Functions and graphing functions Basics: A function is a rule that changes input into output A relation is any set of ordered pairs A function is defined as a set of ordered pairs in which no two ordered pairs have the same element A function must give exactly one unique output for each input Also called a mapping or simply a map The set of input numbers is called the domain The set of output numbers is called the range The set of all possible outputs is called the co-domain The range is generally
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What is Operations Research? Operations Research is an advanced use of analytical technique which is beneficial for decision making. It encompasses a wide range of problem solving techniques in the aim of good decision making. People holding skills in OR (operations research) hold positions in decision making and business analytic and marketing analysis. Operations research is also referred as Management science or Industrial Engineering. With today’s times and changing client demands OR is the
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INTRODUCTION Whenever two objects with different initial temperatures are put in contact with each other‚ the warmer one will cool down‚ and the cooler one will warm up‚ until they reach the same temperature. We now know that this has to do with the motions of molecules: what we sense as temperature is related to the average kinetic energy of the molecules of each material: the faster they’re vibrating around‚ the hotter the object feels. We can sidestep this molecular picture by dealing with
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Specific gravity What is specific gravity? Archimedes discovered that the weight of body in air minus its weight in water is equivalent to the weight of the water displaced by the body. Specific gravity is defined as "The weight of a body compared with the weight of an equal amount of pure water at 4°C (4°C is the temperature at which water is densest). When a body is placed in water‚ the volume of water displaced is equal to the volume of the body. When the body is placed in water that it
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$ 268‚000 | $ 810‚913 | $ 1‚226‚363 | Closing Cash | $ 810‚913 | $ 1‚226‚363 | $ 1‚994‚563 | “Management of any business will be ineffective without the preparation and use of budgets.” I agree with this statement to a certain extent. Firstly‚ a budget is an organisation’s forecasted plan for the upcoming period or future years that will be expressed in monetary terms. It includes planned revenues
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1. Micro Environmental The microenvironment consists of five components. The first is the organization’s internal environment—its several departments and management levels—as it affects marketing management’s decision making. The second component includes the marketing channel firms that cooperate to create value: the suppliers and marketing intermediaries (middlemen‚ physical distribution firms‚ marketing-service agencies‚ financial intermediaries). The third component consists of the five types
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markets (e.g. coffee industry). Areas microeconomics covers: Supply and demand Competition Monopolies Profit and loss Opportunity cost Elasticity • Rigid laws:- Businesses may be doomed to be non starters due to restrictive business environment which may take the form of rigid government laws ( no polluting industry can ever be located in around 50 Km radius of the Taj) ‚ state of competition ( Car manufacturing capacity presently in the country is far in excess of demand) etc
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Life-time examples: 1. In the Deliotte report‚ it is said 44% of respondents list business intelligence systems as enablers or disruptors that may threaten their business model‚ which makes it second most concerning technology threat. 2. One example of how business intelligence systems have been maximised is at women’s underwear manufacturer Maidenform. Their CIO Bob Russo said recently after implementing BI‚ “Providing targeted information at the right place and time is central to improving the
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SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes: 1. Gross domestic product measures two things at once: (1) the total income of everyone in the economy and (2) the total expenditure on the economy’s output of final goods and services. It can measure both of these things at once because all expenditure in the economy ends up as someone’s income. 2. The production of a pound of caviar contributes more to GDP than the production of a pound of hamburger because the contribution to GDP
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1.0 MACRO ENVIRONMENT ELEMENTS There are many factors in the macro-environment that will effect the decisions of the managers of any organization. Tax changes‚ new laws‚ trade barriers‚ demographic change and government policy changes are all examples of macro change. 1.1 Political and Legislation Factors The political-legal dimension of the general environment also affects business activity. The philosophy of the political parties in power influences business practices. The legal environment
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