BIAM 500 Week 2 Complete Work DeVry
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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
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Week 2 Lab Rubric-500
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Criteria
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Ratings
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Pts
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This criterion is linked to a
Learning OutcomeStep 1: Creation
of Formulas with Constraints
Touring Bike Model Mix sheet has
correct set up of problem with all parameter values, constraints, and formulas.
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15.0 pts
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This criterion is linked to a
Learning OutcomeStep 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.
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15.0 pts
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This criterion is linked to a
Learning OutcomeStep 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.
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15.0 pts
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This criterion is linked to a
Learning OutcomeStep 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.
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15.0 pts
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This criterion is linked to a
Learning OutcomeStep 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.
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10.0 pts
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Total
Points: 70.0
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