Rewrite the answer in your own words.

You will only be rewriting the “Answers” total of 300 words required. There are two answers to rewrite, both 150 words each.

 

 

Question:

What are some examples of using a budget? How can budgets be mismanaged or misunderstood? Why is it important to develop a statistics budget before a financial budget? Provide a brief 3-5 item statistics budget, such as ED Visits by month, meals by month, etc. Explain your answers. For example, your department’s budget plan for meals is 2400 per day. The cost amount per meal is $1.75. The total cost per day would be 2400 x $1.75. The price for each meal is $4.00 and the total revenue from meals per day is 2400 x $4.00. Cite references if you use sources other than the e-text.  The idea here is to think in terms of units of production before determining dollar amounts. Reason being is general or overview dollar amounts do not help us to understand or improve operations or provide us with focused details for managerial decision making. From a career or job perspective, if you were asked how would you help prepare a budget, what would you need to know first through last to develop a defensible budget ~ one that is evidence based.

 

 

Answer to reqrite 150 words:

Budgets are the tools that managers use to run a business. Budgets are needed to run a business effectively and efficiently.  Budgets can be mismanaged or misunderstood by unforeseen circumstances, over budgeting or under budgeting. It is important to develop a statistics budget before a financial budget because a statistical budget calculates the budget needed for various scenarios and levels of  activity. An example of a statistical budget would be if my company was to propose a clinical trial, we would need to come up with an approximate budget to account for the data that was needed for the study. The protocol reads that we are to enroll 20 subjects. We have a budget of $100 per subject. The cost of the study would be 20 x $100. The site only enrolled 9 subjects. The total cost of the study would be $100 x 9 subjects. To prepare a budget you need to know how much money you have to spend and the expenses you may enquire to achieve the company’s goal.

 

 

 

 

Question:

1.    Quadratic equations can be solved by graphing, using the quadratic formula, completing the square, and factoring. What are the pros and cons of each of these methods?

2.    When might each method be most appropriate?

3.    Which method do you prefer? Why?

 

 

 

Answer to rewrite 150 words

Graphing is the fastest, but who carries a graphing calculator? It’s also difficult to see the intercepts exactly. However, if there are no x intercepts it will show that there is no solution. Using the  quadratic formula works, but is messy when factoring results in decimals. My personal opinion is completing the square is awkward. I’ve watched multiple videos and I am still shaking my head – it makes sense when I am watching, but I have trouble remembering how to make the middle number (something times x) into a 2ax, then some for a. So, if the quadratic equation is a perfect square, I use the factoring method. If it does not it would be best to complete the square.