Quantitative Methods and Metrics for Decision Making

In today¿s business environment, corporate executives and leading professionals must continuously analyze strategic business situations and at times feel limited in their ability to choose appropriate courses of action. In these situations, the executive is expected to utilize sound critical decision making in order to initiate action and move the organization forward, using creative problem solving. The purpose of this course is to provide students with a sound conceptual understanding of the role that Management Science plays in the decision making process. The course will be taught in an applied fashion and whenever possible the "problem scenario approach" will be used. Particular attention will be given to problems, opportunities and decisions facing a manager in today¿s business world. More specifically, we will discuss and extensively analyze the topics of descriptive and inferential statistics and decision-making. The course will primarily consist of lectures, outside readings, problems, and case studies designed to provide the student with the tools and techniques required to manage processes efficiently and make decisions effectively. At the completion of this course, the student is expected to have gained a working knowledge and understanding of the mathematical models used in Management, how they are constructed and used in practice, and the important contributions they have made to the success of managerial decision-making.