Maricopa Community Colleges  GBS222   19956-19965 
Official Course Description: MCCCD Approval: 05/23/95
GBS222 19956-19965 LEC 3 Credit(s) 3 Period(s)
Quantitative Methods in Business
Applications of quantitative optimization methods in operations management decisions. Prerequisites: Grade of "C" or better in MAT153, or MAT154, or MAT155, or equivalent, or satisfactory score on district placement exam.
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MCCCD Official Course Competencies:
 
GBS222   19956-19965 Quantitative Methods in Business
1. Identify business applications and problem situations where quantitative methods and modeling are useful for decision making. (I)
2. Design and solve linear program models by the graphical and computer simplex methods. (II)
3. Solve assignment problems via the Hungarian method. (III)
4. Apply the branch and bound procedure to solve traveling salesman problems. (IV)
5. Solve transportation models both initially and optimally. (V)
6. Describe the types of situations where PERT/CPM should be applied. ( VI)
7. Subdivide a project into activities and compute the probability of theproject being completed by a certain due date. (VI)
8. Describe classical decision theory components. (VII)
9. Construct a decision tree. (VII)
10. Develop total cost and EOQ models for specific inventory systems. (VIII)
11. Apply a simplified version of the MRP models. (VIII)
12. Describe computer simulation as a significant problem-solving tool. (IX)
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MCCCD Official Course Outline:
 
GBS222   19956-19965 Quantitative Methods in Business
    I. Importance of quantitative methods in business today
      II. Linear programming
          A. Graphical solution
          B. Simplex solution by computer
        III. Assignment application
          IV. Branch and bound applications
            V. Transportation applications
              VI. PERT/CPM
                  A. Networks
                  B. Critical path
                  C. Probability of completion
                VII. Decision theory
                    A. Maxi-min
                    B. Maxi-max
                    C. Mini-max regret
                    D. Probabilities
                  VIII. Inventory
                      A. Total cost model
                      B. EOQ model
                      C. Planned shortage model
                      D. Quantity discount applications
                      E. MRP models
                    IX. Simulation
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