Quantitative Methods in Management Essays

1397 Words Apr 15th, 2012 6 Pages
Quantitative Methods in Management


Session One

Asato ma sat gamaya, tamaso ma jyotir gamaya,

mrityo ma amritam gamaya

‘Lead me from the superficial to the worthy,

from darkness to light and

from stagnation to zestful living’

Brahadaranyaka Upanishad (1,3,28)

[pic]M C Escher http://www.theorsociety.com/Science_of_Better/htdocs/prospect/index.asp What is Operational Research? The discipline of applying appropriate analytical methods to help make better decisions.

By using techniques such as problem structuring methods (sometimes known as 'Soft O.R.') and mathematical modelling to analyse complex situations, operational
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in a piece of machinery • public transport - waiting for a train or a bus http://www.theorsociety.com/orshop/%280ksoez45decvetbaulih0mzg%29/orcontent.aspx?inc=article_orinsight_toilets.htm Queueing for Toilets - estimating the required No.of toilets using queueing theory

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Two of the WC Nomograms (after Stewart and Braddon-Parsons, 1996) http://www.theorsociety.com/orshop/%285vtrru45ihf5iaibabio0y45%29/orcontent.aspx?inc=article_orinsight_simhealth.htm Simulation in Health Care Management: Modelling an Outpatient Clinic
- an example of how simulation can assist in the improvement of health care management




Phases of OR Study

• Problem Identification • Problem Formulation • Model Construction • Input Data Selection • Solution Derivation • Model and Solution Testing • Control Establishment • Implementation http://en.wikipedia.org/wiki/Glossary_of_probability_and_statistics • Bias can refer either to a sample not being representative of the population, or to the difference between the

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