Q.5 Solution Bill Denomination (X) Number of Bills (f) X*f X2*f $1 520 520 520 $5 260 1‚300 6500 $10 120 1‚200 12000 $20 70 1‚400 28000 $50 29 1‚450 72500 $100 1 100 10000 Total 1000 5‚970 129520 a. b. c. The probability that a bar containing $50 or $100 bill is purchased is 30 / 1000 = 0.03 Hence customer have to buy 100 bars of soap‚ so that he or she has purchased three bars containing a $50 or $100 bill. d. Given n=1000‚ E(X) = 5.97‚ SD(x) = 9.68912
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benefits. This essay aims to address whether cost-benefit analysis is a legitimate tool and what role‚ if any‚ it should play in moral deliberation‚ especially when placing a monetary value on a human life. It also questions what responsibilities Ford had to its customers and what moral rights were in operation‚ as well as whether it would have made a difference if Ford customers knew about the decision. Discussion Cost-Benefit Analysis‚ is a systematic process for calculating and comparing benefits
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Ethical Decision-Making Model Paper Athena Falconer COM/450 Ethics and Communication January 19‚ 2014 University of Phoenix Courtney Shobert BAAG1FHV59 Ethical Decision-Making Model Paper Ethics are not gained in one day. Ethics are built over time from experiences. From childhood to adulthood these learned behaviors add to traits that help shape an individual; they complete who one is and what one believes. Ethics guides individual’s understandings of the concepts of right and wrong. In everything
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Organizational Culture and Ethical Decision Making. Corporate culture can be defined as a set of beliefs‚ values‚ goals and norms that help employees solve organizational problems of any given organization whether profit motivated or non-profit ones (Ferrell and Fraedrich‚ 2014 p. 184). This includes behavioral patterns‚ rituals‚ ceremonies and even concepts that help run the daily routines of an organization. Organization culture can have major influences on organizational ethical decision making. According
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Introduction Explores the ethical works of Hannah Arendt What Guides Ethical Decision Making A processor manufacturing company who are currently facing financial troubles completed an order about three months ago for newly designed high-powered processors that are smaller than and four times as powerful as its predecessor. These processors are to be placed into cutting edge cellular phones by a leading cellular phone manufacturer whose release date is a mere month away. A design inconsistency was
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Ethical decision making model Ethical decision making model has three components namely knowledge‚ skill‚ and attitude. When an ethical dilemma is presented to nurse both nursing and ethical knowledge are activated . The initial primary concern of the nurse is to understand the nature of the nursing problem. When the nursing problem is clarified‚ the nurse proceeds to consider the ethical aspects of the case( Harasym ‚2013). . Figure (3) Harasym
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The idea of groupthink does not have a positive meaning because decision making is hard to do as a group; it is damaged group burdens that lead to a worsening of “rational effectiveness‚ truth analysis‚ and ethical decision”. Groupthink happens when groups are extremely organized and when they are under significant stress to make a valuable choice (Janis‚ 1972). A group is particularly weak to groupthink when its participants are alike in training‚ when the group is separated from outer ideas‚ and
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is not without its human rights‚ ethical and legal contexts and issues and effectively working with them is pivotal to safe and empowering practice. This practice includes creating appropriate and extensive care plans‚ which work with the available resources and exhibit understanding of the contexts and issues. Daniel aged 20 has presented at Golden City Psychiatric Services in Bendigo in his first admission in a very depressed and uncommunicative state. The ethical dilemma for Daniel using the ‘Inclusive
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(1) Decision-making strategies (2) (a) Decision-making (b) Heuristics‚ Cognitive Processes (3) American Psychologist Association (4) Nonrational Processes in Ethical Decision Making. Volume 66 no. 7 (5) Mark D. Rogerson‚ Michael C. Gottlieb‚ Mitchell M. Handelsman‚ Samuel Knapp‚ Jeffrey Younggren. (2011). American Psychological Association. Nonrational Processes in Ethical Decision Making‚ 66(7)‚ 614 – 623. (6) The purpose of this study is to find a way for ethical decision
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your dad get his pilots license and take you up flying. That’s exactly what got Jason Farwell into aviation. Jason is a certified flight instructor for airplanes. We talked about ethical decisions and how they can affect other people view of the aviation community. Both of us agreed that everyday people have to make an ethical choice to continue to work towards the pilot rating and still have enough money to pay their bills. He said‚ “It’s tough to watch people give up on their dream of flying because
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