C 208 Quantitative Business Methods 2

Course Objectives

In all sectors of the economy, making the best decisions is the major issue. This course is designed to shed a mathematical light on decision-making concepts so as to bring structure into decisions and develop new insights. In this second part we shall deal with decision problems under uncertainty.

Course Content

Decision Analysis
Decision Analysis – utility
Inventory models under uncertainty
PERT/CPM under uncertainty
Queueing Models
Simulation
Markov Processes
Forecasting

Recommeded Text:

DR Anderson, DJ Sweeney & TA Williams. An Introduction to Management Science (10th edition). South-Western College Publishing. 2002.

Adil Hasan Mouhammed. Quantitative Methods for Business and Economics. Sharpe. 1999.

Diana Bedward. Quantitative Methods. Elsevier. 1999.