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In any business, the quality of decisions is often related to the quality of information. For instance, effective product marketing entails combining the right offering (keeping in mind that products are bundles of attributes and different bundles, or combinations of attributes, will appeal to different prospective buyers) with the right target buyer group. Knowing what constitutes the right offering and the right prospective buyer group usually involves data analysis. In general, using data to shape or guide business decisions entails a progression along the continuum of data ? information ? knowledge.
What is the difference between data, information, and knowledge? In your opinion, when does data become information and information become knowledge? Support your answer with relevant examples. Why is meaningful and correct data analysis-statistics-important in using the volumes of available business data?
Determine strength of causal relationship between monthly sales also new home construction by using correlation.
Why is operations management relevant to managers in other organization functions? Base your discussion on your experience of operations within your organization or an organization with which you are familiar
Customers arrive at an automated coffee vending machine at a rate of 4 per minute, subsequent a Poisson distribution. Coffee machine dispenses a cup of coffee in exactly 10 seconds. Illustrate what is average number of people waiting in line.
What are the forces for global convergence in a labor system? What are the forces for a labor system to maintain divergence or establish a divergent system?
With the growth in modern communication technologies, such as email and video-conferencing, and the declining costs of international travel
Should ethical considerations be included in analyses of an organization's internal also external environments. Explain why or explain why not.
When a patient is sent to another hospital, the hospital has to put a staff with adequate skills to guarantee the patient's life, which costs the hospital $200 per patient sent
xplain from beginning to end the supplier - customer relationship both internally also externally of the organization also why it is important to understand the existence of this relation in producing the final product/service to the ultimate cust..
Illustrate what level of safety stock is appropriate if lead time demand is normally distributed with a mean of 80 cases and a standard deviation of 5 cases.
Discuss in scholarly detail the defining principles and the implementing principles of the corporate social justice approach.
Why do you think the heavy social-media users surveyed by the Ethics Resource Center were more likely than other employees to believe employ-ees are justified in making personal use of com-pany software and confidential data
Is there something unethical about using cost-benefit analysis? As a society we often perform cost-benefit analyses involving lives.
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