QUANTITATIVE METHOD

Quantitative Method

Quantitative Method

Ans1. A complementary event refers to an event that is held other than the scheduled activity because of a specific reason. Mutually exclusive events are those events that are held in combination with each other. An independent event is an event which is held for a specific occasion.

Ans2. The key properties of discrete probability distribution are that a value can occur at any stage. On the other hand, the continuous probability distribution refers those values that keep on changing at regular intervals.

Ans3. There are different phenomena's which are followed in the businesses. A normal distribution refers to the various set of statistical values. The Poisson distribution also makes an attempt to study the different probability functions. The Exponential distribution also makes an attempt to solve the statistical questions.

Ans4. The mean refers to the average of the values taken in a particular set. The mode represents only one value in a particular set. The variance refers to the overall value derived from the mean of a particular set. The standard deviation includes the multiplication of the values which includes variance. The coefficient of variation also includes the derived from the standard deviation.

Ans5. The point estimates refers to the value which is obtained from the given numeric values. The confidence interval denotes the value of the probability value which highlights a specific range to calculate the statistical value.

Ans6. The Sampling theory has a lot of value because it helps in calculating the probability of different values which are selected for a particular sample size.

Ans7. Probability distribution indicates the range of values ??that can be represented as an experiment result if this would be carried out. That is, describes the probability that an event takes place in the future, is an essential tool for prospective, since people can design a scenario of future events considering the current trends of natural phenomena. Any probability distribution is generated by a variable (because it may take different values) random x (because the value taken is completely random), and can be of two types. The two types of variables are known as Discrete Random Variable and Continuous Random Variable.

Ans8- There is three major factors that determine the sample size in a research study. The three major factors are:

Number of Variables

The characteristics of respondents

The selection of a research instrument

Ans9. There are numerous factors which describes the decision making process in an organization. The modeling terminology includes several components that highlight the importance of decision variables, uncontrollable variables and objective function.

Ans10. The expected value represents the value which can be obtained from the calculation of the probability sum.

Ans11. The simulation is a technique which is used to highlight different values. It is used to highlight the errors included for a research.

Ans12. The parameters of the performance measures are quite wide as there are different options for the quantitative statistics. The parameters of the business performance need to go through detailed ...