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With the development of information technology, advertising is becoming more intrusive in our daily lives. Discuss the pros and cons of advertising of medical and pharmaceutical products? Should the government impose more restrictions on advertising on these products? If so, under what conditions?

Explain the concept of risk analysis and how Monte Carlo simulation can provide useful information for making decisions.

Explain basic spreadsheet approaches for implementing decision models in Excel.

Prepare and analyze a consumer decision tree and relate it to marketing strategy. Ask a class member to consider a recent consumer gift purchase. Interview a class member concerning this gift purchase. Develop a consumer decision tree for this gift purchase. Write a summary describing the gifting rules for this decision and analyze the decision … Read more

Describe how to use Excel data tables, Scenario Manager, and goal seek tools to analyze decision models

What is a decision model, and what are the three types of inputs common to decision models?

What is process capability? How is it measured?

4. List the principal rules for examining a control chart to determine if the process is in control.

3. Describe the steps involved in applying statistical process control.

2. Summarize some of the practical issues in using forecasting tools and approaches.