Quantitative Analysis

COURSE DESCRIPTION :
The purpose of the course is to enable the students to use quantitative approaches in practical business decision-making. During the course, the students will learn how a modeling process may help them to structure decision situations, and to improve his/her decision-making skills. It is hoped that the students will be familiar with the basic concepts of Decision Analysis, Project Scheduling, and Linear Programming, and should be able to use a modeling approach to improve decision-making processes.

INSTRUCTIONAL METHODOLOGY :
The course is developed through lectures, discussion and numerical problem solving sessions. Students are expected to participate in class discussion. Will be covered in class :
- Operations research, OR models, usage, scope
- Simple models with Microsoft Excel
- Decision-making under uncertainty or risk
- Sequential decisions under risk: The decision tree approach
- Project Scheduling : PERT/CPM
- Linear Programming: model formulation, spreadsheet solutions
- Linear Programming: sensitivity Analysis
- Linear Programming: special problems, integer programming transportation problems,

TEXTBOOK:
Ragsdale, Cliff T., Managerial Decision Modeling, Thomson/South-Western

EVALUATION :
The final grade will be made up of a Class participation 10%, homework 10%, group project 10%; mid-term exam 30%; final exam 40%