An introduction to statistics and data analytics in business that supports business decisions and the solution to business problems utilizing descriptive and inferential statistical concepts and methods. Topics include grouping of data, measures of central tendency and dispersion, probability concepts, sampling, statistical estimation, and statistical hypothesis testing. Prerequisite: MTH 1112 and IS 2241.
An introduction to quantitative techniques applicable to business and economics. Topics include queuing analysis, transportation programming, PERT/CPM, and simple linear regression. Prerequisite: QM 2241.
A study of how organizational processes add value as they convert inputs to outputs. Topics covered include the strategic relationship of operations with other functional organizations, value chain concepts, and quantitative methods including forecasting models, inventory models, statistical process control, process models and project management methods. The course also provides a review of current supply chain philosophies such as JIT, MRP, and EOQ inventory management methods. Prerequisites: Lower-level Core, MGT 3300, QM 2241, IS 2241.