Introduction to Quantitative Methods in Business 1st edition by Bharat Kolluri, Michael Panik, Rao Singamsetti ISBN B01I5WZ8L0 978-1119220992

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ISBN 10: B01I5WZ8L0
ISBN 13: 978-1119220992
Author: Bharat Kolluri, Michael Panik, Rao Singamsetti

A well-balanced and accessible introduction to the elementary quantitative methods and Microsoft® Office Excel® applications used to guide business decision making

Featuring quantitative techniques essential for modeling modern business situations, Introduction to Quantitative Methods in Business: With Applications Using Microsoft® Office Excel® provides guidance to assessing real-world data sets using Excel. The book presents a balanced approach to the mathematical tools and techniques with applications used in the areas of business, finance, economics, marketing, and operations.

The authors begin by establishing a solid foundation of basic mathematics and statistics before moving on to more advanced concepts. The first part of the book starts by developing basic quantitative techniques such as arithmetic operations, functions and graphs, and elementary differentiations (rates of change), and integration. After a review of these techniques, the second part details both linear and nonlinear models of business activity. Extensively classroom-tested, Introduction to Quantitative Methods in Business: With Applications Using Microsoft® Office Excel® also includes:

• Numerous examples and practice problems that emphasize real-world business quantitative techniques and applications

• Excel-based computer software routines that explore calculations for an assortment of tasks, including graphing, formula usage, solving equations, and data analysis

• End-of-chapter sections detailing the Excel applications and techniques used to address data and solutions using large data sets

• A companion website that includes chapter summaries, Excel data sets, sample exams and quizzes, lecture slides, and an Instructors’ Solutions Manual

Introduction to Quantitative Methods in Business: With Applications Using Microsoft® Office Excel® is an excellent textbook for undergraduate-level courses on quantitative methods in business, economics, finance, marketing, operations, and statistics. The book is also an ideal reference for readers with little or no quantitative background who require a better understanding of basic mathematical and statistical concepts used in economics and business.

Bharat Kolluri, Ph.D., is Professor of Economics in the Department of Economics, Finance, and Insurance at the University of Hartford. A member of the American Economics Association, his research interests include econometrics, business statistics, quantitative decision making, applied macroeconomics, applied microeconomics, and corporate finance.

Michael J. Panik, Ph.D., is Professor Emeritus in the Department of Economics, Finance, and Insurance at the University of Hartford. He has served as a consultant to the Connecticut Department of Motor Vehicles as well as to a variety of health care organizations. In addition, Dr. Panik is the author of numerous books, including Growth Curve Modeling: Theory and Applications and Statistical Inference: A Short Course, both published by Wiley.

Rao N. Singamsetti, Ph.D., is Associate Professor in the Department of Economics, Finance, and Insurance at the University of Hartford. A member of the American Economics Association, his research interests include the status of war on poverty in the United States since the 1960s and forecasting foreign exchange rates using

Introduction to Quantitative Methods in Business 1st Table of contents:

Chapter 1: The Mathematical Toolbox

1.1 Introduction

1.2 Linear Functions

1.3 Solving A Simple Linear Equation for One Unknown Variable

1.4 Summation Notation

1.5 Sets

1.6 Functions and Graphs

1.7 Working with Functions

1.8 Differentiation and Integration

1.9 Excel Applications

Chapter 1 Review

Exercises

Excel Applications

Appendix 1.A: A Review of Basic Mathematics

Exercises

Chapter 2: Applications of Linear and Nonlinear Functions

2.1 Introduction

2.2 Linear Demand and Supply Functions

2.3 Linear Total Cost and Total Revenue Functions

2.4 Market Equilibrium

2.5 Graphical Presentation of Equilibrium

2.6 Applications of Nonlinear Functions

2.7 Present Value of an Income Stream

2.8 Average Values

2.9 Marginal Values

2.10 Elasticity

2.11 Some Additional Business Applications

2.12 Excel Applications

Chapter 2 Review

Exercises

Excel Applications

Chapter 3: Optimization

3.1 Introduction

3.2 Unconstrained Optimization

3.3 Models of Cost Minimization: Inventory Cost Functions and EOQ

3.4 Constrained Optimization: Linear Programming

3.5 Excel Applications

Chapter 3 Review

Chapter 3 Exercises

Excel Applications

Chapter 4: What Is Business Statistics?

4.1 Introduction

4.2 Data Description

4.3 Descriptive Statistics: Tabular and Graphical Techniques

4.4 Descriptive Statistics: Numerical Measures of Central Tendency or Location of Data

4.5 Descriptive Statistics: Measures of Dispersion—Variability or Spread

4.6 Measuring Skewness

4.7 Excel Applications

Chapter 4 Review

Exercises

Excel Applications

Chapter 5: Probability and Applications

5.1 Introduction

5.2 Some Useful Definitions

5.3 Probability Sources

5.4 Some Useful Definitions Involving Sets of Events in the Sample Space

5.5 Probability Laws

5.6 Contingency Table

5.7 Excel Applications

Chapter 5 Review

Exercises

Excel Applications

Chapter 6: Random Variables and Probability Distributions

6.1 Introduction

6.2 Probability Distribution of A Discrete Random Variable X

6.3 Expected Value, Variance, and Standard Deviation of A Discrete Random Variable X

6.4 Continuous Random Variables and Their Probability Distributions

6.5 A Specific Discrete Probability Distribution: The Binomial Case

6.6 Excel Applications

Chapter 6 Review

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Tags: Bharat Kolluri, Michael Panik, Rao Singamsetti, Quantitative Methods