“Real-Life Applications of Binomial Distribution” (Note: Please respond to one [1] of the following two [2] bulleted items)
Provide one (1) real-life example or application of a binomial distribution. Explain how the example matches the conditions for the binomial distribution.
Determine the conditions under which you would use a discrete probability distribution rather than a continuous probability distribution. Provide one (1) example to illustrate your reasoning.
TOPICS: Economics, Pricing Strategy
SUMMARY: The economics of trash is an important issue for cities with limited space in landfills or the prospect of significant increases in the cost to haul trash to incinerators at other sites. Plymouth, Massachusetts wants to adopt a pay-as-you-throw or PAYT system. The prospect seems unpopular with residents and the selectmen recently voted to hold off overhauling the trash system for another year. The plan involved charging for the bags residents would be required to use to throw their trash out at transfer stations. The town has no room left in its landfill and sends trash twenty miles to an incinerator. There are many objections to the plan. Senior citizens worry they will have to pay more and some think it will penalize large families. The town faces significant increases in the fees it has to pay to have trash hauled off and incinerated so the goal was to try and change the behavior of residents in advance of the higher costs.
CLASSROOM APPLICATION: The economics of garbage provides insights into strategies that can change behavior. People create garbage and cities have to figure out how to dispose of it. A long tradition of trash removal at low cost and with few restrictions has pressured the ecosystem. Cities need to motivate residents to change their trash habits and recycle. The idea is to make it more difficult and expensive to get rid of trash by tossing it in the garbage. Cities make residents buy special bags, tags or cans for their trash but haul away recyclables for little or no cost. PAYT cities find their residents can get creative. The Seattle stomp is used to compact huge amounts of trash into a single can or bag. Other cities find illegally dumped refuse increases when they implement economic systems to make traditional trash collection or disposal more expensive.
QUESTIONS:
1. How do financial incentives or costs affect behavior? Why use money as either an incentive or cost to motivate change?
2. Give one example of how consumers changed in response to finance incentives or costs. Here is one example, you think of another… The drop in miles driven once gas prices increased. Now yours…
3. In the past, residents of other cities changed their behavior in response to PAYT but not necessarily in ways cities had hoped. Describe what happened and why it was a problem.
4. Why don’t all cities, including the ones in this article, just require recycling of trash and yard waste like the City of Seattle?
Assignment 1: Ethical Dilemma
Assume you are a manager of a large heavy equipment manufacturing company. Your company currently outsources the manufacturing of a specialized piece of equipment to a firm in another country. The outsourcing of this piece of equipment has saved your organization a considerable amount of money and has increased profits by 15%. A recent newspaper article has revealed that this firm is paying their employees only a few dollars a day and their employees often work long hours. While you are not the only company that uses this firm your company was specifically named in the newspaper article. You have been asked by your CEO to make a decision on whether or not to continue to do business with this firm.
Post your answers to the following questions in paragraph form (minimum of 500-600 words) to this Discussion Area. Be sure to incorporate your weekly readings, citing your sources using proper APA (including in-text citations and references).
In making this decision you will need to do the following:
Discuss the ethics of continuing to do business with this firm. In this discussion evaluate the economic, legal and ethical issues. Describe how a written code of ethics might impact your decision.
Describe any other factors you would consider in making a decision to continue or discontinue doing business with this organization.
State the process you would follow to make your decision, provide your decision, and explain the decision making style you have used.
Prepare A SWOT analysis of your decision using the following table:
The specific course learning outcomes associated with this assignment are:
Explain how key social, cultural, and artistic contributions contribute to historical changes.
Explain the importance of situating a society’s cultural and artistic expressions within a historical context.
Examine the influences of intellectual, religious, political, and socio-economic forces on social, cultural, and artistic expressions.
Identify major historical developments in world cultures from the Renaissance to the contemporary period.
Use technology and information resources to research issues in the study of world cultures.
Write clearly and concisely about world cultures using proper writing mechanics.
You were recently hired as management director of the new I Can Business Incorporated (ICBI). You have been asked to establish policies and systems for the business. The first one you choose to work on is a financial reporting system.
For this assignment, you must develop a memo that you will deliver to the board of directors of ICBI. You will describe what a financial reporting system is and explain how management of ICBI should use an activity based budget instead of an operating budget. Be sure to explain the similarities and the differences of the two. Finally, give examples of budget guidelines for ICBI. You must answer the following questions:
Describe the meaning and the components of a financial reporting system.
Write a description of how management should use an activity based budget instead of an operating budget
Explain the similarities and differences of the two budgets
Give an example of budget guidelines that ICBI should follow in order to successfully plan.
Identify and describe at least 5 basic budget guidelines.
Write a four to six (4-6) page paper in which you:
Determine the fundamental challenges that organizations face in general in regard to protecting organizational assets and information.
Specify the red flag(s) that Target overlooked or ignored before the retail attack and give your opinion as to why Target overlooked or ignored the red flag(s).
Determine the main actions that Target took after the breach occurred and evaluate the efficiency of such actions.
Conclude the main reasons why the attack on Target occurred. Give your opinion as to whether or not the attack was mainly due to the poor infrastructure or the inability of management to act accordingly. Justify your response.
Use at least three (3) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.
Write a paper that creates strategic and operational plans based on the SWOT analysis, and includes explanations for the following:
How these plans will achieve the related goals
The effect of planning decisions on the internal and external stakeholders identified
Required Elements:
No more than 700 words
Cite research in your paper to support your writing
Format your paper consistent with APA guidelines
Review the example SWOT Analyses located in this week’s Electronic Reserve Readings to see the types of information companies include.
After reading the landmark decisions of Plessy v. Ferguson, 163 U.S. 537 (1896) and Miranda v. Arizona, 384 U.S. 436 (1966), discuss the following in a paper of 7 pages:
What factors influenced each of these decisions?
Read the dissenting opinions as well.
Explore to what extent political ideology influences constitutional law.
To support your points, identify specific examples in the language of both the decisions and the dissents.
Examine the political climate when both cases were decided.
Look at what philosophical underpinnings may have influenced the thinking of the court of the respective eras of these cases. How did the courts in each era read the U.S. Constitution differently?
his Week: Submit Draft of an Abbreviated Mixed Methods Research Plan
To prepare for this Application, first focus on the following instructions:
Next, ask yourself the following questions:
Read “Case 24: Starbucks’ Strategy and Internal Initiatives to Return to Profitable Growth” in Crafting & Executing Strategy (text), page C-305.
Refer to A Guide to Case Analysis, provided in the student online learning center that supports Crafting & Executing Strategy (text) as needed while completing this assignment.
Identify the issues management needs to address. Give particular attention to the topics you have studied in the themes and readings for this module.
Analyze and evaluate the issues identified above based on the information provided in the case and additional information available on the company’s website (if necessary).
Recommend a set of actions management should take to address the issues that you have identified and analyzed.
Your report must be in APA style, 3-5 pages, double-spaced. You are encouraged to include tables or graphs as appropriate for your analysis