MILLERSVILLE UNIVERSITY OF PENNSYLVANIA
BUAD 308 Quantitative Methods for Business
Fall 2010
MWF @ 10:00
Classroom: MCCOM 303
Office: MCCOM 362
E-mail: stonerg@etown.edu
Professor: Richard G. Stone, Ph.D.
Office Hours: MWF @ 11:00 a.m.
Millersville Office Phone: 717- 871-5524
Elizabethtown Office Phone: 717-361-1284
Elizabethtown Home Phone: 717-361-8080
COURSE DESCRIPTION AND OBJECTIVES:
This course introduces management science techniques to facilitate quantitative problem solving as found in
business situations. The emphasis is on developing your analytical skills by solving managerial cases and
problems using quantitative and computer-based models and presenting the results in a clear manner to clients
and colleagues. Topics covered will be linear programming, transportation/assignment problems, project
management techniques (CPM/PERT), decision analysis, quantitative and qualitative forecasting, inventory
management, materials requirement planning (MRP), enterprise resource planning (ERP), decision support
systems (DSS) and expert systems (ES). Three credit hours for this course.
PREREQUISITES:
1. MATH 235, Survey of Statistics.
TEXT:
Stone, Richard G., Quantitative Methods for Business, Pearson Custom Publishing, 2008.
ISBN: 053676106X
Weiss, Howard, POM/QM for Windows, NOTE: This software is supplied with the text.
CLASS PREPARATION
You are expected to study the assigned material and attempt to solve the assigned practice problems so that
questions about the problem can be answered in class. In addition to the text material, I will present additional
lectures on PROJECT software, multiple regression using EXCEL, enterprise resource planning (ERP),
decision support systems (DSS) and expert systems (ES) Since class discussion of cases and problems are vital
for success in this course, you can understand the importance of regular class attendance. You should always
bring your textbook, a calculator, practice problem questions, and computer printouts as assigned to class.
EXAMINATIONS:
Examination I
Examination II
Final Examination
Practice Problems
Attendance
Total
20%
20%
20%
20%
20%
100%
NOTE: Any documented learning or physical disability will be accommodated.
ACADEMIC INTEGRITY:
Any violation of the University’s Academic Honesty Policy will be treated in accordance with the University’s
guidelines without exception.
PRACTICE PROBLEMS:
I once had a brilliant student, now a well-known professor, who wrote a highly technical
thesis. I asked him to assume that I was an ordinary corporate manager. Would he
explain his thesis briefly?
He went to the blackboard and began to cover it with mathematical symbols. I stopped
him to remind him that I was an ordinary manager, not a mathematician. After a long
pause he said, "I don't understand what I've done well enough to explain it in nontechnical language."
Unless people can express themselves well in ordinary English, they don't know what
they are talking about.
--Management in Small Doses by Russell L. Ackoff (John Wiley & Sons)
On the basis of the above quotation and in order to earn full credit, you need to follow these three
steps:
1.
2.
3.
Solve the problem correctly using a manual or computer solution method as
required.
Write a recommendation in clear English for an ordinary manager who has no
knowledge of the model used.
Write three or more limitations or assumptions of the model used that could cause
your answer to be in error.
ATTENDANCE:
I will take attendance in class to learn each of your names as well to determine if your class absences are
detrimental to your learning. Examinations are to be taken at the scheduled times with a policy of NO make-up
exams except for documented cases of personal illness or emergencies.
GRADING:
Course Average:
95 – 100%
90 – 94
87 – 89
83 – 86
80 – 82
77 – 79
73 – 76
70 – 72
67 – 69
63 – 66
60 – 62
Less than 60
A
AB+
B
BC+
C
CD+
D
DF
Class Absences
0
100%
1
95%
2
93%
3
88%
4
85%
5
82%
6
78%
7
75%
8
72%
9
68%
10
65%
11
60%
TENTATIVE COURSE SCHEDULE
Session
Jan. 18
20
22
25
27
29
Feb.
Mar.
1
3
5
Reading
No Class
None
pp. 1 – 27
Linear Programming
Computer-Based Linear Programming
Julia’s Food Booth Case
pp. 29 – 71
pp. 73 – 109
pp. 110 – 111
Interpreting Computer Solutions
Linear Programming: Modeling Examples
Formulation of LP Problems 9 – 11
Computer Printout
pp. 113 - 151
pp. 153 – 154
Your responsibility!
Be here!
Formulate Equations
Julia’s Food Booth, p.110-111
8
10
12
Project Management (CPM)
pp. 333 – 351
Probabilistic Activity Times (PERT)
pp. 352 – 359
Project Crashing and Time–Cost Trade-off pp.366 – 371
15
17
19
Review for EXAM I
EXAM I
Postmortem for EXAM I
pp. 29-155&333-371 # 29, pp. 398, parts a. & b.
pp. 29-155&333-371 Do well!
pp. 29-155&333-371 Learn!
22
24
26
Decision Analysis
Decision Trees
Forecasting, Time Series Methods
pp. 404 – 418
pp. 418 – 427
pp. 503 – 515
1
3
5
March 6 to 14
Apr.
Topic
Martin Luther King, Jr. Birthday
Introduction to Course and Requirements
What is Management Science?
# 12, p. 154
# 10, p. 387
# 26, p. 450
MAD and Multiple Regression Forecasting pp. 521 – 543
POM/QM and EXCEL Forecasting
pp. 533 - 540
#5, p. 545
Review for EXAM II
pp.404-427&503-540 #44, p. 561 Use POM.
SPRING BREAK
NO CLASSES
Sun, Ski, or Surf!
15
17
19
EXAM II
Postmortem for EXAM II
Inventory Management
pp.404-427&503-540 IMPROVE!
pp.404-427&503-540 Learn
pp. 567 – 572
22
24
26
Basic EOQ Model
EOQ with Production
EOQ with Shortages
pp. 573 - 579
pp. 579 – 582
pp. 582 - 586
29
31
2
EOQ Analysis on Computer
Quantity Discounts
Good Friday
pp. 586 -587
pp. 587 - 591
NO CLASS
Quantity Discount with QM
Reorder Point and Safety Stocks
Variable Demand and Lead Time
pp. 591 -592
pp. 592 - 598
pp. 598 – 6
5
7
9
# 6, p. 602-603
# 30, p.606 & 607
May
12
14
16
Materials Req. Planning (MRP)
An MRP Application
Computer Based MRP
pp. 613 - 621
pp. 621 – 638
Computer Demonstration
19
21
23
Enterprise Resource Planning (ERP)
Enterprise Resource Planning (ERP)
Lean Operations and JIT
pp.638 – 642 & Lecture
Chapter 14 Handout
Chapter 15 Handout
26
28
30
Decision Support Systems (DSS)
Expert Systems (ES)
Quantitative Methods in your career
DSS Handout
ES Handout
Class Discussion
Review for FINAL
pp. 567 – 642 & Handouts
3
MRP Handout Prob.
Final Exam Schedule
Friday,
May 7, 2009
BUAD 308.0
8:00 to 10:00 am
Enjoy Your Summer!
MCCOM 303