Backward pass, 394

Backwards stepwise procedure, 131

Bad decisions, 63

Bagwell Chemical Company, 361–362

Balking, 430, 434

Bank of America, 532

Bayes, Thomas, 28

Bayes’ Theorem

• estimating probability values, 83–85

• general form of, 28–29

• probabilities and, 27–29

Bell Laboratories, 531

BEP. See Break-even point (BEP)

Bernoulli process, 35–36

Best level of service, 428

Beta probability distribution, 391

Bias, 153

Bill of materials (BOM), 215

Binary variables, 129

• modeling, 363–368

• modeling with 0–1 variables, 363–368

• regression models, 129–130

Binding constraint, 251

Binomial distribution, 35–38

Binomial formula and problem solving, 36

Binomial tables and problem solving, 37–38

Blake, Steve, 108–109

Blake Electronics, 108–109

Blending problems, 306–308

Boeing Corporation simulation, 461

BOM. See Bill of materials (BOM)

Booz Allen Hamilton, 388, 484

Box filling example, 534–535

• Excel QM for, 535–536

Brass Department Store quantity discount model, 202–203

Break-even point (BEP), 8, 9, 10, 11, 12

Brier, 39

Brown Manufacturing production run model, 198–199

Budgeting process, 400–404

• four stpng of, 400

Business analytics, 2–3, 74

Business games, 484

Business system simulation, 461–462