Discussion:
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?
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.
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?
Review and Reflection
Review and reflect on what you learned in the past 8 weeks. What is the most practical and easily applied lesson you learned? What was the hardest to grasp? Why? What else do you need to know about Quantitative Analysis?