Nothing wrong and definitely wrong By Prof DR Sohail ansari

you who have believed! Do not devour one another’s property by unlawful ways; but do business with mutual consent. Surah Nisaa verse 29

You and business are to be inextricably linked

·        There is nothing wrong if it is hard to imagine you in the beginning without an organization, but there is something definitely wrong with you if it never becomes hard to imagine an organization without you.

 

Quote:

 

Always remember that you are absolutely unique. Just like everyone else. Margaret Mead

Exercise & examples for students

Company y grapples with the problem that many customers those belong to rural areas do not return to make subsequent purchases. Management wants to build up the customer loyalty as it believes that improved customer satisfaction will help to translate this goal into reality. 

To investigate this problem, you have to identify and plan to focus on problem statement, objective, and research questions and Sub-question.

Problem: Many customers those belong to rural areas do not return to make subsequent purchases.

Objective: To build up the customer loyalty so to have subsequent purchases, and thereby generate more revenue.

Research question: ‘How can the satisfactions of company Y’s rural customers be improved in order to increase customer loyalty?’

Sub-questions:

1.    ‘What factors affect the satisfaction and loyalty of company Y’s rural costumers?

2.   ‘What is the relationship between customer loyalty and costumer satisfaction?’

3.  ‘How satisfied and loyal are company Y’s rural costumers currently?’

 

Independent and Dependent Variable Examples

Generally speaking, in any given model or equation, there are two types of variables:

·         Independent variables - The values that can be changed or controlled in a given model or equation. They provide the "input" which is modified by the model to change the "output."

·         Dependent variables - The values that result from the independent variables.

Using Independent and Dependent Variables

The definition of an independent or dependent variable is more or less universal in both statistical and scientific experiments and in mathematics; however, the way the variable is used varies slightly between experimental situations and mathematics.

Example of Variables in Scientific Experiments

If a scientist conducts an experiment to test the theory that a vitamin could extend a person’s life-expectancy, then:

·         The independent variable is the amount of vitamin that is given to the subjects within the experiment. This is controlled by the experimenting scientist. 

·         The dependent variable, or the variable being affected by the independent variable, is life span. 

The independent variables and dependent variables can vary from person to person, and the variances are what are being tested; that is, whether the people given the vitamin live longer than the people not given the vitamin. The scientist might then conduct further experiments changing other independent variables -- gender, ethnicity, overall health, etc. -- in order to evaluate the resulting dependent variables and to narrow down the effects of the vitamin on life span under different circumstances.

Here are some other examples of dependent and independent variables in scientific experiments:

·         A scientist studies the impact of a drug on cancer. The independent variables are the administration of the drug - the dosage and the timing. The dependent variable is the impact the drug has on cancer. 

·         A scientist studies the impact of withholding affection on rats. The independent variable is the amount of affection. The dependent variable is the reaction of the rats.

·         A scientist studies how many days people can eat soup until they get sick. The independent variable is the number of days of consuming soup. The dependent variable is the onset of illness.