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Increasing the Efficiency of Decision-Making Process with the Help of Econometrics

Author

Listed:
  • Teselios Delia

    (“Constantin Brancoveanu” University of Pitesti, Faculty of Management-Marketing in Economic Affairs Pitesti)

  • Vilcu Anca

    (“Constantin Brancoveanu” University of Pitesti, Faculty of Management-Marketing in Economic Affairs Pitesti)

  • Albici Mihaela

    (“Constantin Brancoveanu” University of Pitesti, Faculty of Management-Marketing in Economic Affairs Ramnicu Valcea)

Abstract

Representing a combination of mathematical methods, economic theory and statistical techniques, econometrics has an important role in fields like management, marketing, accountancy, finance, etc. The large number of practicability fields represents the reason for which, in the last decades, econometrics has known a spectacular development, moving from studying macroeconomic phenomena to microeconomic phenomena. This paper aims to present an econometric analysis of the decision to replace a random wear terminal accomplished with the aim of decision substantiation regarding the IT field. within a company.

Suggested Citation

  • Teselios Delia & Vilcu Anca & Albici Mihaela, 2012. "Increasing the Efficiency of Decision-Making Process with the Help of Econometrics," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1211-1214, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1211-1214
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    More about this item

    Keywords

    econometrics; the operating probability; the operating curve; the rate of supply;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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