Practical Management Science (with CD-ROM, Decision Tools and Stat Tools Suite, and Microsoft Project 2003 120 Day Version) [Hardcover]

Wayne L. Winston (Author), S. Christian Albright (Author)

Book Description

ISBN-10: 0534465129 | ISBN-13: 978-0534465124 | Publication Date: August 2, 2006 | Edition: 3

This text takes an active-learning approach, providing numerous examples and problems so students can practice extensively with a concept before moving on. Four types of problems -- skill-building, skill-extending, modeling, and cases are graded within sections and chapters to help instructors assign homework. Another important feature is the way that the text integrates modeling into all functional areas of business: finance, marketing, operations management using real examples and real data. The text emphasizes modeling over algebraic formulations and memorization of particular models. Shell files are also provided so that instructors can give students as much or as little information as they need.

Editorial Reviews

Review

"Prose is casual and understandable; not stuffy or full of jargon. Problems are realistic and motivating for students, but solvable. Working through problems within a spreadsheet provided by the authors along side text discussion is invaluable for the learning experience."

"More simplistic and to the point. Not to much extra material above and beyond the stuent's level. I also enjoyed the more focused approach toward simulations!! Good business examples are used with nice introductory paragraphs for each chapter. The CD that accompanies the book contains wonderful solution sets and useful supplemental programs."

About the Author

Wayne L. Winston is Professor of Operations and Decision Technologies in the Kelley School of Business at Indiana University, where he has taught since 1975. Wayne received his B.S. degree in Mathematics from MIT and his Ph.D. degree in Operations Research from Yale. He has written the successful textbooks OPERATIONS RESEARCH: APPLICATIONS AND ALGORITHMS, MATHEMATICAL PROGRAMMING: APPLICATIONS AND ALGORITHMS, SIMULATION MODELING WITH @RISK, DATA ANALYSIS AND DECISION MAKING, DATA ANALYSIS FOR MANAGERS, SPREADSHEET MODELING AND APPLICATIONS, AND FINANCIAL MODELS USING SIMULATION AND OPTIMIZATION. Wayne has published over 20 articles in leading journals and has won many teaching awards, including the school-wide MBA award four times. His current interest is in showing how spreadsheet models can be used to solve business problems in all disciplines, particularly in finance and marketing.

S. Christian Albright received his B.S. degree in mathematics from Stanford in 1968 and his Ph.D. in operations research from Stanford in 1972. Since then, he has been teaching in the Operations and Decision Technologies Department in the Kelley School of Business at Indiana University. He has taught courses in management science, computer simulation, and statistics to all levels of business students: undergraduates, MBAs, and doctoral students. He has published over twenty articles in leading operations research journals in the area of applied probability, and he has authored other successful South-Western titles, including DATA ANALYSIS AND DECISION MAKING, DATA ANALYSIS FOR MANAGERS, PRACTICAL MANAGEMENT SCIENCE, and SPREADSHEET MODELING AND APPLICATIONS. His current interest is in spreadsheet modeling, including development of VBA applications in Excel®. --This text refers to an alternate Hardcover edition.

Product Details

• Hardcover: 984 pages
• Publisher: South-Western College Pub; 3 edition (August 2, 2006)
• Language: English
• ISBN-10: 0534465129
• ISBN-13: 978-0534465124
• Product Dimensions: 10 x 8.3 x 2.2 inches
• Shipping Weight: 4.6 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (8 customer reviews)
• Amazon Best Sellers Rank: #499,560 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

4 of 4 people found the following review helpful:

3.0 out of 5 stars It has a lot of examples, but mechanical, November 28, 2008

By 

Gang Zhao "George" (Boston, MA) - See all my reviews
(REAL NAME)   

This review is from: Practical Management Science, Revised (with CD-ROM, Decision Making Tools and Stat Tools Suite, and Microsoft Project) (Hardcover)

As an instructor who uses this book to teach MBA students, I consider this as a valuable resource.

However, I am concerned that too many examples have been put together, without much intuition and insights in what justifies the models used for the simulation and how to effectively design the simulation.

As a result, student learns how to produce results for certain cases, but they don't know how to adjust it if assumptions change.

4.0 out of 5 stars valuable but still expensive, March 3, 2011

By 

Haze - See all my reviews

Amazon Verified Purchase

This review is from: Practical Management Science, Revised (with CD-ROM, Decision Making Tools and Stat Tools Suite, and Microsoft Project) (Hardcover)

I couldn't find any used one with CD, so this is somewhat expensive than my expectation.
This book is valuable if you want learn skills about Excel, especially for simulation or optimization in different situations.

5.0 out of 5 stars Great book that teaches how to use Excel and add-on functions for business modeling and risk management under uncertainty!, December 10, 2010

By 

Giorgi G. "Giorgi" (Houston, TX) - See all my reviews

Amazon Verified Purchase

This review is from: Practical Management Science, Revised (with CD-ROM, Decision Making Tools and Stat Tools Suite, and Microsoft Project) (Hardcover)

Great book that teaches how to use Excel and add-on functions for business modeling and risk management under uncertainty!

Has step by step examples. Lots of examples and work-it-out problems on the resource CD that comes with it.

Highly recommended for all MBA and business students!