This assessment requires students to investigate, analysis and report on a business decision scenario. The investigation will consider designing and testing the decision model with suitable data for the business scenario. Students also require presenting their models in class during separate presentation session. In this task, students are required to provide a summary of the literature review findings in a review format. As a guide, students should research academic journals, books or conference proceedings through ProQuest or Google Scholar. Normal referencing is expected in the review and the arguments must be supported with evidence from the literature. Therefore, to achieve a satisfactory result, students need to demonstrate strong commitment and diligence with this task. Applied project includes two main components:
1.Decision Model Proposal
Investigation of two separate models that apply to a given industry or a simulation that can be modelled to a given industry: sport, medicine, manufacturing, airlines, scheduling, etc.
2. Decision Model application
Students need to design and test their simulation model with suitable data for the business scenario. The model should be validated for its reliability. Data for simulation of LP, Regression, Decision Tree, Network distribution, Forecasting, etc., application from a business scenario, will be required for the walkthrough. The final submission should clearly explain the scenario in non-technical terms and provide suitable conclusions or insights about what students have learned from this analysis. The paper submitted must not be more than 2500-3000 words in length. Students also require to present (power-point) their models in class during separate presentation session. Harvard format referencing must be used.
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