Quantitative Methods in Business
Question about sets and set theory:
Why is it important to be able to identify sets and theory as related to business?
Questions about functions:
What applications do you think functions have for the business world?
Can functions be used to predict next year’s profits, or how much your company will grow?
Questions about linear equations:
Why is it important to understand linear equations in business?
Can you provide examples where the relationship between items that can be affect by management and items that management wished to achieve or attain may be ‘linear’?
Can you think of items for which the relationship is not linear?
Questions about risk:
What do you think is the typical situation in the business world: risk or uncertainty?
Can you think of situations in the business world or other real life situations where you would need to estimate probabilities?
Questions about central tendency:
From a business prospective, which measurements is more important, the mode, the mean, or the median?
Provide examples (Business related) that demonstrate the appropriateness of one of these measures and the inappropriateness of the other two in a particular situation?
Can you think of a situation where another one of the measures is more appropriate of relevant?
Question about quantitative methods in business:
What are two concepts that you believe are more applicable in business administration.