Quantitative Analysis and Modeling forDecision Making

Students will utilize real-life cases studies in gaining practical application of statistical methodologies including graphic and quantitative tools for decision analysis. Modeling and graphic applications used include linear programming and decision trees using Excel Solver and includes text boxes, spreadsheet layout and design, formulas, functions, and charts of various types. Models include linear programming, probability distributions, decision trees, present value, expected value of information, time series, forecasting, and multiple linear regression. Emphasis is on effective articulation and presentation of reasoning and conclusions. Students will learn how to conduct sensitivity analysis using Solver and will conduct statistical methodologies using the Analysis Tool Pack in Excel. Extensive use of Excel Data Analysis Tool Pack and Excel Solver should be expected. Basic computer skills (MS Windows, Word, and Excel) are assumed.