Quantitative Method For Business Decisions

1. Apply quantitative techniques to solve business problems.
2. Formulate and solve decision problems in quantitative terms.
3. Analyze business forecasts based on past data.
4. Compute real monetary values for investment projects.
5. Explain profitable inventory decisions.
6. Plan network activities for productive business operations.

13 weeks, about 60 hours in total. Yours will differ.

1. Week 1Module 1:

   • Unit 1: Uses, Importance, and Tools of Quantitative Techniques in Decision Making · 4 hours

     Read Unit 1: Uses, Importance, and Tools of Quantitative Techniques in Decision Making.. Define quantitative techniques and their importance.. Identify the tools of quantitative analysis: mathematical and statistical tools..

2. Week 2Module 1:

   • Unit 2: Mathematical Tools I: Equation and Inequalities · 4 hours

     Study Unit 2: Mathematical Tools I: Equations and Inequalities.. Solve linear equations using algebraic operations.. Apply linear equations to solve business problems..

3. Week 3Module 1:

   • Unit 3: Mathematical Tools I (Continued): Simultaneous Equations, Linear Functions, and Linear Inequalities · 4 hours

     Study Unit 3: Mathematical Tools I: Simultaneous Equations, Linear Functions, and Linear Inequalities.. Solve simultaneous equations using the addition-subtraction method.. Apply linear functions and inequalities to analyze business conditions..

4. Week 4Module 1:

   • Unit 4: Mathematical Tools II: Introduction to Matrix Algebra · 4 hours

     Study Unit 4: Mathematical Tools II: Introduction to Matrix Algebra.. Perform matrix addition and scalar multiplication.. Apply matrix multiplication to solve business problems..

5. Week 5Module 1:

   • Unit 5: Mathematical Tools III: Applied Differential Calculus · 4 hours

     Study Unit 5: Mathematical Tools III: Applied Differential Calculus.. Apply rules of differentiation to find derivatives of functions.. Apply calculus to solve maximization and minimization problems..

6. Week 6Module 2:

   • Unit 1: Statistical Tools I: Measures of Averages · 4 hours

     Study Unit 1: Statistical Tools I: Measures of Averages.. Compute arithmetic mean, median, and mode for a given data set.. Apply measures of averages to make business decisions..

7. Week 7Module 2:

   • Unit 2: Statistical Tools II: Measures of Variability or Dispersion · 4 hours

     Study Unit 2: Statistical Tools II: Measures of Variability or Dispersion.. Calculate range, mean deviation, variance, and standard deviation.. Apply measures of dispersion to analyze data variability..

8. Week 8Module 2:

   • Unit 3: Statistical Tools III: Sets and Set Operations · 4 hours

     Study Unit 3: Statistical Tools III: Sets and Set Operations.. Perform set operations such as union and intersection.. Apply set theory to solve enumeration problems..

9. Week 9Module 2:

   • Unit 4: Statistical Tools IV: Probability Theory and Applications · 4 hours

     Study Unit 4: Statistical Tools IV: Probability Theory and Applications.. Calculate theoretical and empirical probabilities.. Apply laws of probability to solve business problems..

10. Week 10Module 2:

    • Unit 5: Correlation Theory · 4 hours

      Study Unit 5: Correlation Theory.. Compute linear, rank, and partial correlation coefficients.. Interpret correlation coefficients to determine relationships between variables..

11. Week 11Module 3:

    • Unit 1: Forecasting and Time-Series Analysis · 4 hours

      Study Unit 1: Forecasting and Time-Series Analysis.. Apply moving averages and least squares methods for forecasting.. Analyze time-series data to make future predictions..

    • Unit 2: Index Numbers · 4 hours

      Study Unit 2: Index Numbers.. Calculate simple and weighted aggregate price indices.. Apply index numbers to analyze economic changes..

12. Week 12Module 3:

    • Unit 3: Inventory Control · 4 hours

      Study Unit 3: Inventory Control.. Apply inventory control models to minimize costs.. Calculate economic order quantity (EOQ) and economic batch quantity (EBQ)..

    • Unit 4: Decision Analysis · 4 hours

      Study Unit 4: Decision Analysis.. Construct payoff tables and calculate expected monetary values.. Make decisions under conditions of certainty and uncertainty..

13. Week 13Module 3:

    • Unit 5: Network Planning and Analysis · 4 hours

      Study Unit 5: Network Planning and Analysis.. Construct activity networks and precedence tables.. Apply critical path analysis to project management..