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Quantitative Techniques
1. Distinguish
between decision making under certainty and decision making under uncertainty.
Mention certain methods for solving decision problems under uncertainty.
Discuss how these methods can be applied to solve decision problems.
2. Distinguish
between probability and non-probability sampling. Elucidate the reasons for the
use of non-probability sampling in many situations in spite of its theoretical weaknesses.
3. What
are models? Discuss the role of models in decision-making. How can you classify
models on the basis of behavior characteristics?
4. What
are matrices? How are determinants different from matrices? Discuss few
applications of matrices in business.
Section
B
Write short notes on any ten of the following:
(a) Concept of Maxima and Minima
(b) Types of classification of data
(c) Pascal Distribution
(d) Multi-stage sampling & Multi-phase sampling
(e) Box-Jenkins Models for Time Series
(f) Determinant of a Square Matrix
(g)
Primary and Secondary Data
(h)
Bernoulli Process
(i)
The Student's t Distribution
(j)
Use of Auto-correlations in identifying Time Series
(K)
Absolute value function
(l)
Quantiles
(m)
Criteria of pessimism in decision theory
(n)
Cluster vs. Stratum
(o)
Moving average models
(p)
Step function
(q)
More than type ogive
(r)
Subjectivist's criterion in decision making
(s)
Double sampling
(t)
Auto regressive models
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