powered by
Center for Curriculum and Transfer Articulation
Quantitative Methods in Business
Course: GBS220

First Term: 2016 Summer
Lecture   3.0 Credit(s)   3.0 Period(s)   3.0 Load  
Subject Type: Occupational
Load Formula: S - Standard Load

Description: Business applications of quantitative optimization methods in operations management decisions.

MCCCD Official Course Competencies
1. Identify business applications and problem situations where quantitative methods and modeling are useful for decision making. (I)
2. Model, solve, and interpret linear programming problems using computer software. (II)
3. Solve basic business problems using discrete and continuous probability distributions. (III)
4. Model, solve, and interpret Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM) type problems. (IV)
5. Develop total cost and Economic Order Quantity (EOQ) models for specific inventory systems. (V)
6. Model, solve, and interpret a decision problem involving uncertainty, using decision theory techniques. (VI)
MCCCD Official Course Outline
I. Importance of Quantitative Methods in Business
II. Linear Programming
   A. Computer Solution
      1. General Optimization Problems
      2. Transportation Problems
      3. Assignment Problems
   B. Sensitivity Analysis
III. Probability Distributions
   A. Random Variables
   B. Discrete Random Variables
   C. The Normal Probability Distribution
   D. Use in Business Simulations
IV. Program Evaluation and Review Technique/Critical Path Method (PERT/CPM)
   A. Networks
   B. Critical Path
   C. Probability of Completion
V. Inventories
   A. Total Cost Model
   B. Economic Order Quantity (EOQ) Model
   C. Deterministic and Probabilistic Models
VI. Decision Theory
   A. Maxi-min
   B. Maxi-max
   C. Mini-max regret
   D. Decision Trees
MCCCD Governing Board Approval Date: February 23, 2016

All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.