This subject involves skill building in statistical and decision analysis methods for managers, including probability, decision trees and linear programming, and correlation and regression techniques.
Intended learning outcomes
Students who successfully complete this subject should:
Understand the role of statistical analysis in managerial decision making
Appreciate decision modeling as a way of learning about commercial decisions
Understand utility and other models for understanding complex decisions
Be able to formulate linear programs to model business decisions
Appreciate a range of management science models
Generic skills
On successful completion of this subject students should have enhanced their skills in:
Ethical behaviour in leadership and organisations
Analysis and problem solving
Capacity for intellectual curiosity, creativity and independent thought
Communication of key ideas and theories within the discipline areas
Capacity for effective teamwork and collaboration
Information retrieval and application in relation to practical problems.