In part, comprehensive resource management describes standard mechanisms

Answers

Answer 1

In part, comprehensive resource management refers to the use of standard mechanisms and practices to effectively manage and optimize the utilization of resources within an organization.

These mechanisms ensure that resources, including human, financial, and physical assets, are allocated, utilized, and monitored efficiently and effectively. Some of the standard mechanisms involved in comprehensive resource management include:

Resource Planning: Developing a strategic plan for resource allocation based on organizational goals and objectives. This involves forecasting resource needs, identifying potential bottlenecks, and aligning resource allocation with project requirements.

Resource Allocation: Assigning resources to specific projects, tasks, or departments based on their availability, skills, and expertise. This involves balancing resource utilization across different projects or operational areas to ensure optimal productivity and minimize resource conflicts.

Resource Tracking and Monitoring: Implementing systems and tools to track and monitor resource usage, progress, and performance. This enables organizations to identify resource gaps, measure productivity, and make informed decisions to optimize resource allocation and utilization.

Capacity Management: Assessing and managing the capacity of resources to meet current and future demand. This involves analyzing resource capabilities, identifying potential constraints, and planning for scalability to accommodate growth or changes in demand.

Resource Optimization: Continuously improving resource management processes and practices to enhance efficiency and productivity. This may involve implementing automation, streamlining workflows, and leveraging technology solutions to optimize resource allocation and utilization.

Performance Evaluation: Regularly evaluating the performance and impact of resource management efforts. This includes assessing the effectiveness of resource allocation strategies, identifying areas for improvement, and making data-driven decisions to enhance resource utilization and overall organizational performance.

Comprehensive resource management helps organizations maximize the value derived from their resources while minimizing waste, inefficiencies, and conflicts. By implementing standard mechanisms and practices, organizations can enhance operational efficiency, improve project outcomes, and achieve better overall resource utilization, leading to increased productivity and cost-effectiveness.

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Related Questions

Can someone help me with this

Can someone help me with this

Answers

Answer:

Is it account? or business?

Explanation:

Is it account or business??

If a country's economic data show private savings (S) of $9 billion, government spending (G) of $7 billion, tax revenue (T) of $7 billion, and a trade surplus (X-M) of $3 billion, then what does private investment (I) equal?

Answers

Answer:  $6 billion

Explanation:

Savings = Private Investment + Trade Surplus - (Tax revenue - Government spending)

Private Investment = Savings + (Tax revenue - Government spending) - Trade surplus

= 9 + ( 7 - 7 ) - 3

= $6 billion

When does a student need to file a FAFSA

Answers

Answer: financial aid for tuition

Explanation:

Net profit after taxes of a firm is 100000 and its fixed interest charges on long term debt are 20000 what is the interest coverage ratio if the rate of income tax is 60%

Net profit after taxes of a firm is 100000 and its fixed interest charges on long term debt are 20000

Answers

the interest coverage ratio is 13. This means that the firm is earning enough to cover its interest payments 13 times over.

How to calculate?

The interest coverage ratio is calculated as follows:

Interest Coverage Ratio = (Net Profit + Fixed Interest Charges) / Fixed Interest Charges

First, we need to calculate the net profit before taxes, as this is what we will use to calculate the interest coverage ratio:

Net Profit Before Taxes = Net Profit After Taxes / (1 - Tax Rate)

Net Profit Before Taxes = 100000 / (1 - 0.6)

Net Profit Before Taxes = 250000

Now we can calculate the interest coverage ratio:

Interest Coverage Ratio = (Net Profit Before Taxes + Fixed Interest Charges) / Fixed Interest Charges

Interest Coverage Ratio = (250000 + 20000) / 20000

Interest Coverage Ratio = 13

Therefore, the interest coverage ratio is 13. This means that the firm is earning enough to cover its interest payments 13 times over.

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8. What includes retail sales, housing starts, and truck and

auto sales

Answers

Answer:

monthly data series in a GDP

Explanation:

A GDP is defined as the actual domestically manufactured or produced products or the services provided in a financial year which describes or estimates the financial status or economic status of a country. GDP stands for Gross domestic product.

By analyzing the monthly data series of goods or services produced one can predict the real GDP of a country to be. One can use the monthly observations of the employment, unit auto as well as truck sales, sousing starts, retail sales, trade, automobile inventories, manufacturing, shipment of machinery and equipment, index of the industrial production, etc. to predict the GDP growth or get an idea of the GDP figures that are going to show the robust growth of the economy.

Coronado Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.3 pounds and 0.1 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $0.10 per pound, and receiving and handling costs are $0.07 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $0.30 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 2.0 hour per unit, and the allowance for rest periods and setup is 0.5 hours and 0.4 hours, respectively.

The standard direct labor rate per hour is: __________

Answers

The standard direct labor hours per unit is 1.5 hours.

Which scenarios provided would cause a change in demand for grape jelly?
A)
The price of grape jelly increases considerably.
B)
Grape jelly is placed on sale at a local supermarket.
The prices of peanut butter and bread increase substantially.
D)
Summer is approaching and more people prefer sandwiches for lunch.
E)
The federal government releases a report on the positive health benefits of
grape jelly

Answers

Answer:C d and e

Explanation:there different scenarios

Beliefs that are handed down from one generation to another and that influence decision making are _____.

genetic
diversity issues
universal values
cultural preferences

Answers

Answer: cultural preferences.

Answer: cultural preferences

Explanation: I just took the test

Walkers (Pty) Ltd manufactures a basic baby walker product by means of a single manufacturing process and uses a process costing system. Raw materials are added at the beginning of the process and the conversion costs are evenly incurred during the process. The following information is available for November 2022: 8 000 units Material cost: R400 000 Opening work in progress (25% complete) Put in production Completed and transferred Closing work in progress (80% complete) Additional information: ● 15 000 units REQUIRED: 20 000 units 1 250 units Material cost: R900 000 Cost of conversion: R120 000 Cost of conversion: R3 100 000 Normal wastage amounts to 5% of the inputs that reach the identification of wastage stage in the process. Wastage occurs when the process is 20% complete. The company uses the weighted average method of inventory valuation. Prepare the process cost report for Walkers (Pty) Ltd using the weighted average method of stock valuation i.e. 2.1 Prepare the quantity statement (with the equivalent production) 2.2 Prepare the cost statement 2.3 Calculate and allocate the normal loss in Rands 2.4 Prepare the cost allocation statement Tabulate your answers as far as possible. (16 marks) (7 marks) (8 marks) (14 marks) ​

Answers

The normal loss is not allocated to completed units, as it is a normal part of the process and therefore is considered a joint cost. Below are the quantity statement, cost statement, and cost allocation statement.

What constitute the statements?

2.1 Quantity Statement (with equivalent production)

| Process Stage | Units (physical) | % of completion | Equivalent Production Units |

| Opening WIP | 2,000 | 25% | 500 |

| Started production | 15,000 | 100% | 15,000 |

| Total | 17,000 | | 15,500 |

| Completed & Transferred | 8,000 | 100% | 8,000 |

| Closing WIP (80%) | 9,000 | 80% | 7,200 |

| Total Output | 8,000 | 100% | 8,000 |

2.2 Cost Statement

| Process Stage | Material Cost | Conversion Cost | Total Cost | Cost per Equivalent Production Unit |

| Opening WIP | R100,000 | R10,000 | R110,000 | R220.00 |

| Started production | R600,000 | R80,000 | R680,000 | R45.33 |

| Total (transferred) | R400,000 | R50,000 | R450,000 | R56.25 |

| Closing WIP | R200,000 | R26,000 | R226,000 | R31.39 |

| Total | R1,300,000 | R166,000 | R1,466,000 | R94.58 |

2.3 Normal Loss Calculation

Normal wastage amounts to 5% of the inputs that reach the identification of wastage stage in the process. Wastage occurs when the process is 20% complete. Therefore, calculate the equivalent production units for the normal loss separately.

Inputs for normal loss: 15,000 units x 105% (to account for normal loss) = 15,750 units

| Process Stage | Units (physical) | % of completion | Equivalent Production Units |

| Normal Loss | 15,750 | 20% | 3,150 |

| Total | 15,750 | | 3,150 |

The normal loss is 3,150 equivalent production units.

2.4 Cost Allocation Statement

| Cost Item | Total Cost | Cost per EPU | Cost per completed unit |

| Material Cost | R1,300,000 | R84.52 | R162.50 |

| Conversion Cost | R166,000 | R10.75 | R20.75|

| Normal Loss Allocation | R39,075 | R12.40 | - |

| Total Cost | R1,505,075 | | |

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Yarin's gross pay for the year was $3,500. The federal income tax withholding from his pay was 9% of his gross pay. Yarin determined the federal income tax he owes is $115. How much of a refund can Yarin expect? O $200 O $315 O $3,035 $3,185​

Answers

answer:

its A

Explanation:

Yarin can expect a $200 refund.

Yarin's gross pay for the year was $3,500.

The federal income tax withholding from his pay was 9% of his gross pay.

=$(3,500×9÷100)

=$315

Yarin determined the federal income tax he owes is $115.

Refund expected = $(315-115)

=$200

What Are Federal Taxes?Income tax.Gift tax.Estate tax.What is the difference between state tax and federal tax?

The differences between state and federal taxes are federal income taxes are collected by the federal government to pay their bills and state taxes are collected by individual state governments to pay their specific state bills.

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Which organization developed and published the first curriculum that served as the guideline for EMT training?

Department of Transportation (DOT)

Department of Health and Human Services (DHHS)

National Academy of Sciences

Occupational Safety and Heath Administration (OSHA)

Answers

Answer:

Department of Transportation (DOT)

Explanation:

Department of Transportation can be regarded as one department in the government of U.S that are in charge of transportation. It started operation in 1967. It should be noted that the Department of Transportation (DOT) developed and published the first curriculum that served as the guideline for EMT training?

Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?

Answers

The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.

How to find the manufacturing costs ?

Direct materials (Assembly + Testing & Packaging) = $375 + $39

= $414

Direct labor (Assembly + Testing & Packaging) = $168 + $84

= $252

Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126

= $442

Total manufacturing cost = $414 + $252 + $442

= $1110

Unit product cost = Total manufacturing cost / Number of units

= $1110 / 10

= $111.00

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Some companies require multiple interviews as part of their hiring processes.
True
False

Answers

True companies requires multiple interviews as part of their hiring processes

i hope it helps

9.To what part of an industry does a worker's education contribute?
human capital
technology
physical capital
scarce resources

Answers

Answer:

human capital

Explanation:

Human capital is the economic value brought by workers' experience and skills. It is the attributes, abilities, and quality of labor to influence a firm's productivity. Human capital is enhanced through education, training, and work experiences.

Human capital is an intangible asset to a business. Human capital is a critical element if a business is to achieve its goals. Due to this reason, companies are always investing in improving the quality of their human capital.

how do you find marginal revenue

Answers

by dividing the change in total revenue by the change in total output quantity


20: What are some ways you can stay financially literate?

Answers

Ayuda porfabor necesito ayuda

Which institution oversees the Bureau of Consumer Protection?
A) The federal bureau of investigation
B) The Federal Trade Commission
C) The Federal Reserve System
The Securities and Exchange Commission

Answers

Its B, the Federal Trade Commission!

Answer:

b

Explanation:

i just know

Problem-6; (chapter 3) SS Ltd. obtained significant influence over YY Ltd by buying 30% of Y's 100,000 outstanding ordinary shares at a cost of Br 18 per share on January 1, 2022. On May 15, YY declared and paid a cash dividend of Br 150,000. On December 31, YY reported net income of Br 270,000 for the year. (a) record acquisition of shares (a) record revenue and dividends​

Answers

(a) Record acquisition of shares: Investment in YY Ltd. Dr. Br 540,000, Cash Cr. Br 540,000.

(a) Record revenue and dividends: Dividend Receivable Dr. Br 45,000, Revenue from Investment in YY Ltd. Cr. Br 45,000; Investment in YY Ltd. Dr. Br 81,000, Revenue from Investment in YY Ltd. Cr. Br 81,000.

(a) To record the acquisition of shares by SS Ltd. on January 1, 2022:

Investment in YY Ltd. (30% of 100,000 shares * Br 18) Dr. Br 540,000

Cash Cr. Br 540,000

This journal entry records the purchase of 30% of YY Ltd.'s outstanding shares for a total cost of Br 540,000.

(b) To record revenue and dividends for the year:

On May 15, YY Ltd. declared and paid a cash dividend of Br 150,000. This dividend represents the portion of the company's earnings that will be distributed to its shareholders.

Dividend Receivable Dr. Br 45,000 (30% of Br 150,000)

Revenue from Investment in YY Ltd. Cr. Br 45,000

This entry recognizes the dividend revenue earned by SS Ltd. from its investment in YY Ltd.

On December 31, YY Ltd. reported net income of Br 270,000 for the year. As SS Ltd. has significant influence over YY Ltd., it needs to adjust its investment account for its share of the net income.

Investment in YY Ltd. Dr. Br 81,000 (30% of Br 270,000)

Revenue from Investment in YY Ltd. Cr. Br 81,000

This entry records the revenue earned by SS Ltd. from its share of YY Ltd.'s net income.

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Your interest rate is compounded annually ,beginning balance $1166.40 annual rate 8%, how much will you earn in interest alone?

Answers

You will earn $93.31 in interest alone.

To calculate the amount of interest you will earn, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the final amount
P = the principal amount (beginning balance)
r = annual interest rate (in decimal form)
n = number of times interest is compounded per year
t = number of years
In this case, the beginning balance is $1166.40, the annual interest rate is 8%, and the interest is compounded annually.
First, we need to convert the annual interest rate to a decimal form by dividing it by 100: 8% / 100 = 0.08.
Next, we substitute the values into the formula:
A = 1166.40(1 + 0.08/1)^(1*1)
Simplifying the equation, we have:
A = 1166.40(1.08)
Now, we can calculate the final amount
A = $1166.40 * 1.08
A = $1259.71
To find the amount of interest earned, we subtract the principal amount (beginning balance) from the final amount:
Interest earned = $1259.71 - $1166.40
Interest earned = $93.31
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List a minimum of four reasons why you might be rejected for a job offer.

List a minimum of four reasons why you might be rejected for a job offer.

Answers

Answer:

1. You don't have enough experience for the job.

2.There was a better candidate for the job.

3.You didn't take an interview seriously.

4.Your not professional enough.

5.You might have a criminal record and this job you are applying for doesn't want someone with a bad record.

6.You don't have any recommendations.

7.Your previously bosses say that you aren't a good employee.

8.You aren't punctual. (on time)

You misidentified the post for which you applied. You made a horrible first impression. You lack the necessary experience for the position. A better applicant was available for the position.

What are the methods of accepting and rejecting Job offers ?

You weren't serious about the interview. You lack professionalism. This job you are seeking for might not want someone with a criminal record since you might have one. You lack any recommendations

Accept the job:

There are many different ways to accept a job, and frequently, people do so because they are attracted to the conditions that the employer is offering, such as the pay or the work schedule.

The ideal technique to accept it is in person, outlining what you anticipate from the business and expressing gratitude for the chance.to cooperate with them

Reject the position:

A lot of people turn down jobs due to unstable economic conditions, negative company references, demanding schedules, or a counteroffer from another employer.

The ideal method to turn down a job is to send an email explaining why you can't do it without getting into too much detail, without using many words, or in a stilted, official manner.

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Taxes are cut by 10% for all income levels. What type of policy is being conducted

Answers

When taxes are cut, the type of policy that is being conducted is a expansionary fiscal policy.

What is a expansionary fiscal policy?

Fiscal policies are policies enacted by the government to control the money supply in the economy. Fiscal policy can either be contractionary or expansionary.

Expansionary fiscal policy is when the government increases the supply of money in the economy. This can be done either by reducing the taxes or increasing their level of spending.

Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing their spending or increasing taxes.

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1.Apply the SOSTAC model to ASOS and highlight why it has become
such a successful online fashion brand?

Answers

he SOSTAC model is a strategic planning framework that stands for Situation analysis, Objectives, Strategy, Tactics, Action, and Control.

Situation analysis: ASOS operates in the highly competitive and dynamic online fashion industry. It was founded in 2000 and has grown rapidly since then to become a global brand with a presence in over 200 countries.

Objectives: ASOS's objective is to become the go-to destination for online fashion shopping. It aims to provide its customers with a seamless and personalized shopping experience that caters to their unique style preferences.

Strategy: ASOS's strategy is centered on offering a wide range of products from its own label as well as other brands, at competitive prices. It also uses technology to enhance the customer experience by providing features like visual search, social media integration, and personalized recommendations.

Tactics: ASOS uses various tactics to execute its strategy, such as aggressive marketing campaigns, partnerships with influencers, and collaborations with other brands. It also invests heavily in technology to constantly improve its online platform and provide customers with a seamless shopping experience.

Action: ASOS regularly updates its product offerings, website design, and marketing campaigns to stay relevant and appeval to its target audience. It also actively engages with its customers through social media and other channels to understand their preferences and needs.

ASOS has become such a successful online fashion brand due to its effective execution of the SOSTAC model. Its focus on offering a wide range of products at competitive prices, using technology to enhance the customer experience, and actively engaging with customers has helped it establish a strong brand identity and a loyal customer base.

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Suppose that the production function is y= 9k^0.5 N^0.5. With this production function, the marginal product of labor is MPN= 4.5K^0.5 N^-0.5. The capital stock is K= 25. The labor supply curve is NS= 100[(1-t)w]^2, where w is the real wage rate, t is the tax rate on labor income, and hence (1-t)w is the after-tax real wage rate.c.Suppose that a minimum wage of w=2 is imposed. If the tax rate on labor income, t, equals zero, what are the resulting values of employment and the real wage? Does the introduction of the minimum wage increase the total income of workers, taken as a group?

Answers

The resulting values for employment and the real wage are 70.3125 and $1.5811 per hour, respectively.

The introduction of the minimum wage does not increase the total income of workers taken as a group.

How to determine employment and real wage

To find the resulting values of employment and real wage, determine where the labor supply curve intersects the labor demand curve.

MPN =

\(4.5K^0.5 N^-0.5 = (9K N)^0.5 / (2KN)^0.5 = (9/2)^0.5 (K/N)^0.5 = w/P

\)

where P is the price of output, which we can assume is equal to 1.

This equation can be rearranged to solve for N:

N =

\((9/2) (K/w)^2\)

Plugging in K = 25 and w = 2, we get:

N =

\((9/2) (25/2^2) = 70.3125\)

To find the real wage, we can plug this value of N into the labor supply curve:

NS =

\(100[(1-t)w]^2 = 100(1-0)(2)^2\)

= 400

Since labor supply exceeds labor demand, the real wage will be bid down to the equilibrium level.

\((9/2)^0.5 (K/N)^0.5 = w/P

(9/2)^0.5 (25/N)^0.5 = 1/2

N = (9/2) (25/2^2) = 70.3125

w = 2(70.3125/100)^0.5 = 1.5811\)

The equilibrium real wage is $1.5811 per hour.

To determine whether the introduction of the minimum wage increases the total income of workers,

Total income before minimum wage = wN = 1.5811 x 70.3125 = $111.31

After the minimum wage of $2 is imposed, the real wage is fixed at $2, and the level of employment is determined by the intersection of the labor supply and demand curves at this wage:

N =

\((9/2) (25/2^2) / (2)^2 = 35.15625\)

Total income after minimum wage = wN = 2 x 35.15625 = $70.31

Since the total income of workers decreases from $111.31 to $70.31 after the minimum wage is imposed, the introduction of the minimum wage does not increase the total income of workers taken as a group.

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Problem 8, MacroSoft Inc. has capitalized $600,000 of software costs. Sales from this product were $360,000 in the first year. MacroSoft estimates additional revenues of $840,000 over the product’s economic life of 5 years.
Instructions
Prepare the journal entry to record software cost amortization for the first year. Show all computations.

Answers

Journal Entry:

Date: [First year-end date]

The amortization expense for the first year is $120,000.

Debit: Amortization Expense - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Credit: Accumulated Amortization - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Explanation:To record the software cost amortization for the first year, we need to allocate a portion of the capitalized software costs as an expense. Since the software has an estimated economic life of 5 years, we divide the total software cost ($600,000) by 5 to determine the annual amortization expense. In this case, the amortization expense for the first year is $120,000. We debit the Amortization Expense - Software Cost account to recognize the expense and credit the Accumulated Amortization - Software Cost account to accumulate the amortization over time.

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Asian Lamp Company manufactures lamps. The estimated number of lamp sales for the last three months for the current year are as follows: Month Sales
October 10,000
November 14,000
December 13,000
Finished goods inventory at the end of September was 3,000 units. Ending finished goods inventory is budgeted to equal 25 percent of the next month's sales. Asian Lamp expects to sell the lamps for $25 each. January sales is projected at 16,000 lamps.
In going from the sales budget to the production budget, adjustments to the sales budget need to be made for
a. cash receipts.
b. finished goods inventories.
c. factory overhead costs.
d. selling expenses

Answers

Answer:

Asian Lamp Company

In going from the sales budget to the production budget, adjustments to the sales budget need to be made for

b. finished goods inventories.

Explanation:

a) Data and Calculations:

Sales Budget               October   November   December    January

Ending inventory            3,500         3,250          4,000

Estimated sales units   10,000        14,000        13,000         16,000

Units available for sale 13,500        17,250        17,000

Beginning inventory      3,000         3,500          3,250          4,000

Production units           10,500        13,750         13,750

____ are the goods and materials available for sale at the beginning of a period.


Raw materials

Ending inventory

Cost of goods sold

Beginning inventory

Answers

Answer:

Beginning inventory

Explanation:

Beginning inventory refers to the finished goods that are still in the business premises at the beginning of a fiscal year. They represent the finished products that the business was not able to sell in the past period. Beginning inventory becomes part of the inventory to be sold in the current year.

Other terms that describe beginning inventory are opening inventory, opening stock, and balance brought forward.

Answer:

D- Beginning inventory

Explanation:

All of the following options are different factors that affect how much of an item you purchase EXCEPT...
A.How long it stays fresh
B.How often you eat that item
C.How many people are eating
D.How hungry you are while you are shopping

Answers

the answer is D how hungry you are while shopping.

The law in your state allows an employer to create an
enforceable agreement that restricts an employee's
postemployment activities as long as the restriction is
reasonable in terms of purpose, geographic area, and
duration. Your employer is a dominant force in the
technology industry, an industry that is ever changing at
a rapid pace. As a result, top employees want the flex-
ibility to move from company to company. Of course,
having and keeping top employees is a competitive
advantage. Assume that you are an executive charged
with determining whether your firm will embrace a
postemployment restriction within its contracts of
employment. If you adopt a justice theory approach,
what result might you adopt, and why? If you adopt a
utilitarianism approach, what result might you adopt,
and why?

Answers

Utilitarian theory respects all persons equally without particular regard and assists people in making moral decisions. The utilitarian theory provides a basic technique. According to utilitarian philosophy, humans value all moral terms such as self-sacrifice, justice, and honesty.

There are various philosophies of justice, including utilitarianism, justice as fairness, and libertarianism. Utilitarians were those who supported utilitarian doctrine. With utilitarian theory being one of the theories of justice, the researcher was compelled to investigate how the theory provides justice to people, how it impacts human behaviour, and the issues the theory faces in the present world. Act utilitarians argue that their theory gives compelling grounds to reject many conventional moral statements and substitute them with moral perspectives based on the consequences of actions. People who are persuaded by act utilitarianism's critics may decide to abandon utilitarianism outright and adopt another form of moral theory.

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The following model is a simplified version of the multiple regression model used by

Biddle and Hamermesh (1990) to study the trade-off between time spent on sleeping and working

and to look at other factors affecting sleep:


Where sleep and totwrk (total work) are measured in minutes per week and educ and age are

measured in years.

A. If adults trade off sleep for work, what is the sign of ?

B. What signs do you think and will have?

Using the data we estimated the equation and obtained (the standard errors in brackets):

Sleep = 3.638.25 - 0.148 totwrk - 11.13 educ + 2.20age

(112.28) (0.017) (5.88) (1.45)

n = 706 R2 = 0.113
C. Is either educ or age individually significant at the 5% level against a two-sided
alternative?
Dropping educ and age from the equation gives
Sleep = 3.586.38 - 0.151 totwrk
(38.91) (0.017)
n = 706 R
2
= 0.103

Are educ and age jointly significant in the original equation at the 5% level?
D. Does including educ and age in the model greatly affect the estimated trade-off between
sleeping and working?
E. Suppose that the sleep equation contains heteroskedasticity. What does it mean about the
tests computed in B and D

Answers

Answer:

A. If adults trade off sleep for work, the sign of should be negative, because an increase in the amount of work would be expected to result in a decrease in the amount of sleep.

B. It is expected that and will be negative, because an increase in education and age would be expected to result in a decrease in the amount of sleep.

C. Based on the estimated equation, educ is individually significant at the 5% level against a two-sided alternative, because the p-value of 0.000 is less than 0.05. Age is not individually significant at the 5% level, because the p-value of 0.139 is greater than 0.05.

D. Educ and age are jointly significant in the original equation at the 5% level, because the p-value of 0.000 is less than 0.05.

E. If the sleep equation contains heteroskedasticity, it means that the variance of the errors is not constant across different values of the independent variables. This can affect the tests computed in parts B and D, because the assumption of constant variance is often used in statistical tests. Heteroskedasticity can lead to biased and inconsistent estimators and can also result in incorrect p-values and confidence intervals.

Explanation:

1. advertising
the statistical data of a population, especially those showing average age, income, or education
2. demographics
the act or practice of calling public attention to one's product, service, or need
3. marketing
the value added to a product by using the marketing functions
4. marketing concept
product, price, distribution, and promotion
5. marketing functions
the specific group of customers that a company wants to identify; a people with wants and needs that can be met with the goods or services the company provides
6. marketing mix
development, promotion, and distribution of products that satisfy people's needs and wants
7. marketing utilities
a plan on how to market a product or service to consumers
8. mass media
any of the means of communication, such as television or newspapers, that reach very large numbers of people
9. target market
the techniques a company uses in the practical marketing of products

Answers

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Explanation:

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