Monthly Archives: June 2015

BUS 620 Ashford WEEK 3 (DQs & Assignment)



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Week 3 -DQ 1: Branding Nordstrom:

 

  • After reading the article “Conservative Nordstrom to sell trendy Topshop fashions,” respond to the following:
  • How does this partnership fit into Nordstrom’s current brand management strategy? Will it appeal to its target markets? How will it allow Nordstrom to differentiate itself from the competition?
  • Is this a risky move for Nordstrom considering the downward sales trends for Topshop in the UK?

 

Week 3 – DQ 2: Marketing Segmentation:

 

 

What are the different levels of market segmentation? Synthesize the segmentation strategies that manufacturers of personal computers should implement to attract both the Gen Y and baby boomer generation to increase their purchases of computers. Are there some examples of companies that have already done a good job of marketing across generations? Respond to at least two of your fellow students.

 

 

Week 3 Assignment – The Case of the New Apple, Inc.

 

 

The Case of the New Apple, Inc. Read the article:

Burrows, P., & Satariano, A. (2012). Can Phil Schiller keep Apple cool? Bloomberg Businessweek. Retrieved from http://www.businessweek.com/articles/2012-06-07/can-phil-schiller-keep-apple-cool#p2

Assignment Instructions:

  • Develop a two- to three-page paper that addresses the following:
  • Is Apple’s brand in jeopardy following the death of Steve Jobs?
  • “There is no place for Apple to go but down.” Synthesize the generic strategies and segmentation strategies that Apple can implement to prevent going down.
  • What do you expect from Apple in the future ? Will Apple experience a continuation of its current trajectory or will Apple’s good fortune change?
  • Paper must be in the correct APA writing style and include a minimum of 2-3 resources, in which one resource must be peer reviewed

 



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BUS 620 Ashford WEEK 5 (DQs & Assignment)



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Week 5 DQ 1: Marketing Channels:

 

 

  • Analyze the challenges that organizations face in the effective transition between selling products using the traditional brick and mortar marketing channel and selling products online. Synthesize the strategies that organizations like Zara and Wal-Mart- two companies that are having difficulty developing eCommerce capability can implement to increase the effortless movement of customers between the traditional and online channels.
  • What are the benefits and limitations of selling through a store front and online?

 

 

Week 5 DQ 2: Going Global

 

 

Identify the strategies for entering into the global market. Assess the strengths and limitations of each. Give an example of a company that has made a success of doing business in the global economy. What lessons from McDonald’s success in the global marketplace are transferable across industries?

 

Week 5 Assignment: Marketing in a Global Economy

 

 

Marketing in a Global Economy. Review the following article:

Faris, S. (2012). Grounds zero: A Starbucks-free Italy. Bloomberg Businessweek. Retrieved from Proquest.

According to the article, Italy poses a “reputational risk” for Starbucks. In a 2-3 page paper, examine some of the challenges Starbuck’s faces in addressing that risk. Determine whether there is a strategic advantage to entering the Italian market. How should competitor’s marketing strategies inform and influence Starbuck’s entry into this new market? Should it even enter Italy at all?

Paper must be in the correct APA writing style and include a minimum of 2-3 resources, in which one resource must be peer reviewed

 



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BUS 620 Ashford WEEK 6 (DQs & Assignment)



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Week 6 DQ 1: Proctor & Gamble in Vietnam:

 

 

 

Review the article:
Coleman-Lochner, L. (2012). P&G plays kindergarten catch-up with Unilever in Vietnam. Bloomberg. Retrieved from http://www.bloomberg.com/news/2012-07-04/p-g-plays-kindergarten-catch-up-with-unilever-in-vietnam.html

  • Discuss the marketing plan insights P&G has gained through its Vietnamese marketing studies. How influential are those discoveries in the development of P&G’s strategy to enter the Vietnamese market?
  • In developing a marketing plan, identify the characteristics of the marketing plan that P&G should implement to boost performance?

 

Week 6 DQ 2: Creating a Plan:

 

 

Provide a brief overview of the product for which you are going to write your Marketing Plan. Why did you choose it? Which elements of the plan are you having difficulty with? What additional information would be needed to make the most informed strategic decisions for the future implementation of your plan?

Guided Response: Provide suggestions to at least one of your classmates on how they may be able to address some of the elements they are struggling with in their plan. In particular, try to focus your feedback on any classmates that are introducing a product in the same, or similar, industry as your own.

 

 

Week 6 Final Paper: Plan

 

 

Focus of the Final Paper

Develop a marketing plan for the successful development, commercialization and introduction of any product of your choice in the market place. You are required to: (1) analyze the general business situation in detail, including organizational strengths and weaknesses, environmental opportunities and threats, industry trends, and direct and indirect competition. Based upon your situation analysis, you will (2) develop an organizational mission and forecast performance goals. Based upon your objectives, you will (3) create a marketing strategy. Based upon your strategy, you will (a) segment and target potential customers. Based upon your customer targets, you will (b) choose an appropriate and integrated marketing mix, including: products and services, pricing, promotion and advertising, distribution and location, and other elements of the marketing program – the summary and specific recommendations for the execution of the plan.

 



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SOC 300 (Strayer) Week 4 – Assignment 1: The Effects of War and Peace on Foreign Aid



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Use the Internet to research one (1) developing nation of your choice. Your research should include an examination of the effects that war and peace have on the distribution of foreign aid, as well as the material covered by the Webtext in Weeks 1 through 3.

Write a three to four (3-4) Pages research paper in which you:

 

  1.  Assess the positive and negative effects that peace and war, respectively, have on the distribution of foreign aid in the developing country that you have selected. Support your response with concrete examples of each of the results that you have cited.
  2.  Analyse the specific actions that the leadership of the selected country has taken, through the use of its foreign aid from donor nations and international lending institutions, to relieve the severe problems caused by warfare…

 

Further Details of Question are Hidden…



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SOC 300 (Strayer) Week 9 Assignment 2: Lending Institutions, Health Care, and Human Capital  



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Use the Internet to research one (1) developing nation of your choice. Your research should include an examination of lending institutions, health care, and human capital, as well as the material covered by the Webtext in Weeks 6 through 9.

 

Write a three to four (3-4) pages research paper in which you:

 

  1. Explore whether or not funding from international lending institutions like the World Bank and the IMF are helping or hindering the social, economic, or political development of the country that you have selected. Support your response with examples.

 

  1. Discuss, with examples, at least four (4) substantive ways in which a healthy population strengthens the economy of the country that you have selected.

 

Further Details of the Question are Hidden…



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MKT 500 Assignment 1 Company Introductions, Market Segmentation, and Product Positioning  



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MKT 500 (Strayer) All Assignments

 

 

 

In this assignment you will describe your fictitious company and provided its background. Then, you are ready to start building the marketing plan with a focus on segmenting and positioning your product and service.

Write a five to seven (5-7) page paper in which you:

A. Write about your company.

  1. Write a detailed company background. Address the following items at a minimum for full credit:
  2. Create a strategic mission statement.
  3. Determine and decide upon at least one (1) foreign market for the product and service. Provide your rationale for this market.

B. Write about your marketing plan.

  1. Discuss the potential audiences for a marketing plan and the needs of those potential audiences.
  2. Identify the marketing segment for the product and provide a rationale for this segment.
  3. Discuss the target market and provide a rationale for this target market.
  4. Perform a SWOT analysis (strengths, weakness, opportunities, and threats) for the company.
  5. Create the market position for your product and service. Explain your rationale.
  6. Support your marketing plan with at least two (2) reference sources that discuss the nature of the product.

 

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.

 

 

MKT 500 (Strayer) Assignment 2 Marketing Products

 

Continuing to build your marketing plan, this assignment focuses on your product and service. Remember from the Assignment Overview that your product must also have a service component.

Write a four to five (4-5) page paper in which you:

  1. Discuss the type of product the company will offer and identify its primary characteristics.
  2. Discuss the service component of the product and how it will be used to enhance the product.
  3. Explain how the product could be expanded to a product line, and the depth and breadth of the line.
  4. Determine how the core business may change in response to industry or market changes.
  5. Support your marketing plan with at least two (2) reference sources that discuss the nature of the product.

 

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.

 

 

MKT 500 (Strayer) Assignment 3 Branding, Pricing, and Distribution

 

Continuing to build your marketing plan, this assignment focuses on branding, pricing, and distribution of your product and service.

Write a four to five (4-5) page paper in which you:

  1. Create the domestic and global product branding strategy.
  2. Determine and detail the optimum pricing strategy.
  3. Examine how your pricing strategy supports your branding strategy.
  4. Prepare a distribution channel analysis identifying the wholesaler, distributor, and retailer relationships (include any e-Commerce as well).
  5. Discuss whether a push or pull strategy will be used, justify your rationale.
  6. Discuss how the distribution strategy fits the product / service, target market, and overall marketing strategy for the company
  7. Support your marketing plan with at least two (2) reference sources that discuss the nature of the assignment

 

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.

 

 

MKT 500 (Strayer) Assignment 4: IMC and Customer Satisfaction

 

 

Continuing to build your marketing plan, this assignment focuses on IMC and customer satisfaction for your product and service.

Write a four to five (4-5) page paper in which you:

 

  1. Discuss the company’s advertising strategy and how it aligns with its marketing goals.
  2. Determine how the effectiveness of the advertising will be measured.
  3. Explain the different promotional strategies that may be used in addition to advertising.
  4. Determine the best marketing research approach to measure customer satisfaction with your company’s product/service.
  5. Decide how gaps in customer expectations and experiences will be addressed
  6. Support your marketing plan with at least two (2) reference sources that discuss the nature of the assignment.

 

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.

 

 

 

MKT 500 (Strayer) Assignment 5: Marketing Strategies

 

 

In this final assignment, you will compile the previous four (4) assignments, addressing the feedback from your professor, as well as adding the marketing strategies.

Write an eighteen to twenty (18-20) page paper in which you:

  1. Write an executive summary of your marketing plan.
  2. Provide the company’s mission statement and company introduction.
  3. Provide the company’s branding, pricing, and distribution plan.
  4. Provide the IMC and customer satisfaction plan.
  5. Provide the following information about the marketing strategies:
  6. Discuss the company’s competitors, and its strengths and weaknesses.
  7. Determine the differentiation strategy in relation to the closest competitor.
  8. Explain whether the company’s intention is to be a leader or follower within the industry.
  9. Assess the macro-environmental issues (legal, technological, social, and economic) trends with which the company must operate.
  10. Identify the most significant trend to impact the business and discuss how the company intends to minimize or capitalize on this trend.
  11. Support your marketing plan with at least ten (10) reference sources that discuss the nature of the assignment.

 

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.


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ECO 550 Managerial Economics and Globalization



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ECO 550 (NEW Strayer Class) Complete Class

 

 

Assignment 1 – Demand Estimation

Assignment 2 – Operations Decision

Assignment 3- Long Term Investment Decisions

Assignment 4 – Market Model Patterns of Change

 

 

ALL Problems

Chapter 1: Problems 2, 3, and 6

Chapter 2: Problems 1, 5, and 6

Chapter 3: Problems 3, 4, and 7

Chapter 4: Problems 5, 6, and 7

Chapter 5: Problems 1, 5, 6, and 9

Chapter 6: Problems 2, 7, 9, and 10

Chapter 7: Problems 1, 6, 8, and 9

Chapter 8: Problems 2(a), 4, and 6(a)

Chapter 9: Problems 3, 4, and 5

Chapter 10: Problems 2, 6, and 10

Chapter 11: Problems 2(a, b), 4(a, c), and 6

Chapter 12: Problems 1, 2(b), and 5(b)

Chapter 13:
Problems 2, 13, and 15

Chapter 14: Problems 3(b, c, d), 5(a, b, c), and 8(a, b, c)

Chapter 15: Problems 2, 5, and 6

Chapter 16: Problems 4, 6(a, c), 9

Chapter 17: Problems 1, 5, and 9(c)

 

Week 2 Quiz Chapter 1 & 2

 

Midterm Exam: Chapters 1 through 8

 

Final Exam: Chapters 9 through 17



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ECO 550 (NEW) All Chapter Problems (Ch 1- Ch 17)  



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Chapter 1: Problems 2, 3, and 6

Chapter 2: Problems 1, 5, and 6

Chapter 3: Problems 3, 4, and 7

Chapter 4: Problems 5, 6, and 7

Chapter 5: Problems 1, 5, 6, and 9

Chapter 6: Problems 2, 7, 9, and 10

Chapter 7: Problems 1, 6, 8, and 9

Chapter 8: Problems 2(a), 4, and 6(a)

Chapter 9: Problems 3, 4, and 5

Chapter 10: Problems 2, 6, and 10

Chapter 11: Problems 2(a, b), 4(a, c), and 6

Chapter 12: Problems 1, 2(b), and 5(b)

Chapter 13:
 Problems 2, 13, and 15

Chapter 14: Problems 3(b, c, d), 5(a, b, c), and 8(a, b, c)

Chapter 15: Problems 2, 5, and 6

Chapter 16: Problems 4, 6(a, c), 9

Chapter 17: Problems 1, 5, and 9(c)



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ECO 550 (NEW Strayer) MID-Term Exam (Chapter 1 to Chapter 8)



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Chapter 1—Introduction and Goals of the Firm

 

MULTIPLE CHOICE

 

1. The form of economics most relevant to managerial decision-making within the firm is:

  1. macroeconomics
  2. welfare economics
  3. free-enterprise economics
  4. microeconomics
  5. none of the above

 

2. If one defines incremental cost as the change in total cost resulting from a decision, and incremental revenue as the change in total revenue resulting from a decision, any business decision is profitable if:

  1. it increases revenue more than costs or reduces costs more than revenue

b. it decreases some costs more than it increases others (assuming revenues remain constant)

c. it increases some revenues more than it decreases others (assuming costs remain constant)

d. all of the above

e. b and c only

 

 

3. In the shareholder wealth maximization model, the value of a firm’s stock is equal to the present value of all expected future ____ discounted at the stockholders’ required rate of return.

a. profits (cash flows)

b. revenues

c. outlays

d. costs

e. investments

 

4. Which of the following statements concerning the shareholder wealth maximization model is (are) true?

a. The timing of future profits is explicitly considered.

b. The model provides a conceptual basis for evaluating differential levels of risk.

c. The model is only valid for dividend-paying firms.

d. a and b

e. a, b, and c

 

5. According to the profit-maximization goal, the firm should attempt to maximize short-run profits since there is too much uncertainty associated with long-run profits.

a. true

b. false

 

6. According to the innovation theory of profit, above-normal profits are necessary to compensate the owners of the firm for the risk they assume when making their investments.

a. true

b. false

 

 

7. According to the managerial efficiency theory of profit, above-normal profits can arise because of high-quality managerial skills.

a. true

b. false

 

8. Which of the following (if any) is not a factor affecting the profit performance of firms:

a. differential risk

b. innovation

c. managerial skills

d. existence of monopoly power

e. all of the above are factors

 

9. Agency problems and costs are incurred whenever the owners of a firm delegate decision-making authority to management.

a. true

b. false

 

10. Economic profit is defined as the difference between revenue and ____.

a. explicit cost

b. total economic cost

c. implicit cost

d. shareholder wealth

e. none of the above

 

 

11. Income tax payments are an example of ____.

a. implicit costs

b. explicit costs

c. normal return on investment

d. shareholder wealth

e. none of the above

 

12. Various executive compensation plans have been employed to motivate managers to make decisions that maximize shareholder wealth. These include:

a. cash bonuses based on length of service with the firm

b. bonuses for resisting hostile takeovers

c. requiring officers to own stock in the company

d. large corporate staffs

e. a, b, and c only

 

13. The common factors that give rise to all principal-agent problems include the

a. unobservability of some manager-agent action

b. presence of random disturbances in team production

c. the greater number of agents relative to the number of principals

d. a and b only

e. none of the above

 

14. The Saturn Corporation (once a division of GM) was permanently closed in 2009.  What went wrong with Saturn?

a. Saturn’s cars sold at prices higher than rivals Honda or Toyota, so they could not sell many cars.

b. Saturn sold cars below the prices of Honda or Toyota, earning a low 3% rate of return.

c. Saturn found that young buyers of Saturn automobiles were very loyal to Saturn and GM.

d. Saturn implemented a change management view that helped make first time Saturn purchasers trade up to Buick or Cadillac.

e. all of the above

 

15.  A Real Option Value is:

a. An option that been deflated by the cost of living index makes it a “real” option.

b. An opportunity cost of capital.

c. An opportunity to implement a new cost savings or revenue expansion activity that arises from business plans that the managers adopt.

d. An objective function and a decision rule that comes from it.

e. Both a and b.

 

16. Which of the following will increase (V0), the shareholder wealth maximization model of the firm:

V0∙(shares outstanding) = S¥t=1 (p t ) / (1+ke)t   + Real Option Value.

a. Decrease the required rate of return (ke).

b. Decrease the stream of profits (pt).

c. Decrease the number of periods from ¥ to 10 periods.

d. Decrease the real option value.

e. All of the above.

 

17. The primary objective of a for-profit firm is to ___________.

a. maximize agency costs

b. minimize average cost

c. maximize total revenue

d. set output where total revenue equals total cost

e maximize shareholder value

 

18. Possible goals of Not-For-Profit (NFP) enterprises include all of the following EXCEPT:

a. maximize total costs

b. maximize output, subject to a breakeven constraint

c. maximize the happiness of the administrators of the NFP enterprise

d. maximize the utility of the contributors

e. a. and c.

 

19. The flat-screen plasma TVs are selling extremely well.  The originators of this technology are earning higher profits.  What theory of profit best reflects the performance of the plasma screen makers?

a. risk-bearing theory of profit

b. dynamic equilibrium theory of profit

c. innovation theory of profit

d. managerial efficiency theory of profit

e. stochastic optimization theory of profit

 

20.  To reduce Agency Problems, executive compensation should be designed to:

a. create incentives so that managers act like owners of the firm.

b. avoid making the executives own shares in the company.

c. be an increasing function of the firm’s expenses.

d. be an increasing function of the sales revenue received by the firm.

e. all of the above

 

21. Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women.  The new frequency recommendation was designed to address the family histories of the patients.  The optimal frequency should be where the marginal benefit of an additional pap-test: 

a. equals zero.

b. is greater than the marginal cost of the test

c. is lower than the marginal cost of an additional test

d. equals the marginal cost of the test

e. both a and b.

 

 

Chapter 2—Fundamental Economic Concepts

 

MULTIPLE CHOICE

 

1. A change in the level of an economic activity is desirable and should be undertaken as long as the marginal benefits exceed the ____.

a. marginal returns

b. total costs

c. marginal costs

d. average costs

e. average benefits

 

 

2. The level of an economic activity should be increased to the point where the ____ is zero.

a. marginal cost

b. average cost

c. net marginal cost

d. net marginal benefit

e. none of the above

 

3. The net present value of an investment represents

a. an index of the desirability of the investment

b. the expected contribution of that investment to the goal of shareholder wealth maximization

c. the rate of return expected from the investment

d. a and b only

e. a and c only

 

4. Generally, investors expect that projects with high expected net present values also will be projects with

a. low risk

b. high risk

c. certain cash flows

d. short lives

e. none of the above

 

5. An closest example of a risk-free security is

a. General Motors bonds

b. AT&T commercial paper

c. U.S. Government Treasury bills

d. San Francisco municipal bonds

e. an I.O.U. that your cousin promises to pay you $100 in 3 months

 

6. The standard deviation is appropriate to compare the risk between two investments only if

a. the expected returns from the investments are approximately equal

b. the investments have similar life spans

c. objective estimates of each possible outcome is available

d. the coefficient of variation is equal to 1.0

e. none of the above

 

7. The approximate probability of a value occurring that is greater than one standard deviation from the mean is approximately (assuming a normal distribution)

a. 68.26%

b. 2.28%

c. 34%

d. 15.87%

e. none of the above

 

8. Based on risk-return tradeoffs observable in the financial marketplace, which of the following securities would you expect to offer higher expected returns than corporate bonds?

a. U.S. Government bonds

b. municipal bonds

c. common stock

d. commercial paper

e. none of the above

 

9. The primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are:

a. the coefficient of variation is easier to compute

b. the standard deviation is a measure of relative risk whereas the coefficient of variation is a measure of absolute risk

c. the coefficient of variation is a measure of relative risk whereas the standard deviation is a measure of absolute risk

d. the standard deviation is rarely used in practice whereas the coefficient of variation is widely used

e. c and d

 

10. The ____ is the ratio of ____ to the ____.

a. standard deviation; covariance; expected value

b. coefficient of variation; expected value; standard deviation

c. correlation coefficient; standard deviation; expected value

d. coefficient of variation; standard deviation; expected value

e. none of the above

 

11. Sources of positive net present value projects include

a. buyer preferences for established brand names

b. economies of large-scale production and distribution

c. patent control of superior product designs or production techniques

d. a and b only

e. a, b, and c

 

12. Receiving $100 at the end of the next three years is worth more to me than receiving $260 right now, when my required interest rate is 10%.

a. True

b. False

 

13.  The number of standard deviations z that a particular value of r is from the mean ȓ can be computed as z = (r – ȓ)/ s.  Suppose that you work as a commission-only insurance agent earning $1,000 per week on average.  Suppose that your standard deviation of weekly earnings is $500.  What is the probability that you zero in a week?  Use the following brief z-table to help with this problem.

 

Z value Probability

-3 .0013

-2 .0228

-1 .1587

0 .5000

 

a. 1.3% chance of earning nothing in a week

b. 2.28% chance of earning nothing in a week

c. 15.87% chance of earning nothing in a week

d. 50% chance of earning nothing in a week

e. none of the above

 

14. Consider an investment with the following payoffs and probabilities:

State of the Economy Probability Return

Stability .50 1,000

Good Growth .50 2,000

Determine the expected return for this investment.

a. 1,300

b. 1,500

c. 1,700

d. 2,000

e. 3,000

 

 

15. Consider an investment with the following payoffs and probabilities:

State of the Economy Probability Return

GDP grows slowly .70 1,000

GDP grow fast .30 2,000

Let the expected value in this example be 1,300.  How do we find the standard deviation of the investment?

a. s = Ö { (1000-1300)2 + (2000-1300)2 }

b. s = Ö { (1000-1300) + (2000-1300) }

c. s= Ö { (.5)(1000-1300)2 + (.5)(2000-1300)2 }

d. s= Ö { (.7)(1000-1300) + (.3)(2000-1300) }

e. s= Ö { (.7)(1000-1300)2 + (.3)(2000-1300)2 }

 

16. An investment advisor plans a portfolio your 85 year old risk-averse grandmother.  Her portfolio currently consists of 60% bonds and 40% blue chip stocks.  This portfolio is estimated to have an expected return of 6% and with a standard deviation 12%.  What is the probability that she makes less than 0% in a year? [A portion of Appendix B1 is given below, where z = (x – m)/s,with mas the mean and sas the standard deviation.]

a. 2.28%

b. 6.68%

c. 15.87%

d. 30.85%

e. 50%

Table B1 for Z

Z       Prob.

-3 .0013

-2.5 .0062

-2. .0228

-1.5 .0668

-1 .1587

-.5 ..3085

0 .5000

 

17. Two investments have the following expected returns (net present values) and standard deviations:

PROJECT Expected Value Standard Deviation

Q $100,000 $20,000

X   $50,000 $16,000

Based on the Coefficient of Variation, where the C.V. is the standard deviation dividend by the expected value.

a. All coefficients of variation are always the same.

b. Project Q is riskier than Project X

c. Project X is riskier than Project Q

d. Both projects have the same relative risk profile

e. There is not enough information to find the coefficient of variation.

 

PROBLEMS 

1. Suppose that the firm’s cost function is given in the following schedule (where Q is the level of output):

 

Output Total

Q (units) Cost

0   7

1 25

2 37

3 45

4 50

5 53

6 58

7 66

8 78

9 96

10   124

 

Determine the (a) marginal cost and (b) average total cost schedules

 

2. Complete the following table.

 

Total Marginal Average

Output Profit Profit Profit

 

0 -48             0 ______

1 -26   ______ ______

2 -8 ______ ______

3   6 ______ ______

4 16 ______ ______

5 22 ______ ______

6 24 ______ ______

7 22 ______ ______

8 16 ______ ______

9   6 ______ ______

10   -8 ______ ______

 

 

3. A firm has decided to invest in a piece of land. Management has estimated that the land can be sold in 5 years for the following possible prices:

Price Probability

10,000 .20

15,000 .30

20,000 .40

25,000 .10

(a) Determine the expected selling price for the land.

(b) Determine the standard deviation of the possible sales prices.

(c) Determine the coefficient of variation.

Chapter 3—Demand Analysis

 

MULTIPLE CHOICE

 

1. Suppose we estimate that the demand elasticity for fine leather jackets is  .7 at their current prices.  Then we know that:

a. a 1% increase in price reduces quantity sold by .7%.

b. no one wants to buy leather jackets.

c. demand for leather jackets is elastic.

d. a cut in the prices will increase total revenue.

e. leather jackets are luxury items.

 

2. If demand were inelastic, then we should immediately:

a. cut the price.

b. keep the price where it is.

c.  go to the Nobel Prize Committee to show we were the first to find an upward sloping demand curve.

d. stop selling it since it is inelastic.

e. raise the price.

 

3. In this problem, demonstrate your knowledge of percentage rates of change of an entire demand function (HINT: %DQ = EP•%DP + EY•%DY).  You have found that the price elasticity of motor control devices at Allen-Bradley Corporation is -2, and that the income elasticity is a +1.5.  You have been asked to predict sales of these devices for one year into the future.  Economists from the Conference Board predict that income will be rising 3% over the next year, and AB’s management is planning to raise prices 2%.  You expect that the number of AB motor control devices sold in one year will:

a. fall .5%.

b. not change.

c. rise 1%r.

d. rise 2%.

e. rise .5%.

 

4 A linear demand for lake front cabins on a nearby lake is estimated to be:  QD = 900,000 – 2P.  What is the point price elasticity for lake front cabins at a price of P = $300,000?   [HINT: Ep = (Q/P)(P/Q)]

a. EP = -3.0

b. EP = -2.0

c. EP = -1.0

d. EP = -0.5

e. EP = 0

 

5. Property taxes are the product of the tax rate (T) and the assessed value (V).  The total property tax collected in your city (P) is:  P = T•V.   If the value of properties rise 4% and if Mayor and City Council reduces the property the tax rate by 2%, what happens to the total amount of property tax collected?  [HINT:  the percentage rate of change of a product is approximately the sum of the percentage rates of change.} 

a. It rises 6 %.

b. It rises 4 %.

c. It rises 3 %.

d. It rises 2 %

e. If falls 2%.

 

6. Demand is given by QD = 620   10•P and supply is given by QS = 100 + 3•P.  What is the price and quantity when the market is in equilibrium?

a.  The price will be $30 and the quantity will be 132 units.

b.   The price will be $11 and the quantity will be 122 units.

c.   The price will be $40 and the quantity will be 220 units.

d. The price will be $35 and the quantity will be 137 units

e. The price will be $10 and the quantity will be 420 units.

 

7. Which of the following would tend to make demand INELASTIC?

a. the amount of time analyzed is quite long

b. there are lots of substitutes available

c. the product is highly durable

d. the proportion of the budget spent on the item is very small

e. no one really wants the product at all

 

8. Which of the following best represents management’s objective(s) in utilizing demand analysis?

a. it provides insights necessary for the effective manipulation of demand

b. it helps to measure the efficiency of the use of company resources

c. it aids in the forecasting of sales and revenues

d. a and b

e. a and c

9. Identify the reasons why the quantity demanded of a product increases as the price of that product decreases.

a. as the price declines, the real income of the consumer increases

b. as the price of product A declines, it makes it more attractive than product B

c. as the price declines, the consumer will always demand more on each successive price reduction.

d. a and b

e. a and c

 

10. An increase in the quantity demanded could be caused by:

a. an increase in the price of substitute goods

b. a decrease in the price of complementary goods

c. an increase in consumer income levels

d. all of the above

e. none of the above

 

11. Iron ore is an example of a:

a. durable good

b. producers’ good

c. nondurable good

d. consumer good

e. none of the above

 

Chapter 4—Estimating Demand

 

Chapter 5—Business and Economic Forecasting

 

Chapter 6—Managing Exports

 

Chapter 7—Production Economics

 

Chapter 8—Cost Analysis



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ECO 550 (NEW) Week 7 Problems



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Chapter 13 and Chapter 14 Problems

 

 

 

Chapter 13: Problems 2, 13, and 15 

 

  1. Consider the following payoff matrix:
  2. Does Player A have a dominant strategy? Explain why or why not.
  3. Does Player B have a dominant strategy? Explain why or why not.

 

  1. Analyze the following sequential game and advise Kodak about whether they should introduce the new product Picture CD.

 

  1. A math graduate student explains to her friend how to approach a group of smartattractive guys who have brought along famous actor Russell Crowe. What shouldher friend do? Ignore Russell Crowe or fixate on Russell Crowe? Explain the equilibrium reasoning underlying your answer.

 

Chapter 14: Problems 3(b, c, d), 5(a, b, c), and 8(a, b, c)

 

  1.  American Export-Import shipping Company operates a general cargo carrier service between New York and several Western European ports. It hauls two major categories of freight: manufactured items and semi manufactured raw materials.

 

  1.  . What are the profit maximizing levels of price and output for the two freight categories?
  2. At these levels of output, calculate the marginal revenue in each market.

 

  1. Phillips Industries manufactures a certain product that can be sold directly to retail outlets or to the Superior Company for further processing and eventual sale asa completely different product. The demand function for each of these market is

 

Retail Outlets: P1 = 60 − 2 Q1

Superior Company: P2 = 40 − Q2

Where P1 and P2 are the prices charged and Q1 and Q2 are the quantities sold inthe respective markets.

Phillips’ total cost function for the manufacture of thisproduct + 8(Q1 + Q2)5.

 

  1. Determine Phillips’ total profit function.
  2. What are the profit-maximizing price and output levels for the product inthe two markets?
  3. At these levels of output, calculate the marginal revenue in each market.

 

  1. The Pear Computer Company just developed a totally revolutionary new personal computer. It estimates that it will take competitors at least two years to produce equivalent products. The demand function for the computer is estimated to be ,500 − 0.0005QThe marginal (and average variable) cost of producing the computer is $900.

    a. Compute the PROFIT maximizing price and output levels assuming Pear acts as a monopolist for its product.

    c. Calculate the contribution to profit and overhead for each of the 10 time periods and prices.

 



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