Let's look at college students. The following table gives us data to examine the relation between age and full-time or part-time status. The numbers in the table are expressed as thousands of college students.
| College students by age and status | ||
| Status | ||
| Age | Full-time | Part-time |
| 15-19 | 3392 | 394 |
| 20-24 | 5240 | 1110 |
| 25-34 | 1717 | 1732 |
| 35 and over | 756 | 2058 |
(a) What is the estimate of the number of full-time college
students aged 15 to 19?
thousands of college students
(b) Give the joint distribution of age and status for this table.
(Round your answers to four decimal places.)
| Age | Full-time | Part-time |
| 15-19 | ||
| 20-24 | ||
| 25-34 | ||
| 35 and over |
(c) What is the marginal distribution of age? (Round your answers
to four decimal places.)
| 15-19 | |
| 20-24 | |
| 25-34 | |
| 35 and over |
Display the results graphically.
(d) What is the marginal distribution of status? (Round your
answers to four decimal places.)
| full-time | |
| part-time |
Display the results graphically.
6.
–/1.25 POINTSMBASICSTAT7 25.E.006.MY NOTESASK YOUR TEACHERThe popularity of computer, video, online, and virtual reality games has raised concerns about their ability to negatively impact youth. The data in this exercise are based on a recent survey of 14- to 18-year-olds in Connecticut high schools. Here are the grade distributions of boys who have and have not played video games.
| Grade average | |||
|---|---|---|---|
| A's and B's | C's | D's and F's | |
| Played games | 735 | 449 | 193 |
| Never played games | 205 | 144 | 80 |
The null hypothesis "no relationship" says that in the population of all 14- to 18- year-old boys in Connecticut, the proportions who have each grade average are the same for those who play and don't play video games.(a) Find the expected cell counts if this hypothesis is true, and display them in a two-way table. Check that the row and column totals agree with the totals for the observed counts. (Round your answers to two decimal places.)
| A's and B's | C's | D's and F's | |
| Played games | |||
| Never played games |
(b) Are there any large deviations between the observed counts and
the expected counts?
Yes, the observed and expected counts for played games and never played games in the A's and B's column are off by more than 15.Yes, the observed and expected counts for played games and never played games in the C's column are off by more than 15. Yes, the observed and expected counts for played games and never played games in the D's and F's column are off by more than 30.No, the observed and expected counts for played games and never played games in any column are off by more than 20.
7.
–/1.25 POINTSMBASICSTAT7 25.E.002.
In: Statistics and Probability
, include some additional detail about your client, how the stressors are affecting him, and how he has been coping with them.
THis is the case Studd
Joe is a 42-year-old male who is married for over 18 years to Marie. They have two children two boys ages 8, 11. Currently in the processing of getting divorced. His two children currently live with his wife and he does not see them. Which is hard for him not see them. He has been living with his mother and brother since being kick out of his home and is in process to finding other housing. Has been drinking a lot since this whole situation has happen. He has been thinking about Reheb to him stop drinking, and help with information to deal with stress.
Other information: Imprisoned for 3 DUIs for violating probation. He is currently working as a tire tech.
Present symptoms: Lack of self-control, aggressive attitudes, suffers from anxiety and depression, a dependency of alcohol, wide swing of emotion, reduced ability to concentrate, physical weakness, feeling of fatigue, emotional crash, shakiness, and memory lapses.
Diagnosis: Somatization disorder, imbalance in neurotransmitter, high blood pressure, a problem in the function of the central nervous system,and breathing problems.
Medicine: Wellbutrin XL (300 mg
Naltrexone
Treatment: Group psychotherapy, cognitive behavioral therapy, detoxification, providing vitamin supplementary. Maybe Reheb .
Joe is a 42-year-old male who is married for over 18 years to Marie. They have two children two boys ages 8, 11. Currently in the processing of getting divorced. His two children currently live with his wife and he does not see them. Which is hard for him not see them. He has been living with his mother and brother since being kick out of his home and is in process to finding other housing. Has been drinking a lot since this whole situation has happen. He has been thinking about Reheb to him stop drinking, and help with information to deal with stress.
Other information: Imprisoned for 3 DUIs for violating probation. He is currently working as a tire tech.
Present symptoms: Lack of self-control, aggressive attitudes, suffers from anxiety and depression, a dependency of alcohol, wide swing of emotion, reduced ability to concentrate, physical weakness, feeling of fatigue, emotional crash, shakiness, and memory lapses.
Diagnosis: Somatization disorder, imbalance in neurotransmitter, high blood pressure, a problem in the function of the central nervous system,and breathing problems.
Medicine: Wellbutrin XL (300 mg
Naltrexone
Treatment: Group psychotherapy, cognitive behavioral therapy, detoxification, providing vitamin supplementary. Maybe Reheb .
In: Psychology
Nick Leeson’s adolescence was spent at Watford, UK where he attended high school. After that, he began to work at Coutts & Company and then spent two years at Morgan Stanley, taking up a position as an operation assistant. The experience allowed him to become familiar with the financial markets. Leeson then joined Barings. Founded in 1762 by Johann Barings, the Barings Bank was part of England’s history and even the Queen of England was among its clients. Barings was later considered one of the most prestigious financial institutions in the world. Leeson quickly made an impression within the respected establishment.
In 1990, at the age of 25, Leeson was appointed manager of the Singapore operation to oversee the “futures” operation in SIMEX (Singapore International Monetary Exchange). Leeson quickly became a well-known operator of the derivative market on the SIMEX. From 1992, Leeson made trades that brought in huge contributions for Barings - up to 10% of the bank’s profits at the end of 1993. The profits instilled confidence in the directors who lacked knowledge in subtle trading techniques and financial markets. He became a star within the organisation, earning unlimited trust from the headquarters. He enjoyed unlimited freedom within the Singapore office: he was head of the dealing desk (front office) but he also supervised the back office.
Leeson was in fact losing money and was hiding his losses in an error account, Z88888. He claimed that the account had been opened in order to correct an error made by an inexperienced member of the team. At the same time, Leeson withheld documents from auditors of the bank. By the end of 1994, his total losses amounted to almost half of the capital of Barings. On January 16th, 1995, with the aim of "recovering" his losses, he took even more risky positions. However, the unexpected earthquake of Kobé shattered his strategy. As a result, the losses amounted to more than double the bank’s capital which the bank were unable to absorb. Leeson decided to flee Singapore and was later arrested in Europe. He was extradited back to Singapore and sentenced to 6.5 years of imprisonment. In March 1995, the bank was bought by a Dutch insurance company at a very low price.
1. Are there any problems with the internal control system of Barings? Explain.
2. Are there any problems with corporate governance in Barings? Explain.
3. What is risk management? Why is it needed? What should be the risk management strategy of an international bank like Barings?
4. What are the major risks faced by an international bank? What are the major risks involved in this case?
5. Explain risk appetite, risk tolerance and risk profile.
6. What are the responsibilities of the internal audit function regarding risk management? Who (or which function in an organization) should ultimately be held responsible for risk management in a listed company?
7. Outline the risk management regulatory requirements imposed to international banks after the Barings case.
In: Accounting
Hardware stores (excluding Lowe’s and Home Depot) in a large city would seem to be an example of a competitive market, since there are many sellers operating relatively small shops, each seller takes the price of hammers or nails as given, and the products (hammers, nails, etc.) are very similar between different shops.
PART ONE: How could you argue that the hardware store market is not competitive?
Select one:
a. Most hardware stores only serve clients who live or work relatively close by. A hardware store on one side of town usually does not attract clients who live or work many miles away on the other side of town. Thus, hardware stores tend to only compete with the relatively few other hardware stores that are nearby.
b. Each hardware store sells a very differentiated product to its customers, since it is rare that two customers are shopping for the exact same set of products (perfect substitute).
c. Many hardware stores may be locally-owned, but are franchises of a single major corporation. Thus, the market is not competitive since it is ultimately only served by one supplier.
d. Since hardware stores only sell physical or tangible items to customers, the prices charged are not constrained by market forces and can be unusually high or low.
PART TWO: Is it possible that each hardware store could face a demand curve that is not perfectly elastic?
Select one:
a. No; since clients are not willing to accept price changes for their hammers or nails from one month to the next (e.g., $15 hammer this month, $20 hammer next month, etc.), the price will remain constant in the long run and thus demand is perfectly elastic.
b. No; each hardware store in a large city is indistinguishable from the others (i.e., they are perfect substitutes), and so demand for any individual hardware store is perfectly elastic.
c. Yes; demand is only perfectly elastic if the demand curve is upward-sloping, and hardware store demand is downward-sloping.
d. Yes; if they have some degree of market power (e.g., they can charge slightly higher prices since customers will not stop at every hardware store in the city to find the cheapest price), then they will not face perfectly elastic demand.
PART THREE: How profitable do you expect hardware stores to be in the long run?
Select one:
a. Since they are usually very small, most hardware stores will be unable to compete with larger firms with higher fixed and variable costs. Hardware stores should expect losses in the long run.
b. Even with a small amount of market power due to attracting only local customers, it is still relatively easy to enter and exit the hardware store industry. Long-run profits will likely be driven down close to zero.
c. Improvements in inventory technology, and the difficulty of new entrepreneurs entering this market, will guarantee above-normal profits for hardware stores for the next few decades.
d. Hardware stores have the ability to set their own price above the market equilibrium price for a considerable length of time given their small size and the sheer number of other hardware stores. Most individual hardware stores will enjoy positive economic profit in the long run.
In: Economics
Question 1 a-c
Bookstores in a large city would seem to be an example of a competitive market, since there are many sellers operating relatively small shops, each seller takes the price of a particular book as given, and the products (books, magazines, etc.) are very similar between different shops.
Question a
How could you argue that the bookstore market is not competitive?
Select one:
a. Most bookstores only serve clients who live or work relatively close by. A bookstore on one side of town usually does not attract clients who live or work many miles away on the other side of town. Thus, bookstores tend to only compete with the relatively few other bookstores that are nearby.
b. Each bookstore sells a very differentiated product to its customers, since it is rare that two customers are shopping for the exact same set of products (perfect substitute).
c. Since bookstores only sell physical or tangible items to customers, the prices charged are not constrained by market forces and can be unusually high or low.
d. Many bookstores may be locally-owned, but are franchises of a single major corporation. Thus, the market is not competitive since it is ultimately only served by one supplier.
Question b
Is it possible that each bookstore could face a demand curve that is not perfectly elastic?
Select one:
a. Yes; demand is only perfectly elastic if the demand curve is upward-sloping, and bookstore demand is downward-sloping.
b. Yes; if they have some degree of market power (e.g., they can charge slightly higher prices since customers will not stop at every bookstore in the city to find the cheapest price), then they will not face perfectly elastic demand.
c. No; since clients are not willing to accept price changes for their books or magazines from one month to the next (e.g., $15 book this month, $20 book next month, etc.), the price will remain constant in the long run and thus demand is perfectly elastic.
d. No; each bookstore in a large city is indistinguishable from the others (i.e., they are perfect substitutes), and so demand for any individual bookstore is perfectly elastic.
Question c
How profitable do you expect bookstores to be in the long run?
Select one:
a. Even with a small amount of market power due to attracting only local customers, it is still relatively easy to enter and exit the bookstore industry. Long-run profits will likely be driven down close to zero.
b. Since they are usually very small, most bookstores will be unable to compete with larger firms with higher fixed and variable costs. Bookstores should expect losses in the long run.
c. Improvements in inventory technology, and the difficulty of new entrepreneurs entering this market, will guarantee above-normal profits for bookstores for the next few decades.
d. Bookstores have the ability to set their own price above the market equilibrium price for a considerable length of time given their small size and the sheer number of other bookstores. Most individual bookstores will enjoy positive economic profit in the long run.
In: Economics
“Making SMal Big: SMaL Camera Technologies” is an innovative product that made significant profits in the first year but then quickly was attacked by competitors. The evolution and technology of the product in detail. It ends with five different options for technological and business strategy, along with pros and cons of each strategy.
During the period of Carlyle's ownership, SMaL Camera Technologies, Inc. was a developer of CMOS imaging sensors and camera modules. In February 2005, the company was acquired by Cypress Semiconductor (Carlyle.com, n.d.). SMaL Camera Technologies has a turbulent technological aspect; the management made some bad decisions that caused in falling revenues due to lack of product marketing. Their marketing abilities were not correctly built, and instead, they decided against in-house manufacturing and distribution. Startups must be managed very differently, and their management has to make meaningful choices in the first few years of operation that determines the firm’s direction. Though startups are at a disadvantage (resources, visibility, and age) when it comes to commercializing a disruptive technology, they also have significant advantages over critical and stronger firms, who rarely go disruptive and prefer market-pull strategies. They can maintain low visibility till they have all the resources, manufacturing and distribution facilities in place, then hit the market; first entering a niche market making fewer profits and then going mainstream.
-The dream of annual
revenues past $100 million can dilute its research-oriented
approach to a market-oriented approach. The organization was
focusing more energies and resources on branding and promotion
without building their marketing capabilities. The
commercialization and launch of the product were not well executed.
The competitors jumped in before the company could start
consolidating making revenues. The options offered by competitors
had many new add-ons though was not as slim and small as the SMal,
the technology was superior regarding having better picture
quality, flash, etc.
-The SMal camera units were easily copied as many new competitors
quickly entered the segment within one year of its launch in the
market. SMal could not efficiently commercialize their product also
due to lack of marketing capabilities. They were also late in
giving the facilities which the competitors added to their products
as the competitors had the advantage of copying, improving and
adding innovations. The second year could not generate the same
revenues as the customers’ demands changed and the company could
not adapt fast enough due to lack of workforce and resources.
-Going to the CES show was a wrong decision as it got the
competitors on a high alert and they immediately starting
developing similar products. The option of maintaining low
visibility while they had consolidated their resources of
manufacturing and distribution should have been followed. They
should have done the market launch with full preparation and proper
market research.
-The strategy of having an external marketing setup did not go in
favor of SMal camera as it was not good for their brand image.
Further, the SMal had lost touch with the customer who wanted
better facilities like a flash and better quality of the picture
which was not possible with the current credit card size camera.
There go to market approach lacked the facility to get customer,
competitor and market feedback. The time lag to innovate and adapt
was slow due to lack of input and resources.
-The idea of having only external manufacturing facility again
created a negative for the organization as it was dependent on a
third party for its supplies, the technology became vulnerable and
accessible to the competitors, the external manufacturer cannot
innovative and has time lags so new ideas could not be executed
immediately.
CES 2001: The Ultra-Pocket credit card sized digital camera from SMaL Camera Technologies is just 6 mm thick, it can take VGA (640 x 480) images and can be connected to a PC via a USB cable. Other features include a viewfinder, rechargeable battery, 35mm (equiv.) F2.0 fixed lens, and MMC card storage (8 MB supplied). Oh, and it weighs just 63 g (2 oz).
LAS VEGAS, NEVADA, USA – January 6, 2001 – SMaL Camera Technologies, Inc., a developer of low power CMOS imagers and intelligent cameras for a variety of markets, including low cost consumer cameras, handheld electronics, intelligent transportation systems, and surveillance, introduced today at the International Consumer Electronics Show 2001 in Las Vegas, Nevada the Ultra-Pocket™, a digital still camera that re-defines the affordable, compact digital camera.
The Ultra-Pocket is the perfect entry-level digital camera for individuals and families who desire a true pocket camera without sacrificing affordability and quality. "When people see and use the Ultra-Pocket, it is common for them to react with a 'Wow!' at least twice," said Keith Fife, Vice President, Engineering, SMaL Camera Technologies. "The first 'wow' is a reaction to the camera's ultra-thin size – literally the size of a credit card and only 0.2" (6 mm) thin. The second occurs when they see how the Autobrite™ technology clearly captures the dark details of a scene while ensuring that the bright regions never saturate."
The Ultra-Pocket boasts durability and a sleek silver contour. Its VGA resolution (300,000+ pixels) is ideal for sending images via e-mail or for posting on the web. The included 8 MB MultiMediaCard removable memory can hold up to approximately 40 images. USB connectivity ensures fast downloading and connectivity with Windows. The camera fits easily in your pocket, goes virtually everywhere you go, and offers simple point-and-click use. With the Ultra-Pocket, it's never been more convenient to capture and share life's images.
SMaL Ultra-Pocket Digital Camera Specifications (Preliminary)
| Imager | VGA CMOS device |
| Image sizes | 640 x 480 |
| Viewfinder | Optical |
| Lens | 35mm equiv., F2.0 |
| Aperture | Fixed, F2.0 |
| Focus range | 91cm (36") - Infinity |
| Exposure | Auto |
| Shutter Speed | 1/10 to 1/1000 sec |
| Storage | MultiMediaCard (8 MB supplied - approx 40 images) |
| Interface | USB |
| Power | Lithium-Ion rechargeable |
| Dimensions | 85.6 x 54 x 6 mm (3.4 x 2.1 x 0.2") |
| Weight | 63.3g (2.23 oz) |
In Management Criteria for Effective Innovation, rate SMaL camera innovation with respect to traditional 1990s digital consumer cameras. Address the following:
QUESTION
a. Regarding each component of the camera, what technical constraints were lifted relative to the traditional 1990s digital cameras?
b. Regarding each component of the camera, what technical constraints were added relative to the traditional 1990s digital cameras?
c. Is the end product enhanced by additional technology and components required to make use of the innovation?
d. Is the inventive concept itself diluted or enhanced by the embodiment required?
e. Does the additional embodiment offer opportunity for further inventive enhancement?
?I don't know the answer, you are the Expert Q&A that is why I was aking the Question. Thank you.
In: Operations Management
During the Covid 19 pandemic (corona virus diseases 19) there are many businesses experiencing disruption such as retail, hospitality, travel, shopping malls, property, office rentals, etc. Instead, there are some businesses are booming, such as e-commerce, online schooling, webinars or online training, sports equipment at home and others. As is known, before the vaccine of that covid 19 was discovered, it is predicted that the duration of this pandemic will plague within the next 1-2 years. In this period, most of companies are trying to find the new models to survive and earn income. Therefore, marketing strategies including building branding for a better business are needed. The slumped businesses must look for new business models including how to make low costs in production or operations. Several companies that can be adapted to the reality will be able to escape the hurricane covid 19 likely. In the board of leadership meeting of PT. XYZ which has been engaged in off line retail business of a special product that rarely found in the market. One of the leaders Mr. Bagus, suggested to consider the improvement in the sales system by using the online system with the aim is to maintain and increase sales turnover. He recommend to make a team for preparing everything in connection with the proposal. However, another leader Mr. Agus has a different opinion, he said in order not to be in a hurry to invest on the online sales system, because it will be required the expensive investment costs, skill labor still not available yet, beside for a long time sales turnover has been achieved well although conducted by off line. Then, he argued that the covid 19 will pass soon, he is not sure that the outbreak more than 6 months, it will only be temporary. According to him, the vaccine will be founded in a short time, then the condition will be running well in a prompt time, and those customers will be came back automatically to PT. XYZ. The another argument of Mr. Agus rejecting to Mr. Bagus' proposal is that it will be very difficult to sale products in credit by using the online application system, especially to increase sales. According to him, the credit sales have boosted the sales revenue value for a long time, where only 30% cash sales of total sales.
Question: Which proposal will you agree and support, do you agree and support to the Mr. Bagus' proposal to build a digital sales system or do you agree to the Mr. Agus' opinion to keep or maintain the old sales system by using offline?, or will you agree and support to the combination of digital and offline sales system. Explain your opinion and support your opinion clearly!
In: Accounting
During the Covid 19 pandemic (corona virus diseases 19) there are many businesses experiencing disruption such as retail, hospitality, travel, shopping malls, property, office rentals, etc. Instead, there are some businesses are booming, such as e-commerce, online schooling, webinars or online training, sports equipment at home and others. As is known, before the vaccine of that covid 19 was discovered, it is predicted that the duration of this pandemic will plague within the next 1-2 years. In this period, most of companies are trying to find the new models to survive and earn income. Therefore, marketing strategies including building branding for a better business are needed. The slumped businesses must look for new business models including how to make low costs in production or operations. Several companies that can be adapted to the reality will be able to escape the hurricane covid 19 likely. In the board of leadership meeting of PT. XYZ which has been engaged in off line retail business of a special product that rarely found in the market. One of the leaders Mr. Bagus, suggested to consider the improvement in the sales system by using the online system with the aim is to maintain and increase sales turnover. He recommend to make a team for preparing everything in connection with the proposal. However, another leader Mr. Agus has a different opinion, he said in order not to be in a hurry to invest on the online sales system, because it will be required the expensive investment costs, skill labor still not available yet, beside for a long time sales turnover has been achieved well although conducted by off line. Then, he argued that the covid 19 will pass soon, he is not sure that the outbreak more than 6 months, it will only be temporary. According to him, the vaccine will be founded in a short time, then the condition will be running well in a prompt time, and those customers will be came back automatically to PT. XYZ. The another argument of Mr. Agus rejecting to Mr. Bagus' proposal is that it will be very difficult to sale products in credit by using the online application system, especially to increase sales. According to him, the credit sales have boosted the sales revenue value for a long time, where only 30% cash sales of total sales.
Question:
Which proposal will you agree and support, do you agree and support to the Mr. Bagus' proposal to build a digital sales system or do you agree to the Mr. Agus' opinion to keep or maintain the old sales system by using offline?, or will you agree and support to the combination of digital and offline sales system. Explain your opinion and support your opinion clearly!
In: Operations Management
CASE 4.2
The Home Improvement Project
Lukas Nelson and his wife, Anne, and their three daughters had been living in their house for over five years when they decided it was time to make some modest improvements. One area they both agreed needed an upgrade was the bathtub. Their current house had one standard shower bathtub combination. Lukas was 6 feet four, and could barely squeeze into it. In fact, he had taken only one bath since they moved in. He and Anne both missed soaking in the older, deep bathtubs they enjoyed when they lived back East.
Fortunately, the previous owners that built the house had plumbed the corner of a large exercise room in the basement for a hot tub. They contacted a trusted remodeling contractor who assured them it would be relatively easy to install a new bathtub and it shouldn’t cost more than $1,500. They decided to go ahead with the project.
First the Nelsons went to the local plumbing retailer to pick out a tub. They soon realized that for a few hundred dollars more they could buy a big tub with water jets (a Jacuzzi). With old age on the horizon a Jacuzzi seemed like a luxury that was worth the extra money.
Originally the plan was to install the tub using the simple plastic frame the bath came with and install a splash guard around the tub. Once Anne saw the tub, frame, and splashguard in the room she balked. She did not like how it looked with the cedar paneling in the exercise room. After significant debate, Ann won out, and the Nelsons agreed to pay extra to have a cedar frame built for the tub and use attractive tile instead of the plastic splashguard. Lukas rationalized the changes would pay for themselves when they tried to sell the house.
Page 127The next hiccup occurred when it came time to address the flooring issue. The exercise room was carpeted, which wasn’t ideal when getting out of a bathtub. The original idea was to install relatively cheap laminated flooring in the drying and undressing area adjacent to the tub. However, the Nelsons couldn’t agree on the pattern to use. One of Anne’s friends said it would be a shame to put such cheap flooring in such a nice room. She felt they should consider using tile. The contractor agreed and said he knew a tile installer who needed work and would give them a good deal.
Lukas reluctantly agreed that the laminated options just didn’t fit the style or quality of the exercise room. Unlike the laminated floor debate both Anne and Lukas immediately liked a tile pattern that matched the tile used around the tub. Anxious not to delay the project, they agreed to pay for the tile flooring.
Once the tub was installed and the framing was almost completed, Anne realized that something had to be done about the lighting. One of her favorite things to do was to read while soaking in the tub. The existing lights didn’t provide sufficient illumination for doing so. Lukas knew this was “non-negotiable” and they hired an electrician to install additional lighting over the bathtub.
While the lighting was being installed and the tile was being laid, another issue came up. The original plan was to tile only the exercise room and use remnant rugs to cover the area away from the tub where the Nelsons did their exercises. The Nelsons were very happy with how the tile looked and fit with the overall room. However, it clashed with the laminated flooring in the adjacent bathroom. Lukas agreed with Ann, that it really made the adjacent bathroom look cheap and ugly. He also felt the bathroom was so small it wouldn’t cost much more.
After a week the work was completed. Both Lukas and Anne were quite pleased with how everything turned out. It cost much more than they had planned, but they planned to live in the house until the girls graduated from college so they felt it was a good long-term investment.
Anne had the first turn using the bathtub followed by their three girls. Everyone enjoyed the Jacuzzi. It was 10:00 p.m. when Lukas began running water for his first bath. At first the water was steaming hot, but by the time he was about to get in, it was lukewarm at best. Lukas groaned, “After paying all of that money I still can’t enjoy a bath.”
The Nelsons rationed bathing for a couple weeks, until they decided to find out what if anything could be done about the hot water problem. They asked a reputable heating contractor to assess the situation. The contractor reported that the hot water tank was insufficient to service a family of five. This had not been discovered before because baths were rarely taken in the past. The contractor said it would cost $2,200 to replace the existing water heater with a larger one that would meet their needs. The heating contractor also said if they wanted to do it right they should replace the existing furnace with a more energy efficient one. A new furnace would not only heat the house but also indirectly heat the water tank. Such a furnace would cost $7,500, but with the improved efficiency and savings in the gas bill, the furnace would pay for itself in 10 years. Besides, the Nelsons would likely receive tax credits for the more fuel-efficient furnace.
Three weeks later, after the new furnace was installed, Lukas settled into the new bathtub. He looked around the room at all the changes that had been made and muttered to himself, “And to think that all I wanted was to soak in a nice, hot bath.”
Questions:
1. What factors and forces contributed to scope creep in this case?
2. Is this an example of good or bad scope creep? Explain.
3. How could scope creep have been better managed by the Nelsons?
In: Operations Management
Conduct an Independent Samples T test to answer the questions based on the following scenario. (Assume a non-directional research hypothesis (two-tailed test) and a level of significance of .05) The superintendent who collected data for Assignments 1 and 2, continued to examine the district’s data. One question that concerned the superintendent’s constituencies was the difference between the school performance scores of the superintendent’s district and a neighboring district that had similar demographic and socio-economic characteristics. The superintendent collected the following information: School performance scores for superintendent’s district: 62 66 73 79 64 68 75 85 69 63 60 71 51 78 65 79 58 86 76 63 60 80 45 61 72 63 59 School performance scores for comparison district: 67 68 69 67 73 66 64 60 61 61 56 60 57 72 62 63 64 70 65 63 67 63 57 60 64 69 68
1. What are the mean and standard deviation for the superintendent’s district?
2. What are the mean and standard deviation for the comparison district?
3. State an appropriate null hypothesis for this analysis.
4. What is the observed or computed value of t?
5. What is the value of the degrees of freedom that are reported in the output (equal variances assumed)?
6. What is the reported level of significance?
7. Based on the reported level of significance, would you reject the null hypothesis?
8. Present the results as they might appear in an article. This must include a table and narrative statement that reports and interprets the results of the Independent Samples T test. Note: The table must be created using your word processing program. Tables that are copied and pasted from SPSS are not acceptable.
In: Statistics and Probability