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Mastering Probability and Statistics: A Guide for MBA Students

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  In the fast-paced world of business and management, making sound decisions amidst uncertainty is critical. Whether you’re analyzing market trends, forecasting revenues, or optimizing supply chains, probability and statistics are the ultimate tools in your arsenal. In this blog, we delve into key concepts that will sharpen your analytical thinking and empower you to …

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Cost & Management Accounting Practical Problems & Solutions

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The stock in hand of material as on 1st September was 500 units at Rs. 10 per unit. The following purchases and issues were subsequently made. Prepare the Stores Ledger Account showing how the value of the issues would be recorded under FIFO method. Purchases 6th Sept. 100 units at Rs. 11 20th Sept. 700 …

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UGC Lifts Ban on NMIMS: A Landmark Decision for Education Aspirants 2024-2025

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In a significant move, the University Grants Commission (UGC) has lifted the ban imposed on Narsee Monjee Institute of Management Studies (NMIMS), allowing it to resume offering online and distance learning programs. This decision marks a turning point for both the institution and thousands of students across India and abroad who aspire to study at …

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Demand Forecasting Techniques

Demand Forecasting- Question & Answers

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What is Demand Forecasting? Demand forecasting is the process of estimating the future demand for a product or service. It involves predicting the quantity of goods or services that customers will purchase over a specific period. The primary goal of demand forecasting is to help businesses make informed decisions regarding production, inventory management, and overall …

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NMIMS Assignment

NMIMS Assignment Solution of Decision Science for the April 2024 Examination

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Q3.a)Draw an appropriate chart for the following. Also, write your clarification for choosing that graph. For each variable identify a time-series component present if you consider the long-term pattern.     Table: Production of Commercial crops. (Source: RBI) Q3.b) Write the sampling plan for the following study. Also write, what is recommended according to you, census survey …

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NMIMS Assignment

NMIMS – Decision Science Assignment of April 2024

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Calculate the probability for the following statements. Draw the Probability tree diagram also. In a medical college of Pune (a class of 100 people), 30 % people Like to have Misal-pav on the farewell party as per the google form survey. Remaining people have chosen vadapav. Out of those who have chosen Misal-pav 50 % …

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BBA & MBA Project Complete Guidance

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  What is an MBA Project? An MBA (Master of Business Administration) project refers to a comprehensive and in-depth research and analysis undertaken by a student pursuing an MBA program. It is typically a culmination of the student’s academic studies and practical application of business and management concepts. MBA projects are designed to assess the …

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Skills Inventory in HRM

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Human Resource Management (HRM) is a critical function within an organization that focuses on managing and maximizing the effectiveness of the human capital. Skills inventory is an essential component of HRM, as it plays a significant role in several aspects of managing human resources. Here are some reasons why skills inventory is important in HRM. …

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Globalization and its impact on Management

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Globalization refers to the increasing interconnectedness, integration, and interdependence of countries and economies around the world. It is a multifaceted phenomenon that encompasses economic, political, technological, social, and cultural aspects. Globalization has been facilitated by advancements in transportation, communication, and information technology, which have significantly reduced barriers to the movement of goods, services, capital, and …

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The Principles of Scientific Management

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Scientific management, also known as Taylorism, is a management approach developed by Frederick Winslow Taylor in the early 20th century. It aimed to improve efficiency and productivity in industrial settings by applying scientific methods to work processes. Taylor’s ideas had a significant impact on the field of management and laid the foundation for modern management …

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