It is perhaps too easy to get caught up in this, however. Reducing Clauses to Phrases, Phrases to Single Words Be alert for clauses or phrases that can be pared to simpler, shorter constructions. The "which clause" can often be shortened to a simple adjective.
Using the model to find the solution: It is a simplified representation of the actual situation It need not be complete or exact in all respects It concentrates on the most essential relationships and ignores the less essential ones.
It is more easily understood than the empirical i. It can be used again and again for similar problems or can be modified. Fortunately the probabilistic and statistical methods for analysis and decision making under uncertainty are more numerous and powerful today than ever before.
The computer makes possible many practical applications. A few examples of business applications are the following: An auditor can use random sampling techniques to audit the accounts receivable for clients. A plant manager can use statistical quality control techniques Inferences concerning two means assure the quality of his production with a minimum of testing or inspection.
A financial analyst may use regression and correlation to help understand the relationship of a financial ratio to a set of other variables in business. A market researcher may use test of significace to accept or reject the hypotheses about a group of buyers to which the firm wishes to sell a particular product.
A sales manager may use statistical techniques to forecast sales for the coming year. What are the objectives of the study or the questions to be answered? What is the population to which the investigators intend to refer their findings? Is the study a planned experiment i. How is the sample to be selected?
Are there possible sources of selection, which would make the sample atypical or non-representative? If so, what provision is to be made to deal with this bias?
What is the nature of the control group, standard of comparison, or cost? Remember that statistical modeling means reflections before actions. Is the method of classification or of measurement consistent for all the subjects and relevant to Item No.
Are the observations reliable and replicable to defend your finding? Are the data sufficient and worthy of statistical analysis? If so, are the necessary conditions of the methods of statistical analysis appropriate to the source and nature of the data? The analysis must be correctly performed and interpreted.
Which conclusions are justifiable by the findings? Are the conclusions relevant to the questions posed in Item No. The finding must be represented clearly, objectively, in sufficient but non-technical terms and detail to enable the decision-maker e.
Is the finding internally consistent; i. Can the different representation be reconciled? When your findings and recommendation s are not clearly put, or framed in an appropriate manner understandable by the decision maker, then the decision maker does not feel convinced of the findings and therefore will not implement any of the recommendations.
You have wasted the time, money, etc. What is Business Statistics? The main objective of Business Statistics is to make inferences e.
The condition for randomness is essential to make sure the sample is representative of the population. It provides knowledge and skills to interpret and use statistical techniques in a variety of business applications. A typical Business Statistics course is intended for business majors, and covers statistical study, descriptive statistics collection, description, analysis, and summary of dataprobability, and the binomial and normal distributions, test of hypotheses and confidence intervals, linear regression, and correlation.
Statistics is a science of making decisions with respect to the characteristics of a group of persons or objects on the basis of numerical information obtained from a randomly selected sample of the group.
Statisticians refer to this numerical observation as realization of a random sample. However, notice that one cannot see a random sample.
A random sample is only a sample of a finite outcomes of a random process. At the planning stage of a statistical investigation, the question of sample size n is critical.
For example, sample size for sampling from a finite population of size N, is set at:lausannecongress2018.com The Romance of Steel A History of the Steel Industry by Herbert Newton Casson THE BIRTH OF THE BESSEMER PROCESS. On that bleak November day when Andrew Carnegie was born in a Scottish cottage, the iron and steel makers of America had no more thought of millions than of castles in Spain.
Steel sold for twenty-five cents a pound. John Locke (b. , d. ) was a British philosopher, Oxford academic and medical researcher. Locke’s monumental An Essay Concerning Human Understanding () is one of the first great defenses of modern empiricism and concerns itself with determining the limits of human understanding in respect to a wide spectrum of topics.
It thus tells us in some detail what one can legitimately claim. Whether it's a two-word quip or a word bear, a sentence must be a lean, thinking machine. Here are some notes toward efficiency and conciseness in writing. Concerning the Origin of Peoples. The Ancient Identity of Hungarians The Hungarian-Hebrew Connexion - An essay realized with the valuable contribution of the Hungarian scholar Hargita Csaba -.
II. The Knowability of God A. God Incomprehensible but yet Knowable. The Christian Church confesses on the one hand that God is the Incomprehensible One, but also on the other hand, that He can be known and that knowledge of Him is an absolute requisite unto salvation.
the capacity or faculty of thinking, reasoning, imagining, etc.: All her thought went into her work. a consideration or reflection: Thought of death terrified her.
meditation, contemplation, or recollection: deep in thought. intention, design, or purpose, especially a half-formed or imperfect intention: We had some thought of going. anticipation or expectation: I had no thought of seeing you here.