Quantitative Techniques Notes | Syllabus, Reference Books and Important Questions

Quantitative Techniques Notes: Quantitative techniques are a set of well-defined tools that are used in the process of decision making by any Organisation or industry. These are a set of powerful tools that help the decision-makers to solve many problems. Students can refer to the Big Data Lecture Notes For CSE as per the latest and updated syllabus from this article.

Quantitative techniques generally deal with the collection and analysis of data. Quantitative techniques are those techniques that help an Organisation in an effective decision-making process. They help the decision-making authorities by a systematic and correct analysis of data. These techniques help an Organisation to maximize its profits, minimizing cost and achieving pre-determined goals.

Quantitative techniques have a vast application in the decision-making process. These techniques help in solving a lot of problems that arise in the business or Industry. The rise in the problems in industries has led to the increased use of these techniques. The increase in the number of problems in the industries and businesses have attracted the students to study quantitative techniques in the present.

Quantitative techniques also have a lot of usage in various other fields for which its demand has increased over the past few years. These techniques are beneficial and are sometimes difficult to understand. So, In this article, we have provided some handy notes of Quantitative techniques. The Quantitative Techniques Notes are a source of error-free information that helps in overcoming the problems that a student faces in studying Quantitative techniques.

Students of Quantitative techniques can download and access the Notes of Quantitative techniques from this article and can ease the process of learning. This article provides notes that can help the students to overcome any tricky problems that are in the subject.

Introduction to Quantitative Techniques

Quantitative Techniques are a set of pre-determined and well-structured programme and techniques that help in the process of decision-making relating to a business or industry. These techniques help to gather information and analyse that information to provide data to the Organisation that helps the managers to undertake various activities in the Organisation. Quantitative techniques comprise of multiple tools that can be used by an Organisation in the decision-making process. These techniques also have applicability in various other fields for decision-making.

With the advancement of science and technology, the way of doing the business has also changed, With the rapidly changing business environment problems have become the new normal and a manager has to take all the decision as per the business environment. In this decision-making, Quantitative techniques help them a lot.

Students opting for MBA as their higher study come across Quantitative Techniques. They have to study the techniques and learn them in order to succeed in the field of management. Quantitative techniques as a subject have a very vast course, and sometimes it becomes difficult for the students to solve the problems in the books of quantitative techniques.

Quantitative Techniques Notes PDF

Quantitative technique as a subject has a lot of concepts and formulas in it. Sometimes students find these formulas difficult; it is because their fundamental is not clear. When they face difficulty in any problem, they tend to lose interest in the subject. They even score fewer marks and find it challenging to study. The subject of Quantitative techniques needs a proper understanding, and the students should have their fundamentals clear in order to score good marks. The only way to become fundamentally clear in the subject of quantitative techniques to refer to various notes that we have provided in this article.

The Quantitative techniques note PDF aims at explaining each and every topic of the subject in a detailed manner to the students. The PDFs are solely made to make the learning procedure easy for the students. The PDFs are prepared as per the syllabus of the subject. These notes contain certain important and probable questions for the examinations. By the help of these notes, the students can easily get the solutions to various questions and can secure good marks in examinations.

Quantitative Technique notes provide solutions to the different problems of quantitative techniques. These notes guarantee error-free materials as these are prepared by some expert teachers. The notes of quantitative techniques prepare the students for the examinations as it provides a lot of solved questions in the examination pattern. When a student practices these questions, he/she secures good marks in exams.

Here are a few essential Notes of Quantitative Techniques:

  • Quantitative Techniques Notes PDF
  • Quantitative Techniques Question with Answer PDF
  • Quantitative Techniques Handwritten Notes PDF
  • Quantitative Techniques PPT
  • Quantitative Techniques Semester Notes PDF

Quantitative Techniques Reference Books

Books are known to be the best source of knowledge. A book can always be helpful for a student in acquiring the knowledge one requires. In every student’s life, books play a significant role. There are different books for different subjects. Similarly, For quantitative techniques, several books are written by various authors.

As quantitative techniques is a very vast course, so a student requires to refer to different books in order to study the various concepts of quantitative techniques. As different books come with different types of questions, it will help the students to practice multiple types of questions, and it will help them to become exam ready. By studying the books of quantitative techniques, a student can gain self-confidence over the subject and will be prepared to face different types of questions.

So, here we have mentioned some important book of Quantitative techniques that are written by different authors:

  • A Textbook of Quantitative Techniques written by N.P. Bali, P.N. Gupta, and C.P. Gandhi
  • Quantitative Techniques In Management written by N.D. Vohra
  • Quantitative Techniques: Theory and Problems written by P.C. Tulsian and Vishal Pandey
  • Quantitative Techniques (New Format) written by C.R. Kothari
  • Quantitative techniques in Management written by J.K. Sharma
  • Quantitative Techniques for Managerial Decisions written by R.B. Khanna
  • Quantitative Techniques is written by M. Verma
  • Quantitative Techniques for Management written by S. Jaisankar
  • Quantitative Techniques For Decision Making written by Anand Sharma

Quantitative Techniques Curriculum

Each and every subject has got a curriculum or syllabus that has to be followed by the students. This syllabus or curriculum is prepared by the school board or university board in order to keep control over what a student studies. Similarly, Quantitative technique also has a syllabus that every student has to follow to study the subject and secure good marks in the examination. This syllabus also helps to reduce the burden of the course. The Quantitative Techniques syllabus is as follows:

UNIT 1: INTRODUCTION TO STATISTICS
  • Introduction to Statistics,
  • Origin and growth of statistics;
  • Application of Statistics in Management and Business,
  • Limitation of Statistics.
UNIT 2: COLLECTION, CLASSIFICATION AND PRESENTATION OF DATA
  • Introduction, 
  • Data Collection, 
  • Classification of Primary and Secondary Data, 
  • Frequency Distribution and Their Analysis
UNIT 3: MEASURE OF CENTRAL TENDENCY AND DISPERSION
  • Introduction
  • The measure of Central Tendency
  • The Measure of Dispersion
  • Objectives of measuring Dispersion
  • Relative Measures of Dispersion
  • Lorenz Curve
  • Skewness 
  • Kurtosis
UNIT 4: CORRELATION AND REGRESSION ANALYSIS
  • Meaning and Uses
  • Simple, Partial and Multiple Correlation
  • Various Methods of Calculation of Coefficients and Implications
  • Regression Analysis
  • Business Application of Correlation and Regression
UNIT 5: TIME SERIES ANALYSIS
  • Introduction
  • Meaning of Time Series
  • Applications of Time Series
  • Variations of Time Series
  • Measurement of Seasonal Variations
UNIT 6: INDEX NUMBERS
  • Introduction
  • Meaning of Index Numbers
  • Types of Index Numbers
  • Uses of Index Numbers
  • Methods of Constructing Index Numbers
  • Limitations of Index Numbers
UNIT 7: SAMPLING TECHNIQUES
  • Introduction to Sampling Techniques
  • Need for Sampling
  • The efficiency of Sampling Methods
  • Alternative Sampling Methods
UNIT 8: STATISTICAL QUALITY CONTROL
  • Introduction
  • Statistical Process Control Method
  • Control Charts
  • Advantages of Statistical Quality Control

Quantitative Techniques Important Questions

Every student should know the types and pattern of the questions that come in the examinations. Practising the probable questions helps the students to secure good marks in the examinations. So this article provides the students with some essential questions that have possibilities to come in the examinations.

Some Important questions of Quantitative Techniques are:

  • What do you mean by Quantitative techniques?
  • What are the Functions and Applications of Quantitative Techniques?
  • Briefly Discuss the Limitations of Quantitative Techniques.
  • Define Correlation
  • What is Regression Analysis?
  • What is the difference between Correlation and Regression?
  • What do you mean by Time Series? What is its importance?
  • Explain the Variation of Time Series briefly.
  • What are the Methods of calculating seasonal variations?
  • What do you understand by Business Forecasting?
  • What do you mean by Index Numbers?
  • What are the uses of Index Numbers?
  • What are the Types of Index Numbers?
  • What are the Methods of Constructing Index Numbers?
  • Mention the limitations of Index Numbers.
  • What do you mean by Sampling Techniques?
  • What is the need for Sampling?
  • What do you mean by dispersion?
  • What is Standard Deviation?
  • State and explain the Measures of Central Tendency.

Frequently Asked Questions on Quantitative Techniques Notes

Question 1.
State the Applications of Quantitative Techniques in Business.

Answer:
Quantitative Techniques have extensive usage in the field of business and industry; some of the uses of quantitative techniques are mentioned below:

  • It provides a tool for Scientific Analysis: These techniques help the managers in acknowledging a problem more analytically. They help in the proper analysis of data and provide significant results.
  • Provides Solution for various problems arising in business: These techniques tend to solve various managerial problems arising in a business. They provide data that can be used in the decision-making process.
  • Helps in reducing cost: These techniques help in the reduction of cost by providing correct data analysis. They suggest the managers to take right decisions and reduce wastage and cost.

Question 2.
State The Difference Between Correlation and Regression?

Answer:
Following are the difference between correlation and regression.

  • Correlation coefficient are symmetrical functions whereas Regression coefficient are non-symmetrical functions
  • Correlation coefficients serve as a relative measure of a relationship, whereas Regression coefficients are an absolute measure of relationships.
  • The Regression coefficient is independent of the change of origin but is dependent on the change of scale, whereas the Correlation coefficient is independent of both changes of scale and origin.
  • Correlation coefficient lies between -1 and +1, but Regression coefficient is always greater than +1.
  • In Correlation, if the value of one variable is known, then the value of another variable cannot be identified, whereas in regression if one variable is known the Value of another variable can be calculated.

Question 3.
What do you mean by Standard Deviation?

Answer:
Standard Deviation refers to the measure of the amount of dispersion of a set of values. Standard Deviation is abbreviated as SD and is represented by the symbol Sigma (σ). Generally, a lower standard deviation indicates that the set of values are closer to the mean, while a higher standard deviation shows that the values are spread over a wide range.  The formula for calculating standard deviation is mention below:

σ = ∑ (x – μ) /N

Question 4.
What is Time series?

Answer:
Time series refers to a series of data collected at regular intervals of time. Time series analysis is used to check the variations in the collected data. Time series can be helpful in checking the variations a given asset, security or economic variables show over a period of time. It comprises of various methods for analyzing time-series data and give meaningful report and characteristics of the given data.

Conclusion

Quantitative Technique notes are the key to success for every student. These notes are prepared by some expert teachers and guarantee error-free content. The Notes aims to clear the doubts of the students and makes the learning process very easy. The notes contain certain important questions which will help the students to become exam ready. These notes are very simple to understand and allows the students to secure good marks.

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