This course focuses on the making of optimal decisions in business situations where numbers and data are available to evaluate alternative courses of action. This is a hybrid course in which the material is taught both online and in class. Quantitative concepts of decision making will be presented online prior to each class. In class, students will apply those concepts in a lab setting through a variety of exercises and assignments using statistical software. Students will be expected to complete a major project featuring an analysis of a business decision problem. Among the decision-making techniques covered will be probability theory, Bayes' rule, expected utility, forecasting, simulations, and linear programming.
This course focuses on the making of optimal decisions in business situations where numbers and data are available to evaluate alternative courses of action. This is a hybrid course in which the material is taught both online and in class. Quantitative concepts of decision making will be presented online prior to each class. In class, students will apply those concepts in a lab setting through a variety of exercises and assignments using statistical software. Students will be expected to complete a major project featuring an analysis of a business decision problem. Among the decision-making techniques covered will be probability theory, Bayes' rule, expected utility, forecasting, simulations, and linear programming.
