COURSE CODE: BUS 800
COURSE TITLE: QUANTITATIVE ANALYSIS
COURSE GUIDE
1
,1.0 INTRODUCTION
BUS 800: Quantitative Analysis is a two credit course for students offering M.Sc.
Business Administration in the School of Management Science.
The course will consist of sixteen (16) units, that is, four modules of four (4) units for
each module. The material has been developed to suit undergraduate students in
Business Administration at the National Open University of Nigeria (NOUN) by
using an approach that treats Quantitative Analysis.
A student who successfully completes the course will surely be in a better position to
manage operations of organizations in both private and public organizations.
The course guide tells you briefly what the course is about, what course materials
you will be using and how you can work your way through these materials. It
suggests some general guidelines for the amount of time you are likely to spend on
each unit of the course in order to complete it successfully. It also gives you some
guidance on your tutor-marked assignments. Detailed information on tutor-marked
assignment is found in the separate assignment file which will be available in due
course.
2.0 WHAT YOU WILL LEARN IN THIS COURSE
This course will introduce you to some fundamental aspects of Quantitative
Analysis, set theory; basic concepts in probability; probability distributions; decision
theory; forecasting models and techniques, linear programming (graphs and simplex
methods); introduction to operations research; network models, simulation, Game
Theory, Project Management, Inventory Control, Sequencing, Modelling in OR and
Cases for OR Analysis
3.0 COURSE AIMS
The course aims, among others, are to give you an understanding of the intricacies
of Quantitative Analysis and how to apply such knowledge in making real life
decisions, and managing production and operations units in both private and public
enterprises.
2
,The Course will help you to appreciate Rationale behind Quantitative Analysis,
Elements of Decision Analysis, Types of Decision Situations, Decision Trees,
Operational Research, Approach to Decision Analysis, System Analysis, Modelling
in OR, Simulation, Cases for OR Analysis, Mathematical Programming, Game
Theory, Inventory Control and Sequencing.
The aims of the course will be achieved by your ability to:
Identify and explain Quantitative Analysis;
• Identify and use various criteria for solving problems in different decision
situations;
• discuss the decision tree and solve problems involving the general decision
tree and the secretary problem;
• Trace the history and evolution of operation research OR;
• Explain the different approaches to decision analysis;
• discuss the concept of system analysis and identify the various categories of
systems;
• Describe model and analyse the different types of models;
• Defined simulation and highlight the various types of simulation models;
Solve different types of problems involving Linear Programming; Apply
various techniques in solving gaming problems.
• Identify and solve problems using the sequencing techniques.
4.0 COURSE OBJECTIVES
By the end of this course, you should be able to:
• Identify and explain Quantitative Analysis;
• Identify and use various criteria for solving problems in different decision
situations;
• discuss the decision tree and solve problems involving the general decision
tree and the secretary problem;
• Trace the history and evolution of operation research OR;
• Explain the different approaches to decision analysis;
• discuss the concept of system analysis and identify the various categories of
systems;
• Describe model and analyse the different types of models;
3
, • Defined simulation and highlight the various types of simulation models;
Solve different types of problems involving Linear Programming; Apply
various techniques in solving gaming problems.
• Solving inventory problem
• Identify and solve problems using the sequencing techniques.
5.0 WORKING THROUGH THIS COURSE
To complete this course, you are required to read all study units, attempt all the tutor
marked assignments at the end of each study unit. You would need to study carefully,
the principles and concepts guiding each of the topics in the course in this material
Quantitative Analysis provided by the National Open University of
Nigeria (NOUN). You will also need to undertake practical exercises for which you
need access to a personal computer running a suitable Windows for which you have
command over. Each unit contains self-assessment exercises, and at certain points
during the course, you will be expected to submit assignments. At the end of the
course is a final examination. The course should take you about a total of 20 weeks
to complete. Below are the components of the course, what you have to do, and how
you should allocate your time to each unit in order to complete the course successfully
on time.
6.0 COURSE MATERIALS
Major components of the course are:
• Course Guide
• Study Units
• Textbooks
• Assignment file
7.0 STUDY UNITS
The study units in this course are as follows:
4
COURSE TITLE: QUANTITATIVE ANALYSIS
COURSE GUIDE
1
,1.0 INTRODUCTION
BUS 800: Quantitative Analysis is a two credit course for students offering M.Sc.
Business Administration in the School of Management Science.
The course will consist of sixteen (16) units, that is, four modules of four (4) units for
each module. The material has been developed to suit undergraduate students in
Business Administration at the National Open University of Nigeria (NOUN) by
using an approach that treats Quantitative Analysis.
A student who successfully completes the course will surely be in a better position to
manage operations of organizations in both private and public organizations.
The course guide tells you briefly what the course is about, what course materials
you will be using and how you can work your way through these materials. It
suggests some general guidelines for the amount of time you are likely to spend on
each unit of the course in order to complete it successfully. It also gives you some
guidance on your tutor-marked assignments. Detailed information on tutor-marked
assignment is found in the separate assignment file which will be available in due
course.
2.0 WHAT YOU WILL LEARN IN THIS COURSE
This course will introduce you to some fundamental aspects of Quantitative
Analysis, set theory; basic concepts in probability; probability distributions; decision
theory; forecasting models and techniques, linear programming (graphs and simplex
methods); introduction to operations research; network models, simulation, Game
Theory, Project Management, Inventory Control, Sequencing, Modelling in OR and
Cases for OR Analysis
3.0 COURSE AIMS
The course aims, among others, are to give you an understanding of the intricacies
of Quantitative Analysis and how to apply such knowledge in making real life
decisions, and managing production and operations units in both private and public
enterprises.
2
,The Course will help you to appreciate Rationale behind Quantitative Analysis,
Elements of Decision Analysis, Types of Decision Situations, Decision Trees,
Operational Research, Approach to Decision Analysis, System Analysis, Modelling
in OR, Simulation, Cases for OR Analysis, Mathematical Programming, Game
Theory, Inventory Control and Sequencing.
The aims of the course will be achieved by your ability to:
Identify and explain Quantitative Analysis;
• Identify and use various criteria for solving problems in different decision
situations;
• discuss the decision tree and solve problems involving the general decision
tree and the secretary problem;
• Trace the history and evolution of operation research OR;
• Explain the different approaches to decision analysis;
• discuss the concept of system analysis and identify the various categories of
systems;
• Describe model and analyse the different types of models;
• Defined simulation and highlight the various types of simulation models;
Solve different types of problems involving Linear Programming; Apply
various techniques in solving gaming problems.
• Identify and solve problems using the sequencing techniques.
4.0 COURSE OBJECTIVES
By the end of this course, you should be able to:
• Identify and explain Quantitative Analysis;
• Identify and use various criteria for solving problems in different decision
situations;
• discuss the decision tree and solve problems involving the general decision
tree and the secretary problem;
• Trace the history and evolution of operation research OR;
• Explain the different approaches to decision analysis;
• discuss the concept of system analysis and identify the various categories of
systems;
• Describe model and analyse the different types of models;
3
, • Defined simulation and highlight the various types of simulation models;
Solve different types of problems involving Linear Programming; Apply
various techniques in solving gaming problems.
• Solving inventory problem
• Identify and solve problems using the sequencing techniques.
5.0 WORKING THROUGH THIS COURSE
To complete this course, you are required to read all study units, attempt all the tutor
marked assignments at the end of each study unit. You would need to study carefully,
the principles and concepts guiding each of the topics in the course in this material
Quantitative Analysis provided by the National Open University of
Nigeria (NOUN). You will also need to undertake practical exercises for which you
need access to a personal computer running a suitable Windows for which you have
command over. Each unit contains self-assessment exercises, and at certain points
during the course, you will be expected to submit assignments. At the end of the
course is a final examination. The course should take you about a total of 20 weeks
to complete. Below are the components of the course, what you have to do, and how
you should allocate your time to each unit in order to complete the course successfully
on time.
6.0 COURSE MATERIALS
Major components of the course are:
• Course Guide
• Study Units
• Textbooks
• Assignment file
7.0 STUDY UNITS
The study units in this course are as follows:
4
