Task 1

The document outlines an integrative project where students will use three mathematical models to propose a new product or service for their assigned company. Students must analyze a linear programming model with at least 4 variables and 5 constraints, a multiple regression forecasting model with at least two predictors and 8 data points, and a PERT/CPM project model with at least 10 activities and probability analyses for two circumstances. The report should include an introduction of the company and new product/service, analysis of each model, implementation steps, and conclusion of how the models addressed the issue.

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Task 1

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BMGT 3371 Integrative Project

You and your partner(s) have been hired by _____ and you will be responsible for the
formulation, solution, and analysis of three mathematical models.

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. You should provide your organization with new information; you must
tell them something they don’t already know.

The specifics of the project are up to you, but the models below must be used and should
all be designed to address the new product/service. The order of models used in the
system is for you to decide. You should sequence them in such a manner that they help
introduce the new product/service.

You will also rate the participation and contribution of your partner(s).

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 5
constraints. Standardize all constraints where applicable. Your LP model should
address issues that are unique to your new product/service. Media Selection LPs
will not be accepted.

 You should also solve and interpret the output and perform sensitivity analysis,
discussing the results most relevant to your problem.

Analysis of a Forecasting Model

 You will need to use a multiple regression model (including correlation) with at
least two predictors. Provide rationale for why those predictors were used. 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 probability analyses for at least two circumstances. Include a
budget for the project that reflects your completion time(s) and probabilities.

 Your model must have at least 10 activities.

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

I. Cover Page

II. Table of Contents (1 Page)

III. 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 new products or services
that you will introduce? Describe your models and how they will address the situation.

IV – VI. Analysis of Each of the Three Models (2 Pages Each)

The order of the models is for you to decide – whatever most clearly addresses the
various elements that are needed to develop your new product or service.

For each model, you should discuss the context and purpose of the model. You should
describe the details of each model and provide the solution for each model. Additionally,
be sure to address the various elements required of each model. Finally, each model
should include an interpretation. What are the meanings of the results and how do they
apply to the company and its issue? (Exact formulas should not be included in the body
of the paper but should be identified in the appendices.)

VII. Implementation (1-2 Pages)

What comes next? Describe how your new product(s) or service(s) will be implemented
beyond what the three models have addressed. 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.