...Benefit of Quantitative Reasoning for Business Johnny Test University of Alabama With the dismal condition of the United States economy one can’t help but wonder why. Having been a country of great ambition and innovation the United States of today is dying. This country once produced some of the world’s brightest minds. As of late however there seems to be more value placed on religious and superficial beliefs than that of educating today’s students in areas of science and mathematics. These are the areas that promote critical thinking, reasoning, and problem solving skills. It is these skills that once kept this great nation a float and ahead of the rest. With the introduction of Quantitative Reasoning we will be able to pull out of this economic disaster we are currently living in today. Quantitative Reasoning is a course we are required to take halfway through the MBA program at the University of Phoenix. It applies quantitative reasoning skills to business problems. During which we will learn to analyze data using a variety of analytical tools and techniques. It combines many areas of study such as, formulas, visual representations of quantities, time value of money, and measures of uncertainty. The diversity of this course challenges our critical thinking, reasoning, and problem solving skills we will need to succeed in later course. It uses math formulas that will be critical for accounting. Visual representation of quantities used in statistics and economics...
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...Reasoning for Business 1 Quantitative Reasoning for Business Torry Dulaney University of Phoenix Reasoning for Business 2 Quantitative Reasoning for Business Upon first glance at the Quantitative Reasoning for Business Overview, I was initially like a deer caught in headlights. What did I sign up for? But after research, I found out that my reaction was not unusual for nonmathematical majors. If you haven’t noticed yet math was not one of my favorite courses. However, upon further review the QRB is essential in preparing for future courses in economics, finance, accounting, operations and research. QRB focuses on practical applications of mathematics, in college, career and life. The QRB topics include, for example, income taxes, statistical reasoning, mathematics, voting theory, and exponential growth. Using and understanding the QRB will assist me in being successful in math in the rapidly changing workforce. The QRB should improve my critical thinking and problem solving skills. It also should prepare me to identify and intelligently face problems that I may encounter in my daily life that require quantitative reasoning. “With quantitative reasoning skills, one can integrate deductive logic aspects from multiple knowledge dimensions into program evaluation and research” (Patton...
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...the Quantitative Reasoning for Business (QRB) Overview document, I can be broadly categorized as techniques of management science—a field melding portions of economics, financial, accounting and operation and research into a pragmatic effort to help an aid into the decisions making process. As an area of study, these QRB are often identified by giving the fundamentals needed (stepping stones) to apply to each class thereafter. In solving a problem, I might consider both qualitative and quantitative factors. For example, in term of economics, a variety of quantitative techniques have been developed to forecast future values. Future sales are the most important variable in business forecasts. Unit sales establish levels for most business activities— from purchasing and production to marketing—and knowledge about sales is a prerequisite to the budgetary and planning process. In term of financial, I might consider different investment alternatives, including certificates of deposit at a bank, investments in the stock market, and an investment in real estate. I can use quantitative analysis to determine how much my investment will be worth in the future when deposited at a bank at given interest rate for a certain number of years. In term of accounting, quantitative analysis can also be used in computing financial ratios from the balance sheets for several companies whose stock I am considering. Some real estate companies have developed computer programs that use quantitative analysis...
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...This chapter provides an overview of the world of testing. Of course, everyone knows, at least roughly, what we mean by a “test” or “testing.” Everyone has at least some familiarity with a variety of tests, for example, college admission tests, final examinations in courses, vocational interest inventories, and perhaps some personality measures. However, as we begin formal study of this world, it is important that we develop both a more comprehensive and a more precise understanding of the field. More comprehensive so that we consider all types of tests and all relevant issues:We do not want to miss anything important. More precise so that we begin to acquire the technical expertise needed by professionals within the broader fields of psychology and allied disciplines: We will not be satisfied with just a passing acquaintance with these topics.This is an ambitious agenda for one chapter. However, this opening chapter seeks only to provide an overview of these matters. The remaining chapters supply the details. There are a variety of ways to accomplish our goal of providing an overview and orientation to the field. No single way is best. We will use five perspectives or approaches to introduce the field, viewing it, as it were, from different angles or through different lenses. First, we outline the major categories of tests. Most of these categories correspond to chapters in the latter half of this book. In the process of describing these major categories, we mention examples...
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...Quantitative Research Article Critical Appraisal Overview The article by Eyikara and Baykara (2018) titled Effect of Simulation on the Ability of First Year Nursing Students to Learn Vital Signs focuses on the influence simulation has on first-year nursing students' ability to learn vital signs (Eyikara & Baykara, 2018, pg. 101). I chose this article because I recently shadowed a former co-worker of mine who is now a college professor. I was able to observe students during simulation exercises, and I quickly realized how important simulation is for nursing students. I did not have the same amount of simulation when I was in nursing school as students do now, so I am interested in learning all I can about the research behind using it as an effective teaching method. Problem Statement There is lack of research in the area of how cognitive and psychomotor skills are obtained, in combination with the measurement of vital signs in adults with measurement of knowledge scores (Eyikara & Baykara, 2018). The problem statement wasn't stated in a bold way, but after the background information was expressed in the literature review, it was easy...
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...All of the topics from the Quantitative Reasoning for Business Overview document are important for managers to be able to consider. It is difficult to say which one or two would be more important than all of the others. I am one that believes the sole purpose of a company is to make money so the two I pick will have to do with the measurement of profits. The first topic I have chosen as important to understand is the question of “What price should we set to increase revenue?” This is very important to know because price setting is a balancing act. If the price that is set is too high, some people will avoid purchasing that product and therefore revenue would not increase. If a price is increased and it causes some consumers to look elsewhere, revenue could stay relatively flat or even decrease. If a price is set too low, sales could increase but it would create a shortage and there is a situation where the company left money on the table and could have made more profit on the same amount of product. In this case the company left money on the table. Careful research would have to be done in advance of price setting to make sure that the price set is right for the amount of product that can be produced and at the highest possible profit margin. The second topic I have chosen is, “Can we make more money by adding new equipment?” This is important to be able to figure out because if more money can be made by investing in equipment then it is worthwhile to make the investment. If...
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...The Effects of Changing Demographics in South Bend, Indiana South Bend, Indiana’s economic base consists of educational, health services, retail, and manufacturing. Manufacturing industries in the area include non-electrical machinery, transportation equipment, rubber, and various plastic products. Scope The research will provide an overview of the vital changes in the demoagraphics of South Bend, Indiana. Focusing on what the changes are and how they have affected the demographics of this area. This study is not intended to be a complete analysis and will be conducted primarily with the use of existing validated data and peer reviews on subject matter gathered over a four-week period. Additional limiters imposed on this study include the...
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...Forecasting with Time Series QRB/501 Quantitative Reasoning for Business February 7, 2012 Forecasting with Time Series For most companies, forecasting is very important. Their future can be determined with forecasting and this also helps pin point the problems of the past. Forecasting can be done in many methods, depending on what exactly is being forecasted. A forecasting tool used to determine demand for various commodities or goods in a given marketplace over the course of a typical year (or a shorter time period). Such an index is based on data from previous years that highlights seasonal differences in consumption. In some industries, the seasonality index experiences huge swings. (Business Dictionary, 2012) This forecasting tool is known as seasonal indexing. Find the seasonal index for summer historical inventory data below. Summer Historical Inventory Data Summer historical inventory data measures monthly figures in units four times a year. Data forecasted helps the company with inventory demands for the following year. Organizations should average a certain amount each month for a four year forecast. Organizations estimate demand for that month for the fifth year. Companies should average demands each year, and display average demands per month for that year. Data helps provide the organization, an overview with demands from one year to another year (brainmass, 2004, 2011). Organizations should identify the sequence of observation...
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...Research proposal An investigation into nursing skills in recognising clinical deterioration of patients in acute care setting in Saudi Arabia Introduction Acute care nurses are expected to demonstrate skills with regards to early detection of deterioration in patients and seek for emergency support. This is indispensable for delivering safe patient care, and thereby to save lives (Cioffi 2009). Nevertheless, ensuring patient safety in acute care setting is still a challenge in the healthcare system in Saudi Arabia (Aldossary, While & Barriball 2008; Almalki, FitzGerald & Clark 2011). Till date, no systematic approach has been undertaken to ensure that acute care nurses are aware of the emergence of new knowledge as well as technological advances that are necessary for early identification (Aldossary, While & Barriball 2008; Al-Ahmadi 2009; Almalki, FitzGerald & Clark 2011). Early identification with patients who are in need of emergency care can prevent cardiac arrest and lessen morbidity and mortality (Cioffi 2009). This study aims to obtain an in-depth understanding of the current level of competence of acute care nurses in Saudi Arabia in terms of their knowledge, skills and attitudes. The findings will be used to develop an integrative model that can provide acute care nurses with effective education and training so that they can be prepared more effectively to identify clinical deterioration at early stages. Literature review According to Grossman & Wheeler...
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...between qualitative and quantitative research methods Source: SEEP-AIMS 2000 Learning from Clients: Assessment Tools for microfinance practitioners. Washington, DC: AIMS/Management Systems International () Quantitative and Qualitative Methods As outlined in the previous chapter, the AIMS/SEEP approach to impact assessment by and for practitioners combines quantitative and qualitative techniques. The Impact Survey and Client Exit Survey are categorized as quantitative tools because they collect standardized information by asking exactly the same questions to clients and organizing their answers into quantifiable response categories. The individual Loan Use Strategies Over Time and Client Empowerment interviews and the Client Satisfaction focus group discussions are qualitative instruments that gather more detailed information through a more flexible, in-depth dialogue with clients. AIMS believes that these two categories of tools are complementary, each providing different types of information that enable evaluators to gain a more complete, richer picture of impact than would be possible with only one. This chapter's overview to quantitative and qualitative approaches presents the differences between the two techniques and provides general guidelines for their application. The interviewers' roles and responsibilities for both quantitative and qualitative techniques outlined here apply to all the corresponding tools presented in this manual. Quantitative? Qualitative? What Is...
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...10 Steps to Earn a High GRE Score The following is a guide to scoring high on the GRE test. If you follow these steps, your GRE score will improve. 1. Relax: Preparing for the GRE can be stressful. Try to focus on the task at hand and not so much on everything else you have to do. If you take GRE test prep step-by-step, day-by-day, and give yourself breaks when your body needs them, you'll be able to concentrate on GRE studies a lot better. 2. GRE Diagnostic Test: Begin GRE test prep with a GRE practice test to find out what you're good at, and more importantly, what you're not good at. Correct your completed practice test and evaluate the questions you missed. What kind of questions did you miss? Are they mostly Quantitative or mostly Verbal? What score would you give yourself on Analytical Writing? Did you miss a lot of analogies but do well on reading comprehension? With this information you'll be able to focus your GRE test prep studies on your weaknesses. 3. GRE Study Plan: With your GRE weaknesses in mind, make a very specific study plan for yourself. You should know what, how, and when you are going to study for the GRE test. Put your study plan somewhere in plain view, and make sure you stick to your plan. Try to keep GRE test prep interesting by planning to study different things in different ways. For example, study GRE vocabulary from flash cards one day, from a list the second day, and by reading and learning words in context the third day. 4. GRE Vocabulary: ...
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...survey. The focus of the study includes one qualitative data set (company position) and one quantitative data set (intrinsic). To support the analysis the following are also included in this paper: reason why these particular data sets were selected, calculations used, reason why some statistical measures did not apply to certain data sets, and what was learned from the analysis. Additionally, a graphical depiction to support data calculations and a conclusion is included. Introduction A job satisfaction survey is an analysis of employees who are satisfied with their job and the duties they perform. The proceedings of this paper include a qualitative and quantitative data collected during a job satisfaction survey. Quantitative data are data values that are numeric. Whereas, qualitative data are data values that can be place into distinct categories according to some of their character tics or attributes. The study serves as a foundation for future analysis in an effort to make accurate conclusions in regards to understanding global job satisfaction. A logical explanation for selecting the data sets analyzed as well as what was derived from the selected data sets will be provided. Qualitative Data: Company Position For this analysis I have chosen to use the company position data set for my qualitative assessment. The logic for this decision was based on an initial overview of the company position data set. This initial review illustrated that there are more...
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...COURSE SYLLABUS AP STATISTICS Course Description: The purpose of this course is to introduce students to the major concepts and tools for collecting, analyzing, and drawing conclusions from data. Students are exposed to four broad conceptual themes: • Exploring Data: Describing patterns and departures from patterns • Sampling and Experimentation: Planning and conducting a study • Anticipating Patterns: Exploring random phenomena using probability and simulation • Statistical Inference: Estimating population parameters and testing hypotheses Students who successfully complete the course and examination may receive credit and/or advanced placement for a one-semester introductory college statistics course. Textbook: The Practice of Statistics, 3rd ed. (2008) by Yates, Moore and Starnes (Freeman Publishers) Calculator needed: TI-83 Graphing Calculator (Rentals Available) TI-83+, TI-84, TI-84+ are acceptable calculators as well Note: Any other calculator may/may not have statistical capabilities, and the instructor shall assist whenever possible, but in these instances, the student shall have sole responsibility for the calculator’s use and application in this course. AP STATISTICS Textbook: The Practice of Statistics, 3rd edition by Yates, Moore and Starnes Preliminary Chapter – What Is Statistics? (2 Days) A. Where Do Data Come From? 1. Explain why we should not draw conclusions based on personal experiences. 2....
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...Quantitative and Qualitative Quantitative and Qualitative Research The purpose of this paper is a comprehensive comparison of quantitative vs. qualitative research techniques for MBA 5210 Business Statistics. The paper will weigh the relative merits and demerits of each providing interpretation of the potential applications of qualitative and quantitative research to various fields of study as per the requirements of the paper. Qualitative and Quantitative Overview Researchers have long debated the relative merits quantitative vs. qualitative research techniques have to offer field researchers. It is important that one understand the implications of each in order to weigh the relative importance and relevance of each to the field. Qualitative and quantitative methods have a long history of providing researchers with information regarding specific events, phenomena and subjects. The primary difference between the two forms of investigation is the methods each employs to uncover the ‘reality’ behind a given situation. These separate realities are explored below. Benz & Newman (1998) suggest that qualitative and quantitative research methods align in a continuum. Qualitative research derives its foundation in naturalistic philosophy, whereas quantitative research focuses on positivistic philosophy (Benz & Newman, 1998). Qualitative research is more likely to adopt an individual phenomenological perspective, whereas quantitative approaches tend to emphasize...
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...Final Assignment (Term Paper) : Research Focus and Methodologies for Understanding Innovation in Small-Medium Enterprises (SMEs) Course : Qualitative Case Study Research Faculty : Prof. Rajen Gupta, MDI Submitted by : Davinder Singh, EFPM (2011) Research Focus and Methodologies for Understanding Innovation in Small - Medium Enterprises (SMEs) Introduction Innovation is a product, service, or process that is new or perceived as new by its developers and provides increased value to user and organization (Van de Ven, 1986). The ability of an organization to innovate is increasingly being considered as the most important factor for competitive advantage (Tidd et al., 2001). Importance has been laid on building innovative organizations and the management of the innovation process with the organizations. This is increasingly being considered important for small-medium enterprises (SMEs) and has been researched from multiple perspectives. The aim of this paper is to discuss, the areas of innovation in SMEs which are focus of recent studies, and the various research methodologies utilized for these studies. The importance to study innovation in SMEs is discussed in the succeeding section. This is followed with discussion on research studies undertaken in this field in the recent past. The difference in the ontological perspective and the consequent use of different research methodologies has been discussed using construct of ‘knowledge’ as illustration. Innovation...
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