Objectives:
To familiarize student with the use quantitative techniques in managerial decision
making.
Module I
Quantitative Techniques - Introduction - Meaning and definition - Classification of Q.T -
QT and other disciplines - Application of QT in business - Limitations.
Module II
Correlation and Regression Analysis: Meaning and definition of Correlation - Karl Pearson's
co-efficient of correlation - Rank correlation - Regression - Types - Determination of simple
linear regression - Coefficient of determination.
Module III
Set Theory - Venn Diagrams - Probability: Concept of probability - Meaning and definition -
Approaches to probability - Theorems of probability - Addition Theorem - Multiplication
Theorem -Conditional probability- Inverse probability- Baye'sTheorem.
Module IV
Theoretical Distribution: Basic assumptions and characteristics - Probability distribution -
Fitting of probability distribution - Binomial distribution - Fitting of binomial distribution -
Poisson distribution - Fitting of Poisson distribution - Normal distribution - Features and
properties - Standard normal curve.
Module V
Quantitative approach to decision making- Types and steps in decision making-Decision
tree analysis-Different types of models-Model building steps - Linear programmingconcepts
- Mathematical formulation - Solution of LPP using graphic method
- Teacher: Dr. Salini K Saju STAFF
