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QMBD-MB19
MBA 19-21: Term-VI
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QUANTITATIVE METHODS FOR BUSINESS DECISIONS
Credits Three (3)
Faculty Manaw Modi
Program Elective from OPS/DS area
Term MBA 6
Course Description:
Business decisions rely on quantitative methods to model a given scenario, evaluate the models, select potential alternatives and help predict what options will have the greatest chance of success. Whether making purchasing, marketing or financing decisions, it is essential to obtain a quantitative foundation to assist in the decision-making process. Objectives of the course are to provide a formal quantitative approach to problem solving, to give an insight for managerial situations where a quantitative approach is appropriate and conceptual understanding of the role that quantitative methods play in the decision-making process. In addition, this course also introduces some widely used Quantitative Models used for Business Decisions.
This particular course is very interactive and hands-on. With real-world situations, and application of techniques as they are being applied in the actual scenarios, it aims to provide an exposure to what a student will be observing and actually performing in the organizations they are going to be associated with.
Learning Objectives
: After completing this course, students should be able to:
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Communicate the model, alternatives, and choices effectively
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Learn and be able to apply popular quantitative tools and techniques used in decision making
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Know quantitative models and their relevance in business situations
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Apply suitable heuristic approaches in day to day operations
Tentative Session Plan:
MODULE
THEME / TOOL
SESSIONS
DETERMINISTIC
UNSTRUCTURED PROBLEMS
FRAMEWORKS
2
UTILITY THEORY
ANALYSIS
1
MCDM
AHP ANALYSIS
2
LINEAR OPTIMIZATION
SOLVER
2
DYNAMIC PRICING
SOLVER
1
DEA
BANXIA
2
GAME THEORY
NASH, COURNOT
2
STOICHASTIC
MARKOV'S CHAIN
MODELING
2
BAYE'S MODEL FOR BUSINESS
ANALYSIS
1
QUEUEING THEORY
EXTENDSIM
2
FORECASTING
MODELING
1
RISK ANALYSIS
@RISK
2
TOTAL
20
Evaluation Methodology
a) Attendance & Participation 10 %
b) Assignments 30 %
c) Mid-term 25 %
d) Final exam (Individual) 35 %
TOTAL 100 %
Criteria of Evaluation – Estimated Range:
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Completeness of work 10 - 20 %
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Conciseness 10 - 20 %
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Analysis and Tools 15 - 25 %
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Alternatives 10 - 20 %
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Communication 20 - 30 %
Grading System, Academic Integrity, Special Needs
1. The course will follow the XU/XIMB Manual of Policies.
2. For any special condition, need or situation, let the instructor know in a very clear and precise way so the instructor with Academics Dean’s office can help in the best possible manner.
Reference, Bibliography:
1. Text:
Quantitative Methods for Business | 12th Edition, David R. Anderson/Dennis J. Sweeney/Thomas A. Williams/Jeffrey D. Camm/James J. Cochran/Michael J. Fry/Jeffrey W. Ohlmann
2. Business Statistics for Contemporary Decision Making by Ken Black, Wiley India
3. Basic Econometrics by Damodar N. Gujarati, Mc Graw Hills
4. Multivariate Data Analysis, by Joseph F. Hair, Jr; William C. Black, Barry J. Babin and Rolph E. Anderson, Prentice Hall
5. Quantitative Methods for Business by Anderson, Sweeney, Williams, Camm & Martin, CENGAGE Learning
6. Data Analysis, Optimization, and Simulation Modeling by Albright, Zappe and Winston, CENGAGE Learning
7. Quantitative Methods for Decision Making using Excel by Davis and Pecar, Oxford University Press.
Created By:
Alora Kar
on
11/26/2020
at
03:20 PM
Category
:
BM 19-21 T-VI
Doctype
:
Document
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