Please join Barney School of Business Dean Marty Roth in congratulating Barney School of Business Professor of Economics, Bharat Kolluri, on his recent invited article acceptance. "Introduction to Quantitative Methods in Business with Applications Using Microsoft® Office Excel®” will appear in Wiley StatsRef: Statistics Reference Online, a comprehensive online reference resource for students, teachers, and researchers which covers the fundamentals and applications of statistics in all fields where it is widely used.
Abstract: The purpose of this article is to underscore the need of Quantitative methods and techniques with a variety of applications ranging from simple examples and exercises to Excel applications. The main focus and emphasis is on the various functional areas of business, ranging from Economics, Finance, and others, utilizing real world data in all the applications. The first half of this article deals with topics that range from the usage of basic mathematical tools in business, such as basic elements of differentiation and integration, that are relevant to business, modeling with linear and non-linear functions, optimization, including EOQ models, linear programming, to name but a few. The second half deals with descriptive statistics, probability, and introduction to distributions. Excel has been integrated to minimize excessive complicated algebraic computations wherever necessary.