Estimate the cost to produce 2,000 units. Determine the coefficient of determination (r2). Determine whether to use this equation for estimating purposes.

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VOLUME CHEMICAL

You are involved in analyzing the relationship between the cost and the volume of production. You have collected the following inflation‐adjusted data:

Table 3.12—Volume Chemical Inflation-Adjusted Data

Production Units Costs

700 $61,750

1,450 $64,450

1,500 $66,000

1,750 $69,438

2,100 $73,410

2,150 $75,720

3,050 $79,375

  1. Estimate the cost to produce 2,000 units.
  2. Determine the coefficient of determination (r2).
  3. Determine whether to use this equation for estimating purposes. (yes/no)

 

Imagine that you are a project manager for a construction company. Create a WBS for the Site Preparation phase of this project.

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Site Preparation phase

Imagine that you are a project manager for a construction company. You must create a WBS for the Site Preparation phase of this project. Here is a list of tasks.

Task Title Predecessors Duration
A Contract Approval — 5
B Site Survey A 5
C Permit Application A 4
D Grading B,C 5
E Sewer Lines B 7
F Base Paving D 3
G City Approval C,F 6
H Final Paving E,G 8

 

Read the text and identify the main Work-Related Characteristics (WRCs) used by Ya Kun in the selection process for both outlet staff and staff managers. Based on your handouts and textbook, identify and define the process that helps the organizations determine the required WRCs.

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Case Study: Ya Kun Kaya International

Ya Kun was founded in 1944 by Loi Ah Koon, as a coffee shop that served coffee, tea, eggs and toast. Ya Kun International moved to Singapore in 2001, where it now has 32 outlets, and has 27 franchise outlets in other parts of Asia.

Ya Kun has a family-style work environment and an established “promotion –from-within” policy. There is also a strong emphasis on team work, where helping one another is a norm., even between employees across outlets and departments. The top management reinforces this teamwork culture at Ya Kun.

Job openings for the outlet staff are advised in Chinese and English newspapers, as well as through recruitment notices at Ya Kun outlets. Applicants who respond to the advertisements are invited for interviews. Applicants go through two rounds of interviews – one with the senior area manager and one with the operations manager. Job applicants are screened primarily for their level of commitment and willingness to work shifts. Other desirable qualities include integrity, diligence and honesty. Prior experience in the food and beverage industry is not essential.

Most of Ya Kun Singapore`s outlet staff are more than 30 years of age because Ya Kun believes that mature workers generally have better work attitudes. Also the majority of the outlet staff are Singaporeans with small proportion from Malaysia and China.

Most of the outlet staff are full-time workers, with some part-time staff hired to complement the full-time staff when they go on vacation or become ill.

The emphasis on good attitude and character in the selection of outlet staff has helped Ya Kun build a pool of hardworking and committed workers. Loyalty, honesty and fairness are the most important attributes sought in selecting staff managers from among the outlet staff. All these helps make the staff happy and committed to the company, which Ya Kun believes has translated into their serving customers well.

QUESTIONS:

  1. Read the text and identify the main Work-Related Characteristics (WRCs) used by Ya Kun in the selection process for both outlet staff and staff managers.
  2. Based on your handouts and textbook, identify and define the process that helps the organizations determine the required WRCs.
  3. Based on your handouts and textbook, Identify and analyze the different techniques to collect information for job analysis.
  4. Define diversity and state its dimensions. Can we say that Ya Kun promotes diversity in the workplace? Justify your answer from the text.

 

Describe and analyze the necessary activities and key decisions to start a small business. Use technology and information resources to research issues in small business management.

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Small business management

Describe and analyze the necessary activities and key decisions to start a small business.

Use technology and information resources to research issues in small business management.

Write clearly and concisely about small business management using proper writing mechanics.

 

Briefly explain, in your own words, three of the hedge transaction types. Describe in which situations each would be used and why.

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Hedge transaction types

Briefly explain, in your own words, three of the hedge transaction types.

Describe in which situations each would be used and why.

 

 

What is the typical profile of a talented employee? How is talent management distinct from other HR Processes? What is the relationship between Workforce Planning and Talent Management?

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Human Resources

Articulate the processes by which talented employees are identified, and compare and contrast talent management from other HR processes.

Task(s):

Instructions for this Discussion

Module 1 Discussion Guiding Questions:
Answer each question by writing a paragraph per question.
What is the typical profile of a talented employee?
How is talent management distinct from other HR Processes?
What is the relationship between Workforce Planning and Talent Management?

Use the provided datasets for building one of each of the four chart types below. For each chart, select a variable from the provided dataset with a measurement level that is best visualized by that chart type.

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BUS-7105 Week 2 Part 2

In this week’s assignment, you will explore the different types of graphs used to visualize data. Results from both Excel and SPSS should be copied and pasted into a Word document for submission.

Use the provided datasets for building one of each of the four chart types below. For each chart, select a variable from the provided dataset with a measurement level that is best visualized by that chart type. Use APA style to label each chart. Each graph must contain a narrative description of what it represents and an interpretation of the image.

  • Pie chart
  • Bar chart
  • Scatterplot
  • Histogram

List and define the four levels of measurement (using examples) discussed in this week’s introduction and resources. In your opinion, which one or more is the most appropriate for statistical analysis. Explain.

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BUS-7105 Week 2 Part 1

Write a short essay related to data privacy.

1. Explain what it means to say, “variables must vary.”

2. List and define the four levels of measurement (using examples) discussed in this week’s introduction and resources. In your opinion, which one or more is the most appropriate for statistical analysis. Explain.

3. Compare and contrast the characteristics of continuous and discrete variables. What is a common challenge of trying to calculate statistics using discrete variables?

4. Identify the level of measurement for the following examples and explain why you selected the level you did for each, relying on this week’s resources for support:

  • Career field (e.g., accountant, production manager, etc.)
  • Temperature in Fahrenheit
  • A job satisfaction survey measured as “disagree, neutral, agree”
  • Total sales for a firm

5. Identify each of the following types of a variable (e.g., continuous versus discrete) and explain why you selected the category you did for each, relying on this week’s resources for support:

  • The number of workers in each department of a large organization (e.g., workers in production, sales, accounting, etc.)
  • The dollars of revenue earned during a fiscal year.
  • The number of software licenses available to employees in a firm
  • he average annual salary of middle managers of an organization

Prepare a business report responding to Discussion Question 16.7-38 in the textbook by responding to the three questions in the case. In one paragraph or less summarize the salient issue(s) in the case.

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Business Report

Prepare a business report responding to Discussion Question 16.7-38 in the textbook by responding to the three questions in the case.

Assignment Instructions

This is a Business Report, not an essay!

In one paragraph or less summarize the salient issue(s) in the case. Do not duplicate what is in the case itself.

The body of the report addresses the questions in the case in a clear, concise and cohesive manner. This report should be business like, structured and methodical. Please note: each question should become a section title, with sub-titltes as needed for multi-part responses.

The responses are expected to utilize the topics introduced in this course.

 

What are the 4 characteristics of a binomial experiment? Can we use a binomial distribution to model this process? What is the probability that the entire batch unnecessarily has to be tested if in fact 95% of its laptops conform to specifications?

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Applied statistics in business and economics

What are the 4 characteristics of a binomial experiment?

Can we use a binomial distribution to model this process?

What is the probability that the entire batch unnecessarily has to be tested if in fact 95% of its laptops conform to specifications?

  • (Hint: Use Excels =BINOMDIST() function to find the probability)

What is the probability that the batch is incorrectly accepted if only 75% of its laptops actually conform to specifications?

What situations in your organization might this type of analysis apply to? Explain.

Learning Material: Doane, D., & Seward, L. (2022). Applied statistics in business and economics (7th ed.). McGraw-Hill.