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You were recently hired by E&T Boats, Inc. to assist the company with its financial planning and to evaluate the company's performance. E&T Boats, Inc. builds and sells boats to o
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
Based on the following graphs (next page) you should write a discussion report (2 pages) on: 1. Determination of whether the open-loop system response is consistent with a 1st o
Comparison of the Principal Averages-Mean, Median and Mode The mean, median, and mode are located at the same point in a symmetrical frequency distri
Andrews ‘Plots A graphical display of multivariate data in which an observation, x0 = [x1, x2, . . . , xq] is represented can be represented in the form of function A set
(a) If one solves the ordinary differential equation using Euler's method find an expression for the local truncation error. (b) Using the result of (a) above what will
Analytical Approach We will illustrate this through an example. Example 1 A firm sells a product in a market with a few competitors. The average price charged by the
For a distribution of scores with = 82 and standard deviation = 2.5, find the following: (Don't forget to sketch the normal curve to help you visualize what you are trying to fi
Significance of Correlation The study of correlation is of immense use in practical life. Correlation analysis contributes to the understanding of economic behavior, aids in lo
Assumptions in ANOVA The various populations from which the samples are drawn should be normal and have the same variance. The requirement of normality can be discarded if t
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