BUEX-C534 Simulation and Optimization for BA

• 12 weeks
• 3.00 credits

This course focuses on building mathematical models forapplied business situations using primarily optimization and simulation. Theemphasis is on practical solution methods while gaining managerial insight.Topics include: math programming for linear, integer, and non-linear modelswhere finding an optimal solution can be found for reasonably sized models;models for finding good solutions for combinatorial problems; simulationtechniques to evaluate the risk of solutions over a range of scenarios; and methodsfor modeling time varying demand by identifying elements like trend andseasonality, and ultimately creating a practical forecast. Students will learnto create generic models, but use Microsoft’s Excel as the solution tool. Bythe end of the course, students should be able to build complete models from awritten explanation including the data set, enter the model into Excel, solvethe model, and then be able to offer insights and make managerial decisionrecommendations from their model.