...1. Consider a football team for whom the numbers on the active players’ jerseys are 29, 41, 50, 58, 79,…, 10 (listed in alphabetical order of players’ names). Does it make sense to calculate the means of those numbers? Why are why not? No because it doesn’t make sense to calculate jersey numbers but stats maybe 2. The Fair Isaac Corporation (FICO) credit rating scores obtained in a simple random sample are listed below: 714 751 664 789 818 779 698 836 753 834 693 802 a. Find mean, median, mode, and midrange. 714+ 751+ 664+ 789+ 779+ 698+ 836+ 753+ 834+ 693+ 802= 9131 Mean 760.9 Median 766 Mode 0 Midrange 766 b. As of this writing, the reported mean FICO score was 678. Do these sample FICO scores appear to be consistent with the reported mean? No it was much higher 3. A student earned grades of 92, 83, 77, 84, and 82 on her five regular tests. She earned grades of 88 on the final exam and 95 on her class projects. Her combined homework grade was 77. The five regular tests count for 60% of the final grade, the final exam counts for 10%, the project counts for 15%, and homework counts for 15%. What is her weighted mean grade? Grades 92+ 83+ 77+ 84+ 82/ 5 = 83.6 Regular grades 83.6 x0.60= 50.16 Final exam 88 x 0.10 = 8.8 Class project 95 x 0.15 = 14.25 Homework 77 x 0.15 = 11.55 Her weighted mean grade is 84.71 4. Bao Xishun is the world’s tallest man with a height of 92.95 in. (or 7 ft. 8.95 in.). Men have heights with a mean of 69.6...
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...single data is a called a datum, a term that does nog see very much use.) * Statistics – is the science of planning studies and experiments; obtaining data; and then organizing, summarizing, presenting, analyzing, and interpreting those data and then drawing conclusion based on them. * Population – is the complete collection of all measurements or data that are being considered. * Census – is the collection of data from every member of the population. * Sample – is a sub-collection of members selected from a population Statistics Cheat Sheet Chapter 2 – Summarizing and Graphing Data Section 2-1: Review and Preview * Characteristics of Data * 1. Center: A representative value that indicates where the middle of the data set is located. * 2. Variation: A measure of the amount that the data values very. * 3. Distribution: The nature or shape of the spread of the data over the range of values (such as bell-shaped). * 4. Outliners: Sample values that lie very far away from the vast majority of the other sample values. * 5. Time: Any change in the characteristics of the data over time. * Study Hint: Blind memorization is not effective in remembering information. To remember the above characteristics of data, it may be helpful to use a memory device (or mnemonic) for the first five letters CVDOT. Remembering the sentence “Computer Viruses Destroy Or Terminate” is an easy way to help us remember the five key...
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...Responsibility centers and financial performance measures Performance measurement is a tool for management control activity. Management control can be defined as the process by which managers and/or those placed in positions of responsibility influence other members of an organization to implement the organization’s strategies. The management control activities are aimed at ensuring that strategies are carried out so that the organization’s objectives are achieved. A specific aspect of management control activity is task control. Task control --a management control process by which specified tasks are carried out effectively and efficiently. Some writers draw a distinction between management control and task control, describing the former as a broad process for deciding and ensuring how strategies are implemented, and the latter as a device for assuring that specified tasks are carried out in a desired manner. In any event, performance evaluation can be applied to assess the success/failure with which a strategy is implemented or to measure the efficiency or effectiveness with which a specified task is performed. The steps followed to measure performance of a unit are often represented in a stylized model describing the chain of activities that produce a performance report. The figure below is one such stylized model of performance measurement that outlines a number of steps that produce a performance report used in decisions. A simple process model of performance measurement ...
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...Management of Human Services Programs University of Phoenix This paper is in reference to case study 10. This paper will develop one process evaluation measure and one outcome evaluation measure to display the Greenby Community Mental Health Center’s effectiveness and efficiency. This paper will also discuss the scope and purpose of the process evaluation measure and outcome evaluation measure and how they influence the design. The Greenby Community Mental Health Center process evaluation measure suggests the consultation and education department needs to implement the address of the real questionable issue within the organization, and to evaluate the programs being offered through the organization. The questionable issue at the center involves the discontinuance of the consultation and education departments. We understand the organization is facing an issue in regard to required service programs. We also understand the community mental health center has suggested as long as there is a director available the proposed suggestion will work, but doing so will take away workshops that have been instrumental to the program consumers. The implemented design includes dedicating a percentage of each professionals work towards Consultation and Education (Lewis, p. 242). A process evaluation is aimed at enhancing a current program by means of a formative analysis. It can be done anytime to describe and study the conceptualization, planning and implementation of a particular...
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...Target Setting ABSTRACT It is well known that compensation contracts can improve risk sharing by incorporating information about peer performance ex post, i.e., once the performance of a unit as well as its peers is observed. In this study, we examine whether peer performance is also used ex ante, i.e., when setting performance targets at the beginning of a period. We analyze data on 2008– 2010 performance targets from 354 units of a national agency responsible for reintegration of the long-term unemployed into the labor market. We find evidence that a target for a performance measure is strongly positively associated with past peer performance on the same measure as well as past peer performance on a different measure. Thus, performance targets are lower whenever past peer performance is weak on at least one of its dimensions. We also find that the relative weights on different measures of peer performance are proportional to their capacity to filter out common risks. We conclude that using information about past peer performance improves risk sharing and alleviates adverse incentive effects associated with setting targets based on a unit’s own past performance. Keywords: Relative performance evaluation; target setting; target ratcheting; multi-tasking. Data availability: Data used in this study is not publicly available due to confidentiality agreements with participants of this study. 3 INTRODUCTION Performance targets are an important component of...
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...manager. This type of accounting system is known as A. Responsibility accounting. B. Functional accounting. C. Reciprocal allocation. D. Transfer price accounting. Answer (A) is correct. (CMA, adapted) REQUIRED: The system in which additional costs are charged to the manager with authority for their incurrence. DISCUSSION: In a responsibility accounting system, managerial performance should be evaluated only on the basis of those factors directly, regulated (or at least capable of being significantly influenced) by the manager. For this purpose, operations are organized into responsibility centers. Costs are classified as controllable and non-controllable, which implies that some revenues and costs can be changed through effective management, If a manager has authority to incur costs, a responsibility accounting system will charge them to the manager’s responsibility center. However, controllability is not an absolute basis for establishment of responsibility. More than one manager may be able to influence a cost, and responsibility may be assigned on the basis of knowledge about the incurrence of a cost rather than the ability to control it. Answer (B) is incorrect Functional accounting allocates costs, to functions regardless of responsibility. Answer (C) is incorrect. Reciprocal allocation is a means of allocating service department...
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...medical record (EMR) will help Coastal Medical Center to save money for a paper chart to digital version that contains all of a patient's medical history from one practice. EHRs are designed to contain real-time order checking system and share information from all providers involved in a patient’s care. By using certified electronic health record (EHR) technology to Improve quality, safety, efficiency, and reduce health disparities Engage patients and family Improve care coordination, and population and public health Maintain privacy and security of patient health information EHR data can also be created, managed, adopting performance measures and staff from across more than one health care organization. Coastal Medical Center have to join the 95% of hospitals eligible for the Medicare and Medicaid EHR Incentive Program which had achieved meaningful use of certified HIT or Stage 4 of the Adoption Model as of December 2015. - b) Clinical Information Systems (CIS) is a computer based system that is designed to improve coordination of care to lead to a better outcome g and making available clinical information important to the healthcare delivery process. Which will increase awareness among Coastal Medical Center members and the larger community of ways that it’s working to successful and effective development, implementation, and evaluation of clinical information systems - c) Telehealth or E-Health could be used at Coastal Medical Center to improve quality and efficiency of care...
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...such as cash management, credit cards, deposits, loans, money market investments, etc., that may be summarized on a single bank statement. What is the new Performance Scorecard? While financial measures typically were the way Citibank measured success in the past, they recognized a need to measure customer service as well, and thus developed a Performance Scorecard. The six different types of measures the Performance Scorecard evaluated were: financial strategy implementation customer satisfaction control people standards Citibank felt it was necessary to update the previous evaluations to include non-financial measures because they recognized that these measures may in fact be more critical to the long term success of the franchise. As a result, by adding the non-financial measures to the current measures, Citibank was able to reflect competitive dimensions in the bank's strategy. Why is the Customer Satisfaction Score metric an important component? Customer satisfaction indicator was important not only for meeting ever-increasing expectations of highly-sophisticated clients, but also for achieving strategic goals of the division, and staying competitive. Citibank’s current strategy focused on customer service as a key differentiator. Hence, Customer Satisfaction measure is considered as critical to the long term success of the bank, as well as a leading indicator of future financial performance. If customer satisfaction were to deteriorate, it was only a matter...
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...information in terms of responsibility centers about the inputs and outputs of responsibility accounting. A growing trend in the structure of health care organizations is decentralization. Decentralization is the degree of dispersion of responsibility within a health care organization. In a decentralized organization, decision making is not confined to a few Top Executives but rather spread throughout the organization, with managers at various levels making key operating decisions within their sphere of responsibility. Health care organizations are divided into responsibility centers, organizational units in which a manager is responsible for operations and evaluates the unit's performance. For example, a nurse manager may be responsible for an inpatient pediatric unit, the manager for a home-care program is responsible for all home-care services that are delivered, and the manager of a housekeeping department is responsible for the cleanliness of the facility. Every program and department in a health care organization can be classified as a responsibility center. Responsibility accounting provides the information necessary to assist a manager in operating a responsibility center. Responsibility accounting is defined as the classification of financial and statistical data according to the organizational unit that produces the revenue and incurs the expense. There are four major types of responsibility center and cost centers is one. Cost centers are responsible for providing services...
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...Quality indicators are defined as parameters along which a healthcare organization’s performance is measured (The Healthcare Management Council, 2009). These indicators may be determined by the organization based on its unique needs, or they may be dictated by regulatory agencies. The measures of the indicators allow an organization to gauge its performance against itself over time or against other similar organizations statewide or nationwide. Regardless, the quality indicators must be congruent with the organization’s mission, vision, and values. This paper will provide a description of the Community Health Center of Franklin County, Inc. (CHCFC), describe the mission, vision, and values of CHCFC, explain some quality indicators and measures currently in place at CHCFC, and discuss who is responsible for CHCFC’s quality improvement plan. CHCFC Description CHCFC is a nonprofit federally funded community health center located in rural Alabama. It operates 10 clinics in eight different counties. TCMC is fully accredited by The Joint Commission. Services vary slightly from clinic to clinic. Each clinic offers general primary healthcare, in-house laboratory testing, patient medication assistance programs, and four of the clinics offer in-house X-ray services. According to CHCFC’s 2008 Uniform Data System Report, providers within the...
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...start when considering how to reduce data center power consumption? What value of PUE should data center managers strive for? - PUE is simply defined as “Power Usage Effectiveness”. It measures how efficiently data centers use energy. PUE is an important place to start because it makes Google to measure the change in usage effectiveness. The ratio of PUE is total facility energy over IT equipment energy. A PUE of 1.00 would be best, but 1.09 was the lowest estimated value until 2011 as the video says. Data center managers are still striving for that. PUE = IT Equipment Energy + Facility Overhead Energy / IT Equipment Energy 2. Describe the five methods recommended by Google for reducing power consumption. - Measure PUE As I mentioned in Question 1, the industry uses a ratio called Power Usage Effectiveness (PUE) to measure and help reduce the energy used for non-computing functions. To effectively use PUE, it's important to measure often (at least once per second). If the ratio has a 1.00 PUE, it means the energy can be used in the most effective way possible. - Manage airflow Good air flow management is significant to efficient data center operation. By Minimize hot and cold air mixing, Google reduces its power consumption. Google should eliminate hot spots and be sure to use blanking plates (or flat sheets of metal) for any empty slots in the rack. Thermal modeling using computational fluid dynamics (CFD) can help data center managers quickly characterize and optimize...
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...Williams Harrison College Medicaid/Medicare Services Develop a plan for the center by using clinical quality measures, or CQMs, which are tools to help track and measure the quality of health care serviced that are provided by eligible professionals, eligible hospitals that are within the health care system. These would be measures to use data that is associated with providers that are able to provide high quality care or relate to long term goals for health care. The measures would be the many aspects of patient care including: * Health outcomes * Patient safety * Clinical processes * Efficient use of health care resources * Population and public health * Adherence to clinical guidelines * Patient engagements * Care coordination By reporting and measuring CQMs in a three month or 90 day reporting period will help to ensure that the health care system is safe, efficient, effective, patient centered, timely care and equitable. According to the EHR Incentive Programs the need to report the measures will demonstrate meaningful use and receive an incentive payment so the CQMs may be reported electronically or via attestation. The CQMs are identified into core sets and they are highly recommended so the focus can be on conditions that contribute to the morbidity and mortality of most Medicare and Medicaid beneficiaries with some factors that would be recommended, the Center would have to have certain conditions that would contribute to most of Medicaid...
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...important place to start when considering how to reduce data center power consumption? What value of PUE should data center managers strive for? Power Usage Effectiveness (PUE) is a measure to determine the energy efficiency of a data center. It is the ratio between the energy of the system and the energy of the IT equipment in the data center. TOTAL FACILITY ENERGY PUE = --------------------------------------- IT EQUIPMENT ENERGY It is the ratio of the energy supplied to the entire Data Center and the energy consumed by the IT equipment. Whether to feed the entire plant, we need twice the minimum required to own IT equipment, we have a PUE 2. It allows to calculate the efficiency of the power supply and cooling IT equipment.. A PUE of 2.0 means that for every watt of IT power, an additional watt is consumed to cool and distributes power to the IT equipment. A PUE of 1.0 is considered ideal. A closer PUE of 1.0 means that almost all the energy is used to compute. For use PUE to be effective, should be measured often. If you occasionally makes the information will not be realistic. Ideally, measured as quickly and frequently as every second way. The higher the frequency, the more significant the results. 2. Describe the five methods recommended by Google for reducing power consumption. • Measure Pue To manage the efficiency of a data center must have the tools to measure the efficiency of energy use or PUE. It is a value that calculates...
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...control systems 9 2.1Management Control Systems (MCS) 10 2.2Elements of Management Control 11 2.3Boundaries of Management Control 11 2.4 Benefits of management control systems 12 2.5 Limitations of Management control systems 12 CHAPTER 03 13 Management control systems and strategy: 13 A critical analysis 13 3.1 Relationship between Management control systems and strategy 14 3.2 Levels of strategy from organization point of view 14 3.2.1Corporate-Level Strategy 14 3.2.2 Business Unit Strategies 15 3.2.2.1 Business Unit Mission 15 3.2.2.2 Business Unit Competitive Advantage 15 3.4 Responsibility Centers 16 3.4.1 Nature of Responsibility Centers. 16 3.5 types of Responsibility Centers 17 3.5.1 Revenue Centers 17 3.5.2 Expenses Centers 17 3.5.3 Profit Centers 18 3.5.4 Investment center 21 3.6 Concept of Transfer Pricing in relation to Responsibility center 22 CHAPTER 04 23 Budgeting and performance measurement 23 4.1Budgeting as a Control Mechanism 24 4.2Business performance management 25 4.3Balanced Scorecard 26 CHAPTER 05 29 FINDINGS AND CONCLUSION 29 5.1 Findings 30 5.2 Conclusion 30 5.3Bibliography 31 CHAPTER 01 About the report 1.1Introduction To introduce this topic and understanding the importance of management control system we know that in the present globalised world, organizations need to use management control systems that go beyond the strategies that focus on acquisition of technology and logistics which are not sufficient to give...
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...CASE-3 ATLANTIC HOME LOAN: I. Determine which category the case fits into: This case is diagnostic in nature and Albert Fiorini failed in checking the management failures. Based on the case facts, supposed to identify the lapse in control measures and propose solutions to them. II. Describe the case This case is talking about the illegal takeover of company “Atlanta Home Loan” by Albert’s partner cum manager Wilbur Washington. a. What are the facts of the case? ➢ Albert Fiorini (Al) founded a company named “Atlanta Home Loan” (AHL) in April’02. ➢ Recruited several staffs to take care of operations. ➢ After six months, in Sept’02, AL left to complete his MBA. Before leaving, started looking for someone to run his business. ➢ Impressed by Joe’s (one of AHL’s loan officers) performance, Al offered him a partnership. Joe accepted the same and reached a verbal partnership agreement. ➢ Afterwards Al found that conduct of Joe is not good for the company, parted his ways from him. He hired one manager also who lasted only for three days. Joe took away several loan files which did not got closed since August. Joe was also reluctant into returning those files to AHL. This resulted into a great loss of revenues to the AHL. ➢ In desperation, he entered into another written partnership agreement with Wilbur. In desperation, Al gave him all the management rights expect signing authority for checks. ➢ Wilbur without consulting Al used signed...
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