This website uses cookies to ensure you have the best experience. Learn more

Small Business Management Essay

1137 words - 5 pages

Variables1, in statistics, are any characteristic that varies with the members of the population. For example, Dr. Blackbeard’s Stat 101 class had a test and the results are in and not all had an equal score. Some score higher than others, and some scored lower. Thus, the test scores are considered a variable which in this case is a whole number between 0-25. Another variable is the amount of time the students took to study for the test. In this case, the variable varies between a second, minute, hour, or maybe even a tenth of a second. So, variables can differ depending on the situation or the information which is given. Now two types of numerical variables2 are discrete and continuous. ...view middle of the document...

It can be either vertically or horizontally. But be careful when you read a bar graph; they can be very misleading.
Another useful graph is a pie chart6; it’s mostly used when the number of categories is small. In a pie chart, the “pie” represents the entire population (100%), and the “slices” represent the categories7, with the size (angle) of each slice being proportional to the relative frequency of the corresponding category. Some relative frequencies, such as 50% and 75%, are easy to draw, but how do we draw the others like 35.6% or 27% accurately? Since 100% equals 360othen 360o/100=3.6o. It follows that the frequency 32.47% is given by 32.47*3.6o=117 (round to the nearest degree if needed). The general rule for drawing a pie chart is that the slice representing x% is given by an angle of (3.6)x degrees.

Although the distinction between quantitative and qualitative is important, it is very useful to distinguish the way you want to display your data information. Let’s say the number of categories is around the dozens, both a pictogram and pie chart will be messy with the display of numbers you have. The best way to do this is by class intervals8. For example, there are three sections to the SAT: math, English, and writing. In 2007 there were 1,494,531 college-bound seniors who toke the SAT each with a score between the minimum of 200 to the maximum of 800 for the math section. Now there is around 61 different numbers between 200 and 800. The best way is to set up a chart in grouping the numbers together. By the general rule of thumb, the number of class intervals should be somewhere between 2 and 20.So the scores would be set up along thing lines of 200-249, 250-399,…700-749, 750-800.
The process of converting test score to grades requires the set up of class intervals. Using the grading scales (A=90-100%, B=80-89%, C=70-79%, D=60-69%, F=0-59%) is one standard approach to use as an absolute grading scale where the class intervals are of (almost) equal length except for F. Another approach is to use a relative grading scale. The professor fits class intervals for the grades to the performance of the class in the test; also known as “grading on the curve”. After looking at the overall class performance, Dr. Blackbeard decides to “curve” the test scores to...

Other assignments on Small Business Management

Ann’S Beauty Parlor: What Does A Small Business Owner Do With A Dying Business?

4332 words - 18 pages Ann’s Beauty Parlor: What does a small business owner do with a dying business? Written by: Partha Ayyanger Linda Fang Jodie Hirsch Debbie Lew Lennix Lewis Table of Contents I II III IV V VI VII VIII Executive Summary …………………………………………………………………… Background ………………………………………………………………… .. Current Situation ………………………………………………………………………. SWOT Analysis ………………………………………………………………………… Critical Issue / Feasible Alternatives

Affect Of Vat Increase On Small Businesses

1091 words - 5 pages The purpose of this report is to consider the marketing mix for the latest HTC Desire HD mobile phone by using two methods-primary and secondary of market research. Both researches’ data can be obtained from internal such as inside the organization and external such as outside the organization sources. Primary research consists of information which is obtained for the first time. In other words, this information has never existed previously. It

Big Changes For A Small Hospital

719 words - 3 pages Big Changes for a Small Hospital Big Changes for a Small Hospital The factors that Nicholas Jacobs and Windber Medical Center applied from the Situational Theory is that Jacobs considered his role as president at Windber Medical Center was the last hope in keeping the doors open (Hughes, Ginnett, & Curphy, 2012). As the Situational Leadership Model suggests the leader must make decisions to use developmental intervention such as

Evaluate And Explain The Limitations Of A Range Of Sources Of Information Both Primary And Secondary, For Small Scale Public Services Projects

1491 words - 6 pages Evaluate and explain the limitations of a range of sources of information both primary and secondary, for small scale public services projects. The source's used in the collection of data for a research project or investigation are of vital importance. Characterised as primary and secondary, a good range will provide more information needed to aid decision making. However it is important to note that it can some time's be difficult to

Comm 315 Week 3 Individual Assignment Personal Action Plan

323 words - 2 pages explained the company’s failure. Compare and contrast how leadership, management, and organizational structures contributed to the failure. Format your paper consistent with APA guidelines Option 2: Small Business Examination Paper Research a small business within your community. Write a paper of no more than 1,050 words that includes the following in your research: Identify the small business’s organizational structure

My Life

1113 words - 5 pages operation happened great change, enterprise management environment uncertainties in the increase, the competition between enterprises as hot as ever, the enterprise had to its business decision and management control system adjustment. To strengthen internal management of the realistic requirement to management accounting put forward new challenges. On the one hand, in the contemporary globalization trend influence, management accounting more and more be

Xyz Construction

445 words - 2 pages transition over the next 12 months, the company owners have hired you, a private consultant, to help them compile and analyze key business information needed for the IPO event. Your job is to help the business owners better understand the marketing, management, business ethics, global dimensions, accounting, financial, economic, legal, information management, research, leadership, and business integration aspects of the company. Main Task

Mism Case Study Boa

966 words - 4 pages Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Bank of America offers services to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves

Business Organization

1415 words - 6 pages payment of all taxes, to include self-employment (U.S. Small Business Administration, 2015). Due to this small fact the sole proprietor would be encouraged to keep immaculate records or hire an accountant to oversee all of the transactions for the business and personal means. The liability to the sole proprietor is limitless. Since there is no separation between the business and the owner it also means that there is no separation between the

Academic Article For Social Media

293 words - 2 pages contribution of networking to small firm marketing. Journal of Small Business Management, 52(1), 164-187. doi:10.1111/jsbm.12038 This journal article presents the benefits of the social network platform within a business, it looks in detail how it can enhance the marketing side of the business by analysing the contribution that networking provides, which is an area that I am interested in covering in the research essay. Since it is published in 2013, the mass improvement of social networking platforms technologies are mentioned.

Managerial Accounting

374 words - 2 pages Management accounting is concerned with the provision and use of accounting information to managers within organizations, to facilitate the managers in their decision making and management control functions. Unlike financial accounting information (which, for the most part, is made publicly available), management accounting information is used within an organization and is usually confidential. (Jiambalvo) The distinction between traditional

Similar Documents

Small & Medium Enterprise Essay

6649 words - 27 pages the lifeblood of a business -- the fuel that keeps the engine running -- most business owners don't truly have a handle on their cash flow," says Philip Campbell, a CPA and former chief financial officer in several companies and author of Never Run out of Cash (Grow & Succeed Publishing 2004). Cash is king when it comes to the financial management of a growing company. The gap between the time to pay suppliers and employees and the time to

Problems In Developing Small Scale Industries In Bangladesh

3349 words - 14 pages adequate capital to run the business efficiently. Unskilled Human Resources: Human resources of our country are not skilled this is a problem with developing small scale enterprises in Bangladesh. The economic environment of our country is not hundred percent suitable for operating the business another cause of the restrictions. Excessive import of foreign product: Excessive import of foreign product in our country is another reason cause when

Small Bsuiness Essay

276 words - 2 pages These days entrepreneurs and small businesses have a lot of different channels they can use to promote their products and build their brands. Social media, blogs and other online channels can be inexpensive and effective tools for small business branding. However, it’s important to understand the expectations of each channel so that you get the best results and create a positive impression of your brand online. Here are our Top 5 tips for

Small Is Beautiful Essay

2616 words - 11 pages , IIMK for class discussion only. Does not depict the correct or incorrect handling of any management situtation. Names are changed for confidentiality. Some technical facts adopted from HBR Case 9-689-030 are gratefully acknowledged. [2] STC follow the calendar year for accounting purposes also [3] See Exhibit 1 ----------------------- Small Orders Specs Rush Order Bid Estimate Sheet DPR Factory Order COO Blue