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The Science of Decision Making: A Problem-Based Approach Using Excel, by Eric V. Denardo
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Provides the reader with a perspective on the efficient operation of complicated systems.
* Spreadsheets are used to employ and teach techniques.
* Includes the facets of probability that relate to decision making.
- Sales Rank: #1063488 in Books
- Published on: 2001-08-28
- Original language: English
- Number of items: 1
- Dimensions: 10.31" h x 1.26" w x 8.31" l, 3.33 pounds
- Binding: Paperback
- 720 pages
From the Back Cover
Learn how to model and solve real decision-making problems using Excel.
This book is a practical, accessible, engaging, and deeply penetrating introduction to the science of decision making. It is a successful fusion of problem-based learning and spreadsheet computation with decision science. It surveys the modfels of operations research and of probability.
As you work through the problems within the chapters, you will acquire a potent set of tools for solving problems, and you'll see how to make practical use of them. You will find examples from engineering, economics, finance, operations management, business, medical decision making, and the sciences. You will see how to use the methodology in a variety of academic disciplines and career paths.
Features:
- Problem-based learning enhanced by realistic examples drawn from a broad range of disciplines.
- Depth of understanding, enabled by the marriage of the methods of operations research with spreadsheet computation.
- Breadth of coverage, welding models of probability to those of decision making.
- Self-contained as concerns Excel.
- Useful Add-Ins. A link to the related website, which contains Premium Solver for Education. TreePlan. RiskSim. several useful functions and appropriate data sets.
About the Author
Educated at Princeton and Northwestern Universities, Eric V. Denardo worked for AT&T and The Rand Corporation before joining the faculty of Yale University. His work is noted for its breadth, innovation, and elegance.
Most helpful customer reviews
21 of 23 people found the following review helpful.
Best OR book for beginners on the market -- by far!
By Robert Pelgrift
Professor Denardo's textbook is written in absolutely the most crystal clear way possible and is thus not only completely accessible to beginners. It can also serve as a bridge for those with less mathematical background into OR and economics at the higher mathematical level.
The chapters on linear programming at the beginning of the book show the reader the intuitive reasoning of the simplex method. In the third-to-last chapter of the book, Denardo introduces the requisite matrix algebra (again his exposition of this is a complete gem for someone who didn't quite "get" linear algebra before reading this book), and then he shows the actual algorithm for simplex method in the second-to-last chapter. the final chapter is about LP duality and its extensions to things like general equilibrium, the Max-flow-min-cut, and other applications. Denardo's extensive use of excel in these chapters is done in a way that is a huge aid to the student's understanding.
I should also note that the chapters on game theory, integer programming, and dynamic programming are excellent for the introductory student.
My one complaint is that this book needs a sequel. Denardo is an excellent writer, and I would love to see an advanced general OR text, which uses the last chapters of this introductory book as a point of departure.
2 of 6 people found the following review helpful.
displeased
By AnonAmUsr
I'm not a fan of this book. The explanations are long and somewhat confusing. If you spend hours and hours wading through sections you might figure stuff out, but it's no straightforward. Also, the cd that comes with the book only works with older versions of Excel (2003). I think I used this book maybe 3 times for a class I took and it didn't help at all.
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