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Mr Trials and Errors Lead to Pass

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VLC Course Descriptions

Quantitative Analysis for Decision Making

Quantitative Analysis for Decision Making
An Immersive Virtual Reality Learning Experience
2011-2012

Course Description
This course provides the student with the concepts, methods and tools for the application of logical and quantitative analysis to business decision making and problem solving. It familiarizes the student with a wide range of software and other classical and contemporary resources related to decision and problem analysis, including basics of logic and decision making, principles of optimization, probabilistic distributions, linear programming, simplex, queuing and transportation problems, break even analysis, inventory management, forecasting and simulation. The course highlights the benefits as well as the limits of quantitative analysis in a real-world context. This course may be adapted for the graduate and undergraduate levels.
Materials
Readings, assignments, problems and assessments are integrated into the courseware. Any additional materials will be assigned by the instructor at the start or during the course.
Course Outline & Assignments
Assignments will change from time to time as new resources become available, contemporary events have bearing on the topics, or the social, legal, or economic environments change.
FUNDAMENTALS OF DECISION MAKING AND PROBLEM SOLVING (Module One, 4-6 hours)















Words of the Wise
What is a Decision? What does it mean to solve a problem?
Understanding Limitations - every problem does not have a solution
What is a Good/Bad Decision?
Why Process is Important
Laziness
Predictably Irrational - Self Deception
The wrong people doing the analysis, making the decision
No or Poor Objectives
Faulty Decision Criteria
Weak, Irrelevant Assumptions…...

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