2020-2021 Academic Catalog

Nov 21, 2024

2020-2021 Academic Catalog [ARCHIVED CATALOG]

MGMT 110 - Quantitative Methods for Managers

This course provides an introduction to the quantitative methods used by managers and business professionals. It basically contains two equally weighted parts: math and statistics. In the math portion, the emphasis will be placed on the mathematical techniques that are applicable to real-world management problems. Business application examples in this part include, for example, the optimal quantity to produce and sell in the market under a mathematical viewpoint of quadratic functions, the time value of money in the application of logarithm functions, and the inventory model solved with calculus. In the statistics part, the course emphasizes the basic statistical concepts and methods including basic descriptive statistics, sampling and normal distributions, confidence interval and hypothesis testing, correlation and regression. Statistical software such as MS Excel will be used to show the business applications of simple and multiple regressions. As such, how to use the basic statistical functions in Excel and how to interpret the regression outputs from Excel is also included.

Course Designation/Attribute: FA

Anticipated Terms Offered: Offered every year