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Quantitative Analysis
It consists of three parts (Anderson, Sweeney, Williams, Camm, Cochran, Fry, and Ohlmann, 2010): Arrival or input to the system Waiting line The service facility An operations manager must make a trade of between the cost of providing good service and the cost of customer wait time or machine time. The most preferable arrangement for a manager would be that the queues are short enough that they do not annoy a customer. However, an operations manager would tolerate some waiting time if it leads to a significant savings in service costs. An operations manager can evaluate a service facility by...

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quantitative analysis
The measurement is based on a proper sequence, and time intervals are equally distant and uniform (Schelter, Winterhalder et al. 319). The main aim of this kind of analysis is to determine any possible existence of a pattern or sequence in a given set of data. The time series analysis itself offers variety of methods, namely the forecasting approach, the univariate approach, which involves limited variables, and other advanced techniques like Gaussian and Box-Jenkins model. Large number of events can be counted as examples of time series analysis that we see in our daily life in our routine...

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quantitative reasoning and analysis week 3
However, the case of learners is very much different, which makes Cheng a good researcher because using real-world settings have factors that differ from controlled settings. To support this argument, many studies pursued in relation with No Child Left Behind Act were quasi-experimental designs. The rationale behind this according to Angrist (2003) was that numerous studies done before in the classroom that involved technology (computer-aided instruction) “relies on uncontrolled measurements, such as the level of satisfaction experienced by technology users”. Angris (2003) also noted that...

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quantitative reasoning and analysis week 4
In order to see if this hypothesis is true I held an examination using two groups and a comic strip I printed from the internet called Today’s Dogg. The strip is a single image of a dog that is staring into an empty dog-bowl saying, “Feed me”. Next to the bowl is a phone and text which read “Buy a smart phone. It does everything.” The two groups of five were taken into two different rooms and I briefed them on what they should do. Group A was the group that held the pens in their teeth and Group B is the group that held the pen in their lips. After a few minutes I received the...

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QUANTITATIVE DECISION MAKING
Requirements of performing a quantitative analysis are the presence of a sample (upon which the analysis would be performed), descriptive statistics, and a deductive reasoning. Practical examples of quantitative Analysis Some practical examples of quantitative analysis are ‘Financial Systems Analysis’ and ‘Time Value of Money’. Financial systems analysis used by managers, creditors and investors are used to measure the success of a company’s financial goals. The income sales ratio of two organizations can quantitatively be compared by analysis. How do managers use this in the...

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QUANTITATIVE ANALYSIS FOR DECISION MAKING
Long-range forecast involve timeframes of over three years involving capital expenditures, R&D, new product planning and expansion (Heizer & Render). There are two different approaches of forecasting. The first approach is subjective or qualitative where factor’s such as the manager’s intuition, experience, emotions and opinion are utilized in reaching a forecast. The second quantitative approach involves the use of some historical data coupled with the use of some mathematical models in order to predict possible future outcomes. The qualitative approach is often useful in estimating sales...

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Quantitative Analysis for Management
Assuming that XYZ operates at optimum level, the following quantity and price would be chosen by them: Total Revenue – Total Cost (Price * Quantity) – (Total Cost) From the data given (5,000-0.2Q)*Q – (20,000,000+0.05Q2) 5000Q - 0.2Q2 – 20,000,000 – 0.05Q2 The final equation derived is -0.25Q2 + 5000Q - 20,000,000 The above equation is a function of quantity and therefore through differentiation the value of quantity would be: F (Q) = -0.25Q2 + 5000Q - 20,000,000 F’ = -0.5Q + 5000 -0.5Q + 5000 = 0 -0.5Q = -5000 Q = 10,000 cameras In accordance with the given information, as XYZ is...

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