This is the class blog for Busn170 taught at FCC 2008. All students are required to make at least one meanningful post or comment per week.

Tuesday, November 25, 2008

ANSWER TO CASE STUDY QUESTION 3

WHAT ARE SOME WAYS THAT FRIEDMAN MIGHT EVALUATE WHETHER HIS QUANTITATIVE TOOLS ARE WORKING? BE SPECIFIC

Quantitative techniques involve applying a set of mathematical rules to a series of past data to predict outcomes.
Friedman can use regression models and predict certain factors such as the outcome of the pitch. He is currently using data mining and financial models he can follow what the ternd ahs been towards such moves in the game and accordingly mould his tools. Friedman can make sure players perform well and to their maximum potential and use the substituion effect to analyse the effect of the pitch.

4 comments:

M. Umer Toor said...

TO evaluate the working of his quantitative tools - Regression Models? I am not sure, but its already a quantitative method, it may fall under the category of financial techniques. How come one get 'fresh' perspectives from 'frame-of-reference (f.o.r) A' when he has already used up 'f.o.r A'??

Well that's certainly better, reviewing the results! I am not sure whether tools can be moulded. Tools are tools, a path cannot be changed by a manager, but only by a constructor. What a manager can do is to adapt other tools, and reject obsolete.

Nazish William said...

MOULDING TOOLS meant that he can shape his strategy in such a way that it brings the maximum positive output for him. a manager can always choose how to go about doing things in the way that seems best to him!
we all are still waiting for your answer to ques 1!!

M. Umer Toor said...

I would like to reiterate: moulding tools is not a feasible option for manager, no matter what you meant by your original statement. They can be upgraded, they can be replaced, nevertheless.
REshapeing strategy - I perfectly understood that proposition, and I agree.
While answering this question did you go beyond Chapter 9? And, how come you think about forec
asting as a single solution when budgeting and scheduling could've been considered?
As for question 1 - WE've have decided to fully search & re-search as group and individually.

Nazish William said...

i guess the answers were supposed to be on the blog yesterday and as far as my view is concerned TOOLS AND TECHNIQUES ARE SLAVES TO A MANAGER, A MANAGER IS NOT SLAVE TO THEM.
data mining and financial models include budgeting and scheduling both

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