Course Detail
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| QUANTITATIVE METHODS for BUSINESS DECISION MAKING | YBS3157430 | Fall Semester | 3+0 | 3 | 5 |
| Course Program | Perşembe 09:00-09:45 Perşembe 10:00-10:45 Perşembe 11:00-11:45 |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | Turkish |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assist.Prof. Mutlu GÜRSOY |
| Name of Lecturer(s) | Assoc.Prof. Fatma Serab ONURSAL |
| Assistant(s) | |
| Aim | Students are aimed to have the necessary qualifications and background to be able to formulate and solve business decision problems using such quantitative techniques as single and multi criteria decision analysis, markov analysis, simulation modeling. |
| Course Content | This course contains; Course Promotion and Content Sharing,Decision Theory, Its Importance and Basic Concepts,Decision Process,Conceptual and Analytical Approaches in Decision Analysis,Problem Solving, What is Brainstorming?, What are Fishbone Diagrams used for?,Decision Making Under Certainty,Decision Making Under Uncertainty,Decision Making Under Risk,Multi-Criteria Decision Making Methods,Analytic Hierarchy Process (AHP),Decision Support Systems,Operational Research,Theory of Constraints (TOC) Thinking Process,Markov Analysis, Simulation, Q&A. |
| Dersin Öğrenme Kazanımları | Teaching Methods | Assessment Methods |
| 1. Will be able to describe the elements of decision theory and the distinction between individual and group decisions | 16, 9 | A, G |
| 1.1 Express what needs to be considered when determining objective, alternatives, and states of the nature for a decision process | 16, 9 | |
| 1.2 Describe the characteristics of both individual and group decisions | 16, 9 | |
| 2. Will be able to realize the solutions of decision making under uncertainty and risk | 12, 13, 14, 16, 9 | A, G |
| 2.1 Use such basic strategies as maximin, maximax, insufficient reason, and minimax regret for decision problems under uncertainty | ||
| 2.2 Use such basic strategies as expected value, maximum likelihood, and expected value of perfect information for decision problems under risk | ||
| 3. Will be able to express the value of experimentation in decision process | 13, 16, 9 | A, G |
| 3.1 Construct probability tree diagrams | ||
| 3.2 Revise probability estimates using Bayesian analysis | ||
| 4. Will be able to determine future states or conditions by using Markov analysis | 16, 9 | A, G |
| 4.1 Express the location of markov process models in decision process | ||
| 4.2 Compute long-term or steady-state conditions by using only the matrix of transition probabilities | ||
| 5. Will be able to design multi-criteria decision problems | 12, 13, 14, 16, 9 | A, G |
| 5.1 Tell the importance of building decision frame for a multicriteria decision making problem | ||
| 5.2 Use such techniques as Analytic Hierarchy Process, Macbeth, Electre, and Smart for multicriteria decision making process | ||
| 6. Will be able to explain the advantages and disadvantages of simulation | 16, 9 | A, G |
| 6.1 Locate the necessity of simulation technique in a decision process | ||
| 6.2 Construct simple simulation models using Excel |
| Teaching Methods: | 12: Problem Solving Method, 13: Case Study Method, 14: Self Study Method, 16: Question - Answer Technique, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam, G: Quiz |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Course Promotion and Content Sharing | |
| 2 | Decision Theory, Its Importance and Basic Concepts | |
| 3 | Decision Process | |
| 4 | Conceptual and Analytical Approaches in Decision Analysis | |
| 5 | Problem Solving, What is Brainstorming?, What are Fishbone Diagrams used for? | |
| 6 | Decision Making Under Certainty | |
| 7 | Decision Making Under Uncertainty | |
| 8 | Decision Making Under Risk | |
| 9 | Multi-Criteria Decision Making Methods | |
| 10 | Analytic Hierarchy Process (AHP) | |
| 11 | Decision Support Systems | |
| 12 | Operational Research | |
| 13 | Theory of Constraints (TOC) Thinking Process | |
| 14 | Markov Analysis, Simulation, Q&A |
| Resources |
| 1 - Quantitative Analysis for Management (2012), B.Render, R.M. Stair, M.E.Hanna, Pearson 2 - Karar Verme (2015), Prof. Dr. Mustafa AYTAÇ, Prof. Dr. Necmi GÜRSAKAL, Dora Yayıncılık 3 - Karar Verme Yöntemleri (2010), Doç. Dr. Kaan YARALIOĞLU, Detay Yayıncılık |
| 4 - Çok Kriterli Karar Verme (2015), B. Fatih YILDIRIM, Emrah ÖNDER (Editörler), Dora Yayıncılık 5 - Çok Kriterli Karar Verme (2019), Dr. Ejder AYÇİN, Nobel Ak. Yayıncılık |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | Defines the theoretical issues in the field of information and management. | X | |||||
| 2 | Describes the necessary mathematical and statistical methods in the field of information and management. | X | |||||
| 3 | Uses at least one computer program in the field of information and management. | X | |||||
| 4 | Sustains proficiency in a foreign language requiredor information and management studies. | ||||||
| 5 | Prepares informatics/software projects and work in a team. | ||||||
| 6 | Constantly updates himself / herself by following developments in science and technology with an understanding of the importance of lifelong learning through critically evaluating the knowledge and skills that s/he has got.7. Uses theoretical and practical expertise in the field of information and management | ||||||
| 7 | Follows up-to-date technology using a foreign language at least A1 level, holds verbal / written communication skills. | X | |||||
| 8 | Follows up-to-date technology using a foreign language at least A1 level, holds verbal / written communication. | ||||||
| 9 | Adopts organizational / institutional and social ethical values. | ||||||
| 10 | Within the framework of community involvement adopts social responsibility principles and takes initiative when necessary. | ||||||
| 11 | Uses and analyses basic facts and data in various disciplines (economics, finance, sociology, law, business) in order to conduct interdisciplinary studies. | X | |||||
| 12 | Writes software in different platforms such as desktop, mobile, web on its own and / or in a team. | ||||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 40 | |
| Rate of Final Exam to Success | 60 | |
| Total | 100 | |
| ECTS / Workload Table | ||||||
| Activities | Number of | Duration(Hour) | Total Workload(Hour) | |||
| Course Hours | 14 | 2 | 28 | |||
| Guided Problem Solving | 14 | 2 | 28 | |||
| Resolution of Homework Problems and Submission as a Report | 6 | 4 | 24 | |||
| Term Project | 0 | 0 | 0 | |||
| Presentation of Project / Seminar | 1 | 20 | 20 | |||
| Quiz | 1 | 10 | 10 | |||
| Midterm Exam | 1 | 15 | 15 | |||
| General Exam | 1 | 25 | 25 | |||
| Performance Task, Maintenance Plan | 0 | 0 | 0 | |||
| Total Workload(Hour) | 150 | |||||
| Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(150/30) | 5 | |||||
| ECTS of the course: 30 hours of work is counted as 1 ECTS credit. | ||||||
Detail Informations of the Course
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| QUANTITATIVE METHODS for BUSINESS DECISION MAKING | YBS3157430 | Fall Semester | 3+0 | 3 | 5 |
| Course Program | Perşembe 09:00-09:45 Perşembe 10:00-10:45 Perşembe 11:00-11:45 |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | Turkish |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assist.Prof. Mutlu GÜRSOY |
| Name of Lecturer(s) | Assoc.Prof. Fatma Serab ONURSAL |
| Assistant(s) | |
| Aim | Students are aimed to have the necessary qualifications and background to be able to formulate and solve business decision problems using such quantitative techniques as single and multi criteria decision analysis, markov analysis, simulation modeling. |
| Course Content | This course contains; Course Promotion and Content Sharing,Decision Theory, Its Importance and Basic Concepts,Decision Process,Conceptual and Analytical Approaches in Decision Analysis,Problem Solving, What is Brainstorming?, What are Fishbone Diagrams used for?,Decision Making Under Certainty,Decision Making Under Uncertainty,Decision Making Under Risk,Multi-Criteria Decision Making Methods,Analytic Hierarchy Process (AHP),Decision Support Systems,Operational Research,Theory of Constraints (TOC) Thinking Process,Markov Analysis, Simulation, Q&A. |
| Dersin Öğrenme Kazanımları | Teaching Methods | Assessment Methods |
| 1. Will be able to describe the elements of decision theory and the distinction between individual and group decisions | 16, 9 | A, G |
| 1.1 Express what needs to be considered when determining objective, alternatives, and states of the nature for a decision process | 16, 9 | |
| 1.2 Describe the characteristics of both individual and group decisions | 16, 9 | |
| 2. Will be able to realize the solutions of decision making under uncertainty and risk | 12, 13, 14, 16, 9 | A, G |
| 2.1 Use such basic strategies as maximin, maximax, insufficient reason, and minimax regret for decision problems under uncertainty | ||
| 2.2 Use such basic strategies as expected value, maximum likelihood, and expected value of perfect information for decision problems under risk | ||
| 3. Will be able to express the value of experimentation in decision process | 13, 16, 9 | A, G |
| 3.1 Construct probability tree diagrams | ||
| 3.2 Revise probability estimates using Bayesian analysis | ||
| 4. Will be able to determine future states or conditions by using Markov analysis | 16, 9 | A, G |
| 4.1 Express the location of markov process models in decision process | ||
| 4.2 Compute long-term or steady-state conditions by using only the matrix of transition probabilities | ||
| 5. Will be able to design multi-criteria decision problems | 12, 13, 14, 16, 9 | A, G |
| 5.1 Tell the importance of building decision frame for a multicriteria decision making problem | ||
| 5.2 Use such techniques as Analytic Hierarchy Process, Macbeth, Electre, and Smart for multicriteria decision making process | ||
| 6. Will be able to explain the advantages and disadvantages of simulation | 16, 9 | A, G |
| 6.1 Locate the necessity of simulation technique in a decision process | ||
| 6.2 Construct simple simulation models using Excel |
| Teaching Methods: | 12: Problem Solving Method, 13: Case Study Method, 14: Self Study Method, 16: Question - Answer Technique, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam, G: Quiz |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Course Promotion and Content Sharing | |
| 2 | Decision Theory, Its Importance and Basic Concepts | |
| 3 | Decision Process | |
| 4 | Conceptual and Analytical Approaches in Decision Analysis | |
| 5 | Problem Solving, What is Brainstorming?, What are Fishbone Diagrams used for? | |
| 6 | Decision Making Under Certainty | |
| 7 | Decision Making Under Uncertainty | |
| 8 | Decision Making Under Risk | |
| 9 | Multi-Criteria Decision Making Methods | |
| 10 | Analytic Hierarchy Process (AHP) | |
| 11 | Decision Support Systems | |
| 12 | Operational Research | |
| 13 | Theory of Constraints (TOC) Thinking Process | |
| 14 | Markov Analysis, Simulation, Q&A |
| Resources |
| 1 - Quantitative Analysis for Management (2012), B.Render, R.M. Stair, M.E.Hanna, Pearson 2 - Karar Verme (2015), Prof. Dr. Mustafa AYTAÇ, Prof. Dr. Necmi GÜRSAKAL, Dora Yayıncılık 3 - Karar Verme Yöntemleri (2010), Doç. Dr. Kaan YARALIOĞLU, Detay Yayıncılık |
| 4 - Çok Kriterli Karar Verme (2015), B. Fatih YILDIRIM, Emrah ÖNDER (Editörler), Dora Yayıncılık 5 - Çok Kriterli Karar Verme (2019), Dr. Ejder AYÇİN, Nobel Ak. Yayıncılık |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | Defines the theoretical issues in the field of information and management. | X | |||||
| 2 | Describes the necessary mathematical and statistical methods in the field of information and management. | X | |||||
| 3 | Uses at least one computer program in the field of information and management. | X | |||||
| 4 | Sustains proficiency in a foreign language requiredor information and management studies. | ||||||
| 5 | Prepares informatics/software projects and work in a team. | ||||||
| 6 | Constantly updates himself / herself by following developments in science and technology with an understanding of the importance of lifelong learning through critically evaluating the knowledge and skills that s/he has got.7. Uses theoretical and practical expertise in the field of information and management | ||||||
| 7 | Follows up-to-date technology using a foreign language at least A1 level, holds verbal / written communication skills. | X | |||||
| 8 | Follows up-to-date technology using a foreign language at least A1 level, holds verbal / written communication. | ||||||
| 9 | Adopts organizational / institutional and social ethical values. | ||||||
| 10 | Within the framework of community involvement adopts social responsibility principles and takes initiative when necessary. | ||||||
| 11 | Uses and analyses basic facts and data in various disciplines (economics, finance, sociology, law, business) in order to conduct interdisciplinary studies. | X | |||||
| 12 | Writes software in different platforms such as desktop, mobile, web on its own and / or in a team. | ||||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 40 | |
| Rate of Final Exam to Success | 60 | |
| Total | 100 | |