IMPORTANCE OF QUANTITATIVE TECHNIQUES IN …

AMETJ ournal ofManagement71 Jan June2011 IMPORTANCEOFQUANTITATIVETECHNIQUESINMANA GERIALDECISIONSA bstractTheterm Quantitativetechniques refers to themethods used to quantifythevariables in meanstheapplication of subjects likemathematics and statistics,econometricsand operations researchto understandand a studyof theapplication of differentialcalculus,integralcalculus and matrixalgebra,measuresofcentraltendencie s,measures of averages,correlation also includes theapplication of thetechniques ofmanagement sciencesuch asLinearprogramming, Gametheory,CPMandPERT analyses to business usefulness ofQuantitativeTechniques in sevenfunctional areas ofManagement arediscussed in this :Truly,the importanceof Quantitativeproficiencycannotbeoverempha sizedto ManagementProfessionals!Thisbody ofknowledgeinvolvingquantitativeapproach eshasbeengivenvariousnames like-BusinessMathematics,BusinessStatist ics,OperationsResearch, withrationalapproaches todecisionmakingbasedonthescientificmeth od.

AMET Journal of Management 71 Jan – June 2011 IMPORTANCE OF QUANTITATIVE TECHNIQUES IN MANAGERIAL DECISIONS Abstract The term ‘Quantitative techniques’ refers to the methods used to quantify

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  Technique, Decision, Quantitative, Managerial, Of quantitative techniques in, Of quantitative techniques in managerial decisions

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