7. Quantitative Techniques in Decision Making - Topical Notes

Descriptive statistics – tabular, graphical and numerical methods, introduction to probability, discrete and continuous probability distributions, inferential statisticssampling distributions, central limit theorem, hypothesis testing for differences between means and proportions, inference about population variances, Chi-square and ANOVA, simple correlation and regression, time series and forecasting, decision theory, index numbers; 
Linear programming   –   problem   formulation , simplex method and graphical solution, sensitivity analysis.

Topics:
Probability; Linear Programming; Hypothesis Testing; Regression; Sampling; Transportation schedule; Correlation Analysis; Karl Pearsons Correlation; Decision Trees; Binomial, Poission, Exponential, Normal Probabilty Distributions; Decision Making under risk; Optimisation; Scatter diagrams; Tests of Significance; Time Series Analysis; Forecasting Techniques; Chi Square