Type 2 error

Being a CPA, I have never taken any proper accounting related course. I only studied for professional exam. My professional knowledge and experience were gained from PwC by investing my most precious 5 years. After all, I learned that the published financial statements provided the least information for investment decision.

Today, I had my first proper accounting class. Professor Yip gave me a new perspective about how to review a financial statement. You can smell something by checking the thickness of the report, any photos (irrelevant information), any change of comparative figures, any change of auditor or independent director. Sounds .... did I waste 5 years in PcW?

He emphaized how to avoid type 1 error (total loss) by reviewing the financial statement. He also suggested that we should not make any investment if the expected gain is less than 100%... what? yes....100% in 1 year.

If we follow his approach, we will only make type 2 error (miss a good opportunty). What an accountant investment approach!!!

臨時加插的歷史課

EMBA 有一個傳統，每一科完成後都會和教授吃飯，這科是Operation Management，教授是曾淵滄，飯局在九龍塘會。

曾教授在股壇名氣不少，很多同學每天都拜讀他的股評專欄，平時上課，大家總是向他要“Number”，今天晚上的謝師宴，以為是一個2007股價走勢的講座，出奇不異，原來是中史，地理的補習班。

什麼五代十國，五胡亂華，炎王子孫，鄭和下西洋，李世民原來不是漢人，李白是俄羅斯人，西施是越南妹，曾教授是曾子後人，是曾特首的阿叔，原來曾特首也是曾總理的阿叔， 聽得我一頭暮水！

博學的郭同學當上了助教，同樣有本領穿梭於五千年中華文化的時空中。臨時加插的這堂歷史課，讓我手足無措，一度以為自己誤闖周星星的腦震盪工作間！

求學不是求分數

今天又做了一個Group Project，各組的題目一樣，present 的內容大同小異，同組同學和我都是在香港教育制度培育出來的，對於如何「求分」有相同的見解，就像考試捉題目一樣，要知道教授的絕學是什麼，把他的東西發揚光大，應用在各方各面，一般都能取悅他，拿到不錯的分數，這個Sushi Project想爆頭，想出了一招半式，不知道那條Critical Path會否為我們帶來Critical Result!

現在讀書，求學不是求分數，但是難改故有的思維!

Linear Programming

Linear Programming is an optimization technique. Giving a set of constraints, you can work out the optimal result mathematically and systematically. It is a scientific way to maximize resource allocation.

I am thinking how to set up a model for the PM problem of my company.

Constraints:
List of project on hand
HR requirement for each project
Number of available staff and their respective cost

Minimize:
Minimize the staff cost to deliver the existing projects on hand

Well, still dun know how to set up the solver?