Management Science: The Art of Modeling with Spreadsheets

by Stephen G. Powell

work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address the environmental, social, economic, and ethical challenges we face in our business. Among the issues we are addressing are carbon impact, paper specifications and procurement, ethical conduct within our business and among our vendors, and community and charitable support. For more information, please visit our website: www.wiley.com/go/citizenship. Copyright # 2009, 2007, 2004, John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States

are provided to qualified academics and professionals for review purposes only, for use in their courses during the next academic year. These copies are licensed and may not be sold or transferred to a third party. Upon completion of the review period, please return the evaluation copy to Wiley. Return instructions and a free of charge return shipping label are available at www.wiley.com/go/ returnlabel. Outside of the United States, please contact your local representative. Library of Congress Cataloging-in-Publication Data Powell, Stephen G. Management science : the art of modeling with spreadsheets / Stephen G. Powell, Kenneth R. Baker. — 3rd ed. p. cm. Includes index. ISBN 978-0-470-53067-2 (hardback) 1. Business—Computer simulation. 2. Electronic spreadsheets. I. Baker, Kenneth R., 1943– II. Title. HF5548.2.P654 2010 650.01 0 13—dc22 2010028572 Printed in the United States of America