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The flashcards related to quantitative methods will cover these
topics:
- Forecasting Analysis
- Correlation analysis, coefficient of correlation, coefficient of determination, regression analysis, learning curves, additional time needed for incremental order assuming a learning curve.
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- Linear Programming
- Relationship of marginal cost function to total cost function, maximization of revenue problems, maximization of profit problems, linear programming, limitations of linear programming, business applications utilizing linear programming, shadow prices, goal programming, constraints, slack variables.
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- Probability Concepts and Expected Value
- Two types of probabilities, mutually exclusive, conditional probability, joint probability, independent probability, discrete distributions, continuous distributions, expected value of an alternative, probability of success vs. failure, critical probability of variable in an inequity function, primary quantitative method applications, linear vs. nonlinear functions, linear algebra vs. matrix algebra, differential calculus, integral calculus.
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- Sensitivity and Network Analysis
- Definition of sensitivity analysis, slack time, project scheduling techniques, Gantt charts, program evaluation and review technique, critical path method probabilistic time estimates, beta probability distribution vs. normal distribution, expected completion time, standard deviation, crash time, critical path, mean completion time and standard deviation for critical path.
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- Simulation and Other
- Definition of simulation, stages of the simulation process, definition of a decision tree, definition of artificial intelligence, knowledge and database, inference engine, Monte Carlo technique, Markov analysis, game theory, maximax vs. minimax criterion, operating conditions identified by a queuing model, objective of a queuing model, two main costs of a queuing system, examples of queuing systems, assumptions behind queuing models, Poisson distributions, arrival rate vs. service rate.
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