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B6015: Decision Models
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Download more sample questions for the final with solutions More Sample Finals Solutions to new sample final
Download solution to Homework 2: download homework2sol.dochomework2sol.xls
Review Session Schedule for the exam: Monday Aug 7, 10AM, Room 142 Uris (Joern), download review06.pdf, Wednesday Aug 9, 10AM, Room 142 Uris (Joern), download review07.pdf, Friday Aug 11, 10AM, Room 142 Uris (Joern and Sebastian), Tuesday Aug 15, 6PM , Room 301 Uris (Sebastian).
The main case is due Aug. 11
Problem for the review session, you should try it before friday review04.pdf
Problem for the review session, you should try it before friday review03.pdf
Need
help with Excel's Solver: Check out this page: SolverFAQ
Crystal Ball Software: As described in the syllabus, the course will
use a piece of software called Crystal Ball version 2000. The
software will be distributed to the students in class. We will start using it
in class in Lecture 9. If you go to the bookstore you might see Crystal
Ball Version 4.0 (an earlier version that does not work with Office 2000).
That version is there for students of a different course (Exec MBA - B7015).
Do
not buy Version 4.0 from the bookstore!
Didn't get a readings book? There should be extra copies in 208
Warren.
Getting started with Solver: To get started using solver, simply go
to Excel and then choose Tools|Solver. If Solver is not there, then
you will need to go to Tools|AddIns and check off "Solver Add In".
Then click OK and go back to the Tools menu. Now solver should be
there. Check the SolverFAQ
file for additional help.
Article from WSJ on decision models in the airline industry: wsj-article.pdf
SolverTable can be downloaded here.
NOTE: If you cannot get SolverTable to work on your computer, then you
will have to resolve the problems as we usually do (go to solver, hit solve).
It is not absolutely essential that you get SolverTable working.
Adobe
Acrobat Reader: All lecture notes on this web page are saved in PDF
format. They can be viewed and printed using Adobe Acrobat Reader (To download
click here
and follow the instructions.)
Solution to Homework 1 Homework1 solution (pdf) Homework1 solution (excel) (Available after 5pm Wednesday)
sc244@columbia.edu | ljr@urbitran.com |
417 Uris / 854-5685 | 3rd Floor Uris / 212-366-6200 x1224 |
Office Hours: Wednesdays 12-2pm | Office Hours: Tues & Thurs 2-3pm |
jm531@columbia.edu | bw148@columbia.edu |
Cubicle 4W | Cubicle 5R |
Office Hours: Wed 4:00-6:00pm | Office Hours: Tues. 10am -12pm |
This course provides an introduction to computer-based models for decision making. The emphasis is on models that are widely used in diverse industries and functional areas, including finance, accounting, operations, and marketing. Applications will include production planning, supply chain management, foreign exchange and commodity trading, asset-liability management, portfolio optimization, corporate risk management, and yield management, among others.
The aim of the course is to help students become intelligent consumers of these methods. To this end, the course will cover the basic elements of modeling --- how to formulate a model and how to use and interpret the information a model produces. The course will attempt to instill a critical viewpoint towards decision models, recognizing that they are powerful but limited tools.
The applicability and usage of computer-based models
have increased dramatically in recent years, due to the extraordinary improvements
in computer, information and communication technologies, including not
just hardware but also model-solution techniques and user interfaces. Twenty
years ago working with a model meant using an expensive mainframe computer,
learning a complex programming language, and struggling to compile data
by hand; the entire process was clearly marked "experts only." The rise
of personal computers, friendly interfaces (such as spreadsheets), and
large data bases has made modeling far more accessible to managers. Information
has come to be recognized as a critical resource, and models play a key
role in deploying this resource, in organizing and structuring information
so that it can be used productively.
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We will use spreadsheets fairly extensively throughout
the course. In the lectures we will refer to the Excel 97 spreadsheet
package for Windows 95. This spreadsheet has extensive optimization capabilities
built in. Crystal Ball is an add-in for Excel which makes it much easier
to run simulations in a spreadsheet.
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There will be two homework assignments that will be assigned during the course. The homeworks are individual assignments, and are designed as practice for the final exam. The main case case can be done in groups of five or less and is due Friday, August 11. In addition for many of the class sessions, you will be asked to prepare a case for discussion in class.
The readings book has a set of practice problems.
Many of these practice problems were based on past midterm and final examination
questions. Some spreadsheets (in Excel .XLS format) related to these problems
can be downloaded at the bottom of this page. The TA will go over the solutions
to selected problems during the Friday review sessions or during office
hours. Additional practice problems can be found throughout the W&A
text.
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There will be four hours for the final exam, although
most students should be able to finish in three hours or less. The exam
will be open book and open notes. A common final exam will be used for
all sections of the course. Notebook computers will be needed in the final
exam. Think of the computer as a fancy calculator: it is useful for checking
one's work and for some questions the computer will be needed to get final
answers. However, the majority of the points on the exam will be given
for correct methods and analysis; correct numbers will only count for a
small portion of the points. Printing will not be allowed in the final
exam. Any answers from the computer must be transcribed into the answer
book.
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The course grade will be based on a weighted average
of the homeworks, main case, and the final exam. The weights will be 20%
for the homeworks, 30% for the main case, and 50% for the final.
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Notebook PCs will be used in this course. It is recommended
that students bring their notebook PCs to the Friday review sessions for
software-related questions. Students should bring their notebook PCs to
class on Lecture 8. Also, notebook computers will be needed for the final
exam.
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There will be weekly review sessions for the course.
They will be held in Fridays from 1:20-2:40pm, Room TBA. The
TA will go over practice problems and answer any computer related questions.
It is recommended that students bring their notebook PCs to the Friday
review sessions for software-related questions.
In the following table, we list the practice problems
that will be covered (if time permits) in the review sessions. These
problems can be found in your readings book. Solutions to these problems
can also be found in the readings book. The Excel files can be found
at the bottom of this page.
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Date | Topic | For next class | Download | |
Lecture 1 | Mon 6/26 |
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bland0.xls bland.xls |
Lecture 2 | Wed 6/28 |
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trans0.xls trans.xls staffing0.xls staffing.xls shelby0.xls shelby.xls shelby-tables.xls petromor.pdf |
Lecture 3 | Mon 7/10 |
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petromor0.xls petromor.xls shelby-ST.xls |
Lecture 4 | Wed 7/12 |
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nsc0.xls nsc.xls projfund0.xls projfund.xls projfund-with-ST.xls |
Lecture 5 | Fri 7/14 |
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plant0.xls plant.xls plant_if.xls invest0.xls invest.xls invest-ST.xls EmoryU-Article |
Lecture 6 | Mon 7/17 |
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ten-stocks.xls ten-stocks0.xls ten-stocks-with-shorting.xls ten-stocks-with-int.xls negcorrel.xls highcorrel.xls lowcorrel.xls |
Lecture 7 | Wed 7/19 |
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gold.xls gold0.xls retail.xls retail-zip-file |
Lecture 8 | Mon 7/24 |
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ret_lp0.xls ret_lp.xls |
Lecture 9 | Wed 7/26 |
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coin.xls asianoil0.xls asianoil.xls |
Lecture 10 | Mon 7/31 |
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ski0.xls ski.xls ski2.xls |
Lecture 11 | Wed 8/2 |
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merck_u0.xls merck_u.xls merck0.xls merck.xls |
Lecture 12 | Thu 8/3 |
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putnam.xls putnam0.xls premier.xls premier0.xls |
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Final Exam | 8/17: 9am-1pm
Open Book, Open Notes, Bring your computer! |
SampleSolutions.pdf briton.xls nifty.xls |
# | Name | Excel Files |
ZIP | All Optimization Practice Problem Files (Zipped) | optprobs.zip |
1 | ABC Manufacturing | abc.xls |
2 | B. Hall Real Estate Investment | hall_inv.xls |
3 | Joe's Delicatessen | deli.xls and deli2.xls |
4 | Bland Brewery Graphical Solution | bland2.xls |
5 | Advertising Mix | advr.xls |
6 | Power Plant | pplant.xls |
7 | Police Scheduling | sched.xls and sched_b.xls |
8 | Ajax Shoe Company | ajax.xls |
9 | Pension Problem | pension.xls |
10 | Tax Planning | taxlp.xls |
11 | Devcor Corporation | devcor.xls and devcor_b.xls |
12 | Options Problem | option_a.xls, option_c.xls and option_d.xls |
13 | Veggie Soup | veggie.xls |
14 | Calico Cassette | ccc.xls and ccc_b.xls |
15 | Dale Distribution System | dale.xls |
16 | Hackensack Blended Whiskey | whiskey.xls |
# | Name | Excel Files |
ZIP | All Simulation Practice Problem Files (Zipped) | simprobs.zip |
1 | Express Mail Staffing | mail.xls |
2 | Bakery Department | bakery.xls |
3 | Bond Return | bond.xls |