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White - REP 468 Syllabus

Spring 2006

Instructor: Gregory K. White
Professor
Resource Economics and Policy

Office: 307 Winslow Hall

Phone: 581-3159
E-mail: gwhite@maine.edu

Office Hours: Tuesdays and Thursdays, 11:00 to 12:00 and Wednesdays, 12:00 to 1:00. You are encouraged to make appointments in advance by calling or through email.

Course Objectives:

To obtain a working knowledge of linear programming and forecasting techniques for making business decisions. Students will learn how to specify a variety of business problems in linear programming format and how to use Excel software to solve these problems. Additional emphasis will be given to the interpretation of solutions and how to conduct sensitivity analysis to problem parameters. Other analytical techniques used in inventory management, simualtion problems, and forecasting will be presented.

Text: Anderson, Sweeney, and Williams. An Introduction to Management Science: Quantitative Approaches to Decision Making: 11th ed. Thompson Publishing Co. 2005.

Grading:

Grades will be assigned on the basis of two prelims, a comprehensive final exam, and regular homework. Exam dates are noted in the assignment schedule. The course grade will be computed on the following basis:

Prelim 1 20%
Prelim 2 20%
Homework 30%
Final exam 30%

Homework which is not submitted on the date due will receive -1 point for each day late. Homework not submitted within 5 weekdays of the due date will be graded at best as ½ of the possible score for the assignment. Assignments not submitted within 10 days of the due date will receive a zero. Failure to stay current with homework assignments can have a significant impact on your final course grade.

Make-up exams will only be given if absences are excused for legitimate reasons by the course instructor before the exam. Make-up exams will always be more difficult than the original exam and may be given as oral exams at the discretion of the course instructor.

Course Conduct:

The course will rely upon lectures with sample problems and regular homework assignments. The course will use economic and mathematical concepts presented in previous courses in addition to new analytical techniques and methods. Students should feel free to consult the instructor whenever questions arise regarding material presented in class or in the reading assignments.

Students are presumed to have read the required reading before attending the class in which it will be discussed and should have worked through the “self-test” questions that are identified in the readings. Each student should be prepared to participate in class discussions at every meeting.

If you have a disability for which you may be requesting an accommodation, please contact Ann Smith, Director of Disabilities Services, 121 East Annex, 581-2319, as early as possible in the term.

A goal for the classroom is to have a positive, attentive, courteous environment that is conducive to learning. Being on time, being alert, participating in discussion and activities, staying for the full class time, and generally contributing to the learning experience of one’s classmates are expected behaviors.

Class attendance is essential. This course also requires a significant commitment of time for homework preparation. Problem solving practice is essential to develop the skills taught in this course.

Academic Honesty

All homework which is handed in must be your own work, although seeking advice from others is reasonable. While I encourage you to discuss problem options with others, I expect that the work which you submit is yours. You will not learn the techniques presented in this course unless you do the work yourself. Giving or receiving help of any kind on an exam is unacceptable.

Reading and homework assignments:

Time
Readings

Homework
.5 week
Introduction, Chap. 1, Appendix 1.2
10, 11, 13, & 17

1 week

L.P.: The Graphical Method, Chap. 2
4, 11, 13, 19, & 26

2 weeks
L.P.: Formulation, Computer Solution, & Interpretation, Chap. 3

13, 14, 27, & 30
1.5 weeks
L.P. Applications, Chap. 4, Appendix 4.1
5, 14, 17, & 20

Prelim 1: Thursday, February 24th

1 week
Transportation, Assignment and Transshipment Problems, Chap. 7[7.1-7.4]

6, 10, 11, & 26
1 week
Integer Programming, Chap. 8

4, 9, & 11
2 weeks
Inventory Models, Chap. 11

6, 9, 11, 17, 20, & 27

Prelim 2: Tuesday, April 12th

1week
Queuing Models, Chap. 12
And “Queuing Theory” handout

1, 2, 9, 21, & 23

1.5 weeks
Simulation, Chap. 13

4, 10, 16 & 20
1.5 weeks
Forecasting, Chap. 16

7, 10, 22, 26, & 34

Final Exam per exam schedule


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