Blog

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 →

Managers may resort to any method to exhibit control so that the activities of the subordinates and the units are consistent with the goals and standards of an organization. Here is a list of five such methods: Personal control Bureaucratic control Output control Cultural control... Read More →

GDP or gross domestic product is defined as the monetary value of all the finished goods and services which all of private and public consumption, government outlays, investments and net exports within a country’s borders and territory in a specific time. GDP is given by: GDP = C... Read More →

The “slope” of a bivariate linear regression model signifies the change that the dependent variable will undergo for a unit change in the independent variable. E.g. if we take the previous example of Carbon Monoxide emission and the Nicotine level then the regression model that... Read More →

Inheritance in Java-When one class extends the properties, variables or methods of other class than the class which extends other class is called subclass or child class and the other class is called superclass or parent class. This concept is called Inheritance in Java. Ex-... Read More →

Cost analysis is applied for the following managerial uses; Optimum output level Optimum inventory level Optimum scale To read more on cost analysis click https://homeworkkiller.com/economics-homework-help/microeconomics/cost-analysis/ Read More →

Traditional Production Systems comprise of four categories and they are job shop, batch production, assembly line and continuous flow. Here is a short description of each of the four: Job Shop: When the items are ordered individually and tend to be unique to the requirements of a... 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 →

Non Probability Sampling Technique: Non Probability Sampling Techniques are easier to conduct however the results cannot be generalized from the sample to the population. There are mainly three types of Non Probability Sampling Techniques: a.      Convenience Sa... Read More →