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MS (QT) Course Outline For MBA WU

This document outlines a course on Quantitative Analysis for Management Decision Making. The course will introduce students to various quantitative models used to aid managerial decision-making, including linear programming, transportation and assignment models, game theory, inventory models, queuing theory, and simulation. Students will learn how to apply these mathematical tools to evaluate alternatives and solve business problems. Key topics covered include linear programming, transportation models, assignment problems, decision theory, inventory models, queuing theory, and simulation methods. Assessment will consist of individual and group assignments, midterm and final exams.

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62 views3 pages

MS (QT) Course Outline For MBA WU

This document outlines a course on Quantitative Analysis for Management Decision Making. The course will introduce students to various quantitative models used to aid managerial decision-making, including linear programming, transportation and assignment models, game theory, inventory models, queuing theory, and simulation. Students will learn how to apply these mathematical tools to evaluate alternatives and solve business problems. Key topics covered include linear programming, transportation models, assignment problems, decision theory, inventory models, queuing theory, and simulation methods. Assessment will consist of individual and group assignments, midterm and final exams.

Uploaded by

Tamiru Beyene
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Wallaga University

College of Business and Economics

Department of Management

Program: MBA, Academic Year: 2021, Semester: I

Course Outline: Quantitative Analysis for Management Decision Making (MBA513)

Credit Hour: 3hours

Course Description

In this course students will get exposure to and practice in the use of mathematical tools for
aiding managerial decision-making in companies. The course contains a number of quantitative
models proven effective in solving classes of managerial problems. The main hub of the course
is model and modeling that will help to improve the decision making process of managers in
companies but not absolutely be used alone. These models that are going to be discussed in this
course are: decision making theory, Linear programming model, transportation and assignment
models, Game theory, Network models, Queuing models, Simulation models.

Course Objectives

The objectives of this course are to aid decision-maker a method of evaluating every possible
alternative by using various techniques to know the potential outcomes, understand the different
models of Quantitative Analysis and appreciate the application of Quantitative model in solving
different business and non-business problems.

Specifically, on successful completion of this module, students will be able to:

 Understand the fundamental concepts and general mathematical structure of linear


programming model Understand Linear Programming Model and its application decision
making.
 Describe Some Advanced Topics in LPP Describe the transportation and Assignment
Problem and its application decision making.
 Explain the Network Models and its application in project management.

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 Describe the game theory and its application in decision making.
 Know the inventory model and its application in determining the optimum level of
inventory.
 Explain the basic concepts Queuing Theory Model and its applications in effectively
serving Clients
 Identify and examine situation that generate queuing problems.
 Describe the trade-off between cost of service and cost of waiting time.
 Make distinction between Analytical and Simulation Models
 Apply Monte Carlo Simulation for solving various types of problems

Topics and Sub Topics

Unit-One: Linear Programming/LPP

1.1. Formulation of LPP 1.3. Simplex method

1.2. Graphical method for two variables 1.4. Big ‘m’ method
Solution- BFS.
1.5. Some special cases in solving LPP
1.2.1. Optimal, degenerate, non using Simplex Method.
degenerate solutions

Unit-Two: Transportation Model


2.1. Formulation 2.3.3. Vogel’s approximation method
2.2. Method of finding BFS 2.4 Towards optimality MODI method
2.3. Method of finding BFS 2.5. Loops
2.3.1. North-West corner method
2.6. Unbalanced TPP
2.3.2 Matrix minima method
2.7. Maximization TPP
Unit-Three: Assignment Model
3.1 Formulation 3.3 Unbalanced AP
3.2 Hungarian algorithm 3.4 Travelling sales man problem
Unit-Four: Decision Theory (Game theory)
4. 1 Game-Pure strategy –mixed strategy – pay –off
4.2. Saddle point –two people zero sum game

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.3. Mini max principle
4.4. Solving two person zero sum game without saddle point
4.4.1. Graphical method

Unit-Five: Inventory Models


5.1 Purchasing model without shortage 5.3 Manufacturing model without shortage
5.2 Purchasing model with shortage 5.4 Manufacturing model with shortage
Unit-Six: Queuing Theory Model
6.1 M/M/I: FIF0/ ∞ model 6.3 M/M/S: FIF0/∞ model
6.2 M/M/I: fIF0/ N model 6.4 M/M/S: FIF0/N, S< N Model
Unit-Seven: Simulation
7.1 Merits and demerits of Simulation 7.3 Pseudo random numbers
7.2 Random numbers 7.4 Application of simulation Monto Carlo
method
Delivery method: lecture, group discussion, and case studies
Mode of Continuous Assessment
Individual Assignment (20%), Group Assignment (20%), mid-Exam (20%), Final Exam (40%)
References:
 Introduction to operations research.Frederick s. Hiller gerald j. Lieberman Kagsadale,
managerial decision modeling, revised edition, 2008, south west publishers.
 linear programming problem. g. g.hardy addison- wesley operations research. richard
schums outene series mcgraw-
 hill operations research. o. kanti swarup. mammohan. p.k gupta
 Kothari C. R., Quantitative Techniques, 3rd revised edition, (2005), New Delhi: Vikas
Publishing House Ltd.
 Sharam, J. K., (2004), Business Statistics, Delhi: Baba Barkha Nath printers
 Agrwal, D. R., (2008), Business Statistics. Delhi: Vrinda Publications Ltd.
 Bowerman, O’Connel and Hand, Business Statistics in Practice, 2nd edition, Boston:
McGraw-Hill Irwin.
 Render, Barry and Stair, Ralph M., Quantitative Analysis for Management, 3rd edition,
Toronto: Allyn and Bacon Inc.

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