By Stephen G. Powell, Kenneth R. Baker
Now in its fourth version, Powell and Baker’s administration technology presents scholars and enterprise analysts with the technical wisdom and ability had to enhance actual services in company modeling. during this booklet, the authors conceal spreadsheet engineering, administration technology, and the modeling craft.
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Extra info for Management Science: The Art of Modeling with Spreadsheets (4th Edition)
Inﬂuence charts provide a high-level view of the entire model that can be comprehended at one glance. This high-level perspective, in turn, supports modeling in teams by facilitating communication among team members. As a result, areas of agreement and disagreement among team members surface early. Inﬂuence charts can also be highly effective in communicating the essence of the modeling approach to clients. Inﬂuence charts are ﬂexible, so they support the frequent revision that effective modeling requires.
One of Willemain’s interesting observations about his experts was that they frequently switched their attention among these ﬁve topics. That is, they did not follow a sequential problem-solving process, but rather moved quickly among the various phases— at one moment considering the problem statement, at another considering whether the necessary data would be available, and at yet another thinking through whether the client could understand and use the model. A second signiﬁcant ﬁnding was that model structure, presumably the heart of a modeler’s work, received a relatively small amount of attention (about 60 percent of the effort) when compared to the other four topics.
Next we ask what we need to know to determine Proﬁt. 2b). These arrows identify which variables are required to calculate the outcome. 2c). 2d). Now we turn to Total Revenue, which is the product of Quantity Sold and Price. 2e) . 2f, we add the Price Elasticity variable and an arrow from Price to Quantity Sold. 3). For example, we use hexagons to represent outputs and boxes to represent decisions, as indicated in our example. We also use circles to represent other variables. As we complete the layout, we can identify certain of the variables as inputs.
Management Science: The Art of Modeling with Spreadsheets (4th Edition) by Stephen G. Powell, Kenneth R. Baker