Decision Science

Syllabus

18 MBA 105: DECISION SCIENCE

Module-I

Statistical Methods

Measures of central tendency and dispersion – Standard Deviation, Simple Correlation, Calculation of correlation coefficient, Probable error, Rank correlation. Regression – Linear regression, Calculation of regression coefficients.

Module-II

Decision Sciences and Role of Quantitative Techniques

Linear Programming: Concept, Formulation and Graphical and Simplex Solution.

Assignment Models: Concept, Flood’s Technique/Hungarian Method, Applications including restricted and multiple assignments.

Transportation Models: Concept, Formulation, Problem types: Balanced, Unbalanced, Minimisation, Maximisation basic initial solution using North West Corner, Least Cost and VAM, and Optimal Solution using MODI.

Module-III

Queuing Theory: Concept, Single Server (M/M/I,), Markov Chains and Simulation Techniques. Markov chains – Applications related to management functional areas.

Decision Theory: Concept, Decision under risk (EMV) and uncertainty.

Game Theory: Concept, 2 zero sum game with dominance, Pure and Mixed Strategy.