MBA 510 Problem Set I Essay Example | Topics and Well Written Essays - 750 words

MBA 510 Problem Set I - Essay Example b. Compute the mean deviation. 3.24 square root ((N-Mean)^2+(N1-Mean)^2.../n)= Square root (42/4)= 3.74 c. Compute the standard deviation. 3.74 square root ((N-Mean)^2+(N1-Mean)^2.../n-1)= Square root (42/3)= 3.74 b. Lind Chapter 5: Exercises 8, 66 8. A sample of 2,000 licensed drivers revealed the following number of speeding violations. Number of Violations Number of Drivers 0 1,910 1 46 2 18 3 12 4 9 5 or more 5 Total 2,000 a. What is the experiment The experiment is the gathering of the data set b. List one possible eventA driver has less than two speeding violations c. What is the probability that a particular driver had exactly two speeding violations 18/2000 = .009 d. What concept of probability does this illustrate Relative frequency 66. A survey of undergraduate students in the School of Business at Northern University revealed the following regarding gender and majors of the students: Major Gender Accounting Management Finance Total Male 100 150 50 300 Female 100 50 50 200 Total 200 200 100 500 a. What is the probability of selecting a female student 200/500 = .4 b. What is the probability of selecting finance or accounting major 300/500 = .6 c. What is the probability of selecting a female or an accounting major Which rule of addition did you apply 250/500 = .5 The addition rule of independent events d. Are gender and major independent Why No, the data is dependent upon gender e. What is the probability of selecting an accounting major, given that the person selected is male 100/300 = .33 f. Suppose two students are selected randomly to attend a lunch with the president of the university. What is the probability that both of those selected are accounting majors Acct major = .4 Both acct major = .4*.4 =... 68. The American Automobile Association checks the price of gasoline before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during the May 2003 Memorial Day weekend in the Detroit, Michigan, area. 70. A recent article suggested that if you earn , 25, 000 a year today and the inflation rate continues at 3 percent per year, you'll need to make 33,598 in 10 years to have the same buying power. You would need to make 44,771 if the inflation rate jumped to 6 percent. Confirm that these statements are accurate by finding the geometric mean rate of increase. 38. The accounting department at Weston Materials, Inc., a national manufacturer of unattached garages, reports that it takes two construction workers a mean of 32 hours and a standard deviation of 2 hours to erect the Red Barn model. Assume the assembly times follow the normal distribution. 44. The number of passengers on the Carnival Sensation during one-week cruises in the Caribbean follows the normal distribution. The mean number of passengers per cruise is 1,820 and the standard deviation is 120. 60. In establishing warranties on HDTV sets, the manufacturer wants to set the limits so that few will need repair at manufacturer expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer.

Professional Interview Research Paper Example | Topics and Well Written Essays - 750 words

Professional Interview - Research Paper Example Authors such as Reilly (2012) have established a relationship between effective leadership and the success in business systems in a country. The author argues that knowledge and skills in a country, which can empower leadership, are significant to the country’s economic development. Leadership roles exist at different levels at which decision-makers offer their professionalism (Nabli, 2011). To facilitate the study of leadership capacity in Nigeria, this essay will focus on an interview response from a Nigerian professional, ‘Usman Olaide’ who is a Senior Client Service Consultant and a Business Development Executive at Field Communication Ltd. The interview focuses on the role of leadership in promoting crises and leadership strategies for preventing or managing crises when they occur in the Nigerian business environment. Consequently, it will be possible to evaluate any impacts of the leadership that exists to the business crisis in this country. Usman identifie s the role of leadership in integrating different industries in the corporate sector for accountability in management because observed crises in the Nigeria’s business environment results from negligent actions from single industries or organizations and spread to affect the entire economy. Referring to Martin Oluba’s analysis of the equity market crisis (N.d.) and her experience in sources of crises in the Nigerian business environment, Usman explains that industries are interrelated and poor leadership in one industry, leading to a crisis in the industry, affects other industry’s performance. The finance industry is the most significance because it is the center of power for circulation of money across other industries as was observed in the equity market crisis. While poor leadership in the equity market led to its crisis, Usman explains that the move by the industry’s players to seek funds from private holdings influenced businesses in other sectors t o seek similar targets for rescue and culminated into the crisis. In her analysis of the scenario that is a perfect example of the role of weak leadership in business crisis, the interviewee argues that regulatory framework, both legal and moral, should be put in place to ensure credible and competent centralized leaderships that can preempt crisis in their respective industries and develop preventive measures. She also argues that a collaborative initiative among leaders from respective industries in regulating activities and risks in each industry can also play an effective role in containing crises from spreading to other industries, should such crises occur in a given industry (Usman, O, personal communication, August 16, 2013). Usman also argues that leadership offered by relevant government agencies play a significant role in management of financial crises in the Nigerian corporate environment. Agencies whose roles relate to macroeconomic aspects such as the Central Bank of Ni geria must be explicit in their roles to guide corporate operations and regulate the economic environment for stability. She explains that poor decisions on factors such as interest rates and consequences in high inflation rates are detrimental to businesses and the central bank should develop effective strategies for economic stability. The interviewee also relates such government regulations to the sensitive finance sector that has potential effects on other sectors and industry. In agreement with John, Adaeze, Soni, and Onoriode