Chapter 5 DEMAND ANALYSIS QUESTIONS & ANSWERS Q5.1 Q5.1 Is the economic demand for a product determined solely by its usefulness? ANSWER No‚ two basic conditions must be met before economic demand is created. First‚ there must be value associated with acquiring and using the good or service. For individuals‚ this value is in terms of utility‚ well being‚ or satisfaction through consumption. For firms‚ this value is measured in terms of the profit created through resource employment. Second‚ there
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MBA MANAGERIAL ECONOMICS Arcadia IMBA Module 2 University Wide Individual Assignment (UWIA) 12th July 2013 PROBLEM SET #1 1. Complete the following table and answer the accompanying questions. a. At what level of the control variable are net benefits maximized? Net Benefit is also profit. The formula for this is MB = MC. As seen in the table completed above‚ after applying the formula then net benefit is maximized where Q = 106. b
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different leadership styles as per Managerial – Leadership Grid Theory. Answer: The Managerial Grid was the original name which was the modifications were made by Robert R Blake and Anne Adams McCanse. After the modifications it was named as Leadership Grid. Figure: Leadership Grid Leadership Grid – an approach to understanding a leader’s concern for results (production) and concern for people The five major leadership styles specified as per Managerial – Leadership Grid Theory: 1. The impoverished
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Question 3: Applications of Applied Anthropology The direction of this paper will be discussed in sections according to objective description. Each section will analyze and discuss the following objective via personal experience‚ class discussion‚ or referenced by textbook. Objective 1: At the end of the course you will better understand the role of the clinical anthropologist in the workplace and how the discipline of anthropology contributes to the real world. The course well-addressed
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effective educational approaches or combination of approaches that teach skills which allow individuals with a extensive developmental disorder to develop to their fullest potential. Research by Watling and Schwartz (2004) discusses the fulfilment of Applied Behavioural Analysis (ABA) as an appropriate educational mechanism for individuals with disabilities which rely on the principles of B.F. Skinner and behaviourism. For autistics‚ learning occurs only when demands are carefully structured‚ repeated
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Behavior therapies may vary depending on the case. When he speaks of children with a disability development refers to the Applied Behavioral Analysis (ABA). The behavior analysis has been applied in various areas‚ ranging from special education‚ therapy of psychological disorders‚ and even in the organization of companies. The origin of behavior analysis comes from the years 50 and 60‚ with analysts such as Donald Baer and Montrose Wolf (Alberto & Troutman‚ 2012). Later in the years 60 and 70‚ becomes
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Chapters 1-3:In order to control costs‚ a company wishes to study the amount of money its sales force spends entertaining clients. The following is a random sample of six entertainment expenses (dinner costs for four people) from expense reports submitted by members of the sales force. $157‚ $132‚ $109‚ $145‚ $125‚ $139. Calculate the mean and sample variance(s^2) and standard deviation. Mean = 807/6 = 134.5. Sample Variance = (109925 – (807^2/6)/6-1 = (109925 – 108541)/5 = 1384/5 = 276.8.
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1. The three components of leadership are: 1.) influencing others‚ 2.) providing direction‚ and: ***getting voluntary acceptance 2. Comparing an organization’s strengths and weaknesses with its competitors is part of: PG 435 Not Self Assessment ***Competitor Analysis 3. Staff scheduling using information technology is only applicable to large organizations. ***False 4. When compared to public relations‚ marketing is: PG 430 Not Broader in scope 5. Which of the following types of
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Hypothesis: Ho: P = .10 (Mr. Plex and consortium will seriously consider settlement) H1: P < .10 (Mr. Plex and consortium will rigorously defend any lawsuit by Tommy) Analysis： For this case‚ we use 0.01 as the significance level. In a hypothesis test‚ a Type I Error occurs when the null hypothesis is rejected when it is in fact true. That means if the consortium decides to consider a settlement when greater than 10% of the patrons resented ads/commercials is true and we reject the null hypothesis
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Practice Problems 1-KEY 1. The closing stock price of Ahmadi‚ Inc. for a sample of 10 trading days is shown below. Day Stock Price 1 84 2 87 3 84 4 88 5 85 6 90 7 91 8 83 9 82 10 86 For the above sample‚ compute the following measures. a. b. c. The mean = ∑X/n = 860/10 = 86 The median = (85+86)/2 = 85.5 The variance = ∑ X - X 2/ n-1 = {(84-86)2 + (87-86)2 + (84-86)2 + (88-86)2 + (85-86)2 + (90-86)2 + (91-86)2 + (83The standard deviation = √8.89 = 2.98 The coefficient of variation = 2.98/86 * 100%
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