4. Technical Description of the Model
A formal mathematical statement of the model should be given with a description of the solution method used. For example, if an optimization model is used, an annotated
list of variables, constraints and objectives should be provided. If a simulation is developed, a flowchart of the model's logic and description of the probability distributions used would be
appropriate. Include a description of the problem dimensions: number of linear and integer variables, constraints, etc.
Include the sources of the data used. Were theoretical values assumed? Were expected values calculated from historical data? Were realistic hypothetical values used? Were
any simplifying assumptions made?
Also describe the solution method or software that was used. If computational work is done you may wish to show the output from the example case. If software was developed,
user documentation should be included as an appendix.
5. Analysis and Managerial Interpretation
This should be a thorough analysis of the data or model output, and its meanings to management. This should include any findings, and the meaning of the data or output from
a management policy standpoint. Basically, what did the study discover?
Justify your statements with specifics from the solution output. What are the effects of the assumptions and do they seem valid? Does a sensitivity or parametric analysis
indicate coefficients that are crucial in a policy sense?
6. Conclusions and Critique
Summarize the work and make recommendations to management. If some of your ideas have already been implemented, describe the results. Also,
provide a good self-critique, including limitations of the model as you see it and make suggestions for further study.
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