Question

what types of management problem can be solved more easily by quantitative analysis techniques other then simulation
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Answer 1

Answer:

Problems that require quick answers cannot wait for a simulation model to be built

Explanation:

Problems with conditions of certainty can be solved more easily by other quantitative analysis techniques other than simulation.

Answer 2

Answer:

Types of management problems can be solved more easily by quantitative analysis techniques

1. Mathematical Programming

2. Cost Analysis (Break-Even Analysis)

3. Cost-Benefit Analysis

4. Linear Programming

5. Capital Budgeting

Explanation:

Mathematical Programming:

• Besides calculus, different control technology strategies may be hired to solve plenty of choice problems. One such method is Mathematical Programming that's beneficial on every occasion numerous elements constrain the selection of strategies. Consider the stock problem. If the goal is really to decrease the general fees, there aren't any constraints that restrict our preference of strategies.

Cost Analysis (Break-Even Analysis):

• Managers need to make money. The goal of the break-even evaluation is to determine the top-of-the-line break-even point, this is, wherein income may be highest. In making decisions, managers need to pay an extraordinary deal of interest to the income possibilities of opportunity publications of action. This glaringly calls for the fee implications of these options to be assessed. A critical factor of such fee evaluation is that made among constant and variable expenses.

Cost-Benefit Analysis:

• Cost-gain evaluation is a mathematical method for choice-making. It is a quantitative method used to assess the financial expenses and the social advantages related to a selected route of action. In this method, an attempt is made to perceive all expenses and advantages, now no longer simplest those who can be expressed in rupees, but additionally the much less without problems calculated results of a given choice.

Linear Programming:

• Linear programming is a quantitative method used to decide the most reliable blend of restricted sources for maximizing income or minimizing expenses. Linear programming is an extension of break-even evaluation this is very beneficial in reading complicated problems.

Capital Budgeting:

• A supervisor is based closely on linear programming whilst he allocates sources to competing tasks. Similarly, Capital budgeting affords a hard and fast of strategies a supervisor can use to assess the relative splendor of numerous tasks wherein a lump charge is made to generate a flow of income over a destiny period.

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