KeiserUniversity LATIN AMERICAN - SAN MARCOS San Marcos, Carazo, Nicaragua 505-2535-2314 Course Number and Name: BUSN

305. SPREADSHEET MODELS FOR MANAGERIAL DECISION MAKING. Course Date: M W F Course Hours: 9:00 A.M. 9:50 A.M. Semester: SPRING 2014 Number of Sessions: 45 CreditHours: 3 Instructor: SALVADOR L. LOPEZ G. MPA/ITP MIA/PAF Office Phone: 505-25352314 EXT 179 Office Hours: T TH 10 12 A.M. M W 2 4 P.M. E-mail: leopoldo.lopez@keiseruniversity.edu Required Textbook(s): TEXTBOOK TITLE: Quantitative Analysis for Management PUBLISHERS NAME: Pearson EDITION, YEAR: 11ed, 2012 AUTHORS NAME: Render/Stair/Hanna TEXTBOOK COMPANION WEB SITE: http://wps.prenhall.com/bp_render_qam_10/ Course Description: Formulation and solution of business problems using operations research techniques in a spreadsheet environment. Techniques of linear and integer programming, decision analysis, network optimization, queuing, and simulation. Applications from marketing, finance, and operations. Teaching Methods: The predominant form of instructional delivery will be an interactive lecture format, in which students are actively involved in the process. Occasional in-class group assignments will be given. Some types of material are best mastered by reading, some through lecture, some through independent assignments, some through computer labs, and others through working

problems. This course seeks to allocate subject areas and methods to the mechanisms that best teach them. Some of the material in BUSN 305 is designed to acquaint you with the use of the microcomputer in financial analysis and life. We encourage computer use whenever appropriate. Several of the problems that will appear on the problem sets require, or at least are suited for, the use of a computer.You will be expected to master a minimum of skills with a spreadsheet in order to complete the material for the course. You may also be expected to obtain information via the Internet. Course Topics: COURSE CONTENT: Introduction to Quantitative Analysis Probability Concepts and Applications Decision Analysis Regression Models Forecasting Linear Programming Models: Graphical and Computer Methods Linear Programming Modeling Applications:With Computer Analyses in Excel and QM for Windows Transportation and Assignment Models Project Management Simulation Modeling

Course Objectives:
Upon successful completion of this course, students will be able to: 1. Perform basic quantitative analyses for problems in management, accounting, and finance. a. Structure a problem. b. Develop a model to represent the problem mathematically. c. Employ solution procedures to find the best solution for the model. 2. Explain how quantitative methods are used a. Identify quantitative methods that are commonly used for particular issues or problems. b. Understand why certain quantitative methods are used to solve problems. 3. Interpret graphs and equations used in quantitative analyses. 4. Solve basic break-even problems. 5. Utilize forecasting tools. a. Describe the use of quantitative and qualitative forecasting techniques. b. Understand the importance of regression analysis 6. Identity problems in business that consist of a sequence of interrelated elements or activities/project to best meet the objective and manage the elements of a project throughout its duration. Student should be able to correctly solve basic PERT/CPM problems. Student should also be able to correctly interpret the output generated by Excel for application to their business problem.

Course Outline: 1) Week 1 Topic: Introduction to Quantitative Analysis Subtopics: o o o o o Introduction What Is Quantitative Analysis? The Quantitative Analysis Approach How to Develop a Quantitative Analysis Model The Role of Computers and Spreadsheet Models in the Quantitative Analysis Approach o Possible Problems in the Quantitative Analysis Approach o Implementation Not Just the Final Step Assigned Readings: Chapter 1. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 1 - 22 Objectives After completing this chapter, students will be able to: Describe the quantitative analysis approach. Understand the application of quantitative analysis in a real situation. Describe the use of modeling in quantitative analysis.

Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 19-20 Evaluation:Pre-Test Other activities: Syllabus distribution 2) Week 2: Topic: Probability Concepts and Applications Subtopics: Introduction Fundamental Concepts Mutually Exclusive and Collectively Exhaustive Events Statistically Independent Events

Statistically Dependent Events Revising Probabilities with Bayes Theorem Further Probability Revisions

Assigned Reading: Chapter 2. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 23 - 66 Objectives After completing this chapter, students will be able to: Understand the basic foundations of probability analysis. Describe statistically dependent and independent events. Use Bayes theorem to establish posterior probabilities. Describe and provide examples of both discrete and continuous random variables. Explain the difference between discrete and continuous probability distributions. Calculate expected values and variances and use the normal table. Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 60-64 Evaluation:Examination chapter 1 and 2 3) Week 3: Topic: Decision Analysis Subtopics: Introduction The Six Steps in Decision Making Types of Decision-Making Environments Decision Making under Uncertainty Decision Making under Risk Decision Trees How Probability Values Are Estimated by Bayesian Analysis Utility Theory Assigned Reading Chapter 3. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 69 115 Objectives
After completing this chapter, students will be able to:

List the steps of the decision-making process. Describe the types of decision-making environments. Make decisions under uncertainty. 4

Use probability values to make decisions under risk. Develop accurate and useful decision trees. Revise probability estimates using Bayesian analysis. Use computers to solve basic decision-making problems. Understand the importance and use of utility theory in decision making.

Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 105-111 Evaluation: Examination chapter 3 4) Week 4: COMPUTER LABS CHAPTERS 1 - 3 5) Week 5 and 6 Topic: Regression Models Subtopics: Introduction Scatter Diagrams Simple Linear Regression Measuring the Fit of the Regression Model Using Computer Software for Regression Assumptions of the Regression Model Testing the Model for Significance Multiple Regression Analysis Binary or Dummy Variables Model Building Nonlinear Regression Cautions and Pitfalls in Regression Analysis Assigned Reading: Quantitative Analysis for Management, 10th Render/Stair/Hanna, Pearson, 2009, pp. 117 155 Objectives After completing this chapter, students will be able to: Identify variables and use them in a regression model. Edition , by

Develop simple linear regression equations from sample data and interpret the slope and intercept. Compute the coefficient of determination and the coefficient of correlation and interpret their meanings. Interpret the F test in a linear regression model. List the assumptions used in regression and use residual plots to identify problems.

Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 144-148 Evaluation: Examination chapter 4 6) Week 7 Topic Forecasting Subtopics: Introduction Types of Forecasts Scatter Diagrams and Time Series Measures of Forecast Accuracy Time-Series Forecasting Models Monitoring and Controlling Forecasts Using the Computer to Forecast

Assigned Reading: Chapter 5. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 157 197 Objectives After completing this chapter, students will be able to: Understand and know when to use various families of forecasting models. Compare moving averages, exponential smoothing, and other time-series models. Seasonally adjust data. Understand Delphi and other qualitative decisionmaking approaches. Compute a variety of error measures. Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 191-197

Evaluation: Examination chapter 5 7) Week 8: Topic: Linear Programming Models: Graphical and Computer Methods Subtopics: o Introduction o Requirements of a Linear Programming Problem o Formulating LP Problems o Graphical Solution to an LP Problem o Solving Flair Furnitures LP Problem using QM for Windows and Excel o Solving Minimization Problems o Four Special Cases in LP o Sensitivity Analysis Assigned Reading: Chapter 7. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 255 310 Objectives After completing this chapter, students will be able to: Understand the basic assumptions and properties of linear programming (LP). Graphically solve any LP problem that has only two variables by both the corner point and isoprofit line methods. Understand special issues in LP such as infeasibility, unboundedness, redundancy, and alternative optimal solutions. Understand the role of sensitivity analysis. Use Excel spreadsheets to solve LP problems.

Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 298-306 Evaluation: Examination chapter 7 8) WEEK 9: Topic: Linear Programming Modeling Applications:With Computer Analyses in Excel and QM for Windows Subtopics: Introduction Marketing Applications

Manufacturing Applications Employee Scheduling Applications Financial Applications Transportation Applications Transshipment Applications Ingredient Blending Applications

Assigned Reading: Chapter 8. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 311-349 Objectives After completing this chapter, students will be able to: Model a wide variety of medium to large LP problems. Understand major application areas, including marketing, production, labor scheduling, fuel blending, transportation, and finance. Gain experience in solving LP problems with Excel Solver software. Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 338-349 Evaluation: Examination chapter 8 9) Week 10: COMPUTER LABS CHAPTERS 4, 5 AND 7 10) Week 11: Topic: Transportation and Assignment Models Subtopics: Introduction Setting Up a Transportation Problem Developing an Initial Solution: Northwest Corner Rule Stepping-Stone Method: Finding a Least-Cost Solution MODI Method Vogels Approximation Method: Another Way to Find an Initial Solution Unbalanced Transportation Problems Assigned Reading: Quantitative Analysis for Management, 10th Render/Stair/Hanna, Pearson, 2009, pp. 409-468 Edition , by

Objectives After completing this chapter, students will be able to: Structure LP problems for the transportation, transshipment, and assignment models. Use the northwest corner and stepping-stone methods. Solve facility location and other application problems with transportation models. Solve assignment problems with the Hungarian (matrix reduction) method.

Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 454-466 Evaluation: Examination chapter 9 11) Week 12: Topic: Project Management Subtopics: Introduction PERT/CPM PERT/Cost Project Crashing Other Topics in Project Management Assigned Reading: Chapter 12. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 543-584 Objectives After completing this chapter, students will be able to:
Understand how to plan, monitor, and control projects with the use of PERT and CPM. Determine earliest start, earliest finish, latest start, latest finish, and slack times for each activity, along with the total project completion time. Reduce total project time at the least total cost by crashing the network using manual or linear programming techniques. Understand the important role of software in project management.

Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 574-579 Evaluation: Examination chapter 12

12) Week 13: COMPUTER LABS CHAPTERS 9 and 12 13) Week 14: Topic:Simulation Modeling Subtopics: Introduction Advantages and Disadvantages of Simulation Monte Carlo Simulation Simulation and Inventory Analysis Simulation of a Queuing Problem Fixed Time Increment and Next Event Increment Simulation Models Simulation Model for a Maintenance Policy Two Other Types of Simulation Verification and Validation Role of Computers in Simulation

Assigned Reading: Chapter 14. Quantitative Analysis for Management, 10th Edition , by Render/Stair/Hanna, Pearson, 2009, pp. 625-668 Objectives After completing this chapter, students will be able to: Tackle a wide variety of problems using simulation. Understand the seven steps of conducting a simulation. Explain the advantages and disadvantages of simulation. Develop random number intervals and use them to generate outcomes. Understand alternative computer simulation packages available.

Learning Activities: Lecture, Class discussion, Problem Solving, Collaborative learning activities Assignments: Discussion Questions and Problems pag. 661-666 Evaluation: Examination chapter 14 14) Week 15: COMPUTER LABS CHAPTER 14 SIMULATION

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Important Dates
Last Day to drop/add classes w/o financial penalty Martin Lither King Day Official Count Day: Last day to enter a class or Change to Audit without special permission. Last day to drop without W grade Faculty Forum Classes dropped after this date become an F Presidents Day Holiday Mid-Term Grades due to Records Office Easter Holiday (Campus Closed) Labor Day Holiday (Campus Closed No Classes) Last day of classes Final Examinations Week January 17 January 20 February 7 February 13 February 14 February 17 February 24 April 14 - 21 May 1 May 2 May 5 12

Class Policies: You are expected to abide by the rules and procedures set in place by Keiser University and policies related to this class as follows; Electronic Media All cell phones and other devices such as laptops and tablets must be silenced or turned off during class time unless prior arraignments have been made with the Professor or being utilized for a specific assignment Business professional and in adherence to the rules and procedures set in place by Keiser University. Males: Shirt and tie with shirts tucked in.Business professional attire does not include jerseys, t- shirts, jeans, shorts or work uniforms Females:Conservative cut; blouse, jersey, slacks, skirts, dresses and shoes. Business professional attire does not include tank tops, low cut/cleavage revealing or form fitting club attire, beach sandals, jeans, leggings, shorts or work uniforms. Absences in excess of 20% of class hours, for any subject, may cause a student to be ineligible to take the 1% deduction from your class participation grade for each observed incident

Dress Code

First infraction warning Second infraction- you will be sent home to change Third infraction referral to the Dean You will receive a 0 for any missed work addressing Dress Code infractions.

Attendance

If you are absent 6 classes or a total of 450 Minutes, you will not be permitted to 11

Make-up/Extra Credit Policy

final examination in that course. Excessive absences may also result in the following administrative actions: attendance warning, probation, suspension or dismissal. Students must be in attendance by the third class meeting or they are not permitted to begin a course. In an emergency which causes a student to be absent, it is the student's responsibility to make arrangements with the instructor to complete missed work. (Keiser University, 2012-13, Academic Catalog). Attendance will be taken at the beginning of every class. Minutes late will be counted against your attendance. Punctual and consistent attendance is used to your benefit in borderline grade situation. If you are absent from a class, you are responsible to inform the instructor and to get the information you missed from your classmates. If you are absent for any reason, your work is due on the due date, not when you return. Students must complete assignments and examinations when they are due, unless the student has given the instructor ample notice with appropriate documentation upon instructors request. There will be opportunities to earn extra (Bonus) credit in class as part of the weekly assessments. Make up work will only be permitted in approved situations and is due the next class

take the Final Exam.

All approved made up work will result in 10% deduction.

Code of Conduct: [From KU 2012-2013 Catalog] Keiser University Mission Statement: Keiser University is a regionally accredited private career university that provides educational programs at the undergraduate and graduate levels for a diverse student body in traditional, nontraditional and online delivery formats. The main campus is located in Fort Lauderdale, with campuses located throughout the State of Florida and internationally. Through quality teaching,

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learning, and research, the university is committed to provide students with opportunities to develop the knowledge, understanding, and skills necessary for successful employment. Committed to a students first philosophy, Keiser University prepares graduates for careers in business, criminal justice, health care, technology, hospitality, education, and career-focused general studies. Inherent in the Mission is service to the community. This service includes community partnerships, involvement with various constituencies and various continuing education programs. Academic Honesty Academic Honesty Policy The University can best function and accomplish its mission in an atmosphere of high ethical standards. As such, the University expects students to observe all accepted principles of academic honesty. Academic honesty in the advancement of knowledge requires that students respect the integrity of one anothers work and recognize the importance of acknowledging and safeguarding the validity of intellectual property. Students are expected to maintain complete honesty and integrity in all academic work attempted while enrolled at the University. Academic dishonesty is a serious violation of the trust upon which an academic community depends. There are different forms of academic dishonesty including, but not limited to, the following: Acquiring or Providing Information Dishonestly Using unauthorized notes or other study aids during an examination; using unauthorized technology during an examination; improper storage of prohibited notes, course materials and study aids during an exam such that they are accessible or possible to view; looking at other students' work during an exam or in an assignment where collaboration is not allowed; attempting to communicate with other students in order to get help during an exam or in an assignment where collaboration is not allowed; obtaining an examination prior to its administration; altering graded work and submitting it for re-grading; allowing another person to do one's work and submitting it as one's own; or undertaking any activity intended to obtain an unfair advantage over other students. Plagiarism The deliberate or unintentional use of anothers words or ideas without proper citation for which the student claims authorship. It is a policy of Keiser University that students assume responsibility for maintaining honesty in all work submitted for credit and in any other work designated by an instructor of a course.Students may not submit the same work completed for one course in any other course, earning credit for the same work each time. Plagiarism, because it is a form of theft and dishonesty that interferes with the goals of education, must carry severe penalties. The penalties are as follows: Partially plagiarized assignments The first occurrence of a student turning in an assignment containing plagiarized material results in an automatic F for that assignment.

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The second occurrence of a student turning in an assignment containing plagiarized material results in anautomatic F for the course. The third occurrence of a student turning in an assignment containing plagiarized material results in an automatic dismissal from the University. Entirely plagiarized assignments The first occurrence of a student turning in an entire plagiarized assignment results in an automatic F for the course. The second occurrence of a student turning in an entire plagiarized assignment results in an automatic dismissal from the University. Students who have been dismissed may reapply to Keiser University after remaining out of school for one full semester. Keiser University believes strongly that each student against whom the University is forced to take action, has a right to procedural due process where the student has notice and an opportunity to be heard. If the administration has to take disciplinary measures against a student or other action related to the student, the student may appeal the decision to the Grievance Committee. The procedures for the grievance are found in the Keiser University catalog. On written papers for which the student employs information gathered from books, articles, electronic, or oral sources, each direct quotation, as well as ideas and facts that are not generally known to the public at large, or the form, structure, or style of a secondary source must be attributed to its author by means of the appropriate citation procedure. Only widely known facts and first-hand thoughts and observations original to the student do not require citations. Citations may be made in footnotes or within the body of the text. Plagiarism also consists of passing off as one's own, segments or the total of another's work. Conspiracy Agreeing with one or more persons to commit any act of academic dishonesty. Fabrication of Information Falsifying or inventing any information, citation, or data; using improper methods of collecting or generating data and presenting them as legitimate; misrepresenting oneself or one's status in the University; perpetrating hoaxes unbecoming to students in good standing or potentially damaging to the University's reputation or that of the members of its academic community of students and scholars. Multiple Submissions Submitting the same work for credit in two different courses without the instructors permission. Facilitating Academic Dishonesty Aiding another person in an act that violates the standards of academic honesty; allowing other students to look at one's own work during an exam or in an assignment where collaboration is not allowed; providing information, material, or assistance to another person knowing that it may be used in violation of course, departmental, or University academic honesty policies; providing false information in connection with any academic honesty inquiry.

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Student Assistance Americans with Disabilities Act Keiser University complies with the Rehabilitation Act of 1973 (Section 504) requiring that no qualified handicapped person will be excluded by reason of the handicap from enrolling in a course of instruction. Students wishing to avail themselves of special adjustments/accommodations under the Americans with Disabilities Act must disclose special needs at time of enrollment. Accordingly, every effort is made to make reasonable adjustments/accommodations. Certain programs may require manual dexterity. Please consult campus Admissions Offices for further information. For physically challenged students, Keiser University campuses are either located on ground level or have appropriate elevator service with ramps and designated parking to facilitate easy entry. Restrooms are equipped with wide doorways and bars to ensure wheelchair accessibility. The following individual is Keiser Universitys Section 504 Coordinator: Mr. Jack Sites Vice Chancellor of Academic Affairs/Office of the Chancellor 1900 W. Commercial Boulevard, Suite 180 Ft. Lauderdale, Florida 33309 Tel: (954) 776-4476 Disability Statement: A student with physical or learning challenges is encouraged to register with the Office of the Academic Dean to assess the need for accommodations. It is the students responsibility to contact the Office of the Academic Dean and to submit the appropriate documentation prior to receiving services. Student Assistance: If you encounter any difficulties, please contact me without delay. The University has many resources to help students succeed in their courses, and I would like to help you to obtain the assistance that will allow you to complete the course successfully. Course Requirements, Assignments and Evaluation 35% Weekly Exams Written exams thatt will include topics from the chapters discussed activities and exercises Written exam that will include topics from the chapters discussed activities and exercises during the semester.

30%

Final Exam

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30%

Classwork/Participation/ In-class Assignments and Activities

5% 100%

Post-Test Total

Class activities will include group and individual activities, writing and speaking exercises, lectures and discussions. You will be expected to speak and present in front of the class. Class activities and in-class assignments may not be made up. There are assignments you may complete to earn extra credit. Evaluation of your knowledge of course concepts

Assignments Turned in After the Due Date (Late Assignment) Grading policy: Late assignments are accepted only if prior arrangements are made with your instructor and as per Keiser University attendance policy. You will have 10% of the grade deducted. Make-up assignments for absence and tardy will not be accepted late. All late assignment are due the next class and no make-up work will be excepted beyond that deadline. Grading: 35% 30% 30% 5% 100% Grading Scale: 90-100% 80-89.99% 70-79.99% 65-69.99 Less than 65% A B C D F Weekly Exams Final Exam Classwork/Participation/ In-class Assignments and Activities Post-Test Total

HAVE A GREAT SEMESTER, STUDY HARD, AND GOOD LUCK.

Prof. Salvador LeopoldoLpez G.

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