Course objectives:
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The students are familiar with probabilistic models usable in management (Markov chains, queuing systems, inventory models). The students are able to use these models to solve the managerial decision problems with help of available software products.
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Requirements on student
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Credit:
Elaborate a seminar paper.
Credit Test.
Examination:
The examination is combined, consisting of a practical part and a theoretical part.
More detailed information is given in Moodle.
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Content
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Introduction to modelling and mathematical models in management.
Stochastic models.
Markov chains.
Decision making processes in Markov systems.
Simulation as a method of business process analysis.
Simulation models.
Simulation SW.
Queuing systems, waiting line models.
Optimization of waiting line models using simulation methods.
Inventory theory.
Inventory control optimization models and their optimization.
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Activities
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Fields of study
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Guarantors and lecturers
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Literature
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Basic:
Lukáš, L. Pravděpodobnostní modely v managementu - Markovovy řetězce a systémy hromadné obsluhy. Academia Praha, 2009. ISBN 978-80-200-1704-8.
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Basic:
Dlouhý, Martin. Simulace podnikových procesů. 2., rozš. vyd. Brno : Computer Press, 2011. ISBN 978-80-251-3449-8.
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Recommended:
Plevný, Miroslav; Žižka, Miroslav. Modelování a optimalizace v manažerském rozhodování. Vyd. 2. Plzeň : Západočeská univerzita, 2010. ISBN 978-80-7043-933-3.
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Recommended:
Lukáš, L. Pravděpodobnostní modely v managementu - Teorie zásob a statistický popis poptávky. Praha, 2012. ISBN 978-80-200-2005-5.
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Recommended:
Neapolitan, Richard E. Probabilistic methods for financial and marketing informatics. 1st pub. San Francisco : Morgan Kaufmann, 2008. ISBN 978-0-08-055567-6.
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Recommended:
Schwarz, Maike. Stochastic models in inventory theory. Aachen : Shaker Verlag, 2004. ISBN 3-8322-2876-4.
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On-line library catalogues
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Time requirements
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All forms of study
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Activities
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Time requirements for activity [h]
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Preparation for comprehensive test (10-40)
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24
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Graduate study programme term essay (40-50)
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40
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Contact hours
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52
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Preparation for an examination (30-60)
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40
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Total
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156
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Prerequisites
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Knowledge - students are expected to possess the following knowledge before the course commences to finish it successfully: |
to know the concepts of the business economics and management |
to understand knowledge of mathematics and statistics at the bachelor level of the economic study programmes |
to have knowledge of basic concepts and tools of management science |
Skills - students are expected to possess the following skills before the course commences to finish it successfully: |
describe random variable using distribution and calculate its characteristics |
select suitable distribution of random variable and use it for solution of practical problems |
Competences - students are expected to possess the following competences before the course commences to finish it successfully: |
N/A |
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Learning outcomes
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Knowledge - knowledge resulting from the course: |
to identify and to define specific managerial problems to be modelled as probabilistic model |
to identify relevant information, links and relationships needed to solve a given problem |
to evaluate and interpret the obtained solutions that are initially specified in terms of practice-oriented problem |
Skills - skills resulting from the course: |
to build a model of a given problem and choose the appropriate method for its solution |
to solve the given probabilistic model using simulation techniques |
Competences - competences resulting from the course: |
N/A |
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Assessment methods
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Knowledge - knowledge achieved by taking this course are verified by the following means: |
Test |
Combined exam |
Skills - skills achieved by taking this course are verified by the following means: |
Skills demonstration during practicum |
Seminar work |
Competences - competence achieved by taking this course are verified by the following means: |
Seminar work |
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Teaching methods
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Knowledge - the following training methods are used to achieve the required knowledge: |
Lecture |
Practicum |
Self-study of literature |
Skills - the following training methods are used to achieve the required skills: |
Task-based study method |
Individual study |
Competences - the following training methods are used to achieve the required competences: |
N/A |
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