The CVS Pharmacy located on US 17 in Murrells Inlet has been one of the busiest pharmaceutical retail stores in South Carolina for many years. To try and capture more business in the area, CVS top management opened another store about 6 miles west on SC 707. After a few months, CVS management decided to compare the business volume at the two stores. One way to measure business volume is to count the number of cars in the store parking lots on random days and times. The results of the survey from the last 3 months of the year are reported below. To explain, the first observation was on October 2 at 20:52 military time (8:52 p.m.). At that time there were four cars in the US 17 lot and nine cars in the SC 707 lot. At the 0.05 significance level, is it reasonable to conclude that, based on vehicle counts, the US 17 store has more business volume than the SC 707 store?

1. State the decision rule: H₀: μ _{US 17} − μ _{SC 707} = μ_d ≤ 0  H₁: μ_d > 0. (Round your answer to 3 decimal places.) Reject H0 if t >:

2. Compute the value of the test statistic. (Round your answer to 3 decimal places.)

3. What is your decision regarding H₀?

• Reject H₀

• Do not reject H₀

Using your knowledge of the progression and stages of Alzheimer’s disease identify possible safety issues that may arise for persons diagnosed and their family members in the middle, and late stages of the disease.

Please provide your analysis by the end of the day on Weds and your assigned response by the end of the day on Friday.

For your assigned scenario analysis (identified below ) please discuss:

• the main safety issues you identify
• the possible implications of the situation and challenges for the person with dementia in terms of transition points and decisions to be made
• the possible implications for the caregiver(s)/family member(s) in the scenario

Once your group members have provided their responses, for your assigned SCENARIO response (identified below) discuss:

• resources/strategies that you think may be useful to the caregiver and/or person with dementia in this situation
• barriers that may exist that could prevent the use of these resources/strategies

Scenario 1

Your Mom has AD and lives alone. She manages fairly well now you have disabled the stove etc. and you visit each day on your way home from work to prepare her meals and help with medications etc. Then you go home to cook for your husband/wife and three teenagers. However, late at night Mom often thinks someone is trying to break into her house. Understandably she gets very agitated and calls the police – this happens several times a week.

Analysis:

Response:

Scenario 2

Your Dad was diagnosed with Alzheimer’s disease three years ago and has been doing very well. Your Mom is reluctant to discuss any problems they may be having and says everything is “fine.” One of your Dad’s past co-workers (he retired 10 years ago) has told you that your Dad was sitting in the car in the parking lot of his former work last week and they had to drive him home to your Mom.

Analysis:

Response:

Scenario 3

You live with your spouse who was diagnosed with dementia several years ago. Your adult son lives with you and works second shift and often overtime too. You have help during the day (home care for 3 hours x3/week). However, the nights are becoming difficult as your spouse does not seem to wish to sleep. He gets up and walks around the house and is sometimes disorientated when trying to find the bathroom

Analysis:

Response:

Scenario 4

Your Mom lives 150 miles away and has been becoming increasingly frail and forgetful. She has lived in the same neighbor since she got married and has many close friends. The Pastor from her Church (two block-walk away from her house) called you to say your Mom arrived at Church ready for service but on the wrong day!

Analysis:

Response:

The legislature of Washingboard State adopted this statute:

There is hereby created a Power Line Routing Commission (PLRC) which shall have the authority, following public hearing and the development of an environmental and health-impact assessment, to recommend the best the location of new electrical transmis­sion corridors in this state. The Commission's action may be appealed to the PLRC Hearings Board in the state capital, and then to the Superior Court. Otherwise, the decision will be referred to the Governor’s office for consideration.

The PLRC was formed, studied power line routes, did an environ­mental and health assessment and held two public hearings. It determined that a new line should run through Hapless Valley, and that the rear access and freight-loading road leading to the back of Dubious' Used (and New!) Cars (his property) would unacceptably close to the proposed power-line corridor. It notified Dubious that this road would be closed.

He complained to the agency; a spokeswoman came to his business to chat about it. She said, “Well, just build a new access road around the side of your building--it won't cost you much.”

Meanwhile, the residents of Hapless Valley organized Residents Against Transmission Systems (RATS). Concerned about the health effects of living near high-voltage power lines, they threaten suit in Superior Court. They presented no evidence that power lines pose any threat to health.

At the public hearings, residents also complained about the through-transmission of foreign electricity (that is, transmission of electricity not generated or used within the state). They said it was bad enough to have to live near power lines, worse that the electrically coursing overhead was on its way to California. The PLRC issued a regulation banning the through transmission of electricity and mandating that only electricity for use in-state be transmitted through populated areas.

Dubious (a citizen of Washingboard) said to one of his friends in RATS: “Oh, there’s no problem with high-powered electrical transmission lines! Shoot, I was in San Francisco, California, last week and at a little local Health-Supplement Company there I bought these pills for $20: guaranteed to protect against electrical radiation by recalibrating the body’s reducto-electrical pathways. I’m taking one right now!” And he did. Ten minutes later he was sick: throwing up and watering at the eyes, and cramps. The pills were just pepper and caffeine.

1. Dubious doesn't want the back-access road closed. What arguments, if any, can he make to oppose the agency's action here?    

2. RATS sued in Superior Court to overturn the routing decision, claiming it was “ill-advised”; the better place would along Sullen Valley, two miles south, where there are many fewer houses.

            (a) Do they have standing to sue? Explain.

            (b) Assuming so, would the court agree with them that the agency's decision is "ill-advised" and overturn it? Explain.

1. You are given a choice between a Koenigsegg CCXR Trevita (with a purchase price of $4.8m) or Cheesecake made by Professor Marks’s wife, Lynne.  Ignoring everything else, you decide on the Cheesecake.  What is the opportunity cost of such selection in dollar terms?

2. Congratulations, you have three job offers.  The first job pays $72,500 / year; the second job pays $58,000 / year; and the third job pays $35,000 / year.  What is the opportunity cost for the first job?

3. Suppose you are in charge of setting prices for parking permits.  Evaluate the following data:

The Quantity Demanded for Parking Permits at $100 is 12,774; and

The Quantity Demanded for Parking Permits at $200 is 7,265.

4. Suppose you are in charge of setting prices for parking permits.  Evaluate the following data:

The Quantity Demanded for Parking Permits at $100 is 12,774; and

The Quantity Demanded for Parking Permits at $200 is 7,265.

Calculate the mid-point elasticity of demand to two decimal places.

Should you increase the price:

5. Can raising the price be considered good in the following situation:  Local businesses in reaction to a natural disaster raise prices.  As a result of this situation, some people buy several generators and then drive hundreds of miles and sell those generators at twice the price.

6. Laura Joffee Numeroff, If You Give a Mouse a Cookie, introduces to children an economic concept that impacts our lives.  Read the following excerpt:  “If you give a mouse a cookie, . . . He’s going to ask for a glass of milk . . . When you give him the milk he’ll probably ask you for a straw . . . When he’s finished, he’ll ask you for a napkin."

Assume the price of cookies decreases:

7. Laura Joffee Numeroff, If You Give a Mouse a Cookie, introduces to children an economic concept that impacts our lives.  Read the following excerpt:  “If you give a mouse a cookie, . . . He’s going to ask for a glass of milk . . . When you give him the milk he’ll probably ask you for a straw . . . When he’s finished, he’ll ask you for a napkin."

Assume the price of cookies decreases, what are the implications for Milk, which is a complementary good:

8. Laura Joffee Numeroff, If You Give a Mouse a Cookie, introduces to children an economic concept that impacts our lives.  Read the following excerpt:  “If you give a mouse a cookie, . . . He’s going to ask for a glass of milk . . . When you give him the milk he’ll probably ask you for a straw . . . When he’s finished, he’ll ask you for a napkin."

Assume the price of cookies decreases, what are the implications for Cupcakes, which is a substitute good:

Group of answer choices

Quantity Demanded for Cupcakes Increase

Demand for Cupcakes Increases

Quantity Demanded for Cupcakes Decrease

Demand for Cupcakes Decreases

Can someone provide me a feedback on the discussion post below. This is a marketing management class. Thanks

Company: Corral de Tierra Market

Size: Small, single counter convenience store

Number of locations: 1

What is the company’s pricing objective?

The company’s pricing objective is product-quality leadership. As Kotler and Keller (2016) state that, “many brands strive to be the “affordable luxuries” – products or services characterized by high levels of perceived quality, taste, and status, with a price just high enough not to be out of consumers’ reach” (p. 469). This is what Corral de Tierra Market strives to be. Corral de Tierra Market is essentially a convenience store market, but it is different than other convenience store models in the area for a few reasons. They offer higher end options in regards to wine selection and cheeses. They also offer chef made fresh delights for you to bring home for dinner in a grab and go style for busy weeknight dinners.

How sensitive are the company’s target customers to changes in price?

Because this business model is a convenience store model, it does have the target customers who are not there to get a deal or comparison shop. It is simply a mode of convenience. Because of that, it is apparent that the company’s target customers have a lower sensitivity to price changes. But, as the owner told me, “no matter what, you can’t make everyone happy all of the time.”

Do they have some target segments that are less price sensitive than others?

They definitely have some target segments that are less price sensitive than others. The customers that are interested in wines and cheeses are less interested in the price rather than having the availability of selection in an area when there is not very much to choose from. In regards to the take and go food, when these items increase in price it is a subject of unhappiness from customers sometimes. It is interesting to see that some items have this price sensitivity.

How much consideration does the company give to competitors’ prices when setting their own?

Corral de Tierra Market gives moderate consideration to competitors’ prices when settling their own prices. It is important to not have an outrageous gap between their pricing in comparison with the competition. But, again there is no other store that has a similar business model within 15-30 miles from them, giving them the upper hand when pricing.

What method of pricing do they use to arrive at the final price for the customer?

This was difficult to listen for without directly explaining what I was looking for. But, after having the owner explain how they did things for a bit, I came to the conclusion that they use target-return pricing. Kotler and Keller (2016) describe, “in target-return pricing, the firm determines the price that yields its target rate of return on investment” (p. 476). As with any small business, the return on investment is absolutely essential to its success. The owner re-evaluates pricing each year and adjusts to be sure he stays within a specific percentage range.

Learning Activity #1 38, 39…….whatever it takes. Bill lived in Stinko, a small, isolated town in south Texas, near the Mexico border. Bill was the manager of a factory that manufactured disposable drinking cups. The factory employed 150 people and was, by far, the largest employer in Stinko. Bill was married and the father of 3 teenage children. The plant ran well and Bill always achieved his production goals. However, one byproduct of one part of the manufacturing process was a very smelly, smoky residue emitted from the plant’s smokestacks. In addition to being smelly, the emissions had attracted the attention of the EPA. EPA tests had shown that the emissions contained excessive levels of sulfur. The EPA told Bill that if the emissions weren’t cleaned up, fines would be levied against the company. Bill talked to other plant managers within the company at other plant locations. All of them told him that they had found a way around the EPA testing by only producing the really stinky smoke at night. Since the EPA only tested during the day, they were getting away with it. Bill talked to his boss about some equipment that was available that would clean the emissions enough to pass the EPA tests but his boss said it was way too expensive to install. So, Bill did nothing and eventually got fined by the EPA. The fine was substantial. Bill’s boss told him that he better find a way to stop the fines or his job was in jeopardy. Bill received a call from the mayor of El Rancho, a small town just across the border in Mexico, about 20 miles south of Stinko. The mayor told Bill that if he moved the plant to El Rancho, he could emit as much stinky smoke as he wanted because El Rancho had no emission guidelines in place. The only catch was that Bill would have to employ only Mexican citizens from the town of El Rancho. However, due to the prevailing winds of the area, the stinky smoke would be carried directly north and would still affect the town of Stinko. Bill told his boss about the offer. The boss told Bill that it was his decision to make but that he better do something quickly if he wanted to keep his job. Bill’s kids were nearing college age and he needed his job. Bill knew that if he moved the plant to El Rancho that the emissions would still be polluting the atmosphere. He also knew that if he moved the plant that the town of Stinko would be ruined. The jobs of his friends and neighbors would be gone forever. But, his job would be safe. Make an ethical argument that Bill could use to justify moving the plant to El Rancho and make a separate ethical argument that Bill could use to keep the plant in Stinko. Make sure you consider the environment in both of your arguments.

In 1974, Loftus and Palmer conducted a classic study demonstrating how the language used to ask a question can influence eyewitness memory. In the study, college students watched a film of an automobile accident and then were asked questions about what they saw. One group was asked, “About how fast were the cars going when they smashed into each other?” Another group was asked the same question except the verb was changed to “hit” instead of “smashed into.” The “smashed into” group reported significantly higher estimates of speed than the “hit” group. You, as a researcher wonder if Loftus and Palmer’s study is reliable, and repeats this study with a sample of FIU students and obtains the following data.

Your job is to determine if smashed into group reports higher speed than hit group. As you work on this problem, make sure to provide information for each of the eight steps we cover in Chapter 11 (Salkind) as well as the APA write-up you would see in a results section.

1. State the null and alternative hypotheses
2. Tell me your level of risk
3. Determine the best statistical test to use
4. Determine the value needed to reject the null hypothesis. Remember to calculate the correct degrees of freedom before finding the critical t-value! Note whether it is best to use the one-tailed or two-tailed test.
5. Compare the obtained and critical value
6. Decide whether you will retain the null hypothesis or …
7. Decide whether you will reject the null hypothesis
8. Finally, write up your results as you would see it in a results section of an empirical research paper. Make sure to include the means and SDs for smashed into and hit group (in miles). I do NOT need to see the effect size (Cohen’s D)
9. Was your obtained t-value positive or negative? Would it matter either way? With your discussion group, tell my why a positive or negative value is not important when it comes to your obtained value
10. What is more appropriate to use for your data set: the one-tailed t-Test or the two-tailed t-Test. Why? Would your APA write-up differ depending on which you used?
11. Why would it be easier to find significance using a p value of .05 than a p value of .01?
12. Finally (and this is the tough one), how would your results have differed with regard to steps 4 through 9 if you had used n rather than n – 1?

10–4. Business Case Problem with Sample Answer— White-Collar Crime. Matthew Simpson and others created and operated a series of corporate entities to defraud telecommunications companies, creditors, credit reporting agencies, and others. Through these entities, Simpson and his confederates used routing codes and spoofing services to make long-distance calls appear to be local. They stole other firms’ network capacity and diverted payments to themselves. They leased goods and services without paying for them. To hide their association with their corporate entities and with each other, they used false identities, addresses, and credit histories, and issued false bills, invoices, financial statements, and credit references. Did these acts constitute mail and wire fraud? Discuss.

11–1. Doing Business Internationally. Macrotech, Inc., develops an innovative computer chip and obtains a patent on it. The firm markets the chip under the trademarked brand name “Flash.” Macrotech wants to sell the chip to Nitron, Ltd., in Pacifica, a foreign country. Macrotech is concerned, however, that after an initial purchase, Nitron will duplicate the chip, pirate it, and sell the pirated version to computer manufacturers in Pacifica. To avoid this possibility, Macrotech could establish its own manufacturing facility in Pacifica, but it does not want to do this. How can Macrotech, without establishing a manufacturing facility in Pacifica, protect Flash from being pirated by Nitron?

12–1. Unilateral Contract. Rocky Mountain Races, Inc., sponsors the “Pioneer Trail Ultramarathon,” with an advertised first prize of $10,000. The rules require the competitors to run one hundred miles from the floor of Blackwater Canyon to the top of Pinnacle Mountain. The rules also provide that Rocky reserves the right to change the terms of the race at any time. Monica enters the race and is declared the winner. Rocky offers her a prize of $1,000 instead of $10,000. Did Rocky and Monica have a contract? Explain.

12–5. Agreements That Lack Consideration. ArkansasMissouri Forest Products, LLC (Ark-Mo), sells supplies to make wood pallets. Blue Chip Manufacturing (BCM) makes pallets. Mark Garnett, an owner of Ark-Mo, and Stuart Lerner, an owner of BCM, went into business together. Garnett and Lerner agreed that Ark-Mo would have a 30-percent ownership interest in their future projects. When Lerner formed Blue Chip Recycling, LLC (BCR), to manage a pallet repair facility in California, however, he allocated only a 5-percent interest to Ark-Mo. Garnett objected. In a “Telephone Deal,” Lerner then promised Garnett that Ark-Mo would receive a 30-percent interest in their future projects in the Midwest, and Garnett agreed to forgo an ownership interest in BCR. But when Blue Chip III, LLC (BC III), was formed to operate a repair facility in the Midwest, Lerner told Garnett that he “was not getting anything.” Ark-Mo filed a suit in a Missouri state court against Lerner, alleging breach of contract. Was there consideration to support the Telephone Deal? Explain.

Human resource management activities like recruiting, selecting, training, and rewarding employees is not just a job for a centralized HR group for an organization, but is rather a concern for every manager and something they all should engage in. This is especially critical for small businesses where there is usually no specified HR staff to reply upon. The success of the entrepreneur is often dependent upon their effectiveness in recruiting, hiring, training, evaluating, and rewarding. Each week you will be given a case study to complete based upon a single company. The company is Laurel Laundry and is co-owned and managed by Erica Laurel.  

Laurel Laundry Services

Erica Laurel graduated from college in January, and, after considering several jobs and job offers, decided to do what she always planned to do - go into business with her father, Jack Laurel.

Jack Laurel opened his first coin laundromat in 1999 and his second in 2002. The main attraction of these coin laundry businesses for him was that they were capital - rather than labor intensive. Thus, once the investment in machinery was made, the stores could be run with just a single unskilled attendant and none of the labor problems one normally expects from being in the retail service business.

The attractiveness of operating with virtually no skilled labor notwithstanding, Jack had decided about 5 years ago to expand the services in each of his stores to include the dry cleaning and pressing of clothes. He embarked, in other words, on a strategy of "related diversification" by adding new services that were related to and consistent with his existing coin laundry activities. He added these for several reasons: he wanted to better utilize the unused space in the rather large stores he currently had under lease, he was tired of passing along profits to a dry cleaner 5 miles away. To reflect the newly expanded line of services, he renamed each of his stores Laurel Laundry Services and was sufficiently satisfied with their performance to open four more of the same type of stores over the next 4 years. Each store had its own on-site manager and, on average, about seven employees with annual revenues of about $500,000. It was this six-store chain that Erica joined after graduating.

Her understanding with her father was that she would serve as a troubleshooter/consultant to the elder Laurel with the aim of both learning the business and bringing it modern management concepts and techniques for solving the business's problems and facilitating its growth.

She is asking for your help. Acting as a consultant for Erica, prepare a report on the following:

1. List and describe several (at least 4) human resource management issues Laurel Laundry might encounter, either now or in the future?
2. Which of those concerns would you look to take on first and why?

Be sure to provide actionable suggestions to Erica while keeping in mind the costs associated with any suggestion made.

Nobody wants a nuclear power plant in their neighborhood. Unfortunately,

the governor must locate a nuclear power plant somewhere inside a 25 square

mile area containing four cities. The governor, being primarily concerned

with reelection, desires to locate the plant in the location which will

cause the least amount of unhappiness among the constituents. In this lab,

you will write a program to assist the governor in this difficult decision.

METHOD:

^^^^^^^

Assume each city is located in an integer-pair (x, y) valued location

within a 25 x 25 square mile area. For example, a city can be located at

(4, 19), but not at (4.5, 19.8). In other words, there are no real valued

coordinate for a location of a city.

Your program will consider each integer-pair valued location within the area

as a possible site for the nuclear plant, starting at (1, 1) and continuing

across each row until the final site (25, 25) is reached.

At each possible location for the nuclear plant, your program will compute

the average unhappiness if the plant were located there. The following two

rules will be used to compute the unhappiness for a city.

      1) If the plant is within two miles or less of a city, the

         unhappiness is infinite (that is, assign a very large number

                   to the unhappiness for that city).

                   2) Otherwise, the unhappiness is equal to the population of the

                      city divided by the distance of the plant from the city.

                      The average unhappiness equals:

                               Avg. Unhappiness = Sum of the unhappiness of 4 cities /

                                                                   The total state's population.

Your program should select the site at which the average unhappiness is

smallest.

INPUT:

^^^^^^

The user should be prompted to enter the x and y coordinates and the

population for each of the four cities from the keyboard. Each coordinate

should be checked to ensure it is between 1 and 25. If not, the user should

be prompted to enter a value which is in the correct range. The population

should be entered in thousands of people. For example, if the population

is 10,000, the user should input 10.

OUTPUT:

^^^^^^^

The program should print a message indication the coordinates where

the plant should be located. Following that message, the user should be

prompted to enter a 1 to view a map of the scenario or a 0 to exit the

program.

An Example Scenario:

Enter the x and y for City 1   : 1 1

Enter the Population for City 1: 10

Enter the x and y for City 2   : 1 25

Enter the Population for City 2: 10

Enter the x and y for City 3   : 25 1

Enter the Population for City 3: 10

Enter the x and y for City 4   : 25 25

Enter the Population for City 4: 10

**********

Locate the Plant At: 13 13

Enter 1 to view a Map of the scenario, or 0 to exit: 1

               MAP OF SCENARIO

                   ---------------   

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Note: The previous scenario is just an example, you need to create your own

test cases to make sure that your program produces the correct results.