The main goal of this course is to present the
basic principles and techniques of mathematical
modeling that will aid managerial decisions. With
case analyses, assignments, and classroom
discussions, students will learn the assumptions,
limitations and the effective use of the analytical
methods such as optimization, Monte Carlo
simulation, discrete-event simulation and
decision trees. The focus will be on model
formulation and interpretation of results, not on
mathematical theory. This course is designed for
program students with an interest in formal
decision modeling. Therefore, the emphasis is
on models that are widely used in diverse
industries regardless of the functional areas.
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