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Unit I REALMS OF CREATIVITY
Objective of creativity
- To enhance creative potential by strengthening various mental abilities and shape an ordinary learner to become an extraordinary learner.
- To expose the learners to creative problem solving exercises by developing integrative intelligence to become managers with creative skills.
- To help the learners to become thoughtful managers by understanding workplace creativity and ways of harnessing (tie together) it for organizational excellence
- To expand the
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Standard deviation: average measure from data and mean (square root of variance).How far the data is on average from the mean.
Solve: Find the variance and take the square root of it.
Coefficient of Variation: standard deviation of two sets of data. Shown as as a percentage and measures the variation side by side with the mean
Solve:: CV = standard deviation/ mean * 100
Counting numbers is discrete
Center and Variability:
Descriptive Measures: a single number thats comes from the sample data
Central
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1. What does the price elasticity of demand measure?
e. | a consumer’s sensitivity to a price change REF: Determinants of the Price Elasticity of Demand |
2. From the accompanying table, we would expect that, for recreational skaters, the price elasticity of demand for ice skates between $10 and $20 to be ________ than that of hockey players because ________.
Price of Ice Skates | Quantity Demanded (hockey players) | Quantity Demanded (recreational skaters) |
$10 | 95 | 70 |
$20 | 85 | 50 |
$40 | 75 | 35 |
$50 | 65 | 45 |
$ |
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1.How does managerial accounting differ from financial accounting?
Financial accounting is concerned with reporting financial information to external parties, such as stockholders, creditors, and regulators. Managerial accounting is concerned with providing information to managers for use within the organization. Financial accounting emphasizes the financial consequences of past transactions, objectivity and verifiability, precision, and companywide performance, whereas managerial accounting emphasizes
Read MorePercentages & Ratios Cheat Sheet
A ratio says how much of one thing there is compared to another thing.
There are 3 blue squares to 1 yellow square
Ratios can be shown in different ways:
Use the “:” to separate the values: | 3 : 1 | |
Or we can use the word “to”: | 3 to 1 | |
Or write it like a fraction: | 31 |
A ratio can be scaled up:
Here the ratio is also 3 blue squares to 1 yellow square,
even though there are more squares.
Using Ratios
The trick with ratios is to always multiply or divide the numbers by the same value.
Example:
4 |