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ERIC Number: ED282288
Record Type: Non-Journal
Publication Date: 1986
Pages: 34
Abstractor: N/A
ISBN: N/A
ISSN: N/A
EISSN: N/A
Quantitative Decision Making.
Baldwin, Grover H.
The use of quantitative decision making tools provides the decision maker with a range of alternatives among which to decide, permits acceptance and use of the optimal solution, and decreases risk. Training line administrators in the use of these tools can help school business officials obtain reliable information upon which to base district decisions. This chapter of "Principles of School Business Management" opens by discussing the essentials of the problem-solving process, including the definition of problems and the development of models that will permit effective testing of proposed solutions to problems. Special attention is paid to decision logic tables and the importance of mathematical techniques. The chapter then describes the characteristics and application of linear programming, particularly in relation to resource allocation. The influence of risk factors on decision making is reviewed next, and the value and applications of decision trees are analyzed. The use of deterministic models in inventory control is the chapter's next topic; the technique called Economic Order Quantity is stressed. The chapter concludes with an examination of Multi Criteria Decision Making, a tool used when several factors affect decisions. Ten sources are cited in footnotes, and 23 tables illustrate application of the techniques discussed. (PGD)
Publication Type: Guides - Classroom - Learner; Information Analyses
Education Level: N/A
Audience: Administrators; Students; Practitioners
Language: English
Sponsor: N/A
Authoring Institution: Association of School Business Officials International, Reston, VA.
Grant or Contract Numbers: N/A