Accession Number : ADA302709

Title :   Decision Analysis Consulting Projects.

Descriptive Note : Final rept. Aug 94-May 95,

Corporate Author : AIR FORCE ACADEMY COLORADO SPRINGS CO

Personal Author(s) : Stonebraker, Jeffrey S. ; Dulin, Johnathon L. ; Friedland, James E. ; Olson, Jessica J.

PDF Url : ADA302709

Report Date : 30 JUN 1995

Pagination or Media Count : 65

Abstract : This report discusses a decision analysis course taught the fall semester of 1994 at the United States Air Force Academy. Students assisted five companies in the Colorado Springs business community make multi-million dollar, strategic decisions. The consultation-based format of this course provided an excellent opportunity for the students to solve real-world problems in a team-oriented manner. The students learned that such problems are not standard textbook problems. There are no answers in the back of the book. Rather, they learned that real-world problems require modeling assumptions, clear communication, and the ability to get along with others. Both the students and the companies benefited from this course.The companies received insight to one decision, while the students participated in an unique learning experience.

Descriptors :   *COMMERCE, *DECISION MAKING, *OPERATIONS RESEARCH, MATHEMATICAL MODELS, OPTIMIZATION, MARKET RESEARCH, LESSONS LEARNED, SKILLS, ECONOMIC IMPACT, STRATEGIC ANALYSIS, STUDENTS, PARAMETERS, MAXIMUM LIKELIHOOD ESTIMATION, PROBABILITY, TEAMS(PERSONNEL), PROBLEM SOLVING, MATHEMATICAL PROGRAMMING, AIR FORCE PERSONNEL, DECISION THEORY, COST MODELS, COURSES(EDUCATION), INDUSTRIAL RESEARCH, PROFITS, FINANCE, ECONOMIC MODELS, REVENUE SHARING, TRANSFER OF TRAINING.

Subject Categories : Economics and Cost Analysis
      Psychology
      Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE