Course: EW461 Quantitative Methods for Management

3 Credits – 3 Recitation Hours – 0 Laboratory Hours

Course Description:

An introduction to Operations Research and its application to engineering. Topics include: optimization of engineering systems, game theory, sensitivity analysis, decision analysis, and human decision-making.

Pre-requisites:

ERC or ERCH major, or Dept Chair Approval.

Course Coordinator:

Prof. Kiriakidis

Textbook:

Introduction to Operations Research, by Hillier and Lieberman

Course Objectives:

1. Apply the Six Phases to the study of Engineering Management problems.

2. Apply the Linear Program (LP) modeling approach to resource allocation problems.

3. Apply the Graphical Method to find the optimal solution for low-dimension LPs.

4. Apply commercial spreadsheet solvers to general LPs.

5. Understand the Simplex Method for optimal solution of general LPs.

6. Apply sensitivity analysis to address “what if” questions in resource allocation.

7. Understand the comparative advantage of solving the Dual Problem to a given LP.

8. Apply LP modeling approach to Network Optimization problems.

9. Understand the Two-Player Zero-Sum (TPZS) game.

10. Apply techniques of pure and mixed strategies to solve the TPZS game.

11. Analyze decision-making using Bayesian reasoning techniques.

12. Contrast Bayesian with human decision-making according to Prospect Theory.

Topics:

1. Categories of Management Problems

2. Development of Models for each Category

3. Application of Solution tools