British Columbia Institute of Technologywww.bcit.ca/study/courses/opmt8751

Important Notice: COVID-19 Institute response

BCIT

OPMT 8751 - Decision Analysis

Operations Management Part-time Studies Course

School of Business + Media

To support you and your education, BCIT is adapting applied learning in formats appropriate to the unfolding global situation. All PTS classes are being delivered in an online format unless you are notified otherwise.

Course Details

Presents a second course in the application of statistical methods to business problems. The course will provide detailed theoretical understanding and practical applications of two of the most commonly used techniques in mathematical modeling Linear Regression and Time Series Analysis. You will learn how to view business situations as mathematical models and formulate the equations required for the model solution. Extensive lab work using computer software will lead to theoretical solutions. You will then learn how to interpret these solutions as a guide to practical management action. The course provides the opportunity to use and evaluate current software.

Prerequisite(s)

Acceptance into the Bachelor of Business Administration program.

Credits

4.0

Cost

$787.56

Spring/Summer 2021

Below is one offering of this course for the Spring/Summer 2021 term.

CRN 64331

Tue Apr 20 - Tue Jul 27 15 Weeks

Class Meeting Times

Dates Days Times Locations
Apr 20 - Jul 27 Online Delivery
See Notes below
Jul 27 Tue 18:00 - 21:00 Online Delivery
See Notes below

Instructor

Leslie Major

Course Outline

Cost

$787.56

Notes

  1. Internet delivery format.
  2. Departmental approval needed
  3. Enrollment is restricted to students accepted into the Bachelor of Business Administration Degree Program. Registration approval is automatically given upon full acceptance into the part-time program. Please note that this is an online course with no synchronous component, and the final exam will be held remotely July 27.

This course offering is in progress and full. Please check back next term or subscribe to receive email updates.

In Progress and Full

Learning Outcomes

Upon successful completion of this course the student will be able to:

  • Use smoothing methods such as moving averages, exponential smoothing, Holt's and Holt-Winters' methods to predict time series.
  • Use a scatter plot to identify trend or seasonality in a time series.
  • Choose an appropriate forecasting method based on the characteristics of a time series.
  • Use a runs test to determine if a time series has the characteristics of a random walk series.
  • Forecast a series where appropriate using the random walk model.
  • Use linear regression to forecast or model business situations.
  • Evaluate the validity of linear regression in a given situation.
  • Assess the usefulness of linear regression in a given situation.
  • Select the most appropriate method for forecasting or modelling in a given situation.
  • Interpret the meaning of the coefficients and statistics generated by different mathematical models.
  • Analyse business mathematical models using Microsoft Excel 2002 (XP) together with add-ins provided.
  • Convert theoretical solutions into practical management terms.

Effective as of Fall 2015

Related Programs

OPMT 8751 is offered as a part of the following programs:

School of Business + Media

  1. Bachelor of Business Administration
    Full-time/Part-time   Bachelor of Business Administration

Subscribe

Interested in being notified about future offerings of OPMT 8751 - Decision Analysis? If so, fill out the information below and we'll notify you by email when courses for each new term are displayed here.

Privacy Notice: The information you provide will be used to respond your request related to BCIT course information and is collected under Section 26(c) of the Freedom of Information and Protection of Privacy Act (FIPPA). For more information about BCIT’s privacy practices contact: Associate Director, Privacy, Information Access & Policy Management, British Columbia Institute of Technology, 3700 Willingdon Ave. Burnaby, BC V5A 3H2, email: privacy@bcit.ca.

Programs and courses are subject to change without notice.

Find Courses

School of Business + Media Waitlist

Need to waitlist for a School of Business + Media course?

Find out more

English Language Proficiency

BCIT's Part-time Studies English Language Proficiency Standard is English 12 (or equivalency). Students who do not meet this requirement should upgrade their English skills prior to any future registration.

Payment Changes At BCIT

We've changed the way we accept payments.

Find out more

Course Navigation, Related Links & Tools

Registration News

Registration is currently open for the Spring/Summer 2021 term.

The sneak preview for the Fall 2021 term starts Fri, May 21 at 8:30 am (PDT).

Students may register for Fall 2021 term courses online or by phone starting Wed, May 26 at 9:00 am (PDT).

Classroom Locations

Classroom locations are subject to last minute changes. Please check the Part-time Studies Classroom Locations listing at www.bcit.ca/rooms on the first day of any course you are registered for.

Part-time Studies Financial Aid

Will you be studying at BCIT part-time? Do you need assistance funding your studies? Find out if you qualify for Part-time Studies financial aid.

© BCIT