When we are dealing to process of high accuracy, then we want the deviations to be minimum. We want the process to output a certain value with high confidence value. The spread of value should be as low as possible. Otherwise it may cause havoc in the system. For example, in space system operation accuracy is required such that the value that comes as output would become quite deterministic
In such cases it is the variance that is important and looked for.
Why is it sometimes more useful to consider variance instead of a mean? Please provide a real life example.
Explain, using a real-life example, why it is necessary to consider variability around the mean or nominal dimension as a measure of quality.
why people should post their real life on social media instead of fake life?
Please provide a real world example of positive externalities and an example of negative externalities. For either case, is the government trying to address it? If so, how? Also, is the market for nicotine products efficient? (consider the assumptions of perfect information and no externalities).
Explain each of the following managerial accounting terms and provide a real life example for each accounting term: direct materials, direct labor, and manufacturing overhead (MOH). Explain why each accounting term is either classified as a product cost or period cost.
Sometimes the mean is poor indicator of a distribution's location and median is used instead. One instance of this situation is reporting salaries as a description of economic well-being: the median is usually reported instead of the mean. Why do you think this is the case? What shape do you think the distribution of salaries takes? Where do outliers occur in such a distribution?
Please use a real-life example to explore the following: When is Vega the highest –in the money, out of the money, or near the money? Why do you think this is the case?
Provide and discuss some real life example of Multivariate Calculas in around 100 words
Explain and provide a real life business example for conversion costs. Explain the importance and main purpose for conversion costs
Explain and provide a real life business example for equivalent units. Explain the importance and main purpose for equivalent units?
What is the difference between Centralized TMS and Decentralized TMS? Provide a real-life example of each.