Place-value

(noun)

the numerical value that a digit has by virtue of its position in a number.

Related Terms

Examples of Place-value in the following topics:

  • Drawing a Histogram

    • A convenient starting point is a lower value carried out to one more decimal place than the value with the most decimal places.
    • For example, if the value with the most decimal places is 6.1, and this is the smallest value, a convenient starting point is 6.05 ($6.1 - 0.05 = 6.05$).
    • If the value with the most decimal places is 2.23 and the lowest value is 1.5, a convenient starting point is 1.495 ($1.5-0.005 = 1.495$).
    • If the value with the most decimal places is 3.234 and the lowest value is 1.0, a convenient starting point is 0.9995 ($1.0-0.0005=0.9995$).
    • Also, when the starting point and other boundaries are carried to one additional decimal place, no data value will fall on a boundary.

  • Values, aesthetics, and time

    • An individual's values arise from his/her moral or religious beliefs and are learned through experiences.
    • For example, in America we place a very high value on material well-being, and are much more likely to purchase status symbols than people in India.
    • Americans spend large amounts of money on soap, deodorant, and mouthwash because of the value placed on personal cleanliness.

  • Histograms

    • A convenient starting point is a lower value carried out to one more decimal place than the value with the most decimal places.
    • For example, if the value with the most decimal places is 6.1 and this is the smallest value, a convenient starting point is 6.05 (6.1 - 0.05 = 6.05).
    • If the value with the most decimal places is 2.23 and the lowest value is 1.5, a convenient starting point is 1.495 (1.5 - 0.005 = 1.495).
    • If the value with the most decimal places is 3.234 and the lowest value is 1.0, a convenient starting point is 0.9995 (1.0 - .0005 = 0.9995).
    • If the data are discrete and there are not too many different values, a width that places the data values in the middle of the bar or class interval is the most convenient.

  • Value Clusters

    • People from different backgrounds tend to have different sets of values, or value systems.
    • In general, the World Values Survey has revealed two major axes along which values cluster: (1) a continuum from traditional to secular values and (2) a continuum from survival to self-expression.
    • Secular values have the opposite preferences to the traditional values.
    • These societies place less emphasis on religion, traditional family values, and authority.
    • Survival values place emphasis on economic and physical security.

  • The marketing model

    • The marketing model is an approach whereby companies create value for their customers.
    • Finally, the product or service must be delivered at the right time and place.
    • Value is created by increasing benefits to the customers.
    • For this reason, "benefits" is specified in the numerator of this equation (the higher the benefits, the higher the perceived value by the customer); on the other hand, "price" is placed in the denominator since the higher the price the lower the perceived value.
    • Now you must understand how value is created for your customers.

  • Light and Value

    • Value refers to the use of light and dark in art.
    • The use of light and dark in art is called value.
    • High contrast refers to the placing of lighter areas directly against much darker ones, so their difference is showcased, creating a dramatic effect.
    • Low-contrast images result from placing mid-range values together so there is not much visible difference between them, creating a more subtle mood.
    • Chiaroscuro, which means literally "light-dark" in Italian, refers to clear tonal contrasts exemplified by very high-keyed whites, placed directly against very low-keyed darks.

  • The Exchange of Value

    • Value changes based on time, place and people in relation to changing environmental factors.
    • Value can also be expressed as $Value = Benefits - Costs$
    • For an organization to deliver value, it has to improve its value to cost ratio.
    • When it delivers high value at low price, the perceived value may be high.
    • The value in the marketplace varies from place to place as well as from market to market, and there are parallels between cultural expectations and consumer expectations in relation to perceived value.

  • Fair Value Method

    • In accounting, fair value (also knows as "fair market value") is used as a certainty of the market value of an asset (or liability) for which a market price cannot be determined (usually because there is no established market for the asset).
    • An estimate of fair value is usually subjective due to the circumstances of place, time, the existence of comparable precedents, and the evaluation principles of each involved person.
    • This is in contrast to an imposed value, in which a legal authority (law, tax regulation, court, etc.) sets an absolute value upon a product or a service.
    • Fair market value (FMV) is an estimate of the market value of a property.
    • Explain how the Fair Value Method is used to calculate the value of holding of less than 20%

  • Adding Value

    • Louis Vuitton is a prime example of how marketing adds value.
    • Since value changes based on time, place, and people in relation to changing environmental factors, marketing adapts to consumers changing perceptions and beliefs in order to have optimal value creation.
    • Conducting an effective customer value analysis can lead a company to creating an accurate value proposition.
    • A value proposition is a promise of value to be delivered and a belief from the customer that value will be experienced.
    • Organizations can use value propositions to position value to a range of constituents such as:

  • The Manager's Role in Ethical Conduct

    • Employees can more easily make ethical decisions that promote a company's values when their personal values match the company's norms.
    • Personal values in this way exist in relation to cultural values, either in agreement with or divergent from prevailing norms.
    • Religion (or a lack thereof) also plays a role in teaching children values.
    • If you value equal rights for all and you go to work for an organization that treats its managers much better than it does its workers, you may form the attitude that the company is an unfair place to work; consequently, you may not produce well or may even leave the company.
    • Explain the role of personal values in influencing behavior in organizations