**MAT 540 ENTIRE COURSE (DQs, Assignment and Final Exam)**

**Week 2a**

“Decision Tree” Please respond to the following:

- Explain the parts of a decision tree.
- What are some benefits of using decision trees?
- In what ways can decision trees be used for business decisions? Name some real-world examples.

**Week 2b**

“The Science of Probability” Please respond to the following:

- How does the science of probability affect decisions? Why?

**Week 3a**

“Pseudorandom”

- Why do we use pseudorandom numbers in simulations?
- How do pseudorandom numbers affect the accuracy of a simulation?

**Week 3b**

“Statistical Analysis”

- What is the role of statistical analysis in simulation?

**Week 4a**

“Forecasting” Please respond to the following:

- Choose one of the forecasting methods and explain the rationale behind using it in real-life.
- Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model.

**Week 4b**

“Forecasting Models”

- What is the difference between a causal model and a time- series model? Give an example of when each would be used.
- What are some of the problems and drawbacks of the moving average forecasting model?
- How do you determine how many observations to average in a moving average model?
- How do you determine the weightings to use in a weighted moving average model?

**Week 5 – Midterm Week**

“Reflection to date” Please respond to the following:

- In a paragraph, reflect on what you’ve learned so far in this course. Identify the most interesting, unexpected, or useful thing you’ve learned and explain why

**Week 6a**

“The Linear Programming Model” Please respond to the following:

- What are some business uses of a linear programming model? Provide an example.

**Week 6b**

“The LP Model” Please respond to the following:

- In the graphical method, how do you know when a problem is infeasible, unbounded, or when it has multiple optimal solutions?
- What are the essential ingredients of an LP model? Why is it helpful to understand the characteristics of LP models?

**Week 6c**

“The LP Model” Please respond to the following:

- Distinguish between a minimization and maximization LP model. How do you know which of these to use for any given problem?

**Week 7a**

- What does the shadow price reflect in a maximization problem? Please explain.
- How do the graphical and computer-based methods of solving LP problems differ? In what ways are they the same? Under what circumstances would you prefer to use the graphical approach?

**Week 7b**

- How does sensitivity analysis affect the decision making process? How could it be used by managers?

**Week 8a**

- What is the relationship between decision variables and the objective function?
- What is the difference between an objective function and a constraint?

**Week 8b**

- Does the linear programming approach apply the same way in different applications? Explain why or why not using examples.

**Week 9a**

- Explain how the applications of Integer programming differ from those of linear programming.
- Why is “rounding-down” an LP solution a suboptimal way to solve Integer programming problems?

**Week 9b**

- Explain the characteristics of integer programming problems.
- Give specific instances in which you would use an integer programming model rather than an LP model. Provide real-world examples.

**Week 10a**

- Can we apply transshipment models to inventory applications? Why or why not?
- Is the transportation model an example of decision making under certainty or decision making under uncertainty? Why?

**Week 10b**

- Explain the assignment model and how it facilitates in solving transportation problems.
- What benefits would be gained from using this model?