Objective: The objective of the paper is to acquaint the student with the various quantitative
techniques and methods used in managerial decisions.
UNIT I
Quantitative Techniques: Introduction and Use in Business
Theory of Probability: Introduction, Definitions and Use of Addition and Multiplicative
Theorem, Conditional Probability. Probability-Distribution: Binomial-Distribution, PoissonDistribution, Normal-Distribution
Linear Programming: Meaning, Advantages, Limitations, Basic Terminology, Formulation of
Linear Programming Problem, Graphic Solution of Linear Programming Problem; Business
Application of Linear Programming.
UNIT II
Interpolation and Extrapolation
Correlation: Meaning, Types, Methods-Scattered Diagram, Karl Pearson’s Coefficient of
Correlation, Rank Correlation and Concurrent Deviation Method.
Regression: Meaning and Significance, Difference Between Correlation and Regression, Simple
Linear Regression and Estimation of Parameters (Slope and Intercept).
Practical Work: Use of Microsoft Excel in Solving Simple Data Analysis.
