Business Decision Making Assiment Essay Example for Free

Business Decision Making Assiment Essay You should sign this sheet to show that you comply with these regulations. Student’s Signature Date Acknowledgement I take this chance to thank Miss. M. PriyanthimalaWho helped me to improve and developed this particular project. She explained well about the project and sacrificed her most of the time to explain and also made sure that all the students understood. She was ready to help out in any time and gave her full support for this particular project. I finally would like to thank my parents, friends and others for helping to do this project. Thank you TASKS| PAGE NO| Task 01| 04| Task 02| 09| Task 03| 14| Task 04| 16| Task 05| 24| Task 06| 27| Task 07| 31| Task 08| 32| Task 09| 34| Task 10| 35| Task 11| 38| Task 12| 43| Task 13| 44| Task 14| 47| Task 15| 49| Reference | 51| Task 1 T 1. 1 Difference between a sample and a population Population| Sample| * Population is the area in which you are trying to get information from. * This meaning of population is also used in survey research, but this is only one of many possible definitions of population. Examples: Cedar Crest students; trees in North America; automobiles with four wheels; people who consume olive oil. | * Sample is a section of your population that you are actually going to survey. It is important to have a sample that will represent your entire population in order to minimize biases. Survey research is based on sampling, which involves getting information from only some members of the population. * Samples can be drawn in several different ways, such as probability samples, quota samples, purposive samples, and volunteer samples. Examples assuming the populations stated above: 47 Cedar Crest students chosen randomly; 8463 trees randomly selected in North America; 20 sample autos from each make (e. g. , GM, Ford, Toyota, Honda, etc. ); 1% of the oil consuming population per country| T 1. 2 Describe the advantages of sampling * Sampling  saves money  as it is much cheaper to  collect  the desired information from a small  sample  than from the whole population. * Sampling  saves a lot of time and energy as the needed data are collected and processed much faster than census information. And this is a very important consideration in all types of investigations or surveys. * Sampling  provides information that is almost as accurate as that obtained from a complete census; rather a properly designed and carefully executed  sample  survey will provide more accurate results. Moreover, owing to the reduced volume of work, persons of higher caliber and properly trained can be employed to analyze the data. * Sampling  makes it possible to obtain more detailed information from each unit of the  sample  as collecting data from a few units of the population (i. e. ample) can be more complete and thorough. * Sampling  is essential to obtaining the data when the measurement process  physically  damages or destroys the  sampling  unit under  investigation. For example, in order to measure the average lifetime of  light bulbs, the measurement process destroys the  sampling  units, i. e. the bulbs, as they are used until they burn out. A manufacturer will therefore use only a  sample  of  light bulbs  for this purpose and will not burn out all the bulbs produced. Similarly, the whole pot of soup cannot be tasted to determine if it has an acceptable flavor. Sampling  may be the only means available for obtaining the needed information when the population appears to be infinite or is inaccessible such as the population of mountainous or thickly forested areas. In such cases, taking $ complete census to  collect  data would neither be  physically  possible nor practically feasible. * Sampling  has much smaller â€Å"non-response†, following up of which is much easier. The term non-response means the no availability of information from some  sampling  units included in the  sample  for any reason such as failure to locate or measure some of the units, refusals, not-at-home, etc. Sampling  is extensively used to obtain some of the census information. * The most important advantage of   sampling  is that it provides a valid measure of reliability for the  sample  estimates  and this is one of the two basic purposes of  sampling. * Reliability: If we collect the information about all the units of population, the collected information may be true. But we are never sure about it. We do not know whether the information is true or is completely false. Thus we cannot say anything with confidence about the quality of information. We say that the reliability is not possible. This is a very important advantage of sampling. The inference about the population parameters is possible only when the sample data is collected from the selected sample. * Sometimes the experiments are done on sample basis. The fertilizers, the seeds and the medicines are initially tested on samples and if found useful, then they are applied on large scale. Most of the research work is done on the samples. * Sample data is also used to check the accuracy of the census data. T 1. 3 Difference between primary data and secondary data T1. 4 Difference between a statistic and a parameter Parameter is any characteristic of the population. Statistic on the other hand is a characteristic of the sample. Statistic is used to estimate the value of the parameter. Note that the value of statistic changes from one sample to the next which leads to a study of the sampling distribution of statistic. When we draw a sample from a population, it is just one of many samples that might have been drawn and, therefore, observations made on any one sample are likely to be different from the ‘true value’ in the population (although some will be the same). Imagine we were to draw an infinite (or very large) number of samples of individuals and calculate a statistic, say the arithmetic mean, on each one of these samples and that we then plotted the mean value obtained from each sample on a histogram (a chart using bars to represent the number of times a particular value occurred). This would represent the sampling distribution of the arithmetic mean. T1. 5 Define sampling errors with example? Sampling error is an error that occurs when using samples to make inferences about the populations from which they are drawn. There are two kinds of sampling error: random error and bias. Random error is a pattern of errors that tend to cancel one another out so that the overall result still accurately reflects the true value. Every sample design will generate a certain amount of random error. Bias, on the other hand, is more serious because the pattern of errors is loaded in one direction or another and therefore do not balance each other out, producing a true distortion. These are the errors which occur due to the nature of  sampling. The  sample  selected from the population is one of all possible samples. Any value calculated from the  sample  is based on the sample  data and is called  sample  statistic. Task 2 T2. 1 Advantages and disadvantages of arithmetic mean. Advantages * Fast and easy to calculate- As the most basic measure in statistics,  arithmetic average is very easy to calculate. For a small data set, you can calculate the arithmetic mean quickly in your head or on a piece of paper. In  computer programs  like Excel, the arithmetic average is always one of the most basic and best known functions. Here you can see the  basics of arithmetic average calculation. * Easy to work with and use in further analysis- Because its calculation is straightforward and its meaning known to everybody,  arithmetic average  is also more comfortable to  use as input to further analyses and calculations. When you work in a team of more people, the others will much more likely be familiar with  arithmetic average  than  geometric average  or  mode. Disadvantages * Sensitive to extreme values- Arithmetic average is extremely sensitive to extreme values. Therefore,  arithmetic average  is not the best measure to use with data sets containing a few extreme values  or with more  dispersed (volatile) data sets  in general. Median  can be a better alternative in such cases. * Not suitable for time series type of data- Arithmetic average  is perfect for measuring central tendency when you’re working with data sets of independent values taken at one point of time. There was an example of this in one of the previous articles, when we were  year. However, in finance you often work with percentage returns over a series of multiple time periods. For  calculating average percentage return over multiple periods of time,  arithmetic average is useless; as it fails to take the different basis in every year into consideration (100% equals a different price or portfolio value at the beginning of each year). The more volatile the returns are, the more significant this weakness of arithmetic average is. Here you can see the example and reason why  arithmetic average fails when measuring average percentage returns over time. * Works only when all values are equally important- Arithmetic average treats all the individual observations equally. In finance and investing, you often need to work with unequal weights. For example, you have a portfolio of stocks and it is highly unlikely that all stocks will have the same weight and therefore the same impact on the total performance of the portfolio. Calculating the average performance of the total portfolio or a basket of stocks is a typical case when  arithmetic average is not suitable  and it is better to use weighted average instead. You can find more details and an example here:  Why you need weighted average for calculating total portfolio return. T2. 2 Comparative picture of median, mode, mean The Median The Median is the middle value in your list. When the totals of the list are odd, the median is the middle entry in the list after sorting the list into increasing order. When the totals of the list are even, the median is equal to the sum of the two middle (after sorting the list into increasing order) numbers divided by two. Thus, remember to line up your values, the middle number is the median! Be sure to remember the odd and even rule. That is, if the data is in meters, the standard deviation is in meters as well. The variance is in meters2, which is more difficult to interpret. Neither the standard deviation nor the variance is robust to outliers. A data value that is separate from the body of the data can increase the value of the statistics by an arbitrarily large amount. The mean  absolute deviation (MAD) is also sensitive to outliers. But the MAD does not move quite as much as the standard deviation or variance in response to bad data. The  interquartile range (IQR) is the difference between the 75th and 25th percentile of the data. Since only the middle 50% of the data affects this measure, it is robust to outliers. T3. 2 What are the different characteristics of the following measures of dispersion. The  range  is the simplest measure of  dispersion. The range can be thought of in two ways. 1. As a quantity: the difference between the highest and lowest scores in a distribution. 2. As an interval; the lowest and highest scores may be reported as the range. By far the most commonly used measures of dispersion in the social sciences are  variance  and  standard deviation. Variance  is the average squared difference of scores from the mean score of a distribution.

Essay --

Kristy Huynh January 7, 2014 Period 2 The Poisonwood Bible Independent Study 1. Choose a passage that contains striking imagery. Analyze the passage and explain the effect on the work as a whole. â€Å"Clearing a rain forest to plant annuals is like stripping an animal first of its fur, then its skin. The land howls. Annual crops fly on a wing and a prayer. And even if you manage to get a harvest, why, you need roads to take it out! Take one trip overland here and you'll know forever that a road in the jungle is a sweet, flat, impossible dream. The soil falls apart. The earth melts into red gashes like the mouths of whales. Fungi and vines throw a blanket over the face of the dead land. It's simple, really. Central Africa is a rowdy society of flora and fauna that have managed to balance together on a trembling geologic plate for ten million years: when you clear off part of the plate, the whole slides into ruin†¦ To be here without doing everything wrong requires a new agriculture, a new sort of planning, a new religion† (524-525). Adah acknowledges what her father has done wrong and his inability to realizes his faults. The African land that the family has set food on cannot change according to their desires and attempting to do so only damages it more. Kingsolver illustrates that many do not seem to realize the impact of going into a country and asking them to change their religion, way of developing food, or their education system. Those attempting to colonize do not see the destruction that they are doing. Africa to Adah has been born like this, and â€Å" have managed to balance together on a trembling geological plate for ten million years.† This shows that balance has already been achieved in the views of the Africans and livin... ... ridiculous to Anatole that we have fruits and vegetables that are grown somewhere else and then driven miles and miles to the supermarket. The clash of the two cultures makes me wonder if the â€Å"American† way is better. It is pretty ridiculous that people can’t grow their own food and only rely on the labor of others. Although I appreciate and enjoyed reading about a world in which I have no experience, the imagery in the book was more than enough to show me that I would not survive a day living in Africa. Kingsolver’s vivid imagery and attention to detail hooked me the first few pages. (Like how the family wanted to bring the Better Crocker cake mix). The different detail from each of the Price sisters presents Africa and allowed me to piece it together. I was also able to identify myself with each of the sisters. I see myself as Rachel, Adah, Leah, and Ruth May.

A Critical Essay

If the above quote is to be examined, it actually says the opposite of this thesis statement; that art, such as music, theater and the like are expressions of society’s creativity. Ironically, though, it also bolsters it by saying that the personal expression of the artist, although not necessarily a reflection of society’s collective creative process and experience is actually the very basis from which society itself is being drawn into, modified, classified, shaped, molded, awakened, and finally, defined.Art after all, beginning from the artist’s own personal creativity, was created due to the artists reaction to, or personal reflection of a stimulus that came from his dealings and living in his environment and society; coming full circle when society shares and identifies with the artist’s own significant human experience.History is replete with artistic expressions of a group of people’s own intrinsic expressions of individuality and affinity am ong the members of the same group or community. This is in tune with the artist’s search for a sounding board within the society, and thus, shaping and reforming his own society.Art, being larger than the life that it supposedly mirrors does not only remain confined within the artist’s personal sphere. It seeks far wider audience, even beyond the community or society. It seeks the world to find a collectivity with the universal human experience.Folk art is one among the many forms where art is being elevated as a voice of a society, a generation or a community. Here it ceases to be a mere personal expression of the artistbut becomes a societal expression of creativity and significance. Art also functions as a chronicle of the human spirit, as well as the development of society as a whole. The songs, dances, poetry, paintings and other artistic expression serve as testament to the development of society.A society’s greatness, or otherwise is reflected in the art forms and expressions that would surface during one given time. It goes without saying therefore that a study of art would reveal much of a society’s soul. It is imperative therefore that art should be studied, understood, encouraged, cultivated and empowered.The clearest and most direct way to attain this of course is to go back to the source and soul of art; the artist and his interaction with life and the world he lives in. If art is to be cultivated, then we must create an environment that would be conducive and supportive of the artist. We must awaken the sense of artistry and the zest for artistic expression in every one of us, so that we will stand as chroniclers each, of the society we live in at our given present time.Let it flourish and be a collective expression that would stand time and in the process, enrich the future with a ready reference that would mirror our present society, and in effect serve as lessons for the future generations. Such is the irony of art that Johann Wolfgang Goethe once said there is no surer method of evading the world than by following Art, and no surer method of linking oneself to it than by Art. (Goethe, 1749)Such is the paradox that is art; one that is a personal expression but then again – art (and science) belong to the whole world, and before them vanish the border of nationality, (Goethe, 1749) as a matter of fact. The famous Latin expression says everything, after all; Vita Brevis, Ars Longa. Life is short, Art is songReferencesMiller, H. (n.d.). Henry Miller. Retrieved February 22, 2009, from http://www.henrymiller.org/ Von Goethe, J. (2008). Johann Wolfgang von Goethe. Retrieved February 22, 2009, from http://www.kirjasto.sci.fi/goethe.htm

Multiculturalism A Culturally Diverse Groups - 896 Words

Multiculturalism The concept of multiculturalism is a very important concept in modern societies, which include a culturally diverse groups. Those groups have problems about the unity in the framework of diversity , and harmony in the context of respect for difference . Since the concept of citizenship provides us with a legal and cultural framework and social coexistence positive among the diverse citizens culturally , it raises the need to examine the relationship between citizenship and multiculturalism. United states and Europe are Totally difirent in their multiculturalism styles. Thirty years ago, it was considered by many Europeans that multiculturalism( society being diverse and united at the same†¦show more content†¦Citizenship in the simplest sense involving the double right that others will know you, and also your right to fight for others recognize you, therefore citizenship is composed of a set of rights and practices of collective participation which reflects the awareness of the common characteristics between communities and minorities are all within the same State, even if differed among themselves, there is a common space between all; so the change should not be done by the state or the government or the force of law, but must be for the members of the community themselves in the role of payment towards mobilizing the forces of change and the institutions of civil society pressure groups. Europe has allowed large numbers of immigrants without paying attention to the issue of the integration of the European body that number, which led to the erosion of social cohesion and undermine national identities, and declining public confidence in politicians. Pro multiculturalism, on the other hand, saying that the decline is due to the growing racism. But the truth is more complex than claimed by the parties, especially since much of what is said is outside the framework of the subject. Multiculturalism has become a peg for other social and political issues: immigration, identity, disappointment and political hope, and lower working class. Many countries have followed their own tracks to address the issue. Britain has sought to give the various minorities an equal share