Quantitative Methods (eBook)

An accessible introduction to the essential quantitative methods
for making valuable business decisions

Quantitative methods-research techniques used to analyze
quantitative data-enable professionals to organize and understand
numbers and, in turn, to make good decisions. Quantitative
Methods: An Introduction for Business Management presents the
application of quantitative mathematical modeling to decision
making in a business management context and emphasizes not only the
role of data in drawing conclusions, but also the pitfalls of
undiscerning reliance of software packages that implement standard
statistical procedures. With hands-on applications and explanations
that are accessible to readers at various levels, the book
successfully outlines the necessary tools to make smart and
successful business decisions.

Progressing from beginner to more advanced material at an
easy-to-follow pace, the author utilizes motivating examples
throughout to aid readers interested in decision making and also
provides critical remarks, intuitive traps, and counterexamples
when appropriate.

The book begins with a discussion of motivations and foundations
related to the topic, with introductory presentations of concepts
from calculus to linear algebra. Next, the core ideas of
quantitative methods are presented in chapters that explore
introductory topics in probability, descriptive and inferential
statistics, linear regression, and a discussion of time series that
includes both classical topics and more challenging models. The
author also discusses linear programming models and decision making
under risk as well as less standard topics in the field such as
game theory and Bayesian statistics. Finally, the book concludes
with a focus on selected tools from multivariate statistics,
including advanced regression models and data reduction methods
such as principal component analysis, factor analysis, and cluster
analysis.

The book promotes the importance of an analytical approach,
particularly when dealing with a complex system where multiple
individuals are involved and have conflicting incentives. A related
website features Microsoft Excelstyle="font-family:">® workbooks and MATLABstyle="font-family:">® scripts to illustrate concepts
as well as additional exercises with solutions.

Quantitative Methods is an excellent book for courses on
the topic at the graduate level. The book also serves as an
authoritative reference and self-study guide for financial and
business professionals, as well as readers looking to reinforce
their analytical skills.