Convert numbers from one scale into numbers in a different scale such as temperatures, currencies, units of measurement, distances, and speeds.
- On September 23rd, 1999,…NASA lost contact with its Mars Climate Orbiter.…The maneuver that the Orbiter was performing…when contact was lost was the firing of thrusters…to slow down the spacecraft into Mars orbital speed.…The Mars Climate Orbiter was never heard from again.…Subsequent NASA analysis uncovered…the following embarrassing cause of the mishap:…the software controlling the thrusters…was measuring the force in pounds,…whereas the software calculating the spacecraft trajectory…was interpreting those numbers as if they were in kilograms.…
This pound-kilogram mismatch caused the Mars Climate Orbiter…to descend too close to the planet, and it disintegrated.…Now, we are often faced with a requirement…to convert a number measured in one scale…into a number in a different scale.…For example, for two years I lived in Astana, Kazakhstan…where temperatures were reported in degrees Celsius.…Having grown up in the United States…with the Fahrenheit scale,…I was constantly doing mental arithmetic…to figure out what the temperature really was.…
In this course, join accounting professors Jim and Kay Stice as they help you discover how to leverage the power of numbers to approach businesses problems and make everyday decisions. They explore the power of ratios and percentages, how to monitor and evaluate your budget, how to forecast the timing and amount of a business loan, and much more.
- The power of ratios and percentages
- Growth rates, rule of 72, and extrapolation
- Financial ratios to determine unpaid inventory
- How to convert to percentages
- Variance and the concept of risk
- Numerical planning and everyday decisions
- Creating, monitoring, and evaluating your budget
- Forecasting the timing and amount of a business loan
- The power of compound interest
- Loan payments and interest rates