Week 8: Predict Your Salary

1. Suppose you went to the Bureau of Labor Statistics web site and found several predictors of your salary. State three possible predictors and a simulated multilinear regression equation along with their p-values. What do your p-values tell you about your predictors?
2. How does multilinear regression analysis apply to your profession as a supply chain business analyst? Specify the dependent value and the set of predictors. Where would you get your data?

Explain how local public schools are funded and how other levels of government (state, federal) contribute to K-12 educational funding. In your opinion, is this a fair system? If not, please state how this can be changed?

You are the Administrator of the Radiology Department responsible for the day to day operation as well as developing the capital budget. Your capital budget for fiscal year 2015(July 1, 2014 to June 30, 2015)is $1 million. You have received two capital requests. One from the Medical Director of Mammography requesting a new state of the art digital mammogram machine at the cost of $800,000. This department has won awards for its outreach to poor and low income women who otherwise would not have access to mammograms. The second request is from the Medical Director of the MRI Department requesting a state of the art open MRI eliminating fears patients have going into the MRI tube. The cost of the new MRI is $800,000. Both machines run faster, produce clearer films , meet all safety / radiation emission standards and can get the patient in and out faster resulting in enhanced patient satisfaction.

1. Identify the problem/issues you face? Be specific and direct in outlining the issues/problems.

2. Referring to the Chapter on Managing Costs and Revenues what method will you use to base your decision?

3. What additional data/information will you need before making the decision ?

4. What challenge do you face once a decision is made? Will you have to explain or justify your decision to the Medical Directors of the departments?

5. In your discussion refer to the text, quote directly from the text to substantiate , expand your discussion and to demonstrate your understanding of the concepts/strategies described especially in Chapter 11 and 13. Include concepts learned in Leadership and Motivation -- what leadership or motivation strategy will you use to most effectively manage this real life situation? Be specific.

6. What is your final decision?

1. Explain what your project is about.

1. How did you collect your data? Why is it a good representation of the relationship between the two variables?

1. Use Excel to create a least squares equation.

1. Use Excel to get a regression readout. Is there a relationship between the variables? Explain.

1. What is the slope of your least squares equation and what does it tell you?

1. What is the 95% confidence interval given in the Excel readout for your independent variable? What does it tell you?

1. Find the r-square value. What do this value tell you?

1. Show one example using your least squares equation to calculate and predict a value for the dependent variable. (This is similar to what I did in my example when I used the equation to predict the cost for a home with 3500 sq ft.)

1. Create a 95% confidence interval for the mean value of y and a 95% prediction interval for an individual new value of y and interpret these intervals.

The following data were collected from a repeated-measures study:

Determine if there are any significant differences among the four treatments. Use a .05 level of significance.

Remember to;

1) State the null hypothesis,

2) Show all of your calculations,

3) Make a decision about your null hypothesis,

4) Make a conclusion including an APA format summary of your findings (include a measure of effect size if necessary), and

5) Indicate what you would do next given your findings.

Scenario:
You are the member of a student organization at Northeast State University which works to provide professional development opportunities for students. You saw an interesting article in a college magazine describing a “Suitable Suits” program another university implemented. Its career development office kept a closet with 21 crisp black suits of all sizes that students could borrow for job interviews. Students would make an appointment with the office and agree to dry clean the suits before returning them. The program at that university was paid for by a grant. Your student organization believes this would be a good program to implement at Northeast State and should be housed in the Career Services office.

Instructions:
Write a thorough letter to Ginger Martin, Director of Career Services, to persuade her to consider implementing a “Suitable Suits” program in the Career Services office. Think about what you are asking her to do, consider any objections she may have, anticipate her questions, make a strong case, consider what persuasion strategy you want to use, determine how to gain her attention and build interest, plan on how to reduce resistance, consider a motivating action.

Format the letter based on the guidelines discussed in the lesson or refer to Appendix A of your textbook. The letter should include the following guidelines:

Include a page header with your organization’s name and address

The address to your organization is NSU Box 321, University City, CO 45612

Send the letter to Ms. Ginger Martin

Her address is NSU Box 654, University City, CO 45612

Include the date

Include the inside address (who it is addressed to)

Include a salutation

Include an appropriate subject line

Include a complimentary closing

Include your printed name and title

Use all of the correct spacing between each component

Use a 1-inch margin, 12-point font, Times New Roman

Use correct spelling and grammar

Calculate a price index for 2018, 2019, and 2020 using the following information about prices. Let the market basket consist of the price of one pizza pie, two sodas, and four caffe lattes. Let the year 2018 be the base year (with an index value of 100). See the instruction video, "inflation.ppsm".

A. Calculate the price index for each year. To compute the price index for each year, you must first compute cost of market basket for each year (Show mathematical steps in detail to receive full credits).

B. How much inflation occurred between 2018 and 2019? Between 2018 and 2020? In other words, what is the change in the price index between 2018 vs 2019 and 2018 vs 2020?

1. Show mathematical steps in detail

2. interpret what the computed numbers (inflation rate) indicate in detail

Explain what is happening to your body with coronavirus. Explain what happens from the time you breathe in an air droplet to when it causes organ failure.

Hi Max. You brought up a fantastic point about internal controls! Section 404 is probably the most infamous section of the Act. It required management to perform an in-depth assessment of their internal controls and required the external audit firm to issue an opinion on management's assessment. This section was met with great opposition in the corporate world due to the cost implications. That's one aspect of Sarbanes-Oxley that is often ignored in discussions. For most large companies to comply, it was extremely costly - as in millions and millions of dollars!

Class, do you think there was any way to meet the same objectives but with a reduced cost? Why or why not?