Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
27C0100
Tools  for  Business  Decisions
            Exercises
  kari.silvennoinen@student.hse.fi
Exam
• March  4th  or  May  18th

• Remember  to  register  for  the  exam  at  least  a  
  week  in  advance.




      ...
Ex  Set  4:  Eve  and  Steven
• Eve  does  MarkeJng  and  Dish  washing,  Steven  
  does  Cooking  and  Laundry
 Em      ...
Ex  Set  4:  Peterson  and  Johnson

P1       P2         P3              P4               P5
     1          0          1 ...
Case  2
• Total  cost  goes  down  from  11,2  M$  to  9,9  M$
Amount of malt shipped from plant i to brewery j in year 1 ...
What  next?
• What  if  more  decision  makers?
   – Different  values  and  priori1es
   – Different  objec1ves!  
• What  ...
OpJmizaJon
•   Step  1:  Need  for  op-miza-on  
•   Step  2:  Choose  decision  variables
•   Step  3:  Formulate  constr...
Excel  as  a  decision  tool
• In  the  real  world,  Excel  is  probably  the  most  (ab)
  used  tool  for  decision  ma...
Extending  Excel
• Macros  are  not  (usually)  necessary,  but…
• Current  versions  of  Excel  support  Visual  Basic  
...
Upcoming SlideShare
Loading in …5
×

Exercises 6 - Tools for Business Decisions

805 views

Published on

Published in: Education, Technology
  • Be the first to like this

Exercises 6 - Tools for Business Decisions

  1. 1. 27C0100 Tools  for  Business  Decisions Exercises kari.silvennoinen@student.hse.fi
  2. 2. Exam • March  4th  or  May  18th • Remember  to  register  for  the  exam  at  least  a   week  in  advance. kari.silvennoinen@student.hse.fi 2
  3. 3. Ex  Set  4:  Eve  and  Steven • Eve  does  MarkeJng  and  Dish  washing,  Steven   does  Cooking  and  Laundry Em Ec Ed El Sm Sc Sd Sl 1 0 1 0 0 1 0 1 4,5 7,8 3,6 2,9 4,9 7,2 4,3 3,1 18,4 1 1 1 1 2= 2 1 1 1 1 2= 2 1 1 1= 1 1 1 1= 1 1 1 1= 1 1 1 1= 1 kari.silvennoinen@student.hse.fi 3
  4. 4. Ex  Set  4:  Peterson  and  Johnson P1 P2 P3 P4 P5 1 0 1 1 0 1 1,8 1,6 0,8 1,4 3,4 6 12 10 4 8 20 <= 20 P1 P2 P3 P4 P5 1 0 1 0 0 2,6 16 1 0 0 1 1 3,2 18 1 0 1 1 0 3,4 20 0 0 1 1 1 3,8 22 1 0 1 0 1 4 24 0 1 1 1 0 4,2 26 1 0 1 1 1 4,8 28 1 1 0 1 1 5 30 kari.silvennoinen@student.hse.fi 4
  5. 5. Case  2 • Total  cost  goes  down  from  11,2  M$  to  9,9  M$ Amount of malt shipped from plant i to brewery j in year 1 (1000 ton) Istanbul Ankara Total Capacity Afyon 24,24 24 30,00 30,00 Konya 0 0 18,24 68,00 Import 0 0 0,00 20,00 Total malt 24,24 24 Total beer 202 200 (Million lt) Amount of beer shipped from brewery j to distribution center k in year 1 (Million liters) Istanbul Izmir Antalya Bursa Kayseri Export (Izmir) Total Capacity Istanbul 103 26 0 60 0 13 202 220 Ankara 0 48 50 0 102 0 200,00 200 Total 103 74 50 60 102 13 Demands 103 74 50 60 102 13 Total shipping cost 9,935 (Million dollars) kari.silvennoinen@student.hse.fi 5
  6. 6. What  next? • What  if  more  decision  makers? – Different  values  and  priori1es – Different  objec1ves!   • What  if  no  mathemaJcal  objecJve  funcJon? – F.e.  design  of  a  car • In  real  world,  many  problems  are  complex. kari.silvennoinen@student.hse.fi 6
  7. 7. OpJmizaJon • Step  1:  Need  for  op-miza-on   • Step  2:  Choose  decision  variables • Step  3:  Formulate  constraints   • Step  4:  Formulate  objec1ve  func1ons   • Step  5:  Set  up  variable  bounds   • Step  6:  Choose  an  op1miza1on  algorithm   • Step  7:  Obtain  solu1on(s)   • Step  8:  If  not  sa-sfied,  move  to  a  suitable  step   above.   Deb,  2008 kari.silvennoinen@student.hse.fi 7
  8. 8. Excel  as  a  decision  tool • In  the  real  world,  Excel  is  probably  the  most  (ab) used  tool  for  decision  making, – Probably  because  it’s  installed  prac1cally  everywhere – There’s  nothing  wrong  in  using  Excel,  but  be  aware  of   the  limita1ons • Many  add-­‐ins  provide  more  func1onality  (f.e.   Crystal  Ball) • Depending  on  your  needs,  R,  SAS  and  many  other   may  give  you  beZer  tools  than  Excel  to  analyze  and   solve  your  problems. kari.silvennoinen@student.hse.fi 8
  9. 9. Extending  Excel • Macros  are  not  (usually)  necessary,  but… • Current  versions  of  Excel  support  Visual  Basic   for  ApplicaJons  (VBA),  but  more  powerful   VB.NET  is  also  an  opJon – If  you  want  to  do  serious  Excel-­‐programming,  learn   VB.NET  (or  C#.NET)  instead – If  interested,  as  a  student  you  can  get  Microso^’s   development  tools  for  free  at   hZps://downloads.channel8.msdn.com/     kari.silvennoinen@student.hse.fi 9

×