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
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
6. PARTIAL DIFFERENTIATION
Partial differentiation: Rules of partial differentiation
7. APPLICATIONS OF PARTIAL DIFFERENTIATION
Estimating marginal utility
Marginal product estimates.
8. MATRICES AND DETERMINANTS-1
Types of matrices
Matrix operations – addition, subtraction, multiplication and division.
9. MATRICES AND DETERMINANTS-2
Calculation of value of determinant
Adjoint of a matrix
Applications of matrices to business problems
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.
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
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
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):