During the past several decades, the decision-making process and the decision-makers’ role in it have changed dramatically. Because of this, the use of analytical tools, such as Excel, have become an essential component of most organizations. The analytical tools in Excel can provide today’s...

When comparing and evaluating performance, decision-makers are concerned with providing a range of effective, efficient, and fair measures that can yield representative relative rankings for the units being evaluated. In this chapter, we apply three multicriteria benchmarking modeling techniques...

Forecasting is a vital part of the planning process of most private and public organizations. A number of extant measures: Mean Absolute Deviation (MAD), Mean Square Error (MSE) and Mean Absolute Percentage Error (MAPE), have been used to assist in judging the forecast accuracy, and...

Multiple linear regression (MLR) is a commonly used statistical technique to predict future values. In this paper, we examine the situation in which a given time series dataset contains numerous observations of important predictor variables that can effectively be classified into groups based on...