Business Statistics Term Paper Example | Topics and Well Written Essays - 1500 words

Business Statistics - Term Paper Example Business statistics is used in all the functional departments of an organization – finance, human resource, marketing, operations and management and accounting. In the finance function, it is normally used to make decisions relating to measuring risk using variances, investments in stock markets using means, acquisition of assets and valuations (Keller, pp. 7). In marketing, it allows the managers to make decisions on the four Ps based on the identified consumer patterns and buying behavior using histograms, means and inferences (Keller, pp. 8). It also plays a vital in the company’s operations and management. It allows the managers to decide on the reorder points using histograms, waiting for lines using Poisson distribution, location analysis using regression and quality using variance.Linear Regression is an important statistical technique that compares the change in one variable with respect to another variable(s). It is most commonly used a tool in the business env ironment for various purposes including decision making. This is considered the best method for the estimation of the line of best fit which minimizes the chances of error.Linear regression is being used in a wide variety of business functions across the organizations. In the accounting function, it is used to project the costs based on the level of activity as well as separate the fixed and the variable costs. In another scenario, it allows the analysis to separate the fixed and variable costs from the total costs.  

Marine biodiversity conservation Essay Example | Topics and Well Written Essays - 1000 words

Marine biodiversity conservation - Essay Example The main externalities from impure goods are: Limit to growth problems: some impure goods are non-replenishable and could fall within a given geographical area posing problems that influence the whole world or the region for example forests, natural gas, and endangered species of plants and animals. In this regard, exploitation of these natural resources in a given country have to take into consideration externality effects beyond the borders otherwise result in international tension as exemplified by the Arab Israel conflict through the sharing of water from the Golan Heights and Mount Sinai. More benefits than the costs: the payment for an impure good does not cover the positive effects of having the good for example payment to visit a park are minimal for payment of benefits delivered by the park. This shows that impure public goods have more positive externality than negative. There are three main technologies for the supply of public goods for analysis in this study, which are additive, weakest link and best shot impure goods supply technologies. There are factors that affect supply of impure public goods like marine biodiversity due to the characteristics they posses. There is a need to ensure socially efficient supply of impure public goods like marine biodiversity, but currently there is undersupply. Marine biodiversity conservation is an important factor to the local and the international environment and there has to be participation between more than one country for the realization of the optimal supply amount for the benefit of the current and the future generations. This is due to the benefits of marine biodiversity conservation that span beyond the national borders opening the need for the collaboration between national, regional, and global partners for the conservation of marine biodiversity. The additive supply technology