Pennsylvania State University 2-3 credits BA
This course is an introduction to the mathematical methods and tools of managerial decision making under uncertainty. While the main topics of the course are probability, statistics, decision analysis, simulation, and regression which are mathematical by nature, emphasis is placed on improving an intuitive understanding of the underlying issues in these topics. Rather than simply memorizing mathematical formulas, the student is encouraged to gain a better understanding of why certain concepts are used, and to learn what type of information is relevant to evaluate different situations of uncertainty. Students are expected to apply and discuss how the quantitative analysis they develop aides in business decision making. Students are expected to gain familiarity with various state of the art software packages for this analysis.
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