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Developing Spreadsheet-Based Decision Support Systems

Book · January 2011

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Sandra Duni Eksioglu Michelle M. H. Seref

Clemson University Virginia Polytechnic Institute and State University
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CH00_FM_4769 2/23/07 10:22 AM Page i

Developing Spreadsheet-Based
Decision Support Systems
Using Excel and VBA for Excel

Michelle M.H. Şeref

Decision and Information Sciences
Warrington College of Business
University of Florida, Gainesville

Ravindra K. Ahuja
Industrial and Systems Engineering
University of Florida, Gainesville
and
Innovative Scheduling, Inc., Gainesville

Wayne L. Winston
Operations and Decision Technologies
Kelly School of Business
Indiana University, Bloomington

Dynamic Ideas
Belmont, Massachusetts
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Contents

PREFACE xiii

PART I: EXCEL ESSENTIALS

CHAPTER 1 Introduction 1
1.1 Introduction to Decision Support Systems 2
1.2 Defining a Decision Support System 3
1.3 Decision Support Systems Applications 5
1.4 Textbook Overview 6
1.5 Summary 8
1.6 Exercises 8

CHAPTER 2 Excel Basics and Formatting 9

2.1 Introduction 10
2.2 Defining the Set of Excel Objects 10
2.3 Entering Data into Cells 10
2.4 Understanding Excel Menus and Toolbars 13
2.5 Formatting 20
2.6 Summary 27
2.7 Exercises 28

CHAPTER 3 Referencing and Names 31

3.1 Introduction 32
3.2 Referencing Cells 32
3.3 Names for Cells, Ranges, and Worksheets 40
3.4 Summary 48
3.5 Exercises 48

CHAPTER 4 Functions and Formulas 53

4.1 Introduction 54
4.2 Formulas and Function Categories 54
v
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vi Contents

4.3 Logical and Information Functions 58

4.4 Text and Lookup & Reference Functions 66
4.5 Date & Time Functions 77
4.6 Mathematical and Trigonometry Functions 84
4.7 Statistical and Financial Functions 88
4.8 Conditional Formatting Formulas 95
4.9 Auditing 97
4.10 Summary 99
4.11 Exercises 99

CHAPTER 5 Charts 105

5.1 Introduction 106
5.2 Creating Charts with Chart Wizard 106
5.3 Working with Chart Options 111
5.4 Creating a Dynamic Chart 116
5.5 Summary 119
5.6 Exercises 120

CHAPTER 6 Pivot Tables 123

6.1 Introduction 124
6.2 Pivot Tables 124
6.3 Further Modifications 130
6.4 Pivot Charts 142
6.5 Summary 144
6.6 Exercises 144

CHAPTER 7 Statistical Analysis with Excel 147

7.1 Introduction 148
7.2 Understanding Data 148
7.3 Relationships in Data 161
7.4 Distributions 174
7.5 Summary 181
7.6 Exercises 182

CHAPTER 8 Using the Excel Solver to Solve Mathematical Programs 187

8.1 Introduction 188
8.2 Formulating Mathematical Programs 188
8.3 The Excel Solver 191
8.4 Applications of the Solver 202
8.5 Summary 216
8.6 Exercises 216

CHAPTER 9 Simulation 221

9.1 Introduction 222
9.2 Defining Simulation 222
9.3 Applications 233
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9.4 Summary 240

9.5 Exercises 240

CHAPTER 10 Working with Large Data 245

10.1 Introduction 246
10.2 Importing Data 246
10.3 Exporting Data 255
10.4 Creating Pivot Tables from External Data 256
10.5 Using Excel as a Database 258
10.6 Summary 278
10.7 Exercises 279

PART II: VBA FOR EXCEL

CHAPTER 11 Introduction to the Visual Basic Environment 283
11.1 Introduction 284
11.2 The Visual Basic Editor 284
11.3 The Object Browser 287
11.4 Summary 289
11.5 Exercises 290

CHAPTER 12 Recording Macros 291

12.1 Introduction 292
12.2 Macros 292
12.3 Customizing Toolbars and Menu Options 306
12.4 Summary 310
12.5 Exercises 311

CHAPTER 13 More on Objects 315

13.1 Introduction 316
13.2 More on Properties and Methods 316
13.3 The With Construct 344
13.4 Referencing and Names in VBA 347
13.5 Formulas in VBA 355
13.6 Summary 361
13.7 Exercises 361

CHAPTER 14 Variables 367

14.1 Introduction 368
14.2 Variable Declarations and Data Types 368
14.3 Variable Scope 372
14.4 Variables in User Interface 373
14.5 VBA Math Functions 376
14.6 Applications 381
14.7 Summary 392
14.8 Exercises 393
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viii Contents

CHAPTER 15 Sub Procedures and Function Procedures 399

15.1 Introduction 400
15.2 Sub Procedures 400
15.3 Function Procedures 402
15.4 Public and Private Procedures 405
15.5 Applications 406
15.6 Summary 409
15.7 Exercises 410

CHAPTER 16 Programming Structures 413

16.1 Introduction 414
16.2 If, Then Statements 414
16.3 Select Case 419
16.4 Loops 420
16.5 Exit Statements and End 423
16.6 Applications 427
16.7 Summary 434
16.8 Exercises 434

CHAPTER 17 Arrays 439

17.1 Introduction 440
17.2 When and Why to Use Arrays 440
17.3 Defining Arrays 440
17.4 Dynamic Arrays 442
17.5 Sorting Arrays 444
17.6 Applications 445
17.7 Summary 450
17.8 Exercises 451

CHAPTER 18 User Interface 455

18.1 Introduction 456
18.2 User Form Controls 456
18.3 User Form Options 472
18.4 Event Procedures 473
18.5 Variable Scope 476
18.6 Error Checking 477
18.7 Importing and Exporting Forms 479
18.8 Navigating 479
18.9 Professional Appearance 480
18.10 Applications 481
18.11 Summary 492
18.12 Exercises 493
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Contents ix

CHAPTER 19 The Solver Revisited 499

19.1 Introduction 500
19.2 Review of Chapter 8 500
19.3 Solver Commands in VBA 503
19.4 Applications 508
19.5 Summary 514
19.6 Exercises 515

CHAPTER 20 Simulation Revisited 519

20.1 Introduction 520
20.2 Review of Chapter 9 520
20.3 Simulation with VBA 521
20.4 Applications 526
20.5 Summary 531
20.6 Exercises 532

CHAPTER 21 Working with Large Data Using VBA 537

21.1 Introduction 538
21.2 Creating Pivot Tables with VBA 538
21.3 Using External Data 544
21.4 Exporting Data 557
21.5 Applications 558
21.6 Summary 565
21.7 Exercises 566

PART III: CASE STUDIES

CHAPTER 22 The DSS Development Process 571
22.1 Defining the DSS Development Process 572
22.2 Application Overview and Model Development 572
22.3 Worksheets 574
22.4 User Interface 580
22.5 Procedures 587
22.6 Re-solve Options 589
22.7 Testing and Final Packaging 593
22.8 Summary 594
22.9 Exercises 594

CHAPTER 23 GUI Design 595

23.1 GUI Design 596
23.2 The Theory Behind Effective GUI Design 596
23.3 Effective and Ineffective GUI Design 602
23.4 Summary 607
23.5 Exercises 607
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x Contents

CHAPTER 24 Programming Principles 609

24.1 Programming Practices 610
24.2 Clarity 610
24.3 Efficiency 611
24.4 Summary 613
24.5 Excercises 613

CASE STUDY 1 Birthday Simulation 615

CASE STUDY 2 Eight Queens 629

CASE STUDY 3 Inventory Management 649

CASE STUDY 4 Warehouse Layout 669

CASE STUDY 5 Forecasting Methods 699

CASE STUDY 6 Facility Layout 721

CASE STUDY 7 Portfolio Management and Optimization 741

CASE STUDY 8 Reliability Analysis 765

CASE STUDY 9 Retirement Planning 791

CASE STUDY 10 Queuing SImulation: Single Server and Multi Server 815

APPENDIX A Excel Add-Ins 843

A.1 Introduction 844
A.2 Including Add-Ins and References using VBA 844
A.3 Data Analysis Toolpack 847
A.4 The Solver 847
A.5 @RISK 853
A.6 Crystal Ball 854
A.7 StatTools 854
A.8 Summary 854

APPENDIX B Debugging and Error Checking 855

B.1 Introduction 856
B.2 Types of Errors 856
B.3 The Debug Toolbar 857
B.4 The Debug Windows 859
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B.5 Debugging Tips 861

B.6 Error Checking 862
B.7 Summary 866

APPENDIX C Advanced Programming Topics 867

C.1 Introduction 868
C.2 Object-Oriented Programming in VBA for Excel 868
C.3 Opening Other Applications From VBA 875
C.4 Summary 880

REFERENCES 881

ABOUT THE AUTHORS 883

INDEX 885

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