Spreadsheet Modeling and Decision Analysis [Hardcover]

Cliff Ragsdale (Author)

Book Description

Publication Date: June 16, 2003

Cliff Ragsdale is an innovator of the spreadsheet teaching revolution and is highly regarded in the field of management science. The 4th edition retains the elements and philosophy that has made its past editions so successful. New topics have been added as well as examples that are relevant to decision making in today's business world. This new edition of Spreadsheet Modeling and Decision Analysis provides instruction in the most commonly used management science techniques and shows how these tools can be implemented using the most current version of Microsoft Excel for Windows. This text also focuses on developing both algebraic and spreadsheet modeling skills.

Editorial Reviews

Review

In our opinion, Ragsdale has sufficient technical depth, including algebraic modeling, in all of the topics we teach (linear programming, decision analysis, queuing models, simulation, and forecasting). The text is well written with a wide range of problems (easy to very difficult) from a variety of applications.

[Ragsdale] has a very straightforward presentation of a difficult topic. It is readable for students and useful for professors.

About the Author

Cliff Ragsdale is the Bank of America Professor, Department of Business Information Technology in the Pamplin College of Business at Virginia Tech, where he has taught since 1990. He received his Ph.D. in Management Science and Information Technology from the University of Georgia. He also holds an M.B.A. in Finance and B.A. in Psychology from the University of Central Florida. Before pursuing his Ph.D., he was supervisor of Benefit Finance & Qualified Plans at the international headquarters of Red Lobster, Inc. He is a member consultant for Compass Modeling, Inc., and has served as an information systems and statistical consultant for the General Mills Restaurant Group and the accounting firm of Deloitte & Touche. Dr. Ragsdale's primary areas of research interest include microcomputer systems and applications, artificial intelligence, mathematical programming, and applied statistics. His research has appeared in DECISION SCIENCES, NAVAL RESEARCH LOGISTICS, OMEGA: THE INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE, COMPUTERS & OPERATIONS RESEARCH, OPERATIONS RESEARCH LETTERS, PERSONAL FINANCIAL PLANNING, and other publications. He has also received the Pamplin award for excellence in teaching from the Pamplin College of Business Administration at Virginia Tech. Dr. Ragsdale is an active member of DSI and INFORMS. He was proceedings coordinator for the 1995 National DSI Meeting and has served as vice president for Member Services and vice president of Publications for Southeast DSI. He has also served on the board of directors for the Southwest Virginia Chapter of APICS and as the faculty adviser for the student chapter of APICS at Virginia Tech.

Product Details

• Hardcover: 864 pages
• Publisher: South-Western College Pub; 4 edition (June 16, 2003)
• Language: English
• ISBN-10: 0324183992
• ISBN-13: 978-0324183993
• Product Dimensions: 10 x 8.1 x 1.5 inches
• Shipping Weight: 3.9 pounds
• Average Customer Review: 4.1 out of 5 stars  See all reviews (19 customer reviews)
• Amazon Best Sellers Rank: #740,808 in Books (See Top 100 in Books)
  • #54 in Books > Computers & Technology > Business & Culture > Technical Support

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Customer Reviews

Most Helpful Customer Reviews

37 of 38 people found the following review helpful:

5.0 out of 5 stars Solid text that really teaches decision analysis, June 28, 2004

By 

Craig Matteson (Saline, MI) - See all my reviews
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This review is from: Spreadsheet Modeling and Decision Analysis (Hardcover)

Since Lotus 1-2-3 burst onto the scene almost thirty years ago, spreadsheet software has been a vital tool in aiding business decision-making. There are many books offering instruction in learning to use a spreadsheet. Some books promise to teach business processes but end up delivering a course on basic spreadsheeting with only a passing nod to the business processes the student was expecting to learn.

This fine book actually delivers the goods. First and foremost, it is a solid text on decision analysis in business management. It teaches the student on how to model optimization problems and solve them using linear programming. It covers sensitivity analysis and the simplex method, network modeling, integer linear programming, goal programming and multiple objective optimization, non-linear programming and evolutionary optimization, regression analysis, discriminant analysis, time series forecasting, introduces simulation, queuing theory, project management, and concludes with a chapter devoted to decision analysis. This final chapter covers both probabilistic and non-probabilistic methods, the expected value of imperfect information, decision trees, analyzing risk in a decision tree, computing conditional probabilities, and finally, utility theory.

What is wonderfully useful about this book is that it teaches these important principles of business decision making by turning them into practical tools using Excel spreadsheets. It not only shows the reader (student) how to build the spreadsheet, it also does the important task of teaching the WHY of the tool, not just the how.

It is clearly written, is laid out logically, and comes across as supportive of the student trying to learn this material.

Included in this book are 2 CDs. Included are: an advanced Solver, a 140 day trial of the Crystal Ball software, which will limit your use of it to the term you first study the material, but won't be of use to you unless you buy the software. The same goes for the 120-day trial of Microsoft Project. It is great to be introduced to these tools, but once you have invested time learning them, you will need to make other investments to keep using them. This is OK with me; I just think you ought to know that up front.

I think this is a fine text and could be the foundation of a very useful course.

17 of 20 people found the following review helpful:

4.0 out of 5 stars Well Written, Clear, and To The Point, December 14, 2004

By 

S. Craig Jones (Georgia, USA) - See all my reviews
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Amazon Verified Purchase

This review is from: Spreadsheet Modeling and Decision Analysis (Hardcover)

Yes, this book is expensive. Yes, the subject matter is rather dry. But if you don't expect dry subject matter, what are you doing in graduate school?

I have no natural talent in analysis, especially when that analysis involves mathematics. This book, while not making it particularly easy for me to understand modeling and decision analysis, certainly eased the process of learning to understand it. Ragsdale's writing style is direct and to-the-point. I had the additional advantage of taking this class from Dr. Ragsdale. His style of lecturing carries over to his style of writing. Each sentence logically follows the other, so the student doesn't easily drift or get lost.

Is this textbook an easy read? Not particularly. But it is for a graduate-level class, so easy reading should not be expected. Does this book promote understanding and learning? Absolutely.

5 of 5 people found the following review helpful:

2.0 out of 5 stars Not great, July 27, 2009

By 

S. Pedot - See all my reviews
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This review is from: Spreadsheet Modeling and Decision Analysis (with CD-ROM and Microsoft Project 2003 120 day version) (Hardcover)

This book is way too overpriced for what it actually provides. For this price, I think it is reasonable to ask for problem solutions at the end of the chapter/book (if not the entire solution explanation, at least the final result). Another alternative would be to give access to odd or even problem solutions on the Internet. Now that I am done with my class I am going to resell it asap. This book is useless.