MGMT 6000 GRADUATE INTRODUCTION TO QUANTITATIVE METHODS IN BUSINESS
Dr. Z. Radovilsky, Winter 2000
C O U R S E O U T L I N E
1. GENERAL CONCEPTS OF QUANTITATIVE BUSINESS METHODS
Quantitative methods in business: main principles and criteria. Quantitative business methods under certainty, partial and complete uncertainty. Models and modeling. Computer in quantitative business methods. Chapter 1.
2. LINEAR PROGRAMMING
Business applications that require linear programming. Main principles of linear programming. Formulation of linear programming models. Solving linear programming models on computer. Chapters 7 and 8.
Graphical solution of linear programming models. The isoprofit line solution corner point solution methods in solving linear programming models graphically. Slack and surplus. Special cases of graphical linear programming. Computer solution of graphical linear programming models. Chapter 7.
The simplex method: principles, approach, and simplex tableaus. Identify the initial feasible solution. Using the simplex method to solving linear programming maximization models with less-than-or-equal-to constraints. Applying the simplex method to solve a maximization linear programming model with mixed constraints and minimization model. Using the simplex method on computer. Chapter 9.
Sensitivity analysis of linear programming models: definition and general approach. Analyzing linear programming solutions using shadow prices, reduced costs, and ranges of the right-hand side values. Analyzing linear programming models using computer solutions. Chapter 9.
Decision making utilizing integer programming. Main assumptions and types. Applications of integer programming: pure, mixed, and zero-one integer models. Solving and analyzing integer models on computer. Chapter 11.
3. TRANSPORTATION AND ASSIGNMENT MODELS
Applications of the transportation model. Identifying the initial feasible solution. Using the stepping stone method and MODI methods to identify the optimal solution. Computer solution of the transportation model. Special cases of the transportation model. Chapter 10.
Assignment model: principles and applications. The Hungarian method of solving the assignment model. Solving the and analyzing the assignment model on computer. Chapter 10.
4. DECISION THEORY
Main concepts and elements of decision theory and decision tree analysis. Decision analysis under uncertainty utilizing different criteria. Decision analysis applying expected values and opportunity losses. Structuring decisions using decision trees. Identifying the best decisions with expected values. Using computer to construct and solve decision trees. Chapters 3 and 4.
5. INVENTORY MODELS
Objectives of inventory modeling. Inventory costs. Deterministic inventory models: economic order quantity, noninstantaneous receipt model, and quantity discount model. Identifying the optimal order (production) quantity and costs. Developing and analyzing inventory models on computer. Chapter 6.
6. PROJECT MANAGEMENT
Principles and objectives of project management. The program evaluation and review technique and critical path method. Precedence diagram. Identifying the critical path. Analyzing the project management models on computer. Project activity crashing. Chapter 13.
COURSE OBJECTIVES
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introducing to students main concepts and approaches in formulating and solving business and management problems utilizing quantitative business methods |
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developing student skills of formulating and solving quantitative models in business and management and also analyzing them on computer. |
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presenting
and discussing real-world examples and case studies to illustrate the effectiveness of the
specific quantitative methods and models. |
TEXT
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Render, Barry and Ralph M. Stair. Quantitative Analysis for Management, Sixth Edition, Prentice Hall, 2000. |
SOFTWARE
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QM for Windows, ver. 2.0 or 1.5 (should be supplied with the textbook). |
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MS Excel, Office 97 or 2000 |
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Ms Word, Office 97 or 2000 |
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Treeplan (an Excel add-in, should be supplied with the textbook). |
SCHEDULE
| Date | Topic | Chapter | Assignment |
| Wednesday, February 9 | Introduction to Quantitative
Analysis Linear Programming: Formulation Graphical Solution of Linear Programming Simplex Method and Sensitivity Analysis |
1 8 7 9 |
Case Study on Linear Programming, Due on February 10 |
| Thursday, February 10 | Integer Programming Transportation Model Assignment Model |
11 10 10 |
Case Study on Transportation Model, Due on February 11 Quiz #1 |
| Friday, February 11 | Fundamentals of Decision Theory Decision Tree Analysis |
3 4 |
Case Study on Decision Analysis, Due on February 12 |
| Saturday, February 12 | Inventory Management and Inventory Control Models | 6 | Case Study on Inventory Management, Due on February 13 Quiz#2 |
| Sunday, February 13 | Project Management | 13 | Case Study on Project Management, Due on February 13 |
| Saturday, February 19 | Final Exam |
COURSE REQUIREMENTS AND CASE STUDY ASSIGNMENTS
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Each student is expected to read the required chapters before the class meeting and to be ready to discuss them during the class sessions. |
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The students are required to bring laptops (notebooks) to all class sessions. They need to have QM for Windows, Treeplan, MS Word and MS Excel installed on these laptops. Also, need to have a diskette to save computer work. |
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The case studies will be assigned and partially or completely done during the class sessions. The group discussion of the case studies is welcomed. If required, the students will finish the case studies at home, and present the following day. |
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The submission of the case studies is individual. |
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A case study report submitted for grading should be typed with about three-four double-spaced pages plus (if applied) appendices, computer printouts, charts, and graphs. |
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When submitting case study reports, please underline or highlight the important parts of your solutions. |
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No late homework will be accepted. |
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The above assignments and/or due dates are sometime subject to change. Any change will be announced in class. |
GENERAL INFORMATION
| Telephone in USA | (510) 885-3302 |
| Fax in USA | (510) 885-2165 (Dept. of Management and Finance) |
| zradovil@csuhayward.edu | |
| Web page | www.sbe.csuhayward.edu/~zradovil |
| Prentice Hall web page with the textbook information | cw.prenhall.com/bookbind/public_html/pubbooks/render |
GRADING SYSTEM
The final grade in the course will be based on the maximum of 500 points with the following breakdown:
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Five case studies handed in, 50 points maximum each for a total of 250 points maximum. |
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Two quizzes, 50 points maximum each for a total of 100 points. |
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Final exam, 150 points maximum. |
The final grades will be as following:
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"A"--450 points and up |
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"A-"--435-449 points |
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"B+"--420-434 points |
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"B"--400-419 points |
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"B-"--385-399 points |
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"C+"--370-384 points |
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"C"--350-369 points |
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"C-"--335-349 points |
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"D+"--320-334 points |
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"D"--300-319 points. |