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TTC Video - Mathematical Decision Making [24 Lectures (M4V)]

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TTC Video - Mathematical Decision Making [24 Lectures (M4V)]

TTC Video - Mathematical Decision Making [24 Lectures (M4V)] | 11.14 GB
Genre: E-Learning

Consider the following applications of this powerful set of tools:

Bidding: Simulation models can take a lot of guesswork out of competitive bidding for a project. By running repeated simulations against competitors, a bidder can come up with a proposal that has a good chance of winning the job, while still making a profit.
Queuing: Any process that reflects the behavior of waiting lines is known as queuing. Markov analysis shows how a small increase in input to a system can have a major impact on waiting times. The method also reveals surprising solutions for making long waits vanish.
These same techniques can be applied to retirement planning, stock portfolio analysis, budget forecasting, health care allocation, public relations, marketing and advertising, and many other tasks for enterprises large and small. The applications are truly endless!

Mathematical decision making got its first rigorous tests during World War II, when the Allies used top-secret operations research to protect convoys, improve the aim of anti-aircraft fire, and locate the weak points on Allied bombers. After the war, private industry adopted operations research with enthusiasm, but these new methods were expensive, computing speed was slow, and only specialized experts could take advantage of the algorithms. That situation has changed dramatically, and today anyone with a home computer and a spreadsheet program can harness the power of these methods to solve practical problems. The trick is knowing what you can do and how to do it.

Mathematical Decision Making: Predictive Models and Optimization is your guide, teaching you the major mathematical techniques, applications, and spreadsheet procedures for basic analytics in 24 information-packed half-hour lectures. Your professor is award-winning educator Scott Stevens, Professor of Computer Information Systems and Business Analytics at James Madison University.

professionals aspiring to advance in their careers by mastering a proven approach to problem solving;
those who work with or review spreadsheet and graphical presentations, and need to be able to separate good data from bad;
students in business, mathematics, finance, marketing, health care, engineering, urban planning, and a host of other fields;
math lovers curious to see a field that is often the opposite of calculus: simple functions and complex boundary conditions, instead of complex functions with simple boundary conditions; and
lifelong learners who want to hone their critical thinking skills with important analytical techniques, made accessible and intellectually exciting as never before.
Discover the Art of Deciding

Conveniently, the course guidebook includes additional thought-provoking questions, problems, and answers for each lecture, along with recommended resources to help you dig deeper into any topic where you want to know more.

Analyze a Wealth of Cases

Public relations: The makers of Gerber baby food had experienced a public relations problem earlier in their history. See how they used decision tree analysis during a second budding crisis a dozen years later to map their options and reach a successful decision.

An acclaimed instructor who practices what he teaches, Professor Stevens has pushed the boundaries of mathematical decision making on many fronts. His research has addressed such problems as neural network prediction of survival in trauma patients and how to optimize the market for natural gas from the Gulf of Mexico.
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