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Provide your students with a strong conceptual understanding of the critical role that quantitative methods play in today’s decision-making process with the well-respected QUANTITATIVE METHODS FOR BUSINESS, 12E by award-winning authors Anderson/Sweeney/Williams/Camm/Cochran/Fry/Ohlmann. Written with the non-mathematician in mind, this applications-oriented text clearly introduces today’s many quantitative methods, how they work, and how savvy decision makers can most effectively apply and interpret data. A strong managerial orientation motivates learning by weaving pertinent, actual examples throughout that illustrate key situations where quantitative methods make a difference in decision making. QUANTITATIVE METHODS FOR BUSINESS, 12E provides everything your students need for success from the authors’ hallmark "Problem-Scenario Approach" that helps readers understand and apply mathematical concepts and techniques. Instant online access provides students with Excel® worksheets, TreePlan, Crystal Ball, Premium Solver for Excel®, and LINGO.
- UPDATED CHAPTER ON FORECASTING NOW USES REGRESSION TO ESTIMATE LINEAR TRENDS AND SEASONAL EFFECTS. An updated discussion in Chapter 6 now focuses on the use of regression to estimate linear trends and seasonal effects. A new chapter appendix details how to use the Excel® LINEST function to estimate linear trends and seasonal effects. With these revisions the chapter better represents current industry approaches to these important topics.
- UPDATED OPTIMIZATION OUTPUT NOW ALIGNS WITH THE POPULAR EXCEL® SOLVER. Rather than using The Management Scientist output for optimization as in previous editions, Chapters 8-12 now use output aligned with today's popular Excel® solver to better prepare students for success in business today.
- UPDATED CHAPTER ON SENSITIVITY ANALYSIS REFLECTS THIS EDITION'S NEW, CONSISTENT COMPUTER OUTPUT FORMAT. This edition's Chapter 8 on Sensitivity Analysis incorporates numerous changes that more closely align the chapter descriptions with the new computer output format used in this edition. An informative new discussion explores the limitations of classical sensitivity analysis to give students an understanding of both the benefits and potential drawbacks to this approach.
- UPDATED CHAPTER ON DISTRIBUTION AND NETWORK MODELS EMPHASIZES IMPORTANCE OF SUPPLY CHAIN APPLICATIONS. Chapter 10's content is now revised and rearranged to more effectively reflect the current importance of supply chain models and supply chain applications for business managers and quantitative methods in business. The authors group transportation and trans-shipment models into a single section on supply chain models for a clearer approach. All chapter models are presented as linear programs. In keeping with the theme of this book, the authors do not burden students with solution algorithms.
- NEW Q.M. IN ACTION, CASES, AND PROBLEMS DEMONSTRATE PRINCIPLES IN PRACTICE. Short, captivating new Q.M. in Action summaries describe how the quantitative methods from the chapter are currently used in actual business practices. This edition provides 19 Q.M. in Action vignettes, two new cases, and more than 30 new homework problems to ensure all practice reflects actual business challenges.
- HELPFUL MARGIN ANNOTATIONS CLARIFY KEY POINTS FOR STUDENTS. Popular, informative annotations in the margins of the book highlight key information and provide additional insights for readers who wish to know more. These clear annotations provide appropriate emphasis and enhance students' understanding of the book's most important terms and concepts.
- NOTES & COMMENTS PROVIDE ADDITIONAL INSIGHTS AND WARNINGS ABOUT METHODOLOGY. At the end of many sections, "Notes & Comments" offer additional insights about the methodology being discussed and its application. Notes & Comments may include warnings or highlight limitations of the methodology, may offer recommendations for applications, or provide brief, additional technical considerations.
- SELF-TEST EXERCISES LET STUDENTS INSTANTLY CHECK COMPREHENSION BEFORE PROGRESSING. Helpful Self-Test Exercises let students immediately complete and evaluate their understanding of the concepts presented in the chapter. Completely worked-out Self-Test solutions appear in an appendix in addition to the solutions for even-numbered problems, as requested by past users.
- ENGAGING Q.M.IN ACTION ARTICLES SUMMARIZE APPLICATIONS FROM TODAY'S BUSINESS. Interesting Q.M. in Action articles throughout the text offer practical summaries of how quantitative methods apply in business today. The articles feature adaptations from Interfaces and OR/MS Today articles as well as written contributions from leading practitioners.
2. Introduction to Probability.
3. Probability Distributions.
4. Decision Analysis.
5. Utility and Game Theory.
6. Time Series Analysis and Forecasting.
7. Introduction to Linear Programming.
8. Linear Programming: Sensitivity Analysis and Interpretation of Solution.
9. Linear Programming Applications in Marketing, Finance, and Operations Management.
10. Distribution and Network Models.
11. Integer Linear Programming.
12. Advanced Optimization Applications.
13. Project Scheduling: PERT/CPM.
14. Inventory Models.
15. Waiting Line Models.
17. Markov Processes.
Appendix A: Building Spreadsheet Models.
Appendix B: Binomial Probabilities.
Appendix C: Poisson Probabilities.
Appendix D: Areas for the Standard Normal Distribution.
Appendix E: Values for e-λ.
Appendix F: References and Bibliography.
Appendix G: Self-Test Solutions and Answers to Even-Numbered Problems.
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
Accessible through Cengage.com/login with your faculty account, this website for instructors features all of the assets available to students at no charge, plus an Instructor's Resource Manual (instructional objectives, chapter outlines, discussion questions, suggested lecture topics, suggested paper topics, and related Internet resources) and PowerPoint® presentations. Additionally, the following test bank format types are available for download from the Instructor Companion Website: Blackboard, Angel, Moodle, Canvas, Desire2Learn, and PDF.
This trusted Solutions Manual includes verified solutions and answers to all problems in the text that enable you to efficiently grade student homework. For your convenience and in response to instructors' requests, a printed version of the Solutions Manual may be packaged with the textbook for student purchase.