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BA168IU VNU-International University

Quantitative Methods for Business School of Business




Quantitative Methods for Business

BA168IU VNU-International University
Quantitative Methods for Business School of Business

21.1 Course title : Quantitative Methods for Business
11.2 Units of Credit: 3
1.3 Pre-requisite and/ or Parallel courses: The course presumes a basic understanding
of calculus, probability and statistics.

1.4: Level: Student at 2th year

1.5 Relationship of this course to others

BA168IU– Quantitative Methods for Business focuses on theory and applications of
quantitative analysis techniques to managerial decision making. It is useful for all BA
students. Students need to study statistics & probability before study this course.


2.1 Course Objectives

This course aims to help students to
 Provide students with the methodological understanding of quantitative analysis
used in business management.
 Create an awareness of quantitative analytical tools used in business management.
 Use quantitative analytical tools in business management.
 Engage students in critically evaluating the tools of quantitative analysis.

2.2 Student Learning Outcomes

After completing the course, students should be able to:

Quantitative Methods provides students with many quantitative techniques needed to

analyze business situations and make decisions. The course covers game theory, decision
analysis, forecasting, linear programming, goal programming, project management,
simulation, network models and queuing theory.

After completing the course, students should have developed skills in

 Understand and use techniques introduced in the course to support decision making.
 Think critically about the uses and limitations of quantitative methods in management.
 Use computer software for quantitative analysis.
 To plan and achieve goals and meet challenges and deadlines.
 To learn to work as a collaborative team member.

BA168IU VNU-International University
Quantitative Methods for Business School of Business


3.1 Formal Requirements

In order to pass this course, the students must:
 achieve a composite mark of at least 50; and
 make a satisfactory attempt at all assessment tasks (see below).

3.2 Assessment Details

Mid-Term Exam 30%

Assignment 15%
Group Project 15%
Final Exam 40%
Total 100%

Mid-term Exam: (One Hour): open book

Final Exam: (Two Hours): open book

3.3 Marking criteria

Project report

Marking Criteria Marks Learning outcomes/attributes

Defining problem 20 Clear, concise statement of the problem.
Ability to structure problems in accordance
with theoretical frameworks to solve them.
Applying model 10 Ability to select or develop a suitable
model. Ability to give compelling arguments
and reasoning to support analysis.
Input data 10 Ability to conduct applied research to gather
Ability to analyze the data
Developing a solution 20 Ability to get solution by using the computer
and test the solution.
Analyzing the results, 10 Ability to analyze the results; to get the
sensitivity analysis solutions with small change in model or
input data.
Presentation of the result 30 Ability to present and give some
explanation of the result and withdraw a
lesson about the problem approach.

BA168IU VNU-International University
Quantitative Methods for Business School of Business

3.4 Grading
The letter grade will be followed by the University suggested rule:
90-100: A+, 80-90: A, 70 – 80: B+, 65 – 70: B, 55 – 65: C+, 50 – 55: C, 30 - <50: D+,
10 - <30: D


4.1 Course Resources

Please note that it is very important to gain familiarity with the subject matter in the
readings and cases prior to attendance in classes.


Render, B., Ralph, M.S.Jr., Hanna, M.E, Quantitative analysis for management, 9th
edition, Prentice Hall, 2006

Reference Books:

Hamdy A.Taha, Operations Research: An Introduction -7th edition, Prentice Hall, 2003.
Barry Render, Quantitative analysis for management - 9th edition, Prentice Hall, 2006.
Frank Dewhurst, Quantitative Methods for Business and Management, Mc Graw Hill,

4.2 Other Resources, Support and Information

1Other learning material is lecturer’s power points


Week Topic Learning materials and

1 Introduction to Quantitative Analysis? Text book: Chapter 1
What is Quantitative analysis?
The Quantitative analysis approach Forming Study groups
How to develop a quantitative analysis model
The Role of Computers in QA approach? Allocation of Discussion
Possible problems in QA Questions
Implementation – Not just the final step
How to prepare for project
Text book: Chapter 1

2 Text book: Chapter 2

Introduction to Game theory

BA168IU VNU-International University
Quantitative Methods for Business School of Business

Assignment (text book)

The zero sum game

Mixed strategy

Review Probability concepts and applications

Fundamental concepts
Random variable
Probability distributions
The Binomial distribution
The Normal distribution
The exponential distribution
The Poison distribution

3 Decision analysis Text book: Chapter 3

The six steps in decision making
Types of decision making environment Assignment (text book)
Decision making under uncertainty
Criterion of Realism
Equally likely
Minimax Regret
Decision making under risk
Expected Monetary Value
Expected value of perfect information
Expected opportunity loss
Sensitivity analysis

4 Decision analysis (cont.) Text book: Chapter 3

Decision tree Assignment (text book)
How probability values are estimated by Bayesian
Utility theory
Using Excel, QM for Window to solve decision theory
5 Review: Regression models Text book: Chapter 4
Text book: Chapter 5
Type of forecast Assignment (text book)
Time series forecast models
Monitoring and Controlling forecasts
Using the computer to forecast

BA168IU VNU-International University
Quantitative Methods for Business School of Business

6 Linear Programming Models: Graphical and Text book: Chapter 7

Computer methods
Assignment (text book)
Requirements of a linear programming problem
Formulating LP problems
Graphicial solution to a LP problem
Four special cases in LP
No feasible solution
Alternative Optimal solutions
Sensitivity analysis


7 Linear Programming Modeling applications Text book: Chapter 8

Assignment (text book)
Marketing applications
Manufacturing applications
Employee scheduling applications
Financial applications
Transportation applications
Transshipment applications
Ingredient blending applications
8 Linear Programming: the simplex method Text book: Chapter 9
Assignment (text book)
How to set up the initial simplex solution
Simplex solution procedures
The second simplex tableau
Developing the third tableau
Sensitivity analysis with the simplex tableau
Using the computer to solves programming problems.

9 Introduction to Integer Programming, Goal Text book: Chapter 11

Programming, Nonlinear Programming Assignment (text book)

Analytic Hierarchy Process Analytic Hierarchy

10 Project Management Text book: Chapter 13
PERT Assignment (text book)
Critical path method
Project crashing with CPM
Project crashing with linear programming
Project management with QM for windows
11 Waiting lines and Queuing theory Models Text book: Chapter 14

BA168IU VNU-International University
Quantitative Methods for Business School of Business

Waiting line cost Assignment (text book)
Characteristics of a queuing system
Single channel queuing model
Multiple –channel queuing model
Constant service time model
Finite population model
More complex queuing models and the use of
Using QM for windows

12 Review
Group presentation

Questions for
Midterm Exam: Game Theory, Decision Analysis (table or tree), Forecasting, LP _
Final Exam: LP: Models, LP: simplex methods, Analytic Hierarchy Process, Project
Management, Queuing Theory (Option).