This case presents a decision problem concerning where to hold next year's association meetings. It provides a rich opportunity to introduce the use of small amounts of historical data (10 data points) in assessing probability distributions. It also involves several other continuous and discrete distributions that need to be included in a spreadsheet-simulation model that the student builds. Because the case leaves unclear whether the ultimate performance measure for next year's conference should be profitability or increase in attendance, it also offers an opportunity to discuss multiple objectives. In short, the case is an interesting decision problem that requires (1) using data to assess probability distributions and (2) solving a spreadsheet-simulation model.
Estimated Submission On |