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Overview
Written with the non-mathematician in mind, QUANTITATIVE METHODS FOR BUSINESS, 13E by award-winning authors Anderson, Sweeney, Williams, Camm, Cochran, Fry, and Ohlmann equips your students with a strong conceptual understanding of the critical role that quantitative methods play in today's decision-making process. This applications-oriented text clearly introduces current quantitative methods, how they work, and how savvy decision makers can most effectively apply and interpret data. A strong managerial orientation motivates learning by weaving relevant, real-world examples throughout. The authors' hallmark "Problem-Scenario Approach" helps readers understand and apply mathematical concepts and techniques. Instant online access provides students with Excel® worksheets, LINGO, and the Excel add-in Analytic Solver Platform. Using Microsoft Excel to develop spreadsheet simulation models, the thoroughly revised Chapter 16 explains how to construct a spreadsheet simulation model using only native Excel functionality, while the chapter appendix covers how the use of Excel add-in Analytic Solver Platform facilitates more sophisticated simulation analyses. Data Tables and Goal Seek Excel features were also added to Appendix A to help in the construction of spreadsheet simulation models. The 13th Edition includes a more holistic description of how variable activity times affect the probability of a project meeting a deadline, while maintaining simplicity by showing when using the critical path for these calculations is reasonable. In addition, numerous all-new Q.M. in Action vignettes, homework problems, and end-of-chapter cases are included throughout.
- Completely Revised and Updated Simulation Chapter. While the authors maintain Chapter 16's intuitive introduction by continuing the use of best-, worst-, and base-case scenarios, they also added a more elaborate treatment of uncertainty by using Microsoft Excel to develop spreadsheet simulation models. Chapter 16 thoroughly explains how to construct a spreadsheet simulation model using only native Excel functionality, while the chapter appendix covers how the use of an Excel add-in−Analytic Solver Platform−facilitates more sophisticated simulation analyses. This new appendix replaces the previous edition's coverage of Crystal Ball, which is no longer paired with the textbook.
- Data Tables and Goal Seek in Appendix A. These two Excel features were added to Appendix A, Building Spreadsheet Models, as they are particularly useful in the construction of spreadsheet simulation models in the completely revised Chapter 16.
- New Section on Variability in Project Management. The 13th Edition's new section on variability provides a more holistic description of how variable activity times affect the probability of a project meeting a deadline, while maintaining simplicity by showing when using the critical path for these calculations is reasonable. In contract, traditional coverage has focused solely on the critical path to estimate the probability of a project meeting a deadline (on average, the longest sequence of activities). However, this calculation is based on the implicit assumption that no other "non-critical" activity will become a bottleneck. In the presence of highly variable activities, the assumption may not be accurate, yet traditional coverage provides no insight on this.
- Adjustment of Forecasting Notation in Chapter 6. The notation in Chapter 6, Time Series Analysis and Forecasting, was adjusted to be more in line with "regression-style" standard notation for forecasting.
- Updated Q.M. in Action. The 13th Edition includes 15 all-new Q.M. in Action vignettes to provide the most recent examples available.
- New Cases: End-of-chapter student cases offer more in-depth and open-ended exercises than homework problems, giving students plenty of experience applying what they learn to real-world practice. This edition includes new cases on linear programming applications in Chapter 9, distribution and network models in Chapter 10, and integer programming in Chapter 11. Solutions to all cases are provided to instructors.
- New And Updated Homework Problems: The 13th Edition added more than 35 new homework problems as well as updated numerous others to ensure the timeliest references available.
- Helpful Margin Annotations Clarify Key Points For Students. Brief, informative annotations in the margins of the book highlight key information and offer additional insights for readers who wish to know more. Providing appropriate emphasis, these clear annotations enhance students' understanding of key terms and concepts.
- Notes and Comments Provide Additional Insights and Warnings About Methodology. At the end of many sections, "Notes & Comments" offer added information about the methodology being discussed and its application. Notes & Comments may include warnings or highlight limitations of the methodology, offer recommendations for applications, or provide brief technical considerations.
- Self-Test Exercises Let Students Instantly Check Comprehension Before Progressing. Helpful Self-Test Exercises enable students to immediately evaluate their understanding of chapter concepts before advancing to the next topic. Completely worked-out Self-Test solutions appear in an appendix in addition to the solutions for even-numbered problems, as requested by past users.
- Engaging Q.M. in Action Articles Summarize Applications from Real-World Practice. Interesting Q.M. in Action articles throughout the text offer practical summaries of how quantitative methods apply in business today. The articles feature adaptations from INTERFACES and OR/MS TODAY as well as contributions from leading practitioners.
1. Introduction.
2. Introduction to Probability.
3. Probability Distributions.
4. Decision Analysis.
5. Utility and Game Theory.
6. Time Series Analysis and Forecasting.
7. Introduction to Linear Programming.
8. Linear Programming: Sensitivity Analysis and Interpretation of Solution.
9. Linear Programming Applications in Marketing, Finance, and Operations Management.
10. Distribution and Network Models.
11. Integer Linear Programming.
12. Advanced Optimization Applications.
13. Project Scheduling: PERT/CPM.
14. Inventory Models.
15. Waiting Line Models.
16. Simulation.
17. Markov Processes.
Appendix A: Building Spreadsheet Models.
Appendix B: Binomial Probabilities.
Appendix C: Poisson Probabilities.
Appendix D: Areas for the Standard Normal Distribution.
Appendix E: Values for e-λ.
Appendix F: References and Bibliography.
Appendix G: Self-Test Solutions and Answers to Even-Numbered Problems.
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- ISBN-10: 0357685644
- ISBN-13: 9780357685648
- RETAIL $84.95
- ISBN-10: 1285866312
- ISBN-13: 9781285866314
- RETAIL $264.95