Quantitative Methods for Business chapter 1 ppsx

46 280 0
  • Loading ...
1/46 trang

Thông tin tài liệu

Ngày đăng: 06/07/2014, 00:20

[...]... third, 1 1 ϩ 4 3 But these are incompatible; thirds are not the same as quarters If we multiply three by four we get twelve Since both a third and a quarter can be expressed in twelfths (4 /12 and 3 /12 respectively), we can conduct the addition using twelfths: 4 3 7 ϩ ϭ 12 12 12 18 Quantitative methods for business Chapter 1 Subtracting fractions also involves identifying a common denominator, so: 1 1 1. .. interest Chapters 10 to 14 deal with techniques and models that allow the risk inherent in business situations to be reflected in the analysis of 4 Quantitative methods for business Chapter 1 them Chapters 15 to 17 are about inferential techniques, methods that enable you to make inferences or draw conclusions about an issue in general based on the study of a comparatively modest amount of data The final chapter. .. six partners in the business, how much should each partner receive? Find the answer by dividing the profit by the number of partners Profit share ϭ £94,200/6 ϭ 15 ,700 If you divide a number by another number that is less than one, the result will be larger than the original number 12 Quantitative methods for business Chapter 1 Example 1. 11 A businessman from abroad travels 3 41 miles in the UK On... root of 234: Length/width ϭ √ 234 ϭ 15 .297 The maximum dimensions would be 15 centimetres long by 15 centimetres wide Although √234 is also 15 .297 the concept of negative dimensions makes no sense here 16 Quantitative methods for business Chapter 1 An alternative form of representing the square root of a number is to show the number to the power of a half, so: √ 3 ϭ 31 2 If you square the square root... computer software Example 1. 13 An economist wants to find how much it would cost to give every resident of the UK half a million pounds, assuming the UK population is 56 million If you multiply fifty-six million by half a million on your calculator (56,000,000 * 500,000) it will probably show something like: 2. 813 or 2.8 *10 13 or 2.8E 13 14 Quantitative methods for business Chapter 1 The calculator produces... figures Example 1. 19 A total of 2 91, 538 people visit a trade exhibition Round this figure so that it is expressed to: (a) five significant figures (b) four significant figures (c) three significant figures (a) 2 91, 540 (b) 2 91, 500 (c) 292,000 round the 8 up, so 38 becomes 40 round the 4 down, so 540 becomes 500 round the 5 up, so 15 00 becomes 2000 20 Quantitative methods for business Chapter 1 If rounding... time for delivering packages from the van is negligible), and what time is this on the 24-hour clock? To get the answer, work in hours first, then minutes: Arrival time ϭ 11 ϩ 2 hours ϭ 1pm ϩ44 minutes ϭ 1. 44 pm To express this using the 24-hour clock, add 12 to the number of hours, because the arrival time is after midday: Arrival time ϭ 1. 44 ϩ 12 ϭ 13 .44 But if the driver started the route at 11 .45am... colleagues and our development of new approaches to teaching and learning quantitative methods Finally, thanks to Allison, Max and Tom for their forbearance This Page Intentionally Left Blank C H A P T E R 1 Setting off Chapter objectives This chapter will help you to: ■ ■ ■ ■ assess the importance businesses attach to quantitative methods make full use of this book apply arithmetical procedures use the... 40 ϩ 12 ϩ 27 ϩ 70 ϭ 16 4 It may be more useful to express the answer in hours and minutes To do this we need to find how many lots of sixty minutes there are in 16 4 minutes The answer is two, so the total journey time is two hours (12 0 of the total number of minutes) and 44 minutes (the number of minutes left over if 12 0 is subtracted from 16 4) Example 1. 7 If the driver in Example 1. 6 starts at 11 am,... software that can take the hard graft out of the analysis to allow you to concentrate on interpreting the results 1. 1 Quantitative methods, numbers and business If you are studying business or interested in any aspect of business you need to know about quantitative methods Why? Because business is all about quantities: quantities of goods produced and services provided, quantities of inputs and costs, . questions 10 2 Chapter 4 Filling up – fuelling quantitative analysis 10 8 4 .1 Some key words you need to know 10 9 4.2 Sources of data 11 1 4.3 Types of data 11 1 4.4 Arrangement of data 11 6 4.5 Using. they really use forecasting? 309 Review questions 310 Chapter 10 Is it worth the risk? – introducing probability 316 10 .1 Measuring probability 318 10 .2 The types of probability 3 21 10.3 The rules. 588 Chapter 18 Going off-road – managing quantitative research for projects and dissertations 597 18 .1 Using secondary data 599 18 .2 Collecting primary data 6 01 18.3 Presenting your analysis 611 Appendix
- Xem thêm -

Xem thêm: Quantitative Methods for Business chapter 1 ppsx, Quantitative Methods for Business chapter 1 ppsx, Quantitative Methods for Business chapter 1 ppsx

Gợi ý tài liệu liên quan cho bạn

Nhận lời giải ngay chưa đến 10 phút Đăng bài tập ngay