Problem #1 (Business Analytics) – 5 points
On a separate sheet of paper (hand-written or Word document), explain what business analytics is (in your own words) and provide a short response that includes a company example of business analytics in use (1-2 paragraphs, no more than 1 page).
Problem #2 (Break-even analysis) – 15 points
CH 1 - Complete Problem #7 (as iteration 1): Text page 22 (12th Edition)
Iteration 2: How many dolls would Andy have to sell to make $1,000 profit?
(No graphs necessary)
Problem #3 (Maximization of Profit) – 25 points
Manual Method
CH 2 - Complete Problem #9: Text page 63 (12th Edition)
Problem #4 (Minimization of Cost) – 15 points
Manual Method
CH 2 - Complete Problem #2 using the following cost change information based on learning new information mentioned below: Text page 62 (12th Edition)
“Your resource supplier just contacted you initiating a cost increase per ounce on both Oats and Rice at the same time…”
• Ounce of Oats now costs $0.08
• Ounce of Rice now costs $0.07
Problem #5 (Minimization of Cost) – 25 points
Computer Solution
CH 3- Complete Problem #16 (12th Edition, p. 100)
• Formulate a linear programming model for this problem
• Indicate units of measure for all decision variables, constraints, and solutions including interpretations.
• Include all appropriate reports as indicated in the Study Guide
Problem #6 (Minimization of Cost) – 15 points
Computer Solution
Validate your manual solution for Problem #4 using computer solution POM QM or Excel Solver
• Include all appropriate reports as indicated in the Study Guide
Sample Solution