Maximum Marks: 100
Semester Examination: 70
Internal Assessment: 30
Mathematical basis of Managerial decisions – An overview; Nature and Scope of Quantitative methods in management; Scientific approach to Quantitative techniques; Functions and their managerial application (linear & quadratic functions); Concept of Derivative of functions and its managerial applications for finding maxima and minima (functions of single variable only); Game Theory: Zero
sum games – Pure and mixed strategies (matrices reducible to 2×2)
Basic concepts of Probability, applications of addition rule and multiplication rule of probability with emphasis on Bayes’ theorem; Elementary characteristics and simple situation applications of Bionomial, Poisson and Normal Probability Distributions; Decision theory: criteria for decisions under uncertain and probabilistic kinds of decision making environments;
Linear Programming: Concept and formulation/ structuring of Linear programming problems; Graphical Method to Linear programming problems (Maximization and Minimization cases), Simplex method to linear programming problems, Big M method; Transportation problem: Initial basic feasible solution methods, Modified approximation method for finding optimal solutions to transportation problems; Introductory concepts in Assignment problems – Hungarian assignment method for optimal assignment;
Introductory concepts in network analysis: Programme Evaluation and Review Technique (PERT) / Critical Path Method (CPM) and their managerial applications; Computations in PERT networksfinding earliest times, latest times and floats for events and activities; Probability considerations in PERT networks; Elementary PERT/ CPM – Cost Analysis, Time-cost tradeoff in network analysis; Queuing theory: Elementary characteristics and simple situation applications.
Suggested Readings:
1. Statistics for Behavioural and Social Scientists/Chadha, NK/1996
Reliance Publishing House,Delhi
2. Business Statistics/Gupta, SP and Gupta, MP/1997 Sultan Chand, New Delhi
3. Basic Statistics for Business & Economics/Kazmier L.J & Pohl,
NF/1988 McGrawHill, New York
4. Statistics for Management/Levin Richard I & RubinDavid S/1995
Prentice Hall Inc
5. Linear Programming and Decision Making/Narag, AS/1995 Sultan Chand, New Delhi
6. Fundamentals of Operations Research/Sharma JK/2001 Macmillian, New Delhi
7. Quantitative techniques in Management/Vohra, N.D., Tata McGrawHill, New Delhi
8. Mathematics for Management/ Ragavachari, M. Tata McGrawHill, New Delhi
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