BUEX-C534 Simulation and Optimization for BA

• 12 weeks
• 3.00 credits

This course focuses on building mathematicalmodels for applied business situations using primarily optimization andsimulation. The emphasis is on practical solution methods while gainingmanagerial insight. Topics include: math programming for linear, integer, andnon-linear models where finding an optimal solution can be found for reasonablysized models; models for finding good solutions for combinatorial problems;simulation techniques to evaluate the risk of solutions over a range ofscenarios; and methods for modeling time varying demand by identifying elementslike trend and seasonality, and ultimately creating a practical forecast.Students will learn to create generic models, but use Microsoft’s Excel as thesolution tool. By the end of the course, students should be able to buildcomplete models from a written explanation including the data set, enter themodel into Excel, solve the model, and then be able to offer insights and makemanagerial decision recommendations from their model.