units

FIT5097

Faculty of Information Technology

Skip to content | Change text size
 

print version

Monash University Handbook 2010 Postgraduate - Unit

6 points, SCA Band 2, 0.125 EFTSL

LevelPostgraduate
FacultyFaculty of Information Technology
OfferedCaulfield Second semester 2010 (Evening)
Coordinator(s)Associate Professor Chung-Hsing Yeh

Synopsis

This unit introduces students to the principles, techniques and applications of computer-based decision support models for business and industry. Topics include: decision trees; linear programming and optimisation; other mathematical programming methods; waiting lines and queues; time series analysis and forecasting; inventory modelling and discrete-event simulation. Models will be built and solved using spreadsheets or other computer applications as appropriate.

Objectives

At the completion of this unit students will:

  • have knowledge of a variety of techniques for modelling business decision problems;
  • be able to choose the appropriate decision model for a particular problem;
  • have skills in setting up simple models and solving with hand calculations;
  • have skills in setting up mathematical models for solution in a spreadsheet or other application software;
  • have skills in the validation of models and conducting a sensitivity analysis.
  • have skills in analysing a real problem and reporting the results;
  • understand the difficulty of applying models to real situations, which often requires that approximations, simplifications and generalisations be made;
  • understand that the approximate nature of some types of business modelling means that a sensitivity analysis be conducted.

Assessment

Examination (2 hours): 70%; In-semester assessment: 30%

Chief examiner(s)

Dr John Betts

Contact hours

2 hrs lectures/wk, 2 hrs laboratories/wk

Prerequisites

At least one quantitative unit (such as Mathematics or Statistics) in an undergraduate degree.

Prohibitions

BUS5570

Additional information on this unit is available from the faculty at:

http://www.infotech.monash.edu.au/units/fit5097