Business Decision Models (6538.5)
|Level:||Level 2 - Undergraduate Intermediate Unit|
|HECS Bands:||2, 4|
|Faculty:||Faculty of Science and Technology|
|Discipline:||Academic Program Area - Technology|
This unit is an introduction to the modelling of management scenarios using spreadsheets and other software. It deals with the application of mathematical modelling techniques to management problems of realistic size. The emphasis is on formulation and interpretation of models. Topics will be drawn from decision making, project scheduling, analyses of inventories and queues, and linear programming techniques. Situations of certainty and uncertainty are considered.
On successful completion of this unit, students will be able to:
1. Recognise real-world scenarios, which can be modelled by the techniques covered;
2. Implement these scenarios in a quantitative model; and
3. Interpret the results of the model and evaluate their reliability.
3 hrs per week F2F.
Mathematical Methods and Business Statistics, or equivalent.