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Business Statistics 2

Introduction

Statistical observation is a formed primary statistical data, or initial statistical information, which is the basis of statistical research. If the collection of primary statistical data, or material mistake turned out to be bad quality, it will affect the accuracy and reliability of both theoretical and practical conclusions;
Summary and grouping of data - at this stage of the totality of shares on the basis of differences and combined on the basis of similarity calculated totals in groups and as a whole. Using the method of the phenomena groups depending from the essential features are divided into types, Continue reading...

Part A: Journal Entries to record accounting transactions

1. On December 31st the company sells on credit $5,000 of goods which had been bought a month previously at a cost of $3,500:

Debtors A/cDr5000

Cost of Goods Sold.Dr..3500
2. On December 31st the company sells an unwanted machine for $1,500. The machine was bought at the beginning of 2012 for $8,200 and was expected to be used for three years after which its value had been forecast to be $1,000.

Cash A/c.Dr 1500

Depreciation of Machinery A/c..Dr 4800

Loss on Sale of Machinery A/c Dr.1900

3. On January 2nd the company paid $500 by check for a three year buildings insurance policy.
Insurance Premium Continue reading...

Role of the members of client’s buying center

The case in hand involves 3 members representing the buying center their roles are enumerated as follows:
Firstly, the lead engineer designs the project framework and explicitly defines the processes and material requirements.
Secondly the assembly line manager utilizes raw materials to assemble together and build the final product.
Thirdly the purchase manager makes the final procurement decisions post considering recommendations put together by his lead engineer and assembly line manager.

Type of buying decision they are making and its implications

The type of buying decisions made by the client representatives and its implications are as follows:
In this case the purchase decisions are made by 3 individuals:
The Continue reading...

The successful functioning of a firm depends on how well it frames its strategies. In the short-run ts strategies include setting up the right price of its product, taking up effective advertisement projects and coming up with other marketing strategies. Decisions regarding all these issues require extensive market research. In this analysis we are going to consider the pricing and other decision of a firm that produces low calorie frozen microwavable widgets. We have the regression results of the survey from 26 supermarkets.
The first thing that we need to decide is which regression equation we are going to Continue reading...

There are two variables to be considered in finding a solution to this problem. One of the variables is the number of undergraduate courses to be taught while the other variable is the number of graduate courses. Let X represent the number of undergraduate courses to be taught by Western College of Business in the fall while Y represents the number of graduate courses to be taught in the fall. From the information offered, the following equations can be made.
X ≥ 30

Y ≥ 20

The two equations above relate to the number of graduate courses that can be offered. With regards Continue reading...

PEME2010

Summary
The experiment is meant to study the carbon dioxide absorption process in a packed tower mechanism column. The pressure performance of a packed column was determined experimentally. The calculations shoed that the pressure difference between the top and bottom part of the column is directly proportional to air flow rate; as the water flow rate increases, the pressure difference increases as well. However, at high water and air flow rates, the column flooding appears. The rate of carbon dioxide absorption was calculated. It was determined, that absorption increased carbon dioxide concentration by 80%.

Introduction

Gas absorption is an industrial Continue reading...

[Institution Title]

Chain hotel and boutique hotel

The concept of hotel chains originated from the dawn of globalization and the introduction of commercialism. In fact, while hotels have previously been set-up as individual and independent from other subsidiaries, the need for expansion initiated the growth of hotels and creation of franchisees, subsidiaries and chains of ownership. In the paper presented to the EF International Language School of Brisbane, authors Vincent Das and Patrick De Groote opened with an elaborate definition of what a hotel and a hotel chain is all about. In the article, the authors defined a hotel as “a traditional, commercially run Continue reading...

Introduction

In a truly competitive market, manufacturers and providers of other goods and services are price-takers. That is, there is no incentive rationale why a provider should “price below the marketplace” or even to price above others. Similarly, in a competitive market, the price of the good is “determined by the market supply and the market demand” for it (Baye, 2010). Since competitive markets are considered here, there is also a correlation between what consumers are willing to pay (also known as “price makers”) and how much labor is needed by a producer to meet the needs for this demand Continue reading...