QMB4200

Quantitative Methods for Business Decisions

Course Code: QMB4200

Credit Hours: 3

Effective beginning: Fall 2020

 

Course Description:
This course deals with business decision making. Effective decision making is vital to every basic function of a business firm and to its overall success. Business decision making is viewed as a process which involves the identification and formulation of a business problem, development of alternatives for solving the problem, and selection of the best alternative and specific course of action.

Course Details

Prerequisites:

MAN 3504

Instructors:

TBD

 

Required textbooks/ course materials:

Course materials will be provided by the instructor.

 

Assignment/course outline:

The following topics will be covered in this course at the discretion of the instructor:   

  • Introduction to Management Science
  • Linear Programming
  • Integer Programming
  • Transportation, Transshipment, and Assignment Problems
  • Network Flow Models
  • Project Management
  • Multicriteria Decision Making
  • Nonlinear Programming
  • Probability and Statistics
  • Decision Analysis Queueing
  • Analysis Simulation
  • Forecasting
  • Inventory Management

 

Discipline-level learning outcomes:

Bachelor of Science in Business Administration degree Learning Outcomes:  

BA-1 Exhibit knowledge of accounting, finance, management, legal, operations and marketing.   

BA-2 Identify MIS, economics, technology, statistical data and decision support tools for making effective business decisions.

BA-3 Recognize the impact of today‚Äôs global economy, diversity and cultures on businesses. 

BA-4 Comprehend how effective leadership, teamwork and ethics relate to best business practices.  

BA-5 Use effective oral and written communication skills, including effective research techniques.

 

Course-level student learning outcomesDiscipline-level learning outcomesAssessment methods

Evaluate the management science, logical, consistent, and systematic approach to solving problems.

Appraise linear programming models and techniques to solve business problems.

Propose network flow models to solve shortest route, minimal spanning tree, and maximal flow problems.

Contrast projects utilizing CPM and PERT networks.

Evaluate non-linear programming and its problem solving applications.

Appraise inventory management techniques to reduce the cost of inventory.

 

BA-1, BA-2, BA-3, BA-4, BA-5  

BA-1, BA-2, BA-3, BA-4, BA-5        

BA-1, BA-2, BA-3, BA-4, BA-5 

BA-1, BA-2, BA-3, BA-4, BA-5        

BA-1, BA-2, BA-3, BA-4, BA-5        

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, Tests, Quizzes

 

 

  • Attend and participate in class regularly.
  • Read all assigned material before class.
  • Study in-class notes and online (Canvas) materials.
  • Complete assigned projects in a timely manner to enable reflections and revisions on the final product.
  • Participate in discussions.
  • Demonstrate your mastery of the required skills on quizzes, exams, etc.
  • Complete all assignments with promptness and accuracy.
  • All written documents as well as online assignments must be completed using correct grammar, spelling, and structure.

College-wide policies and resources

For more specific information on Chipola's college-wide academic policies and resources available to students, visit the link below.