Submitted By Neluvhalani

Words 1687

Pages 7

Words 1687

Pages 7

Bibliography: ………………………………………………………...…….……………..12

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QUESTION 1

1.1 Class Interval 20 up to 50 50 up to 80 80 up to 110 110 up to 140 140 up to 170 Frequency 06 12 14 04 04 40 Less than type Cumulative Frequency 00+06 = 06 06+12 = 18 18+14 = 32 32+04 = 36 36+04 = 40

1.2

Draw to scale 1.2.1 Histogram 1.2.2 Frequency Polygon 1.2.3 “Less-than” Ogive

REFER TO THE GRAPH ON THE NEXT PAGE FOR ANSWERS

2

3

1.3

Use the Ogive to determine 1.3.1. the 65th percentile To determine the 65th percentile we calculate :65% of 40 = 26. The 65% percentile occurs at position 26. From the graph it gives the value of 82 1.3.2 The inter-quartile range is a measure of dispersion and is equal to the difference between the third and first quartiles. Half of the inter-quartile range is called semi inter-quartile range or Quartile deviation. Symbolically it is defined as; Q.D = (Q3 - Q1)/ 2 where Q1 and Q3 are the first and third quartiles of the data.

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=

= 61 and Q3 =

= 101.5

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= 81.25

4

QUESTION 2 2.1 Compute the mean and standard deviation for the daily trading volumes to use as estimates of the population mean and standard deviation. Shares in millions ������ 723 766…...

...Ques 2:What are the prospects and challenges of quantitative techniques in management? What are quantitative techniques in management? Quantitative Approach provides us the mathematical & statistical, tools & techniques to optimize the managerial decision making in the areas of plaining and control. such as budgeting, scheduling, quality control etc. Normally following techniques are used Critical Path Method (CP). Linear Programming (LP). Greedy Strategy (GS). Queuing Theory. Economical Model. . . . . . etc. What are the business management controlling techniques? Organizational Control Techniques Control techniques provide managers with the type and amount of information they need to measure and monitor performance . The information from various controls must be tailored to a specific management level, department, unit, or operation . To ensure complete and consistent information, organizations often use standardized documents such as financial, status, and project reports. Each area within an organization, however, uses its own specific control techniques, described in the following sections. Financial controls After the organization has strategies in place to reach its goals, funds are set aside for the necessary resources and labor. As money is spent, statements are updated to reflect how much was spent, how it was spent, and what it obtained. Managers use these financial statements, such as an income statement or balance sheet, to monitor......

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...Quantitative marketing research is the application of quantitative research techniques to the field of marketing. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying agreement on the "four Ps" of marketing: Product, Price, Place (location) and Promotion. As a social research method, it typically involves the construction of questionnaires and scales. People who respond (respondents) are asked to complete the survey. Marketers use the information so obtained to understand the needs of individuals in the marketplace, and to create strategies and marketing plans. Contents [hide] • 1 Scope and requirements • 2 Typical general procedure • 3 Statistical analysis o 3.1 Reliability and validity o 3.2 Types of errors • 4 See also • 5 List of related topics • 6 References [edit] Scope and requirements This section is empty. You can help by adding to it. (July 2010) [edit] Typical general procedure Simply, there are five major and important steps involved in the research process: 1. Defining the Problem. 2. Research Design. 3. Data Collection. 4. Analysis. 5. Report Writing & presentation. A brief discussion on these steps is: 1. Problem audit and problem definition - What is the problem? What are the various aspects of the problem? What information is needed? 2. Conceptualization and operationalization - How exactly do we......

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... | | |Quantitative Reasoning for Business | Copyright © 2010, 2008 by University of Phoenix. All rights reserved. Course Description This course applies quantitative reasoning skills to business problems. Students learn to analyze data using a variety of analytical tools and techniques. Other topics include formulas, visual representation of quantities, time value of money, and measures of uncertainty. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Lial, M., Hestwood, D., Hornsby, J., & McGinnis, T. (2010). Prealgebra & introductory algebra (3rd ed.). Boston, MA: Pearson/Addison-Wesley. Sevilla, A., & Somers, K. (2007). Quantitative reasoning: Tools for today’s informed citizen (1st ed.). Emeryville, CA: Key College Publishing. ...

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...can be drawn? How do these findings relate to similar research? 12.Write the research report - Report usually has headings such as: 1) executive summary; 2) objectives; 3) methodology; 4) main findings; 5) detailed charts and diagrams. Present the report to the client in a 10 minute presentation. Be prepared for questions. The design step may involve a pilot study to in order to discover any hidden issues. The codification and analysis steps are typically performed by computer, using statistical software. The data collection steps, can in some instances be automated, but often require significant manpower to undertake. Interpretation is a skill mastered only by experience. [edit] Statistical analysis The data acquired for quantitative marketing research can be analysed by almost any of the range of techniques of statistical analysis, which can be broadly divided into descriptive statistics and statistical inference. An important set of techniques is that related to statistical surveys. In any instance, an appropriate type of statistical analysis should take account of the various types of error that may arise, as outlined below. [edit] Reliability and validity Research should be tested for reliability, generalizability, and validity. Generalizability is the ability to make inferences from a sample to the population. Reliability is the extent to which a measure will produce consistent results. Test-retest reliability checks how similar the......

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...Chapter 12 Q1-18 not 2.6.12 pg496 1. Raw Material inventory, work in process inventory, maintenance/repair/operating supply (MRO) inventory, and finished goods inventory 3. Better forecasting, physical control, supplier reliability can result from appropriate inventory management policies abc guides development of those policies, idea is to establish policies that focuses resources on few critical inventory parts and not the many trivial ones222 4. Holding costs, ordering costs, setup costs. Setup time 5. Demand for item is known; lead-time is consistent and known, receipt of inventory is instantaneous and complete, quantity discounts are not possible, only variable costs are setup or ordering cost and holding or carrying cost, and stock outs or shortages can be completely avoided 7. Because in EOQ it assumes that there are no other variable costs and the product price is constant. Because for a quality discount it takes into consideration the price of the product because it is giving a discount of buying large volumes so it can still cover the cost of buying the product, as discount quantity goes up, the product cost goes down. 8. It eliminates the shutdown and interruption of production necessary for annual physical inventories, eliminates annual inventory adjustments, trained personnel audit the accuracy of inventory, allows the cause of the errors to be identified and remedial action to be taken, maintains accurate inventory records 9.A reduction in setup cost......

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...Chapter 1 Introduction to Quantitative Analysis Teaching Suggestions Teaching Suggestion 1.1: Importance of Qualitative Factors. Section 1.2 gives students an overview of quantitative analysis. In this section, a number of qualitative factors, including federal legislation and new technology, are discussed. Students can be asked to discuss other qualitative factors that could have an impact on quantitative analysis. Waiting lines and project planning can be used as examples. Teaching Suggestion 1.2: Discussing Other Quantitative Analysis Problems. Section 1.2 covers an application of the quantitative analysis approach. Students can be asked to describe other problems or areas that could benefit from quantitative analysis. Teaching Suggestion 1.3: Discussing Conflicting Viewpoints. Possible problems in the QA approach are presented in this chapter. A discussion of conflicting viewpoints within the organization can help students understand this problem. For example, how many people should staff a registration desk at a university? Students will want more staff to reduce waiting time, while university administrators will want less staff to save money. A discussion of these types of conflicting viewpoints will help students understand some of the problems of using quantitative analysis. Teaching Suggestion 1.4: Difficulty of Getting Input Data. A major problem in quantitative analysis is getting proper input data. Students can be asked to...

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...factor. Southeast Airline: The relationships between maintenance costs and airframe age for Southeast Airline are much less well deﬁned. It is even more obvious that airframe age is not the only important factor—perhaps not even the most important factor. Overall, it would seem that: 1. Northern Airline has the smallest variance in maintenance costs, indicating that the day-to-day management of maintenance is working pretty well. 2. Maintenance costs seem to be more a function of airline than of airframe age. 3. The airframe and engine maintenance costs for Southeast Airline are not only lower but more nearly similar than those for Northern Airline, but, from the graphs at least, appear to be rising more sharply with age. 4. From an overall perspective, it appears that Southeast Airline may perform more efﬁciently on sporadic or emergency repairs, and Northern Airline may place more emphasis on preventive maintenance. Ms. Young’s report should conclude that: 1. There is evidence to suggest that maintenance costs could be made to be a function of airframe age by implementing more effective management practices. 2. The difference between maintenance procedures of the two airlines should be investigated. 3. The data with which she is presently working do not provide conclusive results. Northern Airline 90 80 70 90 80 70 Southeast Airline Cost ($) 50 40 30 20 10 5 7 9 11 13 Airframe Engine 15 17 19 Cost ($) 60 60 50 40 30 20 10 5 7 9 11 13 Airframe Engine......

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...Quantitative Analysis For Management ELEVENTH EDITION BARRY RENDER Charles Harwood Professor of Management Science Graduate School of Business, Rollins College RALPH M. STAIR, JR. Professor of Information and Management Sciences, Florida State University MICHAEL E. HANNA Professor of Decision Sciences, University of Houston—Clear Lake Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo To my wife and sons – BR To Lila and Leslie – RMS To Susan, Mickey, and Katie – MEH Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Senior Acquisitions Editor: Chuck Synovec Product Development Manager: Ashley Santora Director of Marketing: Patrice Lumumba Jones Senior Marketing Manager: Anne Fahlgren Marketing Assistant: Melinda Jones Senior Managing Editor: Judy Leale Project Manager: Mary Kate Murray Senior Operations Specialist: Arnold Vila Operations Specialist: Cathleen Petersen Senior Art Director: Janet Slowik Art Director: Steve Frim Text and Cover Designer: Wee Design Group Manager, Rights and Permissions: Hessa Albader Cover Art: Shutterstock Media Project Manager, Editorial: Allison Longley Media Project Manager, Production: John Cassar Full-Service Project Management: PreMediaGlobal Composition: PreMediaGlobal Printer/Binder: Edwards Brothers Cover Printer: Lehigh-Phoenix......

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...applications and their likely economic results. Place-marketing strategies and allied methods of local economic development continue to be useful elements of the policy maker’s toolkit, but they need to be put in due perspective, especially by comparison with an alternative (or, rather, complementary) set of approaches that has more recently started to come into focus. This remark points directly to a second-generation policy vision directed less to the selling of places in the narrow sense than to the physical export of local cultural products to markets all over the world. THE CULTURAL ECONOMY AND LOCAL ECONOMIC DEVELOPMENT THE RISE AND INCIDENCE OF CULTURAL-PRODUCTS INDUSTRIES Several efforts have been made of late to assess the quantitative importance of cultural-products industries as a whole in different countries. Needless to say, such efforts are fraught with severe definitional problems. Even if a common definition of the cultural economy could be agreed upon, the disparate official industrial and occupational codes currently in use across the world would still make it impossible to establish fully comparable sets of accounts. All that being said, the published evidence, such as it is, suggests that cultural-products industries constitute an important and growing element of modern economic systems. Pratt (1997), for example, has shown that for the case of Britain in 1991, a little less than 1 million workers (4.5% of the total labor force) were employed in what......

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...Quantitative Methods II ©2006 Prentice Hall Lecture 12 14-12-2014 Chapter 13 Linear Correlation and Regression ©2006 Prentice Hall Intended Learning Outcomes (ILOs) • By the end of this lecture, the student should be able to: Understand and explain the terms dependent and independent variable Calculate and interpret the correlation coefficient , the coefficient of determination, and the standard error of estimate Calculate the least squares regression line Construct and interpret confidence and prediction intervals for the dependent variable ©2006 Prentice Hall • In this chapter, we will develop numerical measures to express the relationship between two variables. Is the relationship strong or weak, is it direct or inverse? In addition, we will develop an equation to express the relationship between variables. Then, we will estimate one variable on the basis of another. • - Examples: Is there a relationship between the number of hours that student studies for an exam and the score earned? - Is there a relationship between years of employee experience and the quantity of production? - Is there a relationship between the product price and the purchasing amount of that product? - Is there a relationship between the amount of money spend per month on advertising and the monthly sales? - Is there a relationship between age and blood pressure ? Can we estimate, based on the amount of money spent on advertising in January,...

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...| 22 | 31 | Total | 100 | 55 | 155 | a) What is the probability that a worker is a woman? b) If a managerial person is selected, what is the probability that the person is a woman? c) A special bonus is given to a person in the technical area – what is the probability that it will go to an woman given that the worker is in the technical area? Is this discrimination against male technical workers? What factors might enter into the awarding of bonus other than random selection? d) What is the probability that a professional person will be a winner to Hawaii? e) What is the probability that the winner will be either a man or a clerical worker? f) What is the probability that the winner will be an woman and in management? g) Suppose the winner is a man. What is the probability that he is from the technical group? Q2. Probability Distributions - Discrete BANKING INDUSTRYs PUBLIC IMAGE * Gallup Survey of 1002 bank customers * 80% bank their primary financial institution * 65% very satisfied with the bank * 79% banks are very important * 64% banks are more competitive today * 87% feel safe using an ATM * 41% loan process very difficult * 52% not appropriate for banks to charge service fees * 33% banks represent good value for money * 87% bankers should care about their communities – 31% strongly agreed they do * 29% banks are flexible in meeting consumers financial needs * Important reason to......

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...Quantitative Methods in Management is generally a practical field and can be applied in different areas like Manufacturing, Environmental Planning, Engineering and Construction which is the field of my profession as an Architect. The subject offers a scientific and systematic approach to problem solving and decision making. The use of mathematical analysis helps a decision maker like me, to be able to understand the problems I’m facing and provide a tool in making informed and reasoned judgments. One example on how the subject can help me is for putting mark ups on BIDS which we normally use in construction. The different methods shown in the subject especially in chapter 4 sample problem(4-13) in the book thought me on how to evaluate expected value of profit on different values of additional cost and evaluate which value can give me the best probability of winning the bid and getting the highest profit possible. Since one of the objectives of the subject is to develop analytical frame of mind, it will be an essential tool in project management which includes decision making. It will make Project Managers like me to be explicit in analyzing conditions associated with future decisions and in determining the outcome of different alternatives. For example in my case, I can now evaluate the pros and cons of renting exhibitions stands against building our own for the company. I can now consider which will be more profitable for the company considering all the factors......

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...Nova Southeastern University H. Wayne Huizenga School of Business & Entrepreneurship Assignment for Course: | (Winter 2014Business Modeling) | Submitted to: | (Dr. Phillip Rokicki) | Submitted by: | (Harry Cupp, Jessica Alvarez, Panashe Muwunganirwa) | | | | | | | | | Date of Submission: 2/01/14 Title of Assignment: ZZ Airlines CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course. Student's Signature: ______________________________ ***************************************************************** Instructor's Grade on Assignment: Instructor's Comments: Executive Summary ZZ Airlines is currently deciding whether or not to hire an additional Call Service Representative. The airline does not want the wait time in the call center, between midnight and 6 A.M, to be more than 3 to 4 minutes, in order to provide good customer service. Additionally, the airline is planning to do an advertising campaign which is expected to increase the number of callers, based on similar past campaigns. Based on the statistical simulations, and its subsequent results, an analysis will determine whether an additional Call Service Representative is...

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...Combining Qualitative and Quantitative Methods In Environmental Accounting Research Evangeline Elijido-Ten Faculty of Business and Enterprise, Swinburne University of Technology Address for correspondence: Faculty of Business and Enterprise Swinburne University of Technology John Street, Hawthorn Victoria, Australia 3122 Phone: +61 3 9214 4471 Fax: +61 3 9819 2117 E-mail: eelijidoten@swin.edu.au 1 Combining Qualitative and Quantitative Methods In Environmental Accounting Research Abstract Purpose: To explore how the combination of quantitative and qualitative methods can enhance a study on the environmental reporting decisions made by Malaysian companies using the emergent stakeholder theory. Methodology/approach: The paper provides an illustration of how the descriptive, exploratory and explanatory type of research is entrenched with the objectives of the research and how the combination of quantitative (statistical regression and weighting/mean ranking) and qualitative (archival analysis, qualitative interviews) methods may enhance accounting research not only from results that corroborate. Findings: The three-fold objective of this study, corresponding to its three phases, illustrates that combining qualitative and quantitative methods involves considerations at each phase of the investigation. The research design shows that when the researcher work with different types of data within the same project, the way data is used......

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...Quantitative Methods in Management Q M M Session One Asato ma sat gamaya, tamaso ma jyotir gamaya, mrityo ma amritam gamaya ‘Lead me from the superficial to the worthy, from darkness to light and from stagnation to zestful living’ Brahadaranyaka Upanishad (1,3,28) [pic]M C Escher http://www.theorsociety.com/Science_of_Better/htdocs/prospect/index.asp What is Operational Research? The discipline of applying appropriate analytical methods to help make better decisions. By using techniques such as problem structuring methods (sometimes known as 'Soft O.R.') and mathematical modelling to analyse complex situations, operational research gives executives the power to make more effective decisions and build more productive systems based on: • More complete data • Consideration of all available options • Careful predictions of outcomes and estimates of risk • The latest decision tools and techniques Linear Programming Operations management often presents complex problems that can be modelled by linear functions. The mathematical technique of linear programming is instrumental in solving a wide range of operations management problems. Linear programming is used to solve problems in many aspects of business administration including: • product mix planning • distribution networks • truck routing • staff scheduling •......

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