文档介绍：Chapter 1
To accompany Quantitative Analysis for Management, Eleventh Edition, by Render, Stair, and Hanna
Power Point12 Pearson Education, Inc. publishing as Prentice Hall
Meaningful
Information
Quantitative
Analysis
Quantitative analysis is a scientific approach to managerial decision making in which raw data are processed and manipulated to produce meaningful information.
What is Quantitative Analysis?
Raw Data
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Quantitative factors are data that can be accurately calculated. Examples include:
Different investment alternatives
Interest rates
Inventory levels
Demand
Labor cost
Qualitative factors are more difficult to quantify but affect the decision process. Examples include:
The weather
State and federal legislation
Technological breakthroughs.
What is Quantitative Analysis?
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Implementing the Results
Analyzing the Results
Testing the Solution
Developing a Solution
Acquiring Input Data
Developing a Model
The Quantitative Analysis Approach
Defining the Problem
Figure
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Defining the Problem
Develop a clear and concise statement that gives direction and meaning to subsequent steps.
This may be the most important and difficult step.
It is essential to go beyond symptoms and identify true causes.
It may be necessary to concentrate on only a few of the problems – selecting the right problems is very important
Specific and measurable objectives may have to be developed.
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Developing a Model
Quantitative analysis models are realistic, solvable, and understandable mathematical representations of a situation.
There are different types of models:
$ Advertising
$ Sales
Y = b0 + b1X
Schematic models
Scale models
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