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Words 345

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The first topic I have chosen as important to understand is the question of “What price should we set to increase revenue?” This is very important to know because price setting is a balancing act. If the price that is set is too high, some people will avoid purchasing that product and therefore revenue would not increase. If a price is increased and it causes some consumers to look elsewhere, revenue could stay relatively flat or even decrease. If a price is set too low, sales could increase but it would create a shortage and there is a situation where the company left money on the table and could have made more profit on the same amount of product. In this case the company left money on the table. Careful research would have to be done in advance of price setting to make sure that the price set is right for the amount of product that can be produced and at the highest possible profit margin.

The second topic I have chosen is, “Can we make more money by adding new equipment?” This is important to be able to figure out because if more money can be made by investing in equipment then it is worthwhile to make the investment. If the increase in sales is not enough to pay for equipment then the decision to make the investment is a loser. This is important for a manager to be able to decide because if a wrong decision is made, the manager may end up looking for another place to work. Companies do not like to lose money and a poor decision can be very…...

...Inventory Systems Summary Christine Burns, Felicia Cobbs, Carolina Martinez, Paula Williams QRB 501 Quantitative Reasoning for Business Professor Jim Easley April 25, 2012 Inventory Systems Summary The team will introduce several factors to summarize the functions descriptions and the advantages and disadvantages of inventory systems. The descriptions of inventory systems will show how one relates to many organizations. The advantages and disadvantages will show collaboration from the team of how the inventory systems can give a good cause or show the effects as a setback. Warehouse Inventory System Transferring information inventory can be used by a public school district or a university as a barcode to scan physical records of information from a particular inventory. This process can be done as a third party software to download a particular file which holds information in inventory from one`s personal computer to a high performance data system (Ruiz-Torres, Mahmoodi, 2010). Transferring barcode data from one file to another is called warehouse inventory physical file. This process has to be done by ensuring to upload data, which is scanned from one computer to the high compatible system. Physically entering inventory allows company data history for stored input. The process involves entering information in the district demonstration field of system. The stock item of quantity has to be entered with capability of information to be displayed. The......

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...The Key Formulas for the central tendency measures are calculated for opening gross in the provided school Excel file. Opening gross has a right tail, so therefore the median would be more central tendency mean than the measure. The median opening gross was 0.39; 50% of the opening gross values were less than 0.39, 50% were above 0.39. The skewness of opening gross was 3.43 indicating a right tail. The range of opening gross ranged from 0.01 to 108.44. The standard deviation of opening gross was 18.87. The interquartile range for opening gross was 12.37. Based on the opening gross the extreme values were 108.44, 102.69, 77.06, 50.34, 48.75 and 33.90. The values that are less than z-score of -3 or larger than z-score of +3 should be considered outliers. Therefore with that criteria 77.06, 102.69 and 108.44 are considered the outliers. The range of total gross was from 0.03 to 380.18. The standard deviation of total gross was 63.16. The interquartile range for total gross was 47.03. Based on the total gross the extreme values were 380.18, 287.18, 234.21, 209.22, 205.28, and 186.22. The values are less than z-score of -3 or larger than z-score of +3 should be considered outliers. Therefore with that criteria 380.18, 287.18, and 234.21 are once again considered outliers. The tendency measures are calculated for the number of theaters has a right tail so median would be a much more appropriate central tendency measure than the mean. The median was 410; 50% of values on the......

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...Jason D Knight BA 520 Quantative analysis Filer Assignment 3 Jason D Knight BA 520 Quantative analysis Filer Assignment 3 1. Discuss the importance of inventory control with respect to supply and demand. Inventory is stored resource that may be used for current or future need to satisfy the organizations customers. Inventory is very important to companies as it is the most expensive asset that comprises over fifty percent on invested capital, and keeping control of inventory is crucial to managers, companies must learn to balance between high and low levels of inventory to keep customers satisfied. 2. What benefit can tools such as ABC analysis and just-in-time controls provide for an organization? The purpose of Just in time controls or ABC analysis is simple to allow an organization a means of controlling how they focus on their invested inventory. The ABC analysis provides a means to divide an organization’s items into 3 categorical groupings based on value. These groups account for the entire invested inventory, the A group consists of major inventory costs usually about 70% in value but 10% in actual end items. B groups are usually median priced, and median quantity, and C groups or low priced and high quantity. 3. How can an enterprise resource planning system assist a firm with improving its business operations? According to the text quantitative analysis for management the purpose of an Enterprise resource planning system is to......

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...After reviewing the Quantitative Reasoning for Business (QRB) Overview document, I can be broadly categorized as techniques of management science—a field melding portions of economics, financial, accounting and operation and research into a pragmatic effort to help an aid into the decisions making process. As an area of study, these QRB are often identified by giving the fundamentals needed (stepping stones) to apply to each class thereafter. In solving a problem, I might consider both qualitative and quantitative factors. For example, in term of economics, a variety of quantitative techniques have been developed to forecast future values. Future sales are the most important variable in business forecasts. Unit sales establish levels for most business activities— from purchasing and production to marketing—and knowledge about sales is a prerequisite to the budgetary and planning process. In term of financial, I might consider different investment alternatives, including certificates of deposit at a bank, investments in the stock market, and an investment in real estate. I can use quantitative analysis to determine how much my investment will be worth in the future when deposited at a bank at given interest rate for a certain number of years. In term of accounting, quantitative analysis can also be used in computing financial ratios from the balance sheets for several companies whose stock I am considering. Some real estate companies have developed computer programs that......

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...Running head: Quantitative Reasoning Quantitative Reasoning University of Phoenix Quantitative Reasoning Decision making for planning, management, and policy formulations relies increasingly on quantitative reasoning, which entails the collection, analysis and interpretation of data. Mathematics plays a huge part in quantitative reasoning but quantitative reasoning is still a skill with practical applications. From my readings, quantitative reasoning can be applied to daily contexts such as understanding the power of compound interest or the uses and abuses of percentages. Quantitative reasoning could also be used for statistical analysis to gauge the accuracy of a statistical study. While Quantitative Reasoning is not the most important component in a masters level education, it is however important for college students to become competent in quantitative reasoning. Many courses do not dive deep into sophisticated math skills but quantitative reasoning should give the student math tools to understand, interpret, critique, challenge and draw conclusions. As I pursue my masters’ degree I feel that the course in quantitative reasoning will prepare me in many of my other classes. The course has provided many examples of how quantitative reasoning is used with many different problems that one could be confronted with in the business world. Such problems include; what is our return on investment for this project? What price should we set to increase......

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...ReAnna DeSaint Joseph Scott BCOM/275 March 4, 2014 Reasoning Aptitude My Reasoning Aptitude Test shows I will work best in a career where success comes from applying practical skills, where thinking is used mostly to solve practical problems. I am attracted to very practical jobs and careers. Such as graphic arts, interpreting, architects, interior design, writers and authors, multimedia arts and graphics, and acting. I love to use my imagination to create things without having a strict job to do exactly, working at my own pace and creating ideas is what I love to do. I personally do photography and will one day open my own business in that field. Taking pictures of models, celebrities, and the world and its many places and landscapes. I cope with pressure very well while maintaining a positive attitude at work. I work productively in pressurized environments even when I dislike that atmosphere. I keep emotions under control and take criticism well to learn from it. I can adapt my personal style to fit into any group or setting, always showing interest in new people and ideas. I am good for producing new ideas and insights to creative projects or ideas. Produce a range of solutions for problems or issues that may arise. Priding myself in developing job knowledge through continual professional development. Also rapidly learning new tasks and understanding newly presented information. Learning from successes and failures while seeking staff and customer feedback...

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...Quantitative Reasoning 1. Create two sets. Set A will be the list of the five items you personally need to buy the most (essential items). Set B will be the list of the five items that you want to buy the most (fun stuff). ANSWER: A = {CAR, GAS, WATER, FOOD, HOUSE} B = {CAR, COMPUTER, IPOD, HOUSE, TV} 2. List the items in Set A and Set B, and also list or state the items in the union and in the intersection of Set A and Set B. ANSWER: UNION = {CAR, GAS, WATER, FOOD, HOUSE, COMPUTER, IPOD, TV} INTERSECTION = {CAR, HOUSE} 3. Now assume that the prices of the items in your set A are 20, 40, 60, 70 and 80. Assume that the prices of the items in your set B are 90, 120, 30, 60 and 40. Note: if you have one or two identical items in both sets, then assume that the prices of the identical items are the same as the prices that appear in set A (instead of having two different prices to the same item.) ANSWER: A = {(CAR, $20) (GAS, $40) (WATER, $60) (FOOD, $70) (HOUSE, $80)} B = {(CAR, $20) (COMPUTER, $90) (IPOD, $120) (HOUSE, $80) (TV, $30)} 4. What will the total cost of Set A be if it contains one unit of each item? ANSWER: $270 5. What will the total cost of the union set be if it contains one unit of each item? ANSWER: UNION SET = $20 + $40 + $60 + $70 + $120 + $80 +$30 = $420 6. What will be the total cost of the intersection? ANSWER: ...

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...year due to breakdowns is $13,787, which is greater than $12,000, they should purchase a backup copier. However, I can’t put high confidence in this answer because the study has serious limitations. Every step of the process used best guesses based on what staff members suggested, and not a rigorous analysis of other similar machines. The repair times and probabilities seem reasonable, and I could expect that data gathered from the college of business to be fairly accurate. But the graph for the probability of breakdowns is at best a rough approximation. A copier won’t suddenly stop working after 6 weeks simply because it’s reached the six-week mark—yet this is what our model implies. And just because the probability of a breakdown increases as time goes by, we don’t know whether the graph should be a line or some other shape. The estimate of the number of copies sold is seemingly arbitrary, and the students even admit they have no way to guess the distribution among these possible values. Perhaps the students could start their business before deciding on whether to purchase a backup copier. This would give them more reliable information about repair time, the frequency of breakdowns, and number of copies sold. Reference: * Taylor, B. M. (2010). Introduction to management science (10th Ed.). Upper Saddle River, NJ: Pearson/Prentice Hall...

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...QRB 501( Quantitative Reasoning for Business) All Week 1- 6 - Individual and Team Assignment and DQs Click Link below To Purchase: http://homework-aid.com/QRB-501-Quantitative-Reasoning-for-Business-All-Weeks-1-6-486.htm?categoryId=-1 QRB 501 Week 1 Individual Assignment - Order of Operations and Dependent and Independent Variables Individual Assignment: Order of Operations and Dependent and Independent Variables. Complete in one file please and title each response with the text, the chapter, and the question. This format applies to all assignments in subsequent weeks. • Complete the following order of operations questions: o McConnell & Brue text • Ch. 7, study question 12 • Ch. 8, study questions 2 and 11 • Ch. 20, study question 2 • Ch. 22, study question 7 o Marshall, McManus, & Viele text • Ch. 3, exercise E3.6 • Complete the following dependent and independent variables question from the Horngren text: o Ch. 2, question 2B2 QRB 501 Week 2 Individual Assignment - Levels of Measurement, Simultaneous Equations, and Time Series Individual Assignment: Levels of Measurement, Simultaneous Equations, and Time Series. Complete in one file please and title each response with the text, the chapter, and the question. Individual Assignment: Levels of Measurement, Simultaneous Equations, and Time Series • Complete the following levels of measurement question from the Lind, Marchal, &......

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...QRB 501 (Quantitative Reasoning For Business) Entire Class IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/QRB-501-Quantitative-Reasoning-For-Business-Full-Class-A-5435454.htm If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com WEEK 1 Week 1 Summary Week one was an eye opener for me, after being out of contact with mathematical equations since my last statistics class a refresher week is just what I needed. My main focus was correctly following the order of operations while solving equations. During our practice quiz in MyMathLab I quickly realized I was doing something wrong. After checking with our text book I found out I was not following the correct format when I was addressing the equations. Division is first, then anything in the parenthesis and then from left to right (I hope I got this right). This week also help me better understand the formulation for simple interest, rate of return on assets (ROA), the components of the GDP equation as well as how inflation rates are determined and the equation to find them. All in all this week has been filled with excitement, wonder and refreshment for myself and I hope the next 5 weeks keep up the same pace. I enjoy learning mathematical equations, terms and trying to apply what I have learned. I might not be the brightest when it comes to math but I will give it my all. Week 1 DQ 1 The purpose of this DQ is to provide more information on......

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...QRB 501 (Quantitative Reasoning For Business) Entire Class IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/QRB-501-Quantitative-Reasoning-For-Business-Full-Class-A-5435454.htm If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com WEEK 1 Week 1 Summary Week one was an eye opener for me, after being out of contact with mathematical equations since my last statistics class a refresher week is just what I needed. My main focus was correctly following the order of operations while solving equations. During our practice quiz in MyMathLab I quickly realized I was doing something wrong. After checking with our text book I found out I was not following the correct format when I was addressing the equations. Division is first, then anything in the parenthesis and then from left to right (I hope I got this right). This week also help me better understand the formulation for simple interest, rate of return on assets (ROA), the components of the GDP equation as well as how inflation rates are determined and the equation to find them. All in all this week has been filled with excitement, wonder and refreshment for myself and I hope the next 5 weeks keep up the same pace. I enjoy learning mathematical equations, terms and trying to apply what I have learned. I might not be the brightest when it comes to math but I will give it my all. Week 1 DQ 1 The purpose of this DQ is to provide more information on......

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...Business Ethics and Ethical Reasoning Managers are faced with daily decisions to ensure that they are leading by example in their managerial position. Managers must make sure their actions are fair, honorable, and reasonable to employees and customers is the groundwork of good ethical decision making. In today’s society ethical issues are becoming extremely complicated because of global and diversification in corporations. A broad explanation of diversity stems from personality and work style to all the visible dimensions such as age, race, ethnicity, or gender and to also to be influenced by religion, social economics and education (Lockwood, 2005). In this paper, I will describe moral and ethical issues faced by managers; explain the relationship between social issues and ethically responsible management practices apply to diversity; an example of a workplace diversity ethical dilemmas and the legal aspects management face while dealing with the issue. In addition to legalities governed or should be governed. Managers have a reasonable ethical duty to uphold the policy and the procedures of the company, so their ethical and morality is essential to employees. Managers are faced with various issues such as: diversity, work ethics, and discipline. However, diversity plays a major role in how an organization which can exemplifies that they are a company that can be open to an assortment of employees within the organization. According to Thomas (1992), dimensions of workplace...

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...QRB 501 (Quantitative Reasoning For Business) Entire Class IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/QRB-501-Quantitative-Reasoning-For-Business-Full-Class-A-5435454.htm If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com WEEK 1 Week 1 Summary Week one was an eye opener for me, after being out of contact with mathematical equations since my last statistics class a refresher week is just what I needed. My main focus was correctly following the order of operations while solving equations. During our practice quiz in MyMathLab I quickly realized I was doing something wrong. After checking with our text book I found out I was not following the correct format when I was addressing the equations. Division is first, then anything in the parenthesis and then from left to right (I hope I got this right). This week also help me better understand the formulation for simple interest, rate of return on assets (ROA), the components of the GDP equation as well as how inflation rates are determined and the equation to find them. All in all this week has been filled with excitement, wonder and refreshment for myself and I hope the next 5 weeks keep up the same pace. I enjoy learning mathematical equations, terms and trying to apply what I have learned. I might not be the brightest when it comes to math but I will give it my all. Week 1 DQ 1 The purpose of this DQ is to provide more information on......

Words: 3229 - Pages: 13

Words: 3229 - Pages: 13

Words: 3229 - Pages: 13