Business Administration: Decision Analysis

Introduces students to the tools and techniques necessary for effective decision-making in business organizations operating in a complex and dynamic environment. Prerequisites: MATH 019 or MATH 021 with a minimum grade of C-; STAT 141 or STAT 143 or EC 170 with a minimum grade of C-; or PSYS 053 with a minimum grade of C- and PSYS 054 with a minimum grade of C-; Business Administration, Computer Science and Information Systems, and Engineering Management majors; Business Administration Minor; Minimum Sophomore standing.

Prereqs enforced by the system: MATH 019 or MATH 021 and STAT 141 or STAT 143 or EC 170 or PSYS 053 and 054 with a minimum grade of C-; Minimum Sophomore standing; BSAD, CSIS, EMGT majors or BSAD minors only; Open to Degree and CDE Students.

The primary objective of this course is to provide students with a sound conceptual understanding of the role of quantitative methods in the decision-making process by business organizations competing in a complex and dynamic environment. More specifically, this course will (a) introduce students to the science of fact-based, data-driven decision making; (b) expose students to different approaches, support tools, and analytical methods for decision-making; (c) enhance and reinforce students’ analytical skills and their ability to use information; and (d) develop, integrate and reinforce students’ modeling skills (often based on spreadsheet usage) by using such skills in a variety of applications. Topics include: (a) probability & decision analysis; (b) optimization tools and constrained resource allocation; (c) time series analysis, and forecasting; and (d) project scheduling.

This format of this course will mostly consist of a combination of lectures, in-class problems, and in-class computer exercises. Students are required to bring a fully operational laptop (with the required software) to class when requested.

Grades are based on class attendance and participation, short quizzes, homework assignments, and in-class examinations.