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What is the utility of statistics as a managerial tool?
utility of statistics as a managerial tool
Discuss the utility of statistics as a managerial tool Also describe its limitations?
The limitation of any statistical application is the fact that it always depends on some sampling. If this sampling is incomplete, or not representative of your actual base (say customers), your data may not yield accurate conclusions. Additionally, since it depends on sampling, your measurement is only applicable to a base that fits the profile of your sampling. For instance, if you took your sampling from Caucasian males over age 35, and it turns out your customer base has a large number of African, American females under 23, your conclusions based on the statistics could be imperfect.
How do you calculate utilization?
Now days, Many online utilities comparison websites are available. It has provided accurate and full information about your utility calculation. In Australia, you can easily get area wise information about electricity and gas utility calculation by the simple method use calculator.
What is the total area under the normal distribution curve?
The area under the normal distribution curve represents the probability of an event occurring that is normally distributed. So, the area under the entire normal distribution curve must be 1 (equal to 100%). For example, if the mean (average) male height is 5'10" then there is a 50% chance that a randomly selected male will have a height that is below or exactly 5'10". This is because the area under the normal curve from the left hand side up to the mean consists of half of the entire area of the normal curve. This leads us to the definitions of z-scores and standard deviations to represent how far along the normal curve a particular value is. We can calculate the likelihood of the value by finding the area under the normal curve to that point, usually by using a z-score cdf (cumulative density function) utility of a calculator or statistics software.
What is material cost variance?
The material cost variance denoting the difference between the standard cost of materials and actual cost of matrials. The material cost variance is between the standard material cost for actual production in units and actual cost. The total cost is usually determined by two differenct factors of influence viz quantity of materials utilized/ required and price of the materials. The fluctuations in the material cost are only due to the fluctuations in the utility of materials due to many factors. Material cost variance can be computed into two different ways: DIRECT METHOD AND INDIRECT METHOD material cost variance= Standard cost of materials for actual output- actual cost of raw materials. MCV=(S Q AO X SP)-(AQ X AP) Indirect Method: material cost variance= Material price variance (MPV)+Material usage Variance
Why staff is important?
Primary data collected by field staff are of little or no utility unless there is appropriate statistical office infrastructure. The responsibilities and functions of statistical office staff are: Primary data collected by field staff are of little or no utility unless there is appropriate statistical office infrastructure. The responsibilities and functions of statistical office staff are:
Why office staff is important?
Primary data collected by field staff are of little or no utility unless there is appropriate statistical office infrastructure. The responsibilities and functions of statistical office staff are: Primary data collected by field staff are of little or no utility unless there is appropriate statistical office infrastructure. The responsibilities and functions of statistical office staff are:
What is an energy management system?
energy management systems are computerized control systems implemented mostly by the utility industry, but also by large manufacturers with their own power stations.
What has the author M F Szabo written?
M. F. Szabo has written: 'Operation and maintenance of particulate control devices on coal-fired utility boilers' -- subject(s): Automatic control, Boilers 'Electrostatic precipitator malfunctions in the electric utility industry' -- subject(s): Electric power-plants, Equipment and supplies, Electrostatic precipitation
What is the difference between usability and utility?
usability is the quality of being able to provide good service. and utility is the state of being useful
What windows utility allows you to control what drivers are loaded during windows startup?
System Configuration Utility (MSCONFIG)
In 1998 this state undertook the restructuring of the electric utility industry on a statewide basis?
California
What is an uninstall utility?
Control Panel ==> Add or Remove Programs
What careers are offered by Atco?
ATCO offers careers in electric and utility industry. These careers range from logistics and actual utility workers to Human resources and payroll workers.
Was Pennsylvania the first state to undertake the restructuring of the electric utility industry on a state-wide basis?
No
What is the name for several utility programs that are found in the control panel?
applets
What electrical industry occupation classifications specializes in electric utility company power line construction?
Linesman.
