GLOBAL
EDITION
Quantitative Analysis
for Management
THIRTEENTH EDITION
Barry Render • Ralph M. Stair, Jr. • Michael E. Hanna • Trevor S. Hale
18/04/17 5:1
, T H I R T E E N T H E D I T I O N
G L O B A L E D I T I O N
QUANTITATIVE ANALYSIS
for MANAGEMENT
BARRY RENDER
Charles Harwood Professor Emeritus of Management Science
Crummer Graduate School of Business, Rollins College
RALPH M. STAIR, JR.
Professor Emeritus of Information and Management Sciences,
Florida State University
MICHAEL E. HANNA
Professor of Decision Sciences,
University of Houston–Clear Lake
TREVOR S. HALE
Associate Professor of Management Sciences,
University of Houston–Downtown
Harlow, England • London • New York • Boston • San Francisco • Toronto • Sydney • Dubai • Singapore • Hong Kong
Tokyo • Seoul • Taipei • New Delhi • Cape Town • Sao Paulo • Mexico City • Madrid • Amsterdam • Munich • Paris • Milan
A01_REND7659_13_GE_FM.indd 1 18/04/17 12:02
, To my wife and sons—BR
To Lila and Leslie—RMS
To Zoe and Gigi—MEH
To Valerie and Lauren—TSH
Vice President, Business Publishing: Donna Battista Senior Project Editor, Global Edition: Daniel Luiz
Director, Courseware Portfolio Management: Ashley Dodge Assistant Project Editor, Global Edition: Arka Basu
Director of Portfolio Management: Stephanie Wall Manufacturing Controller, Production, Global Edition:
Senior Sponsoring Editor: Neeraj Bhalla Angela Hawksbee
Managing Producer: Vamanan Namboodiri M.S. Operations Specialist: Carol Melville
Editorial Assistant: Linda Albelli Creative Director: Blair Brown
Vice President, Product Marketing: Roxanne McCarley Manager, Learning Tools: Brian Surette
Director of Strategic Marketing: Brad Parkins Content Developer, Learning Tools: Lindsey Sloan
Strategic Marketing Manager: Deborah Strickland Managing Producer, Digital Studio, Arts and Business: Diane
Product Marketer: Becky Brown Lombardo
Field Marketing Manager: Natalie Wagner Digital Studio Producer: Regina DaSilva
Field Marketing Assistant: Kristen Compton Digital Studio Producer: Alana Coles
Product Marketing Assistant: Jessica Quazza Full-Service Project Management and Composition: Thistle
Vice President, Production and Digital Studio, Arts and Hill Publishing Services / Cenveo® Publisher Services
Business: Etain O’Dea Interior Design: Cenveo® Publisher Services
Director of Production, Business: Jeff Holcomb Cover Design: Lumina Datamatics, Inc.
Managing Producer, Business: Ashley Santora Cover Art: Shutterstock
Project Manager, Global Edition: Nitin Shankar Printer/Binder: Vivar, Malaysia
Associate Acquisitions Editor, Global Edition: Ananya Srivastava Cover Printer: Vivar, Malaysia
Microsoft and/or its respective suppliers make no representations about the suitability of the information contained in the documents and
related graphics published as part of the services for any purpose. All such documents and related graphics are provided “as is” without
warranty of any kind. Microsoft and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this informa-
tion, including all warranties and conditions of merchantability, whether express, implied or statutory, fitness for a particular purpose,
title and non-infringement. In no event shall Microsoft and/or its respective suppliers be liable for any special, indirect or consequential
damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tor-
tious action, arising out of or in connection with the use or performance of information available from the services.
The documents and related graphics contained herein could include technical inaccuracies or typographical errors. Changes are periodi-
cally added to the information herein. Microsoft and/or its respective suppliers may make improvements and/or changes in the product(s)
and/or the program(s) described herein at any time. Partial screen shots may be viewed in full within the software version specified.
Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries. This book is not
sponsored or endorsed by or affiliated with the Microsoft Corporation.
Pearson Education Limited
Edinburgh Gate
Harlow
Essex CM20 2JE
England
and Associated Companies throughout the world
Visit us on the World Wide Web at:
www.pearsonglobaleditions.com
© Pearson Education Limited 2018
The rights of Barry Render, Ralph M. Stair, Jr., Michael E. Hanna, and Trevor S. Hale to be identified as the authors of this work have
been asserted by them in accordance with the Copyright, Designs and Patents Act 1988.
Authorized adaptation from the United States edition, entitled Quantitative Analysis for Management, 13th edition, ISBN 978-0-13-
454316-1, by Barry Render, Ralph M. Stair, Jr., Michaele E. Hanna, and Trevor S. Hale, published by Pearson Education © 2018.
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any
means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a
license permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6–10 Kirby
Street, London EC1N 8TS.
All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author
or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or
endorsement of this book by such owners.
ISBN 10: 1-292-21765-0
ISBN 13: 978-1-292-21765-9
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library.
10 9 8 7 6 5 4 3 2 1
14 13 12 11 10
A01_REND7659_13_GE_FM.indd 2 21/04/17 4:35
, About the Authors
Barry Render is Professor Emeritus, the Charles Harwood Distinguished Professor of Operations
Management, Crummer Graduate School of Business, Rollins College, Winter Park, Florida. He
received his B.S. in Mathematics and Physics at Roosevelt University and his M.S. in Operations
Research and his Ph.D. 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 Pearson, 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. More than 100 articles by Dr. Render on a variety of man-
agement 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 was named twice as a Senior
Fulbright Scholar. He was Vice President of the Decision Science Institute Southeast Region
and served as software review editor for Decision Line for six years and as Editor of the New
York Times Operations Management special issues for five years. 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. He is currently
Consulting Editor to Financial Times Press.
Dr. Render has taught operations management courses at Rollins College for 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 B.S. in chemical engi-
neering from Purdue University and an M.B.A. from Tulane University. Under the guidance of Ken
Ramsing and Alan Eliason, he received a Ph.D. 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 taught twice 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 in 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
3
A01_REND7659_13_GE_FM.indd 3 04/04/17 3:34
EDITION
Quantitative Analysis
for Management
THIRTEENTH EDITION
Barry Render • Ralph M. Stair, Jr. • Michael E. Hanna • Trevor S. Hale
18/04/17 5:1
, T H I R T E E N T H E D I T I O N
G L O B A L E D I T I O N
QUANTITATIVE ANALYSIS
for MANAGEMENT
BARRY RENDER
Charles Harwood Professor Emeritus of Management Science
Crummer Graduate School of Business, Rollins College
RALPH M. STAIR, JR.
Professor Emeritus of Information and Management Sciences,
Florida State University
MICHAEL E. HANNA
Professor of Decision Sciences,
University of Houston–Clear Lake
TREVOR S. HALE
Associate Professor of Management Sciences,
University of Houston–Downtown
Harlow, England • London • New York • Boston • San Francisco • Toronto • Sydney • Dubai • Singapore • Hong Kong
Tokyo • Seoul • Taipei • New Delhi • Cape Town • Sao Paulo • Mexico City • Madrid • Amsterdam • Munich • Paris • Milan
A01_REND7659_13_GE_FM.indd 1 18/04/17 12:02
, To my wife and sons—BR
To Lila and Leslie—RMS
To Zoe and Gigi—MEH
To Valerie and Lauren—TSH
Vice President, Business Publishing: Donna Battista Senior Project Editor, Global Edition: Daniel Luiz
Director, Courseware Portfolio Management: Ashley Dodge Assistant Project Editor, Global Edition: Arka Basu
Director of Portfolio Management: Stephanie Wall Manufacturing Controller, Production, Global Edition:
Senior Sponsoring Editor: Neeraj Bhalla Angela Hawksbee
Managing Producer: Vamanan Namboodiri M.S. Operations Specialist: Carol Melville
Editorial Assistant: Linda Albelli Creative Director: Blair Brown
Vice President, Product Marketing: Roxanne McCarley Manager, Learning Tools: Brian Surette
Director of Strategic Marketing: Brad Parkins Content Developer, Learning Tools: Lindsey Sloan
Strategic Marketing Manager: Deborah Strickland Managing Producer, Digital Studio, Arts and Business: Diane
Product Marketer: Becky Brown Lombardo
Field Marketing Manager: Natalie Wagner Digital Studio Producer: Regina DaSilva
Field Marketing Assistant: Kristen Compton Digital Studio Producer: Alana Coles
Product Marketing Assistant: Jessica Quazza Full-Service Project Management and Composition: Thistle
Vice President, Production and Digital Studio, Arts and Hill Publishing Services / Cenveo® Publisher Services
Business: Etain O’Dea Interior Design: Cenveo® Publisher Services
Director of Production, Business: Jeff Holcomb Cover Design: Lumina Datamatics, Inc.
Managing Producer, Business: Ashley Santora Cover Art: Shutterstock
Project Manager, Global Edition: Nitin Shankar Printer/Binder: Vivar, Malaysia
Associate Acquisitions Editor, Global Edition: Ananya Srivastava Cover Printer: Vivar, Malaysia
Microsoft and/or its respective suppliers make no representations about the suitability of the information contained in the documents and
related graphics published as part of the services for any purpose. All such documents and related graphics are provided “as is” without
warranty of any kind. Microsoft and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this informa-
tion, including all warranties and conditions of merchantability, whether express, implied or statutory, fitness for a particular purpose,
title and non-infringement. In no event shall Microsoft and/or its respective suppliers be liable for any special, indirect or consequential
damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tor-
tious action, arising out of or in connection with the use or performance of information available from the services.
The documents and related graphics contained herein could include technical inaccuracies or typographical errors. Changes are periodi-
cally added to the information herein. Microsoft and/or its respective suppliers may make improvements and/or changes in the product(s)
and/or the program(s) described herein at any time. Partial screen shots may be viewed in full within the software version specified.
Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries. This book is not
sponsored or endorsed by or affiliated with the Microsoft Corporation.
Pearson Education Limited
Edinburgh Gate
Harlow
Essex CM20 2JE
England
and Associated Companies throughout the world
Visit us on the World Wide Web at:
www.pearsonglobaleditions.com
© Pearson Education Limited 2018
The rights of Barry Render, Ralph M. Stair, Jr., Michael E. Hanna, and Trevor S. Hale to be identified as the authors of this work have
been asserted by them in accordance with the Copyright, Designs and Patents Act 1988.
Authorized adaptation from the United States edition, entitled Quantitative Analysis for Management, 13th edition, ISBN 978-0-13-
454316-1, by Barry Render, Ralph M. Stair, Jr., Michaele E. Hanna, and Trevor S. Hale, published by Pearson Education © 2018.
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any
means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a
license permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6–10 Kirby
Street, London EC1N 8TS.
All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author
or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or
endorsement of this book by such owners.
ISBN 10: 1-292-21765-0
ISBN 13: 978-1-292-21765-9
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library.
10 9 8 7 6 5 4 3 2 1
14 13 12 11 10
A01_REND7659_13_GE_FM.indd 2 21/04/17 4:35
, About the Authors
Barry Render is Professor Emeritus, the Charles Harwood Distinguished Professor of Operations
Management, Crummer Graduate School of Business, Rollins College, Winter Park, Florida. He
received his B.S. in Mathematics and Physics at Roosevelt University and his M.S. in Operations
Research and his Ph.D. 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 Pearson, 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. More than 100 articles by Dr. Render on a variety of man-
agement 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 was named twice as a Senior
Fulbright Scholar. He was Vice President of the Decision Science Institute Southeast Region
and served as software review editor for Decision Line for six years and as Editor of the New
York Times Operations Management special issues for five years. 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. He is currently
Consulting Editor to Financial Times Press.
Dr. Render has taught operations management courses at Rollins College for 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 B.S. in chemical engi-
neering from Purdue University and an M.B.A. from Tulane University. Under the guidance of Ken
Ramsing and Alan Eliason, he received a Ph.D. 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 taught twice 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 in 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
3
A01_REND7659_13_GE_FM.indd 3 04/04/17 3:34
