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Chapter 2

Introduction to Spreadsheet Modeling. Chapter 2. Introduction. Introduction to Excel modeling illustrates some interesting and relatively simple models. Modeling process less well known, but particularly helpful, Excel tools that are available. Spreadsheet Modeling.

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Chapter 2

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  1. Introduction to Spreadsheet Modeling Chapter 2

  2. Introduction • Introduction to Excel modeling • illustrates some interesting and relatively simple models. • Modeling process • less well known, but particularly helpful, Excel tools that are available

  3. Spreadsheet Modeling • Elements of a spreadsheet/mathematical models • Inputs • Known, estimated, uncertain • Decision variables • Values must be determined using the model • Outputs • Values of interest • Computed from the inputs and the decision variables.

  4. Spreadsheet Modeling • Using the model • Optimization • Sensitivity analysis • Prepare reports

  5. Best practices • Readability of the model • Clear and logical layout • Separation of different parts of a model • Clear headings for all inputs, decision variables, and outputs • Range names • Formatting features – bold, italics, coloring, etc. • Cell comments • Text boxes for assumptions and explanations

  6. Best practices • Modelling • The formulas and logic must be correct • Breakdown computations to small chunks and build • Model must be flexible for modification • Plan ahead, revise your plan as needed

  7. Six models

  8. Six models

  9. Summary of Management Science terms

  10. Summary of Key Excel Terms

  11. Summary of Key Excel Terms

  12. Summary of Key Excel Terms

  13. Summary of Key Excel Terms

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