Data mining refers to a class of methods used for analyzing large data sets, uncovering patterns and correlations buried within masses of raw data, according to Yale University law professor Ian Ayres, author of "Super Crunchers.
Regression Analysis A popular technique among economists and statisticians, regression analysis uses complex statistical equations to estimate the impact of one or more factors, known as predictors or independent variables, on an outcome of interest, known as a dependent variable.
This makes optimal allocation of these resources a challenge for any manager. Next, the core ideas of quantitative methods are presented in chapters that explore introductory topics in probability, descriptive and inferential statistics, linear regression, and a discussion of time series that includes both classical topics and more challenging models.
With hands-on applications and explanations that are accessible to readers at various levels, the book successfully outlines the necessary tools to make smart and successful business decisions.
Analysis of the data using this technique can estimate whether a correlation exists between the two and whether that relationship is statistically significant.
He has published numerous journal articles on the application of optimization and simulation methods in different areas, ranging from production management to finance.
Added to Your Shopping Cart Add to cart Description An accessible introduction to the essential quantitative methods for making valuable business decisions Quantitative methods-research techniques used to analyze quantitative data-enable professionals to organize and understand numbers and, in turn, to make good decisions.
The author also discusses linear programming models and decision making under risk as well as less standard topics in the field such as game theory and Bayesian statistics.
Linear Programming All businesses face limited resources, including facility space, production equipment, supplies and labor. The book promotes the importance of an analytical approach, particularly when dealing with a complex system where multiple individuals are involved and have conflicting incentives.
Progressing from beginner to more advanced material at an easy-to-follow pace, the author utilizes motivating examples throughout to aid readers interested in decision making and also provides critical remarks, intuitive traps, and counterexamples when appropriate.
An Introduction for Business Management presents the application of quantitative mathematical modeling to decision making in a business management context and emphasizes not only the role of data in drawing conclusions, but also the pitfalls of undiscerning reliance of software packages that implement standard statistical procedures.
These methods also help managers project future business conditions, enabling them to adjust their strategies as needed.
Brandimarte is the author of Numerical Methods in Finance and Economics: Finally, the book concludes with a focus on selected tools from multivariate statistics, including advanced regression models and data reduction methods such as principal component analysis, factor analysis, and cluster analysis.
Quantitative Methods is an excellent book for courses on the topic at the graduate level. Operations researchers and analysts in manufacturing and transportation have used linear programming to analyze and resolve problems related to planning, scheduling and distribution, according to Barry Render and Ralph Stair, authors of "Quantitative Analysis for Management.
The book also serves as an authoritative reference and self-study guide for financial and business professionals, as well as readers looking to reinforce their analytical skills.
Data Mining A combination of statistical and computer programming skills, data mining has grown in popularity as the quantity and size of statistical data sets have grown.Apr 26, · Quantitative Methods is an excellent book for courses on the topic at the graduate level.
The book also serves as an authoritative reference and self-study guide for financial and business professionals, as well as readers looking to reinforce their analytical killarney10mile.com: Hardcover.
About This Product. Provide a conceptual understanding of the critical role of quantitative methods in decision-making with QUANTITATIVE METHODS FOR BUSINESS, 13TH EDITION.
A well-balanced and accessible introduction to the elementary quantitative methods and Microsoft® Office Excel® applications used to guide business decision making /5(3). Introduction to basic mathematical and statistical methods and models, as well as their software applications for solving business problems and/or in making decisions.
Includes such topics as probability and probability distributions, decision analysis, forecasting and linear regression, linear programming, and waiting line models. VII. All I need is for someone to show me how to put this linear programming problem in standard form. Solution not necessary.
(e.g., Max 30x1 + 50x2 +20x3 etc) with the constraints. Quantitative Methods in Business – Linear Programming 1- Statement of the Problem: Middle East for investment offers a bundle of investment options in many types of securities. Mr. Brown, an investor, would like to invest $ 5 million in various securities.Download