MBA Paper 6: Quantitative Decision Making

Paper 6: Quantitative Decision Making

 

Quantitative Decision Making

SECTION A

Unit I: Measures of Central Tendency - Arithmetic Mean, Median, Mode, Comparison of Mean, Median

and Mode.

Unit II: Measures of Dispersion - Range, Quartile Deviation, Mean Deviation, Standard Deviation,

Relative Dispersion: Coefficient of Variance.

Unit III: Regression and Correlation Analysis - Regression: Method of Least Squares, Regression

Coefficient, Standard Errors of Estimate. Correlation: Types, Graphical and Algebraic Method, Coefficient

of Determination, Rank Correlation.

Unit IV: Time Series Analysis and Forecasting - Components of Time Series, Trend, seasonal variation,

cyclic variation and irregular variation, Forecasting.

Unit V: Matrices and Markov Chains - Matrices: Concepts, Laws, Addition, Multiplication using

Matrices, Inverse of Matrix, Markov Chains and its application.

SECTION B

Unit VI: Introduction to Operations Research - Definition, Characteristics, Model, Phases, Indian

Companies using Operations Research Techniques, Future Scope of Operations Research Industry,

Quantitative Approach to Decision Making.

Unit VII: LPP - Graphical Method - Assumptions, Formulation and Solution by Graphical Method:

Feasibility Region, Unboundedness, Infeasibility, Multiple Optimum Solutions.

Unit VIII: LPP - Simplex Method - Formulation and Construction of Initial Basic Table by Simplex

Method and its interpretation, Theoretical Concept of Duality and Sensitivity.

Unit IX: LPP – Transportation - Formulation and Solution by North West Corner Rule (NWC), Least Cost

Method (LCM) and Vogel’s Approximation Method (VAM); Optimization by Modified Distribution

Method (MODI).

Unit X: LPP – Assignment - Formulation and Solution.

Suggested Readings:-

1.

Business Statistics, G. C. Beri (TMH)

2.

Quantitative Techniques in Management, N. D. Vohra (TMH)

3.

Quantitative Methods For Business, Anderson ( Thomson Learning Books)

4.

Statistical methods, S.P. Gupta ( S Chand)

5.

Levin Richard & Rubin David – Statistics for Management (Prentice Hall of India)