QUANTITATIVE METHODS IN MANAGEMENT

Course Code: MBAOM 10101 Credit Units: 03 Course Objective: The aim of this course is to develop the understanding of the various Statistical models and Optimization Techniques used for decisions making in the functions of the management of any organization using contemporary computer-based technology Course Contents: Module I: Introduction Application of Statistics in Business & Management; Classification of Data; Diagrammatic & Graphical Presentation of Data Module II: Summary Statistics Measures of Central Tendency; Measures of Dispersion Module III: Forecasting Techniques Correlation & Regression Analysis, Time Series Analysis Module IV: Probability & Testing of Hypothesis Introduction of Probability Theories, Concepts, Addition & Multiplication Theorems, Probability Distributions, Sampling & Sampling Distribution, Null Hypothesis & Alternative Hypothesis, Z-test, ttest, F-test, Non-parametric Tests ( 2 Test) Module V: Decision Theory Decision Theory: Introduction of Decision Theory, Decision Environments, Decision Making under Uncertainty- Maximax, Maximin, Minimax, Regret & Laplace Criterion, Decision Making under RiskEMV & EOL. Module VI: Linear Programming Introduction of Operations Research, Scope and Models in Operations Research, Introduction of Linear Programming, Formulation of LPP, Solution of LPP- Graphical Method & Simplex Procedure, Duality. Introduction of Transportation Problems, Procedure of finding optimal solution, Assignment Problem & its solution.

Examination Scheme:
Components Weightage (%) Text & References: Text: P-1 10 C-1 10 CT-1 20 EE 60

Levin R.I. & Rubin S.R. 2005, Statistics for Management, 7th Ed. Prentice Hall Of India Taha H. A. 2007, Operations Research: An Introduction, 8th Ed. Prentice Hall of India

References: Gupta S.P.& Gupta M.P. 2006, Business Statistics, 10th Ed. Sultan Chand & Sons Kapoor V.K. 2006, Operations Research, 5th Ed. Sultan Chand & Sons Sharma J.K. 2006, Operations Research: Theory & Application, Mac Millan India Ltd. Gupta S.P., Statistical Techniques, Sultan Chand & Sons

Grobner D.F. & Shannon P.W., Essential of Business Statistics: A Decision Making Approach, MacMillan College Publishing Co.