Feasible or Infeasible, Optimal or Non-Optimal, and Unique or Multiple Solutions
11 11 12 12
MANAGEMENT SCIENCE Conclusion Review Questions
Quiz
CHAPTER 3
2022 04-MT-00036-0 978-621-04-3677-8 BS Accountancy Definition of State of Nature, Alternative Courses of Action, Payoff, and Probability of Occurrence of a State of Nature Decision Theory Part 1 Introduction
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13
13
13 16 16 17 18 24 24 24
Role and Structure of Decision Matrices
Problems under Certainty, Uncertainty, and Risk
SCAN ME
Solution to Decision under Risk
Solution to Solution under Uncertainty
CONTENTS
TABLE OF CONTENTS
Conclusion
Review Questions
Case Problem
PREFACE
iii
CHAPTER 4
Decision Theory Part 2
26
CHAPTER 1
Introduction
26 26 28 32 32 36 37 37
Introduction to Management Science Part 1
Structure of a Decision Tree
1
Using Decision Tree to Solve a Managerial Problem
Introduction
1 1 2 3 3 4 5 6 6 6
Structure of Bayes’ Theorem
What does Management Science mean? Definitions of Management Science Special Characteristics of Management Science Development of Management Science Major Limitations of Management Science
Revising Probabilities Using Bayes’ Theorem
Conclusion
Review Questions Case Problems
CHAPTER 5
Areas of Application
Linear Programming Part 1
40
Conclusion
vi
Review Questions
Introduction
40 41
Case Analysis
Structure of a Linear Programming Problem Advantages and Limitations of Linear Programming
42 Guidelines on Linear Programming Model Formulation 43 The Graphical Method for Solving Linear Programming Problems 45 Conclusion 48 Review Questions 48 Case Problems 48
CHAPTER 2
Introduction to Management Science Part 2
8
Introduction
8 8
Features of Management Science Tools of Management Science
10
Feasible or Infeasible, Optimal or Non-Optimal, and Unique or Multiple Solutions
11 11 12 12
CHAPTER 6
Conclusion
Linear Programming Part 2
51
v
Review Questions
Introduction
51 51 53 61 64 64 65
Quiz
Logic of Simplex Method
LP Maximization Model Using Simplex Method LP Minimization Model Using Simplex Method
CHAPTER 3
Decision Theory Part 1
13
Conclusion
Introduction
13
Review Questions Case Problems
Definition of State of Nature, Alternative Courses of Action, Payoff, and Probability of Occurrence of a State of Nature
13 16 16 17 18 24 24 24
CHAPTER 7
Role and Structure of Decision Matrices
Distribution Models Part 1
67
Problems under Certainty, Uncertainty, and Risk
Introduction
67
Solution to Decision under Risk
Characteristics and Assumptions of the Transportation Problem Structure of the Transportation Problem
Solution to Solution under Uncertainty
68 71 72 73 81
Conclusion
Review Questions
Transportation Algorithm Obtaining the Initial Solution Optimal Feasible Solution
Case Problem
CHAPTER 4
Decision Theory Part 2
26
vii
Introduction
26 26 28 32 32 36
Structure of a Decision Tree
Using Decision Tree to Solve a Managerial Problem
60
Structure of Bayes’ Theorem
Revising Probabilities Using Bayes’ Theorem
Conclusion
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