Question
WEEK 1
W1 Assignment “Probability Concepts and Applications”
Answer the following questions:
1. Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.
2. Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how ‘understanding distribution’ can be an asset for any business project.
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.
WEEK 2
Question #1:
Decision Analysis
Select an organization you have worked for or any organization of interest and discuss how decision analysis could be used to solve a business problem.
Describe a decision tree and discuss how such a tool can be utilized to improve decision making.
Question #2:
Regression Models
1. What benefit does a variable provide when developing and examining models?
2. Explain the purpose of simple linear regression and scatter diagrams. Please provide a simple linear regression model and define each variable used.
3. Describe multiple regression analysis and discuss potential uses for this mode
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.
WEEK 3
Question 1:
Foecasting
Discuss the different types of forecasts to include time-series, causal, and qualitative models.
When might a researcher or project manager utilize exponential smoothing?
What benefit does a Delphi technique provide when working with qualitative-based decision making?
Question #2:
Answer the following questions:
1. Discuss the importance of inventory control with respect to supply and demand.
2. What benefit can tools such as ABC analysis and just-in-time controls provide for an organization?
3. How can an enterprise resource planning system assist a firm with improving its business operations?
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.
WEEK 4
Question #1:
Introduction to Linear Programming
Discuss the requirements of a linear programming (LP) model. Provide an example of an LP model and define each variable used. What are the key steps that need to be considered when formulating an LP problem?
Question #2:
Marketing Research
Answer the following questions:
1. What benefit would be gained by utilizing linear programming (LP) for marketing research?
2. Discuss and provide a basic example of how LP can be used for marketing and/or consumer research.
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.
WEEK 5
Question #1: (answer roughly 150 words)Network Models
Discuss the benefits provided by network modeling.
Describe how the shortest-route and maximal-flow techniques can be utilized. Please provide an example of one of these techniques.
Question #2: Project Management
Answer the following questions:
1. Discuss how project management techniques can be used to improve the completion of projects. With this in mind, discuss the role of start and finish times with respect to project completion time.
2. Explain the role of software in project management.
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.
WEEK 6
Question #1: (Roughly 150 words) Waiting Lines
Discuss the significance of waiting line costs.
Here, ensure to address the importance of satisfied customers, arrival points, and service characteristics.
Question #2: Queuing Theory
Answer the following questions
1. Discuss the advantages and disadvantages of queuing theory for an organization in the service industry.
2. What benefits are provided by the constant service time model?
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.
WEEK 7
Question #1:Benefits of Simulation
Discuss the many costs that businesses face today. Is it always practical to test new ideas via a ‘real life’ study – with participants, facilities, etc? If not, how can a simulation be utilized to test ideas while keeping costs manageable?
If a simulation is used, what steps are needed in order to have a successful model?
Question #2: Simulation Modeling Research
Answer the following question
1. Use the internet to conduct research on popular simulation modeling software applications. Find two applications to compare by examining the costs, features, and training requirements.
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.
WEEK 8
Final Project
Answer the following question in three to five pages:
1. Using what you have researched and studied throughout Modules 1 – 7, write a report addressing a quantitative analysis (QA) project. Here, you are asked to select a business of interest and develop QA best practices that can be developed and implemented to increase revenues and/or to decrease costs. Please provide at least three mathematical examples supporting your recommendations.
Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.