Quantitative Techniques

Classification of Quantitative Techniques There are different types of quantitative proficiencys. We can classify them into ternary categories. They are 1. Mathematical Quantitative Techniques 2. Statistical Quantitative Techniques 3. Pprogramming Quantitative Techniques Mathematical Quantitative Techcniques A technique in which quantitative data are used along with the principles of mathematics is known as numeral quantitative techniques. Mathematical quantitative techniques involve 1. Permutations and Combinations Permutation mearns arrangement of objects in a definite order.The deed of arrangements depends upon the total number of objects and the number of objects taken at a time for arrangement. The number of permutations or arrangements is metrical by using the following formula= n n r Combination mearns selection or grouping objects without considering their order. The number of combinations is calculated by using the following formula= n n r 2. Set TheorySet theory is a modern mathematical device which solves various types of unfavorable problems. QuantitativeTechniquesforBusiness 5 SchoolofDistanceEducation 3. Matrix Algebra