QUANTITAIVE TECHNIQUES

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QUANTITAIVE TECHNIQUES  

Objective: The objective of this paper is to acquaint the students with quantitative and operations research techniques that play an important role in managerial decisionmaking.
Unit I
Introduction to Statistics: Meaning,Definition in singular and plural sense, Features of statistics,Importance , Functions, Scope and Limitations of Statistics. Measures of Central Tendency: Mathematical averages including arithmetic mean,
geometric mean and harmonic mean, properties and applications. Positional Averages: Mode and median (and other partition values including quartiles, deciles and percentile. Graphic presentation of measures of central tendency.
Measures of Variation: Absolute and relative measures. Range, quartile deviation, mean deviation, standard deviation and their coefficients. Properties of Standard Deviation and Variance. Moments Concept, calculation and Significance. Skewness:
Meaning, Measurement using Karl Pearson and Bowley Measures. Concept of Kurtosis.
Unit II
Simple Correlation Analysis: Meaning of Correlation:Simple ,multiple and partial,linear and non linear correlation, correlation and causation ,scatter diagram,pearson’s correlation coefficient,calculation and properties of coefficient,Rark
Correlation. Simple Regression Analysis: Meaning of Regression,Principle of least square and regression analysis,Calculation of regression coefficient,properties of regression coefficient,Relationship between correlation and regression cpoefficientg.
Theory of Probability: Meaning of Probility, Approaches to the calculation of probabability.calculation of event probabbilities,Addition and Multiplication Laws of Probabbility (Proof not required),Conditional Probability and Bayes’ Theorem (Proof
not required).
Unit III
Probabability Distribution: Binomial Distribution, Poission Distribution and Normal Distribution with threir properties ad applications. Linear Programming; Formulation of linear programming problems. Solution by
Graphic method and by using Simplex method algorithm including Big-M method. Business applications of LP. Degeneracy. Duality. Post-optimality analysis. Game Theory: Two-person zero-sum games. Games of pure strategies and Games of
mixed strategies. Rule of dominance. Graphic solution to games. Business applications.
Unit IV
Transportation: Transportation problem: Initial feasible solution using North-west Corner Rule; Least Cost Method; and Vogel’s Approximation Method. Testing optimality using MODI method.
Assignment Problems: Assignment problem: Solution using Hungarian Assignment Method. Project Scheduling: PERT/CPM: Project networks. Scheduling of projects with known activity times – Critical path and scheduling of activities.