Memo

Quantitative Statistics

Northcentral University

Memo To: Whom It May Concern

Memo From: Michael Black

Date: 9 June 13

Quantitative Techniques

A person managing a production unit, where it is a farm, factory, or domestic kitchen, has to coordinate men, machines, and money against several constraints like that of time, cost and space, in order to achieve the organizations objectives in an efficient and effective manner. As the manager I have to analyze the situation on a continuous basis, determine the objectives, identify the best options from the set of available alternatives, implement, coordinate, evaluate and control the situation continuously to achieve these objectives

Quantitative techniques are those statistical and programming techniques, which help decision makers solve many problems, especially those concerning business and industry. Quantitative techniques are those techniques that provide the decision makers with systematic and powerful means of analysis, based on quantitative data, for achieving predetermined goals (Coleman pg.669)

These techniques involve the use of numbers symbols, mathematical expressions, other elements of quantities, and serve as supplements to the judgment and intuitions of the decision makers

Statistical Techniques are used in conducting the statistical inquiry concerning a certain phenomenon they includes all the statistical methods beginning from the collection of data till the task of interpretation of the collected data.

   Programming Techniques are used by many decision makers these days. This approach can help ABC Kitchens by giving us the ability to conduct thorough linear programming, simulation, and network analysis.

      Role of Quantitative Techniques in ABC Complete Kitchens Inc.

Quantitative techniques operational research techniques have gained increasing importance since World War II in the technology of business administration. These techniques greatly help in tackling the intricate and...