Quantitative Methods Homework Help

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Applications of quantitative analysis in business

Quantitative analysis helps businesses make estimates before making decisions. It is particularly helpful in guiding business owners reduce risks when making decisions that can affect their operations. It can be used in:

  1. Production planning: Quantitative analysis helps business people make good and informed decisions in product planning. Through quantitative analysis, business owners can assess the costs, business location and even production timing.
  2. Project management: Quantitative analysis is highly used in project management. It helps businesses find the best ways of distributing resources, especially when resources are scarce.
  3. Purchase and Inventory: Predicting the demand for a product or service is a huge challenge for most businesses. However, through quantitative analysis, businesses can analyze what they need to buy at a particular time. The analysis includes all costs, such as transportation and storage costs.
  4. Finance: The finance department also rely on quantitative analysis to estimate the value of an investment. One popular model that uses quantitative analysis is the discounted cash flow model.
  5. Marketing: In marketing, quantitative analysis is used in setting marketing budgets and allocating purchases.

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Differences Between qualitative and Quantitative Methods

Qualitative research methodsQuantitative research methods
Qualitative research focuses on expiring ideas and formulating a hypothesis.Quantitative research focuses on testing theories and hypothesis.
It is majorly expressed in wordsIt is majorly expressed in tables, graphs and numbers.
Open-ended questions method is usedCarried out in closed questions format
In qualitative research methods, data collection is done through: Focus groupsInterviewsLiterature reviewEthnographyIn quantitative research methods, data collection is done through: ExperimentsSurveysobservations
In qualitative analysis, there are no statistical testsIn quantitative analysis, statistical tests are used for analysis
Less time is used in planning and more time in analysisMore time is used in planning and less time in analysis

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Quantitative methods psychology is the method used to measure human behavior and other attributes in human life. It involves studying the mathematical and statistical modelling of statistical psychological processes and the analysis of the psychological data. Suppose your quantitative methods homework is challenging or you are having several tasks simultaneously and therefore finding it hard to complete all of them at the same time. In that case, you need quantitative methods psychology homework help. We offer first class solutions in quantitative methods psychology to students guaranteeing them better grades. We are aware that students face huge problems in writing quantitative methods psychology homework because of reasons such as:

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