Textbook

# Management Science: The Art of Modeling with Spreadsheets, 4th Edition

## Description

Now in its fourth edition, Powell and Baker’s Management Science: The Art of Modeling with Spreadsheets, 4th Edition provides students and business analysts with the technical knowledge and skill needed to develop real expertise in business modeling.  In this book, the authors cover spreadsheet engineering, management science, and the modeling craft. Management Science, 4th Edition provides students and business analysts with the technical knowledge and skill needed to develop real expertise in business modeling. The authors cover spreadsheet engineering, management science, and the modeling craft. The text is designed to improve modeling efficiency and modeling effectiveness by focusing on the most important tasks and tools.

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CHAPTER 1 INTRODUCTION 1

CHAPTER 2 MODELING IN A PROBLEM-SOLVING FRAMEWORK 15

CHAPTER 4 ANALYSIS USING SPREADSHEETS 71

CHAPTER 5 DATA EXPLORATION AND PREPARATION 89

CHAPTER 6 CLASSIFICATION AND PREDICTION METHODS 117

CHAPTER 7 SHORT-TERM FORECASTING 167

CHAPTER 8 NONLINEAR OPTIMIZATION 187

CHAPTER 9 LINEAR OPTIMIZATION 219

CHAPTER 10 OPTIMIZATION OF NETWORK MODELS 257

CHAPTER 11 INTEGER OPTIMIZATION 289

CHAPTER 12 OPTIMIZATION OF NONSMOOTH MODELS 315

CHAPTER 13 DECISION ANALYSIS 337

CHAPTER 14 MONTE CARLO SIMULATION 363

CHAPTER 15 OPTIMIZATION IN SIMULATION 415

MODELING CASES 443

APPENDICES

APPENDIX 1 459

APPENDIX 2 487

APPENDIX 3 495

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## New To This Edition

• New coverage of data exploration and data mining, shifting focus from explanatory modeling to predictive modeling, and the modern emphasis on predictive performance using validation data.
• Updated content reflecting the latest version of Analytic Solver Platform throughout the book.
• The text has been streamlined so that it is adaptable to different uses: the treatment of basic Excel skills and Visual Basic for Applications are featured in separate appendices, and background material on basic probability and statistics are offered in two other appendices.
• Expanded coverage of data analysis.
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• Access to Analytic Solver Platform for Education, an integrated software platform for sensitivity analysis, optimization, decision trees, data exploration and mining, and simulation.
• Focus on the three skill areas that a business analyst needs to become an effective modeler: spreadsheet engineering, management science, and modeling craft.
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Appendices
Case and Exercise Solutions
Data Files
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Test Bank
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Students Resources
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Appendices
Data Files
PowerPoint Presentations
Our PowerPoint™ presentations contain a combination of key concepts allowing you to illustrate important topics with images, figures, and problems from the textbook.
Software Information
Text Figures
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Purchase Options
Wiley E-Text
Management Science: The Art of Modeling with Spreadsheets, 4th Edition
ISBN : 978-1-118-78684-0
544 pages