Quantitative Techniques: A Managerial Perspective
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The complexity of today’s business operations, high cost of technology, materials, manpower and competitive pressures,
contribute to the difficulty of making effective decisions. An effective decision depends on different economic, social and political
factors and the view points. The primary objective of quantitative methods or techniques is to help decision-makers make better
decisions by solving problems more effectively. Thus, an understanding of the applicability of quantitative methods to business
decision-making is important for any decision-maker.