,Quantitative Analysis
For Management
ELEVENTH EDITION
BARRY RENDER
Charles Harwood Professor of Management Science
Graduate School of Business, Rollins College
RALPH M. STAIR, JR.
Professor of Information and Management Sciences,
Florida State University
MICHAEL E. HANNA
Professor of Decision Sciences,
University of Houston—Clear Lake
Boston Columbus Indianapolis New York San Francisco Upper Saddle River
Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto
Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo
, To my wife and sons – BR
To Lila and Leslie – RMS
To Susan, Mickey, and Katie – MEH
Editorial Director: Sally Yagan Manager, Rights and Permissions:
Editor in Chief: Eric Svendsen Hessa Albader
Senior Acquisitions Editor: Chuck Synovec Cover Art: Shutterstock
Product Development Manager: Ashley Santora Media Project Manager, Editorial:
Director of Marketing: Patrice Lumumba Jones Allison Longley
Senior Marketing Manager: Anne Fahlgren Media Project Manager, Production:
Marketing Assistant: Melinda Jones John Cassar
Senior Managing Editor: Judy Leale Full-Service Project Management:
Project Manager: Mary Kate Murray PreMediaGlobal
Senior Operations Specialist: Arnold Vila Composition: PreMediaGlobal
Operations Specialist: Cathleen Petersen Printer/Binder: Edwards Brothers
Senior Art Director: Janet Slowik Cover Printer: Lehigh-Phoenix Color/Hagerstown
Art Director: Steve Frim Text Font: 10/12 Times
Text and Cover Designer: Wee Design Group
Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear
on appropriate page within text.
Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries.
Screen shots and icons reprinted with permission from the Microsoft Corporation. This book is not sponsored or
endorsed by or affiliated with the Microsoft Corporation.
Copyright © 2012, 2009, 2006, 2003, 2000 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street,
Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publi-
cation is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited repro-
duction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopy-
ing, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to
Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458.
Many of the designations by manufacturers and seller to distinguish their products are claimed as trademarks. Where
those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been
printed in initial caps or all caps.
CIP data for this title is available on file at the Library of Congress
10 9 8 7 6 5 4 3 2 1
ISBN-13: 978-0-13-214911-2
ISBN-10: 0-13-214911-7
, ABOUT THE AUTHORS
Barry Render Professor Emeritus, the Charles Harwood Distinguished Professor of management sci-
ence at the Roy E. Crummer Graduate School of Business at Rollins College in Winter Park, Florida.
He received his MS in Operations Research and his PhD in Quantitative Analysis at the University of
Cincinnati. He previously taught at George Washington University, the University of New Orleans,
Boston University, and George Mason University, where he held the Mason Foundation Professorship
in Decision Sciences and was Chair of the Decision Science Department. Dr. Render has also worked
in the aerospace industry for General Electric, McDonnell Douglas, and NASA.
Dr. Render has coauthored 10 textbooks published by Prentice Hall, including Managerial
Decision Modeling with Spreadsheets, Operations Management, Principles of Operations
Management, Service Management, Introduction to Management Science, and Cases and Readings
in Management Science. Dr. Render’s more than 100 articles on a variety of management topics
have appeared in Decision Sciences, Production and Operations Management, Interfaces,
Information and Management, Journal of Management Information Systems, Socio-Economic
Planning Sciences, IIE Solutions and Operations Management Review, among others.
Dr. Render has been honored as an AACSB Fellow, and he was named a Senior Fulbright
Scholar in 1982 and again in 1993. He was twice vice president of the Decision Science Institute
Southeast Region and served as software review editor for Decision Line from 1989 to 1995. He has
also served as editor of the New York Times Operations Management special issues from 1996 to
2001. From 1984 to 1993, Dr. Render was president of Management Service Associates of Virginia,
Inc., whose technology clients included the FBI; the U.S. Navy; Fairfax County, Virginia and C&P
Telephone.
Dr. Render has taught operations management courses in Rollins College’s MBA and
Executive MBA programs. He has received that school’s Welsh Award as leading professor and was
selected by Roosevelt University as the 1996 recipient of the St. Claire Drake Award
for Outstanding Scholarship. In 2005, Dr. Render received the Rollins College MBA Student Award
for Best Overall Course, and in 2009 was named Professor of the Year by full-time MBA students.
Ralph Stair is Professor Emeritus at Florida State University. He earned a BS in chemical engineer-
ing from Purdue University and an MBA from Tulane University. Under the guidance of Ken
Ramsing and Alan Eliason, he received a PhD in operations management from the University of
Oregon. He has taught at the University of Oregon, the University of Washington, the University of
New Orleans, and Florida State University.
He has twice taught in Florida State University’s Study Abroad Program in London. Over the
years, his teaching has been concentrated in the areas of information systems, operations research,
and operations management.
Dr. Stair is a member of several academic organizations, including the Decision Sciences
Institute and INFORMS, and he regularly participates at national meetings. He has published
numerous articles and books, including Managerial Decision Modeling with Spreadsheets,
Introduction to Management Science, Cases and Readings in Management Science, Production and
Operations Management: A Self-Correction Approach, Fundamentals of Information Systems,
Principles of Information Systems, Introduction to Information Systems, Computers in Today’s
World, Principles of Data Processing, Learning to Live with Computers, Programming in BASIC,
Essentials of BASIC Programming, Essentials of FORTRAN Programming, and Essentials of
COBOL Programming. Dr. Stair divides his time between Florida and Colorado. He enjoys skiing,
biking, kayaking, and other outdoor activities.
iii
For Management
ELEVENTH EDITION
BARRY RENDER
Charles Harwood Professor of Management Science
Graduate School of Business, Rollins College
RALPH M. STAIR, JR.
Professor of Information and Management Sciences,
Florida State University
MICHAEL E. HANNA
Professor of Decision Sciences,
University of Houston—Clear Lake
Boston Columbus Indianapolis New York San Francisco Upper Saddle River
Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto
Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo
, To my wife and sons – BR
To Lila and Leslie – RMS
To Susan, Mickey, and Katie – MEH
Editorial Director: Sally Yagan Manager, Rights and Permissions:
Editor in Chief: Eric Svendsen Hessa Albader
Senior Acquisitions Editor: Chuck Synovec Cover Art: Shutterstock
Product Development Manager: Ashley Santora Media Project Manager, Editorial:
Director of Marketing: Patrice Lumumba Jones Allison Longley
Senior Marketing Manager: Anne Fahlgren Media Project Manager, Production:
Marketing Assistant: Melinda Jones John Cassar
Senior Managing Editor: Judy Leale Full-Service Project Management:
Project Manager: Mary Kate Murray PreMediaGlobal
Senior Operations Specialist: Arnold Vila Composition: PreMediaGlobal
Operations Specialist: Cathleen Petersen Printer/Binder: Edwards Brothers
Senior Art Director: Janet Slowik Cover Printer: Lehigh-Phoenix Color/Hagerstown
Art Director: Steve Frim Text Font: 10/12 Times
Text and Cover Designer: Wee Design Group
Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear
on appropriate page within text.
Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries.
Screen shots and icons reprinted with permission from the Microsoft Corporation. This book is not sponsored or
endorsed by or affiliated with the Microsoft Corporation.
Copyright © 2012, 2009, 2006, 2003, 2000 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street,
Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publi-
cation is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited repro-
duction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopy-
ing, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to
Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458.
Many of the designations by manufacturers and seller to distinguish their products are claimed as trademarks. Where
those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been
printed in initial caps or all caps.
CIP data for this title is available on file at the Library of Congress
10 9 8 7 6 5 4 3 2 1
ISBN-13: 978-0-13-214911-2
ISBN-10: 0-13-214911-7
, ABOUT THE AUTHORS
Barry Render Professor Emeritus, the Charles Harwood Distinguished Professor of management sci-
ence at the Roy E. Crummer Graduate School of Business at Rollins College in Winter Park, Florida.
He received his MS in Operations Research and his PhD in Quantitative Analysis at the University of
Cincinnati. He previously taught at George Washington University, the University of New Orleans,
Boston University, and George Mason University, where he held the Mason Foundation Professorship
in Decision Sciences and was Chair of the Decision Science Department. Dr. Render has also worked
in the aerospace industry for General Electric, McDonnell Douglas, and NASA.
Dr. Render has coauthored 10 textbooks published by Prentice Hall, including Managerial
Decision Modeling with Spreadsheets, Operations Management, Principles of Operations
Management, Service Management, Introduction to Management Science, and Cases and Readings
in Management Science. Dr. Render’s more than 100 articles on a variety of management topics
have appeared in Decision Sciences, Production and Operations Management, Interfaces,
Information and Management, Journal of Management Information Systems, Socio-Economic
Planning Sciences, IIE Solutions and Operations Management Review, among others.
Dr. Render has been honored as an AACSB Fellow, and he was named a Senior Fulbright
Scholar in 1982 and again in 1993. He was twice vice president of the Decision Science Institute
Southeast Region and served as software review editor for Decision Line from 1989 to 1995. He has
also served as editor of the New York Times Operations Management special issues from 1996 to
2001. From 1984 to 1993, Dr. Render was president of Management Service Associates of Virginia,
Inc., whose technology clients included the FBI; the U.S. Navy; Fairfax County, Virginia and C&P
Telephone.
Dr. Render has taught operations management courses in Rollins College’s MBA and
Executive MBA programs. He has received that school’s Welsh Award as leading professor and was
selected by Roosevelt University as the 1996 recipient of the St. Claire Drake Award
for Outstanding Scholarship. In 2005, Dr. Render received the Rollins College MBA Student Award
for Best Overall Course, and in 2009 was named Professor of the Year by full-time MBA students.
Ralph Stair is Professor Emeritus at Florida State University. He earned a BS in chemical engineer-
ing from Purdue University and an MBA from Tulane University. Under the guidance of Ken
Ramsing and Alan Eliason, he received a PhD in operations management from the University of
Oregon. He has taught at the University of Oregon, the University of Washington, the University of
New Orleans, and Florida State University.
He has twice taught in Florida State University’s Study Abroad Program in London. Over the
years, his teaching has been concentrated in the areas of information systems, operations research,
and operations management.
Dr. Stair is a member of several academic organizations, including the Decision Sciences
Institute and INFORMS, and he regularly participates at national meetings. He has published
numerous articles and books, including Managerial Decision Modeling with Spreadsheets,
Introduction to Management Science, Cases and Readings in Management Science, Production and
Operations Management: A Self-Correction Approach, Fundamentals of Information Systems,
Principles of Information Systems, Introduction to Information Systems, Computers in Today’s
World, Principles of Data Processing, Learning to Live with Computers, Programming in BASIC,
Essentials of BASIC Programming, Essentials of FORTRAN Programming, and Essentials of
COBOL Programming. Dr. Stair divides his time between Florida and Colorado. He enjoys skiing,
biking, kayaking, and other outdoor activities.
iii
