This course uses tools such as decision trees to draw conclusions from data. (Figure by MIT OpenCourseWare, adapted from the Data, Models, and Decisions textbook.)
This course is designed to introduce first-year MBA students to the fundamental quantitative techniques of using data to make informed management decisions. In particular, the course focuses on various ways of modeling, or thinking structurally about, decision problems in order to enhance decision-making skills. Topics include decision analysis, probability, random variables, statistical estimation, regression, simulation, linear optimization, as well as nonlinear and discrete
optimization. Management cases are used extensively to illustrate the practical use of modeling tools to improve the management practice.
For any use or distribution of these materials, please cite as follows:
Robert Freund, David Gamarnik, and Andreas Schulz, course materials for 15.060 Data, Models, and Decisions, Fall 2007. MIT OpenCourseWare (http://ocw.mit.edu), Massachusetts Institute of Technology. Downloaded on [DD Month YYYY].