Management science project. BMW company

The objective of this assignment is to illustrate the applicability of models to create a new product or service. Think about your company and how you can use the models we’ve learned in class to determine what product(s) or service(s) might be fitting and what steps that might entail. 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 a multiple regression model (including correlation) with at least two predictors – and the rationale for including those predictors. You should conduct a confidence interval analysis for your prediction. Finally, discuss how well your multiple regression model predicts your desired outcome and which variable is the best predictor of your outcome.

· Your model must have at least 8 data points.

Analysis of a PERT/CPM Model

· Your model needs to be designed for uncertain conditions and should be accompanied by analyses for at least two probability circumstances, including a budget for the project that reflects your completion time(s).

· Your model must have at least 9 activities.

Analysis of a Linear Programming Model

· 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 4 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 company’s 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 partner(s).

Integrative Project Report Outline

You should produce a written report of your model applications. Your report should include the following elements.

Cover Page

I) Table of Contents (1 Page)

II) 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 products or services that will be introduced? Describe your models and how they will address the issues.

III) Analysis of Your Model One (2 Pages)

IV) Analysis of Your Model Two (2 Pages)

V) Analysis of Your Model Three (2 Pages)

Within each model, you should discuss the purpose of the model. You should describe the details of each model. Exact formulas should not 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 how do they apply to the company and its issue?

VI) Implementation (1-2 Pages)

What comes next? Describe how your system will be implemented. 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)? Etc.

VII) Conclusion (1 Page)

Finally, describe the overall results of the models and explain how it has addressed the issue within your company.

Appendix A – Model One Formulation & Solution

Appendix B – Model Two Formulation & Solution

Appendix C – Model Three Formulation & Solution