Assignment: Integrative Project
You and your partners have been hired by _____and you will be responsible for the formulation, solution, and analysis of three mathematical models.The models should be designed to fix or accentuate an issue for your organization.
The objective of this assignment is to illustrate the applicability of models designed to address a business decision. Think about your company and how you can use the models we've learned in class to address an issue the company may have, create something new for the company, or even enhance their existing operations. The specifics of the project are up to you, but the following models must be used.
Analysis of a Forecasting Model
• You will need to use one time-series model and one simple regression model (including correlation), including accuracy measures for each model.Additionally, you should conduct a confidence interval analysis for the first forecasted value on the model you believe to be most appropriate for your project (include the reasons why you consider that model to be most appropriate).
• Your model must have at least 10 data points.
Analysis of a PERT/CPMModel
• Your model needs to be designed for uncertain conditionsand should be accompanied by analyses for at least two probability circumstances, including costs and a budget for the project that reflect your completion time(s).
• Your model must have at least 9 activities.
Analysis of a Linear ProgrammingModel
• Based on the project you decide to create, you will need to formulate a Linear Program. Your linear program will have at least 4 variables and at least 5 constraints. Standardize all constraints where applicable. Media Selection LPs will not be accepted.
• You should also solve and interpret the sensitivity analysis, discussing the results most relevant to your problem.
The order of models used in the system is for you to decide. You should sequence the models in such a manner that they help solve your perceived company issue. The models should all be designed to address the company issue you have identified. In addition to the final report, you will also rate the participation and contribution of your partners.
Integrative Project Outline
I) Cover Page
II) Executive Summary (1 Page)
III) Table of Contents (1 Page)
IV) Introduction (1-2 Pages)
The introduction should include a brief summary of your company. What do they do? What products, services, processes, and/or inputs do we need to know in order to understand the company? Moreover, what is the organization's issue that needs to be addressed?Describeyoursystemand how it willaddress the issue.
V) Analysis of YourModel One(2 Pages)
VI) Analysis of YourModel Two (2 Pages)
VII) Analysis of YourModel Three(2 Pages)
Within each model, you should discuss the purpose of the model. You should describe the details of each model. Exact formulas do not need to be included in the body of the paper, but should be clearly identified in the appendices. Additionally, provide the solution for each model. Be sure to address the various elements required of each model. Finally, each model should include an interpretation. What is the meaning of the results and what do they mean for the company and its issue?
VIII) Implementation(1-2 Pages)
Describe how your system will be implemented. Additionally, based on the results of your analysis, what needs to change in the organization? What timeframe will you establish for making these changes? Who should be involved in the changes and who needs to know about them (e.g., internal and/or external people)?
IX) Conclusion(1 Page)
Finally, describe the overall results of the system and explain how it has addressed the issue within your company.
Appendix A - Model One Solution
Appendix B - Model Two Solution
Appendix C - Model Three Solution.
Attachment:- Integrative_Project.rar