Just three months ago, a major oil distributor faces a cyber-security threat that halted their production and distribution of gasoline, and reduced the supply of gas along the eastern coast. People were lined up to get gas in their cars, some even going to the extent of filling containers that were not meant to hold gasoline.  Some of you may have participated in the frenzy.  Others watched from a distance. In hindsight, the shortage was relatively short lived, and much of it exacerbated by our own actions. (Look up the phrase self-fulfilling prophecy, and you’ll understand what I mean!) A friend of yours, one who lives in a mixed use development near where he works and drives an electric car, thought the behavior of those lining up at the pumps was irrational.  After all, people were burning gas waiting in long lines to get gas.  What additional information would we need to better evaluate this situation?

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Just three months ago, a major oil distributor faces a cyber-security threat that halted their production and distribution of gasoline, and reduced the supply of gas along the eastern coast. People were lined up to get gas in their cars, some even going to the extent of filling containers that were not meant to hold gasoline.  Some of you may have participated in the frenzy.  Others watched from a distance.

In hindsight, the shortage was relatively short lived, and much of it exacerbated by our own actions. (Look up the phrase self-fulfilling prophecy, and you’ll understand what I mean!)

A friend of yours, one who lives in a mixed use development near where he works and drives an electric car, thought the behavior of those lining up at the pumps was irrational.  After all, people were burning gas waiting in long lines to get gas. 

  1. What additional information would we need to better evaluate this situation?
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