A permutation is defined as a controlled arrangement of an object(s). While distinguishable permutations are seen as objects permutations that cannot be achieved from another by simply reorganizing the locations of the same kind of elements. Formula for calculating permutation is often written as: P (n, r).

As a mathematical rule, the fundamental counting principle helps researchers recognize the possible number of ways an event can happen. In that if, the first event will probably happen 3 ways, then the second event can happen 4 ways and so on, then through the multiplication of the unique combinations the possible unique ways it can occur can be identified: for example 4 x 5 x 3 = 60 unique possibilities.

In a permutation, the general order of thing is prioritized, while in the collection the exact opposite is applied. For example, when making a sandwich, how many possible divergent combinations of 2 ingredients could be made with mayo, turkey and cheese? Solution is turkey- mayo, cheese- mayo or turkey- cheese.

Week 8 Probability

The likeliness of something happening is what is referred to as probability. For example, what are the chances that if a coin is tossed it will land its head facing up? The sample space or all the possible outcomes of the tossing action have to be analyzed before the question can be answered. Within such experiments the action is an event, the sample space includes only two aspects either tails or heads.

The total number of success divided by the number of outcomes within a sampling space help determine the probability of an event. A coin only has two sides that are a head and tail. To get a success the desired coin toss during an event has to be attained, but there is only one possible result within the sampling space. The entries for this probability would be noted as P (Heads) = 1/2 or .5.

Within the throwing die, there is only one side that contains a five but there are 6 possible results. Therefore, the chances of attaining an 8 are 1/6. This equation mathematically would be written as P (5) =1/6.

Tree diagram for tossing two, eight-sided dice

Research has shown that the main reason as to why visuals are used in solving probability equations is that people often try to choose representations appropriate to the problem structure and that the representations appropriateness is determined by the underlying plan of the problem. In addition use of visuals is proved to use of visual aids help facilitate probability problem-solving aspects, but only when a correct representation is a chosen.

Week 9 “Statistics

The concept application is more advantageous. The highest scores needed to make it an A are adjusted. Then by the same measure all the other grades increase. Everyone benefits.

No, it’s impossible for everyone to pass simultaneously mainly since there is a pre-ordained number of grade, and yes the A and Fs are the same amounts while, the rest are most scarce. This is a very unfair way of grading since even if all grades are above 90% some students must fail by getting Fs. most commonly the curve often used sets percentage and takes the highest scores based on that. However, if there is a large number of failures, it then does not work in their favor, unlike when the highest score is much lower.

Accounting

Week 9 “Valuation of Accounts Receivables”

When companies feel they cannot recover the money a customer owes then the direct write off method is utilized. It advantages include its simple, and in addition, companies through their annual tax returns can write off their bad debts. Its disadvantages include the possibility of managerial influence, and the fact that the balance sheet is not an accurate.

The method of allowance for doubtful accounts method

changes its methods of estimation to align reserve with an actual outcome.

An alternate way of improving reporting in accounting can be through the integration of new technology to the old methods to mainly improve accounting efficiency and accuracy, streamline and automate the business processes and increase productivity while reducing labor costs and time. One such system is the SaaS model that is mitigating the needs associated with the changing roles of the CFO, while delivering positive ROI and value to the whole business.