Quantitative Methods for Business Excellence

A Practical Guide to Data-Driven Decision Making

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Introduction to Quantitative Methods for Business

This book provides a comprehensive introduction to quantitative methods for business, focusing on practical applications and real-world examples. It covers key topics such as probability and probability distributions, linear programming, simulation and forecasting, and decision analysis.

Key Features

  • Applications-oriented approach
  • Non-mathematical focus
  • Problem-scenario approach
  • Use of Excel and other tools
  • Updated chapters on sensitivity analysis, distribution and network models, and regression

Topics Covered

  • Probability and Probability Distributions
  • Linear Programming
  • Simulation and Forecasting
  • Decision Analysis

Table of Contents

1. Introduction to Quantitative Methods
- What are Quantitative Methods?
- Importance of Quantitative Methods in Business
- Overview of the Book

2. Probability and Probability Distributions
- Introduction to Probability
- Probability Distributions
- Applications of Probability in Business

3. Linear Programming
- Introduction to Linear Programming
- Graphical Solution Procedures
- Sensitivity Analysis

4. Simulation and Forecasting
- Introduction to Simulation
- Time Series Patterns
- Moving Averages and Exponential Smoothing

5. Decision Analysis
- Introduction to Decision Analysis
- Risk Analysis
- Sensitivity Analysis

6. Case Studies
- Case Study 1: Marketing
- Case Study 2: Finance
- Case Study 3: Operations Management

7. Conclusion
- Summary of Key Concepts
- Future of Quantitative Methods in Business
- Final Thoughts

8. Appendix
- Glossary of Terms
- References
- Index

9. Additional Resources
- Data Sets
- Spreadsheet Templates
- Additional Worked Examples

10. Glossary
- Key Terms
- Definitions
- References

11. Index
- Subject Index
- Author Index
- Company Index

12. References
- Books
- Articles
- Websites

Target Audience

Undergraduate and graduate students in business and management courses

Key Takeaways

  • Understand the importance of quantitative methods in business decision making
  • Learn how to apply quantitative methods in real-world business scenarios
  • Develop skills in data analysis, probability, linear programming, simulation, forecasting, and decision analysis

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