BEC460 QUANTITATIVE METHODS

Quantitative Methods tools are not from any one discipline. Quantitative Methods takes tools from

different discipline such as mathematics, statistics, economics, psychology, engineering etc. and

combines these tools to make a new set of knowledge for decision making. Today, QM. became a

professional discipline which deals with the application of scientific methods for making decision, and

especially to the allocation of scarce resources. The main purpose of QM. is to provide a rational basis

for decisions making in the absence of complete information, because the systems composed of human,

machine, and procedures may do not have complete information.