The magnitude of the difference between observed frequencies and expected frequencies is called .......................

Quantitative techniques involve the use of numbers symbols, mathematical expressions, and other elements of quantities, and serve as supplements to the judgment and intuitions of the decision makers. Quantitative techniques help businesses in efficient utilization of limited resources. Contrast that with qualitative analysis, which uses subjective judgment to analyze a company's value or prospects based on non-quantifiable information, such as management expertise, industry cycles, strength of research and development, and labor relations. Some of the primary techniques applicable to... Show more

Quantitative techniques involve the use of numbers symbols, mathematical expressions, and other elements of quantities, and serve as supplements to the judgment and intuitions of the decision makers. Quantitative techniques help businesses in efficient utilization of limited resources.

Contrast that with qualitative analysis, which uses subjective judgment to analyze a company's value or prospects based on non-quantifiable information, such as management expertise, industry cycles, strength of research and development, and labor relations.

Some of the primary techniques applicable to Quantitative Management include:
Theory of Probability
Sampling Analysis
Correlation / Regression Analysis
Time Series Analysis
Ratio Analysis
Variance Analysis
Statistical Quality Control
Linear Programming

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