ELIZABETHTOWN COLLEGE
QUANTITATIVE TECHNIQUES
BA 248A & BA248B
Fall 2002
BA248A T/Th 8:00 a.m.
BA248B T/Th 9:30 a.m.
Classroom: Nicarry 106
Instructor: Richard G. Stone, Ph.D.
Office: N137, Phone: 361-1284
Office Hours: 11:00 a.m. T & Th.
E-mail address: stonerg@acad.etown.edu
TEXTS:
Stone, Richard G., Quantitative Techniques for Business, Pearson Custom Publishing, (2003)
Weiss, Howard, QM for Windows, Version 2, NOTE: Software supplied with the purchase of the text.
Recommended Reading: Current articles in The Wall Street Journal or other business periodicals for
applications of quantitative techniques.
OBJECTIVES:
1. To learn the basic quantitative techniques of linear programming, network analysis, decision analysis,
forecasting, inventory and MRP analysis.
2. To learn critical skills necessary to use quantitative methods to analyze and recommend solutions for the
assigned cases.
3. To recognize the application of quantitative techniques in business organizations as reported in current
business periodicals.
4. To learn the use of computer programs to solve quantitative business problems.
GRADING:
The final grade for the course will depend upon the numerical scores earned on the three exams, and ten
practice problems and will be weighted as follows:
Examination I
Examination II
Final Examination
Practice Problems
30%
30%
30%
10%
Ten practice problems are assigned to assist you in experientially learning these quantitative techniques. See
note on the reverse of this page about practice problems.
ATTENDANCE:
I will take roll in class to learn each of your names as well as to determine if your class absences are detrimental
to performance on class examinations and class assignments. Examinations are to be taken at regularly
scheduled times with a policy of NO make-up exams except for documented cases of personal illness or
emergencies.
ACADEMIC INTEGRITY:
All students in this class are expected to act in accordance with the “Standards of Integrity” as found on page
203 of the Elizabethtown College Catalog, 2002-2003.
BA248 PRACTICE PROBLEMS
Russell L. Ackoff states:
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 (John Wiley & Sons)
On the basis of the above quotation and in order to earn full credit for practice problems, you need to
follow these three steps:
1.
Solve the problem correctly using a manual or computer solution method as required.
2.
Write a recommendation in clear English for an ordinary manager who has no
knowledge of the model used.
3.
Write three or more limitations or assumptions of the model used that could cause your
recommendation to be misleading or in error.
CLASS SCHEDULE
DATE
Aug. 27
TOPIC
What is Management Science?
READING
Chap. 1
29
Linear Programming
Chap. 2
3
Computer-Based Linear Programming
Chap. 3
5
Julia’s Food Booth
Page 102-103
10
Interpreting Computer Solutions
Computer Printout
12
Linear Programming Applications
Chap 4
17
Formulation of LP Problems
Page 144-161
19
Project Management
Chap. 7, pp. 265-276 # 17, p. 149
24
Project Crashing and Time-Cost Trade-Off Chap. 7, pp. 283-289 #10, p. 302
27
Review for EXAM I
Chapters 1-4 & 7.
1
EXAM I
Chapters 1-4 & 7
3
Review of EXAM I
Learn from your mistakes!
8
Probabilistic Activity Times
Chap. 7, pp. 277-282
10
Project-Crashing with QM for Windows
Chap. 7, pp. 288-289
Oct. 11-14
Fall Break
Relax and Enjoy!
Oct.
15
Attend Monday Classes
17
The Bloodless Coup Concert
Pages 313-314
22
Decision Analysis without Probabilities
Chap. 10, pp. 383-390
24
Decision Making with Probabilities
Chap. 10, pp. 390-398
29
QT at American Airlines
Page 409
31
Forecasting, Time Series Methods
Chap. 11, pp. 441-452
5
Linear and Multiple Regression
Chap. 11, pp. 454-475 # 5, p. 482, Parts a & b only.
8
Review for EXAM II
Chapters 10 & 11
# 40, p. 496,Use QM for Windows.
12
EXAM II
Chapters 10 & 11
Do better!
14
Review of Exam II
Learn from your mistakes!
19
Basic Inventory Models (EOQ)
Chap. 12, pp. 501-512
21
EOQ with Production and Shortages
Chap. 12, pp. 512-518
26
Quantity Discounts
Chap. 12, pp. 520-523
Sept.
Oct.
Nov.
PROBLEM DUE
Julia’s Food Booth
# 25, p. 311, Parts a & b only.
Do well!
# 26, p. 429
# 4, p. 534
Nov. 28-Dec. 1 Thanksgiving Recess
Enjoy a Turkey Dinner!
Dec.
3
Materials Req. Planning (MRP)
pp. 543-578
# 30, p. 538
5
Decision Support Systems
Lecture
# 4, p. 585-586
Dec.
11
15
Tuesday, 7:30 – 10:30 p.m. FINAL EXAM
BA248B 9:30 Section
Thursday 7:30 – 10:30 p.m. FINAL EXAM
BA248A 8:00 Section
Enjoy your Winter Break, I know I will, I’m going skiing!