BIAM 500 Week 2 Course Project, Lab, Discussion


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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.
  1. Describe the problem that a large company, such as HP, might face in offering many product lines and options.
  2. Why is there a possible conflict between marketing and operations?
  3. Summarize your understanding of the models and the algorithms used in this case.
  4. What benefits did HP derive from implementation of these models?biam 500 week 2