QUANTITATIVE TECHNIQUES

Document Sample
QUANTITATIVE TECHNIQUES Powered By Docstoc
					                           QUANTITATIVE TECHNIQUES

1. DECISION MAKING AND QUANTITATIVE TECHNIQUES
       Problem solving and decision making
       Quantitative analysis and decision making
       Steps in quantitative analysis
       Methods of cost, revenue, and profit
       Quantitative methods in practice

2. INTRODUCTION TO LINEAR PROGRAMMING
     Business problems and their solution through linear programming: Overview of
      LP; construction of a LP problem and model.
     Solution to a linear programming problem: Graphical method ( including peculiar
      situations); Simplex method (for both unrestricted variable and negative variables,
      included) in case of (a) maximization with less than/ equal to situation, (b)
      minimization with greater than/ equal to case, (c) maximization with mixed type,
      and (d) minimization with mixed type.
     Duality problem: Economic interpretation of duality; derivation of a dual solution
      and vice-versa for a linear programming problem( of all kinds)

3. MANAGERIAL APPLICATIONS OF LINEAR PROGRAMMING
     Marketing problems and their solutions through linear programming
     HR problems and their solutions through L.P.
     Production and inventory issues and their resolution
     Financial allocations and L.P. solutions

4. DIFFERENTIAL CALCULUS
     Differential calculus: Rules of differentiation through formula (Algebraic,
      exponential, and logarithmic)

5. APPLICATIONS OF DIFFERENTIAL CALCULUS TO BUSINESS
PROBLEMS
    Applications in the field of demand analysis, elasticity of demand, supply
     analysis, market equilibrium (calculation of price and equilibrium quantity); cost
     analysis, and revenue analysis (including cases of cost minimization and profit
     maximization)

6. PARTIAL DIFFERENTIATION
     Partial differentiation: Rules of partial differentiation

7. APPLICATIONS OF PARTIAL DIFFERENTIATION
     Estimating marginal utility
     Cross elasticies
     Marginal product estimates.
8. MATRICES AND DETERMINANTS-1
     Definition
     Types of matrices
     Matrix operations – addition, subtraction, multiplication and division.

9. MATRICES AND DETERMINANTS-2
     Calculation of value of determinant
     Adjoint of a matrix
     Row operations
     Inverse operations
     Applications of matrices to business problems
     Input-output analysis

10. MARKOV ANALYSIS
  Principle and its application in business problems, namely:
     Prediction of market shares for future periods and at equilibrium.
     Evaluation of marketing strategies for improvement in market shares &
        evaluation of repair & maintenance policies.
     Prediction of bad loans.

11. PROBABILITY
     Basic probability concepts and probability rules – marginal/simple probability,
      conditional and joint probability.
     Revising prior probability – Bayers’ theorem of posterior probability.
     The concept of probability distributions.
     Application of probability concepts in business/management.

12. PROBABILITY DISTRIBUTIONS
     Random variables
     Discrete random variables
     Binomial probability distribution
     Poisson probability distribution
     Continuous random variables
     Normal probability distribution

13. APPLICATION OF PROBABILITY CONCEPTS IN BUSINESS
     Decision making and probability analysis

14. PROJECT SCHEDULING:PERT/CPM
     Construction of Network diagram
     Types of Floats: Total, Free &Interfering floats
     Crashing for determination of optimum duration of project.
15. REVIEW OF QUANTITATIVE TECHNIQUES
     Mock test


Reference books
      Andersen, Sweeney, and Williams: An Introduction to Management Science
       (South-Western: 2005): Chs.1-6
      N.D.Vohra: Quantitative Techniques in Management (THM: Latest edition):
       Relevant chapters

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:29
posted:11/7/2012
language:English
pages:3