TSTA 101 Quantitative Methods For Accounting :
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TSTA 101 Quantitative Methods For Accounting & Finance
Business Problem
There are various kinds of problems which are needed to be tackled based on the pricing strategy of the market. Some are:
- Market Growth Growth
- Distinctness Erosion
- Cost significance
- Skimming and post-skimming strategy
- Decline pricing of product
Similarly, based on gender, the following problems can be faced for the business problem:
- No legal protections
- Segregation of job
- Difficulty in access to education
- Lack of employment equality
Based on the country, the corporation may face the following problems in their business:
- Barriers to language
- Differences in cultural
- Managing the global teams
- Dealing with inflation rates and international currency exchange
- Nuances of policy, relations, and foreign politics
Based on cost, some business prssssss are:
- Rarely static price on production cost
- Similar Prttttt Comparison
- Lack of an integrated channel group
- No strategic pricing but only tactical
Statistical Problem
There are various ways by which a corporation would tackle the problem and mainly in its analysis portion. An analysis is one of the key elements of any business to determine its growth or concentration, in other words, profit or loss. Some of the statistical problems to be tackled during the business analysis:
- Pie Chart
It is a circular representation of the numerical portion of nominal data or displaying the significant values of a given variable. It accounts for the percentage distribution of data. Each segments in the circle represents a particular category of data set.
- Cross-Clarification table of frequency
A cross-tabulation describes two or more variables simultaneously while a frequency distribution only describes one variable at a time. Tables reflecting the combined distribution of two or more variables with a constrained number of categories or different values are produced by cross-tabulation.
- Vertical bar chart of frequency and gender
Comparing the frequency of one category or characteristic with that of another category or characteristic is done using a bar graph. The height or length of the bar, depending on whether it is vertical or horizontal, displays the frequency for each category or feature.
- Central Tendency of Data
A summary measure called a measure of central tendency, also known as a measure of center or a measure of central placement aims to characterize the entirety of a set of data with a single number that corresponds to the middle or center of its distribution. The mean, median, mode, and midrange are the four indicators of central tendency. The arithmetic mean of the maximum and minimum values in a data set is used here to describe the midpoint or mid-extreme of a set of statistical data values.
- Box and Whisker Plot
A box and whisker plot is a visual representation of variance in a set of data. The majority of the time, a histogram analysis gives an adequate display, but a box and whisker plot can add more detail while enabling the display of various sets of data on the same graph.
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