|
|
|
Dec 21, 2024
|
|
2020-2021 Catalog [PREVIOUS CATALOG YEAR]
|
ECN 234 - Quantitative Methods
Description: Exploration of basic models of statistical decision making, linear programming, inventory management, CPM and simulation with emphasis on model building. Use of standard computer programs.
Prerequisites: ECN 232
Credits: 3
Lecture: 3
Course Content:
- Introduction to quantitative methods
- Probability concepts
- Probability distributions and expected value
- Forecasting
- Basic concepts of decision making
- Elements of decision theory
- Linear programming
- The simplex method in linear programming
- Decision making using sample information
- Decision making using the normal distribution
- Network planning with PERT
- Dynamic programming
Learning Outcomes:
- Identify the key steps to solving a quantitative business problem. (1)
- Identify the steps involved in constructing a quantitative model. (1,2)
- Identify the main quantitative models for solving business problems. (3,4,7,8,11,12)
- Construct a model for solving a business problem. (3,4,7,8,11,12)
- Combine quantitative models to create new problem-solving models. (6,9,10)
- Evaluate the outcomes of the problem-solving process in business. (4,5,7-9,11,12)
|
|
|
