...SCMA*2000 Quantitative Methods Q:1 Do question 7-27 (given on p. 294 of the text). Note: This may require drawing diagrams, and you may do it using Word, or Excel. However, your work must be fully explained on the same sheet (as I explained in the class, and as you have done for the previous assignments). (12 Marks; 3 for each part) Q:2 Do question 7-31 (given on p. 295 of the text). This question will require drawing diagrams. Follow the instructions given in Q:1. (12 Marks; 6,3,3) Q:3 Do question 7-33 (given on p. 295 of the text) which is related to the previous question. Here you will refer to the Table given for this question on p. 295 of the text when answering. (6Marks; 3 each part) Q:4 Do question 8-1 (given on p. 331 of the text). You may use Excel (as I did in the class yesterday, and the relevant file is posted on the course website for those of you who were not present in the class) or QM for Windows to do this question, and you must explain your work on the same page if you use Excel or through annotation tool if you are using QM for Windows. (15 Marks; 5,10) Q:5 Do question 8-6 (given on p. 333 of the text) in light of the instructions given in the previous question. (15 Marks) Notes: i) The assignment must be submitted electronically in the drop box before the deadline. ii) Please be mindful of the University's policy regarding plagiarism, which is a serious offense. You may read about the policy at the University's website....
Words: 287 - Pages: 2
...Individual Work-2-Week-10 Ricky Norberg Quantitative Methods - 1 Everest University Online Date - 03/19/2016 Instructor: Robert Miner 1 1. Over a three week (21-day) scheduling period, each unit will be scheduled for seven days. Normal staffing requires 186 firefighters to be on duty every day. Thus, each unit needs to provide staffing for 7*186=1302 firefighter days. During a three week period, each firefighter provides 6 days of service. Therefore, Base no of firefighters needed by each unit=1302/6 = 217 Base no of firefighters needed by each unit=217. 2. Using the normal distribution, Z value corresponding to probability of 0.3548= - 0.3722 Optimal no of additional firefighters based on given distribution: Q*= μ+Ζσ μ=20 σ=5 Ζ=0.3772 Thus, Q*=20-0.3772(5) =18.14 Using minimum cost criteria, 18 firefighters should be added in each unit in order to cover daily absences. 3. On a given day, what is the probability that Kelley-day firefighters will be called in to work overtime? Optimal probability that demand will exceed Q*: P (Demand>Q*) =1-((Cu/ (Cu +Co)) P (Demand>Q*) =1-0.3548 = 0.6542 the probability that Kelley-day firefighters will be called in to work overtime=0.6542 4. Based on the three-unit organization, how many firefighters should be assigned...
Words: 344 - Pages: 2
...BUSN311-1302A-02 Quantitative Methods and Analysis Unit 3 DB Leah Murray May 13, 2013 While determining a sample size, the researcher would first need to know how many people, otherwise how many animals would be required because if you do not have enough sample size then it will have an cause on the general study conclusion (2006). The arithmetical power, P level as well as the treatment including the error variability is the factors otherwise; it would be the parameters in order to aids the researchers with choosing the correct sample size for the study (2006). The arithmetical power informs us how powerful the contributing people otherwise the animals in the study is going to be affected with the treatment that will be given to each of them. The P level will assist the researchers in determining the probability for any variation within the topic throughout the study (2006). At last, the investigators have determined the accurate sample size established as to whether or not the remedy predictability for the study is larger than the error predictability. In which it means that some more participants might be needed for the study if the researchers determine to facilitate the affect of the treatment that would happen to be smaller than the error variability (2006). Creative researcher systems as well as the raosoft are survey system companies that provides calculators in order to decide the model size intended for the research investigation. However, for a sample size...
Words: 624 - Pages: 3
...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 define...
Words: 1288 - Pages: 6
...As mentioned above, while quantitative methods are good at answering these four types of questions, there are other types of question that are not well suited to quantitative methods: 1. The first situation where quantitative research will fail is when the problem needs to be analysed in depth. Quantitative research is good at providing information in breadth from a large number of units. But when it comes to exploration of a problem or concept in depth, quantitative methods are too shallow. To get really under the skin of a phenomenon, the best suited methods are, ethnographic methods, interviews, in-depth case studies and other qualitative techniques. 2. As stated earlier, quantitative research is well-suited for the testing of theories and hypotheses. What quantitative methods cannot do very well is to develop hypotheses and theories. The hypotheses to be tested may come from a review of the literature or theory, but can also be developed using exploratory qualitative research. 3. If issues to be studied are particularly complex, an in-depth qualitative study, like a case studyis more likely to pick up on this than a quantitative study. This is partly...
Words: 894 - Pages: 4
...Section III. Choice of Research Method: Quantitative, Qualitative or Mixed? The selection of data analysis techniques to deal with research questions or hypotheses and the techniques chosen for the data collection is informed and guided by what we call the research method. Hence, research method is a procedure, and also the analytical techniques to be chosen and the methods to be chosen will also be dictated by the choices of the methodologies made and by the theoretical framework (Sumner and Tribe, 2008). Research methods for knowledge claim and strategies is of three types: quantitative, qualitative, and mixed methods. In quantitative method, a positivist claims is used as a tool for the researcher to investigate primarily for knowledge....
Words: 1084 - Pages: 5
...1. | Question : | The Excel function RAND() generates a random number that is | | | Student Answer: | | between -1 and 0 | | | | between 0 and 1 | | | | between -1 and 1 | | | | between 0 and 100 | | | | Points Received: | 4 of 4 | | Comments: | | | | 2. | Question : | Which of the following Excel formula always generates a number that is between 100 and 200? | | | Student Answer: | | =100 * RAND() | | | | =100 * RAND() + 200 | | | | =100 * RAND() + 100 | | | | =200 * RAND() + 100 | | | | Points Received: | 4 of 4 | | Comments: | | | | 3. | Question : | Monte Carlo Simulation is a probability-based process that generates outcomes according to the given probability distribution. | | | Student Answer: | | True | | | | False | | | | Points Received: | 4 of 4 | | Comments: | | | | 4. | Question : | Given the following look-up table, named PrizeLookup, From | To | Value | 0.0 | 0.7 | $1 | 0.7 | 0.9 | $10 | 0.9 | 1.0 | $50 | What does this Excel expression =VLookup(0.39, PrizeLookup, 3) evaluate to? | | | Student Answer: | | $0 | | | | $1 | | | | $10 | | | | $50 | | | | Points Received: | 4 of 4 | | Comments: | | | | 5. | Question : | The time between arrivals of cars at Petroco Service Station is defined by the following probability distribution: Time...
Words: 289 - Pages: 2
...(2010). Introduction This article demonstrates how when parents work late night schedules it affects children and causes different behaviors such as; cigarette smoking, alcohol and drug use, sexual activity and poor grades. These work schedules are usually between the hours of 6 p.m. - 3: am) Children whose parents work between the hours of 6 a.m. and 6 p.m. are less likely to have these problems because they are in school or in after school programs. Chosen Variables The variables qualitative which are Boys between the ages of 13- 17, and Quantitative showing how behavior in the home. I choose this because I work with children at our church and notice that boys this age are less involved in activities than girls. Difference in variable types The difference between qualitative and quantitative variables are Qualitative variables are non numeric which means I can discuss the gender of a person. Quantitative variables are numeric which...
Words: 446 - Pages: 2
...Running head: QUANTITATIVE AND QUALITATIVE RESEARCH METHODS PAPER Quantitative and Qualitative Research Methods Paper Obbie Brown University: Course: Tutor: Date: Appropriate Academic Research An appropriate academic research can be defined as the research and the experimental developments which comprise creative works which are conducted on a systematic basis with an aim of increasing the pool of an individual’s or a group’s knowledge. The knowledge could include the in-depth knowledge of mankind, culture and the society. The stock of knowledge is then used to devise alternative solutions to the existing problems (Brew & Lucas, 2009). Quantitative Research Quantitative form of research is predetermined and involves a large number of respondents. It involves objective measurements which are both quantitative and are statistically valid. Quantitative research entails hard and objective data. Quantitative research seeks to quantify data and generalize the results from the predetermined sample to the target population. It also aims at measuring the incidence of various views and opinions in a given sample (Balnaves & Caputi, 2001). Qualitative Research Qualitative research involves the collection, analysis and interpretation of data through the application of the observatory techniques as well as listening to peoples’ opinions. While quantitative research entails the counts and measures of phenomena, the qualitative research...
Words: 1081 - Pages: 5
...The Quantitative Methods course is relevant in almost all aspects of my work, I am an Accounting and Finance Senior Recruiter in Miami. My primary responsibilities include seeking new Clients and Companies to either fill open opportunities or find skilled candidates that are a match for these company’s needs. I am generally multi-tasking, speaking to candidates on the phone, while sending a resume to a company and follow up with both. A vital part of being successful in this industry is organization, follow up and time management. The excel skills I am using in the Quantitative Methods is extremely helpful in my day to day at work, I had an excel list of candidates with applicable titles and last day of contact with notes. Since taking the course and completing the homework’s, I now have what I would consider an impressive excel document; tabs with monthly internal interviews, daily follow up notes, candidate submittal etc. I am not extremely organized and can see all my top clients, candidates and updated notes from one document. I cannot stress how useful this document has become, simplifying and minimizing time previously spent on tons of updates. In addition to staying organized it is vital for me to be an effective manager. I am practically managing my own business, considering that I am have to manage all aspects of the hiring, interview and resume aspects. I am analyzing and solving managerial problems on a daily basis. It is important for me to make not only a good...
Words: 378 - Pages: 2
...global undertaking. The study required me to examine data and analyze the results. The study consists of job satisfaction, which is extremely important to an organization’s overall success. This particular study will allow managers to gain understanding and knowledge about what type of human behaviors can be used to strengthen an organization’s performance. Chosen Variables I have chosen gender for my qualitative data and intrinsic for my quantitative data. The reason that I have chosen these two variables is because I thought it would be interesting to analyze if males or females were more satisfied with their job, and how the actual job performance reflected their job satisfaction rating. Difference in variable types Qualitative variables include subjects that are non-numerical, such as gender. Quantitative variables include subjects that are numerical and give us a clear visual as to what the subject looks like. For instance, if we see a qualitative variable such as cat, we only know that the variable is a cat. A quantitative variable could tell us the weight of the cat, giving us a visual to compare the different sizes of the different cats, i.e. cat one weighs ten pounds, cat two weighs fifteen pounds. In this situation, the descriptive statistics are relatively useless...
Words: 891 - Pages: 4
...James W. Taylor February 2012 Imperial College EMBA 2012 Quantitative Methods Individual Assignment This assignment consists of two parts. Part A is worth 50% of the marks, and Part B is worth the remaining 50%. Your report for the two parts should consist of no more than 1,500 words. Part A – Blanket Systems Blanket Systems is developing and testing a new computer workstation, OB1, which it will introduce to the market in the next 6 months. OB1 will be sold under a three-year warranty covering parts and labour. The company has decided to subcontract the service support for the warranty and has entered negotiations about the support contract with Fixit Inc. Fixit has proposed two different pricing schemes for the subcontract. The first involves the payment of a fixed fee of $1,000,000 and the second a variable fee of $250 per workstation sold, subject to a minimum fee of $350,000. Under both schemes, the payment will be made one year after the introduction of the workstation to the market at which point the product will be replaced by newer models not covered by the warranty service subcontract. At the moment, there is uncertainty about the sales potential of the new workstation. Sales of OB1 are expected to come from two sources: (i) the successful closure by senior management of a major purchase of 2000 units by a long standing customer, (ii) the efforts of regional sales offices. Given the state of the negotiations with the long-standing customer, the current estimate of...
Words: 1518 - Pages: 7
...Jet Copies Case Problem Alex B. Wilson Professor Henry Grimm Quantitative Methods-MAT 540 February 12, 2012 Strayer University-Allentown Campus Jet Copies Case Problem 1 If you assume that the number of days needed to repair a copier is random, you can generate a random number using the Excel RAND function which I denoted r2 between 0 and 1. If 0 < r2 < 0.2 then it takes 1 day 0.2 < r2 < 0.65 then it takes 2 days 0.65 < r2 < 0.90 then it takes 3 days 0.9 < r2 < 1 then it takes 4 days 2 The probability distribution of the random variable varies between the times of 0 to 6 weeks, with the probability increasing as time goes on. This can be approximated by the function f(x) = x/18 for 0 < x < 6 Therefore, the distribution function is f(x) = x-square divided by 36 for 0 < x < 6 If we set this equal to another random number r1 that is between 0 and 1 then R1 = x-square divided by 36 which results to x = 6√ r1 3 Since the number of copies sold per day is a uniform probability distribution between 2000 to 8000 copies, I made r3 a random number between 2000 to 8000. To get the amount of business lost on a particular day, I take r3 X (repair time), and the lost revenue is then equal to 0.1 X r3 X repair time, since they charge $0.10 per copy. 4 After running the simulation, I got the following results: Repair Distribution P(x) | Cumulative | Repair time | 0.2 | 0.000 | 1.000 | 0.45 | 0.200...
Words: 1131 - Pages: 5
...FINANCE –EXAM 3 1. The Hasting Company began operations on January 1, 2003 and uses the FIFO method in costing its raw material inventory. An analyst is wondering what net income would have been if the company had consistently followed LIFO (instead of FIFO) from the beginning, 1/1/2003. He has the following information available to him: What would net income have been in 2004 if Hastings had used LIFO since 1/1/2003? Top of Form $ 110,000 $ 150,000 $ 170,000 $ 230,000 2. A customer is currently suing a company. A reasonable estimate can be made of the costs that would result from a ruling unfavorable to the company, and the amount involved is material. The company's managers, lawyers, and auditors agree that there is only a remote likelihood of an unfavorable ruling. This contingency: Top of Form Should be disclosed in a footnote. Should be disclosed as a parenthetical comment in the balance sheet. Need not to be disclosed. Should be disclosed by an appropriation of retained earnings. 3. The ABC Company operates a catering service specializing in business luncheons for large corporations. ABC requires customers to place their orders 2 weeks in advance of the scheduled events. ABC bills its customers on the tenth day of the month following the date of service and requires that payment be made within 30 days of the billing date. Collections from customers have never been an issue in the past. ABC should recognize revenue from its catering services at...
Words: 2458 - Pages: 10
...Introduction There are five different data collection methods, using articles I will provide two different examples of data collection. Body Using an interview to gather data can be a successful way to get the information you need. You can base your interview questions solely on the information you need and want and nothing more. One way to collect information that can be an easy way to gather information that you need with would be to ask close ended questions, with a yes or no answer. This way you can get the information you need and want and not have a lot of excess information that is not needed. Another way to collect data would be to observe people. You can gather data by observing for multiple things. Clothing styles, colors, hair styles and things of that sort. When observing people to gather data, you need to make sure that you are in a place that has a wide variety of people. If you are observing people in a gym then you will most likely find people in sporting wear rather than wearing jeans. When in a children’s store you may find expectant mothers, grandmothers, young couples, older couples, a wide variety of people. Another place you would find a wide variety of people to observe is a grocery store or big box store. There are advantages and disadvantages to using each method for collection of data. A few advantages would be that the information relates solely on what is currently happening within that situation. Whoever is...
Words: 425 - Pages: 2
