Topics include Monte Carlo methods, discrete-event modeling, a specialized simulation language, and the statistics of input and output analysis. Introduction to forecasting that examines alternative models and their application to a variety of business operations. Topics include trend analysis, moving averages, exponential smoothing, adaptive models, multiple regression and correlation, and time series analysis. Development of the basic concepts and procedures associated with a quality control system. Extensive use is made of modeling and statistical inference in monitoring and evaluating performance quality control functions.
Emphasis is placed on the management aspect of the quality control system.
Both microcomputers and cases are used. Cross listed as MGMT 493. Technology development and implementation is a key to business success in the 21st century. Study of forecasting techniques that are employed in the private and public sector. Primary emphasis is on time series techniques.