TROY UNIVERSITY
SORRELL COLLEGE OF BUSINESS
EMBA 6641
Decision Theory
Prerequisites
EMBA 5501.
Description
An analysis of the probabilistic and deterministic quantitative techniques available to the business manager involved in the decision making process of the market place. Included is an evaluation of the models and processes now available for problem-solving purposes.
Objectives
On completion of the course, the student should be able to:
1.
Formulate-linear programming problems from narrative expositions of moderately complex business cases.
2.
Interpret the solutions to linear-programming problems.
3.
Explain and apply the probabilistic concepts needed to evaluate risk.
4.
Plan a project using PERT.
5.
Identify the appropriate queuing model and using the technique to analyze waiting line problems and simulation techniques.
6.
Use time series data and causal relationships to forecast business operations.
Purpose
To provide critical skills of quantitative analysis for successful business decision-making in a business environment accommodating quantitative observations. MBA unspecified elective
(non-Accounting).
Approved Texts
Anderson, D. R., Sweeney, D. J., & Williams, T. A. ( 2004 or current ). Quantitative methods for business (9th ed.). Mason, OH: Thomson/South Western.
Render, B., Stair, R. M., & Balakrishnan, N. ( 2003 or current ). Managerial decision modeling
[with spreadsheets and student CD-ROM]
(1st ed.). Upper Saddle River, NJ: Prentice Hall.
Master Syllabi are developed by the senior faculty in each business discipline. This Master Syllabus must be used as the basis for developing the instructor syllabus for this course, which must also comply with the content specifications outlined in the Troy University Faculty Handbook .
The objectives included on this Master Syllabus must be included among the objectives on the instructor’s syllabus, which may expand upon the same as the instructor sees fit. The statement of purpose seeks to position the course properly within the curriculum and should be consulted by faculty as a source of advisement guidance. Specific choice of text and other details are further subject to Program Coordinator guidance.
1 August 2005

Master Syllabus: QM 6641 2
Winston, W. L., & Albright, S. C. ( 2005 or current ). Practical management science:
Spreadsheet modeling and applications (2nd ed.). Mason, OH: Thomson/South-Western.
Supplements
Chernoff, H., & Moses, L. E. ( 1987 ). Elementary decision theory . Mineola, NY: Dover.
Kaplan, M. ( 1998 ). Decision theory as philosophy . New York, NY: Cambridge University Press.
Troy State University Faculty Handbook (2001): Section 3.8.2.8 [extract]—22 essential elements of the syllabus (somewhat modified for space): a. Course title b. Course number c. Term d. Instructor e. Prerequisites f. Office hours g. Class days, times h. Classroom location i. Office location j. Office telephone k. Course description, objectives l. Text(s) m. Other materials n. Grading methods, criterion weights, make-up policy, mid-term grade reports o. Procedure, course requirements p. General supports
(computer works, writing center) q. Daily assignments, holidays, add/drop
& open dates, dead day, final exam r. Additional services
(Americans with
Disabilities Act, other statements) s. Absence policy t. Incomplete-work policy u. Cheating policy v. Specialization requirements
(certification, licensure, teacher competencies)