Question 4 Explain the following terms in detail (give examples where necessary): (a.) Arithmetic mean
(b.) Harmonic mean
(c.) Geometric mean
(a.) Arithmetic Mean: The arithmetic mean (or the average, simple mean) is computed
QUANTITATIVE TECHNIQUES IN MANAGEMENT
Question 1: How has quantitative analysis changed the current scenario inthe
management world today?
Quantitative analysis requires the representation of the problem
using amathematical model. Mat
Question 3: What is the significance of Regression Analysis? How does it help a manager in
the decision making process?
Regression analysis is a powerful technique for studying relationship between dependent
variables (i.e., output, performance me
Question 2: What are sampling techniques? Briefly explain the cluster sampling technique.
A sample is a group of units selected from a larger group (the population). By studying the
sample, one hopes to draw valid conclusions about the larger grou