Quantitative Methods BITS Pilani Pilani Campus Course handout BITS Pilani Pilani Campus Session-1 Instructor Details Dr. Remica Aggarwal 1214 C ; FD-1 Department of Management Email: remica_or@rediffmail.com Mobile: 09772054839 BITS Pilani‚ Pilani Campus Course Details • • • • • • • Management Science Use of QM/QA Modelling Techniques Data Analysis Techniques MS Excel QM for Windows Test BITS Pilani‚ Pilani Campus Quantitative Methods • • • • • • • Operations
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The Scientific Method This experiment was performed by using a systematic approach to identify six unknown substances. In the first half of the experiment six unknown substances were observed than measured by determining volume‚ mass and density. The second half of the experiment the unknown were placed in a test tube and tested for solubility. It was determined that the six tubes contained coffee‚ potting soil‚ brown sugar‚ baby powder‚ baking soda‚ and powdered sugar. By the use of the scientific
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As such‚ ABC has predominantly been used to support strategic decisions such as pricing‚ outsourcing‚ identification and measurement of process improvement initiatives. So what is really the difference between ABC and traditional cost accounting methods? Despite the enormous difference in performance‚ there is three major differences: 1. In traditional cost accounting it is assumed that cost objects consume resources whereas in ABC it is assumed that cost objects consume activities. 2. Traditional
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1. Which is not true about the scientific method? A. The scientific method is done by following a step-by-step procedure in an exact sequence. B. The scientific method is a systematic way of finding a solution to a problem. C. Observation is the first step. D. The scientific method may be followed even outside the laboratory. 2. What is the correct order of the steps in the scientific method? A) Ask a question‚ analyze results‚ make a hypothesis‚ test the hypothesis‚ draw conclusions‚ communicate
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economics develops and evolves‚ the current mental model which is perfect and successful will become old and outdated. That’s why refreshing the organization’s leaders mental method is the main requirement of the strategic management competency. There are two categories of Mental Model and they are based on the acquisition method. Explicit Models are the models which we learnt from learning various conditions for example‚ physics‚ maths‚ economics and so on‚ it is when you study the model from out
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Cluster Sampling Cluster sampling‚ also called block sampling. In cluster sampling‚ the population that is being sampled is divided into groups called clusters. Instead of these subgroups being homogeneous based on selected criteria as in stratified sampling‚ a cluster is as heterogeneous as possible to matching the population. A random sample is then taken from within one or more selected clusters. For example‚ if an organization has 30 small projects currently under development‚ an auditor looking
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in achieving the amazing results that they achieve; they use the scientific method. The scientific method allows scientists to utilize a common approach to address the requirements of the scientific community. These techniques allow other scientists‚ as well as just the layman‚ to know that there has been a standardized system applied to the scientific process. I will present a brief example of what the scientific method is and how to apply it to a real life issue. I have just arrived
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Surname: Salmon First name: Tati Student number : 12421179 Does the idea of comparative advantage provide a good explanation of current patterns of international trade? For the last two centuries the international trade evolved a lot and many economists tried to explain it. One of the first theories that attempted to explain the international trade pattern was the Absolute advantage theory. A.Smith was a great economist; he is the one who created this theory. For A. Smith countries should specialize
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Real Life) SC300 July 16‚ 2013 Tarah Wells The Scientific Method Each and every day‚ you are faced with having to make split-second decisions‚ and the need to solve random problems that you encounter. To reach those decisions and work those problems out you are subconsciously using the scientific method. Apply the steps of the Scientific Method to two situations that could occur in your everyday life. Use the scientific method in the first scenario provided by your instructor to solve the
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Communication Methods Managerial Communication March 7‚ 2014 Choose five different communication methods listed in Chapter 8 and identify an advantage and a disadvantage for each one. Telephone and Voicemail is a great way to contact a person directly without any interactions or blocks in the way of reaching them. You can often times get an immediate response if you have a question or to give information. You can be able to hear a person’s tone of voice‚ and
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