Economics

by Emily Parker July 20, 2016
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(a) Provide a descriptive analysis of the two variables (e.g., mean, standard deviation, minimum and maximum).
(b) Develop a scatter diagram with a retention rate as the independent variable. What does the scatter diagram indicate about the relationship between the two variables?
(c) Develop and estimate a regression equation that can be used to predict the graduation rate (%) given the retention rate (%).
(d) State the estimated regression equation and interpret the meaning of the slope coefficient.
(e) Is there a statistically significant association between graduation rates (%) and retention rate (%). What is your conclusion?
(f) Did the regression equation provide a good fit? Explain.
(g) Suppose you were the president of South University. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities?
(h) Suppose you were the president of the University of Phoenix. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities?
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a) Explain what would happen in the short run to the equilibrium price and industry output; number of firms in the industry; output and profit of each firm. Illustrate on diagrams for the market and a particular firm.
b) Explain what would happen in the long run to the equilibrium price and industry output; number of firms in the industry; output and profit of each firm. Illustrate on diagrams for the market and a particular firm. Compare both to the initial long run equilibrium and to the short run equilibrium.a) Draw the Edgeworth box for Xiao Ping and James. Please put Xiao Ping at the origin and James “upside down”; put sushi on horizontal axis and miso on vertical. Show their endowment point.
c) Show all Pareto optimal allocations of miso and sushi between Xiao Ping and James in the Edgeworth Box. Please note that this question is a bit tricky, though not difficult. Draw a bunch of indifference curves and look for tangencies.

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The Chinese economy in 2025 and the impact on South Africa.
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Robert is currently single, unemployed and looking for a job. He has found a job that pays him a wage (r) of $15 per hour. He has a total time (T) of 24 hours a day available for work (W) and leisure (L). His income from both the mediums is taken together in the vertical axis.

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How are you as a consumer affected by changes in international currencies? What are the factors driving changes in the value of international currencies? Why do all business people need to understand the importance of the international banking and monetary system and how it impacts on their own enterprise?

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For a country of your choice, critically discuss the following view: ‘Economic growth, sustainable development and migration coexist’.
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Cast Study Analysis: urban sustainability/ urbanization processes.

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Case Study Analysis-You may sometimes find that cases have incomplete information or that managers have made decisions based on incomplete information. In this instance, you may need to (a) make some assumptions about why they made these decisions and describe these, or (b) research the company or the industry (or both) and determine the appropriateness of your assumptions. You may also wish to conduct some additional research into the industry for ideas and trends.
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1) Introduce your good or service
2) Assess the likely non-price determinants of demand for your good or service over the next decade. Ensure you provide an overall assessment of whether demand is likely to have increased/decreased or stayed relatively constant over the period.
3) Assess the likely non-price determinants of supply for your good or service over the next decade. Ensure you provide an overall assessment of whether supply is likely to have increased/decreased or stayed relatively constant over the period.
4) Bring together your demand and supply forecasts, and therefore draw a conclusion about the overall market price/quantity at the end of the decade. Note: price changes due to underlying inflation are not of interest – we are only interested in real (ie: inflation adjusted) price changes.
5) Note any potential risks and/or opportunities related to your good or service. Pay particular attention to risks and/or opportunities from a sustainability/sustainable development perspective.

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Essay topic :
There is significant evidence that global population growth is straining the Earth’s natural resources. What role does urbanisation play in global environmental degradation on the one hand, and in striving for a more sustainable use of scarce natural resources on the other hand? Discuss with appropriate examples.

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What makes emerging economies an attractive destination for global businesses? Discuss the risks involved in such countries. Write an essay (1500 words) addressing the following 2 questions:
1. Explain why globalisation is not only an imperative for survival, but also an opportunity for future growth of domestic businesses.
2. What makes emerging economies an attractive destination for global businesses? Discuss the risks involved in such countries.

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(a) The manager is suggesting the use of a simple random sample of 20 boxes from the 500 boxes used in July to view the situation. Given that the proportion of such mismatch in the past has been only 3%, what is the probability that the manager will find the proportion of mismatches in a sample of 20 to exceed 5%?
(b) Select a simple random sample of 20 boxes, and obtain a 90% confidence interval estimate for the proportion of mismatches in the month of July.
(c) Based on the confidence interval estimate obtained in part (b), can we suggest to the manger that the proportion of mismatches is still 3%?
(d) Assuming that the proportion of mismatches is still 3%, is a sample of 20 boxes large enough to provide the manager a 90% assurance that the margin of estimation error will not exceed 2%?
(e) A new member on the management team suggested that a systematic random sample would be better, because such a sample will be able to detect any cyclical pattern in the usage. Select a systematic random sample of 20 boxes.
(f) Report estimates of the standard errors of the sample proportions of mismatches based on the two samples obtained in parts (b) and (e). How do the two estimates compare? Comment.
(g) Assuming that the workers who forget to record the usage became slack and negligent as the month progressed, which sampling method (systematic random or simple random) is likely to reflect this feature of the data better and why? (a) Describe the variable type and the measurement scale of variables Gender and Amount Spent.
(b) Can we conclude at 5% level of significance that on average females spend more money in a single transaction than males? Provide all necessary details on the test(s) required to support your answer, giving reason (s) for the choice of your test.
(c) What assumptions did you make in performing test (s) in part (b)?
(d) Report the proportions of males and females who spent more than $120 during Easter Monday sales.
(e) On the basis of sample evidence, can we conclude that there is no difference in the proportions of males and females who spent more than $120?”

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Assignment summary ON INTERNATIONAL CURRENCY FLUCTUATION AND IMPACT solution for 10 Minutes Speech

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1. Explain the similarities and differences between an economic cost-benefit analysis and a utilitarian approach to moral reasoning. Use an example of a case from the unit readings to illustrate your explanation. (Focus especially on Grace & Cohen, Chapter 1 and Sorrell & Hendry, ‘Narrow and Broad Business Ethics’ in e-Reserve). See also Steven Kelman ‘Cost-Benefit Analysis: An Ethical Critique’ and H. Leonard & R, Zeckhauser, ‘Cost-Benefit Analysis Defended’ in e-Reserve).
2. Using an example, explain why Kant thinks that self-interested motivation is not compatible with moral motivation. How, if at all, might Kantian moral reasoning be applied in the business sphere?
3. Compare and contrast the view (articulated by Milton Friedman) that the function and primary ethical obligation of a corporation is to maximise profits for the shareholders with Richard Freeman’s stakeholder analysis of the function and obligations of corporations. (Milton Friedman, ‘The social responsibility of business is to increase its profits’; William Evan and Richard Freeman ‘A stakeholder theory of the modern corporation: Kantian capitalism’, both in e-Reserve).
4. Explain Thomas Hobbes’ argument for a general alignment between morality and self-interest and explain one of the major objections to this view. (Sorrell & Hendry, ‘Narrow and Broad Business Ethics’ in e-Reserve).

 

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