DECS 433 Waiver Information
Course Title:
Mathematical Methods For Management Decisions
DECS 433 introduces the basic concepts and tools of probability, statistics and decision theory used throughout the Kellogg program. The first part covers sample spaces, elementary probability laws and probability revision. Probability distributions, measures of central tendency and dispersion, and correlation are covered in the second part. The third part introduces the statistical notions of point and interval estimation, decision trees and value of information. Excel functions and tools are introduced and used throughout the course.
The waiver policy is an imperfect proxy for determining whether you have mastered the material to be covered in DECS 433 elsewhere. It does not determine if you remember it well enough to apply. Courses that rely on DECS 433 (like FINC-430, MECN 446, MGMT 469 for example) assume not just exposure to the content of DECS 433 but familiarity and fluency. For this reason, you are advised to review the representative test questions found in the document Selftest_DECS433.txt. If you find the test a struggle to understand and attempt, you are advised not to waive out of DECS 433.
A waiver for DECS 433 must be applied for during the waiver session scheduled during CIM week.
Waivers for DECS 433 are granted under the following conditions:
- Any student can elect to take the turbo version (DECS 436) instead. This is an accelerated and extended version of DECS-433 for students with previous exposure to probability and statistics and strong quantitative skills. It reviews, with added business examples, the topics covered in DECS-433 and teaches additional topics such as Markovian decision policies, simulation, analysis of risk, game trees and bargaining.
- A waiver can be obtained by passing the waiver exam. The waiver exam is offered once a year, and is scheduled after your arrival in the Fall. The exam is open book and open notes.
- A waiver can be granted for prior course work. Either two courses in probability and statistics at grade B or better, or one course in probability with a grade of A. If you believe you qualify, attend the waiver session during CIM week and bring with you :
- The waiver form available at Student Affairs
- A copy of your undergraduate transcript
- A copy of the syllabi of relevant courses
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