Quantitative analysis for management 13th edition pdf download
Test Bank for Quantitative Analysis for Management 13th Edition by Barry Render
Chapter Introduction to Quantitative Analysis 1. Section 1. In this section, a number of qualitative factors, including federal legislation and new technology, are discussed. Students can be asked to discuss other qualitative factors that could have an impact on quantitative analysis. Waiting lines and project planning can be used as examples. Teaching Suggestion 1.
Teaching Suggestion 2. Students need to understand where probabilities come from. Sometimes they are subjective and based on personal experiences. Other times they are objectively based on logical observations such as the roll of a die. Often, probabilities are derived from historical data—if we can assume the future will be about the same as the past. This concept is often foggy to even the best of students—even if they just completed a course in statistics. Use practical examples and drills to force the point home.