Indian Institute of Management Jammu

POST GRADUATE PROGRAMME IN

MANAGEMENT
NAME OF THE COURSE: QUANTITATIVE
ANALYSIS FOR MANAGEMENT - I
COURSE OUTLINE
TERM I, 2017-2018

Instructors and Contact Information

NAME: PROFESSOR BANERJEE, KAUSTAV

E-MAIL: KAUSTAV@IIML.AC.IN
OFFICE: CHINTAN
OFFICE TEL: 6620

NAME: ..
E-MAIL:
OFFICE:
OFFICE TEL: ...

COURSE CREDIT: 1.0

COURSE DESCRIPTION

To an ever increasing extend, modern management is adopting and applying quantitative techniques
to aid in the process of decision making. The intelligent use of appropriate tools can reduce an otherwise
highly complex problem to one of manageable dimensions. There is a growing body of opinion that
believes that the greatest impact of quantitative approach will not be in the area of problem solving, but
will rather be on problem formulation. It will radically alter the way the managers think about their
problems, how they size them up, gain new insight, communicate with other people about them, and
gather information for solving them. Thus quantitative analysis should have a profound effect on the "art"
of management. With this in mind a series of three courses has been conceived for PGP students during
the first year of their study.

COURSE OBJECTIVE

This course, the first in the series, is designed to develop a familiarity with the application of quantitative
techniques in managerial problem solving and decision making. The course is offered with three primary
objectives. These are:
a) To provide an introduction to the availability and use of some of these techniques;
b) To maximize the value of the informational content of the final solution; and
c) to alert the management students to assumptions inherent in each one of these techniques and
the resulting limitations.

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COURSE LEARNING OUTCOMES

By the end of the course the student should be able to:

1. Understand the concepts of probability, random variable, and various distributions, and their
applications in management;
2. Understand basic Operations techniques and their applications in management.

ALIGNMENT OF INTENDED PROGRAM & COURSE LEARNING OUTCOMES

Sn. Programme Objectives Course Learning (CL)

outcomes
1 To acquire knowledge and skills in key functional areas
CL 1 & 2

2 To internalize the knowledge and skills in key functional areas

CL 1 & 2

3 To integrate and apply business knowledge CL 1 & 2

4 To develop a global perspective CL 1 & 2

5 To inculcate values of professionalism, ethical leadership and CL 1 & 2

social responsiveness
6 To master relational and interpersonal communication skills CL 1 & 2

REQUIRED COURSE MATERIALS AND READINGS

TEXTBOOKS

a) Newbold, Carlson, Thorne: Statistics for Business & Economics, 8th Ed., Pearson India. (The same
book will be used for QAM II course in Term II also)
b) Hillier & Lieberman: Introduction to Operations Research, 9th Ed., McGraw-Hill. (The same book will
be used for QAM III course in Term III also)

EVALUATION

Exam: There will be two examinations mid-term exam covering Statistics topics and end-term
exam covering Operations Research Topics.
Quizzes: There will be two, one in pre-mid-term and one in post-mid-term.
Class participation / assignment

GRADING SCHEME

Mid Term Exam 35%

End Term Exam 35%

Quizzes/ Assignments 30%

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ACADEMIC DISHONESTY

Academic dishonesty or misconduct is cheating that relates to an academic activity. It is a violation of

trust between the Institute and its stakeholders. Plagiarism, fabrication, deception, cheating and sabotage
are examples of unacceptable academic conduct. Please consult the PGP Manual for the section on academic
dishonesty.

COURSE SCHEDULE

Session Topics to be Readings and Assessment Criteria

(60 Min.) covered in the course Book Chapter

15 Discrete and Continuous Random Variables, Chapter 4, Quizzes/ Assignment/ Exams

Expectation and variance of a random Newbold
variable,
Expectation and variance of a function of
random variable(s)
68 Binomial, Poisson, and Negative Binomial Chapter 4, Quizzes/ Assignment/ Exams
Distributions Newbold
9 12 Uniform, Normal, and Exponential Chapter 5, Quizzes/ Assignment/ Exams
Distributions Newbold
13 14 Correlation and Introductory Regression Chapter 11, Quizzes/ Assignment/ Exams
Newbold
15 Introduction to Sampling Chapter 6, Quizzes/ Assignment/ Exams
Newbold
16 17 Formulation of decision problems amenable Chapters 2, 3, Quizzes/ Assignment/ Exams
to linear programming method of analysis Hiller & Liberman
18 21 Solution Methods of linear programming Chapter 4, Hiller Quizzes/ Assignment/ Exams
problems; Graphical Method and Simplex & Liberman
Algorithm
22 23 Post Optimality Analysis Chapter 6, Hiller Quizzes/ Assignment/ Exams
& Liberman
24 25 Shadow Price, Reduced Cost and Duality in Chapter 6, Hiller Quizzes/ Assignment/ Exams
Linear Programming & Liberman
26 27 Transportation/ Assignment Problem Chapter 8, Hiller Quizzes/ Assignment/ Exams
& Liberman
28 29 Goal Programming Chapter 7, Hiller Quizzes/ Assignment/ Exams
& Liberman
30 Review Session