Week Topic and Sub-topics Hours Remark

1 Topic 1: Introduction to Quantitative Analysis 1 Chapter 1

• Introduction
• What is Quantitative Analysis?
• The Quantitative Analysis Approach Topic 2:
Decision Theory:
• The structure of decision 3 Chapter 2
• Types of decision-making environments
• Decision making under uncertainty
- Maximax
- Maximin
- Equally-Likely (Laplace)
- Criterion of Realism (Hurwicz)
- Minimax Regret
2 • Decision making under risk 4 Chapter 2
- Expected monetary value (EMV)
- Expected opportunity loss (EOL) Quiz 1
- Expected value of perfect information (EVPI)
3 • Decision Tree 4 Chapter 2
- Solving multi-stage decision-making problems
- Revised probabilities
- Expected value of sample information (EVSI)

4 Topic 3: Linear Programming

• Requirements of a linear programming problem 2 Chapter 3
• Graphical solution to a linear programming
problem (two variables) 2 Quiz 2
- Solving maximization problems
- Solving minimization problems
- Special cases in LP

5 Topic 3: Linear Programming 4 Chapter 3

• Simplex Method (maximizations only)
- How to set up an initial simplex table
- Simplex solution procedure
- Interpretation of simplex solution
6 Topic 3: Linear Programming 4 Chapter 3
• Simplex Method
- The dual in Linear Programming
- Special cases in Linear Programming Test 1
- Sensitivity analysis - shadow prices
 7 Topic 4: Transportation and Assignment Models 4 Chapter 4
• Transportation Model
- Setting up transportation table
- Developing a starting solution (North-West
Corner Method)
- Finding the optimal solution (Stepping-Stone
Method)
- Finding the optimal solution (Vogel
Approximation Method)
- Unbalanced transportation problem
8 MID-SEMESTER BREAK
9 Topic 4: Transportation and Assignment Models 4 Chapter 4
• Transportation Model
- Degeneracy and alternative optimal solutions
- Maximization transportation problems Quiz 3
10 Topic 5: Inventory Model 4 Chapter 5
• Importance of inventory control
• The inventory decisions
• Economic Quantity (EOQ) model, Re-order Point
(ROP)
• Production run model or Economic Batch
Quantity (EBQ) model
11 Topic 5: Inventory Model 2 Quiz 4
• Quantity Discount Model
Topic 6: Project Scheduling – PERT / CPM
• The framework of PERT / CPM 2 Chapter 5
• Network diagram and critical path method
• Total and free floats
12-13 Topic 6: Project Scheduling – PERT / CPM Chapter 6
• PERT Analysis 4
• Project Crashing 2 Quiz 5
13-14 Topic 7: Simulation 6 Chapter 7
• The simulation process
• Advantages and disadvantages of simulation •
Monte Carlo Simulation
- Simulation model for an inventory policy
- Simulation model for a queuing problem
- Other applications

15 Revision 4 Test 2

FINAL EXAMINATION