This book has been developed with a focus on the need to demystify the subject and make it easy for students to grasp the principles and details involved, and make it easily understandable to beginners exposed to the subject for the first time. An attempt has been made to explain things in a logical progression, in the simplest possible way so that neophytes may quickly grasp the concepts and methodology. A novel approach in the book is the illustrative use of computers with TORA package, as a problem-solving tool. In actual practice, situations arise with large and complex problems that are difficult to solve. At such times, using computers to solve problems gives fast and more accurate results. The chapters are arranged so as to progressively explain the workings of various models in actual practice through step-by-step procedures that so simplify and solve them, that even students from a non-mathematics academic background will grasp them quickly. Linear programming, the most powerful tool for managerial decision-making is covered elaborately, including thorough discussion of various LP methods and LP solutions, Duality in LP problems, sensitivity analysis, etc. Models in the book also use Linear Programming to reach solutions including those relating to transportation and transshipment, assignment, and Game Theory&illustrated with screen-shots of a computer with a TORA package. Readers whether students, business executives, managers, researchers and academicians will find that the insights and knowledge obtained from the book will stand them in good stead in both academic as well as occupational pursuits.
This book focuses on the use of quantitative methods for both business and management, helping readers understand the most relevant quantitative methods for managerial decision-making.
The book also serves as an authoritative reference and self-study guice for financial and business professionals, as well as for readers looking to reinforce their analytical skills.
This book helps an understanding of model build
This book is especially relevant to undergraduates, postgraduates and researchers studying quantitative techniques as part of business, management and finance.
Simulation Applications . Simulation is a quantitative technique developed for studying alternative courses of action by building a model of that system and then conducting a series of repeated trial and error experiments to predict the ...
The book'sstep-by-step approach, use of Excel, and downloadable Exceltemplates make the text highly practical.
The book is prepared with utmost care and rules out the necessity of referring any other book as it is self-contained. This book will surely prove to be a good reference book for both the students and teachers.
STANDARD DEVIATION Measure of Dispersion by using Mean Deviation is mathematically not approved because it ignores ' t ' and ' - ' signs of the deviations and assumes all the deviations are positive . Therefore mean deviation is not a ...
Les Oakshott’s clear and friendly writing style guides students from basic statistics, through to advanced topics, such as hypothesis testing and time series, as well as operational research techniques such as linear programming and ...
Quantitative Techniques in Management