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Introduction to Optimization Models
Carraway, Robert L.Technical Note DARDEN-QA-0682-EDecision AnalysisWe refer to a model that uses mathematical programming to find an optimal quantity as an optimization model. Thus, an optimization model differs from an evaluation model in that it goes beyond simply evaluating the consequences of proposed alternatives: It actually identifies the “optimal” alternative. How does an optimization model accomplish this impressive task? In this age of readily available computing power and ever more user-friendly softw...Starting at €8.20
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Analyzing Uncertainty: Probability Distributions and Simulation
Carraway, Robert L.Technical Note DARDEN-QA-0660-EDecision AnalysisThis note introduces simulation as a tool to analyze uncertainty in business decisions. It first observes the limitations of single point or simple range estimates of key uncertainties, thereby motivating the need to create a risk profile for any alternative that characterizes the full range of possible outcomes and their relative likelihoods. A simple example involving both a discrete and a continuous (triangle) distribution is used. The note is...Starting at €8.20
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Jaikumar Textiles, Ltd. (B): The Nylon Division
Carraway, Robert L.Case DARDEN-QA-0391-EDecision AnalysisIn this case, a second constraining resource is introduced to the decision environment of the A case (UVA-QA-0364), making linear programming appropriate and useful. Because there are two decision variables, the problem can be solved graphically. A set of memoranda to the decision maker in the case motivates discussion of a shadow price and its associated range.Starting at €5.74
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Dow Chemical U.S.A.: Capacity Expansion
Carraway, Robert L.Case DARDEN-QA-0411-EDecision AnalysisDow Chemical U.S.A. is faced with the decision of where to locate a new chemical reactor. Three current plants sites are being considered. Economic planner John Lewis has been charged with analyzing the impact of the reactor location on distribution costs. Though not suggested in the case, it is possible to construct a linear programming model to assist him in his analysis.Starting at €8.20
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Where in the World Should You Get Cancer? (A)
Matherne, G. Paul; Quissel, Kathryn; Liang, Rongwu; Zhang, OliviaCase DARDEN-OM-1742-EService and Operations ManagementWhat does “universal health care coverage” mean? Is it the same all over the world? Universal health care systems have the benefit of ensuring access to some services with a degree of financial protection for most citizens within a country. However, every system has tradeoffs, and these tradeoffs have different consequences for people experiencing a health crisis such as cancer. A leading cause of death worldwide, cancer has created a large “mark...Starting at €8.20
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The Mathematics of Optimization
Carraway, Robert L.Technical Note DARDEN-QA-0683-EDecision AnalysisIn “Introduction to Optimization Models” (UVA-QA-0682), we explored the basics of using optimization models, or mathematical programming. In this technical note, we turn our attention to the mathematics underlying optimization. While not essential, a deeper understanding of the math can help you become a significantly more effective and efficient user of optimization models. It is well worth the investment if you anticipate using optimization on ...Starting at €8.20
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Introduction to Analytical Probability Distributions
Carraway, Robert L.; Jenkins, RobertTechnical Note DARDEN-QA-0690-EDecision AnalysisThis technical note provides a mostly nontechnical introduction to analytical probability distributions. The distributions covered are: uniform, triangular, normal, Poisson, exponential, lognormal, and binomial.Starting at €8.20
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Where in the World Should You Get Cancer? (B): Lu Yong Epilogue
Matherne, G. Paul; Quissel, Kathryn; Liang, Rongwu; Zhang, OliviaCase DARDEN-OM-1743-EService and Operations ManagementWhat does “universal health care coverage” mean? Is it the same all over the world? Universal health care systems have the benefit of ensuring access to some services with a degree of financial protection for most citizens within a country. However, everyStarting at €5.74
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Flex Technology
Grushka-Cockayne, Yael; Carraway, Robert L.; Sorenson, TravisCase DARDEN-QA-0811-EDecision AnalysisAfter years of development, William Krause knew that 2014 was the year to “go big or go home.” His Flexible Herbert Screw, a medical device intended to support the healing of fractured collarbones (clavicles), was ready for launch, and he had accumulated the necessary cash-$1 million by his reckoning-needed to comfortably see him through the start-up phase. Although evidence in favor of the invasive device was still inconclusive, other key player...Starting at €8.20
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Jaikumar Textiles, Ltd. (A): The Nylon Division
Carraway, Robert L.Case DARDEN-QA-0364-EDecision AnalysisThis case is a good introductory linear-programming case; it introduces the notion of constraint exploitation and provides practice in deciding between alternative forecasting techniques (including exponential smoothing). The case contains a decision-uncertainty structure. A production planner must determine whether or not to take a contract for future delivery of a specified product at a stated price. The decision will affect the production mix ...Starting at €8.20