Class,
Am in the process of prepping Lecture 5.
Doesn't need mention that Lec 5 is the mid-point for the course. (Gosh! It is accelerated, eh?!)
Have taken the poll results to heart. There will no zabardasti ka Quant. Even if popular demand were 80% in favor of such an idea, I would have taken my own call on this one.
But, standing at mid-point, the time is nigh for Quant to make its presence felt again. The scales tip.
The first 15 minutes of lec 5 will be a Quiz (different papers for each section).
The next 45 min will be spent understanding Qualitative research as an MKTR tool.
The last 50 min will be spent delving into a "Modeling and Estimation Primer".
Very briefly, this will cover
(i) the very bare basics in elementary math model building,
(ii) elementary nonlinear estimation using Excel SOLVER (and R's optimize() function),
(iii) elementary linear algebra (inverting matrices in Excel and of course, in R) and finally
(iv) a bridge to multivariate analyses using the least squares method.
Just to reset expectations, this will be, as repeatedly mentioned, elementary. So if the engineers start to feel bored and all, too bad. (Just don't yawn strategically in the classroom only....)
Pls ensure you have Excel Analysis Toolpak and importantly, SOLVER installed and ready to go. Would be great to take a small SOLVER tutorial from any friend or neighbor if you don't know it already.
Shall be sending you datasets and Rcode for this mighty soon.
It shall soon be time to roll, fellow Quant-heads......
Sudhir
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Looks like it shall be a fun session. Our prior DMOP course made us experts in Solver already, so not to worry on that front..
ReplyDeleteWe dont even need to know DMOP to understand what was taught in the session today...
ReplyDeleteGood that janta found the session easy, useful or fun.
ReplyDeleteI have to balance content with the profile and appetite of the entire class. There are places we cannot go to because it wouldn't be relevant to the course or to the majority of course-takers.
The point was to have folks 'see' the solution formation in action. I recall back in my early days in the PhD program when such illustrations of solution-formation had a much greater impact on my understanding than dry textbook stuff.
-Sudhir