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Global Research and Development Growth Report: A Few Statistics A country’s competitiveness can be deciphered from its spending on research and development which is expressed as a percentage of GDP (Gross Domestic Product).  However the recent downturns between 2006 and 2011 have... Read More →

Functional Block Diagram- Functional Block Diagram describes the functions and relationships of a system these are described using the blocks. Input and output elements are described using blocks and relationships between them using arrow signs.   Flow Chart- This is a... Read More →

Earth Science is an all-embracing extremity for the sciences related to the satellite Earth. It is arguably a special suit in planetary science, the Earth being the only known darling-relation planet. There are both reductionist and holistic approximate to Earth sciences. The... Read More →

Oceanography (complicate of the Greek talk ωκεανός import “ocean” and γράφω meaning “to write”), also assumed as oceanology and marine science, is the branch of Earth science that studies the ocean. It covers a wide range of topics, contain marine organisms and ecosystem... Read More →

Nominal Scale: Nominal scale simply places some data into categories. They neither have any structure nor any order. The most likely statistic that is used with nominal scale is mode. Ordinal Scale: Ordinal Scale deals with ranking of a variable but their differences from each... Read More →

Scatter Plot: A Scatter Plot shows the scores of one variable that is plotted against the scores of another variable. From the plotting a relationship can be determined. E.g. a data of 50 students between the age group of 13 and 19 are taken. Their heights are plotted against... Read More →

In Greek, “makro” means large. Macroeconomics is the application of economics theory in the larger spectrum of economy. The field of economics whose area of study is the behaviour of aggregate economy is known as macroeconomics. Some of the economy – wide phenomena which are the... Read More →

The focus of macroeconomics is in the study of movements and trends in the economy as whole. Macroeconomics comprises a broad field of study. However on the basis of the area of study macroeconomics can be seen as a broad field of study which has two research areas: The attempt... Read More →

EOQ model of Inventory Management: EOQ or Economic Order Quantity model helps a manager to determine the quantity of inventory that should be held. The expression for EOQ model is given by:   Where: D = Annual Demand K = Annual Ordering Costs h = Inventory Holding Costs    ... Read More →

Control is a process that is used by the managers to regulate the activities of the subordinates and the units so that they are in sync with the objectives and standards of an organization. Control system comprises of elements which facilitate the review of the control process... Read More →