COURSE OUTLINE – DECISION MAKING SCIENCE

Name of Course (Course Code)

Decision Making Science (C0A04)
(Use a separate outline template for each course)

SECTION 1 – GENERAL INFORMATION

1.1 Administrative details

Associated higher Duration Level Course
education awards (for example, one (for example, Coordinator/s
(for example, semester, full year) introductory,
Bachelor, Diploma) intermediate,
advanced level, 1st
year, 2nd year, 3rd
year)

2 Year PGDM Term I and Term II Core 1. Dr. Kalyan

Sengupta
2. Dr. Ellur
Anand
3. Ms. Jamuna
Vignesh (SL)

1.2 Core or elective course

Indicate if the Course is a
☒ Core Course
☐ Elective Course
☐ Other (please specify below):

1.3 Course weighting

Using the table below, indicate the credit point weighting of this Course and the credit point total for the
course of study (for example, 03 credit points for the Course and 109 credit points for the program of study).
Course credit points Total course credit points of the program
03 credit points 109 credit points

1.4 Student workload

Using the table below, indicate the expected student workload per week for this Course.
No. of timetabled hours per No. personal study hours Total workload hours per
week* per week** (including Group week***
Work)
225 minutes 450 minutes 675 minutes

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* Total time spent per week at lectures, tutorials, practicum and other engagements etc.
** Total time students are expected to spend per week in studying, completing assignments, etc.
***That is, * + ** = workload hours.

1.5 Delivery mode

Tick all applicable delivery modes for the Course:
☒ Face to face on site
☒ E-learning (online)
☐ Intensive (provide details)

☐ Block release (provide details)

☐ Work-integrated learning activity

☐ Mixed/blended
☐ Distance/independent learning
☐ Full-time
☐ Part-time
☐ External
☐ Fast track (provide details)

☐ Other (please specify)

1.6 Pre-requisites and co-requisites

Are students required have undertaken a prerequisite or co-requisite Course for this Course?
☒ Yes
☐ No
If YES, provide details of the prerequisite or co-requisite requirements below.
QTM (in Foundation)

1.7 Other resource requirements

Do students require access to specialist facilities and/or equipment for this Course (for example, special
computer access, and physical education equipment)?
☒ Yes
☐ No
If YES, provide details of specialist facilities and/or equipment below.
Statistical software such as MS Excel or SPSS

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1.8 Career Track
Decision making is omnipotent in the sense that it is part of every field, every industry including as significant
as medical field. Most of the managerial decisions taken need scientific results as proof in order to back the
decision. Big data analytics is the new domain where statistics plays very important role as foundation course.

Decision sciences as a course provides knowledge of various statistical tools that will be useful for decision
making. This course helps students to read, visualize, analyze and finally take decisions.

After completing this course students will be able to

1. Learn the basics of sampling, visualization and hypothesis testing.
2. analyze and perform statistical tests using software packages like MS Excel, SPSS.
3. Formulate a business problem into a Linear Programming Model.
4. Use solver to obtain an optimal solution to formulated LPP model.

Different kinds of career role in which the Decision Making Science concepts can be applied are: Data
Scientist / Junior Data Scientist

1.9 Alignment with Learning Goals and Learning Objectives

Aligned to GLG 5: Problem Solving LO 5.1, 5.2, 5.3

1.10 Assessment
Quizzes / Tests
Mid Term Exam
End Term Exam

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 SECTION 2 – ACADEMIC DETAILS

Learning Outcomes for Course Assessment Tasks

Type * When assessed – Weighting
(see examples year, session and (% of total marks
noted below this week for Course)
table) (for example,
year 1, semester
1, week 1)

Quiz 5th week into the 30%

Review basic descriptive statistics taught in term
Foundation; Review of Normal distribution and
its applications
Current Trends in 10%
Learn different tools for data visualization and Business and
how to make decisions using statistical Economics Quiz
methods and data visualization Mid Term Exams Mid-Course 20%

Learn different types of sampling and their

applications; methods of sampling; creating
random samples in Excel End Term Exam End of Course 40%

Learn simple modelling and predictive

analytics in Excel using simple linear regression
Total 100%
and multiple regression

Understand the concept of hypothesis testing

and decision making through different types of
non-parametric tests and their applications

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2.1 Session Wise Details
Session Topic Pedagogy Pre-session Readings
Each Module has a structure that will be followed right through the course. For all sessions, it is mandatory
to come prepared to class after going through the relevant topic. Pre-reads and cases specified for the
relevant sessions should be read before each class.
For all sessions, it is mandatory to bring a fully-charged laptop with Excel and SPSS installed.

Module 1: Introduction to Data Driven Decision Making

Learning Objectives
Concept of information and information systems
Forming Decisions from Data
Using Excel to solve optimization problems and what-if analysis

1  Introduction and Classroom

Motivation Discussion
 Cases and
appilcations
 Review of Normal

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Session Topic Pedagogy Pre-session Readings
Distribution
 Applications of
Normal Distribution

Module 2: Review of Probability Distribution; Sampling Methods

Learning Objectives
 Review of Normal Distribution
 Applications of Norman Distribution
 Sampling methods
 Sampling Theory
 Standard Error of Mean
 Central Limit Theorem

2  Empirical Rules Discussion Texts:

 Standard normal and problem
distribution and data solving; Applied Business Statistics, Ken Black, 7th
normalization edition Chapter 4 & 7 (portion on probability
Normal distribution and normal distribution only)
distribution
using Excel OR

Corresponding chapters from any other text

Classroom Activities:

Predicting Demand for Microwave Ovens

(Albright and Winston P. 182)

Personnel Testing at Ztel (Albright and

Winston P. 178)

Group Activity:

Collection of data from websites like Kaggle,

NSE etc.

Analyzing an investor’s after-tax profit

(Albright and Winston P. 181)
3-5  Sampling Concept Types of sampling
Terminology discussion Methods of random sample
 Sampling Methods and Sampling distribution of sample mean
 Sampling Error and applications.
non-sampling error
 Standard Error of Exercises in Chapter 7 Business Statistics:
Mean Excel or SPSS Contemporary Decision Making – Ken
 Central Limit Black
Theorem
OR

Chapter 7 Statistics for Business and

Economics – Anderson, Sweeney

OR

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Session Topic Pedagogy Pre-session Readings
Corresponding chapters from any other text
Classroom Activities:

Sampling Families to analyse annual returns

(Albright and Winston P. 305)

Sampling Accounts Receivable at Spring Mills

(Albright and Winston P. 307)

Group Activities:

Stratified sampling from credit card holders

(Albright and Winston P. 312)

Estimating the mean of Accounts Receivable

(Albright and Winston P. 320)
Module 2: Decision making through data visualization and data interpretation

Learning Objectives:
 Confidence Interval:
 For Mean
 For Proportion
 Data interpretation for decision making through hypothesis testing – Single sample tests,
Two sample tests and multiple samples tests.
 Regression – Simple linear regression and multiple regression
6-8  Confidence Interval Concept Concept of a Confidence Interval
estimation discussion Confidence interval for mean and proportion
 For Mean and
 For Proportion applications. Chapter 8 Business Statistics:
Contemporary Decision Making – Ken
Black

Chapter 8 Statistics for Business and

Economics – Anderson, Sweeney
OR
Corresponding chapters from any other text
Classroom Activities:

Customer Response to a new sandwich

(Albright and Winston P. 343)

Estimating the Response to a new

sandwich (Albright and Winston P. 352)
9-11 Hypothesis Testing Concept Chapter 9 Business Statistics:
discussion Contemporary Decision Making – Ken
 Introduction to and problem Black
hypothesis solving
testing approach Chapter 9: Statistics for Business and
 Hypothesis through Economics – Anderson, Sweeney (Page
testing about applications. No. 382 – 439)
single OR
population. Corresponding chapters from any other text
(Population Std
dev known) Class Activity:
 Hypothesis
testing about Case: Quality Associates, Inc.

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Session Topic Pedagogy Pre-session Readings
single Page 430 of Anderson, Sweeney Text
population.
(Population Std
dev unknown)
13-15 Hypothesis Testing Concept Chapter 11 and 12 Business Statistics:
discussion Contemporary Decision Making – Ken
 Chi-square tests and problem Black
o Test of solving
Independenc approach Chapter 11 and 12: Statistics for Business
e through and Economics – Anderson, Sweeney
o Goodness- applications. (Page No. 545)
of-fit test OR
 ANOVA Corresponding chapters from any other text
o One way Group Activity:

Relationship between demands of laptops

and desktops at Big Office. (using Excel)
16-18 Regression Concept Sales promotion problem through
 Simple linear discussion regression (Albright Winston)
regression and problem
 Concept of residual solving Overhead costs through multiple
and coefficient of approach regression(Albright Winston)
determination through
 Assumptions of applications
regression
 Multiple regression

Module 3: Formulation of Linear Programming Problems and Integer Linear Programming

Models

Learning Objectives
a) To make students explore how unstructured business problems can be structured
decision problems.
b) To develop linear programming models
c) To develop Integer linear programming models

Session Topic Pedagogy Pre-class Readings

19 – 20 Formulation of Linear Concept Introduction to Operations Research;

Programming Problems in discussion Hillier and Lieberman; Chapter:
different industries and and Introduction to Linear Programming.
scenarios applications. Operations Research – An Introduction;
Hamdy A Taha, Pearson, Prentice Hall;
Solving optimization Exercises in Chapter: Modeling with Linear
problems using Excel Excel Programming
SOLVER.
SOLVER

21-22 Integer programming Concept Introduction to Operations Research;

discussion Hillier and Lieberman; Chapter: Integer
Formulation of Integer Linear and Programming.
Programming Problems in applications.
different industries and Operations Research – An Introduction;
scenarios Exercises in Hamdy A Taha, Pearson, Prentice Hall;
Excel. Chapter: Integer Linear Programming

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 Session Topic Pedagogy Pre-session Readings
Module 4: Introduction to Game Theory

Learning Objectives
a) Game theory Situations
23-24 Game theory fundamentals Concept Introduction to Operations Research;
and formulating Game theory discussion Hillier and Lieberman; Chapter: Game
problem into linear and Theory.
programming problem applications.
Operations Research – An Introduction;
Exercises in Hamdy A Taha, Pearson, Prentice Hall;
Excel. Chapter: Decision Analysis and Games

2.2 Prescribed and recommended readings

Provide below, in formal reference format, a list of the prescribed and recommended readings for the Course.

Core Text

Business Analytics: The Science of Data - Driven Decision Making, Dinesh Kumar, Wiley,
2017
Business Analytics: Data Analysis and Decision Making, Albright and Winston, Cengage, 5 th
Edition.
Management Science, Hillier and Hillier

Reference Text
Business Statistics, Levin and Rubin
Applied Business Statistics, 7th edition, Ken Black
Introduction to Operations Research, Hillier and Lieberman, McGrawHill Publications
Operations Research – An Introduction; Hamdy A Taha; Pearson, Prentice Hall