Presentation
on topic
Quantitative Techniques
Introduction:
Quantitative techniques are those statistical and
programming techniques, which help decision makers
solve many problems, especially those concerning
business and industry.
Role of quantitative Techniques:
Quantitative techniques help in solving complex and
intricate problems of business and industry. These
techniques helps in decision making with systematic
and powerful analysis, based on quantitative data, for
achieving predetermined goals.
Classification of Quantitative Techniques:
1. Mathematical Quantitative Techniques
2. Statistical Quantitative Techniques
3. Programming Quantitative Techniques
Mathematical Quantitative Techniques:
A technique in which quantitative data are used along with the
principles of mathematics is known as mathematical
quantitative techniques.
Mathematical quantitative techniques involve:
Permutations and Combinations, Set Theory, Matrix Algebra,
Determinants, Differentiation, Integration, Differential
Equation.
Statistical Quantitative Techniques:
Statistical techniques are those techniques which are used in
conducting the statistical enquiry concerning to certain
Phenomenon. They include all the statistical methods
beginning from the collection of data till interpretation of those
collected data.
Statistical techniques involve:
1. Collection of data,
2. Measures of Central Tendency, Dispersion, Skewness and
Kurtosis,
3.Correlation and Regression Analysis:It can be written as a
fraction, decimal, percent, or ratio,
4. Index Numbers
5. Time series Analysis
6. Interpolation and Extrapolation
7. Statistical Quality Control, etc.
Programming Techniques:
Programming techniques are also called operations research
techniques. Programming techniques are model building
techniques used by decision makers in modern times.
Programming techniques involve:
Linear Programming, Queuing Theory, Game Theory, Decision
Theory, Inventory Theory, Network programming, Simulation
etc.
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