Quantitative Tools for Qualified Managerial Decision Making

About

Subjects covered:

1) Problem solving and quantitative analysis for decision making, model development, data preparation, model solution, report generation, implementation, Management science technique

2) Linear programming. Problem formulation, economical model, mathematical model, solution (graphical, software), sensitivity analysis and interpretation of solution. Linear programming applications (marketing, finance, production management, transportation). Solution of LP models - the simplex method, distribution method.

3) Network models. Shortest route problem, minimal spanning tree problem, maximal flow problem. Project scheduling - CPM/PERT (the concept of critical path, determining of critical path, time slacks), time-cost analysis.

4) Waiting line models (queuing theory). Structure of waiting line system (single-channel waiting line, distribution of arrivals, distribution of service time, queue discipline, steady-state situation, multiple-channel waiting line models, economic analysis of waiting lines.

Course leader

• RNDr. Bedřich Zimola, Ph.D. (summerschools@utb.cz)

Target group

Participants with basics of Mathematics, Linear Algebra and Statistics.

Fee info