...Decisions in Paradise, Part One As I take the identity of Nik, it will be my job to help my new organization develop a stronger business presence in Kava. To ascertain what that presence will be, and the steps it will take to make it happen, information must first be analyzed, synthesized, and prescribe the best decision to benefit the organization and the community of Kava (“Decisions in Paradise: How to Be, or Not To Be,” n.d., p. 3). Concerns The business scenario indicates, a number of concerns that need consideration before a decision can be described. To reach the goal of the company we must first address the demographics of Kava. With 50% of the population below 15 years of age we will focus the first phase of our marketing strategy on half of the population while making our presence acceptable to the diverse mixture of ethnicities, languages, and religions on Kava (“Decisions in Paradise: How to Be, or Not To Be,” n.d., p.2). Second the Islands remote location makes travel to and from the island expensive so this would require making the Kava branch as self-reliant as possible, working in parallel to develop a comprehensive disaster recovery plan to address many natural disasters that threaten the Island of Kava. Forces The primary forces to impact the problem formulation in Kava include the disorganization of the office, the environment, and Kava’s economy, which is the principal force of influence to be considered. Coupled with Nik’s lack of experience and the forces...
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...Nonparametric Hypothesis Testing RES/342 Nonparametric Hypothesis Testing During the course of the last three weeks, the team explored the hypothesis testing segment of statistics research. The first part of this assignment was the one sample hypothesis testing. The second was the two or more sample hypothesis testing, and finally in this third week, we will look at nonparametric hypothesis testing. This week’s project is a continuation of the previous projects and entails to build on the identical research question that we will frame a research hypothesis from the same provided data sets (Wage and Wage Earners) using ratio or interval numerical data; however, this week we will use a nonparametric hypothesis test to find our answer. In the next following paragraphs, the team will clearly affirm a hypothesis statement that will provide the base for our survey, perform a five-step hypothesis test on information concerning our choice and apply the concepts of nonparametric testing learned in this course, and describe how the results of our findings answer our research question. Finally, we will conclude this study with a brief summary that will examine the main points, the purpose, and conclusions of this final third week’s study on nonparametric testing. Perform the five-step hypothesis test on the data Nonparametric tests are statistical tests that analyze data that does not require assumptions about the distribution of shape of the population from which...
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...part of an industry that has been around for centuries. Fast food industries have been around for centuries. They have played a part in structuring our economy in the workforce and the market place. They also impacted us, the consumers, on how we eat and manage our budget. When it comes to employing teenagers, unskilled, or low skilled workers, fast food industries is the answer. Fast food industries are the top employers for low wage or minimum wage earners. To understand how fast food industries became one of the top employers for minimum wage earners, we first need to understand the industry. It does not require a lot of skills to work in one of fast food restaurants. Fast food industries focused on high volumes of preheated or precooked food that were served or prepared by an assembly line (Fast Food Industry Analysis 2013). This type of system gave fast food industries the opportunity to employ workers who are willing to work on minimum wage. For a long time fast food industries have been reaping the rewards of low wage earners. “Roughly 90% of the nation’s fast food workers receive no benefits and are scheduled to work only as needed. There are a few if any possibilities for advancement. Assistant managers, a misname designed to entrap workers who are looking to build a career at these chains, are also exploited, often forced to work 50, 60, or 70 hours a week, sometimes off the clock, with no serious opportunities for promotion...
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...national federal minimum wage from 7.25 percent to 10.10 percent to fill the gap of income inequality. Obama wants to give America a raise. He said, “That too many Americans are working just to get by. Some are not working at all.” He wants to speed economic growth by putting more money into the pockets of the low-income families. He wants to help them get out of poverty by raising the federal minimum wage and pegging it to inflation. The President believes that this solution will help big businesses in the long run by decreasing employee training cost and cutting back on high turnovers. In contrary, Obama will hurt the people he is trying to help. “This proposal will only harm the people the President wants to help, especially teens, who have already endured more than four years of 20+percent unemployment,” Saltman said. “If the President wants to boost the economy and have an impact on the country’s unemployment rate, he needs to lower barriers to hiring, not raise them.” The minimum wage class is mostly made up of teenagers and young adults. These people are usually people with low skills and have little or no experience. Some of them are first time job seekers just starting out in the work force. Most of us at some point in our lives have started out working a minimum wage job. Why? We need the minimum wage jobs to help us gain the experience we need to climb the success ladder for a higher paying job. They are stepping stone jobs. Minimum wage jobs were not intended to...
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...most important problem that we are facing now” (Christofferson, 2013). A significant contributing factor to this is the stagnant minimum wage. Raising the minimum wage will not only decrease income inequality, but also raise millions out of poverty, spur consumer spending, and ultimately lead to a more efficient workplace and workforce. Therefore, America needs to adopt one of the currently proposed $10.00+ minimum wage policies being discussed in the political arena and ensure it is being used in a responsible way to fight these problems. The federal minimum wage has went without a change for nearly a decade twice, from 1981 to 1990 and 1997 to 2007. There have been many more multi-year gaps as well (Federal, n.d.) As a result, the minimum wage has not kept pace with inflation over the last 40 years. The purchasing power of the $7.25 minimum wage set in 2009 has already dropped by 5.8% by 2013 (DeSilver, 2013). Since 1968 the power of the minimum wage is down 23% after adjusting for inflation (Boushey, 2014). There is, however, another way of weighing the minimum wage instead of just against inflation. In 1968 the minimum wage was 53% of the average wage for hourly lower level employees, compared to 2013 when it had fallen to 36% as much (Boushey, 2014). This measurement shows that the people making the minimum wage today are not only falling behind their own historic levels, but also behind the workforce as a whole. This is a significant factor in why...
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...New York increased their minimum wage to $15 at the beginning of this year as part of Governor Cuomo’s plan, “Built to Lead Agenda”. This plan “takes the needs of workers and businesses alike into account.” Thus, New York is trying to improve the lives of employees, without hurting the employers in the process. The effects of an increase in minimum wage to workers and companies in New York may be too early to calculate because the year has just begun. Research of other states give insights as to the results of increasing the minimum wage. If New York can increase their minimum wage from $9.70 to $15, can other states follow through? The effects of increasing the minimum wage varies. Supporters believe that an increase in minimum wage “improve...
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...The Lowest Wage Name of Student Institutional Affiliation The Lowest Wage The minimum wage should remain at $7.25 as is the current level across numerous states. There have been numerous attempts to push for the raise of the minimum wage bill with a belief that the move will aid in improving the living standards of the poor and majority of the middle-class citizens. My argument against the rise of the minimum wage bill is based on some disadvantages that may arise due to an increment of the minimum wage bill. First, a rise in the minimum wage may hurt the middle class due to a resultant inflation of commodity prices. An increase in the minimum wage would mean that the employers would have to increase payments to the employees. With such a move, the employer would be forced to pass the extra costs to the consumers of their products hence inflation. Second, an increment in the minimum wage would be a threat to employment. Such an increase would lead to a rise in the payroll costs for the employers thus reducing or affecting their income. The consequence of this would be a reduction in employment, a decrease in hours of operation and even a reduction in the number of employees through layoffs. In fact, a study by the Congressional Budget Office shows that the proposed raise in the federal minimum wage to $10.10 could consequently lead to one million workers losing their jobs (Tejvan, 2015). The move would, therefore, burden the nation with high numbers of unemployed individuals...
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...any given population is income inequality. In order for there to be income, there has to be several sources of income. These sources of income may be combinational or independent per person receiving the income. Income may result from wages, rent, bank account interests, salaries or even profits made in business transactions ( Stiglitz, 2012). In his hypothesis, Karl Marx foresaw income inequality in a capitalistic as a major problem that would lead to an economic evolution. The main reason he foresaw an evolution was due to the recurrent nature of income inequality. In an income inequality situation, the richer keep getting richer due to a better income, while the poor keep getting poorer. The gap between the top earners and the low-income earners keeps widening in an income inequality situation. In America, almost 95% of the national wealth is under 5% ownership; this situation leaves 95% of the population to scrounge for the limited 5% wealth (DeNavas et. Al, 2005). Introduction In order to understand the complexities of economic inequality, the best specimen to use for the study is a family. In the study, the family’s income is under analysis, and then the family members ranked from the lowest income earner to the highest income earner. After the ranking, the incomes aid in establishing a Lorenz curve that is important in analysis of income. In order for a Lorenz curve to be correct, the incomes of the family members have to be divided into fifths (Lorenz, 1905). A Lorenz...
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...call for bigger government and strengthening of the lower and middle class. A solution put into effect by the Democrats was raising the minimum wage; according to Forbes “At least half of the minimum wage earners are not in the lowest household-income bracket, and even fewer are their household’s primary earner. So raising the minimum wage is not a great way for lifting up the incomes of the poorest households in America.”...
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...Investigating Wage Disparities Between Caucasian and Hispanic Workers The significance of earnings is a growing façade in today’s economy. Daily operation, individuals, and families alike rely heavily on each sale or paycheck to provide financial stability throughout. Depending on the nature of labor, wages are typically in accords to one’s experience and education or specialization. Moreover, calculating the specified industry, occupation title, education, experience on-the-job, gender, race, age, and membership to a union will additionally influence wages. To help analyze operation pay scales and remain within budget a business should obtain data pertaining to current variations in wage. Today statistics allow a business or businesses to do so in a timely and proficient manner. The purpose of the succeeding report is to communicate a hypothesis statement regarding the wages of Hispanics and Caucasian workers. Team D would like to determine whether race has an influence on the wage of these specific workers. Team D will convey this data of wages in both a numerical and verbal manner. Moreover, it is to describe and perform the five-step hypothesis test on the wages and wage earner data set, including data tables and results of the computations of a z-test or t-test by way of graphical and tabular methods. Also the paper will depict the results of all testing and convey how the results given Team D’s hypothesis testing may be used to answer the research question...
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...I completely agree that not all minimum wage workers come from a poor house hold. In a article called "Typical Minimum-Wage Earners Aren't Poor, But They're Not Quite Middle Class" it says, "Close to half a million minimum-wage earners are in households with six-figure incomes, and a million more are in those that earn at least $60,000" (Casselman pg. 3). Casselman then goes on to say that "about 1.6 million people, or about half of all minimum-wage workers" (Cassleman pg. 2) can support there-self. So even with minimum wage being so low as some might say there are people in this world who are making it work. They are budgeting and saving what they can. Sherk even got an expert opinion form Ohio University Economist it says, "the overall Poverty...
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...Wage and Salary Administration’ refers to the establishment and implementation of sound policies and practices of employee compensation. The basic purpose of wage and salary administration is to establish and maintain an equitable wage and salary structure. Wages and salaries are often one of the largest components of cost of production and such have serious implications for growth and profitability of the company. On the other hand, they are the only source of workers’ income. After the independence and particularly after 1948, some new terms relating to wages began to be used. These are: 1. Statutory Minimum Wages 2. Basic Minimum Wages 3. Minimum Wages 4. Fair Wages 5. Living Wages 6. Need Based Wages 1. Statutory Minimum Wages: By it we mean the minimum amount of wages which should essentially be given to the workers as per provisions of the Minimum Wages Act, 1948. 2. Basic Minimum Wages: This minimum wage is fixed through judicial pronouncement, awards, industrial tribunals and labour. The employers are essentially to give this minimum wage to the workers. 3. Minimum Wages: The concept of minimum wages has developed due to different standards in different countries. In Indian context, minimum wage means the minimum amount which an employer thinks necessary for the sustenance of life and preservation of the efficiency of the worker. According to Fair Wage Committee, the minimum wages must also provide for some measures of education- ...
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...Our present progressive income tax system requires a complete overhaul into a flat tax structure. Efficiency throughout all related markets would increase, reducing distortions, and creating greater than ever incentives to work and create capitalist opportunities. It also presents the potential of solving our country’s budget deficit issues. Our current system stymies innovation and the desire to persevere by forcing a higher tax bracket on those who earn more, causing more individuals to pursue avenues of evading taxation, either through legal or illegal means. Even though the flat tax appears as too burdensome to the poor – or as a contributing factor towards the establishment of a “black market” - a flat tax is simply a more equitable system that will solve the federal deficit issues in the United States. Efficiency would rise from five sources. The first is a change of the tax base from income to consumption. The second is the establishment of a more comprehensive tax base, which eliminates the differential tax treatment of various assets and forms of income. The third is the lowering of tax rates, which raises the rate of return to working, saving, and investing. It also reduces incentives to avoid or evade taxes. Next is the reduction of compliance costs , allowing companies to lower their budgets for record keeping return filing, the salaries and training of employees performing these tasks and the costs to obtain the advice of external accountants and tax...
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...Minimum wage has always been a controversial topic ever since the Fair Labor Standards Act took effect back in 1938. The goal Congress was trying to impose with the Fair Labor Law was to keep families out of poverty and to protect non-unionized workers in unskilled jobs. This law has failed us, being that the cost of living (rent, food, gas, taxes, utilities, healthcare, and transportation) continues to rise and the minimum wage stays at a plateau, resulting in parents not being able to provide all the necessities for their families. The United States should increase the minimum wage because the low wages are the cause for deteriorating health in American society; and the current minimum wage has more than 45 million people living below the poverty line. Raising the minimum wage would not only lift families out of poverty, but can also improve health outcome by increasing financial access to resources and opportunities. Americans living on minimum wage are more likely to experience adverse health outcomes, including higher rates of chronic illness and disability and lower life expectancies, because wages affect a person’s ability to access healthy foods. Low-wage workers are less likely to get decent health care because they cannot afford it. Low wages can cause stress because they may not know how they will pay rent...
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...sweat, I can only think to return to my room and sleep. I lost most of my time and energy just for a few dollars. There are a lot of people that work harder and earn less than me. The poor, especially less-skilled workers, has access only to “bad jobs at bad wages” (Blank 64). Those workers always face bad situation. They are poor. They are struggling to sustain the life of their families. On the contrary, the owners of the company where they work have a high standard of living. Bad wage is advantageous for the group of people known as traditional elites who own labor-intensive firms because it lowers production cost, thus increase the competitiveness of the product. For that reason, it is natural for the traditional elites to keep wage as low as possible. This action creates what Karl Marx wrote in The Communist Manifesto as ”naked, shameless, direct, brutal exploitation” (82). The minimum wage seems to be an appealing solution against these abusive exploitations. Applying a minimum wage law, government can force a wealth distribution among the owners and their lowest level workers. On Saturday, June 25, 1938, The U.S. Congress first instituted a minimum wage with the Fair Labor Standard Act. The minimum wage...
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