Syllabus

**MTS506 **  **Quantitative Methods for Decision Making **  **Shah. E-Mail Address: aashah@iba.edu.pk **  The most important objectives of this course are the following:  1. To give students with an operational knowledge of quantitative techniques for economic and management decision problems by familiarizing the basic & advanced principles and techniques of statistics. The students will study to use some of the important analytic methods, to be familiar with their postulations and restrictions, and to utilize them in decision-making. 2. To depict students to situations in which models can be used successfully. Students will apply management science thoughts in practical situations. 3. To augment students capability to makeup problems and to perform logical analyses. <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">4. <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">To strengthen students computer skills. They will utilize the computer as a resource. <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;"> <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;"> <span style="color: black; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-fareast-language: ZH-CN; msobidifontfamily: Symbol; msobidifontsize: 12.0pt; msobidifontstyle: italic; msobidifontweight: bold; msofareastfontfamily: Symbol; msofareastlanguage: ZH-CN; msolist: Ignore;">· <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">Two basic features of every relation between variables. || <span style="color: black; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-fareast-language: ZH-CN; msobidifontfamily: Symbol; msobidifontsize: 12.0pt; msobidifontstyle: italic; msobidifontweight: bold; msofareastfontfamily: Symbol; msofareastlanguage: ZH-CN; msolist: Ignore;">· <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">What is statistical significance (p-value) || <span style="color: black; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-fareast-language: ZH-CN; msobidifontfamily: Symbol; msobidifontsize: 12.0pt; msobidifontstyle: italic; msobidifontweight: bold; msofareastfontfamily: Symbol; msofareastlanguage: ZH-CN; msolist: Ignore;">· <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">Why significance of a relation between variables depends on the size of the sample. || <span style="font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontsize: 11.0pt; msofareastfontfamily: Symbol; msolist: Ignore;">· <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">Can no relation be a significant result? <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;"> || <span style="font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;"> <span style="font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;"> <span style="background: red; color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-highlight: red; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msohighlight: red; msolist: Ignore;">· **<span style="background: red; color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-highlight: red;">Distribution Functions ** <span style="background: red; color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-highlight: red; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msohighlight: red; msolist: Ignore;">· **<span style="background: red; color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-highlight: red;">Discrete Random variables and probability mass functions ** <span style="background: red; color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-highlight: red; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msohighlight: red; msolist: Ignore;">· **<span style="background: red; color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-highlight: red;">Continuous Random Variables and Probability Density Function ** <span style="background: red; color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-highlight: red; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msohighlight: red; msolist: Ignore;">· **<span style="background: red; color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-highlight: red;">Mean and Variance ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Some Special Distributions ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Conditional Distribution ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Bivariate Random Variables ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Joint Distribution Functions ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Discrete Random variables -Joint probability mass functions ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Conditional Means and Conditional Variances ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Expectations ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Moment Generating Functions ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Characteristic Functions ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Central Limit Theorem ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Parameter Estimation  ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Properties of Point Estimators ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Maximum-Likelihood Estimation ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Bayes’ Estimation ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Mean Square Estimation ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Linear Mean Square Estimation ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Introduction ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Regression Equation ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">The coefficient of Determination ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Linear Correlation ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Analysis of Variance ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Introduction ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Hypothesis Testing ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Criterion ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">The Minimax Criterion ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">The Bayes Criterion ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Tests ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Case study one for each group ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Making Using General Linear Models ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Making Using Generalized Linear Models ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Making Using General Regression Models ** <span style="color: black; font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msobidifontweight: bold; msofareastfontfamily: Symbol; msolist: Ignore;">· **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Making Using Graphical Techniques ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana;"> <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana;"> **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">ASSESSMENT SCHEME ** || **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">ASSESSMENT ** || **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">MARKS ** || **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">10% ** || **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">40% ** || **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">10% ** || **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">40% ** || **<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">100 ** || <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana;"> //<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana;">Quantitative Methods for Business Decisions by Anderson/Sweeney/Williams, 10th edition // <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;"> <span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; msobidifontfamily: Calibri; msobidithemefont: minor-latin; msolist: Ignore;"> 3. **<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Quantitative Techniques by N. D. Vohra. ** <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;"> <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;">Regular office hours for counseling students will be as follows: • <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;">Monday 15:00-16:00 • <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;">Wednesday 14:30-15:30 <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;">Students may come to the office anytime other than these time periods, but it should be <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;">done by prior appointment.
 * __<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">Introduction/Teaching Methodology __**
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">P.S Students will be encouraged to bring their Laptops in the class. **
 * __<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">Lecture Plan __**
 * //<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: ZH-CN; msofareastfontfamily: 'Times New Roman'; msofareastlanguage: ZH-CN; msolist: Ignore;">1- //****//__<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">Introduction and Basics of QMDM __//****//<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;"> [2 Lectures] //**
 * * How to determine that a result is “really” significant. <span style="font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">  || *  Statistical significance and number of analyses performed. <span style="font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: SimSun; mso-fareast-language: ZH-CN;">  ||
 * * Strength vs. reliability of a relation between variables. || * Why stronger relations between variables are more significant. ||
 * * Why small relations can be proven significant only in large samples. || * How to measure the magnitude (strength) of relations between variables. ||
 * * Common “general format” of most statistical tests. || * How the level of statistical significance is calculated. ||
 * * Why the normal distribution is important || * Illustration of how the normal distribution is used in statistical reasoning (induction). ||
 * * Are all test statistics normally distributed || * How do we know the consequences of violating the normality assumption? ||
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">2- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Random Variables [2 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">3- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Multiple Random Variables [4 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">4- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Functions of Random Variables, Expectations, Limit Theorems [2 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">5- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Estimation Theory-I [4 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">6- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Estimation Theory-II [4 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">7- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Regression, Correlation and ANOVA-I [2 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">8- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Regression, Correlation and ANOVA-II [4 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">9- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Theory- I [2 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">10- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Theory- II [4 Lectures] **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">11- ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Decision Making [Exercises for Students]  **
 * //__<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana;">Assessment Scheme __//**
 * //<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-fareast-font-family: Verdana; msobidifontfamily: Verdana; msofareastfontfamily: Verdana; msolist: Ignore;">a) //**<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">There will be two one and a half hourly tests which will be considered towards the final assessment.
 * //<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-fareast-font-family: Verdana; msobidifontfamily: Verdana; msofareastfontfamily: Verdana; msolist: Ignore;">b) //**<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">In addition to these tests, for continuous assessment, there will be three short quizzes and the students will be marked individually in their respective quizzes. The best two quizzes will be considered towards the final assessment.
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">AVERAGE OF QUIZZES ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">AVERAGE OF QUIZZES ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">AVERAGE OF TERM EXAMS ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">AVERAGE OF TERM EXAMS ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">ASSIGNMENT ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">ASSIGNMENT ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">FINAL TEST ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">FINAL TEST ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">TOTAL ** ||
 * <span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana; mso-bidi-font-style: italic;">TOTAL ** ||
 * //<span style="font-family: 'Verdana','sans-serif'; font-size: 12pt; mso-bidi-font-family: Verdana;">REQUIRED TEXTBOOK: //**
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Reference Books **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">1. ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Quantitative Methods for Decision Makers by Mik Wisniewski **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">2. ****<span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt;">Statistics for Quantitative Techniques by M. G. Dhayaude **
 * <span style="color: black; font-family: 'Times New Roman','serif'; font-size: 12pt; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi;">Counseling/Office Hours **