Sunday, September 29, 2019
Quantitative Techniques
Classification of Quantitative Techniques: There are different types of quantitative techniques. We can classify them into three categories. They are: 1. Mathematical Quantitative Techniques 2. Statistical Quantitative Techniques 3. Pprogramming Quantitative Techniques Mathematical Quantitative Techcniques: A technique in which quantitative data are used along with the principles of mathematics is known as mathematical quantitative techniques. Mathematical quantitative techniques involve: 1. Permutations and Combinations: Permutation mearns arrangement of objects in a definite order.The number of arrangements depends upon the total number of objects and the number of objects taken at a time for arrangement. The number of permutations or arrangements is calculated by using the following formula:=   n! n r ! Combination mearns selection or grouping objects without considering their order. The number of combinations is calculated by using the following formula:=   n! n r ! 2. Set Theory:Set theory is a modern mathematical device which solves various types of critical problems. Quantitative Techniques for Business   5 School of Distance Education 3. Matrix Algebra:
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.