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DEFINITION OF AVERAGE - Quantitative Techniques for management
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Job SearchThe average of a distribution has been defined in various ways. Some of the important definitions are :
- "An average is an attempt to find one single figure to describe the whole of figures" - Clark and Sekkade
- "Average is a value which is typical or representative of a set of data" - Murray R. Spiegal
- "An average is a single value within the range of the data that is used to represent all the values in the series. Since an average is somewhere within the range of data it is sometimes called a measure of central value" - Croxton and Cowden
- "A measure of central tendency is a typical value around which other figures congregate" - Sipson and Kafka
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| Business Analyst Interview Questions | Project Management Interview Questions |
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Quantitative Techniques For Management Tutorial
- Historical Development
- About Quantitative Technique
- Methodology Of Quantitative Techniques
- Advantages Of Mathematical Modelling
- Scope Of Quantitative Technique
- Statistics : An Introduction
- Geometric Mean Summary
- DEFINITION OF AVERAGE
- Functions And Characterstics Of An Average
- Various Measures Of Average
- Arithmetic Mean
- Determination Of Median
- Other Partition Or Positional Measures
- How To Determine Mode
- Relation Between Mean, Median And Mode
- Geometric Mean
- Harmonic Mean
- Mathematical Model Summary
- Mathematical Model
- Mathematics — The Language Of Modelling
- Building A Mathematical Model
- Verifying And Refining A Model
- Variables And Parameters
- Continuous-in-time Vs. Discrete-in-time Models
- Deterministic Model Example
- Probabilistic Models
- Graphical Method Summary
- Essentials Of Linear Programming Model
- Properties Of Linear Programming Model
- Formulation Of Linear Programming
- General Linear Programming Model
- Maximization & Minimization Models
- Graphical Method
- Solving Linear Programming Graphically Using Computer
- Summary Of Graphical Method
- Unbounded Lp Problem
- Limitations Of Linear Programming
- Big M Method Summary
- Additional Variables Used In Solving Lpp
- Maximization Case
- Solving Lp Problems Using Computer With Tora
- Minimization Lp Problems
- Big M Method
- Degeneracy In Lp Problems
- Unbounded Solutions In Lpp
- Multiple Solutions In Lpp
- Duality In Lp Problems
- Duality In Linear Programming
- Sensitivity Analysis
- Mathematical Formulation
- Network Representation Of Transportation Model
- General Representation Of Transportation Model
- Use Of Linear Programming To Solve Transportation Problem
- Formulation Of Lp Model
- Solving Transportation Problem Using Computer
- Balanced Transportation Problem
- Unbalanced Transportation Problem
- Procedure To Solve Transportation Problem
- Degeneracy In Transportation Problems
- Maximization In A Transportation Problem
- Prohibited Routes Problem
- Transhipment Problem
- Mathematical Structure Of Assignment Problem
- Network Representation Of Assignment Problem
- Use Of Linear Programming To Solve Assignment Problem
- Types Of Assignment Problem
- Hungarian Method For Solving Assignment Problem
- Unbalanced Assignment Problem
- Restricted Assignment Problem
- Multiple And Unique Solutions
- Maximization Problem
- Travelling Salesman Problem
- Solving Problems On The Computer With Tora
- Solving Unbalanced Assignment Problem Using Computer
- Solving Maximization Problems Using Computers
- Pert/cpm Network Components
- Errors To Be Avoided In Constructing A Network
- Rules In Constructing A Network
- Procedure For Numbering The Events Using Fulkerson's Rule
- Critical Path Analysis
- Determination Of Float And Slack Times
- Solving Cpm Problems Using Computer
- Project Evaluation Review Technique, Pert
- Solving Pert Problems Using Computer
- Cost Analysis
- Advantages Of Network Models
- Queuing Systems
- Characteristics Of Queuing System
- Poisson And Exponential Distributions
- Symbols And Notations
- Single Server Queuing Model
- Solving The Problem Using Computer With Tora
- Classical Definition Of Probability
- Counting Techniques
- Statistical Or Empirical Definition Of Probability
- Axiomatic Or Modern Approach To Probability
- Theorems On Probability – I
- Probability Distribution
- Binomial Distribution
- Hypergeometric Distribution
- Pascal Distribution
- Geometrical Distribution
- Uniform Distribution (discrete Random Variable)
- Poisson Distribution
- Exponential Distribution
- Uniform Distribution (continuous Variable)
- Normal Distribution
- Probability Distribution Of A Random Variable
- Mean And Variance Of A Random Variable
- Theorems On Expectation
- Joint Probability Distribution
- Decision Analysis Under Certainty
- Decision-making Under Uncertainty
- Decision-making Under Risk
- Expected Value With Perfect Information (evpi)
- Use Of Subjective Probabilities In Decision-making
- Use Of Posterior Probabilities In Decision-making
- Need Of Inventory Control
- Advantages Of Material Controls
- Essential Factors Of Material Control
- Abc Analysis Technique
- Process Of Inventory Control
- Minimum Stock Level
- Maximum Stock Level
- Ordering Level Or Re-order Level
- Average Stock Level
- Danger Level
- Two-person Zero-sum Game
- Pure Strategies: Game With Saddle Point
- Mixed Strategies: Games Without Saddle Point
- Dominance Property
- Solving Problem On The Computer With Tora
- Solving Lp Model Games Graphically Using Computer
- Advantages And Disadvantages Of Simulation
- Monte Carlo Simulation
- Simulation Of Demand Forecasting Problem
- Simulation Of Queuing Problems
- Simulation Of Inventory Problems
Quantitative Techniques – Introduction
Measures Of Central Tendency
Mathematical Model
Linear Programming: Graphical Method
Linear Programming: Simplex Method
Transportation Model
Assignment Model
Network Model
Waiting Model (queuing Theory)
Probability
Theoretical Probability Distributions
Probability Distribution Of A Random Variable
Inventory Model
Game Theory
Simulation
