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Management Science: The Art of Modeling with Spreadsheets 3rd Edition
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Top Customer Reviews
A lot of topics are very amenable to spreadsheets-regression, moving average, exponential smoothing, and optimization. For forecasting methods such as moving average, it is intuitive to use =Average(lag 1, lag 2,....), the same goes for exponential smoothing . A hint on exponential smoothing-you will need to find the parameter alpha (and beta if including trend), you can use Excel's solver to find this by minimizing MSE. The way the authors teach is by doing sensitivity analysis and finding it by trial and error. Excel spits out a regression output for you, clickpath: Data-> Data Analysis-> Regression.
For the rest of the topics, you must use the Risk Solver Platform that comes with the book. There is no CD, there is a code in the front flap that is needed to install a trial version along with a code from the instructor.Read more ›
Very little background should be necessary beyond the ability to understand basic equations. Excel does the math for you.
This is one of the few times, where too much information is a bad thing. The first two chapters of the book are probably the best as they explain how decision modeling is an "art form" and something that is more conceptually-based and uses Excel as a way to express itself. Unfortunately, the author quickly forgets this after Chapter 3 and dives headfirst into complex work problems, as if the reader has advanced knowledge of these concepts and a mastery of Excel.
The book seems to be designed for those who have more than a general knowledge of Excel and decision modeling. But as a teaching reference it is a poor choice for students.
Most Recent Customer Reviews
It's a good book and I am very satisfy with the delivery, it comes early than I expected.Published 6 months ago by Amazon Customer
I purchased this book for the Solver discussion. Solver is the optimization tool that many Excel users don't understand or use. Read morePublished 18 months ago by Zephyr
It is an explanatory book with examples. But it is based mostly on Microsoft Excel. Overall I am satisfied. :-)Published on December 21, 2013 by Maria V
This book will only be useful if you have a professor that is clear and concise in his or her explanations of WHY you are using the different techniques. Read morePublished on December 8, 2013 by Elyse
Fast shipping and online code was included. The back of the book was dented, however, and yet the box it was delivered in was unharmed and the book was very well packed. Read morePublished on December 1, 2013 by Zhao Yun
I got this text book for an MBA class in data modeling. It is a useful reference and covers the most useful types of modeling that Excel can perform. Read morePublished on July 1, 2013 by Hoya Paranoia
This is recommended by one of my grad courses, which is found after I bought it. I review the content of this book, pretty consistent with the course, and the course is very... Read morePublished on May 20, 2013 by Haojie Jing