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Data, Models, and Decisions: The Fundamentals of Management Science

by Dimitris Bertsimas and Robert M. Freund

published by Dynamic Ideas, LLC 2004

 

This textbook combines topics from two traditionally distinct quantitative subjects, probability/statistics and management science, into one unified treatment of quantitative methods and models for management and business. The book stresses those fundamental concepts that are the most important for the practical analysis of management decisions. It focuses on modeling and evaluating uncertainty explicitly, understanding the dynamic nature of decision making, using historical data and limited information effectively, simulating complex systems, and allocating scarce resources optimally.

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