The purpose of this course is to help students understand how complex business problems can be analyzed, modeled and solved in an optimal manner. The course begins with a review of decision making under risk and uncertainty. Specific emphasis is then placed on the use and application of decision trees including the incorporation of utility theory. The course then moves on to the use and application of mathematical optimization models including linear programming, network models and integer programming. Finally, the course covers the topic of simulation. Students learn to develop spreadsheet models for making complex business decisions, as well as interpret the results of such models.
