What do you mean by participative management? Discuss its advantages and disadvantages.

Explain the need for training of staff in libraries.

Why disaster management in essential for libraries? Discuss.

Describe the impact of electronic publishing on acquisition.

Discuss the need for accession policy in a library.

Elaborate the important managerial functions and their application in effective management of libraries.

What do you understand by financial management? Discuss the principles that govern financial management.

What is the probability that neither will be red?

Explain the purpose, importance and the process of document weeding in libraries.

What is the probability that the first ball will be red and the second yellow?

Suppose a large jar contains eight red balls, six yellow balls, and six blue balls. Two balls are to be selected at random from the jar, and the first ball selected will not be placed back into the jar.

Describe internal and external causes for deterioration of print documents in libraries.

.Raj expects his future earnings to be worth Rs 100. If there is some unfortunate event, his expected future earnings will be Rs 25. The probability of an unfortunate event to occur is , while that of things remaining fortunate is . Suppose his utility function is given by U(Y) =  where Y represents the amount of money. Now suppose an insurance company offers to fully insure Raj against the loss of earnings caused during an unfortunate event at an actuarially fair premium.

(i) Will Raj accept theinsurance? Explain.

(ii) What would be the rate of actuarially fair premium charged in this case?

(iii) What would be the maximum amount that Raj would pay for the insurance?

Solve the following linear programming problem:

Min See Answer →

Discuss the various approaches to deal with resistance to organisational change.

(a) Differentiate between a Hicksian and a Walrasian demand function? Do they ever intersect? Explain.(b) Consider a Cobb-Douglas utility function

here Xand Yare the two goods that a consumer has an option to consume at per unit prices of PXand PY, respectively. Assume income of the consumer to be Rs M. Determine

(a)Uncompensated demand functions for goods X and Y

(b)Compensated demand functions for goods X and

Distinguish between the characteristics of first and second order difference equations. Give examples of economic problems that are solved with the help of each category of such equations.

(a) What is the normal probability distribution function? State its properties.

(b) The concentration of impurities in a semiconductor used in the production of microprocessors for computer is a normally distributed random variable with mean 127 parts per million and standard deviation 22. A semiconductor is acceptable only if its concentration of impurities is below 150 parts per million. What proportions of the semiconductors are acceptable for use? (The area under the standard normal curve for the value of z = 1.5 is 0.668).

Consider the utility function See Answer →

(b) “Homothetic production function includes Homogeneous production function as a special case.” Justify this statement.