QMBD-X08

QMBD-X08
(PGDM-PT 2008-11 : Term-VIII)

Quantitative Models for Business Decision
(Faculty: Prof. Sabyasachi Patra)

COURSE OUTLINE

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 used for business decisions.

Course Outline:

1. Fundamentals of Nonlinear Programming (NLP): (3 sessions)

Introduction, Convex functions and sets, Single variable unconstrained optimization, Multivariable unconstrained optimization, Constrained Optimization, Quadratic programming, Applications – Profit maximization, Portfolio selection with risky securities etc.

2. Network Models: (2 sessions)

Introduction, Shortest path, Maximum flow, Minimum spanning tree

3. Scheduling Models (2 sessions)

Introduction, n-job/3-machines (modified Johnson’s algorithm), n-job/m-machines

4. Decision Analysis and Games (5 sessions)

Introduction, Analytic hierarchy approach (AHP), Data Envelopment analysis (DEA), Goal Programming (GP), Expected value criteria, Decision tree, Bayes Rule, Utility theory, Game theory etc.

5. Stochastic Processes (3 sessions)

Markov chains, Birth-and-death process, Waiting line models – Little’s law, Simple queue model (M/M/1), Multi-server model (M/M/S), Limited Server Models, Markov Decision Processes – Policy improvement algorithm

Readings:

· Lecture Notes
· Fundamental to Operations Research by Hillier and Liebermann
· Operations Research by Taha
Examinations & Evaluation

Class Participation: 10 Marks
Quizzes: 30 Marks (15+15)
Assignment: 20 Marks
End-Term: 40 Marks

Total: 100 marks
Created By: Bijoy Kar on 08/10/2010 at 01:07 PM
Category: ExPGP-III Doctype: Document

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