Computer models for business decisions
S Bedingfield
6 points
* Two 1-hour lectures and one 1-hour tutorial per week
*
Second semester
* Clayton
Objectives At the completion of this subject students should understand some of the more commonly used computer modelling techniques used in business and industry and be familiar with the application of these techniques to business-related problems using a variety of applications software and other computer tools.
Synopsis This subject is designed to give students an understanding of some of the more commonly used computer modelling techniques used in business and industry; to give students familiarity with the application of these techniques to business-related problems using a variety of applications software and other computer tools. This subject examines the principles and practice of modelling business systems as a support for the decision-making activities of executives. The topics include decision making under uncertainty, Monte Carlo simulation, forecasting, inventory control and project management.
Assessment Assignments and tests: 20%
* Examination: 80%
Prescribed texts
Willis R J Business modelling Dept Business Systems, Monash U, 1996
Recommended texts
Harrison S R and Tamaschke H U Statistics for business, economics and management Prentice-Hall, 1993
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