Introduction to Management Science: Quantitative Methods: 50 Multiple Choice Questions Question 1 In a balanced transportation model where supply equals demand‚ a. all constraints are equalities b. none of the constraints are equalities c. all constraints are inequalities d. none of the constraints are inequalities Question 2 In a transportation problem‚ items are allocated from sources to destinations a. at a maximum cost b. at a minimum cost c. at a minimum profit d. at
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4. What is Research Design? What are the different types of Research Designs? Research Design The research designer understandably cannot hold all his decisions in his head. Even if he could‚ he would have difficulty in understanding how these are inter-related. Therefore‚ he records his decisions on paper or record disc by using relevant symbols or concepts. Such a symbolic construction may be called the research design or model. A research design is a logical and systematic plan prepared
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COLLEGE OF EDUCATION AND EXTERNAL STUDIES SCHOOL OF CONTINUING AND DISTANCE EDUCATION DEPARTMENT OF EXTRA-MURAL STUDIES. LDP603: RESEARCH METHODS GROUP ASSIGNMENT GROUP 5 QUESTION: DISCUSS THE VARIOUS PROBABILITY AND NON-PROBABILITY SAMPLING TECHNIQUES USED IN RESEARCH. GROUP 5 (A) MEMBERS |S/NO |SURNAME |OTHER NAMES |REG. NO |SIGNATURE | | |GICHOHI
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take place in one or several locations. It is computed from the probability of the event becoming an issue and the impact it would have (See Risk = Probability X Impact). Various factors should be identified in order to analyze risk‚ including: * Event: What could happen? * Probability: How likely is it to happen? * Impact: How bad will it be if it happens? * Mitigation: How can you reduce the Probability (and by how much)? * Contingency: How can you reduce the
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One: Descriptive Statistics and Probability Distributions Objective: Compute descriptive statistics for given data sets. 1. In 1995‚ the cost of unleaded gasoline was $0.95 per gallon. In 2010‚ the same type of gasoline costs $3.00 per gallon. To determine the amount of change‚ we have to use the a. moving average technique b. geometric mean of 2 years c. geometric mean rate of increase d. weighted mean of the 2 years Objective: Apply probability concepts related to discrete and
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data • Calculate and interpret the correlation coefficient and equation of the least-squares regression line for bivariate data and use the results to make predictions. • Solve probabilities • Compute binomial distributions • Use the normal distribution to interpret z scores and compute probabilities • Estimate a population mean or proportion using a point estimate and confidence intervals and interpret the confidence level • Determine the appropriate sample size for
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It is estimated that there is a 0.6 probability that the survey will be favorable. Furthermore‚ there is a 0.9 probability that the market will be favorable given a favorable outcome from the study. However‚ the marketing professor has warned Mas that there is only a probability of 0.112 of a favorable market if the marketing research results are not favorable. Mas is confused. b. Should Mas use the marketing research? c. Mas‚ however‚ is unsure the probability of a favorable marketing research study
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discrepancies. During the discovery phase of the lawsuit‚ when both side submit all of the information they have to each other‚ the insurance company hired an independent CPA firm to calculate the GPF. To determine fraud‚ our group had to find the probability that a standard normal random variable exceeded the GPF samples given to us. We used the entire data set of 3‚005 invoices as the population‚
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Introduction: The human genome contains a wealth of information about our bodies. We know that there are genes which lead to long‚ healthy lives. We also know that there are genes which can lead to short and painful ones‚ and everything in between. The difficulty‚ however‚ lies in finding which genes in which states lead to which health outcomes. Genome sequencing is becoming faster‚ cheaper‚ and more accessible. This means that we are increasing our store of information about the human genome at
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3 – Decision Analysis 1 Decision analysis is concerned with establishing systematic procedures for making decisions under uncertainty. Knowledge of decision analysis should help analyze a problem in a complicated and uncertain setting‚ to develop alternatives‚ and to identify possible outcomes. The decision maker then selects the alternative that best meets his or her objectives and psychological desires. Decision analysis is important because it provides decision makers with a rational way
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