Since its removal from the banned substances list in 2004 by the World Anti-Doping Agency, caffeine has been used by athletes with the expectancy that it enhances their workout and performance. Many studies have been conducted to assess the effect of caffeine on athletes, but few look at the role ti plays in sedentary females. Researchers at the University of Western Australia conducted a test in which they determined the rate of energy expenditure (kilojoules) on 10 healthy, sedentary females who were non-regular caffeine users. Each female was randomly assigned either a placebo or caffeine pill (6mg/kg) 60 minutes prior to exercise. The subject rode an exercise bicycle for 15 minutes at 65% of their maximum heart rate, and the energy expenditure was measured. The process was repeated on a separate day for the remaining treatment. The mean difference in energy expenditure (caffeine-placebo) was 18 kJ with a standard deviation of 19 kJ.

1) Describe the sample data set and identify the variable being measured

2) Which type of hypothesis test would be most appropriate for this set of data?

3) Describe the population from which your sample was obtained. What should be the value of the population parameter and why?

4) Do you think your data comes from a random sample? Why /why not?

5) What other condition must you check in order to perform the hypothesis test?

6) Describe the null and alternative hypothesis for your hypothesis test against the value

7) Determine the test statistic

8) Calculate the p-value for this hypothesis test

9) State your conclusion from this hypothesis test. What happens to the null hypothesis?

NASA must determine how many of three types of objects to bring on board the space shuttle. The weight and benefit of each of the items are given in the file P06_42.xlsx. If the space shuttle can carry up to 2600 pounds of items 1 through 3, how many of each item should be taken on the space shuttle, assuming that at least one of each is necessary?

1. Joe McDonald is the HR manager of ACME chemicals. His boss,

Bill Jacobs, is concerned that the interactions between the various

departments of the company are inconsistent and that there is too

much competition between departments rather than cooperation.

Bill has asked you about ways to improve the negotiations between

business units. In your explanation to Bill, you need to explain the

following: What are the three primary reasons that negotiations

occur? What is the difference between bargaining and negotiation?

Why must successful negotiations involve both tangible and

intangible components? Do you think that ACME needs to pursue an

integrative or a distributive approach to their future

interdepartmental negotiations? (Points : 20)

2. Define the term “conflict” and describe how it impacts the

negotiation process. Your explanation should include the 4 levels of

conflict and the dysfunctions that conflict can create. In your

response, you need to also provide your opinion as to whether

conflict is always a negative component in negotiations. If not, why?

(Points : 15)

3. Jack Johnson owns a 1998 Ford Mustang that he is looking to

sell. He advertises in the Auto Trader. Mary Smith responds to his

ad and expresses interest in purchasing the vehicle. Jack is asking

$3500 for the car. Mary is looking to pay no more than $2500 for

the vehicle. Would you describe this negotiation as a distributive or

an integrative negotiation? Why? Jack has set $3500 as the price of

his car but is willing to take $3000 for the vehicle. Anything under

$3000 will not be accepted. Mary wants to pay $2500 for the car, but

is willing to go up to $3000. Anything over $3000 will cause the

deal to fail. Define and contrast the Walkaway Points, Target Points

and Asking Price/Initial Offer of the parties. What are some of the

strategies that could be used by each party to achieve the outcome

they desire? (Points : 30)

4. What makes an integrative negotiation different from a

distributive negotiation? Define the key steps in the integrative

negotiation process. How does establishment of a BATNA aid the

parties in realizing their integrative outcome? (Define the term

BATNA in your response). If a win-win outcome is beneficial to both

parties, then why is it so difficult to achieve? (Points : 30)

5. Often there are other parties to a negotiation that can add great

complexity to the process. Define the following terms: Negotiating

Dyad; Agent; Constituency; Bystander; Audience. What are some of

the reasons that an individual might engage the services of an

agent to represent him/her in a negotiation? (Discuss at least

three) What are the three distinct relationships that an Agent has

to maintain in the negotiation process? (Points : 30)

6. Marie Smith is the head of Marketing for Jones Construction.

Harry Brown is the on-site project manager for all major

construction projects. Marie is interested in expanding the budget

for general marketing activities. Harry wants these resources

reserved for existing projects. Marie comes to you for advice on the

key steps she should use in preparing for her negotiation with

Harry. Discuss the 7 steps to an ideal negotiation process. (Points :

15)

7. As Marie and Harry enter into their negotiations, their

perceptions of each other will be an important component to the

negotiation process. Define perception and the role it plays in the

negotiation process. What are the four major perceptual errors that

tend to occur? What does the term “framing” mean and how does it

relate to the issue of perceptions? How can we counter these

perceptual errors? (Points : 30)

8. We have discussed the importance of communication in the

negotiation process. We reviewed the concept of communication as

a sender encoding a message to a receiver who decodes the

message and then responds back to the sender – thus creating the

feedback process important to every negotiation. What are the

major sources of distortion that can interfere with communication?

(Name and define at least 3) What are the three key questions we

need to ask regarding communication in negotiations? What role

does listening play in the communications process (Describe the 3

types of listening). What are some of the ways that a negotiator can

improve his/her communication skills? (Points : 30)

9. When we look at the complexities of the negotiation process,

there are many situations where a negotiator might consider the

use of questionable tactics to accomplish his/her goals. This brings

up the important question of ethics in negotiation. Define the 4

types of ethical reasoning. Why do people use deceptive/ambiguous

tactics in negotiation? What are some of the factors that shape a

predisposition to the use of unethical tactics? How can we

effectively respond to the use of unethical practices? (Points : 20)

10. Barney and Marilyn have been married for six months. They

engage in negotiations consistently as a way to improve their

understanding of each other and to build a loving relationship. How

does this “relationship” negotiation differ from the negotiation

practices that we have discussed involving business relationships?

Research has uncovered 4 fundamental types of relationship forms.

Define and contrast them. Which of the four types represent the

relationship between Barney and Marilyn? What are the three key

elements necessary for managing negotiations within relationships?

Managerial Economics, 7e (Keat)

Chapter 1  Introduction

 

Multiple-Choice Questions

1) The best definition of economics is

A) how choices are made under conditions of scarcity.

B) how money is used.

C) how goods and services are produced.

D) how businesses maximize profits.

2) Managerial economics is best defined as the economic study of

A) how businesses can make the most profits.

B) how businesses can decide on the best use of scarce resources.

C) how businesses can operate at the lowest costs.

D) how businesses can sell the most products.

3) Managerial economics is best defined as

A) the study of economics by managers.

B) the study of the aggregate economic activity.

C) the study of how managers make decisions about the use of scarce resources.

D) All of the above are good definitions.

4) Scarcity is a condition that exists when

A) there is a fixed supply of resources relative to the demand for the product.

B) there is a large demand for a product.

C) resources are not able to meet the entire demand for a product.

D) All of the above

5) Which of the statements below best illustrates the use of the market process in determining the allocation of scarce resources?

A) “Let’s make this product because this is what we know how to do best.”

B) “We should consider shifting to products where we can earn even more money.”

C) “Everyone is opening video stores, why don’t we?”

D) “We can’t stop making this product. This product gave our company its start.”

6) Which of the following is not considered as a factor of production?

A) money

B) machinery and equipment

C) land

D) unskilled labor

7) Select the group that best represents the basic factors of production.

A) land, labor, capital, entrepreneurship

B) land, labor, money, management skills

C) land, natural resources, labor, capital

D) land, labor, capital, technology

8) Which of the following is the best example of how the question of “what goods and services to produce?” is answered by the command process?

A) government subsidies for windmill energy production

B) laws regarding equal opportunity in employment

C) government allowance for the deduction of interest payments on private mortgages

D) government regulations concerning the dumping of hazardous waste

9) Which of the following is the best example of “what goods and services should be produced?”

A) the use of a capital intensive versus a labor intensive process of manufacturing textiles

B) the production of SUVs versus the production of sub-compact cars

C) the manufacturing of computer workstations in China or in India

D) the leasing versus the purchasing of new capital equipment

10) Which of the following is the best example of “how goods and services should be produced?”

A) complying with the technical specifications in the production of an aircraft

B) the production of jet aircraft for the air force or for a commercial airline

C) the use of additional workers versus the use of machines in the production of goods

D) the production of a new manufacturing facility

11) From the standpoint of a soft drink company the question of “What goods and services should be produced?” is best represented by which of the following decisions?

A) whether or not to hire additional workers

B) whether or not to increase its advertising

C) whether or not to shut down selected manufacturing facilities

D) None of the above are examples.

12) Which of the following is the best example of the “command” process?

A) United Airlines buys Northwest Airlines.

B) Striking auto workers force General Motors to shut down its factories.

C) Banks raise their fees on late payments by credit card holders.

D) The FCC requires local telephone companies to provide access to their local networks before being able to offer long distance service.

13) A critical element of entrepreneurship (as opposed to managerial skills) is

A) leadership skills.

B) risk taking.

C) technology.

D) political skills.

14) In the text, the key question in the “economics of a business” is

A) whether the need to grow revenues is being met.

B) should the firm be in the business in which it is operating.

C) whether the firm faces rising labor costs.

D) can the firm affect its market share.

15) Opportunity cost is best defined as

A) the amount given up when choosing one activity over all other alternatives.

B) the amount given up when choosing one activity over the next best alternative.

C) the opportunity to earn a profit that is greater than the one currently being made.

D) the amount that is given up when choosing an activity that is not as good as the next best alternative.

16) The economic concept of “opportunity cost” is most closely associated with which of the following management considerations?

A) market structure

B) resource scarcity

C) product demand

D) technology

17) Which of the following is the best example of opportunity cost?

A) a company’s expenditures on a training program for its employees

B) the rate of return on a company’s investment

C) the amount of money that a company can earn by depositing excess funds in a money market fund

D) the profit that a company forgoes when it decides to drop one product line in favor of another one

18) Which of the following is the best example of the “traditional process”?

A) commercial bank mergers

B) minimum age limits for the purchase of alcoholic beverages

C) auctioning U.S. Treasury bills

D) colleges and universities give admissions preferences to children of alumni

Analytical Questions

1) What economic conditions are relevant in managerial decision making?

2) What factors lead to competitive advantage for a firm?

3) What are the typical types of risk faced by a firm?

4) How do the three basic economic questions relate to the firm?

5) What other business disciplines are related to Managerial Economics?

Critical Infrastructure Protection

According to the text, Critical Infrastructure Protection (CIP) is an important cybersecurity initiative that requires careful planning and coordination in protecting our infrastructure.

You may use the following resources in order to complete the assignment,

• “National Infrastructure Protection Plan”, located at http://www.dhs.gov/xlibrary/assets/NIPP_Plan.pdf
• DHS Critical Infrastructure Security Webpage, located at https://www.dhs.gov/topic/critical-infrastructure-security
• “NIST Framework for Improving Critical Infrastructure Cybersecurity,” located at http://www.nist.gov/cyberframework/upload/cybersecurity-framework-021214-final.pdf
• “NIST Roadmap for Improving Critical Infrastructure Cybersecurity,” located at http://www.nist.gov/cyberframework/upload/roadmap-021214.pdf

Write a three to five (3-5) page paper in which you:

1. Interpret the Department of Homeland Security’s mission, operations and responsibilities.
2. Detail the Critical Infrastructure Protection (CIP) initiatives, what they protect, and the methods we use to protect our assets.
3. Analyze the way in which CIP has or has not advanced between the releases of the DHS’ NIPP and the NIST’s Framework for Improving Critical Infrastructure Cybersecurity. Justify your response.
4. Describe the vulnerabilities that should concern IS professionals who protect the U.S.’s critical infrastructure.
5. Suggest three (3) methods to improve the protection of the U.S.’s critical infrastructure, and justify each suggested method.
6. Evaluate the effectiveness of IS professionals in regard to protecting the U.S.’s critical infrastructure, and indicate the strategic ways that you believe IS professionals could better serve as protectors.
7. Use at least three (3) quality resources outside of the suggested resources in this assignment. Note:Wikipedia and similar Websites do not qualify as quality resources.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Analyze the methods of managing, controlling, and mitigating security risks and vulnerabilities.
• Evaluate potential situations of business interruption and the planning necessary to mitigate the threats involved.
• Compare and contrast business continuity and disaster recovery planning.
• Use technology and information resources to research issues in security management.
• Write clearly and concisely about the theories of security management using proper writing mechanics and technical style conventions.

Click here to view the grading rubric for this assignment.

1. Briefly explain one key advantage and one key disadvantage to using OLAP technology. In other words, what is a primary reason a business would want to use the technology and what is one of the primary limitations of the technology.

2. Explain the relationship between a Data Source and a Data Source View. to have more than one Data Source View for a given Data Source? Why or why not?

3. What is the purpose of a Subject Area Diagram and how does it relate to a Data Source View? Does it change anything in the underlying Data Source.

4. What is a Named Calculation? Does it apply at the table level or individual column?

5. Give an example of when it would make sense to define a Named Calculation. Could the transformation from the Named Calculation be done in the underlying Data Source instead? When would you choose one method over the other?

6. What is a Named Query used for? Does it apply at the table level or the individual column?

7. Give an example of when it would make sense to define a Named Query. What would be the advantage/disadvantage of providing this in the underlying database instead of defining it within your OLAP project?

8. Explain what a Dimension Hierarchy is used for. What happens if you have repeated values, like month names, in the hierarchy? How would you fix this to make them all unique?

9. The default usage for a measure is Sum. Explain cases where it would make sense to use “Count of Rows”, “Distinct Count” and “Maximum”.

10. What is the purpose of a Calculated Member? Provide an example of where this type of measure would be useful.

11. In many cases, defining a Named Calculation in the Data Source View or defining a Calculated Member in the cube will produce the same end result. Explain a situation where a Calculated Member would be necessary since it would not work in a Named Calculation.

12. If they underlying database for your project is changed to another vendor, for example, changing from SQL Server to Oracle or DB2, what impact does this have to your project including named calculations, named queries and calculated members.

The Flamingo Grill is an upscale restaurant located in St. Petersburg, Florida. To help plan an advertising campaign for the coming season, Flamingo’s management team hired the advertising firm of Haskell and Johnson (HJ). The management team requested HJ’s recommendation concerning how the advertising budget should be distributed across television, radio, and newspaper advertisements. The budget has been set at $279,000.

In a meeting with Flamingo’s management team, HJ consultants provided the following information about the industry exposure effectiveness rating per ad, their estimate of the number of potential new customers reached per ad, and the cost for each ad:

Advertising Media Exposure Rating per Ad New Customers per Ad Cost per Ad

Television 90 4000 $10,000

Radio 25 2000 $ 3000

Newspaper 10 1000 $ 1000

The exposure rating is viewed as a measure of the value of the ad to both existing customers and potential new customers. It is a function of such things as image, message recall, visual and audio appeal, and so on. As expected, the more expensive television advertisement has the highest exposure effectiveness rating along with the greatest potential for reaching new customers.

At this point, the HJ consultants pointed out that the data concerning exposure and reach were only applicable to the first few ads in each medium. For television, HJ stated that the exposure rating of 90 and the 4000 new customers reached per ad were reliable for the first 10 television ads. After 10 ads, the benefit is expected to decline. For planning purposes, HJ recommended reducing the exposure rating to 55 and the estimate of the potential new customers reached to 1500 for any television ads beyond 10. For radio ads, the preceding data are reliable up to a maximum of 15 ads. Beyond 15 ads, the exposure rating declines to 20 and the number of new customers reached declines to 1200 per ad. Similarly, for newspaper ads, the preceding data are reliable up to a maximum of 20; the exposure rating declines to 5 and the potential number of new customers reached declines to 800 for additional ads.

Flamingo’s management team accepted maximizing the total exposure rating across all media as the objective of the advertising campaign. Because of management’s concern with attracting new customers, management stated that the advertising campaign must reach at least 100,000 new customers. To balance the advertising campaign and make use of all advertising media, Flamingo’s management team also adopted the following guidelines:

• Use at least twice as many radio advertisements as television advertisements.

• Use no more than 20 television advertisements.

• The television budget should be at least $140,000.

• The radio advertising budget is restricted to a maximum of $99,000.

• The newspaper budget is to be at least $30,000.

HJ agreed to work with these guidelines and provide a recommendation as to how the $279,000 advertising budget should be allocated among television, radio, and newspaper advertising.

Managerial Report

Develop a model that can be used to determine the advertising budget allocation for the Flamingo Grill. Include a discussion of the following items in your report:

1. A schedule showing the recommended number of television, radio, and newspaper advertisements and the budget allocation for each medium. Show the total exposure and indicate the total number of potential new customers reached.

2. A discussion of how the total exposure would change if an additional $10,000 were added to the advertising budget.

3. A discussion of the ranges for the objective function coefficients. What do the ranges indicate about how sensitive the recommended solution is to HJ’s exposure rating coefficients?

4. The resulting media schedule if the objective of the advertising campaign was to maximize the number of potential new customers reached instead of maximizing the total exposure rating.

5. A comparison of the two media schedules resulting from items 1 and 4, respectively. What is your recomm