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QMBD-P10
PGDM 2010-12: Term-V

Quantitative Methods for Business Decision

Prof. Sudeep Mallick


Introduction

Objectives of the course to provide a formal quantitative approach to problem solving and to give an intuition for managerial situations where a quantitative approach is appropriate. In addition, this course also introduces some widely used quantitative models and software for solving such models. Besides this few case study will be also given to clearly demonstrate the application of quantitative models in real scenario.
Session wise course outline

1. Forecasting and time series analysis (session 1 & 2)
a. Components of time series
b. Trend analysis
c. Forecasting using smoothing methods
d. Forecasting time series using trend projection
e. Forecasting with seasonal component
2. Queuing theory (session 3 & 4)
a. Queuing models
b. Exponential distribution
c. Birth and death process
d. Queuing networks
3. Markov chains (session 5 & 6)
a. Stochastic processes
b. Markov chains
c. Classification of states of MC
d. Long run properties of MC
e. Continuous time MC
4. Markov decision process (session 7 & 8)
a. MDP
b. Linear programming
c. Optimal policies
d. Discounted cost criteria
5. Meta-heuristics (session 9 & 10)
a. Tabu search
b. Simulated annealing
c. Genetic algorithms
6. Inventory theory (session 11)
a. Inventory models
b. Deterministic models
c. Stochastic models
d. Large Inventory systems
7. Analytic Hierarchy Process (AHP) (session 12 & 13)
a. Consistency test
b. Normalization
c. Fundamental scale
d. Quantifying qualitative matrix
8. Non cooperative Game Theory (session 14 to 16)
a. Non-cooperative game theory
b. Zero sum games
c. Sequential games
d. Simultaneous move games
e. Mixed strategy games
f. Use of linear programming for solving games
g. Bayesian Games
h. Applications
9. Co-operative game theory and mechanism design (session 17 & 18)
a. Core and shapely value concepts
b. Mechanism design (auctions)
c. Applications
10. Non linear programming (session 19, 20)
a. Recap of linear programming
b. Intro to non-linear problems
c. Real world problems
d. One variable unconstrained optimization
e. Multi variable unconstrained optimization
f. KKT conditions
g. Quadratic programming
h. Separable programming
i. Convex programming
Readings

1. Fundamentals of Operations research by Hillier and Liebermann
2. Statistics for management by Levin and Rubin
3. Statistics for Business and Economics by Anderson, Sweeney and Williams
4. Games of Strategy by Avinash Dixit & Susan Skeath
Evaluation

Quiz: 30 marks

Assignments: 20 marks

Case Study submission: 10 marks

End term: 40 marks

Created By: Debasis Mohanty on 09/16/2011 at 04:50 PM
Category: PGDM-II Doctype: Document

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