Description
BIAM 500 Week 2 Course Project – Topic Selection
BIAM 500 Week 2: 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.
BIAM 500 Week 2 Lab
Step 1: Creation of Formulas with Constraints
Step 2: Use Solver to find an optimal solution
Step 3: Perform Sensitivity Analysis
Step 4: Create Monte Carlo Simulation
Step 5: Opinion Paper
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.
- Describe the problem that a large company, such as HP, might face in offering many product lines and options.
- Why is there a possible conflict between marketing and operations?
- Summarize your understanding of the models and the algorithms used in this case.
- What benefits did HP derive from implementation of these models?
