Data Preparation in Problem Formulation
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Questions and Answers

What is the objective of the mathematical model in Iron Works, Inc?

  • Maximize the total monthly production
  • Minimize the total amount of steel used
  • Maximize the total monthly profit (correct)
  • Minimize the total monthly profit
  • What is the constraint on the total amount of steel used?

  • a1x1 + a2x2 > b
  • a1x1 + a2x2 < b (correct)
  • a1x1 + a2x2 = b
  • a1x1 + a2x2 ≥ b
  • What is the minimum monthly production level of product 1?

  • x1 > m
  • x1 > 60
  • x1 ≥ 60 (correct)
  • x1 > 0
  • What is the maximum monthly production level of product 2?

    <p>x2 &lt; 720</p> Signup and view all the answers

    What is the profit per unit of product 1?

    <p>100</p> Signup and view all the answers

    What is the amount of steel required per unit of product 2?

    <p>3</p> Signup and view all the answers

    What is the total monthly profit function?

    <p>p1x1 + p2x2</p> Signup and view all the answers

    What is the rewritten model with the given specific values?

    <p>Max 100x1 + 200x2</p> Signup and view all the answers

    What was the issue Continental Airlines faced before September 11, 2001?

    <p>Recovering from limited and massive weather delays</p> Signup and view all the answers

    How many daily flights did Continental Airlines need to accommodate?

    <p>1,400 daily flights</p> Signup and view all the answers

    What was the result of Continental Airlines' project?

    <p>Millions of dollars and thousands of hours saved for the airline and its passengers</p> Signup and view all the answers

    What was Merrill Lynch's problem?

    <p>Dealing with online investment firms</p> Signup and view all the answers

    What was the objective of Merrill Lynch's project?

    <p>Evaluating new products and pricing options</p> Signup and view all the answers

    What was CALEB Technologies' role in Continental Airlines' project?

    <p>Developing an optimization model</p> Signup and view all the answers

    What was special about Continental Airlines' response to 9/11?

    <p>It was the first airline to resume normal operations</p> Signup and view all the answers

    What is the name of the website for more information on these successful stories?

    <p><a href="http://www.scienceofbetter.org">www.scienceofbetter.org</a></p> Signup and view all the answers

    What is the primary focus of the data preparation step in problem formulation?

    <p>Collecting and organizing data to minimize errors</p> Signup and view all the answers

    What is the outcome of a well-formulated problem statement?

    <p>A clear definition of variables and constraints</p> Signup and view all the answers

    What is the primary purpose of a mathematical model?

    <p>To evaluate and delimit allowable actions</p> Signup and view all the answers

    What is the result of a model with 50 decision variables and 25 constraints?

    <p>A large number of data elements</p> Signup and view all the answers

    What is the role of information systems specialists in data preparation?

    <p>To assist in collecting and organizing data</p> Signup and view all the answers

    What is the goal of the problem formulation step?

    <p>To translate verbal statements into logical models</p> Signup and view all the answers

    What is the relationship between a logical model and a computer program?

    <p>A logical model is often embodied in a computer program</p> Signup and view all the answers

    What is the purpose of defining relationships between individual nurse assignments and preference violations?

    <p>To evaluate and delimit allowable actions</p> Signup and view all the answers

    What is the age deduction per year in the Austin Auto Auction model?

    <p>$800</p> Signup and view all the answers

    What is the mileage deduction per mile in the Austin Auto Auction model?

    <p>$0.025</p> Signup and view all the answers

    What is the expression for the expected winning bid in terms of the car's original price, current age, and mileage?

    <p>P - 800(A) - .025(M)</p> Signup and view all the answers

    What is the assumption underlying the Austin Auto Auction model regarding the factors that influence a car's value?

    <p>Only age and mileage affect a car's value.</p> Signup and view all the answers

    What is the unit profit for product 1 in the Iron Works, Inc. example?

    <p>p1</p> Signup and view all the answers

    What is the restriction on the production level of product 1 in the Iron Works, Inc. example?

    <p>At least m units of product 1</p> Signup and view all the answers

    What are the variables x1 and x2 in the Iron Works, Inc. example?

    <p>The production levels of products 1 and 2</p> Signup and view all the answers

    What is the expression for the starting bid in the Austin Auto Auction model?

    <p>B = .7(P) - 560(A) - .0175(M)</p> Signup and view all the answers

    What was the main objective of Ford Motor's Prototype Optimization Model?

    <p>To reduce the number of prototype vehicles</p> Signup and view all the answers

    What was the outcome of Ford's Prototype Optimization Model?

    <p>Reduced annual prototype costs by $250 million</p> Signup and view all the answers

    What was the main challenge facing Procter & Gamble's supply chain?

    <p>Eliminating duplication and non-value-added costs</p> Signup and view all the answers

    What was the goal of Procter & Gamble's operations research department?

    <p>To create decision-making models and software</p> Signup and view all the answers

    What was the approach used by the P&G operations research department to solve the supply chain problem?

    <p>Solving two easier-to-handle subproblems</p> Signup and view all the answers

    What was the outcome of Procter & Gamble's Strengthening Global Effectiveness effort?

    <p>Saved $200 million a year before tax</p> Signup and view all the answers

    What was the main advantage of increasing prototype usage at Ford Motor?

    <p>Reducing idle time of prototypes</p> Signup and view all the answers

    What was the collaboration between Ford Motor and Wayne State University?

    <p>Developing a Prototype Optimization Model</p> Signup and view all the answers

    Study Notes

    Problem Formulation

    • A problem situation involves defining variables, boundaries, assumptions, and performance measures.
    • A problem statement translates the problem from verbal to logical, quantitative terms.
    • Data preparation is a crucial step that requires a significant amount of time and may require information systems specialists.

    Data Preparation

    • Data preparation involves collecting and preparing data elements, which can be a time-consuming process prone to errors.
    • A large database may be required, and the process may need expertise from information systems specialists.

    Constructing a Model

    • A model is a representation of a real object or situation.
    • A logical model consists of a series of rules, usually embodied in a computer program.
    • A mathematical model is a collection of functional relationships that delimit and evaluate allowable actions.

    Model Development

    • Models can be developed to represent real objects or situations, such as the Austin Auto Auction example.
    • The example shows how to develop a mathematical model to determine the starting bid for a car based on its original price, age, and mileage.

    Mathematical Modeling

    • Mathematical models can be used to solve real-world problems, such as the Iron Works, Inc. example.
    • The example shows how to develop a mathematical model to maximize profit for a company that manufactures two products made from steel.

    Case Studies

    • Several case studies are presented, including:
      • Continental Airlines, which used optimization models to plan recovery from potential disasters.
      • Merrill Lynch, which evaluated new products and pricing options using mathematical models.
      • Ford Motor, which developed a prototype optimization model to reduce the number of prototype vehicles.
      • Procter & Gamble, which used decision-making models to improve its supply chain and streamline work processes.

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    Related Documents

    3rd Lecturer.ppt

    Description

    Learn about the importance of data preparation in problem formulation, including defining variables, setting boundaries, and preparing data elements. Understand the process and potential pitfalls of data preparation.

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