Free Essay

Qrb 501

In: Business and Management

Submitted By u2crewdawg
Words 1340
Pages 6
QRB/501 – Quantitative Reasoning for Business
University of Phoenix

Inventory Proposal This proposal is for a solution for an inventory problem within an organization. The details of the organization’s business operations are established and the problem identified so a potential solution may be formulated and proposed. The expected benefits to the organization are also examined as the motivation for implementation. Additionally, an inventory index is used to compare and contrast historical trends leading to the inventory problem and supporting evidence is presented through a histogram and slope-intercept calculations. Organization Vertical Entertainment (VE) is a fireworks wholesaler headquartered in Austin, Texas.
VE has been in business since 2005 and provides fireworks products through business-to-business and business-to-consumer channels. The organization’s key segments are the small-box retailers and fireworks display companies. The small-box retailers account for increased volume during the summer months (e.g. 4th of July) whereas the fireworks display companies purchase goods year-round. In recent years VE has expanded to direct sales via the company website. Inventory Problem VE purchases all firework inventories directly from China and they arrive in roughly 12 weeks. Product backorder usually result in lost sales because most events are time specific. The main inventory issue for VE is reducing stale inventory. Although stale inventory affects several key areas, the main focus is the effect on the company’s cash flow. Purchasing too much inventory and relaxed return policies results in 5% of VE product inventory to be stale.

Expected Benefits The goal of this proposal is to reduce stale inventory from 5% to 3% of the total inventory. This reduction will provide VE with much needed cash flow, increase the profit margin, and reduce seasonal temporary warehousing needs. Use of Indices as Vehicle for Solution
Indices are used to analyze changes in data overtime and to predict what causes the fluctuations. Companies use this information to estimate periods of increased sales and inventory needs more accurately. The University of Phoenix Summer Historical Inventory Data provided does not describe what the data is measuring or what the indices expect to forecast. When analyzing data any period may be used; however the only way the data is meaningful is to fully understand what the historic data is trying to predict or analyze.
For example, the Consumer Price Index (CPI) predicts the price of goods in relation to years past and measures inflation. In 2008 the CPI rose .1% and in 2009 the CPI rose 2.7%. 1982 is the base year used in calculating the indices for 2008 and 2009 (Thredgold, Jeff, 2010). This change shows a 2.6% increase in the price of goods in one year indicating the inflation rate. Information provided by the University of Phoenix does not state the units of measurement (e.g. inventory units or dollar amounts) necessary to analyze changes in the indices over time for the purpose of accurately forecasting future inventory.
For forecasting purposes some assumptions must be made. The first assumption is that the data provided is total inventory value in dollars. The second assumption is relative supply cost of inventory does not change from Year 1 to Year 5. Given these assumptions the data can be converted to indices and a forecast for Year 5 can be made from the University of Phoenix Summer Historical Data listed in Table 1 (University of Phoenix, 2010).
Table 1. Summer Historical Inventory Data. Inventory Data | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Month 1 | 18,000 | 45,100 | 59,800 | 35,500 | 31,536 | Month 2 | 19,800 | 46,530 | 30,740 | 51,250 | 46,754 | Month 3 | 15,700 | 22,100 | 47,800 | 34,400 | 32,419 | Month 4 | 53,600 | 41,350 | 73,890 | 68,000 | 39,577 | Month 5 | 83,200 | 46,000 | 60,200 | 68,100 | 45,040 | Month 6 | 72,900 | 41,800 | 55,200 | 61,100 | 41,454 | Month 7 | 55,200 | 39,800 | 32,180 | 62,300 | 39,613 | Month 8 | 57,350 | 64,100 | 38,600 | 66,500 | 46,856 | Month 9 | 15,400 | 47,600 | 25,020 | 31,400 | 33,385 | Month 10 | 27,700 | 43,050 | 51,300 | 36,500 | 37,759 | Month 11 | 21,400 | 39,300 | 31,790 | 16,800 | 15,355 | Month 12 | 17,100 | 10,300 | 31,100 | 18,900 | 18,000 |

Table 2. Vertical Entertainment Inventory Index. Inventory Index | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | Average | Month 1 | 100 | 251 | 332 | 197 | 175 | 1055 | 211 | Month 2 | 110 | 259 | 171 | 285 | 260 | 1085 | 217 | Month 3 | 87 | 123 | 266 | 191 | 180 | 847 | 169.4 | Month 4 | 298 | 230 | 411 | 378 | 220 | 1537 | 307.4 | Month 5 | 462 | 256 | 334 | 378 | 250 | 1680 | 336 | Month 6 | 405 | 232 | 307 | 339 | 230 | 1513 | 302.6 | Month 7 | 307 | 221 | 179 | 346 | 220 | 1273 | 254.6 | Month 8 | 319 | 356 | 214 | 369 | 260 | 1518 | 303.6 | Month 9 | 86 | 264 | 139 | 174 | 185 | 848 | 169.6 | Month 10 | 154 | 239 | 285 | 203 | 210 | 1091 | 218.2 | Month 11 | 119 | 218 | 177 | 93 | 85 | 692 | 138.4 | Month 12 | 95 | 57 | 173 | 105 | 100 | 530 | 106 |

The index in Table 2 uses the Inventory Data from Year 1, Month 1 as the base to create each index value for Year 1 through Year 4. These indices are then plotted annually and by quarters in Tables 3.1 – 3.5 and the slope-intercept is used to establish the trend for forecasting Year 5 as shown in Table 2. The five years are then totaled by month and averaged to show the months of highest and lowest volume, May and December respectively. Isolating the months of highest and lowest volume allow the organization to plan ahead when purchasing future inventory, predict the month of greatest excess inventory, and thus potentially reduce excess stale inventory.
Table 3.1. Annual Indices with Negative Slope.

Table 3.2. First Quarter Indices with Positive Slope.

Table 3.3. Second Quarter Indices with Negative Slope.

Table 3.4. Third Quarter Indicies with Negative Slope

Table 3.5. Fourth Quarter Indicies with No Slope

Forecasting Future Inventory Cost Finally, the organization can use the future indices to forcast the future cost of inventory each month based on the earlier assumption, relative supply cost of inventory does not change from year one to year five, by using the formula: Dollars at time A = Dollars at time O * (Index at time A/Index at time O) for each month as represented in year five of Table 1 (Sevilla & Somers, 2007, p. 136). Additional information is obtained from the histogram in Table 4.2 created by the frequency of indices as represented in Table 4.1. This graph shows the mean to be 226 and the standard deviation to be 94. The histogram also shows that the data is skewed rather than a normal distribution indicating months of lower inventory scattered throughout the year (Sevill & Somers, 2007, p. 293).

Table 4. Frequency Range of Indices for Summer Historical Inventory Data. Table 4.2. Histogram of Indices for Summer Historical Inventory Data. In conclusion, stale inventory is reduced by analyzing historical inventory data and forecasting future need. The inventory data converted into an index shows the respective change in inventory from month to month and year to year. This index is then plotted and represented in the form of a histogram to show times of increased and decreased inventory volume. Finally, forecasting future cost of inventory allows the organization to predict times of excess inventory and more accurately order product reducing the amount of stale inventory.

References
Sevilla, A. A. & Somers, K. 2007. Quantitative Reasoning. Tools For Taday’s Informed Citizen. Published by Key College Publishing, an imprint of Key Curriculum Press.
Thredgold, J. (2010, March ). Springtime Update The American Economy-Still Fighting Headwinds. Enterprise/Salt Lake City, 39(41), 12.
University of Phoenix. 2010. University of Phoenix Material: Summer Historical Inventory Data. Retrieved February 20, 2012 from the UOP database.

Similar Documents

Premium Essay

Qrb Final

... Reasoning for Business 2 Quantitative Reasoning for Business Upon first glance at the Quantitative Reasoning for Business Overview, I was initially like a deer caught in headlights. What did I sign up for? But after research, I found out that my reaction was not unusual for nonmathematical majors. If you haven’t noticed yet math was not one of my favorite courses. However, upon further review the QRB is essential in preparing for future courses in economics, finance, accounting, operations and research. QRB focuses on practical applications of mathematics, in college, career and life. The QRB topics include, for example, income taxes, statistical reasoning, mathematics, voting theory, and exponential growth. Using and understanding the QRB will assist me in being successful in math in the rapidly changing workforce. The QRB should improve my critical thinking and problem solving skills. It also should prepare me to identify and intelligently face problems that I may encounter in my daily life that require quantitative reasoning. “With quantitative reasoning skills, one can integrate deductive logic aspects from multiple knowledge dimensions into program evaluation and research” (Patton, 1990). With quantitative analysis, it is especially important to understand the units of measurement in comprehensible formats, such as visual......

Words: 329 - Pages: 2

Premium Essay

Finance 501

... TUI UNIVERSITY Module 2 SLP Assignment FIN 501 March 6, 2014 Buying a $100,000.00 Michael Kor's Corporate Bond The purpose of this second SLP's assignment is to take the previously learned concepts of Time Value of money and then decide how much I would personally be willing to pay for a $100,000.00 bond from Michael Kor's. I will explain my thought process by taking into consideration my own personal risk preferences, interest rates, inflation and what the probability of being paid back might be. Next, a discussion about what the discount rate for $100,000.00 Kor's bond will be explained by using the present value formula from the background readings . In addition to that two other companies (Ralph Lauren and Coach) which are in the same industry will be compared by putting their key stats in a side by side excel chart that will be color coded below. The chart will begin with Ralph Lauren to the left as the company that I would pay less for and Kors will be in put in the center as the one I will pay par for and Coach will be on the right end as the company I would be willing to pay a more for. A conclusion will be made by including which company will be the safest investment. Kors: Beginning with the all the key stats about my chosen company (Kor's ) listed in the center of the excel spreadsheet and the fact that I am a speculative investor I would personally be willing to pay par value for their $100,000.00 bond and will explain my reasons following the......

Words: 1127 - Pages: 5

Premium Essay

Qrb/ 501 Capital Budget

...Capital Budgeting Case Business decision involve calculated risks and good understanding of capital budgeting. In the process of deciding to start a new project or to acquire a new business, the focus is usually on the free cash flows measurements, which often are derived from the capital-budgeting proposal. Determining the profitable projects requires comparing the cash flows over a few years, preferably five, where the Net Present Value and the Internal Rate of Return are compared to indicate profitability. Even though these financial tools are extremely valuable in determining profitable projects, many businesses overlook the process entirely and make decisions often with dire consequences. Business Inc. are considering purchasing another corporation. Our team researched businesses that were available for acquisition. Financially we could afford no more than $250,000. Upon our investigation two potential companies were identified, we shall call them “Company A” and “Company B” at this time. Both companies have great promise and potential, however, we are in the position of choosing only one of the two companies. The best and most valid way to determine which of the two companies will be chosen is to conduct a capital budget scenario of each. Appendages to this document is the excel spreadsheets to document our findings. In both companies we were given financial information that aided us in conducting a five-year projected income statement, a five-year......

Words: 992 - Pages: 4

Free Essay

Nsg 501

...NSG 501 – A&P GI - Article Summary #1 January 17, 2015 Reference Cope, G. (2013). Understanding smoking and nicotine effects on the gastrointestinal tract. Gastrointestinal Nursing, 11(1), 44-48. Summary Smoking remains a large problem worldwide with approximately one-quarter of the global population using tobacco products despite the worldwide campaign aimed to reduce tobacco use. Smoking and, more specifically, nicotine have many well-documented health impacts such as lung cancer and heart disease. However, the purpose of this article is to present the implications of smoking and nicotine on the gastrointestinal (GI) system. The author describes systematically how smoking and nicotine affect the stomach, small intestine, and colon as well as the causative agents that damage and protect the GI tract and their mechanisms of action. Research Methodology The information presented by the author in this article came from a literature review. The author gleaned relevant data from nursing and medical research to offer the currently understood consequences of smoking and nicotine use on the GI system. Application to Gastrointestinal A&P The author describes the anatomy, physiology, and pathophysiology of the GI tract as it pertains to smoking and nicotine. What Did I Learn Within the stomach, smoking has been shown to prevent the production of bicarbonate ions by reducing prostaglandin synthesis, which controls bicarbonate secretion. Bicarbonate...

Words: 558 - Pages: 3

Premium Essay

Qrb 501 Week 5 Contemporary Wood Furniture

...a++paper;http://www.homeworkproviders.com/shop/qrb-501-week-5-contemporary-wood-furniture/ QRB 501 WEEK 5 CONTEMPORARY WOOD FURNITURE Week 5 Learning Team Case Studies Complete the following case studies from Ch. 21 of Business Math: Case Study 21-1, p. 768 Case Study 21-2, p. 769 Create your own Microst Excel worksheet and format it to answer your questions. Note. Show all work and calculations. (The use of Microsoft® Excel® software is required.) …………………………………………………………………………… 21.1 Contemporary Wood Furniture Case Study 21-1, p. 768 Charles Royston was checking the year-end balances for his wood furniture manufacturing and retail business and was concerned about the numbers. From what he remembered, his debts and accounts receivable were higher than the previous year. Rather than get worked up over nothing, he decided he would gather the information and make a comparison. For December 31, 2011, the business had current assets of: $1,844 cash, $11,807 accounts receivable, and $9,628 inventory. Plant and equipment totaled $158,700. Current liabilities were: accounts payable $13,446; wages payable $650; and property and taxes payable $4,124. Long-term debt totaled $92,800 and owner’s equity $70,959. By comparison, for December 31, 2010, the business had current assets of: $3,278 cash; $6,954 accounts receivable; $17,417 inventory. Plant and equipment totaled $144,500. Current liabilities were: accounts payable $9,250; wages......

Words: 325 - Pages: 2

Premium Essay

Qrb 501 Week 2 Learning Team Case Studies

...QRB 501 WEEK 2 LEARNING TEAM CASE STUDIES A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=qrb-501-week-2-learning-team-case-studies Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION QRB 501 Week 2 LEARNING TEAM CASE STUDIES. 5-2 Artist’s Performance Royalties Question One The first question was a little unclear as to whether Ziam would be splitting his royalties with a performer and publisher, absent this information a formula was provided for both. This clarification was the only barrier to providing the answer. Questions Two- Four The team did not have any issues answering the questions, the case study provided more than enough information to determine the known factors. The check formulas provided were very helpful and prove to be quite useful tools. The formulas were easy to follow and the tools provided were essential to solving the equations. 6-2 Customer Relationship Management Question One There were not any issues with the answer to question one. The team was able to find the total number of subscribers by adding all of the customer groups together (i.e. PS+AD+TC+ISP=TOT). After finding the total the team was able to then find what the percentage of each of the four customer groups were. This was completed by dividing the number of subscribers within each group by the overall number of customers (i.e. PS/TOT, AD/TOT, TC/TOT and ISP/TOT). Question Two This question was a bit tricky, because of......

Words: 466 - Pages: 2

Premium Essay

Qrb 501 Week 3 Leaning Team Case Studies

...QRB 501 WEEK 3 LEANING TEAM CASE STUDIES A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=qrb-501-week-3-leaning-team-case-studies Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION QRB 501 WEEK 3 LEANING TEAM CASE STUDIES 8-3 The Artist’s Palette Question One The team obtained the trade discount for each supplier and used it to determine the Net List Price for each supplier. The List Price less the trade discount provided the Net List Price. We then compared the two prices to determine that Parma would save $3.87 if they purchase from supplier two. The team did not experience issues completing this question. Question Two The team did not have any issues with this question. The team was able to easily calculate the net decimal equivalent by first finding the complement of each of the discount rates for each supplier (20/10/5 and 18/12/7). To do this the team subtracts each of them from 100% (i.e. 100-.20=.80). After this we multiplied each of the complement to find the net decimal equivalent (i.e. .80*.90*.95=.684). Question Three After finding the net decimal equivalent in question two, the team was able to multiply that number by the Parama minimum supply purchase price of 300 by (1-the net decimal equivalent) to find the trade discount. The team had to place a formula under the nde cell so the template would calculate the correct trade discount. There were no further issues with this problem. Question......

Words: 519 - Pages: 3

Premium Essay

Qrb 501 Week 4 Standard Deviation

...QRB 501 WEEK 4 STANDARD DEVIATION A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=qrb-501-week-4-standard-deviation Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION QRB 501 week 4 Standard Deviation, Standard Deviation Introduction Standard deviations (SD) and variance are commonly used statistical tools that measure dispersion, risk, and predict certain outcomes in the business world through data. Through decades of academic research, investors and businesses have settled on standardized norms or patterns for various types of calculations, using standard deviations. Data sets, like mean or median, are manipulated to make an inference. This abstract will highlight five articles where the SD is assimilated in mixt conditions or settings. Each article will classify the purpose, any research questions, hypothesis, and the main findings. What to Use to Express the Variability of Data: Standard Deviation or Standard Error of Mean? Statistics is a major element in any industry, failing to provide adequate information to the reader can easily mislead the receivers. Therefore, using the correct highlights to display the variability of data, can minimize error and clarify any study. According to Barde (2012), “It is depressing to find how much good biological work is in danger of being wasted through incompetent and misleading analysis” (p. 113). Case in point, this experiment was based on the hypothesis that......

Words: 466 - Pages: 2

Free Essay

Ncm 501 Slp 2

...The Source of the NFL LOCKOUT Colin Quinn NCM 501 SLP 2 Trident University BACKGROUND AND SETTINGS The National Football League (NFL) experienced its first work stoppage since 1987 when the owners locked out the players that make up the National Football League Players Association (NFLPA) on March 12, 2011 (Judge, 2011.) The lockout was set in motion when the owners exercised there option to opt out of the collective bargaining agreement (CBA) on May 20, 2008 causing the CBA to expire on March 3, 2011 (NFL, 2008.) The Intra-organizational conflict the owners had was the revenue sharing of $9.3 billion the league generated annually. The owners claimed that because of inflation and the increased costs of utilities that the $1 billion credit off the top of the revenue was just not enough to sustain revenue growth and wanted the credit to be increased to $2.4 billion. This meant that the players needed to take an 18% cut of the revenue share to give the owners what they want. In addition the owners wanted to increase the regular season by two games by decreasing the preseason from four games to two games, which the players clearly did not want. Finally, both sides wanted to implement a rookie wage scale but disagreed on how to redistribute the money saved on rookie wages (Oestmann, 2011.) These conflicts in negotiations, along with the owners and NFLPA’s inability to come to a new agreement before the expiration of the CBA forced the owners to lockout their players from......

Words: 1170 - Pages: 5

Premium Essay

Acct 501

...Case 1 Understanding Financial Statements By Robert Kimble ACC 501 Dr. Tara Murphy August 29, 2011 In this paper, we are going to take a look at three companies and compare their 2010 income statement in regards to total revenues, operating income and net income. We are also going to review some financial terms and concepts that can affect how the data in their income statement is presented. After looking at some terms and how they are used, we will make some comparisons and reach some conclusions about those same companies. Lastly, we will look at how we compared and contrasted information in the income statement. So let’s get this paper started by taking a look into all three companies and we will start with Apple Incorporated. According to Apple’s company perspective, “Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings.” Now let’s look at Swatch, according to Swatch it, “is the world's leading supplier of watch movements and finished watches, accounting for as much as 25 percent of total world production, while capturing more than ten percent of all watch sales. The Swatch Group is more than its flagship Swatch brand--which alone accounts for half......

Words: 1106 - Pages: 5

Premium Essay

Mgnt 501

...TRIDENT UNIVERSITY Module 1 Case Assignment MGT 501: Management and Organizational Behavior Dr. August 17, 2011 ABSTRACT  Has anyone ever really been satisfied with their chosen job, career choice, and an anticipated promotion or being bored with certain levels of achievement? It is difficult dealing with employee’s attitude and wondering if he or she is or is not satisfied on the job and also wondering if his or her level of motivation toward success is being achieved to produce at the level the company needs to succeed. These areas are studied in what is called the three gaps between HR practice and the scientific research in the area of employee attitudes in general and the most focal is employee attitude in particular what promotes job satisfaction. I will attempt to explain the three gaps described in HR practices according to the article by Lise M. Saari titled “Employee Attitudes and Job Satisfaction” are the causes of employee’s attitudes, the results of positive or negative job satisfaction, and how to measure and influence employee attitudes. This paper will also explain how and to which extent research on job satisfaction resolves each of the three gaps, and I will use at least two examples to show where do the gaps still exist and how future research on job satisfaction can help to close these gaps? GAP ONE: ATTITUDES The dispositional influence correlates to Maslow’s theory of an individual needs. Other than the principles needs of a human...

Words: 1718 - Pages: 7

Premium Essay

Qrb 501 Week 5 Contemporary Wood Furniture

...QRB 501 WEEK 5 CONTEMPORARY WOOD FURNITURE To purchase this tutorial visit here: http://wiseamerican.us/product/qrb-501-week-5-contemporary-wood-furniture/ contact us at: SUPPORT@WISEAMERICAN.US QRB 501 WEEK 5 CONTEMPORARY WOOD FURNITURE Week 5 Learning Team Case Studies Complete the following case studies from Ch. 21 of Business Math: • Case Study 21-1, p. 768 • Case Study 21-2, p. 769 Create your own Microst Excel worksheet and format it to answer your questions. Note. Show all work and calculations. (The use of Microsoft® Excel® software is required.) 21.1 Contemporary Wood Furniture Case Study 21-1, p. 768 Charles Royston was checking the year-end balances for his wood furniture manufacturing and retail business and was concerned about the numbers. From what he remembered, his debts and accounts receivable were higher than the previous year. Rather than get worked up over nothing, he decided he would gather the information and make a comparison. For December 31, 2011, the business had current assets of: $1,844 cash, $11,807 accounts receivable, and $9,628 inventory. Plant and equipment totaled $158,700. Current liabilities were: accounts payable $13,446; wages payable $650; and property and taxes payable $4,124. Long-term debt totaled $92,800 and owner’s equity $70,959. By comparison, for December 31, 2010, the business had current assets of: $3,278 cash; $6,954 accounts receivable; $17,417 inventory. Plant and equipment totaled $144,500.......

Words: 651 - Pages: 3

Premium Essay

Qrb Statisitics

...QRB/501 Final Exam | User | 9018561413 | First Name | VALERYE | Last Name | ROGERS | Confirmation # | 20708496 | Score | 47.22 | Total Questions: | 36 | Total Correct | 17 | Start: | 5/20/2012 10:30:57 AM | End: | 5/20/2012 11:48:46 AM | Here is some additional information on items you missed: Topic: [New Question] Topic: Write mathematical expressions and equations for word problems. Readings: Refer to Week One materials | Topic: [New Question] Topic: Write mathematical expressions and equations for word problems. Readings: Refer to Week One materials | Topic: [New Question] Topic: Apply the rules for order of operations, including exponents, in solving problems. Readings: Refer to Week One materials | Topic: [New Question] Topic: Apply the rules for order of operations, including exponents, in solving problems. Readings: Refer to Week One materials | Topic: [New Question] Topic: Identify dependent and independent variables and their relationships. Readings: Refer to Week One materials | Topic: [New Question] Topic: Identify dependent and independent variables and their relationships. Readings: Refer to Week One materials | Topic: [New Question] Topic: Solve simultaneous equations algebraically. Readings: Refer to Week Two materials | Topic: [New Question] Topic: Solve simultaneous equations algebraically. Readings: Refer to Week Two materials | Topic: [New Question] Topic: Convert data to indices. Readings: Refer to......

Words: 359 - Pages: 2

Free Essay

Week 4 Qnt 501

...Michael Rathburn Week 4 QNT 501 – Individual Assignment Dr. Louis Daily January 22, 2009 In the following situations, decide whether you would use a personal interview, telephone survey, or self-administered questionnaire. Give your reasons. a A survey of the residents of a new subdivision on why they happened to select that area in which to live. You also wish to secure some information about what they like and do not like about life in the subdivision. For the new subdivision, I would recommend that a telephone survey is used because it is relatively cost efficient, the sampling pool is probably full of people that are at home during the same time in the day, and it would allow the residents to share their personal preferences about the subdivision. Also, because there is not a standard set of desired answers, the telephone interview would be the most effective data collection method. When compared to either personal interviews or mail self-administered surveys, the use of telephones brings a faster completion of a study, sometimes taking only a day or so for the fieldwork. When compared to personal interviewing, it is also likely that interviewer bias, especially bias caused by the physical appearance, body language, and actions of the interviewer, is reduced by using telephones. Finally, behavioral norms work to the advantage of telephone interviewing. If someone is present, a ringing phone is usually answered, and it is the caller who decides the purpose,......

Words: 982 - Pages: 4

Premium Essay

Qrb 501 Chapter 3 Page 174 Problems 51-54

...CHAPTER 3 PAGE 174 PROBLEMS 51-54 Relating Concepts For Individual or Group Work A formula that has many uses for drivers is, called the distance formula. If you are driving a car, then d is the distance you travel (how many miles) r is the rate (how fast you are driving in miles per hour) t is the time (how many hours you drive). Use the distance formula as you work Exercises 51–54 in order. d = rt 51. Suppose you are driving on Interstate highways at an average rate of 70 miles per hour. Use the distance formula to find out how far you will travel in (a) 2 hours; (b) 5 hours; (c) 8 hours. A.) d = rt d= 70 mph x 2 hours d= 140 miles B.) d = rt d=70mph x 5 hours d= 350 miles C.) d = rt d = 70 mph x 8 hours d = 560 miles 52. If an ice storm slows your driving rate to 35 miles per hour, how far will you travel in (a) 2 hours, (b) 5 hours, (c) 8 hours? Show how to find each answer using the formula. (d) Explain how to find each answer using the results from Exercise 51 instead of the formula. A.) 35mph x 2 hours = 70 miles B.) 35mph x 5 hours = 175 miles C.) d = 35mph x 8 hours = 280 miles D.) Multiply the hours traveled by the miles traveled per hour. 53. Use the distance formula to find out how many hours you would have to drive to travel the 3000 miles from Boston to San Francisco if your average rate is (a) 60 miles per hour; (b) 50 miles per hour; (c) 20 miles per hour (which was the speed......

Words: 582 - Pages: 3