Based on your knowledge of the following four (4) risk models: Standard Risk Model, , Simple...

Based on your knowledge of the following four (4) risk models: Standard Risk Model, , Simple Risk Model, Cascade Risk Model and Ishikawa Risk Model, Discuss the use of risk models. Which ones do you think are the most useful? Are there other risk models you've known or applied in your work to appreciate? If so, please discuss.

Expert Solution

Use of risk models are for identifying the risk and its influence on the work, organisation or business. Risk models identify the source of risk, its impact and defining measures for preventing the risks or taking corrective measures. The most useful risk model is Ishikawa model of risk management. The Ishikawa model identifies different sources of risk, the effect they have in different ways on the organisation or a project, finding preventive measures to avoid any harmful consequences from the risk and corrective measures if the risk event occurs. Risk models that have been applied at workplace are Cascade model with identification of risk, its influence on the project and its consequences on the project outcomes. It is used for doing risk analysis for understanding the effect of the risk and ways in which they can effect any task, project or business. Environmental risks are an example that can lead to lower sales of a product leading to less revenue and additional costs for selling the product.

keosha answered 2 years ago

4. Compare the preceding four simple linear regression models to determine which model is the preferred...

4. Compare the preceding four simple linear regression models to determine which model is the preferred model. Use the Significance F values, p-values for independent variable coefficients, R-squared or Adjusted R-squared values (as appropriate), and standard errors to explain your selection. 5.. Calculate the predicted income of a 45 year old, with 18 years of education, 2 children, and works 40 hours per week using your preferred regression model from part 4. INCOME AGE EARNRS EDUC CHILDS HRS1 500 27...

Answer to the following questions based on your knowledge and understanding of the Solow Growth model....

Answer to the following questions based on your knowledge and understanding of the Solow Growth model. (a) What are the equilibrium conditions of the Solow Growth model? How can it be used for policy analysis? (b) Define the steady-state equilibrium conditions of the Solow Growth model. In addition, supposed global warming speeds up the depreciation rate of capital. What will happen to the steady-state conditions of this model (will they rise, fall, or state unchanged)? The justification of your answer...

Describe the audit risk model (RMM: risk of material misstatement model) based on your own understanding...

Describe the audit risk model (RMM: risk of material misstatement model) based on your own understanding and explain the each term (factor) in the model in terms of how each factor affects to the overall audit risk (increase or decrease) and amount of audit evidence (nature, timing, and extent of eviden Describe its interrelationships among each of FOUR factors of the risk model; inherent risk, control risk, and detection risk at an acceptable audit engagement risk level. ( directly proportional...

For a value-based purchasing model- Identify examples of shared risk models, such as population health. Analyze...

For a value-based purchasing model- Identify examples of shared risk models, such as population health. Analyze budgetary and financial implications of shared risk models on health care management practices and decisions.

Elaborate the FOUR (4) assumptions of CAPM model in measuring risk and return with a suitable...

Elaborate the FOUR (4) assumptions of CAPM model in measuring risk and return with a suitable example.

Based on your knowledge of the use of ratios in healthcare, concisely discuss four reasons why...

Based on your knowledge of the use of ratios in healthcare, concisely discuss four reasons why healthcare managers need to understand and use this financial analytical tool in their work.

Consider the classical model, standard model, the models with external economies of scale, the model with...

Consider the classical model, standard model, the models with external economies of scale, the model with external and internal economies of scale (heterogenous firms). Assume that there are only two countries and two products in this model. A) List the models that predict that world prices are going to be less than autarky prices should countries in our model open up to trade B) List the models that predict that trade would lead to a productivity gain. Make sure that...

Dartmouth Corporation manufactures two models of office chairs, a standard and a deluxe model. The following...

Dartmouth Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Number of Number of Number of Product Setups Components Direct Labor Hours Standard 15 9 300 Deluxe 31 20 235 Overhead costs $78,200 $89,900 Number of setups and number of components are identified as activity-cost drivers for overhead. Assuming an activity-based costing system is used, what is the total amount of overhead costs assigned to the standard model? A) $87,500 B) $114,700 C) $80,600 D) $84,050

Comfort Corporation manufactures two models of office chairs, a standard and a deluxe model. The following...

Comfort Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Number of Number of Number of Product Setups Components Direct Labor Hours Standard 12 8 255 Deluxe 28 12 245 Overhead costs $52,000 $78,000 3) Assume a traditional costing system applies the overhead costs based on direct labor hours. What is the total amount of overhead costs assigned to the standard model? A) $65,700 B) $63,600 C) $66,300 D) $66,700 4) Assume a traditional costing system applies the overhead costs...

Penty's Fine Furniture manufactures two models of chairs, a standard and a deluxe model. The following...

Penty's Fine Furniture manufactures two models of chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Standard Deluxe # DL Hours 924 930 # Set Ups 28 62 # Components 5 8 Total estimated manufacturing overhead for the period is $860,000. Penty's currently uses a volume-based costing system with direct labor hours as the only cost driver. a. Calculate the amount of manufacturing overhead allocated to each product under a traditional volume-based system....

Question