Quantitative Techniques for Business Decisions

Operations Research: An Introduction, Characteristics, Nature, Scope and Role of Operations Research and Quantitative Techniques, Scientific approach in decision-making, Techniques of OR, Limitations of these Techniques.
Linear Programming: Formulation of L.P. Problems, Graphical Solution and Simplex Method, Big-M method and Two-phase method; Duality

Elementary Transportation: Formulation of Transport Problem, Solution by N.W. Corner Rule, Least Cost method, Vogel’s Approximation Method (VAM), Modified Distribution Method. (Special cases: Multiple Solutions, Maximization case, Unbalanced case, prohibited routes)
Elementary Assignment: Hungarian Method, (Special cases: Multiple Solutions, Maximization case, Unbalanced case, Restrictions on assignment.)

Construction of the Network diagram, Critical Path- float and slack analysis (Total float, free float, independent float), PERT, Project Time, Crashing

Pay off Table, Opportunity Loss Table, Expected Monetary Value, Expected opportunity Loss, Expected Value of Perfect Information and Expected profit for Perfect Information, Decision Tree

Pay off Matrix- Two person Zero-Sum game, Pure strategy, Saddle point; Dominance Rule, Mixed strategy, Reduction of m x n game and solution of 2x2, 2 x s, and r x 2 cases by Graphical and Algebraic methods