COURSE SYLLABUS©2015
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COURSE DETAILS
TERM:
COURSE TITLE:
PREREQUISITES:
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TEXTBOOK /
REQUIRED READING
MATERIALS:
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BUSN 3750/ add section
Quantitative Methods
ACCT 2025, ECON 2020, BUSN 2750
25
None
Enter the textbook(s) and other required or supplemental course materials.
List particularly every title requiring a bookstore order. For help choosing a
textbook, including receiving gratis academic inspection copies, contact the
librarian Benjamin Fasching-Gray at benjamin.fasching-gray@webster.ac.at .
If there is a standard textbook for your course (info in your contract), please
enter that title. If you would like to change this textbook, you must get the
approval from your department head.
COURSE DESCRIPTION
This course introduces the student to the basics of decision making and common errors in decision making.
It will also familiarize the student with a number of decision-making techniques that can be used on realworld problems as well as in other courses in the program.
COURSE OBJECTIVES / LEARNING OUTCOMES
Outcome
Students understand the importance of
quantitative analysis and its role in decisionmaking process.
Students understand basic probability
functions and distributions.
Expectation
Students understand problem-solving and
decision making process through structured
and unstructured problems, causes of poor
decision making, and role of randomness and
variation.
Students can compute event probabilities and
determine underlying probability distribution
that matches the data. Students will know the
role and impact of uncertainties and
probability in the decision making process.
Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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Students can develop pay-off tables and
decision trees, and make appropriate decisions
with or without probability information.
Students can utilize PERT analysis to plan,
manage, and evaluate a large project.
Students can develop mathematical models
for forecasting demand using multiple
techniques.
Students can formulate LP models, find
optimal solutions, interpret output and
perform sensitivity analysis.
Students know both the SQC and non-SQC
approaches to the management of quality.
Students understands the basic issues involved
in inventory management and can compute
EOQ needed for inventory decisions.
Students can determine the characteristics of
a waiting line and or be able to design a
waiting line to match desired performance
level.
Students understand the importance of
quantitative analysis and its role in decisionmaking process.
Students understand basic probability
functions and distributions.
Students can develop pay-off tables and
decision trees, and make appropriate decisions
with or without probability information.
Students will know the concept of expected
value approach, be able to use decision trees
in developing solutions to simple problem, and
the impact of utility in decision making process
where outcomes and payoff are partly
impacted by variables outside decision maker’s
control.
Students can develop a PERT diagram,
determine the critical path, crash activity to
shorten project completion time and estimate
the probability of completing project on time.
Students will understand the basic
mathematical models for forecasting demand
and impact of trend and seasonality on
forecasts.
Students will be able to formulate both
minimization and maximization problems for
Liner Programming solution and will be able to
interpret the results of the computer run.
Students can develop an SQC chart and use it
to evaluate the quality performance of an
ongoing production process.
Students will understand the role of inventory
in competitive strategy and be able to
determine an appropriate inventory policy to
support a specific strategy. The student will
also be able to use EOQ to assist in
determining the specifics of a particular
inventory policy.
Students will know the characteristics of
waiting line and how quantitative methods can
be a valuable tool in service sector where
queuing and waiting time are of prime
importance in high-contact situation.
Students understand problem-solving and
decision making process through structured
and unstructured problems, causes of poor
decision making, and role of randomness and
variation.
Students can compute event probabilities and
determine underlying probability distribution
that matches the data. Students will know the
role and impact of uncertainties and
probability in the decision making process.
Students will know the concept of expected
value approach, be able to use decision trees
in developing solutions to simple problem, and
the impact of utility in decision making process
Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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Students can utilize PERT analysis to plan,
manage, and evaluate a large project.
Students can develop mathematical models
for forecasting demand using multiple
techniques.
Students can formulate LP models, find
optimal solutions, interpret output and
perform sensitivity analysis.
Students know both the SQC and non-SQC
approaches to the management of quality.
Students understands the basic issues involved
in inventory management and can compute
EOQ needed for inventory decisions
Students can determine the characteristics of
a waiting line and or be able to design a
waiting line to match desired performance
level.
where outcomes and payoff are partly
impacted by variables outside decision maker’s
control.
Students can develop a PERT diagram,
determine the critical path, crash activity to
shorten project completion time and estimate
the probability of completing project on time.
Students will understand the basic
mathematical models for forecasting demand
and impact of trend and seasonality on
forecasts.
Students will be able to formulate both
minimization and maximization problems for
Liner Programming solution and will be able to
interpret the results of the computer run.
Students can develop an SQC chart and use it
to evaluate the quality performance of an
ongoing production process.
Students will understand the role of inventory
in competitive strategy and be able to
determine an appropriate inventory policy to
support a specific strategy. The student will
also be able to use EOQ to assist in
determining the specifics of a particular
inventory policy.
Students will know the characteristics of
waiting line and how quantitative methods can
be a valuable tool in service sector where
queuing and waiting time are of prime
importance in high-contact situation.
GRADE BREAKDOWN
(Note: instructors can determine the components of evaluations, below is just an example).
GRADING SCALE:
MIDTERM EXAM:
FINAL EXAM:
QUIZZES/ASSIGNMENTS:
CLASS PROJECT:
PARTCIPATION:
A: 93-100, A-: 90-92, B+: 87-89, B: 83-86, B-: 80-82, C+: 77-79,
C: 73-76, C-: 70-72, D+: 67-69, D: 63-66, F: <63
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COURSE POLICIES / ADDITIONAL INFORMATION
List policies that are specific to your course, such as your policy on acceptance of and/or penalties for late
work, an explanation of how you enforce the attendance policy (for example, whether lateness counts as a
partial absence, or points taken off for each absence or partial absence, etc.), elucidation of what
constitutes cheating, etc. or, use this section for any additional information that pertains to your course.
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WEEKLY SCHEDULE
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Week 2 (enter date/s)
Week 3 (enter date/s)
Week 4 (enter date/s)
Week 5 (enter date/s)
Week 6 (enter date/s)
Week 7 (enter date/s)
Week 8 (enter date/s)
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Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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UNIVERSITY POLICIES
Students are required to inform themselves of WUV academic policies. A full list of these policies is available on the WUV website:
http://webster.ac.at/academic-policies
Academic Honesty & Cheating:
The University is committed to high standards of academic honesty. Students will be held responsible for violations of these standards.
A special Honor Code that the Vienna Student Council has developed applies to students and faculty. Any student found cheating on
any part of the course work (homework assignment, term paper, quiz, exam, etc.) will automatically be given an “F” for the course.
Any student found to be helping another student to cheat will likewise be given an “F” for the course. In each case, the student will
also be put on disciplinary probation for the remainder of her or his stay at Webster. If the student is found to have engaged in
cheating a second time, s/he will be automatically expelled from the University. Faculty members are held responsible for upholding
and enforcing the Honor Code.
Academic Work:
Students are required to save digital or hard-copy files of any and all materials they use for any assignment in any WUV course. Upon
the instructor's request they have to provide complete text documentation for any sources they have used. In every case, should the
assignment or project be shared outside the academic department, the student's name and all identifying information about that
student will be redacted from the assignment or project.
Contact Hours:
Graduate courses are only offered in an 8- week term format and meet 1-time per week for 4 hours. Graduate Mid-term and final
exams sessions are scheduled in 2-hour block sessions in addition to weekly class meeting times (36 total contact hours). Please see
the Graduate Course Schedule/Timetable on the website for specific exam dates/times: http://webster.ac.at/graduate-courseofferings-and-schedules
Undergraduate courses are offered either in term format, which meets for two 2-hour sessions per week for 8 consecutive weeks (32
contact hours), or a 15-week semester format, which meets for two 1.5 – hour sessions for 8 consecutive weeks followed by a break
week (no classes are held) and then for another 7 consecutive weeks. The total number of contact hours for undergraduate semester
courses is thus 45.
Attendance:
Students are expected to attend all class sessions of this course. In the case of unavoidable absence, the student must contact the instructor
and provide written documentation. The student is subject to appropriate academic penalty for incomplete or unacceptable makeup work,
or for excessive or unexcused absences.
Excused absences—based on submitted documentation—must not exceed:
 Four class sessions when the course meets twice a week;
 Two class sessions when the course meets only once a week.
Should the number of excused absences be higher, it is the student's responsibility to withdraw from the course.
In the case of unexcused absences, amounting to:
 Four class sessions when the course meets twice a week;
 Two class sessions when the course meets only once a week;
the instructor must lower the student's grade by one letter grade and inform the student of the action.
Should the number of unexcused absences be higher, the instructor must assign the grade of F and inform the student of the action.
Note: In the case of a mixture of excused and unexcused absences, the instructor’s response must be based on the dominant category.
Student Conduct:
Since every student is entitled to full participation in class or exams without interruption, disruption of class by inconsiderate behavior
is not acceptable. Students are expected to treat the instructor and other students with dignity and respect, especially in cases where
a diversity of opinion arises. Students who engage in disruptive behavior are subject to disciplinary action, including removal from the
course. All and any use of a cell phone is strictly prohibited during class. Students using a cell phone may be sent out of the classroom,
which may result in an unexcused absence. If a calculator is needed in any class, the student must bring a calculator—and not a cell
phone. It is up to the individual instructor to rule on the use of laptops or I-pads. Instructors have the right to prohibit students’ use of
such electronic devices.
Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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