Quantitative Tools for Qualified Managerial Decision Making

The course is organized by the Faculty of Management and Economics.

Credits: 5 ECTS

Subjects covered:

  • Problem-Solving and Quantitative Analysis for Decision Making, Model Development, Data Preparation, Model Solution, Report Generation, Implementation, Management Science Technique
  • Linear Programming. Problem Formulation, Economical Model, Mathematical Model, Solution (Graphical, Software), Sensitivity Analysis and Interpretation of Solution. Linear Programming Applications (Marketing, Finance, Production Management, Transportation). Solution of LP Models – the Simplex Method, Distribution Method
  • Network Models. Shortest Route Problem, Minimal Spanning Tree Problem, Maximal Flow Problem. Project Scheduling – CPM/PERT (the Concept of Critical Path, Determining of Critical Path, Time Slacks), Time-Cost Analysis
  • Waiting Line Models (Queuing Theory). Structure of Waiting Line System (Single-Channel Waiting Line, Distribution of Arrivals, Distribution of Service Time, Queue Discipline, Steady-State Situation, Multiple-Channel Waiting Line Models, Economic Analysis of Waiting Lines

Requirements: basics of mathematics, linear algebra, and statistics

Tuition and fees: course, accommodation, breakfasts and events are included

Payment deadlines:

  • Early Bird: EUR 620; Deadline: 30 April 2023
  • Regular: EUR 670; Deadline: 31 May 2023

Lecturer: RNDr. Bedřich Zimola, Ph.D.