QUANTITATIVE TECHNIQUES LINEAR PROGRAMMING Business problems and their solution through linear programming: Overview of LP; construction

n 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) 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 CALCULUS Differential calculus: Rules of differentiation through formula (Algebraic, exponential, and logarithmic) 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) Partial differentiation: Rules of partial differentiation and their application for estimating marginal utility, cross elasticities, and marginal product. MATRICES, DETERMINANTS AND MARKOV ANALYSIS Definition - operations Types of matrices Matrix operations addition, subtraction, multiplication and division. Determinants Inverse method Input output analysis 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.

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. PERT/CPM Construction of Network diagram Types of Floats: Total, Free &Interfering floats Crashing for determination of optimum duration of project.

RECOMMENDED BOOKS Introduction to Business Mathematics (by) V. K. Kapoor (Sultan Chand & Sons) Quantitative Techniques in Management (by) N. D Vohra (TMH). Quantitative Analysis for Management (by) Barry Render and Ralph Stair, Jr. An Introduction to Management Science (by) Anderson, Sweeney and Williams
Quantitative Analysis for Management Applications by L N Aggarwal and Parag Diwan (Global Business Press)