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Business Decision Analytics under Uncertainty, Spring 2022

Midterm Exam (All sections: March 7, 2021)

Question 1 (35 points)

See the Excel  file  Production Planning v*  (the placeholder  *  refers to  your exam version). Document your entire work within this file.

1.1. For each product, first set the minimal number of items produced to  10, and the maximal number of items produced to 100. Solve the model. Generate Answer Report 1.

1.2. Can you increase the profit by changing some parameter settings? If yes, then propose such changes and resolve the model to find the best possible profit value. Generate Answer Report 2.

1.3. Define range names with corresponding cells. You can do this as the first step, or after completing steps 1.1 and 1.2.

Question 2 (20 points)

See the Excel file Postal Delivery Box Design v* (your exam version). Steps required: develop and  solve the model. Range names are not required, but can be used at your discretion.

Document your entire work within this file.

Question 3 (25 points)

See the problem described by the Excel file Decision Rule Examples v* (your exam version). Document your entire work within this file.

Question 4 (20 points)

See the problem described by the Excel file Decision Tree Example v* (your exam version). Document your entire work within this file.