Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should have enhanced their comprehension of planning and control problems by their appreciation of the quantitative dimension of such problems; recognised the potential of quantitative methods to support decision making in organisations; be able to employ computing and analytical skills towards the pursuit of better management; have insights into the rationale of commonly used quantitative techniques; be able to apply quantitative techniques in other disciplines.
Synopsis This subject applies quantitative and computer-based methods to managerial decision processes. Topics covered include introduction to computing; the consumer price index; marginal analysis; optimal operation of an organisation within its constraints; probability; statistical measures summarising the properties of data sets; decision making under uncertainty; establishment of relationships between important features (such as sales) and possible explanatory factors (which may be lagged); forecasting; project management.
Assessment Ten quantitative assignments of 1-2 questions each: 40% + Examination (2.5 hours): 60%