units

FIT5097

Faculty of Information Technology

Postgraduate - Unit

This unit entry is for students who completed this unit in 2013 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

print version

6 points, SCA Band 2, 0.125 EFTSL

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LevelPostgraduate
FacultyFaculty of Information Technology
OfferedCaulfield Second semester 2013 (Evening)

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.

Outcomes

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): 60%; In-semester assessment: 40%

Chief examiner(s)

Contact hours

2 hrs lectures/wk, 2 hrs laboratories/wk

This unit applies to the following area(s) of study

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: