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Biostatistics (also known as biometry) is a branch of statistics that applies statistical methods to a wide range of topics in biology. It encompasses the design of biological experiments , the collection and analysis of data from those experiments and the interpretation of the results.
Social statistics is the use of statistical measurement systems to study human behavior in a social environment. Statistical finance , an area of econophysics , is an empirical attempt to shift finance from its normative roots to a positivist framework using exemplars from statistical physics with an emphasis on emergent or collective ...
Management science (or managerial science) is a wide and interdisciplinary study of solving complex problems and making strategic decisions as it pertains to institutions, corporations, governments and other types of organizational entities.
Managerialism is the idea that professional managers should run organizations in line with organizational routines which produce controllable and measurable results. [1] [2] It applies the procedures of running a for-profit business to any organization, with an emphasis on control, [3] accountability, [4] measurement, strategic planning and the micromanagement of staff.
The approach based on optimality models in biology is sometimes called optimality theory. [1] Optimal behavior is defined as an action that maximizes the difference between the costs and benefits of that decision. Three primary variables are used in optimality models of behavior: decisions, currency, and constraints. [2]
Management control as an interdisciplinary subject. A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole in light of the organizational strategies pursued.
Knowledge-Based Decision-Making (KBDM) in management is a decision-making process [2] that uses predetermined criteria to measure and ensure the optimal outcome for a specific topic. KBDM is used to make decisions by establishing a thought process and reasoning behind a decision. [ 3 ]
If the system is a machine-to-machine system, the corrective inputs (decision rules) are designed into the network. When the control relates to a man-to-machine or man-to-man system, however, the individual(s) in charge must evaluate (1) the accuracy of the feedback information, (2) the significance of the variation, and (3) what corrective ...