After completing this chapter, you should be able to:
- Describe the importance of management science.
- Describe the advantages of a quantitative approach to problem solving.
- List some of the applications and use of management science models.
- Discuss the types of models most useful in management science.
- Demonstrate the basic building blocks and components of Excel.
- Describe the basic nature and usefulness of break-even analysis.
- List and briefly explain each of the components of break-even analysis.
- Solve typical break-even problems manually and with Excel.