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Dec 11, 2024
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MS 393 - Quantitative Management Techniques3 lecture hours 0 lab hours 3 credits
Course Description
This course introduces students to various models and techniques used to assist managers in decision-making, including application of many of the statistical techniques from MA 340 . Topics covered include decision analysis, linear programming, transportation models, facility location techniques, waiting lines, simulation and time-series forecasting techniques. (prereq: MS 340 )
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
• Have awareness that the techniques covered under those topics are available to aid in decision making and forecasting
• Understand when, or to what types of problems the different techniques should be used
• apply all of the techniques, as appropriate, to solve specific problems
Prerequisites by Topic
• MA-340
• MS-340
Course Topics
• Decision analysis Without Probabilities (maximax, maximin, minimax regret, equal likelihood) With Probabilities (expected value, expected value of perfect information) Sequential decision trees
• Linear Programming Formulation Graphical Solutions Computer solutions Transportation problems
• Facility location techniques Location factor rating Center of Gravity Load distance
• Simulation Techniques
• Waiting line models Single server Multiple server
• Review of Statistics Frequency distributions Normal Binomial Exponential Poisson Descriptive statistics Mean Median Variance Standard deviation Expected value Sampling distributions Sample sizes Central limit theory Tabulated areas o the normal distribution
• Ientifying data patterns Random Stationary Trend Seasonal Cyclical
• Regression Analysis (casual forecasting) Linear regression Multiple regression
• Time series data analysis Moving averages Single exponential smoothing Double exponential smoothing Regression of time series data Winters method
Coordinator
Kenneth Mannino
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