NTITATIVE MGNT
QUANTITATIVE APPLICATIONS IN MANAGEMENT

Course Code: MIB 105Credit Units: 03

Course Objective:

The objective of this course is to develop the understanding of the various statistical models, used for decisions making in the functions of the management of any organization with respect to International Business. To equip the students with tools and techniques for application of concepts to real life problems for efficient managerial decision making.

Learning Outcomes:
At the end of the course students will be able to:
Use statistical techniques to collect and analyse data
Produce forecasts using statistical packages
Apply quantitative techniques to business situations.

Course Contents:

Module I: Introduction
Quantitative Decision Making - an overview,
Collection , Classification & Presentation of Data,
Measures of Central Tendency - Mean, Median, Mode, Geometric Mean & Harmonic Mean, Measures of Dispersion – Range, Quartile Deviation, Average Deviation & Standard Deviation.

Module 2 : Probability , Probability Distributions & Decision theory Basic Concepts of Probability
Discrete Probability Distribution
Continuous Probability Distributions
Decision Theory : introduction to decision making & decision environments

Module 3 Sampling , Sampling Distributions & Testing of Hypothesis Sampling Fundamentals
Different Methods of sampling
Sampling Distributions
Testing of Hypotheses: Hypothesis testing for means & proportions

Module 4 Forecasting Techniques & Time Series Analysis
Business Forecasting
Correlation
Regression analysis & its Applications for managers
Various components of time series & their analysis
Use of statistical packages such as MS Excel /SPSS for forecasting & analysis

Module 5: Linear Programming
Introduction of Operations Research, Scope and Models in Operations Research, Introduction of Linear Programming, Formulation of LPP & its applications to managers.

...Centre for Continuing Education
Executive MBA
(OIL & GAS Management)
Batch: _______________________
Semester: _______________________
Name: _______________________
Sap No/Regn No: _______________________
Assignment – 1
For
Quantitative Techniques for ManagementApplications
MBCQ -721
University of Petroleum & Energy Studies
Last Date to submit Assignment-1:-15th Sep 2012
SECTION A (TOTAL MARKS 20)
Each question carries equal marks. Attempt all.
1. Point out the assumptions of Linear Programming. Solve the following by using graphical method; Maximize z =- 5y, subject to x +y ≤ 1, 0.5x + 5y ≥ 0, and x ≥ 0, y ≥ 0.
2. Explain the meaning of two person zero sum game. Define saddle point in a game. Clearly explain the rules of dominance for a game.
3. Define Binomial & Poisson Distributions. A problem in QT is given to three students A, B, and C whose chances of solving it are ½, ¾ and ¼ respectively. What is the probability that the problem will be solved if all of them try independently?
4. Explain the difference and relation between a transportation & assignment problem.
SECTION B (TOTAL MARKS 30)
Each question carries Equal marks. Attempt all.
5. a) In a petroleum engineering workshop there are seven machines for drilling, two for turning, three for milling and one for grinding. Four types of brackets are made. Type A is found by work study to require 7 minutes drilling, 3...

...Quantitative Techniques/Operations Research
Successful managers use quantitative techniques in decision making when:
1. The problem is complex.
2. The problem involves many variables.
3. There are data which describe the decision environment.
4. There are data which describe the value or utility of the different possible alternatives.
5. The goals of the decision maker or the organization can be described inquantitative terms.
6. Workable models are available for these situations.
Six steps towards making better decisions:
Process Activities Process Steps Process Output
1. Site visits Observe the problem Sufficient information
Conferences environment and support to proceed
Observation
Research
2. Define use Analyze and define Clear grasp of need for
Define objectives and nature of solution
Define limitations requested
3. MS/OR tools Develop a model Model that works under
Interrelationships identified limitations
Mathematical models
Known solutions
Research
4. Internal/external data Select appropriate data Sufficient inputs to
Facts input operate and test model
Opinions
Computer data banks
5. Testing Provide a solution and Solution(s) that support
Limitations test its reasonableness current organizational
Verification objectives
6. Behavioral issues...

...QuantitativeManagement Theory is realized through measurable data and mathematical models. The theories are worked out through mathematical games and problem solving. The results are then acted upon for decision making.
During World War II, mathematicians, physicists, and other scientists joined together to solve military problems. The quantitative school of management is a result of the research conducted during World War II. Thequantitative approachto management involves the use of quantitative techniques, such as statistics, information models, and computer simulations, to improve decision making. This school consists of several branches, described in the following sections.
The management science school emerged to treat the problems associated with global warfare. Today, this view encourages managers to use mathematics, statistics, and other quantitative techniques to make management decisions.
• Managers can use computer models to figure out the best way to do something — saving both money and time. Managers use several science applications.
• Mathematical forecasting helps make projections that are useful in the planning process.
• Inventory modeling helps control inventories by mathematically establishing how and when to order a product.
• Queuing theory helps allocate service personnel or workstations...

...
Quantitative Techniques in Management
Assignment A
1. From the following data calculate the missing the missing frequency.
No. of
tablets
4-8 8-12 12-16 16-20 20-24 24-28 28-32 32-36 36-40
No. of
Persons
Cured
11 13 16 14? 9 17 6 4
The average number of tablets to curve fever was 19.9.
Solution:
No. of tablets
Mid point
No. of persons cured
Product
4-8
6
11
66
8-12
10
13
130
12-16
14
16
224
16-20
18
14
252
20-24
22
x
22x
24-28
28-32
26
30
9
17
234
510
32-36
34
6
204
36-40
38
4
152
1772+22x/90+x=19.9
1772+22x=1791+19.9x
2.1x=19
X= 9
Hence the missing frequency 20-24= 9
2. You are supplied the following data about heights of students in a college.
Boys Girls
Number 72 38
Average height (inches) 68 61
Variance of distribution 9 4
Find out:
(a). In which sex, boys or girls, is there greater variability in individual heights.
(b). Common average heights in boys and girls.
(c). Standard deviation of height of boys and girls taken together.
(d). Combined variability.
a. C.V of boys height = σ¹/x×100=√9/68=4.41%
(a) C.V of girls height = σ²/x ×100=√4/61×100=3.28%
Thus there is greater variability in the height of boys than girls,
(b) height of boys and girls combined is
̅x¹²=N¹̅x¹+N²̅x²/N¹+N²=
72×68+38×61/72+38=7214/110=65.58 inches approx.
(c) the combined standard deviation may be calculated by...

...64
Academy of Management Perspectives
August
Hidden Costs Associated with Stakeholders in
Supply Management
by Christine M. Wright, Michael E. Smith, and Brian G. Wright
Executive Overview
Many businesses fail to recognize the strategic importance of sourcing decisions. Companies often focus on
the price and quality of goods provided to them, but it is easy to overlook the social and environmental
standards of suppliers. Those who do may find themselves on the receiving end of aggressive attacks from
a range of stakeholders, from customers and shareholders to the news media. Indeed, the business practices
of Georgia Pacific, a hardwood plywood supplier, were at the heart of actions by the Rainforest Action
Network aimed at disrupting operations at Home Depot; the practices of tomato growers that supplied Taco
Bell restaurants were behind boycotts of the fast food giant; and fishing practices that endangered dolphins
were the source of discontent with the tuna industry. Clearly the business practices of key suppliers can
readily tarnish a corporate reputation, and the strategic impact—potentially including business disruption,
business interruption, and even business failure— of neglecting these perceptions needs to be recognized by
present and future business leaders. In order to examine the dynamics of change brought about as a result
of negative stakeholder perceptions of supply management practices, we...

...Final Paper: Researching Workgroup Productivity within Restaurants
Mae Ella
MGT: 415
Professor Dennis Lauvier
4/16/2012
Researching Workgroup Productivity within Restaurants
After years of restaurant management experience and analysis, I can tell you that restaurants rely heavily upon a group of individuals which effectually work together to accomplish the organizational objectives; therefore, structured workgroup dynamics are necessary for optimal group productivity and cohesiveness. Restaurant workgroups need leadership which imposes the proper utilization of apposite tools and strategy, in collaboration with capable and effective conflict resolution. It is important that group leaders remove any obstacles which may obstruct workgroup productivity and/or hinder the group's performance and overall success. Restaurant workgroups face an abundant array of issues: role and intergroup conflict, communication problems, and at times the cohesiveness may decline among its diverse members- all of which can hinder group productivity. When there is influential direction from proficient leadership, correlated with solid workgroup dynamics, the restaurant workgroup is better equipped to overcome any barriers that may hinder its cohesiveness, and overall, can function more productively.
Group Behavior in Organizations, by Susan Losh (2011), explains that “Group dynamics refers to the study of the structure, properties, and processes that exist in...

...
Application of Management Functions
Phyllis Brown
HCS/325
March 29, 2014
Ms. Milena Brankova
Application of Management Functions
The roles and application of management functions today starts with the four major functions of management in a health care setting which are Planning, which is the setting performance objectives and deciding how to achieve them, organizing, which includes arranging task, people and other resources to accomplish the work, Leading inspiring people to work harder to achieve high performance and controlling measures, the performance and taking action to ensure desired results. All these functions are included not just in the work place, but should play a role in your All these functions are included not just in the work place, but should play a role in your everyday life style also. All these functions are included not just in the work place, but should play a role in your everyday life also.
The health care professional who assumes a management role must recognize that this transition involves adopting a second and concurrent career of equal importance to his/her primary occupation. Many such managers have considerable difficulty balancing the two sides of the roles because most are well trained in their specialties, but enter management with little or no preparation for...

...Visayas State University
College of Management and Economics
DEPARTMENT OF BUSINESS MANAGEMENT
Visca, Baybay City, Leyte
MGMT 203
Management Science
INVENTORY MANAGEMENTAPPLICATIONS
to
Uno+ Premium Grower Pellets
USING THE BASIC ECONOMIC ORDER QUANTITY (EOQ) MODEL
Submitted by:
SARAH B. ANWAR, MARVIN BANDALAN, ANTONETTE S. CRUZ,
CRISTOPER M. ORILLA and MARIA HELEN P. SECO
Students, Master inManagement
Submitted to:
DR. ANALITA A. SALABAO
Professor, Mgmt 203
November 8,2014
1st Semester SY2014-2015
Table of Contents
Page
I. Introduction .................................................................................................................. 3
II. Problem Situation........................................................................................................ 4
III. Problem Goal……………………….……..................................................................... 5
IV. Background of the Problem ....................................................................................... 5
V. Problem Solving using the Basic EOQ Model............................................................. 6
VI. Sensitivity Analysis..................................................................................................... 9
VII. Findings.................................................................................................................... 16
VIII....

1434 Words |
17 Pages

Share this Document

{"hostname":"studymode.com","essaysImgCdnUrl":"\/\/images-study.netdna-ssl.com\/pi\/","useDefaultThumbs":true,"defaultThumbImgs":["\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_1.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_2.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_3.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_4.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_5.png"],"thumb_default_size":"160x220","thumb_ac_size":"80x110","isPayOrJoin":false,"essayUpload":false,"site_id":1,"autoComplete":false,"isPremiumCountry":false,"userCountryCode":"CN","logPixelPath":"\/\/www.smhpix.com\/pixel.gif","tracking_url":"\/\/www.smhpix.com\/pixel.gif","cookies":{"unlimitedBanner":"off"},"essay":{"essayId":35472787,"categoryName":"Periodicals","categoryParentId":"17","currentPage":1,"format":"text","pageMeta":{"text":{"startPage":1,"endPage":3,"pageRange":"1-3","totalPages":3}},"access":"premium","title":"Quantitative Applications in Management","additionalIds":[3,7,93,5],"additional":["Business \u0026 Economy","Education","Education\/Greek System","Computer Science"],"loadedPages":{"html":[],"text":[1,2,3]}},"user":null,"canonicalUrl":"http:\/\/www.studymode.com\/essays\/Quantitative-Applications-In-Management-901091.html","pagesPerLoad":50,"userType":"member_guest","ct":10,"ndocs":"1,500,000","pdocs":"6,000","cc":"10_PERCENT_1MO_AND_6MO","signUpUrl":"https:\/\/www.studymode.com\/signup\/","joinUrl":"https:\/\/www.studymode.com\/join","payPlanUrl":"\/checkout\/pay","upgradeUrl":"\/checkout\/upgrade","freeTrialUrl":"https:\/\/www.studymode.com\/signup\/?redirectUrl=https%3A%2F%2Fwww.studymode.com%2Fcheckout%2Fpay%2Ffree-trial\u0026bypassPaymentPage=1","showModal":"get-access","showModalUrl":"https:\/\/www.studymode.com\/signup\/?redirectUrl=https%3A%2F%2Fwww.studymode.com%2Fjoin","joinFreeUrl":"\/essays\/?newuser=1","siteId":1,"facebook":{"clientId":"306058689489023","version":"v2.8","language":"en_US"}}