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• Cover
• Title
• Copyright
• Contents
• List of ‘QADM in action’ case studies
• Preface
• Publisher’s acknowledgements
• 1 Introduction
• The use of quantitative techniques by business
• The role of quantitative analysis in business
• Models in quantitative decision making
• Use of computers
• Using the text
• Summary
• 2 Tools of the Trade
• Learning objectives
• Some basic terminology
• Fractions, proportions, percentages
• Rounding and significant figures
• Common notation
• Powers and roots
• Logarithms
• Summation and factorials
• Equations and mathematical models
• Graphs
• Real and money terms
• Worked example
• Summary
• Exercises
• 3 Presenting Management Information
• Learning objectives
• A business example
• Bar charts
• Pie charts
• Frequency distributions
• Percentage and cumulative frequencies
• Histograms
• Frequency polygons
• Ogives
• Lorenz curves
• Time-series graphs
• Z charts
• Scatter diagrams
• Radar charts
• Which chart to use
• General principles of graphical presentation
• Worked example
• Summary
• Exercises
• 4 Management Statistics
• Learning objectives
• A business example
• Why are management statistics needed?
• Measures of average
• Measures of variability
• Using the statistics
• Calculating statistics for aggregated data
• Index numbers
• Worked example
• Summary
• Exercises
• 5 Probability and Probability Distributions
• Learning objectives
• Terminology
• The multiplication rule
• The addition rule
• A business application
• Probability distributions
• The binomial distribution
• The normal distribution
• Worked example
• Summary
• Exercises
• 6 Decision Making Under Uncertainty
• Learning objectives
• The decision problem
• The maximax criterion
• The maximin criterion
• The minimax regret criterion
• Decision making using probability information
• Risk
• Decision trees
• The value of perfect information
• Worked example
• Summary
• Exercises
• 7 Market Research and Statistical Inference
• Learning objectives
• Populations and samples
• Sampling distributions
• The Central Limit Theorem
• Characteristics of the sampling distribution
• Confidence intervals
• Other confidence intervals
• Confidence intervals for proportions
• Interpreting confidence intervals
• Hypothesis tests
• Tests on a sample mean
• Tests on the difference between two means
• Tests on two proportions or percentages
• Tests on small samples
• Inferential statistics using a computer package
• p values in hypothesis tests
• X2 test
• Worked example
• Summary
• Exercises
• 8 Quality Control and Quality Management
• Learning objectives
• The importance of quality
• Techniques in quality management
• Statistical process control
• Control charts
• Control charts for attribute variables
• Specification limits versus control limits
• Pareto charts
• Ishikawa diagrams
• Six sigma
• Worked example
• Summary
• Exercises
• 9 Forecasting I: Moving Averages and Time Series
• Learning objectives
• The need for forecasting
• Approaches to forecasting
• Trend projections
• Time-series models
• Worked example
• Summary
• Exercises
• 10 Forecasting II: Regression
• Learning objectives
• The principles of simple linear regression
• The correlation coefficient
• The line of best fit
• Using the regression equation
• Further statistical evaluation of the regression equation
• Non-linear regression
• Multiple regression
• The forecasting process
• Worked example
• Summary
• Exercises
• 11 Linear Programming
• Learning objectives
• The business problem
• Formulating the problem
• Graphical solution to the LP formulation
• Sensitivity analysis
• Computer solutions
• Assumptions of the basic model
• Dealing with more than two variables
• Extensions to the basic LP model
• Worked example
• Summary
• Exercises
• Appendix: Solving LP problems with excel
• 12 Stock Control
• Learning objectives
• The stock-control problem
• Costs involved in stock control
• The stock-control decision
• The economic order quantity model
• The reorder cycle
• Assumptions of the EOQ model
• Incorporating lead time
• Some technical insights
• Classification of stock items
• Worked example
• Summary
• Exercises
• 13 Project Management
• Learning objectives
• Characteristics of a project
• Project management
• Business example
• Network diagrams
• Developing the network diagram
• Using the network diagram
• Technical point
• Gantt charts
• Uncertainty
• Project costs and crashing
• Worked example
• Summary
• Exercises
• 14 Simulation
• Learning objectives
• The principles of simulation
• Business example
• Developing the simulation model
• A simulation flowchart
• Using the model
• Worked example
• Summary
• Exercises
• Appendix: Simulation with excel
• 15 Financial Decision Making
• Learning objectives
• Interest
• Nominal and effective interest
• Present value
• Investment appraisal
• Replacing equipment
• Worked example
• Summary
• Exercises
• Postscript: A quick look at recent developments in QADM
• Big Data and data/business analytics
• Artificial Intelligence
• Agent-based simulation
• Data visualisation
• Summary
• Appendices
• A Binomial Distribution
• B Areas in the Tail of the Normal Distribution
• C Areas in the Tail of the t Distribution
• D Areas in the Tail of the x2 Distribution
• E Areas in the Tail of the F Distribution, 0.05 Level
• F Solutions to Chapter Progress Check Questions
• Index