MGT 355--Course Syllabus---Spring 2012
Management Science and Production Management Concepts
(Business Honors Program Section: CRN 20359)
Dr. James Russell
Lubin School of Business, Pace University
Classroom: Lienhard 24B
Office: Goldstein Academic Center 111
Telephone: 914-773-3391
Fax: 914-773-3920
E-mail: jrussell@pace.edu
Office Hours: Monday, 10:15 am – 1:15 p.m. and Wednesday, 10:15-12:15
Website: http://blackboard.pace.edu/
Publisher’s textbook and software site: http://wps.prenhall.com/bp_render_qam_11/
1. Course Description: The course acquaints the student with the management science approach
to the solution of business problems in general and production problems in particular. Problems
involving the business as a whole, as well as such areas as inventory control, forecasting,
production scheduling, quality control and asset location are considered. Topics include linear
programming, queuing theory, statistical decision theory and simulation.
2. Prerequisites: MAT 104 (Finite Mathematics), MAT 117 (Elementary Statistics), MGT 250
(Managerial and Organizational Concepts) and Junior Standing (at least 60 college credits
completed). If you do not have the prerequisites you can be removed from class so you should
see Lubin Academic Advisement (914-773-3531) for a different course or a waiver.
3. Learning Objectives
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Build analytical modeling skills for management
Build decision-making skills, supported by quantitative reasoning
Understand the principles underlying management science models
Understand production management issues
Enhance ability to produce and apply computer solutions to management problems
4. Course Outline:
I. Introduction
A. Quantitative Methods and Management Science (Ch. 1)
B. Using Computers for Quantitative Analysis
II. Probability, Statistics and Applications
A. Concepts and Probability Distributions (Ch. 2)
B. Decision Analysis (Ch. 3)
C. Regression Models (Ch. 4)
D. Simulation Modeling (Ch. 15)
III. Production and Inventory Management
A. Forecasting, Planning and Scheduling Production (Ch. 5)
B. Planning and Controlling Projects (Ch. 13)
C. Deterministic and Probabilistic Inventory Models (Ch. 6)
IV. Linear Programming
A. Introduction: The Graphical Method and Computer Packages (Ch. 7)
B. Applications (Ch. 8)
V. Waiting Line Systems (Ch. 14)
5. Text:
Quantitative Analysis for Management, Custom Published for MGT 355 by Render, Stair
and Hanna (Pearson) 2012. This book will not be available until about January 30 but the
first two chapters are on the course Blackboard site.
6. Grading:
.
.
.
.
.
.
.
30%
30%
20%
10%
10%
100%
Midterm Exam
Final Exam
Homework
Linear Programming Computer Project
Class Participation
TOTAL
7. Class policies:
Make-up exams will not be given except in the case of illness, documented by a doctor.
Late projects and homework assignments lose 10 points per class session late (to be fair to those
who submit them on time) unless written medical documentation is provided. If necessary,
students can fax or e-mail homework to the instructor to avoid the penalty for lateness.
Assignments must be handed in at one time, not in installments. Your name and the problem
number must be printed in the title of the printout and the answers to the questions clearly
highlighted.
Turn off cell phones during class. Don’t read or send text messages during class.
Avoid being late at the beginning of class or leaving during the class period--it’s distracting.
Academic integrity is important. Cheating will be dealt with harshly. You may discuss
homework and projects with other students but they are individual assignments, not team
projects. Therefore, if submitted assignments are identical or obviously copied, both parties
will be penalized. If you don’t understand how to do an assignment, contact me or a fellow
student but don’t copy another student’s results.
If the weather makes it possible that the University will be closed, check the Pace University
home page (www.pace.edu). Closing announcements are placed there as soon as the decision
is made. If you don’t have a computer, call 914-773-3398.
The University’s commitment to equal educational opportunities for students with disabilities includes
providing reasonable accommodations for the needs of students with disabilities. To request an
accommodation for a qualifying disability, a student must self-identify and register with the
Coordinator of Disability Services for his or her campus. No one, including faculty, is authorized
to evaluate the need and arrange for an accommodation except the Coordinator of Disability
Services. Moreover, no one, including faculty, is authorized to contact the Coordinator of
Disability Services on behalf of a student. For further information, please see Information for
Students with Disabilities on the University’s web site,
http://www.pace.edu/page.cfm?doc_id=5108
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8. Course information will be posted on the course website (www.blackboard.pace.edu). You
can have your Pace e-mail automatically forwarded to your home or work e-mail address
by putting the forwarding instructions on the Pace email system (http://email.pace.edu). You
should do this because you will be receiving messages from me to your official Pace email account.
9.
Assignment Schedule
Mon., January 23, 2011
 Read Ch.1 in Render. For each chapter you read, do the Self Test at the end of the chapter
and correct your answers.
 In your notebook, write out the answers to 1-14 to 1-22 (Chapter 1, Problems 14-22) in
Render, Stair and Hanna. Students will be selected at random to read their answers.
 Look at the course website (http://blackboard.pace.edu/). Announcements will be posted on
the site. If you haven’t done so, change your password using the Student Tools function but
don’t forget your password! Grades will be posted in the Gradebook under Student tools.
Wed., Jan. 25
 Prepare the Case Study on pp. 20-21 for discussion, not to hand in
 Read Ch. 2
Mon., Jan. 30
 Hand in Problems 1-20, 21, 22 (Chapter 1, Problems 20, 21 and 22) using Excel QM. Be
sure on all homework printouts to circle or highlight the answers to the questions.
 In your notebook, do the following problems from Chapter 2 in Render. We’ll go over them
in class and you will be able to check your work and ask questions: 2-14, 16, 18, 19, 23, 27,
31, 34, 38.
Wed., Feb. 1
 Read Ch. 3 (skip section 3.8)
 Hand in Solved Problem 2-1 (find the mean and variance), 2-33 and 41 using Excel or
Excel QM. See page 66. If you use Excel (rather than Excel QM) include your printouts
with the answers and with formulas (control + ~).
Mon., Feb. 6
 In your notes, do 3-19, 26, 27, 30, 31
Wed., Feb. 8
 Hand in Problems 3-16 and 19 using Excel QM
 Read Ch. 4
Mon., Feb 13
 In your notes, do 4-9, 10, 13, 16
Wed., Feb. 15
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Hand in Problems 4-18 and 19 using Excel
Read Ch. 5
Mon., Feb. 20
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No classes at Pace—President’s Day
Wed., Feb. 22
 In your notes, do 5-14, 19, 41 (online at www.prenhall.com/render).
Mon., Feb. 27
 Hand in 5-17, 22, 24 using Excel QM
 Read Ch. 6 (skip section 6.10)
Wed., Feb. 29
 In your notebook, do the following problems from Ch. 6 which we will go over in class: 26,
27, 33, 36, 66 (online)
Mon., Mar. 5
 Review for Midterm Exam
Wed., Mar. 7
 Midterm Exam on Ch. 1-6
Mon., Mar. 12 and Wed., Mar. 14
 No classes at Pace—Spring Break
Mon., Mar. 19
 Read Ch. 7
Wed., Mar. 21
 In your notes, do 7-22, 23
 You will be receiving your linear programming project problem during this class (each
student has a different one). It will be a “word problem” that you will have to formulate into
a mathematical model in linear programming format.
 Read Ch. 8
Mon., Mar. 26
 Hand in 6-21 and 68 using Excel QM
Wed., Mar. 28
 Hand in the formulation for your linear programming project:
 The definition of your variables (for example, let x1 = the number of units of Product
A produced each week, x2 = the number of ...etc.)
 The objective function (for example, Maximize 2x1 + 5x2 + 3x3 + x4)
 The constraints for your problem, including the non-negativity constraints (for
example,
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Subject to:
x1 + 2x2 + 5x3 + 3x4 <= 120
2x1
- x3
>= 10
5x1 + x2 + 3x3 + 2x4 <= 240
x1, x2, x3, x4 >= 0
In your notebook, do the following problems from Ch. 7 and 8 which we will we go over in
class: 7-16, 18 and formulate 8-1, 2, 6
Mon., Apr. 2
 Hand in 7-29 and 31 using Excel
Wed., April 4
 Read Ch. 13 (skip sections 13.3 and 13.4)
 I’ll be handing back your corrected formulation so you can begin solving it using Excel and
answering the questions for the project. The questions are on Blackboard in the Assignments
section
 Hand in 7-14, 17 and 8-4 using Excel
Mon., April 9
 Read Ch. 14
 In your notebook, do the problems 13-12 through 13-18
Wed., April 11
 In your notebook, do the following problems from Ch. 14: 11-14
 Read Ch. 15
Mon., April 16
 Hand in the Linear Programming Project. The questions to be answered are on the
Blackboard website under Assignments.
 In your notebooks, do the following problems from Ch. 15: 14-18, 32
Wed., April 18
 Class presentations of articles
Mon., April 23
 Class presentations of articles
Wed., April 25
 No day classes---Study Day (unless needed for a makeup snow day)
Mon., April 30
 Hand in 14-14 and 18 using Excel QM
 Hand in 15-14 and 19 using Excel
 Review for final exam
During Finals Week-- Day and Time to be Announced
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Final Exam on Ch. 7, 8, 13, 14, 15