Data, Models, and Decisions—Foundations of Management Science

Author: (USA) Betsy Masius
Publisher:
Publish Date: 2003-07-01
Features: This book integrates the contents of two entirely different fields—probability and statistics and management science—into quantitative methods and models for management and business. It emphasizes the fundamental concepts essential for practical analytical methods in management decision-making, focusing on the following aspects: modeling and assessing uncertainty, the dynamic nature of decision-making, how to effectively utilize historical data and limited information, how to simulate complex systems, and optimal allocation of scarce resources, etc. The book provides both conceptual discussions and relevant practical content. Its teaching objective is to perfectly combine concepts, related processes, and readability. Despite its broad coverage, the book remains more concise than other textbooks. The examples in the book are further reinforced through exercises and unit cases.