Management Decision Models

Management Decision Models

Using the framework of 1) data, 2) models, and 3) decisions, this course familiarizes the student with the systematic use of data and models in decision making. The student acquires an appreciation of management science approaches to solving problems in business or government, public or private, and profit or not-for-profit sectors. Examples of problems from various sectors and from various functional areas are discussed. Students gather data about these problems, develop models, and explore solutions using computer-based analysis and managerial judgment. In addition, "what if" analyses are used to determine the sensitivity of model solutions to uncertainties in data inputs. The course is computer based, using many of the advanced features on Excel and/or other software packages.