...Western Governors University Economics and Global Business Task 2 Egt1: Task 2 A) Elasticity of demand is describes as the degree of percentage change in demand for a good or service due to variation in price. Elasticity measurements can be expressed by three types of demand; inelastic demand, unit elastic demand, or relatively elastic demand. To determine the percentage of change in demand for a product or service the price elasticity equation and coefficient are used. The coefficient Ed is defined as “the percentage change in quantity demanded of product divided by the percentage change in price of product X” (McConnell, Brue, Flynn, 2012, pg. 76) The three expressions of Ed are Elastic, Inelastic, and Unit Elasticity. Elastic demand occurs “if a specific percentage change in price results in a larger percentage change in quantity demanded” (McConnell, Brue, Flynn, 2012, pg. 77). For a product with inelastic demand Ed < 1. An example of elastic demand is when there is a 2% decrease in the price of chocolate that results in a 6% increase in quantity. Ed= .06/.02 = 3 Inelastic demand occurs “if a specific percentage change in price produces a smaller percentage change in quantity demanded.”(McConnell, Brue, Flynn, 2012, pg. 77) For products with inelastic demand Ed <1. An example of inelastic demand is when there’s a 2% decrease in the price of milk that results in a 1% increase of demand. Ed= .01/.02 = .5 Unit elasticity of demand occurs “where a percentage...
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...Running Head: EBT TASK 2 1 Research Integration EBT Task 2 Western Governor’s University EBT TASK 2 2 Review and Classification of Evidence Source Type Appropriate Type of (American Academy of Pediatrics; American Academy of Family Physicians, 2004) or inappropriate Filtered Appropriate: This article establishes diagnosis and management guidelines for the treatment of AOM. Additionally, the authors make recommendations regarding treatment options for the symptoms of AOM and address the concept of watchful waiting as opposed to immediate antibiotic therapy. Recommendations are provided for clinical practice and were created using a systematic review of clinical research, making it an ...
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...NBT1 Task 1 Positive Social Interaction: In a 6th Grade classroom social interaction has to be promoted in a positive way. The homework policy described in scenario 2 encourages social interaction by requiring the students to speak with their teacher before turning in late assignments. The topics of discussion will allow the student to discuss with the teacher why they are turning it in late, and what they can do to avoid late work in the future. The word discussion is important in scenario number 2. The fact that the students are allowed to discuss the late homework with their teacher, teaches them some great social skills. Taking responsibility sometimes includes face to face interaction with real people. It is much easier to slide late work in under the table when you don’t have to interact with anyone, but with this homework policy no student is able to do that. The other part of Scenario two’s homework policy that promotes social interaction is the pickup work policy. The students are taught during the first part of school what the policy is, and they know what is expected of them. Having to meet with the teacher and explaining why you are not following polices, promotes good social interaction. In Junior high it is often a problem that students are afraid to speak with a teacher about anything. Teaching students in the 6th grade how easy, and important it is to maintain an open dialogue with the teacher will help them find the courage to talk to a teacher...
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...EST 1 Carlye Chandler EST 1 Task 2 297235 310.2.3-08 A. Standards and Procedures Company X values each and every employee and has selected each one to represent this company to perform daily business responsibilities as ethically as possible while utilizing their personal integrity. The following Code of Conduct has been implemented to serve as a guideline for all employees to follow while performing their everyday assigned job duties at our company. The requirement of our company is to always conduct ourselves ethically. The framework for ethical behavior is contained throughout this Code of Conduct. Following this code demonstrates that the employee has a complete understanding of Company X’s expectations of them and exudes ethical behavior. Every employee is expected to know our Code of Conduct and observe it with the highest standards of ethics and integrity in their conduct, as failure to do so, will result in immediate disciplinary action. 1. Employees shall treat all coworkers, management and customers with dignity and respect. Always be kind to others. 2. Employees must always be honest, sincere, and forthright. The success of our company is dependent on trust from everyone employed with us. 3. Employees are expected to always conduct themselves with professionalism and in a businesslike manner. Drinking, drugs, using profanity, fighting, and similar unprofessional activities are strictly prohibited while on the job. 4. Sexual harassment...
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...Course ID: EGT 1 Task 2 Task: Section A When discussing elasticity of demand we discover three major terms. When company A reduces the given unit price and the consumer reacts by purchasing larger quantities, which in turn creates an increased profit margin, we term this elastic meaning the increased demand percentage change in quantity is greater than the change in price percentage. Given the same scenario and consumer purchases increase, but not enough to cause a gain in revenue, instead it creates a loss in revenue, we call this inelastic demand. Unit elasticity can occur from the same scenario when the increase consumption causes revenue to remain the same with no increase or decrease. = The coefficient is what economist use to measure elasticity or inelasticity. Section B Cross elasticity of demand measures the sensitivity of consumer purchases. It shows the effect of price changes to consumer purchases. Example product X has price percentage change, which cause a percentage change in purchase quantity of product Y. = When we talk about cross price elasticity as it pertains to substitute goods, we can use the example of Coke and Pepsi. If the price of Coke is raised 15%, the consumption of Pepsi will go up in reaction. Pepsi would be considered a good substitute. This would be considered a positive cost elasticity for Pepsi because of the increase in sales; meaning that the sales of one product moves is the same direction as the change in price of another. In short...
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...1. According to Little’s law, under process 1, the average processing time would be 500 / 1000 = 0.5 month or 0.5*30 = 15 days. Under process 2, the average requests undergoing processing is LIR + LA + LB = 375. So, the average processing time is 375 / 1000 = 11.25 days. Therefore, the average processing time was reduced. For approved requests, we can calculate the average processing time as (200*0.25*0.7 + 200*0.25*0.10 + 25*0.7 + 150*0.10) / 200 = 0.3625 = 10.875 days. Hence, we see that the processing time for approved requests did improve. 2. According to the critical path method the first step should be to identify the different activities. In this case we have 15 weeks in the semester, to complete the whole 15 cases. Description Read Case Gather Data Search Literature Load in Data Run Computer Analysis Write/type case Time (days) 1 4 3 1 4 4 Precedence None Read case Read Case Gather Data Load in Data Search Literature & Run According to the critical path developed Task 1, 2 and 3 would take 3 week to finish, task 4 and 5 would take another week to finish and task 6 takes 1 more week to finish. In conclusion the whole project would take approximately, 14 weeks to finish...
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...Nathan Uffens EST 1 Task 2 1.Company X has a high code of ethics. These standards are what we expect our employees to follow: a.Dress Code: All employees must wear uniforms that consist of black dress slacks, Polo Shirt (Choice of 3 Colors), black shoes (No logos, or additional colors visible). Company to provide slacks and polo shirts. Visible body piercings are not allowed, except for earrings. Hair must be clean and well kept. Hair Coloring must de natural hues. Visible tattoos must be covered by clothing or by other means. b.Attendance: All employees are to work their scheduled shifts. If you are going be absent or late for work, you must notify your supervisor at least two hours before the start of your scheduled shift. c.Mobile Devices: Personal electronics such as cell phones, tablets, laptops may not be used while at work, unless required for work purposes. Mobile devices may be used during breaks and before and after shifts just not in public areas. d.Internet: All company computers that have internet access are to be used for official company business only. Employees may not use the internet for personal use, i.e. social media. 2.Company X has an extensive training program to make sure that its employees understand what is required of them during their employment. These trainings happen on frequent bases. Three specific Components for an ethics training program. a.Frequency of Trainings: The Training of ethics...
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...Supply Chain – JCT2 Task 1 Roy C. Vasel Student ID 000298533 Business Simulation for OutFront Computers A. Business financial documents from simulation | | |Cumulative industry results for last four quarters ending in quarter: 4 | | |Minimum |Maximum |Average |OutFront Computers | |Financial Performance |-47.33 |171.31 |1.98 |44.29 | |Market Performance |0.00 |0.60 |0.03 |0.58 | |Marketing Effectiveness |0.00 |0.81 |0.05 |0.75 | |Investment in Future |0.00 |38.98 |0.17 |1.39 | |Wealth |-0.57 |4.26 |0.11 |1.74 | |Human Resource Management |0.00 |0.82 |0.06 |0.78 | |Asset Management |0.00 |2.10 ...
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...LIT1 - Task 2 Mark J. Fortenberry May 9, 2015 LIT1 - Task 2 Company X has reported three situations that have occurred that require investigating. Since employment and hiring practices are a part of my duties here at Company X, I have been charged with the investigation into these situations. In the subsequent report, the laws that companies must abide by will be outlined and how these laws affects the outcome in each of these three situations. The Family and Medical Leave Act of 1993 is one that ties in heavily to the first situation. “The Family and Medical Leave Act (FMLA) provides certain employees with up to 12 weeks of unpaid, job-protected leave per year” (Solis, N.D.). This leave must be for the birth and care of a newborn, placement of an adoption, to care for an immediate family member, or for an employee that has a serious health condition. For qualification, an employee must have at least 12 months of continuous employment with 1,250 hours worked within that 12 months. This issue involves said Company X and an employee that will be identified as Employee A. Under the FMLA, both company and employee must meet the requirements under the law. As an example, Company X must have at least 50 employees, while in reality, the company has over 75 employees. Employee A needs to have worked for Company X for at least 12 months and at least 1250 hours within that 12 months; the employment length for Employee A has been 24 months and met the hourly...
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...EGT1 Task 2 A Define the following three terms A1. Elasticity of Demand is the consumers response or sensitivity to a change in price. It is classified as elastic, inelastic, or unit elasticity. Elastic demand is when a specific percentage change in price results in a larger percentage change in quantity demand. Inelastic demand is when a specific change in price produces a smaller percentage change in quantity demand, Unit elasticity is when the percentage in change in price is the same as the percentage change in demand. A2. Cross Elasticity of Demand is the ratio of percentage change in quantity demand of one good to the percentage in the price of some other good. A positive coefficient indicates the tho products are substitutes a negative coefficient indicates the two products are complementary. A zero or near zero cross elasticity means the products are considered independent. A3.Income Elasticity of Demand is the ratio of the percentage change in the quantity demand of a good to a percentage change in consumer income; it measures the responsiveness of consumer purchases to income changes. A positive coefficient means more of the product is in demand as income rises, they are known as normal goods. A negative coefficient mean purchasing of a product decreases as income rises means the product is an inferior good. B. Explain the elasticity coefficients for each of the three terms defined in part A. B1. Elasticity of Demand. If the coefficient is greater...
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...LB5002:03 – DATA MANAGEMENT AND INFORMATION TECHNOLOGY CO5111:03 – BUSINESS INFORMATION SYSTEMS Assignment 1: Emergent Technologies The purpose of this assignment is to introduce and familiarise students with examples of emerging information technologies and concepts. Assignment 1 consists of two tasks. TASK 1 (5%) Task 1 is an individual task. In this task, each student is required to conduct research on emergent information technology topics. Students are then required to post at minimum of two topics they have researched on the LeanJCU discussion board. TASK 2 (25%) Task 2 is a group assignment with students working in groups of two or three. Each group will select an emergent technology topic from the posted list from task 1. Each group will then write a report and a presentation on the selected topic. The composition of each group will be confirmed and finalised on Session 2 (Townsville – Saturday, 29/10/07, Cairns – Sunday, 7/10/07). Required for task 2: Task 2 involves a group presentation and a written report on the selected emergent technology topic. Both the presentation and report should highlight today’s capabilities of the selected emergent technology by: • • • • • • Describing the technology, its features and functionality (not technical components); describing how organizations can potentially use the technology to improve business performance; describing how organizations are currently using it; identifying issues and risks managers that should know about;...
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...LCT 1 Task 2 Part A January 10, 2015 The “other” is an individual or group who does not fit the expectations or model of the power group. They are seen as insufficient, inferiors; they do not deserve to belong to the group. There are different reasons for that: different race, religion, nationality, sexual orientation and many more. Does it mean that they are a minority? No. Sometimes an entire country or community can be considered the other. Sometimes, and this is my personal opinion, being the other can be in your mind, the group accepted you and included you but in your mind you are still aware of the differences and second guess every act of friendship from the group. Part C Identify who the other is in this work. The other in this work is Melissa Algranati, the author. As she puts it, “there are not too many Puerto Rican Egyptian jews out there. “So the only category left for her on the census form is “other” (Algranati, 2010) Explain what or who makes them other The fact that in America there is not as many Puerto Rican, Egyptian Jews makes her the other. “When I was young I did not realize that I was unique, because my family brought me up with a healthy balance of Puerto Rican and Sephardic customs.” “I did not understand how a country built on the concept of diversity could forget about its most diverse group, inter-ethnic children. I felt lost in a world of classification. The only way for me to take pride in who I am was to proclaim myself as an other”...
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...EGT 1: Task 2-309.1.2-08 & 09 Elasticity of demand is the relationship between the demands for a product with respect to its price. Generally, when the demand for a product is high, the price of the product decreases. When demand decreases, prices tend to climb. Products that exhibit the characteristics of elasticity of demand are usually cars, appliances and other luxury items. Items such as clothing, medicine and food are considered to be necessities. Essential items usually possess inelasticity of demand. When this occurs prices do not change significantly. “The Cross-price elasticity of demand measures the rate of response of quantity demanded of one good, due to a price change of another good” (Economics.about.com, 2013). When two similar products are present they are considered to be substitutes for each other. For example, say you have Coke and Pepsi. When the price of Coke rises so will the increased demand for Pepsi and other like products. This is considered to be a positive relationship. The relationship is negative when you have two products that complement each other. For example, say the price of a car increases. When price escalates the demand for tires, its complementary product, will decrease. Income elasticity is a way that economists measure the level that people act in response to changes in their income that may effect the consumer purchasing more or less of a product. This form of measurement helps to classify products as inferior...
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...Financial Analysis Summary Report Task 1 Competition Bikes Incorporated Lisa A Castro, MSW Western Governors University Horizontal Analysis (A. 1. a) A horizontal analysis can be defined as “the study of percentage changes in comparative statements” (Charles T. Horngren, 2008, p. 746). It is useful in determining a company’s financial stability. This section will analyze Competition Bikes Incorporated’s (CBI) percentage changes from years 6 to 7 and then 7 to 8. The report will include an analysis of CBI’s comparative income statement and balance sheet. Between years 6 and 7 CBI’s Net Sales increased by 33.3% for a change of $1,495,000. The increase of 33% indicates strength for the company because it means that the company has become more profitable. This also indicates that demand for CBI’s product has increased and that their marketing strategies have been more successful. It is good news for the shareholders because more profits means more revenue. Between years 6 and 7 CBI’s Cost of Goods Sold increased by 31.8% for a change of $1,048,000. Even though the Cost of Good Sold increased significantly it is still less than the Net Sales increase of 33.3%. This resulted in a Gross Profit of 37.5% or $447,000. This indicates strength for CBI, as the management was able to control their costs to turn a profit on the increased sales. This is also a positive for the shareholders because increased profits mean more revenue for the shareholders. Between...
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...Horizontal analysis results Horizontal analysis compares the company’s finances over several years, with a base years for comparison. Competition Bikes uses year 6 as the base year, and a comparison of changes from year 6 to 7 and then with years 7 and 8. The strengths are mostly for year 6 to year 7. Net sales were $4,485,000 for year 6 and increased by $1,495,000 to $5,980,000 in year 7. Then from year 7 to 8 there is a decline in sales by $897,000 this decrease was the major weakness. The cost of goods in year 6 equaled $3,294,000 then increased in year 7 by 32.8% to $4,342,000. The Gross profits were up 37.5% in year 7 compared to year 6 for a growth of $447,000. The operating expenses increased due to the increase in sales from year 6 to 7. This is always a strength when you a company spend more because they are making more money. Advertising could have played a role in the increased sales. They spent the greatest amount of money on year 7, which was $32,760. There was a decreased in advertising expenses in year 8, by 16.3%. The company had fixed percent that they spent in sales commissions, distributions, network support, and transportation out, which all increased 33% from the 6th to 7th year and decreased 15% from the 7th to the 8th. The overall selling expenses were $299,220 in year 6 and increased to $397,960 (+33%) year 7 and then decreased to $338,748 (14.9%) year 8. Competition Bikes selling expenses were high for the 6th to the 7th year, but they managed to regain...
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