Assignment 1: Demand Estimation

Due Week 3 and worth 200 points

Imagine that you work for the maker of a leading brand of low-calorie, frozen microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April.

For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at http://www.sophia.org/tutorials/independent-and-dependent-variables–3.

Option 1

Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets.

QD       =          – 5200 – 42P + 20PX + 5.2I + 0.20A + 0.25M

(2.002)  (17.5) (6.2)    (2.5)   (0.09)   (0.21)

R2 = 0.55           n = 26               F = 4.88

Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables:

Q          =          Quantity demanded of 3-pack units

P (in cents)       =          Price of the product = 500 cents per 3-pack unit

PX (in cents)     =          Price of leading competitor’s product = 600 cents per 3-pack unit

I (in dollars)       =          Per capita income of the standard metropolitan statistical area

(SMSA) in which the supermarkets are located = $5,500

A (in dollars)     =          Monthly advertising expenditures = $10,000

M                     =          Number of microwave ovens sold in the SMSA in which the

supermarkets are located = 5,000

Option 2

Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets.

QD       =          -2,000 – 100P + 15A + 25PX + 10I

(5,234)  (2.29)   (525)   (1.75)  (1.5)

R2 = 0.85           n = 120             F = 35.25

Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables:

Q          =          Quantity demanded of 3-pack units

P (in cents)       =          Price of the product = 200 cents per 3-pack unit

PX (in cents)     =          Price of leading competitor’s product = 300 cents per 3-pack unit

I (in dollars)       =          Per capita income of the standard metropolitan statistical area

(SMSA) in which the supermarkets are located = $5,000

A (in dollars)     =          Monthly advertising expenditures = $640

Write a four to six (4-6) page paper in which you:

1. Compute the elasticities for each independent variable. Note: Write down all of your calculations.
2. Determine the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Provide a rationale in which you cite your results.
3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation.
4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 cents.
   1. Plot the demand curve for the firm.
   2. Plot the corresponding supply curve on the same graph using the following MC / supply function Q = -7909.89 + 79.1P with the same prices.
   3. Determine the equilibrium price and quantity.
   4. Outline the significant factors that could cause changes in supply and demand for the low-calorie, frozen microwavable food. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.
5. Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves for the low-calorie, frozen microwavable food.
6. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia does not qualify as an academic resource.

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 how production and cost functions in the short run and long run affect the strategy of individual firms.
• Apply the concepts of supply and demand to determine the impact of changes in market conditions in the short run and long run, and the economic impact on a company’s operations.
• Use technology and information resources to research issues in managerial economics and globalization.
• Write clearly and concisely about managerial economics and globalization using proper writing mechanics.

Deliverable Length:  4-5 body pages

You are employed at a large global high-tech company that has offices worldwide in such places as Tokyo, London, Bombay, Toronto, Mexico City, Chicago, and Seattle to name a few. Although the sales has been reasonable these past few months even with the global economic crises, an internal crises exists related to employee morale being at an all-time low. There are many different beliefs on what is right and what is wrong across the board, especially when it comes to the cultural and communication differences and the technological equipment challenges. There are also concerns regarding the selfishness of the employees; where the employees do not enjoy working as a team. Your supervisor has asked you as the VP of the Service Department to prepare a research paper that will communicate information and solutions as well as provide a foundation of knowledge so that you can work with your peers and employees to solve these problems. At a minimum, your research paper must:

• Analyze and evaluate the different leadership theories and behavior approaches, including the Tuckman four stages of group development model.
• Evaluate the importance of the internal environmental factors that include the cultural, language, political, and technological differences.
• Apply the necessary steps to overcome the identified challenges with the different sources of power that must be taken into account.

Present your findings as a Word document of 4-5 pages formatted in APA style.

Submitting your assignment in APA format means, at a minimum, you will need the following:

• Title page: Remember the running head and title in all capital letters.
• Abstract: This is a summary of your paper, not an introduction. Begin writing in third-person voice.
• Body: The body of your paper begins on the page following the title page and abstract page, and it must be double-spaced between paragraphs. The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics except as required for APA level headings and references. The deliverable length of the body of your paper for this assignment is 4-5 pages. In-text academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
• Reference page: References that align with your in-text academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hang indention, italics, and upper- and lower-case usage as appropriate for the type of resource used. Remember, the reference page is not a bibliography, but it is a further listing of the abbreviated in-text citations used in the paper. Every referenced item must have a corresponding in-text citation.

At the crime scene, you have completed the initial walk-through and are planning your collection of the evidence at the scene, when a new investigator approaches you and asks about the differences between individual and class characteristics of physical evidence.

“Didn’t they teach you this at the academy?” another investigator mutters under her breath.

The new investigator looks sheepish, but you assure him that you will get him up to speed regarding these characteristics of physical evidence. In this assignment, you will explain to the new investigator the differences between class and individual characteristics of physical evidence.

Assignment Guidelines

• Address the following in 3–5 pages:
  • Specifically, what are class characteristics of physical evidence? Explain in detail.
    • Provide 3 different examples that illustrate your explanation
  • What else must exist for evidence with class characteristics to be used in court? Explain.
  • Can a type of physical evidence be considered a class characteristic at one crime scene and an individual characteristic at another? Why or why not? Explain in detail.
    • Provide 2 different examples that illustrate your explanation.
  • What must an investigator consider regarding the use of class characteristics as evidence in court? Explain.
  • What must an investigator consider regarding the use of individual characteristics as evidence in court? Explain.
• Be sure to reference all sources using APA style.

 

Week 4 – Discussion 1

 

Planning for Students with Intellectual Disabilities

 

Please read Intellectual disability: Matthew’s story.Discuss what it means to have an intellectual disability and how this might impact Matthew’s overall education.  Then, based on his interests and needs, discuss the supplementary supports and services that could be integrated into his IEP to support his success in school.  Further, discuss specific ways in which interagency collaboration and community-based instruction could support Matthew in achieving his goals and dreams beyond high school. If applicable, share any personal or professional experiences you have had with working with students with an intellectual disability.

Guided Response: Review your classmates’ posts and provide any additional insights and/or ideas you might have regarding supplementary supports, services, or community-based collaboration for educating students with intellectual disabilities.

 

Week 4 – Discussion 2

 

Supporting Students with Physical Impairments

 

Consider the characteristics of an individual with physical disabilities.  Choose one physical disability area you are interested in learning more about (e.g. spina bifida or cerebral palsy) to elaborate on. How might the characteristics of your chosen disorder affect development and learning? What accommodations could an educator make to address the needs of a student with a physical disability?  What related services might support the needs of a student with this disability?  What assistive technology tools or devices might provide greater access and independence for students?

Guided Response:  Review the responses of several classmates’ and respond to at least two of your classmates by providing feedback, further examples, questions, or friendly guida