Quantitative Methods for Business Essay

Quantitative techniques are mathematical and reproducible. Regression analysis is an example of one such technique. Statistical analysis is also an example of a quantitative technique. Quantitative techniques are applied for business analysis to optimize decision making IE profit maximization and cost minimization. It covers linear programming models and other special algorithms, inventory and production models. Albert Humphrey, a management consultant who specialized in organizational management, devised the SWOT analysis technique at Stanford Research Institute in the 1960s. Today, not only large corporations but also nonprofit and government agencies employ SWOT analysis. An enhanced method, known as the Six Forces Model, further helps to quantify competition, buyers and suppliers. Identify strengths and weaknesses to assess whether the desired end state is possible. If it is not, revise your objective to reflect an attainable goal. Use SWOT analysis in strategic planning, crisis management and feasibility studies. Apply SWOT analysis techniques in academic environments for developmental studies. Use SWOT analysis to figure out how to exploit each strong point and minimize each disadvantage. SWOT analysis techniques facilitate decision making by classifying and categorizing factors that influence the outcome of activities. Identifying the strengths or weaknesses of your product, price, place of sale and promotion strategy in concert with listing economic, technological and legal factors help you identify your competitive position. Quantitative data help you to justify how important each activity is to your company (http://rapidbi. wordpress. com/2008/12/29/history-of-the-swot-analysis/). SWOT analysis is typically identified as one of two types: planning or marketing. Corporate planning involves setting objectives, assessing abilities, analyzing current strategies, developing new strategies or preparing for different scenarios that might require intervention. This type of SWOT analysis is typically conducted by project-management teams. Marketing analysis, on the hand, involves conducting research to gather opinions, for example, through surveys. These are usually completed by customers or potential clients. The quantifiable results can reveal trends or validate hypotheses you have about how to market your product. Form a cross-functional team to conduct your planning SWOT analysis. Diverse viewpoints produce the best results and prevent closed thinking. Resist the temptation to abandon your objectives as unattainable without close scrutiny. Think creatively to use the data your analysis produces. Match strengths to opportunities when conducting a marketing SWOT analysis. Find innovative ways to convert threats and weaknesses into strengths. Use SWOT analysis to find new markets while avoiding markets for which your company is ill-suited (http://www. ehow. com/about_54926434_sstrength-weakness-quantitative-technique. html). The use of quantitative and qualitative methods in evaluating and planning business related functions is paramount to business success. Good ideas and hard work are often irreplaceable, but proper application of pertinent analytical techniques can help assure that your company is successful by any measure. Both quantitative and qualitative tools are available to even the smallest of businesses, ranging from straightforward techniques such as break-even analysis and SWOT analysis. Quantitative research refers to the systematic empirical investigation of social phenomena via statistical, mathematical or computational techniques. The objective of quantitative research is to develop and employ mathematical models, theories and/or hypotheses pertaining to phenomena. The process of measurement is central to quantitative research because it provides the fundamental connection between empirical observation and mathematical expression of quantitative relationships. Quantitative Approach provides us the mathematical & statistical, tools & techniques to optimize the managerial decision making in the areas of planning and control. Such as budgeting, scheduling, quality control etc. Quantitative Courses help you get a job. Because usually you start at lower levels of management, where there aren’t many strategic decisions you make. Your intuition is not trusted upon and you must back your decisions with numbers (cook them up if you can’t find them. That’s what my internship experience says, but do not quote me on that). So, they want quantitative skills in you. However, as discussed widely across the world, obsession with quantitative stuff can be disastrous. They are only tools and do not substitute managerial judgment. And as you rise in the hierarchy, you intuition and qualitative judgment start getting valued. Qualitative skills are not just a good-to-have asset then, but absolute requirement. Because for taking higher level decisions, you may not always have the kind of precise framework you have for lower level jobs. But most important thing about quantitative courses, while you are a student, is that they can be learnt. Learnt irrespective of several things going wrong like having an incompetent instructor! Even if you do not have much aptitude, by working hard you can extract something from these courses. Qualitative courses on the other hand pose several problems in learning. Irrespective of the presence of several much touted pedagogical tools and techniques, they depend heavily on the quality of the instructor, aptitude of the student and the chemistry between the two. An inarticulate instructor may still manage to teach you a quantitative course, but for a qualitative one it is disastrous. Well, one big problem with qualitative courses is that by the time you shall be allowed to use them in an organization, you would have forgotten them all. Many students wonder if they’ll ever really need to know how to use the quadratic equation or find the volume of a cone. Not realizing how useful math can be, some choose to only fulfill the minimum requirements that their high schools requires. Those at College Board also emphasize how math can help you prepare for a career. The skills that you learn in math courses may be applicable down the line, even if you are not studying to become an engineer or an accountant. Many entry-level jobs require employees to have some math knowledge. Even understanding the basic math functions can be advantageous. Mathematical courses can prove powerful support for business decisions. In their later business careers, this will motivate them to consult with mathematicians and employ effective quantitative methods. Mathematics provides many important tools for economics and other business fields. The recognition of its importance by many students each year will certainly strengthen the position of mathematics in our society. Why do business consultants and directors need to know math? Business is all about selling a product or service to make money. All transactions within a business have to be recorded in the Company accounts and quite often involve very large sums of money. http://johnsonsr. spps. org/Why_is_math_important. html). So for example, you need to be able to estimate the effect of changing numbers in the accounts when trying to work out your expected performance for next year. Also businesses rely heavily on using percentages, in particular anyone who works as a sales person will need to be quick at mental arithmetic, approximation and in working out percentages, The more percentage discount you give a customer when you sell them a product, the less profit your company will make, so it really does pay to know your math (Brechner). One area where quantitative techniques are applied in business is in the area of finances. Some of the models that financial managers and analysts use are return on investment, decision trees and net present value. Financial analysts determine how much profit a particular product brings in versus the costs of producing that product. They run regressions and analyses to note trends over time and determine how much to invest in a particular business line. Financial analysts also use quantitative methods to determine productivity and whether or not to hire, retain or lay off workers. They use quantitative data to manage risk and create investment vehicles. Advertisers use quantitative data to determine how many viewers or readers will see a particular advertisement in a particular medium. They use data from rating services to find out how many people click on a certain website or watch a particular television show at any time. Advertisers also use quantitative data to do pre- and post-testing of advertisements. Advertisers use surveys to test ad recall in viewers, and ttitudes about proposed advertisements, among other things. Companies make heavy use of statistics to determine how to market their products, which markets their products and services will do best in and which consumers will buy their products. There are thousands of companies in the United States that gather and analyze data about consumer interests, desires, likes, dislikes, motivations and concerns. Marketers use this data to focus sponsorships, direct mail campaigns and position their companies in the general culture. Marketers also use data from UPC codes at stores (often in combination with shopper discount cards) to determine who is buying their products, how often and where. This also gives them important information to use in making decisions about stocking, delivery and promotions. Insurance companies have a multitude of applications for quantitative data. Although many of these applications could transfer to other businesses, insurance companies have dozens of statisticians or actuaries on staff. Therefore, they have the manpower and know-how to analyze mountains of data. For example, insurance companies gather data about each salesperson in each line of business. They then analyze the data to see if there are similarities in the top salespeople so they can recommend improvements to those not doing so well. They also see which lines of business produce profit and which should be closed down because they are unprofitable. Insurance company actuaries also analyze data on accidents, fires, floods and other mishaps that require them to pay out money and use these analyses to set insurance rates for their customers.

Learning Experience at Texas

Texas A&M was certainly an experience different from anything I encountered before. I surely have had my share of studying in high school – in fact, it seemed at times that I had had more than I really wanted. The semester at Texas A&M, on the contrary, left me eager for more, seeking new revelations, interesting discoveries, meetings with friends and greater scope. It has also left me with a better understanding of the world so exquisitely made by our Creator and appreciation of its wonders. Education is certainly no small feat, and one needs real inspiration to get through the challening workload of math problems, English essays, and learning new concepts and ideas. The time I spent at Texas A&M not only helped me improve my educational background, equipping me with instruments to approach complex things, but also boosted my inspiration to overcome challenges and move toward my professional goals, step by step, each day making these goals come closer. I know now what I see as my main step: it is the completion of the Bachelor’s program at Texas Christian University. Its program is tailor-made to fit my personal needs and will help me move on in life. Texas A&M was to me a great lesson in the value of education. The time spent there also left me with a more serious attitude toward college studies. Being a Hurricane Katrina student, I for a time lived with the sense that there are more important problems to get over in this world than studies, and my mind was often focused on other things. This naturally affected my performance. As time went by, however, I could not remain indifferent to the intense learning process that was going on around. I learned that getting engrossed in studies was a good way to cope with shock, and that being in possession of valuable information makes one better prepared to conquer problems and challenges and take control of life. My strong Christian faith was a continuous source of inspiration in my studies at Texas A&M. It was my Walk with God that gave me the strength to master a new environment, improve my educational potential, and improve my educational performance. My prayers were a source of consolation in times of need and provided inspiration when I had to make another leap forward in my learning. I cannot underestimate the support of my friends. The environment at Texas A&M turned out to be ideal for establishing friendly contacts, and I at once felt encouragement and attention of other students who were willing to help me, given my traumatic background as a Hurricane Katrina student. I see human communication as an inalienable part of the education process. It is one feature that makes it inherently appealing to a sociable person like myself, eager to absorb knowledge through collective learning effort. My studies at Texas A&M were only a springboard for my future academic endeavors. In fact, I strongly believe that from this point on, I am about to embark on a lifelong learning adventure. I trust the words of Robert M. Hutchins who said â€Å"The object of education is to prepare the young to educate themselves throughout their lives.† I hope that college will give me a strong background from which to see and learn new things, quickly putting them in context. Such learning can never stop because a human mind is always receptive to new and new turns of events that swirl around. I believe that education obtained at Texas Christian University will prove to be an ideal foundation from which to begin my professional career. With its powerful Christian focus and impressive academic strength, the university will be an ideal place for me to turn myself into a really educated person. The university is an excellent opportunity to reach my goals and aspirations in life. I hope to get a chance to prove my worthiness of this great academic and Christian tradition receiving a place in TCU’s program.   

Pulse Width Modulation Final Year Project

Chapter 1 Introduction 1. 0 Background Pulse Width Modulation (PWM) is a type of devices that can be used as a DC motor speed controller or light dimmer. PWM is used extensively for speed controller where power-saving application is needed. This device has been used as a motor speed control for small DC fans, for example in computer power supplies. A PWM circuits works by creating a square wave with a variable on-to-off ratio, the average on time may be varied from 0 to 100 duty cycle.The term duty cycle describes the proportion of ‘on' time to the regular interval or ‘period' of time; a low duty cycle corresponds to low power, because the power is off for most of the time. Duty cycle is expressed in percent, 100% being fully on. From this, a variable amount of power is transferred to the load. The main advantage of PWM is that power loss in the switching devices is very low. When the switch is off there is practically no current, and when it is on, there is almost no vol tage drop across the switch.Power loss, being the product of voltage and current, is thus in both cases close to zero. PWM also works well with digital controls, which, because of their on/off nature, can easily set the needed duty cycle. Additional advantage of PWM is that the pulses reach the full supply voltage and will produce more torque in a motor by being able to overcome the internal motor resistance easily. 1. 1 Objectives The objectives of this project are: 1.To develop the actual circuit of the PWM. 2. To simulate the PWM circuit in simulation software. 3. To use the PWM in order to control the speed of the DC motor. 1. 2 Methodology Start Title consideration, ideas Supervisor approval Components specifications and data sheets Proposal Drafting Proposal Evaluation Project Simulation Project Presentation Progress Report Submission END Figure 1. 2. 1 Flowchart of Methodology 1. 3 Gantt Chart 1. 3. 1 Final Year Project 1 | WEEKS|ACTIVITY| 1| 2| 3| 4| 5| 6| 7| 8| 9| 10| 11| 1 2| 13| 14| 1| Student-supervisor-panel allocation, briefing about FYP, introductions|   |   | |   |   |   |   |   |   |   |   |   |   |   | 2| Student-supervisor meeting arrange time, finding ideas discuss ideas, project titles|   |   |   |   |   |   |   |   |   |   |   |   |   |   | 3| Student-supervisor regular meeting|   |   |   |   |   |   |   |   |   |   |   |   |   |   | 4| Proposal preparation|   |   |   |   |   |   |   |   |   |   |   |   |   |   | 5| Proposal evaluation, meet supervisor for evaluation, things to be improved|   |   |   |   |   |   |   |   |   |   |   |   |   |   | 6| Proposal correction correct any mistakes|   |   | |   |   |   |   |   |   |   |   |   |   | 7| Project Development choose circuit, check availability simulation|   |   |   |   |   |   |   |   |   |   |   |   |   |   | 8| Proposal and progress presentation|   |   | |   |   |   |   |   |   |   |   |   |   |   | 9| Progress report writing is based on progress|   |   |   |   |   |   |   |   |   |   |   |   |   |   | 10| Progress report submission submit report|   |   | |   |   |   |   |   |   |   |   |   |   |   | 1. 3. 2 Final Year Project 2 Week| 1| 2| 3| 4| 5| 6| 7| 8| 9| 10| 11| 12| 13| 14| Tasks| | | | | | | | | | | | | | |Buy Components |   |   |   |   | | | | | | | | | | | Construct circuiton breadboard | | |   |   |   | | | | | | | | | | Troubleshoot| | |   |   |   | |   |   | | | | | | | PCB Layout Design| | | | | |   | | |   | | | | | | PCB Layout Print| | | | | | | | | |   |   | | | | Soldering| | | | | |   |   |   | | | | | | | Final Report| | | | | |   |   |   |   |   |   |   |   |   | Final Presentation| | | | | | | | | | | | | | | 1. 3. 2. 1 Aims for Final Year Project 2 1. Prepare the actual circuit diagram 2. Building and programming the PCB circuit diagram 3.Drilling the PCB and soldering the components 4. Testing the PWM circuit 5. Troubleshoot 1. 3. 2. 2 Project planning for Final Year Project 2 For the final year project 2, we have to prepare the actual circuit based on our simulation result. We will create the PCB artwork with PCB programming such as ExpressPCB, which is available for free and is surprisingly functional. Next, we have to print out the PCB artwork on a transparency. Then we cut out the printed portion of the artwork. This will define the size and shape of the PCB.To make PCBs, we can use the UV exposure method, which is only slightly more difficult than and significantly more precise than the toner transfer method. To start out, we must cut the PCB to be the same size as the outline of the PCB positive. First, we drew a rectangle the same dimensions of the PCB on the protective layer of UV Reactiv e copper covered ibreglass board, and then cut it out using a Dremel tool equipped with a diamond wheel. We have to make sure that once we have removed the board from its protective package it will not be exposed to any UV.Fluorescent and halogen lights both output enough UV light that they will expose the board through the protective layer of plastic. Next, after we cut the UV sensitive PCB to size, we are ready to expose the board. Then we remove the protective layer to size, from the PCB right before we place the positive on it, or else dust particles will attach to the board, which will mark the final PCB. To expose the PCB, first remove the protective layer, place the positive transparency on top of the board, and place it in the UV exposure box. An exposure time of 10-11 minutes is recommended.Now we need to drill holes in the PCB for the through-hole components. Finally, we have to solder all the components through-hole components. If the final result is not achieved when tes ting the final circuit, we have to run troubleshooting and find out the problem. Then, we solved the problem based on the troubleshooting after we identify the real problem. Chapter 2 Circuit Design and Operation 2. 1 Schematic diagram Figure 2. 1. 1 Schematic Diagram of Pulse Width Modulation (PWM) To Control DC Motor Speed. 2. 2 Circuit operation 2. 2. 1 Flow Chart and Description Input Signal DC wave) ? IC NE556 Output Signal (Square wave) LM311 Comparator Potentiometer ? IC NE556 Output Signal (Modulated Square wave) IRF 521 DC Motor Figure 2. 2. 1. 1 Circuit Operation Flowchart The input signal is fed into first half of IC NE556. The IC NE556 will generate square wave. The wave will then go to the second half of IC NE556 and been modulated. Potentiometer will control the second half IC to produce the desired output. A modulated square will be generated from the second IC. This wave of current will be amplified by IRF521 and then went to the motor and spin it.The DC motor speed will depends on the magnitude of the current. Chapter 3 Project Progress 3. 0 The Project Progress and the Project Outcomes The first stage of the progress is building the circuit for the Pulse Width Modulation (PWM) circuit. Then, the best circuit diagram is chosen for our project. A preliminary literature review about our circuit had also been done. In this project, two of the LM556, Dual 556 Timer TTL IC were used to simulate the PWM circuit. The first IC allowed the possibility to generate square wave while the second IC allow modulation variation.Other than that, several problems were encountered when simulating some part of the circuit. This is due to incomplete library component of the simulation software such as the lack of LM556 IC in the first place. This was because the wrong type of licence of the software was selected. After a few trials and some changes of the circuit diagram for simulation, and with the right licence for the software, the PWM circuit was successfully simulated. Figure 1. 1 Expected DC square wave (output) Results Input Signal of 1st half of IC NE556 Output Signal of 2nd half of IC NE556Calculation from theory: Thigh= 0. 7(RA+RC)C Thigh= 0. 7(1M+1K) (0. 05 µ) = 0. 035s/35ms Tlow= 0. 7 RB C Tlow= 0. 7 (1K) (0. 05 µ) = 3. 5Ãâ€"10-5s/ 0. 035 ms Values from simulation: Thigh= 38ms Tlow= 42  µs/ 0. 042 m Input Signal of 2nd half of IC NE556 Output Signal of 2nd half IC NE556 (A=0%, B=0%) (A=0%, B=10%) (A=0%, B=50%) (A=0% B=100%) Calculation from theory: Thigh= 1. 1 RA C Rated Current From Simulation (A=0%, B=0%)I=45. 842mA(A=0%, B=10%)I=132. 953mA (A=0%, B=50%)I=406. 541mA(A=0% B=100%)I=4. 121A Table of Motor Speed Slow| Speed| Fast| 0%| Value of Potentiometer B| 100%| 0. 2077ms| T high (ON time)| 7. l79ms| 132. 95mA| Rated Current| 4. 121A| 12V| Rated Voltage (Constant)| 12V| Since voltage is constant, the higher the current supplied, the faster the motor would spin. Chapter 4 4. 0 The Problems Encountered CASE 1 – FIND ING SUITABLE SIMULATION SOFTWARE The PWM circuit uses two of LM556 IC. The first LM556 will convert DC input signal into square wave. Before doing the hardware of the project, the software need to be simulated first to check whether the circuit diagram is correct or need some adjustment.Because of this, finding the suitable simulation software had become a problem encounter to finish the project. List below show example name of other simulation software that can be used to run any the software simulation for the project; 1. TINA 2. OrCAD Capture 3. PROTEUS All of the other simulation software above can be use to run the simulation for this project but some of them were not suitable. As an example the TINA software were not used because of the unfamiliarity and the complexity of the software.The project also cannot be simulated using the OrCAD Capture since there were a large number of library which does not have simulation installed. This make it unsuitable since this project requir ed to be simulated. Meanwhile PROTEUS software was not used because of the difficult interface that complicate the user or in other words not user-friendly. CASE 2 – WRONG LICENCE OF SIMULATION SOFTWARE After MULTISIM had been installed, a situation was encountered where the library components are not complete or some of the components are not available.If this problem prolonged, the circuit cannot be designed in the software. Some measures had been taken to find the solution but the problems still persist. There are some types of licence that accompanied for MULTISIM, which are: 1Power PRO Edition 2Full Edition 3Student Edition 4Education PKG Edition 5Base Edition At first, the Full Edition licence was installed. When the circuit was being designed, a lot of components were unavailable. Every aspect of the software was checked, but no problem related to the software was detected. The MULTISIM software was cleanly installed in the computer. . 1 Solutions for Every Problem CAS E 1 SOLUTION – USE MULTISIM SOFTWARE The simulation can be done by using simulation programmed like TINA, Proteus, or OrCAD Capture. Unfortunately, all of these simulation programmed mentioned above have problems as explained before. Without a proper simulation, it is hard to detect any problems that exist in the design of the circuit. Finally, MULTISIM is chosen as the simulation program. MULTISIM was suitable for simulation of the Pulse Width Modulation circuit. MULTISIM has all the required components in its component library.Hence, all the components can be place in the circuit to complete it. Simulation can be done easily by using MULTISIM. All the results being cleared by using this programmed. Expected results are the PWM wave which will control the motor. CASE 2 SOLUTION – WRONG LICENCE OF SIMULATION SOFTWARE This problem was easily encountered by reinstalling licence of the right type. In this case, PowerPro Edition licence type was required. After it has been reinstalled, all the components are unlocked. Hence, the process of designing the circuit in the simulation software continued, and simulation process succeed.Chapter 5 Conclusion For this semester, the project progress was successful until the simulation. Hence, the simulation needs to be done correctly according to the circuit so that expected result can be obtained. The circuit diagram for PWM to Control DC Motor Speed has been successfully designed. Thus, the first objective has been achieved. The progress of the project works efficiently if the project followed accordingly to the Gantt chart made at the beginning of the project. The Gantt chart contains all the important steps that need to be followed in rder to finish the project successfully. All the steps in the Gantt chart been mentioned with respective date. Hence, there should be no problem during Final Year Project 1 when all works were being done according directly to the Gantt chart. The simulation for PWM to Control DC Motor Speed had been done by using simulation program, MULTISIM. MULTISIM provides all the necessary components to complete the simulation for the PWM circuit. Since the output should be a DC motor or a DC fan, it was replaced with Oscilloscope or Multimeter to observe the changes that occur in the simulation.This shows that choosing MULTISIM is the smart choice to run the simulation because of the advantages and the ease of use that this simulation program has. REFERENCES 1. Motor Speed Controller, retrieved from http://homepages. which. net/~paul. hills/SpeedControl/SpeedControllersBody. html 2. 4QD-TEC: Electronics Circuits Reference Archive : PWM speed control, retrieved from http://www. 4qdtec. com/pwm-01. html 3. PWM Motor Speed Controller / DC Light Dimmer, retrieved from http://www. solorb. com/elect/solarcirc/pwm1/ 4. PWM DC Motor Controller, retrieved from http://picprojects. org. uk/projects/ppc/index. htm

Global Warming and other Ecology Issues; The Energy Crunch Essay

Global Warming and other Ecology Issues; The Energy Crunch - Essay Example These gases allow sunlight to penetrate the atmosphere then trap some of the solar energy which heats the earth (Breuer, 1980). It is a delicate balance and because these greenhouse gases have been artificially augmented by man-made sources, more build up in the atmosphere has occurred thus trapping more of the sun’s energy and reflecting less back in to space. This occurrence is causing the earth to warm. Carbon Dioxide (CO2) is the most prevalent of the greenhouse gases. Although deforestation is contributing heavily to the excess of CO2 in the atmosphere, a larger portion is caused by the burning of fossil fuels such as oil and coal. Fossil fuels are burned by factories, vehicles and electricity-producing power plants to name a few sources. Other greenhouse gases include methane, which is released when vegetation is burned during land clearing, during oil exploration activities and the coal-mining process; chlorofluorocarbons (CFCs), which is the substance that cools refrigerators and provides the propulsion in aerosol cans and nitrous oxide (N2O) which is the lesser cause of CO2 (Breuer, 1980). It is generated from both man-made and natural processes. Although warnings about the human generated causes of an enhanced greenhouse effect and the subsequent catastrophic outcomes have been sounded for over 100 years, global warming has only recently become an important political matter. One would have to wonder what enormous problems this will cause not only to people and property but to the health of the global economy as a whole. Entire sections of various countries will be forced to abandon their homes and businesses. The process will be a slow and torturous one. Agriculture activity, land masses and the very air we breathe will suffer a radical change from the effects of global warming. The question before us is, are we stewards of our earth and will we preserve it for future

How do you account for the global decline in trade union membership in Essay

How do you account for the global decline in trade union membership in the past 25 years . Critically assess whether this is a trend to be welcomed or deplored - Essay Example They face problems of retaining quality members. It has been found that there is substantial erosion not only in the membership but also in the bargaining power of the unions. For developing close understanding with the recent trends in the fall of the trade union membership, it has been intended to enlighten the present scenarios of two countries- United Kingdom (UK) and Australia. It has been found that the trade union membership has been reduced over the previous two decades in the UK. According to the statistics of 1979, there were 13.3 million people under the membership of trade unions which refers to 55% of the overall employees. Decline in the trade union membership during the period of 1995 to 2006 can be exhibited through a diagram. Several reasons are there for the decline in the memberships. Firstly, the drastic reduction in the number of jobs mainly in the manufacturing industries that acquire traditionally higher amount of union membership can be blamed. Secondly, increasing level of unemployment is also held responsible for the decline. Recent trends say that traditional full time employment has been reduced whereas an increase in the part time workers has been noticed which is not beneficial to the increase in trade union membership. In small organisations, it is difficult to form trade unions and a sharp amplification in the proportion of employed workforce has been observed. Hostile legislation can be considered as another reason of decline in the UK (TUC, 2010). Across Australia, a sharp decline in the trade union memberships has been noticed. The declination is a result of significant transformation in the ‘industrial relations environment’. Data reveals that 46% of the entire employee force in the year of 1986 belonged to the trade unions. Opening up of individual and collective bargaining and gaining prominence of decentralised bargaining, has reduced the importance of the unions in the

Statistics MT Speech or Presentation Example | Topics and Well Written Essays - 2000 words

Statistics MT - Speech or Presentation Example Hence, the 95% confidence interval for the population mean using the Students t-test is given by, In such cases, the placement of the central tendencies are Mean 5. the positively skewed cumulative distribution curves are characterized by a concentration of mass on the left-hand side of the curve. Such a curve is drawn in the side diagram. Quite clearly, since the median considers the mid-point of the curve and the mean of the curve is actually the weighted mean, considering the frequencies with which each observed value appears, the mean has a greater value than the median in this case. Thus, the rational agent will accept the mean salary of major league baseball players, rather than the median salary. 6. The decision to eliminate an applicant could be taken only after studying the percentage mean of their test marks and the variations of the marks obtained in each test from the population mean value, which is measured by the standard deviation of the observations from the mean. The higher the population mean and lower the standard deviation are, the better is the situation considered. In fact, a high standard deviation implies a lower consistency in activities and thus the situation which displays the highest value, is considered as the worst one. In this particular case, it is found that the test results of Applicant 3 has the highest standard deviation and thus he is the one ho should be eliminated. = (800/2000) x 100 = 40%. From the normal table it is known that at 95% confidence interval using to-tailed tests, the value of the standard normal variate is 1.96. Hence, the formula to calculate the 95 percent confidence interval about the true population percentage

Management Theories Assignment Example | Topics and Well Written Essays - 750 words

Management Theories - Assignment Example The both are geared towards improving the productivity of organizations as well as their effectiveness which is quite evident in the scientific theory as it tries to follow all the simplistic and universal set rules in order to realize higher productivity in the organizations and make everything run smoothly. A similar spirit is seen in the humanistic theory as it stresses on situational suitability and coming up with principles that assure them of their success without having to rely on the universal ones (Robbins, 2006). All this is geared towards achieving success in the management of these organizations as well as their effectiveness.Both theories try to make an improvement on the relationship between managers and their workers as seen with the scientific theory through emphasis of working with togetherness between the workers and managers. On the same note, the humanistic theory also insists on managers understanding organizational situations before figuring out the best way to work with and through other people as they co-ordinate activities. As all these are done for the better of the managers and the workers, it is meant to improve the relationship between them and make the work environment comfortable.Both the scientific and humanistic theory have diversified views on how to improve management and create efficiency in the organizations and be sure that their goals are achieved. Though they have common goals of improving management and efficiency in organizations.