StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Applying Management to Science - Math Problem Example

Cite this document
Summary
The paper “Applying Management to Science” is a worthy variant of the math problem on mathematics. Based on the charges levied by common carrier tracks for the transportation of each motor from the three different harbors to the four assembling plants, a decision is made on how many motors from which harbor are taken to which assembling plan while incurring the least cost…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.5% of users find it useful

Extract of sample "Applying Management to Science"

Name Tutor Course Date Applying Management to Science Analysis for Question1 a) Based on the charges levied by common carrier tracks for the transportation of the each motor from the three different harbours to the four assembling plants, a decision is made on how many motors from which harbour are taken to which assembling plan while incurring the least cost. From the table 1.3 given in the question showing the costs of transportation, the following is deduced from which a decision of how many motors are to be sent from each harbor to each plant is made: i. The cheapest way to transport a motor to Leipzig is when it comes from Antwerp harbour (£ 61) therefore maximum number of motors t Leipzig should come from here. (400 motors) ii. The cheapest way to transport a motor to Nancy is when it comes from Antwerp (£ 40) followed by Le Havre (£ 90) therefore 300 motors and 600 motors are taken to Nancy from Antwerp and Le Havre harbours respectively. iii. The cheapest way t transport a motor to Liege is when it comes from Amsterdam (£ 41) so all the 200 required motors at Liege are taken from here. iv. The cheapest way to transport a motor to Tilburg is when it comes from Le Havre (£ 42) followed by Amsterdam (£ 59. 50) therefore 200 motors and 300 motors respectively transported to Tilburg. This information is then arranged in a spreadsheet model that solves it to give the cheapest cost of transportation and distribution of motors from the harbours to assembly plants is shown. (See 358311 Spread Solutions for Question 1.xls). b) As indicated above in the deductions made from the table of costs of transportation, it is a representation of the cheapest possible combination that can be set from the conditions given. It is observable that transportation of these motors from Antwerp harbor to the four plants is the cheapest and therefore the recommendation would be to increase the number of motors at Antwerp from where they are to be collected to the plants to minimize cost. This will meet management’s requirement for a distribution plan while at the same time being the most economic arrangement involving distribution of the motors. Report for Question 1 Given that the Auto Power Company wants to distribute these motors to the plants indicated so that relevant companies in need of this service (or cannot stand power interruptions), it must do so in a way that minimizes any possible risks while maximizing returns. From the information given, the only overt thing of these two that can be determined and adequately controlled to realize the management’s goal of minimized cost and efficient and timely distribution of the motors to their destinations is the decision of how many motors from which habours are to be taken to which plant. This is realized in the spreadsheet model that is designed (and herein attached) to handle this problem. Minimization of costs and maximization of benefits is the one goal to be sought after in the hope of realizing comparative advantage in the market. Question three analysis and results This time series that relates to the sales of this company is analyzed and discussed below. Identification, estimation and forecasting based on autoregressive order one is obtained from this time series following the general formula: X(t +1) = F0 + F1X(t) + et, where et is a White-Noise series, then Stationary Condition: | F1| < 1, is expressed as a null hypothesis H0 and being tested herein. For complete analysis and description of this time series, further tests are performed by computation of statistics and checking for both stationary in mean and variance as well testing seasonality (Gershenfeld 78). These findings are given in the tables and graph shown below1: Table 3.1 table showing the time-series entries entered for calculation Top of Form t 1 2 3 4 X(t) t 15 16 17 18 X(t) t 29 30 31 32 X(t) t 43 44 45 46 X(t) t 57 58 59 60 X(t)   Table 3.2 table showing results from the calculation Mean X(t) 80.7631579 Variance X(t) 80.8978532 Auto relation 0.5270426 Its Standard error 0.2003089 Parameter F1 0.5254951 Its Standard error 0.205511 Parameter F0 38.1909341 Its Standard error 16.6952101 H0: Stationary Condition ‌‌F1‹ 1 Little or no evidences against stationary condition Table 3.3 Table showing Diagnostic results for analysis White Noise Analysis and Diagnostic Mean 0 Variance 64.917333 Mean: The First half -1.3426414 Mean: The second half 1.2083772 Variance: The First-half 60.5670286 Variance: The second half 81.0999415 First order serial-correlation 0.1901538 Second order serial-correlation -0.5102268 First partial serial-correlation 0.1901538 Second partial serial-correlation -0.5668828282427032 Durbin-Watson statistic 1.49112 Mean absolute noise 6.50349 Normality Condition Evidence against normality 1st White Noise i). -12.5489 ii). -4.5184 iii). 5.5492 iv). 8874 v). 9.8714 vi). -1.8155 vii). 5.7649 viii). 6.2982 1st Step Ahead Forecast 1). 80.8874 2). 80.6969 3). 80.5967 4). 80.5441 One method of Detrending a time series is by calculation. A sample of how this is done is shown below: Given a bounded time series xt, , integration first converts this into an unbounded process Xt: Next, Xt is divide into time windows of length L samples, and a local least squares straight line fit (the local trend) is calculated by minimising the squared error E2 with respect to the slope and intercept parameters a,b: Then, the root-mean-square deviation from the trend, the fluctuation, is calculated over every window at every time scale: This finalizes the detrending of the time series by calculation2. The forecast for the next four quarters; Q1, Q2, Q3, and Q4 of 2009 are calculated to be as indicated in table 3.3 above as: Q1 Q@ Q3 Q4 Year 2009 80.8874 80.6969 80.5967 80.5441 Conclusion The method used for the analysis of this time series is simplified by the use of the named software designed to do the calculations with high accuracy and effectiveness. Owed to this I have no reservations for the appropriateness of the forecasting method used. Work Cited Gershenfeld, N. The Nature of Mathematical Modeling. Cambridge: Cambridge Univ. Press, 2000. Bottom of Form Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Applying Management to Science Math Problem Example | Topics and Well Written Essays - 1000 words, n.d.)
Applying Management to Science Math Problem Example | Topics and Well Written Essays - 1000 words. https://studentshare.org/mathematics/2032756-applying-management-science
(Applying Management to Science Math Problem Example | Topics and Well Written Essays - 1000 Words)
Applying Management to Science Math Problem Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/mathematics/2032756-applying-management-science.
“Applying Management to Science Math Problem Example | Topics and Well Written Essays - 1000 Words”. https://studentshare.org/mathematics/2032756-applying-management-science.
  • Cited: 0 times

CHECK THESE SAMPLES OF Applying Management to Science

Applying Markowitz Portfolio Model in Management Science

… The paper “Applying  Markowitz Portfolio Model in Management science” is an informative variant of the math problem on finance & accounting.... The paper “Applying  Markowitz Portfolio Model in Management science” is an informative variant of the math problem on finance & accounting....
8 Pages (2000 words) Math Problem

Appropriateness of Applying Scientific Management

The most outstanding project, which blended science to the aspect of time control process in management, was realized by Walker and Kelley who developed the (CPM) Critical Path Method for a company, known as E.... … The paper 'Appropriateness of Applying Scientific management " is a good example of management coursework.... nbsp;management can be defined as all those things which are done in the pursuit of attaining the organization's goals; it is also about the efficiency and effectiveness of organizations....
6 Pages (1500 words) Coursework

Knowledge Management Systems

(2005) “Can organizational knowledge capabilities affect knowledge sharing behavior”, Journal of Information science, Vol.... (2002) “Knowledge networks: Explaining effective Knowledge Sharing in Multiunit companies”, Organization science, Vol.... … The paper "Knowledge management Systems" is a perfect example of management annotated bibliography.... nbsp;Knowledge management refers to the process by which information in an organization is generated, evaluated, shared and eventually implemented in the running of the organization....
7 Pages (1750 words) Annotated Bibliography

Brand Performance: Corn Flakes

… The paper “Market Penetration, and Market Share for Cornflakes Brand, Brand Performance, Average Purchase Frequency, Share of Category Requirements" is an exciting example of an assignment on marketing.... Every business must make sure that it occasionally provides an analysis of its product and the market so that they can ensure that they are always ahead of the game....
7 Pages (1750 words) Assignment

Management as a Science or Art

… The paper "Management as a science or Art" is an outstanding example of management coursework.... The paper "Management as a science or Art" is an outstanding example of management coursework.... The study of management is termed to be a methodical body of knowledge and therefore viewed as the oldest of the art and youngest of the science (Berden, 2005).... Management as a science For any branch of knowledge to be described as a science, it must fulfill the following features; (a) must have a methodological body of knowledge with own principles which need to be independent, (b) the principles must be evolved on the basis of continuous inquest and research, (c) the principles should explain a phenomenon by ascertaining a cause-effect relations, and (d) the principles must be accessible for authentication to be universally up to standard (Bateman & Snell, 2009)....
5 Pages (1250 words) Coursework

Is Management an Art, a Science or Neither

… The paper "Is Management an Art, a science or Neither" is a great example of a management essay.... On the other hand, science can be defined as a systematic body of knowledge with reference to a certain field of study, which involves the general facts that expound a phenomenon.... The paper "Is Management an Art, a science or Neither" is a great example of a management essay.... On the other hand, science can be defined as a systematic body of knowledge with reference to a certain field of study, which involves the general facts that expound a phenomenon....
8 Pages (2000 words) Essay

Is Management an Art, a Science or Neither

Managers must display their knowledge and skills, experience and personality for management to be done effectively.... … The paper "Is Management an Art, a science or Neither" is a great example of a management essay.... The paper "Is Management an Art, a science or Neither" is a great example of a management essay.... The skills and knowledge from the science part need to be put into place through the application which forms the art part of management....
8 Pages (2000 words) Essay

Applying Emotional Intelligence in the Workplace

… The paper 'Applying Emotional Intelligence in the Workplace' is a great example of a management Case Study.... nbsp; The paper 'Applying Emotional Intelligence in the Workplace' is a great example of a management Case Study.... They include self-awareness, self-management, social awareness, and relationship management.... Self-management refers to an individual's capacity to control impulsive behaviors and feelings as well as the ability to manage emotions in a positive way....
7 Pages (1750 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us