Strayer CIS 331 System Modeling Theory, Management science: The art of modeling with Spreadsheets.Data Analysis for Modeling, Explain the concepts related to data analysis in the service of modeling to include: Base case analysis, Sensitivity analysis, Searching, Sorting, Filtering, Tabulating, Explain the concepts related to estimating parameters Define exponential smoothing.
The spreadsheet Tissue contains more than 3700 line items representing roughly 50 items sold at a retail chain of 6 stores with ten weeks of sales for each store on all items. You will need to download this spreadsheet and use it to create the items in this assignment. I have also uploaded a short video on how to make the pivot tables and other data.
You have been given the task to analyze the data in the spreadsheet tissue.xlsx and management want these specific information out of the table.
1. Compile a pivot table tabulating number of units sold (MOVE) by product (DESCRIP) Have the Pivot table create on a new tab (worksheet) and rename the tab One
2. Compile a pivot table that tabulates sales units (MOVE) broken down by Brand (DESCIP) and week (WEEK). Have the Pivot table create on a new tab (worksheet) and rename the tab Two
3. Compile a Pivot table that give the tabulations of Sales Units (MOVE) broken down by Brand (DESCRIP) week (WEEK) and by store (STORE). Have the Pivot table create on a new tab (worksheet) and rename the tab Three
4. Using the answer from question 3 copy out the highest selling item by sales by store by week out of the pivot table. Paste the data into a worksheet named Four. Reorganize the data so it gives the total profit for this one itemby store only. Use the price of sales for each item as $0.59 and profit margin of 18% per item sold. Hint: My Video copies the total line at the bottom. Totals are at the top and the data is below it. You need to reverse it here to have totals at the bottom.
You can leave the pivot tables as is and please make the data in #4 as easy for the management to understand. There is no real correct way to display as long as it is easy to understand and the calculations are correct. So formatting is the key.
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Modeling is the process of creating a simplified representation of reality and working with this representation in order to understand or control some aspect of the world. While this book is devoted to mathematical models, modeling itself is a ubiquitous human activity. In fact, it seems to be one of just a few fundamental ways in which we humans understand our environment. As an example, a map is one of the most common models we encounter. Maps are models because they simplify reality by leaving out most geographic details in order to highlight the important features we need. A state road map, for example, shows major roads but not minor ones, gives rough locations of cities but not individual addresses, and so on. The map we choose must be appropriate for the need we have: a long trip across several states requires a regional map, while a trip across town requires a detailed street map. In the same way, a good model must be appropriate for the specific uses intended for it. A complex model of the economy is probably not appropriate for pricing an individual product. Similarly, a back-of-theenvelope calculation is likely to be inappropriate for acquiring a multibillion-dollar company
Models take many different forms: mental, visual, physical, mathematical, and spreadsheet, to name a few. We use mental models constantly to understand the world and to predict the outcomes of our actions. Mental models are informal, but they do allow us to make a quick judgment about the desirability of a particular proposal. For example, mental models come into play in a hiring decision. One manager has a mental model that suggests that hiring older workers is not a good idea because they are slow to adopt new ways; another manager has a mental model that suggests hiring older workers is a good idea because they bring valuable experience to the job. We are often unaware of our own mental models, yet they can have a strong influence on the actions we take, especially when they are the primary basis for decision making