJECTIVES:  FOFM.BRIG.17.01.01 - What Is Finance?
NATIONAL STANDARDS:  United States - BUSPROG.FOFM.BRIG.17.06 - Reflective thinking
STATE STANDARDS:  United States - OH - DISC.FOFM.BRIG.17.06 - Finance function
LOCAL STANDARDS:  United States - OH - Default City - Students will understand and be - Students will understand and be able to articulate the goals of the firm, the role of the finance function in the enterprise's organization, and as an analyst using public information.
TOPICS:  Role of finance
KEYWORDS:  Bloom's: Knowledge
DATE CREATED:  9/21/2017 3:15 PM
DATE MODIFIED:  9/21/2017 3:15 PM
 

Solution Manual for Operations Management 13th Edition by Stevenson

chapter 19 Linear Programming Teaching Notes The main goal of this supplement is to provide students with an overview of the types of problems that have been solved using linear programming (LP). In the process of learning the different types of problems that can be solved with LP, students also must develop a very basic understanding of the assumptions and special features of LP problems of management test bank. Students also should learn the basics of developing and formulating linear programming models for simple problems, solve two-variable linear programming problems by the graphical procedure, and interpret the resulting outcome. In the process of solving these graphical problems, we must stress the role and importance of extreme points in obtaining an optimal solution. Improvements in computer hardware and software technology and the popularity of the software package Microsoft Excel make the use of computers in solving linear programming problems accessible to many users. Therefore, a main goal of the chapter should be to allow students to solve linear programming problems using Excel. More importantly, we need to ensure that students are able to interpret the results obtained from Excel or any another computer software package. Answers to Discussion and Review Questions
  1. Linear programming is well-suited to constrained optimization problems that satisfy the following assumptions:
  2. Linearity: The impact of decision variables is linear in constraints and the objective function.
  3. Divisibility: Noninteger values of decision variables are acceptable.
  4. Certainty: Values of parameters are known and constant.
  5. Nonnegativity: Negative values of decision variables are unacceptable.
  6. The “area of feasibility,” or feasible solution space is the set of all combinations of values of the decision variables that satisfy all constraints. Hence, this area is determined by the constraints.
  7. Redundant constraints do not affect the feasible region for a linear programming problem. Therefore, they can be dropped from a linear programming problem without affecting the feasible solution space or the optimal solution.
  8. An iso-cost line represents the set of all possible combinations of two input decision variables that result in a given cost. Likewise, an iso-profit line represents all of the possible combinations of two output variables that results in a given profit.
  9. Sliding an objective function line towards the origin represents a decrease in its value (i.e., lower cost, profit, etc.). Sliding an objective function line away from the origin represents an increase in its value.
  10. a. Basic variable: In a linear programming solution, it is a variable not equal to zero.
  11. Shadow price: It is the change in the value of the objective function for a one-unit change in the right-hand-side value of a constraint.
  12. Range of feasibility: The range of values for the right-hand-side value of a constraint over which the shadow price remains the same.
  13. Range of optimality: The range of values over which the solution quantities of all the decision variables remain the same.
Solution to Problems
  1. a. Graph the constraints and the objective function:
  Material constraint: 6x1 4x2 ≤ 48 Replace the inequality sign with an equal sign: 6x1 4x2 = 48 Set x1 = 0 and solve for x2: 6(0) 4x2 = 48 4x2 = 48 x2 = 12 One point on the line is (0, 12). Set x2 = 0 and solve for x1: 6x1 4(0) = 48 6x1 = 48 x1 = 8 A second point on the line is (8,0).   Labor constraint: 4x1 8x2 ≤ 80 Replace the inequality sign with an equal sign: 4x1 8x2 = 80 Set x1 = 0 and solve for x2: 4(0) 8x2 = 80 8x2 = 80 x2 = 10 One point on the line is (0, 10). Set x2 = 0 and solve for x1: 4x1 8(0) = 80 4x1 = 80 x1 = 20 A second point on the line is (20, 0).   Objective function: Let 4x1 3x2 = 24. Set x1 = 0 and solve for x2: 4(0) 3x2 = 24 3x2 = 24 x2 = 8 One point on the line is (0, 8). Set x2 = 0 and solve for x1: 4x1 3(0) = 24 4x1 = 24 x1 = 6 A second point on the line is (6, 0).   The graph and the feasible solution space (shaded) are shown below:

Solution Manual for Operations Management 6th CANADIAN Edition by Stevenson

Chapter No 1 INTRODUCTION TO Operations Management Teaching Notes The initial meeting with the class (the first chapter) is primarily to overview the course (and textbook), and to introduce the instructor and his/her interest in Operations Management (OM). The course outline (syllabus), the objectives of the course and topics, chapters, and pages of text covered in the course, as well as problems/mini-cases, to be done in class, videos to watch, Excel worksheets to use, etc. are announced to the class. Many students may know little about OM and the types of jobs available. This point can be addressed in order to generate enthusiasm for the course. The Learning Objectives at the beginning of the chapter indicate the highlights of the chapter. Answers to Discussion and Review Questions
  1. Operations management is the management of processes (i.e., the sequence of activities and resources)that create goods and/or provide services.
 
  1. Production/operations planner/scheduler/controller, demand planner (forecaster), quality specialist, logistics coordinator, purchasing agent/buyer, supply chain manager, materials planner, inventory clerk/manager, production/operations manager.
 
  1. a.       Because a large % of a company’s expenses occur in the operations, e.g., purchasing materials and workforce salaries, more efficient operations can result in large increases in profits.
  2. A number of management jobs are in OM.
  3. Activities in all other areas of any organization are all interrelated with OM.
  4. Operations innovations lead to the marketplace and strategic benefits.
  5. The three major functions of organizations are operations, finance, and marketing. Operations is concerned with the creation of goods and services identified by marketing, finance is concerned with the provision of funds necessary for operations and investment of extra funds, and marketing is concerned with promoting and/or selling goods or services.
  6. The operations function consists of all activities that are directly related to producing goods or providing services. It adds value during the transformation process (the difference between the cost of inputs and the price of outputs). An operations manager manages the transformation function.                                                             He/she is responsible for planning and using the resources (labor, machines, and materials). The kind of work that operations managers do varies from organization to organization (largely because of the different goods or services involved). For example, a store/restaurant manager is in effect an operations manager. See Figure 1-6 for examples of typical activities performed by operations managers.
  7. Design decisions are usually strategic and long term (1–5 years or so ahead), whereas planning and control decisions are shorter term. In particular, planning decisions are tactical and medium-term (1–12 months or so ahead), and control decisions (including scheduling and execution) are short term (1–12 weeks or so ahead). Design involves decisions that relate to goods and service design, capacity, acquisition of equipment, the arrangement of departments, and location of facilities.Planning/control activities involve management of personnel, quality control/assurance, inventory planning and control, production planning, and scheduling.
 

Solution Manual for Concepts of Database Management 9th Edition by Starks

Chapter One: Introduction to Database Management

A Guide to this Instructor’s Manual:

We have designed this Instructor’s Manual to supplement and enhance your teaching experience through classroom activities and a cohesive chapter summary. This document is organized chronologically, using the same heading in red that you see in the textbook. Under each heading, you will find (in order): Lecture Notes that summarize the section, Figures and Boxes found in the section, if any, Teacher Tips, Classroom Activities, and Lab Activities. Pay special attention to TeacherTips and activities geared towards quizzing your students, enhancing their critical thinking skills, and encouraging experimentation within the software. In addition to this Instructor’s Manual, our Instructor’s Resources also include PowerPoint Presentations, Test Banks, Solutions to Exercises, and other supplements to aid in your teaching experience. You can access Instructor Resources via the Web at login.cengage.com. Table of Contents
Chapter Objectives1
1: BITS Company Background1
4: Database Solution2
10: Database Management Systems3
13: Advantages of Database Processing4
15: Disadvantages of Database Processing5
15: BigData5
16: Introduction to the colonial Adventure ToursDatabase Case6
21: Introduction to the Sports Physical Therapy Database Case6
End of Chapter Material7
Glossary of Key Terms7

Chapter Objectives

The learning objectives for chapter OneCare:  
  • Introduce Burk IT Solutions (BITS), the company that is used as the basis for many of the examples throughout the text
  • Introduce basic database terminology
  • Describe database management systems (DBMSs)
  • Explain the advantages and disadvantages of database processing
  • Introduce Colonial Adventure Tours, the company that is used in a case that appears at the end of each chapter
  • Introduce Sports Physical Therapy, the company that is used in another case that appears at the end of each chapter
1: BITS Company Background LECTURE NOTES
  • Describe the BITS company
  • Use Figure 1-1 to illustrate the problems associated with using spreadsheets to maintain this data
    • Redundancy
    • Difficulty accessing related data
    • Limited security features
    • Multiple updates
    • Size limitations
  • Define redundancy
    • Duplication of data or the storing of the same data in more than one place
  • Use the embedded Q & A on page 2 to discuss the problems redundancy causes
    • Wastes space
    • Makes changes more cumbersome
    • Can lead to inconsistencies
  • Use Figure 1-2 to introduce the type of data that BITS must be able to store and retrieve
    • Point out that the amounts in the Total column in Figure 1-2 are not stored in the database but are calculated
FIGURES: 1-1, 1-2 TEACHER TIPS Students will work with BITS in every chapter. They should become familiar with this fictitious company and the type of data it needs to maintain. The same type of data needs to be stored by other consulting companies or service providers. If you want to personalize the database, you have students add their name as a customer or you can have them rename the database using their own name rather than BITS. CLASSROOM ACTIVITIES
  1. Group Activities: Place students in groups and distribute order forms from local companies and/or retail stores. Ask the groups to determine the data the company must store and the data that is calculated.
  2. Class Discussion: Ask students what other types of data a service providers such as BITSwould need to maintain.
  3. Critical Thinking: BITS needs to maintain data on the consultants and what each one specializes in. Should BITS store this data in a spreadsheet? Why or why not?
4: Database Solution LECTURE NOTES
  • Define entity
    • Person, place, object, event, or idea for which you want to store and process data
  • Define attribute
    • Characteristic or property of an entity
    • Also called a field or column in many database systems
  • Use Figure 1-3 to point out the Consultant and Client entity and the attributes for each entity
  • Define relationship
    • An association between entities
  • Define one-to-many relationship
    • Each rep is associated with many customers, but each customer is associated with only one rep
  • Use Figure 1-4 to explain the one-to-many relationship between consultants and clients
  • Define data file
    • A file used to store data, such as a spreadsheet or word-processed document
  • Define database
    • A structure that can store information about multiple types of entities, the attributes of those entities, and the relationships among the entities
  • Point out the differences between a data file and a database
  • Use Figure 1-5 to review the tables (entities) that make up the BITS database
    • Consultant, Client, Tasks, OrderLine, Work Orders
  • Use Figure 1-6 to illustrate the problems with storing orders in the alternative table structure
  • Review the embedded Q & As on pages 8 through 9
  • Define entity-relationship (E-R)diagram
    • A visual way to represent a database
  • Use Figure 1-7 to illustrate an E-R diagram and review the entities, attributes, and relationships in the BITS database
FIGURES: 1-3, 1-4, 1-5, 1-6, 1-7 TEACHER TIPS Database concepts such as entity, attribute, and relationship are often difficult for students to grasp. Use examples that students can relate to, for example, a school database or a database maintained by the state department of public safety (driver’s licenses). A good analogy to use is an employment application form. The items that we complete on the form are attributes, and the completed application (entity example) describes the person who completed it. Figure 1-5 lists the five tables that make up the BITS database. Each table represents an entity. The data in the tables are related through common fields. It is these relationships that allow the user to access data from more than one table and produce reports, queries, and forms. Encourage students to use the embedded Q & As to test their understanding of the concepts as well as the design of the BITS database.  
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