Explain the importance of sampling from a managerial perspective. Provide examples.© BrainMass Inc. brainmass.com October 25, 2018, 6:23 am ad1c9bdddf
Explain the importance of sampling from a managerial perspective. Provide examples.
Sampling is important to management because it is a cost effective way to learn about a large population of data. Sampling, done correctly, permits you to make inferences about a population from a few data points that will be representative of the full population. So, you can look at 90 or so transactions and know something about the full 5,000 transactions. This saves management from having ...
Your tutorial explains three classic ways that sampling is important to management. 320 words.
Decision making and Balance Scorecard
Question 1 -- Managerial Decisions
Websites of budget airlines frequently offer special fares and flights to selected destinations. A decision to run a brief "fare special" is an example of a managerial decision. Check for recent examples of fare specials, and discuss the type of costs and revenue information that would go into making this type of managerial decision.
Question 2: Implementing the Balance Scorecard
Khairil, the Managing Director of Modern Services, is thinking about implementing the balance scorecard. As a newly appointed manager at Modern Services, you have been asked to initiate and lead the implementation of the balance scorecard in your company. You are required to prepare a comprehensive report for the Managing Director that highlights the following:
a. Detailed documents of the elements of the balance scorecard.
b. The purpose of each balance scorecard element.
c. The description on how the balance scorecard elements are related to the organisation's
d. An evaluation of the balance scorecard by indicating whether the choice of balanced scorecard measures is complete and consistent with the organization's plan and stakeholder set.View Full Posting Details