Quantitative methods for decision makers:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
London
Pitman
1994
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XII, 434 S. graph. Darst. |
| ISBN: | 0273039385 |
Staff View
MARC
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| 245 | 1 | 0 | |a Quantitative methods for decision makers |c Mik Wisniewski |
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| 650 | 4 | |a Decision making |x Mathematical models | |
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Record in the Search Index
| _version_ | 1804123260105785345 |
|---|---|
| adam_text | Contents
J Introduction 1
The use of quantitative techniques by business 2
The role of quantitative techniques in business 4
Models in quantitative decision making 6
Use of computers 7
Using the text 8
O Tools of the trade 10
Learning objectives 10
Some basic terminology 10
Measurement 12
Fractions, proportions, percentages 13
Rounding and significant figures 15
Common notation 16
Powers and roots 18
Logarithms 20
Summation and factorials 22
Equations 23
Graphs 26
Real and money terms 29
Exercises 30
Q Data presentation methods 33
Learning objectives 33
Frequency distributions 35
Percentage and cumulative frequencies 38
Histograms 38
Frequency polygons 41
Ogives 42
Lorenz curves 43
Bar charts 45
Vi CONTENTS Pie charts 47
Time series graphs 48
Z charts 50
Scatter diagrams 53
General principles of graphical presentation 56
Application: Cowie Health Centre, Scotland 57
Exercises 60
A Management statistics 66
Learning objectives 66
A business example 66
Why are statistics needed? 67
Measures of average: the arithmetic mean 68
Measures of average: the median 70
Measures of variability 71
Using the statistics 81
Calculating statistics for aggregated data 83
Index numbers 87
Application: Halifax Building Society: house price index 96
Exercises 100
C Probability and probability distributions 105
Learning objectives 105
Terminology 106
The multiplication rule 109
The addition rule 111
A business application 112
Probability distributions 115
The Binomial distribution 118
The Normal distribution 125
Application: ICI Pharmaceuticals 134
Exercises 137
Z2 Decision making under uncertainty 141
Learning objectives 141
The decision problem 141
The Maximax criterion 143
The Maximin criterion 144
The Minimax regret criterion 144
CONTENTS vii
Decision making using probability information 146
Risk 147
Decision trees 147
The value of perfect information 152
Application: Gulf Oil 154
Exercises 158
*7 Market research and statistical inference 161
Learning objectives 161
Populations and samples 161
Sampling distributions 163
The Central Limit Theorem 164
Characteristics of the sampling distribution 166
Confidence intervals 167
Other confidence intervals 169
Confidence intervals for proportions 170
Interpreting confidence intervals 172
Hypothesis tests 172
Tests on a sample mean 181
Tests on the difference between two means 183
Tests on two proportions or percentages 186
Tests on small samples 188
Inferential statistics using a computer package 190
Application: Queen s College, Taunton 192
Exercises 196
O Quality control and quality management 199
Learning objectives 199
The importance of quality 199
Techniques in quality management 200
Statistical process control 201
Control charts 203
Control charts for attribute variables 207
Pareto charts 209
Ishikawa diagrams 210
Application: Hewlett Packard 213
Exercises 215
Viii CONTENTS
Q Forecasting I: moving averages and time series 217
Learning objectives 217
The need for forecasting 217
Alternative approaches to forecasting 219
Trend projections 222
Time series models 235
Application: retail supermarket, UK 246
Exercises 249
¦i A Forecasting II: simple linear regression 255
Learning objectives 255
The principles of simple linear regression 255
The correlation coefficient 260
The line of best fit 263
Using the regression equation 266
Further statistical evaluation of the regression equation 268
Using computer output 272
Extensions to simple linear regression 273
The forecasting process 279
Application: British Gas 282
Exercises 286
¦j i Linear programming 290
Learning objectives 290
The business problem 290
Formulating the problem 291
Graphical solution to the LP formulation 294
Sensitivity analysis 300
Computer solutions 306
Assumptions of the basic model 308
Dealing with more than two variables 309
Extensions to the basic LP model 311
Application: Blue Bell, Inc. 312
Exercises 314
I O Stock control 317
Learning objectives 317
The stock control problem 317
Costs involved in stock control 318
CONTENTS ix
The stock control decision 320
The economic order quantity model 323
The reorder cycle 324
Assumptions of the EOQ, model 324
Incorporating lead time 325
Classification of stock items 327
MRP and JIT 330
Application: Unipart 331
Exercises 334
i Q Project management 337
Learning objectives 337
Characteristics of a project 337
Project management 338
Business example 339
Network diagrams 343
Developing the network diagram 348
Using the network diagram 353
Gantt charts 354
Uncertainty 355
Project costs and crashing 359
Application: Central Regional Council 361
Exercises 365
¦i A Simulation 370
Learning objectives 370
The principles of simulation 370
Business example 373
Developing the simulation model 375
A simulation flowchart 376
Using the model 378
Application: University Hospital of Wales 388
Exercises 390
1 C Financial decision making 396
Learning objectives 396
Interest 396
Nominal and effective interest 400
Present value 401
X CONTENTS
Investment appraisal 403
Replacing equipment 408
Application: Tomco Oil Inc. 413
Exercises 416
j £ Conclusion 419
Appendices
A Binomial distribution 421
B Areas in the tail of the Normal distribution 426
C Areas in the tail of the t distribution 427
Bibliography 428
Index 431
|
| any_adam_object | 1 |
| author | Wisniewski, Mik 1950- |
| author_GND | (DE-588)170652637 |
| author_facet | Wisniewski, Mik 1950- |
| author_role | aut |
| author_sort | Wisniewski, Mik 1950- |
| author_variant | m w mw |
| building | Verbundindex |
| bvnumber | BV008931256 |
| callnumber-first | H - Social Science |
| callnumber-label | HD69 |
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| callnumber-search | HD69.D4 |
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| ctrlnum | (OCoLC)832310016 (DE-599)BVBBV008931256 |
| dewey-full | 658.4033 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.4033 |
| dewey-search | 658.4033 |
| dewey-sort | 3658.4033 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| indexdate | 2024-07-09T17:26:56Z |
| institution | BVB |
| isbn | 0273039385 |
| language | English |
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| physical | XII, 434 S. graph. Darst. |
| publishDate | 1994 |
| publishDateSearch | 1994 |
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| publisher | Pitman |
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| spelling | Wisniewski, Mik 1950- Verfasser (DE-588)170652637 aut Quantitative methods for decision makers Mik Wisniewski 1. publ. London Pitman 1994 XII, 434 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Kwantitatieve methoden gtt Management gtt Mathematisches Modell Decision making Mathematical models Statistical decision Quantitative Methode (DE-588)4232139-6 gnd rswk-swf Entscheidungsfindung (DE-588)4113446-1 gnd rswk-swf Statistische Entscheidungstheorie (DE-588)4077850-2 gnd rswk-swf Statistische Entscheidungstheorie (DE-588)4077850-2 s DE-604 Entscheidungsfindung (DE-588)4113446-1 s Quantitative Methode (DE-588)4232139-6 s 1\p DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005889747&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Wisniewski, Mik 1950- Quantitative methods for decision makers Kwantitatieve methoden gtt Management gtt Mathematisches Modell Decision making Mathematical models Statistical decision Quantitative Methode (DE-588)4232139-6 gnd Entscheidungsfindung (DE-588)4113446-1 gnd Statistische Entscheidungstheorie (DE-588)4077850-2 gnd |
| subject_GND | (DE-588)4232139-6 (DE-588)4113446-1 (DE-588)4077850-2 |
| title | Quantitative methods for decision makers |
| title_auth | Quantitative methods for decision makers |
| title_exact_search | Quantitative methods for decision makers |
| title_full | Quantitative methods for decision makers Mik Wisniewski |
| title_fullStr | Quantitative methods for decision makers Mik Wisniewski |
| title_full_unstemmed | Quantitative methods for decision makers Mik Wisniewski |
| title_short | Quantitative methods for decision makers |
| title_sort | quantitative methods for decision makers |
| topic | Kwantitatieve methoden gtt Management gtt Mathematisches Modell Decision making Mathematical models Statistical decision Quantitative Methode (DE-588)4232139-6 gnd Entscheidungsfindung (DE-588)4113446-1 gnd Statistische Entscheidungstheorie (DE-588)4077850-2 gnd |
| topic_facet | Kwantitatieve methoden Management Mathematisches Modell Decision making Mathematical models Statistical decision Quantitative Methode Entscheidungsfindung Statistische Entscheidungstheorie |
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