Category: Never say Never. An expression often spoken by optimists, to diffuse the pessimism espoused by those of us with a more cynical (or, “analytical” as I like to think about it) nature. The irony, of course, is that by using that phrase you say ‘never’ twice. Regardless, I’m going to bend the common meaning of the phrase, to make it feel optimistic:
There will NEVER be another exam as hard as the Decision Models exam we just took.
I realize this is a funny and rather bold statement in light of my comments about last semester’s Accouting exam. In retrospect, that exam was difficult, but only due to the sheer volume of material and the generally complex, and often perverse, “logic” of Accounting. But for that exam, at least there were examples that we could refer to from the notes and the textbook. I may not have understood why you write the journal entry for operating leases the way you do, but I was confident that I could at least mimic an answer based on a previous class example.
Decision models afforded no such luxury. Knowing how to use Crystal Ball, Solver, or TreePlan was a necessary, but not sufficient condition to doing well on this exam. Heck, I’d even go as far as saying that besides getting practice on the types of problems you needed to solve, none of the homework or case studies really gave too much insight on how to solve this set of questions.
Never, in all my years of schooling, have I had an exam that’s only purpose was to grade you on your raw analytical horsepower and mental stamina! When I first opened the exam, I chuckled as I glanced at the questions. If any of you have seen Back to School, I felt like Rodney Dangerfield taking the Econ exam:
Econ professor: This exam has only one question…in 27 parts.
Rodney Dangerfield (after finishing): I feel like I just gave birth…to an Accountant!
To be sure, this exam was everything that Professor Peng said it would be. There were three questions, 5-10 parts each, one for each major section of the class: Decision Trees, Monte Carlo simulation, and Linear Programming/Optimization. I spent approximately two evenings per question, several hours per section, and I feel that I did a ‘better than P’ level of answering the questions. At this point, there’s nothing I can do but wait to get my final grade.
That being said, I wouldn’t have it any other way! I didn’t come to this program just to get a piece of paper, other than to prove to myself and others that I can handle this level of quantitative analysis. If I’ve learned anything from this class, it’s the following:
- The (business) world is way more complicated than I could’ve even imagined (and that’s coming from energy forcasting and financial services background!).
- Someone needs to be able to know how to solve these types of problems…it might as well be me!
- Even if #2 applies, it’s better to be surrounded by other people that know how to do this stuff.
- If the computer crashes from a problem you are trying to solve, you’re either doing it wrong or it’s not worth solving!
So to wrap up, Professor Peng, thank you for not taking it easy on the class! I’ve got an even more profound respect for the quantitative methods the separate the wheat from the chaff in the business world. After taking this class, and especially this exam, the problems that I need to solve at work seem almost pedestrian in nature. I may still only get a ‘P’ in this class, but I can say I’ve really learned something.
Well difficult is putting it mildly. I agree that this exam was the hardest I have ever taken (and the longest). My major frustration was more with the class structure than the actual exam. I enjoyed being pushed mentally and having the ah ha of figuring some things out, but I felt ill prepared for this. I would definitely put part of that blame on myself and allowing the distractions of the holidays, a new baby, a promotion proposal, and work in general to get in the way of me really focusing, BUT I also felt like the class was poorly structured. So much of my time was spent on trying to figuring out how work the software, I wasn’t able to really learn the principles of decision making. I think the one major fix for that would be to allow computers in the class during residency. 1. it would keep most people awake (even if they are surfing the internet) and therefore absorbing more information than anyone can unconscious. 2. It would help you follow him as he is teaching the software rather than having to say “I think I get that” or Professor Sun saying “When you are working on this after class just follow the notes they explain everything.”…. um no they don’t.
Anyway there is my rant. I was interested in the class before we started, very disappointed in the class structure during, but encouraged by the testing and I enjoyed being pushed in the exam. Although don’t equate enjoyed getting pushed with any semblance of a good score cause I’m sure I bombed it…. I’ve never wanted a P so bad in all my life. :)
I agree with you on the working through the problems with the lecture. Before I got to Dubai, I had already had previous experience with Crystal Ball, through a situation like you describe. My previous employer sent me to a 2-day workshop, where you went through the software. Getting those results along with the lecture really does give you a sense of accomplishment and solidifies the learning.
Your point about people surfing the internet is an interesting one. What does it say about the honor code if we can’t trust the students to not be screwing around in class? Heck, at $8k a month tuition, if you’re chronically not paying attention in class then you’ve got bigger issues!
The DM exam was the most punishing and mentally exhausting test that i have ever taken. I incorrectly assumed that mental horsepower and a few hours of reviewing each of the tool would be enough for my month or so of distraction due to new job and location.
ahem, well that was flat out wrong. The layers of panic began to set in, on Wednesday i was just confused, by Thursday afternoon this confusion had transformed into shock/panic leading me take Friday off work. Coffee shakes set in on friday night and by Sunday morning, i felt like Landon Donovan probably did after missing the pk in the finals (mentally and physically exhausted).
Despite the tough final and lack of class room computer time this class is immidiately relevant for me at work. I will now be building decision trees and attempting to look through a crystal ball at work as much as i can.
I just want to add that my despair increased ten fold when I saw the answer sheets that Professor Sun released. My only encouragement is that everyone seems to have been as far off as I was or at least say they were, so hopefully a 30% on the test will be the mean :) ?
Yeah, I just looked at the answers. I’d say the answers “look familiar”, but I wouldn’t say I was anywhere near competence on the problems.
Great post. I couldn’t agree more. About preparing for the exam though, now that the final is over, perhaps I could post this without getting into trouble: working on and understanding the sample exam provided by the Prof would help a great deal.
Regarding the keeping people awake during residency part, I don’t think computer in class would help much, since people were partying their brains out every night anyway.
I’ve always thought that American education system is much like this course itself: come prepared and you’ll learn; come empty handed and you’ll suffer. Unlike Chinese education system, where teachers guide you through everything. After all it came down to what Randy already said, obviously people gain more when they approach courses and the whole program with a proper mindset.
Personally I feel lost during the residency period as well, but I enjoyed the distance portion, the interesting cases and everything else. My complain about the course structure is that there was little meaningful deliverable due during the residency portion, thus people didn’t learn as much as they could have. The same goes for the Econ class as well.
Hey Yihang –
That’s interesting that you found the sample final helped out a great deal. When I solved a few of the questions, I found it to be a lot like the actual final exam…some of the parts I got, and some I didn’t. Maybe the effort I put into the sample questions helped me out more than I thought.
As far as the partying goes, I see it both ways. If there were more meaningful deliverables, then maybe people wouldn’t party as much. But then again, maybe not. I can only speak for myself, but when I do my 2010 resolutions list for this program, partying less is going to be one of my top resolutions!
Randy,
I think you have made great points about the course. But I would like to say that the the course itself is more based on common sense and tricks than about anything else. I did not get the best out of this since I did not put in the efforts needed due to the flight tests and many 24 hour shifts I had to go through at work. But I really enjoyed the course and feel that this is a great method. Peng also put in efforts to make it interesting and challenging. Just my 2 cents.