The purpose of this twelfth edition, as with previous editions, is to provide undergraduate and graduate students with a conceptual understanding of the role that quantitative methods play in the decision-making process. The text describes the many quantitative methods developed over the years, explains how they work, and shows how the decision maker can apply and interpret them.
This book is written with the nonmathematician in mind. It is applications-oriented and used our problem scenario approach. In each chapter a problem is described in conjunction with the quantitative procedure being introduced. Development of the quantitative technique or model includes applying it to motivate the student by demonstrating not only how the procedure works, but also how it contributes to the decision-making process.
The mathematical prerequisite for this text is a course in algebra. The two chapters on probability and probability distributions will provide the necessary background for the use of probability in subsequent chapters. Throughout the text we use generally accepted notation for the topic being covered. As a result, students who pursue study beyond the level of this text will generally experience little difficulty reading more advanced material. To also assist in further study, a bibliography is included at the end of this book.
Chapter 1 Introduction
Chapter 2 Introduction to Probability
Chapter 3 Probability Distributions
Chapter 4 Decision Analysis
Chapter 5 Utility and Game Theory
Chapter 6 Forecasting
Chapter 7 Introduction to Linear Programming
Chapter 8 Linear Programming: Sensitivity Analysis and Interpretation of Solution
Chapter 9 Linear Programming Applications in Marketing, Finance, and Operations Management
Chapter10 Distribution and Network Models
, etc.