Discuss the tools you use and how quantitative analysis

Assignment Help Operation Management
Reference no: EM131039504

Identify two instances in which you use a form of quantitative analysis in your daily lives. Discuss the tools you use and how quantitative analysis helps you make better decisions. Examples might include selling an item to a customer, calculating simple financial ratios, changes in the share prices, or assessing the probability of an event, using subjective approaches such as what are the odds that it will rain tomorrow.

• Do you think the tools you use work well? If yes, explain why do you think so; if no, then suggest what other tools can be used in the identified instances.

Reference no: EM131039504

Questions Cloud

Products annual holding costs : Johnson Product's places an order for inventory 4 times a year, at a reordering cost of $500 per order. The cost of carrying inventory is 20% per year. What is Johnson Product's annual holding costs? a. $2,000 b. $5,000 c. $7,500 d. $8,500
Degree in broadcast journalism-applied for the job : The local T.V. station has an opening for evening sports caster. Yvonne, a recent graduate with a degree in broadcast journalism, applied for the job. She was told that they had to hire a man because the job required covering the local high school fo..
Peak hour utilization defined based on their operating level : A burger joint experiences demand at the rate of 150 customers/hr in its peak lunch time rush hour. They have the capacity based on their equipment and labor force to serve only 140 customers/hr. However, the quality of their burgers starts to declin..
Circumlocution the ad hominem argument hasty generalization : A car salesman says this, in order to get you to buy a new car from him: "Buddy! You gotta buy this car. You've seen how you either need to drive one of these or take the bus!" This type of faulty logic is an example of _____.  Circumlocution the ad ..
Discuss the tools you use and how quantitative analysis : Identify two instances in which you use a form of quantitative analysis in your daily lives. Discuss the tools you use and how quantitative analysis helps you make better decisions. Do you think the tools you use work well? If yes, explain why do you..
What is the turnover ratio : A university credit union that serves a very large student population has an ATM in the student union where several cafes, restaurants, game rooms, gift shops and other unique shops are located. Several inspections of the ATM indicated and average of..
Predict the long-run market share of new mens deodorant : A company is trying to predict the long-run market share of a new men's deodorant. Based on initial marketing studies, they believe that 35% of new purchasers in the market will ultimately try this brand. They believe that customers will purchase the..
A burger joint experiences demand at the rate : A burger joint experiences demand at the rate of 150 customers/hr in its peak lunch time rush hour. They have the capacity based on their equipment and labor force to serve only 140 customers/hr. However, the quality of their burgers starts to declin..
Use the null keyword to display : Use the NULL keyword to display the s_id and c_sec_id for records that have no value for the field grade from the table uc_enrollment. Display faculty id, first name and last name when the faculty last name contains a letter ‘w’ (upper or lower case)..

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd