All Posts in "NEW BUSINESS MATH"

Examples of Mathematical Economics

There are several examples of mathematical economics, and the first is the Cournot duopoly. Game theory, Statistical econometrics, and Quantitative models are just a few. But each method is flawed in some way. The main problem is that none of these methods actually account for human actions.

Statistical econometrics

Statistical econometrics is a branch of economics that uses mathematical principles to make predictions about economic variables. It is a branch of mathematics that relies heavily on numerical methods and mathematical models. The goal is to generate statistical models that can be trusted. Statistical models allow economists to test their predictions.

It uses data from a variety of sources to make predictions. It may include historical stock prices or observations of consumer finances. It may also include unemployment rates and inflation rates in different countries. Data collection, analysis, and hypothesis testing are necessary for statistical econometrics to be valid.

Cournot duopoly

… READ MORE ...
Sofia Benjamin by — May 22, 2022 in Economics Business Mathematics
Hidden Costs of Outsourcing

Whether you’re considering outsource production to a third party or contracting with a staffing agency, you need to know how much outsourcing will cost you. Some of the costs to look out for are:

Costs of outsourcing

A hidden cost of outsourcing is the increased expense associated with keeping up with technology improvements. Technology advances can cause markets to grow or shrink, while companies can be swallowed or acquired. These changes may have negative implications for an organization that is not able to adapt quickly. Outsourcing providers may have a lower operating cost than in-house staff, but the costs can still add up. Outsourcing companies should consider all of their costs before choosing a third-party provider.

Costs of outsourcing to a third party

The cost of managing an outsourcing process can quickly add up to millions of dollars. However, these costs are often indicative of deeper issues. In addition to … READ MORE ...

Sofia Benjamin by — March 18, 2022 in Outsourcing Business Calculations
Marketing Math Examples – The Backbone of a Successful Business Plan

Marketing math examples are the backbone of a successful business plan. If you’re not familiar with these formulas, here’s a quick guide to help you get started. Listed below are a few examples. Once you have a firm grasp of each concept, you can start formulating your own marketing plan. Once you have a solid understanding of the formula, it’s easy to apply it to your business. It also makes it easier to explain to colleagues and clients.

Example formula

If you want to improve your business, learning more about marketing math can be very helpful. If you’re not a mathematician, it’s okay to start from the beginning – there are many online resources that will provide you with a free math guide for basic concepts. For example, an online marketing guide will give you the definitions of Google Analytics, pay-per-click strategies, social media, and many other terms you may … READ MORE ...

Sofia Benjamin by — March 2, 2022 in Mathematics in Marketing
How to Calculate Outsourcing Cost

How to calculate outsourcing cost analysis can be compared to other costs associated with the same product or service, including quality, timeliness, and confidentiality of business information. But how do you compare service costs? In this article, we will examine two popular types of outsourcing contracts: Time and materials contracts and Activity-based contracts. Which type of outsourcing contract should you choose? What are the advantages and disadvantages of each type of contract? And what is the best method of comparing costs?

 

Cost-benefit analysis for outsourcing IT

Before you outsource your IT needs, you should perform a cost-benefit analysis. This process is designed to help you sort out priorities and decide which decisions are the most cost-effective. Cost-benefit analysis also creates a clear picture of the options you have and which will benefit your business the most. By using the process, you can adapt to the current economic crisis and … READ MORE ...

Sofia Benjamin by — February 25, 2022 in Outsourcing Business Calculations
How Is Math Used in Marketing?

If you’re interested in marketing, you may be wondering how math fits in with this field. Marketing officers are often required to handle large budgets and may even act as accountants. Without the proper math skills, they may not be able to function effectively in such a large organization.

In fact, some marketing officers are so dependent on their knowledge of marketing that they can’t handle accounting duties. That means math skills in marketing are crucial if you want to succeed.

Market research

When it comes to marketing, creativity and math are two of the most powerful combinations. The combination of math and creativity is what helps marketing departments and advertisers measure the ROI of their advertising campaigns. Algebra is used in almost every aspect of life, from analyzing customer behavior to predicting sales. Algebraic operations can help marketers determine the optimal price for a product or service. They can … READ MORE ...

Sofia Benjamin by — February 17, 2022 in Mathematics in Marketing