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Why is it necessary to use statistical tools for data analysis?

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Important Questions on Use of Statistical Tools

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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
Explain the significance of Taylor's Scientific Management.
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What is the law of diminishing marginal product?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What does ‘Issue of debentures for consideration other than cash’ mean?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
Which of the following is an example of a financial objective of management?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
A company is manufacturing paper plates and bowls. It produces 1,00,000 plates and bowls each day. Due to a local festival, it got an urgent order of extra 50,000 plates and bowls. Explain the method of recruitment that the company should adopt in the given circumstances to meet the order.
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What is meant by recruitment? How is it different from selection?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
A major insurance company handled recruiting, screening, and training processes for data entry/customer service representatives. Their competitor attracted most of the qualified potential employees in the market, and recruiting was made more difficult by the strong economy and the ‘jobseeker’s market.’ This resulted in the client choosing candidates with the ‘soft’ skills needed for the job but lacking the proper ‘hard’ skills and training. As an HR manager, what problems do you identify in the company’s recruitment process?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What does a bearer debenture mean?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
Explain the relationship between the marginal products and the total product of an input.
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
State the meaning of principles of management.
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
Explain the concepts of the short run and the long run.
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What is informal communication?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
Which function of management involves developing an organizational structure and allocating human resources?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What is the law of variable proportions?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What does it mean to issue debentures at a discount and redeemable at a premium?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
Explain the concept of a production function.
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What is meant by a debenture?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What is the meaning of ‘Debentures issued as a collateral security’?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
Which management concept ensures that each employee has only one direct supervisor?
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Economics>Statistics in Economics>Use of Statistical Tools>Method of Developing a Project
What is the total product of an input?