CP 102: Quantitative Techniques for Decision Making

Module I: Introduction: Application in Business & Management, Classification of Data,

Diagrammatic & Graphical Presentation of Data

Module II: Forecasting Techniques: Correlation & Regression Analysis, Time Series
Analysis- Trend Analysis, Cyclical Analysis, Seasonal Analysis, Irregular Variation

Module III: Probability & Testing of Hypothesis: Introduction of Probability Theories,

Concepts, Addition & Multiplication Theorems, Probability Distributions, Sampling &
Sampling Distribution, Null Hypothesis & Alternative Hypothesis, t-test, F-test, Annova,
Non-parametric Tests

Module IV: Decision Theory: Introduction of Decision Theory, Decision Environments,

Decision Making under Uncertainty- Maximax, Maximin, Minimax, Regret & Laplace
Criterion, Decision Making under Risk- EMV & EOL, Decision Tree Analysis

Module V: 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 & Dual Simplex
Procedure. Introduction of Transportation Problems, Procedure of finding optimal
solution, Assignment Problem & its solution.

Module VI: Advanced Operations Research Models: Simulation, Queuing theory, Integer
programming, Goal programming.
Suggested readings: