QUANTITATIVE TECHNIQUES 1.

DECISION MAKING AND QUANTITATIVE TECHNIQUES Problem solving and decision making Quantitative analysis and decision making Steps in quantitative analysis Methods of cost, revenue, and profit Quantitative methods in practice 2. INTRODUCTION TO LINEAR PROGRAMMING Business problems and their solution through linear programming: Overview of LP; construction of a LP problem and model. Solution to a linear programming problem: Graphical method ( including peculiar situations); Simplex method (for both unrestricted variable and negative variables, included) in case of (a) maximization with less than/ equal to situation, (b) minimization with greater than/ equal to case, (c) maximization with mixed type, and (d) minimization with mixed type. Duality problem: Economic interpretation of duality; derivation of a dual solution and vice-versa for a linear programming problem( of all kinds) 3. MANAGERIAL APPLICATIONS OF LINEAR PROGRAMMING Marketing problems and their solutions through linear programming HR problems and their solutions through L.P. Production and inventory issues and their resolution Financial allocations and L.P. solutions 4. DIFFERENTIAL CALCULUS Differential calculus: Rules of differentiation through formula (Algebraic, exponential, and logarithmic) 5. APPLICATIONS OF DIFFERENTIAL CALCULUS TO BUSINESS PROBLEMS Applications in the field of demand analysis, elasticity of demand, supply analysis, market equilibrium (calculation of price and equilibrium quantity); cost analysis, and revenue analysis (including cases of cost minimization and profit maximization) 6. PARTIAL DIFFERENTIATION Partial differentiation: Rules of partial differentiation 7. APPLICATIONS OF PARTIAL DIFFERENTIATION Estimating marginal utility Cross elasticies Marginal product estimates.

8. MATRICES AND DETERMINANTS-1 Definition Types of matrices Matrix operations addition, subtraction, multiplication and division. 9. MATRICES AND DETERMINANTS-2 Calculation of value of determinant Adjoint of a matrix Row operations Inverse operations Applications of matrices to business problems Input-output analysis 10. MARKOV ANALYSIS Principle and its application in business problems, namely: Prediction of market shares for future periods and at equilibrium. Evaluation of marketing strategies for improvement in market shares & evaluation of repair & maintenance policies. Prediction of bad loans. 11. PROBABILITY Basic probability concepts and probability rules marginal/simple probability, conditional and joint probability. Revising prior probability Bayers theorem of posterior probability. The concept of probability distributions. Application of probability concepts in business/management. 12. PROBABILITY DISTRIBUTIONS Random variables Discrete random variables Binomial probability distribution Poisson probability distribution Continuous random variables Normal probability distribution 13. APPLICATION OF PROBABILITY CONCEPTS IN BUSINESS Decision making and probability analysis 14. PROJECT SCHEDULING:PERT/CPM Construction of Network diagram Types of Floats: Total, Free &Interfering floats Crashing for determination of optimum duration of project. 15. REVIEW OF QUANTITATIVE TECHNIQUES

Mock test

Reference books

Andersen, Sweeney, and Williams: An Introduction to Management Science (South-Western: 2005): Chs.1-6 N.D.Vohra: Quantitative Techniques in Management (THM: Latest edition): Relevant chapters