Introduction to Quantitative Decision Making
Overview
- Introduction to modelling - steps of modelling process
- Introduction to decision making under certainty
- Optimization, sensitivity analysis
- Introduction to linear models and linear programming, product mix model, advertising model, production process model, work schedule model
- Multi-period production model, transportation model, assignment model
- Introduction to probability, Bayes’ Theorem
- Probability distribution and decision analysis, payoff table and decision tree
- Planning a decision strategy.
Lectures and seminars.
Final Exam | 30% |
Term Examinations (2-3) | 40% - 50% |
Computer Lab Test | 5% - 10% |
Assignments | 10% - 20% |
100% |
To pass the course it is necessary to achieve at least 50% on the final exam and achieve at least 50% on the combined average of all tests and examinations.
At the end of the course, the successful student should be able to:
- Understand solving problems and decision making using quantitative analysis.
- Understand the process of modelling (Cost, Revenue and Profit Models).
- Understand decision making under certainty (Optimization, Sensitivity Analysis).
- Understand computer-based systems to help with quantitative analysis and design models for business use.
- Understand developing Excel-based models for problem solving.
- Understand linear models and linear programming (product mix model, advertising model, production process model, work schedule model) using optimization functions such as Excel Solver, LINDO Systems.
- Understand multi-period production model, transportation model, assignment model.
- Understand probability, and Bayes’ Theorem.
- Understand probability distribution and decision analysis.
- Understand structuring the decision problem with payoff table and decision tree.
- Understand making decisions under certainty and uncertainty.
- Understand decision strategy.
- Understand carrying out sensitivity analysis.
Textbooks and Materials to be Purchased by Students
Custom Course Publication; Selected chapters from SMA – Spreadsheet Modeling and Applications, Albright and Winston, Thompson Learning Inc, 2005) and Quantitative Methods for Business, Latest edition, Anderson, Sweeney and Williams, Thompson, 2004.
Business Calculator: one of:
- Texas Instruments BAII+
- Texas Instruments BA35
- Hewlett Packard 10B
- Sharp EL-733a
Requisites
Course Guidelines
Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.
Course Transfers to Other Institutions
Below are current transfer agreements from Douglas College to other institutions for the current course guidelines only. For a full list of transfer details and archived courses, please see the BC Transfer Guide.
Institution | Transfer details for BUSN 2290 |
---|---|
Coquitlam College (COQU) | COQU STAT 290 (3) |
Kwantlen Polytechnic University (KPU) | No credit |
Simon Fraser University (SFU) | SFU BUS 2XX (3) |
Thompson Rivers University (TRU) | TRU BBUS 2XXX (3) |
Trinity Western University (TWU) | TWU BUSI 2XX (3) |
University of British Columbia - Okanagan (UBCO) | UBCO MGMT_O 3rd (3) |
University of British Columbia - Vancouver (UBCV) | DOUG BUSN 2290 (3) & DOUG BUSN 2429 (3) & DOUG BUSN 3431 (3) = UBCV COMM 190 (3) & UBCV COMM 191 (3) |
University of British Columbia - Vancouver (UBCV) | UBCV COMM_V 2nd (3) |
University of British Columbia - Vancouver (UBCV) | DOUG BUSN 2290 (3) & DOUG BUSN 2429 (3) & DOUG BUSN 3431 (3) = UBCV COMM_V 190 (3) & UBCV COMM_V 191 (3) |
University of Northern BC (UNBC) | UNBC COMM 251 (3) |
University of the Fraser Valley (UFV) | UFV BUS 2XX (3) |
University of Victoria (UVIC) | UVIC MATH 1XX (1.5) |