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Overview
Written with the non-mathematician in mind, Camm/Cochran/Fry/Ohlmann's "Quantitative Methods for Business," 14th Edition, equips your students to understand the role that quantitative methods play in decision making. The text introduces how current quantitative methods work and how decision-makers can apply and interpret data. The Problem-Scenario Approach helps readers understand and apply mathematical concepts and techniques to solve business problems. Excel-based coverage incorporates Excel’s histogram charting the use of the XLOOKUP function. Clearer explanations have been added in response to reader feedback. The book features updated Q.M. in Action vignettes that showcase real world applications, homework problems, end-of-chapter cases and revisions to existing problems and cases.
- WebAssign builds mastery with auto graded work, instant feedback, secure tests and video help, while Class Insights provides faculty with powerful analytics.
- Expanded Excel tools, clearer explanations, refreshed problems, cases and Q.M. in Action features deliver a modern, practical and application-driven learning experience.
- New learning objectives, problem titles and application areas help instructors and students quickly grasp each exercise’s purpose, context and focus.
- Clear margin annotations highlight essential ideas and offer helpful insights, giving students added guidance and strengthening understanding of key concepts.
- End of section Notes & Comments add practical insights, cautions and application tips, helping students better understand each method’s use, limits and nuances.
- Engaging Q.M. in Action articles showcase real business applications, featuring insights from leading practitioners and adapted cases from INFORMS Journal on Applied Analytics.
- Engaging Q.M. in Action Articles Summarize Applications from Real-World Practice. Interesting Q.M. in Action articles throughout the text offer practical summaries of how quantitative methods apply in business today. The articles feature adaptations from INFORMS JOURNAL ON APPLIED ANALYTICS as well as contributions from leading practitioners.
1. Introduction.
2. Introduction to Probability.
3. Probability Distributions.
4. Decision Analysis.
5. Utility and Game Theory.
6. Time Series Analysis and Forecasting.
7. Introduction to Linear Programming.
8. Linear Programming: Sensitivity Analysis and Interpretation of Solution.
9. Linear Programming Applications in Marketing, Finance, and Operations Management.
10. Distribution and Network Models.
11. Integer Linear Programming.
12. Advanced Optimization Applications.
13. Project Scheduling: PERT/CPM.
14. Inventory Models.
15. Waiting Line Models.
16. Simulation.
17. Markov Processes.
Appendix A: Building Spreadsheet Models.
Appendix B: Binomial Probabilities.
Appendix C: Poisson Probabilities.
Appendix D: Areas for the Standard Normal Distribution.
Appendix E: Values for e-λ.
Appendix F: References and Bibliography.
Appendix G: Self-Test Solutions and Answers to Even-Numbered Problems.