Welcome to QMB 6603
Quantitative Methods in Business
Spring, 2001
***
Check this section and the Web Board each week for course
updates.
***
Next due date: Apr 28, 2001 for Course Project
***
Next due date after that: May 4, 2001 for final exam
***
Suggestion: submit Management Scientist Out Files as
inserted files in the e-mail in which you submit
your answers to case questions. This saves you from
having to convert the Out Files to Word documents.
***
Please forward your preferred e-mail address to me
anytime between Jan 8 and Jan 13 so that I can prepare
the Course Address book. Please also respond to the
Course Web Board Conference named "Virtual Role Call"
between Jan 8 and Jan 13 so that we will know who are our
colleagues in the course.
About the Course
This course is an introduction
to basic quantitative tools used by operations managers
to improve the decision making process in organizations,
and the application of these tools to real life problems.
Quantitative methods covered include decision analysis,
forecasting, networking models used in project
management, queuing, inventory models, and linear
programming.
Emphasis is on concepts, applications, and interpretation
of results rather than theory and calculations. We will
use a computer software package, "The Management
Scientist," for model analysis.
This Internet version of Quantitative Methods for
Business was developed to give students the opportunity
to take this course at their own location, and at their
own pace within the parameters of the course
schedule.
Course structure is provided through the course module
schedule, which is linked at the bottom of this and all
course Web Pages (you may visit the schedule now by
selecting Module
Schedule).
In addition, a Course Web Board is provided for those
students who wish to participate in asynchronous class
discussions via conferences, or live discussions via
"chats." Conferences are available any time. The Web
Board is linked at the bottom of this and all course Web
Pages (you may visit the Web Board now by selecting
Web
Board).
E-mail will be the primary means of communication and
transmission of assignments between the students and
instructor.
Whether you use the Web Board or not, be sure to visit
the Module Schedule at least on a weekly basis since it
includes assignments and due dates.
Learning
Objectives
Demonstrate ability to utilize
quantitative analysis for operations management decision
making, including problem definition, model development,
analysis of results, and implementation. Show
understanding of key modeling issues and technical
expertise with a variety of methods.
Increase analytical and problem solving skills related to
the management of operations, including the use of
logical models and computer aided tools to solve problems
related to production and services planning and
operation, inventory management, capacity planning and
resource allocation.
Understand the importance of preparing and presenting
effective analysis of business problems involving the
application of quantitative methods. The aim is to
further enhance the student's ability to communicate
business solutions in a professional manner by developing
sound written reports which apply tools and ideas
presented in class.
Course
Overview
This course is organized in
nine main content modules that are to be completed in
sequence. The Main Modules may be accessed through the
Module
Schedule that is linked at
the bottom of this and other course Web pages.
Each Main Module has Learning Objectives, Readings, Note
Outlines, and an Assignment (no Assignment for Main
Module 9). The Readings are from the course text,
"Quantitative Methods for Business," and the software
manual, "The Management Scientist." The Main Modules,
with their direct links are:
|
|
Module
1: Decision
Analysis
|
|
|
Module
2: Forecasting
|
|
|
Module
3: Project
Scheduling
|
|
|
Module
4: Waiting Line
Models
|
|
|
Module
5: Inventory
Management
|
|
|
Module
6: Resource
Allocation and Other Linear Programming
Models
|
|
|
Module
7: Transportation
Models
|
|
|
Module
8: Capital
Budgeting and Other Integer Programming
Models
|
|
|
Module 9: Course
Review
|
Each Main Module provides links to
a set of lecture notes. For example, Module 1 includes
notes on five topic areas. The first topic, Module 1.1
Notes, "Introduction to Quantitative Analysis,"
introduces the course; and is followed by Module 1.2
Notes, "Structuring the Decision Problem." The notes
explain the concepts, assumptions and limitations of the
quantitative methods; and provide examples of computer
software applications.
The notes should be helpful in preparing for the course
case assignments. It is suggested that the notes be read
before the text, as the notes provide areas of
concentration for the course and the assignments. The
notes can be accessed through the Module Schedule as well
as through the parent Main Module.
Assignments
Cases
Quantitative Methods for
Business involves "learning by doing" course assignments.
Nine cases are assigned from the text. Seven of these are
to be completed by the students and forwarded to the
instructor for grading. Two additional cases are
illustrated in the course notes.
The seven graded cases will be worth 5 points each, for a
total of 35 points, comprising 35% of the course grade.
One-half point will be deducted for cases turned in after
the due date posted in the Module Schedule. Up to
one-half point will be deducted for glaring spelling and
grammatical errors in the answers to case questions.
Cases involve problem formulation and analysis by the
computer software package, "The Management Scientist."
Students communicate answers to case questions by
preparing brief write-ups of their results. Computer
output will be stored to a "Management Scientist" OUT
program file, and inserted or copied and pasted to the
Word document answer report. This file is then e-mailed
to the instructor for grading. Alternatively, answer
reports may be written in the e-mail text message, and
the "Management Scientist" OUT program files inserted
directly into the e-mail text. An illustration will be
provided in the Module One.
Students are encouraged to ask questions concerning the
cases. Questions may be asked "publicly" by posting them
to the appropriate conference on the Course Web Board.
For example, questions on Case 1 can be posted to the
Module One Conference. The instructor and students may
reply to these public questions. Alternatively, students
may ask questions directly to the instructor via
e-mail.
Students may submit drafts of case computer output/answer
write-ups for review by the instructor by dates listed in
the Module Schedule.
Course
Project
A course
project is assigned to integrate text, notes, and case
material through the application of a quantitative method
to an organizational problem or decision making situation
of interest to the student.
The following outline provides general guidance for the
project requirements, and suggests the format for the
final report. The format is optional, but the content in
the following format must be included for full
credit.
1.0 Problem Definition
- 1.1 Problem Statement/Research Objective (2 points)
- 1.2 Scope (what aspect of overall problem you will be
focusing on, and what quantitative method you will be
using (2 points)
- 1.3 Assumptions and Limitations (for both the problem
environment and the quantitative method selected) (2
points)
- 1.4 Justification (why are you studying this problem)
(2 points)
2.0 Model Formulation and Data Preparation (attach
computer problem formulation/input data)
- 2.1 Input and Output Variables, Technological
Coefficients, Parameters, and/or Constraints (depending
on the quantitative method selected) (3 points)
- 2.2 Mathematical Relationship of Input Variables,
Output Variables and Constraints (if there are
constraints) (3 points)
- 2.3 Data Preparation, Analysis and Interpretation (4
points)
3.0 Model Solution (attach computer solution)
- 3.1 Model Solution and Interpretation of Computer
Output (4 points)
- 3.2 Sensitivity Analysis or Measure of Reliability of
Solution (as appropriate to the quantitative method
selected) (4 points)
- 3.3 Risks/Drawback of Recommendation (2 points)
- 3.4 Implementation PLAN (2 points)
The course project will count for 30% of the course
grade. One point will be deducted for projects turned in
after the due date posted in the Module Schedule. Up to
one point will be deducted for glaring spelling and
grammatical errors. Students may ask "public" questions
concerning their course project on the Course Web Board
Project Conference, or via e-mail to the instructor.
Students may submit a draft of their course project to
the instructor for feedback. The last day for submission
of drafts for feedback is April 21, 2001.
Final Exam
There will be one
comprehensive final exam. The exam will be open notes and
open book, but it is to be worked without consulting
others. The exam will consist of short answer written and
objective questions covering material from notes, the
text and the cases. The exam will be e-mailed to students
at the beginning of final exam week, and will be due not
later than May 4, 2001. The final exam is worth 35% of
the course grade.
Schedule
The Module
Schedule provides a map of
the course, and includes an index to Main Modules, Module
Notes, Text and Software Manual Readings, and Assignment
and Exam Due Dates. The schedule is organized by Week
Number and Week End Date. The ending date of each week is
provided in order to relate to the dates when course case
assignments and exam are due.
Grades
Grades are A (90-100% of
total points); B (80-89%); C (70-89%); and F (below 70%).
Incomplete will be given by exception when a limited
portion of the course material has not been completed by
the exam due date, in accordance with University policy
published in the Catalog.
Prerequisite
Texts & Software
Anderson, D., Sweeney D., and Williams, T. (1998).
"Quantitative Methods for Business (7th ed.). Cincinnati,
OH: South-Western College Publishing.
Anderson, D., Sweeney D., and Williams., T. (2000). "The
Management Scientist for Windows 95, Windows 98, and
Windows NT (Version 5.0)." Cincinnati, OH: South-Western
College Publishing.
Module
Schedule
About the Course