M&Ms Project Report Assignment Example | Topics and Well Written Essays - 1000 words

M&Ms Project Report - Assignment Example The results were that 51 bags were sampled( 17 students * 3 bags each=51) and the number of candies evaluated was 2872 which were of different colors. 2. Finding out the Standard Deviation and Mean The next phase was to identify the average number of candies/ bag. The statistical average of a sample is called mean . In our case it is 2872/51 which is equal to 56.3 candies/bag. This gives an idea whether the number of candies that was fixed to be in a bag before marketing was more or less than a predecided amount. This is an important aspect of quality check. Apart from mean the Standard Deviation which is the positive square root of mean of squared deviations of all scores from their mean was calculated. The SD thereby indicate the spread or scatter or deviations of scores around a central value(mean). It is expressed by s= square root(summation of deviations/sample size). In our case it is + 1.9234 candies which means in some bags the probability of more or less candies than the mea n(56.3) is 1.9 that is either it can be 58.2 or 54.4. 3. Confidence Interval and Its Importance The confidence interval of a parameter is the range of scores within which the parameter has a given probability of lying.This is called fiducial probability.The two scores forming the lower and upper limits are called confidence limits. The fiducial probability is called the confidence level and when expressed as a percentage gives the degree of confidence in expecting a parameter to lie the given confidence interval. It is thus an interval estimate of a parameter and is more dependable than a point estimate( like the mean). In our analysis for example if we want to evaluate the CI we can infer that the proportion of blue candies in lying between 0.2087 and 0.2391 is 95%. It can be calculated as follows: Upper Limit= Mean + Standard Score (z) at the level of alpha * Standard Error of mean Lower Limit= Mean - Standard Score (z) at the level of alpha * Standard Error of mean. Therefore 1-a lpha=0.95 or 95% fiducial probability. This means that higher the fiducial probability wider the confidence interval and greater the probability of population mean falling in that interval but the lower will be the precision of estimate for true value of population mean. In our case study from the confidence intervals of various candies it seems that the error of 0.11(upper limit-Mean or Mean- Lower Limit) is minimal with the yellow candies so the proportion of yellow candies can be truly estimated the most if we consider the whole population of candies/bag in the M& M industries. The number of candies with a confidence limit has a error of +0.5 4. Part 4- Testing of Hypothesis and Z test. In this portion we try to find out whether the proportions of candies which are estimated are true and there exists no whatsoever any statistical difference of significance of various candies in different bags. The minor difference what is seen is speculated to happened by chance due to sampling a nd there is no significant difference (null hypothesis retained). But if the difference is statistically significant it means certainly that the proportio

The Dutch Disease: Lessons from Norway

The Dutch Disease: Lessons from Norway Methodology This research has exploratory and its empirical object is the Dutch Disease healing process by other countries and through this information offer solutions for Nigeria. The methodology used is the case study and development analysis of the strategies used by other countries for the neutralization of the Dutch Disease. The study consists in a research approach method which is characterized by describing the case of an event and its implications. There are several types of case studies, but here is one exploratory case study in order to create a better conceptual definition and understanding of the cure of Dutch Disease. A literature search was performed from a review, using secondary data analysis. Studies on secondary sources involve bibliographic books and research already done on the subject under study. We selected some expert authors on the subject related to this step. We chose to work with significant authors on the subject for further study each of them. This analysis was organized into three chronological poles, as advocated by Bardin (2004): pre-analysis, material exploration and treatment of results, inference and interpretation. The first phase is characterized as the organizational phase and has three missions: the choice of documents to be submitted to analysis, the formulation of hypotheses and objectives and the development of indicators to substantiate the final interpretation. (Bardin, 2004 p.89). Finally, it was done the treatment and interpretation of the results obtained, in which the raw results are treated in order to be meaningful and valid. (Bardin, 2004, p.95). Thus found significant results that indicate how to neutralize the Dutch in Nigeria, as proposed for the work. Bardin (2004) points out, however, that the results obtained may have a different outcome to the goal initially presented, serving as a basis for further analysis arranged around new theoretical dimensions, or practiced thanks to different techniques. Finally, a conclusion is made about the Dutch Disease by the authors of this work, assessing all the information collected and selected. Norway Norway for decades was the poorest country of the Scandinavian region. However, in the recent economic history the country has been distinguished from the others presenting higher GDP growth compared to the rest of Europe and other developed countries such as United States, as presented in the graph below. This turn of events is conventionally attributed to Norway’s oil discovery in 1969 and subsequent extraction from 1971. In 2012, the petroleum sector represented more than 23 per cent of the country’s total value creation. The revenues from the petroleum sector constitute 30 percent of the state revenues. Today Norway is the 7th largest exporter of oil and the 3rd largest producer of gas in the world. With per capita GDP around $100,000, the Norwegian lifestyle has become such that the work week averages less than 33 hours, one of the lowest in the world, and while unemployment is low, there is large underemployment, made possible by benefits. GDP Growth Source: OECD (2015) However, it is insufficient in explaining the Norwegian economic growth pointing to oil revenues as it was previously explained in detail about the negative relationship between resource wealth and wealth caused by the economic illness of Dutch Disease. In fact, Norway have managed successfully its oil wealth and avoided falling into trap of natural curse. Larsen (2004) explains the change in the speed of growth in the decade after starting the exploration of oil was consistent with symptoms of Dutch Disease, however, continued growing over the two subsequent decades. This is an evidence of an escape from Resource Curse; thus, Norway did not experience retardation from mid-70s to mid-90s. Mehlum, Moene and Torvik (2006) pointed to Norway and other few countries as the only ones that were able to counteract the resource curse and the rent-seeking activities that are usually associated with it. Fosu (2012, pg. 45) argued that Norway escaped from Dutch Disease for several reasons: Norway has a history of natural resource management and integration with other industries through various linkages; The institutions already were developed to handle shocks to the economy such as large changes in terms of trades; The revenues from oil extraction were gradually separated from spending these rents by establishing a buffer fund that helped to stabilize the economy; According these rents from oil exportation became more significant, the buffer fund became larger and a new fiscal policy was implemented in 2001; This fund invested abroad and the returns are used to finance public expenditure with less deadweight loss. In 1996 the Norwegian government signed the Petroleum Act which constitutes the legal basis for the regulation of petroleum sector. In principle, it stated the rent from oil and gas belongs to the Norwegian people through their government. Gylfason (2001) describes that as the Norwegian government has high interest in controlling the oil sector, has decided to expropriate the oil and gas rent through taxes and fees. The State awards a small fee to domestic and foreign oil companies and receives roughly 40 percent of all produced through direct partnership with licensees, taxes and fees that corresponded to about 80 of the resource rent since 1980. Bresser-Pereira (2008) in its paper about a Ricardian approach of Dutch Disease describes that the severity of the natural curse varies according to the difference between the exchange rate equilibrium of the â€Å"market rate† and the â€Å"industrial rate†. The author points to the management of exchange rate through export tax on the commodities as the principal instrument for neutralization of Dutch Disease. Furthermore, the author argues that the resources from tax created to neutralize the natural curse should not be invested in the country but in international fund; therefore, the inflow of resources does not entail the revaluation of the local currency. Bresser-Pereira (2008) explains that Norway by imposing a tax on commodities adjusted the exchange rate equilibrium bringing it to the same level of tradable sector exchange rate equilibrium; thus, neutralizing the Dutch Disease. Moreover, the new â€Å"adjusted† exchange rate will be more beneficial than the previous one; thus, the country will have a structural current account surplus. Gylfason (2001) also describes the oil revenues are deposited in the Norwegian Petroleum Fund allowed to invest only in foreign securities for the benefit of the current and future Norwegians generations. Only the real rate return of these assets is transferred to the annual State budget, according to the fiscal guideline, the government deficit cannot exceed 4 percent of the assets. This is also important to shield the domestic economy from mismanagement, waste and overinvestment. Larsen (2004) defines this shield important because protects the economy from excessive demand and real appreciation when at full capacity, therefore, reduce loss of competitiveness. It is also beneficial when it is not at full capacity to allow some increases in aggregate demand. Fosu (2012) described the two functions of this fund. The first is to secure that oil windfall is not consumed, but converted into financial wealth. The second is to separate these revenues from the domestic spending that would not vary according to the oil price fluctuation (fiscal policy). The idea is to have a stable spending of the oil revenues without interfere in the industry sector structure. Additionally, it helps to shield the non-oil economy from shocks in the oil sector, which can put pressure on the exchange rate. Brahmbhatt, Canuto, and Vostroknutova (2010) discuss solutions for solving the natural resource issue. They argue that fiscal policy is the most important instrument because can make the increase in wealth permanent as the same time as it can constrain the spending effect to reduce volatility. Spending policies toward tradable sector (including imports) and general policies toward improving productivity of private firms help to reduce the negative impacts. Additionally, the government can encourage demand for imports to reduce demand pressure on the non-tradable sector while mitigates pressure on exchange rate appreciation and other adverse effects of natural resource windfall. In the case of Norway we can see in graph below the country has stimulated improvements in the manufacturing sector that has increased its participation in the economy by 5% of GDP while the energy sector has fallen about 10 percent and non-tradable sector remained stable. We can infer that has an effort from the government to push the manufacturing sector through investment in education, business regulations, or reducing trade barriers and bureaucracy. Brahmbhatt et al. (2010) describes that these reforms have the aim of promoting foreign direct investment and create conditions for learning by doing. The exchange rate is impacted by the size of the non-oil budget deficit, or spending revenues as illustrated by Aamodt (2014). In short term oil and gas companies purchases NOK and the Norges Bank’s exchange transactions have influence on the krone exchange rate. Conversely, in long term is the size of non-oil deficit that affects the Norway’s exchange rate. The revenues from oil do not have an impact by the fact that all government revenues from oil are accrued directly in foreign currency. But the government appreciates NOK when sells foreign currency to buy NOK in an amount equivalent to the budget deficit. In other words the breakdown of the government’s net cash flow from oil sector into foreign exchange revenues resulting from oil and gas companies has no influence on the krone exchange rate. With the Petroleum Fund the government isolates the effects of oil shocks and the oil price fluctuations on Norwegian economy because the entry of money into the economy is controlled and planned according to the need of the country. The State can make long term plan regarded to its domestic spending and; consequently; maintain the krone exchange rate and inflation stable even when the oil demand decreases. Other factors were important to neutralize the resource curse in Norway as stated by Gylfason (2001). The author explains that Norway has a centralized wage formation system to limit general wage increases at the magnitude of productivity increases in manufacturing sector. This is possible because the trade unions are large coalitions of employers and employees that are able to consider aggregate interests instead of special ones. Additionally, both parts use a neutral agency to compute productivity increases in the manufacturing sector, institutionalize this information as ceilings of general wage increases. Therefore; the country’s centralized wage negotiation system contributes to prevent fast appreciation of salaries in different sectors. Larsen (2004) argues that income coordination is important as the public sector limited wage increases to the productivity growth in the internationally competing industrial sector. In other words, this income coordination neutralized the impact of externality in the manufacturing sector avoiding high inequalities between tradable sector and resource sector. This is an important factor for the neutralization of Dutch Disease as reduces the labor shift between the two sectors. The graph below shows the wage evolution in Norway since 2002 in which we can see that gap between oil sector and the others never exceeded 2 per cent in this period. Institutional quality is considered by Mehlum et al. (2006) as an important element to reduce the effects of Dutch Disease as natural resource abundance stimulates the shift from production rent-seeking to the activities related to resource extraction. The authors associate the lack of natural curse with the existence of efficient, bureaucratic and transparent government. They presented a model in which shows the negative effect of resource abundance on growth vanishes in countries with high institutional quality like Norway. The quality of institutions is also related to the corruption perception index as a measure of rent-seeking. Gylfason (2001) found a relation between natural resources wealth and increase in corruption and; consequently; decrease the per capita growth. In Norway’s case, the author showed that since oil was discovered, the corruption has declined and country’s GDP growth was stable during the last three decades. The graphs below shows Norway keeps a high level of freedom of corruption placed between 10 less corrupted countries of the world while economic growth spurted since the oil descovery, especially after 2000. Finally, the public expenditure on education in Norway did not decrease after oil descovery. According to OECD, Norway has an incredible 100% literacy rate and is third country which invests more in education, what proves the government decisions are not oriented to favor natural resource extraction instead of other tradable goods production. Gylfason (2000, p. 4) in its studies about the correlation between natural resources, education and economic development showed that countries with natural resources wealth invest less in education and; consequently; has a poor economic performance. Nevertheless, the author mentions that Norway is one of the few exceptions: â€Å"The Norwegians show no signs of neglecting education, on the contrary, as the proportion of each cohort attending colleges and universities in Norway rose from 26 percent in 1980 to 62% in 1997†.

The Effects of Obesity Essay -- Health and Wellness

Obesity is a well documented problem in the United States. Every year, billions of dollars are spent on this epidemic and the plethora of diseases and issues it causes. This has been shown to be a problem at the state as well as the national level. In order to better understand the impact it has, we will discuss the issue of obesity as a whole, the problems associated with this disease, the costs of those problems, as well as possible solutions to this growing problem in our country. For the purposes of this paper, it is important to give reference points with regards to certain key definitions. The generally accepted way of defining obesity is in the National Institutes of Health Weight Classification system. This system relies on the use of BMI as computed using the weight in kilograms divided by the height in meters squared. The following cutoff points are given for the defined words: underweight- BMI 30.0 kg/m2. These benchmarks will be the defined values for the given words throughout this paper. According to a brief prepared by Dr. Eric Wright for the Indiana Center for Urban Policy and the Environment in May of 2006, nearly 97 million adults in the United States are obese or overweight. That number had doubled in the previous 30 years and is predicted to continue that upward trend. This means that nearly 2 out of every 3 adults in the US are obese or overweight. The surgeon general, Dr. Richard Carmona reported in 2003 that 1 out of every 8 deaths in the US is caused by an illness that is directly correlated to obesity. Obesity is caused by a number of different factors, the main ones being: inacti... ...s, Blacks Had 51% Higher and Hispanics Had 21% Higher Obesity Rates." Centers for Disease Control and Prevention. CDC. Web. 1 Jan. 2012. Finkelstein, Eric A., Ian C. Fiebelkorn, and Guijing Wang. "Obesity - State-Level Estimates of Annual Medical Expenditures Attributable to Obesity[ast][ast]." Nature Publishing Group : Science Journals, Jobs, and Information. Web. 1 Jan. 2012. Carmona, Richard H. "The Obesity Crisis in America." Office of the Surgeon General (OSG). Web. 1 Jan. 2012. Paddock, Ph.D, Catherine. "Medical News Today News Article." Medical News Today: Health News. Medical News Today. Web. 1 Jan. 2012.

Key learning point: Perception Essay

Perception refers to how a person connects to their environment. In order to respond appropriately, people interpret messages and events in their environment as they perceive them. However complexity of the environment may sometimes bring about perceptual errors as the individual tries to take short cuts to process all the information. Reason for Selection: Errors in perception may sabotage a great business prospect especially if the misconception is personal. Perceptual areas include stereotyping where an individual assigns to a person certain attributes just because he belongs to a particular class or group of people. A phenomenon called halo effect may also result from errors in perception. It involves generalizing a variety of individuals characteristics based on only knowledge of one attribute. An individual may also single out information that supports a particular belief while ignoring any contrasting information. This is referred to as selective perception. Other times one may find the need to protect their own self concept and assign to others characteristics or feelings they possess themselves. Application to a business or personal situation: While working in Kenya for a pharmaceutical company whose manufacturing plant is in India, I had to pick the Senior International Brands manager at the airport. Being his first time in Kenya his perception was Kenyans being Africans don’t have enough resources to own motor vehicles for personal transit and openly said so to a taxi driver, the driver stopped the car threw out our luggage and sped of angrily mumbling to himself and since it was raining and we were already a few kilometers off the airport we had to stay at the road for hours to get another cab. Action or steps taken to improve: Asking my clients in a friendly way how they do particular things appreciate and point out how wonderful it is to have diversity in our business world. Try to come up with ways you can make use of particular attributes that you possess in a positive way or try and change yourself. Whenever you are in doubt about any particular fact about your client to kindly ask for explanation from the client. References Squidoo (2010). A goldmine of journal Writing Prompts. Retrieved on 25th July, 2010, from http://www. squidoo. com/journalwritingprompts

Free Essays on The Case Of The Unpopular Pay Plans

The Case of the Unpopular Pay Plans Tom Ehrenfeld (HBR Jan- Feb 1992) Yogesh Yadav Roll no 451 GUDMS The command and control style of leadership is becoming redundant and the team-based approach to work is increasingly becoming popular. It is the most essential component of success as diversity of ideas and input helps a lot in making better decisions aligning teams toward a common objective and creating the same incentive system across the entire company would help direct everyone’s talent toward creating value for customers and shareholders. Teamwork plays an important role in the success of any organization. Teamwork characterizes values that encourage listening and responding constructively to others’ views, providing support, and recognizing the interests and achievements of others. These values ensure team performance, individual performance, and organizational performance. The new pay plan rolled out has all these features incorporated in it. Yet we see, not all employees are in the favor of the same. Then what should Sam Verde do before he rolls out a new plan for TopChem Before rolling out the compensation / pay system for TopChem, Sam Verde should ask himself â€Å" What does the compensation package want to convey to the employees?† Whether we realize it or not, it is says a lot. Childcare and health benefits say that you value family. Throwing a party at the end of your business's busy season lets the employees and their families know that you appreciate it when your people go the extra mile. That message is important. It is important, therefore, that he gives a lot of consideration to the compensation structure. After all, for employees, compensation is the equivalent not to how they are paid but, ultimately, to how they are valued. He should make some minor modification to the system as follows: 80 % of the former pay (base pay now) should be determined by internal equity so as to avoid... Free Essays on The Case Of The Unpopular Pay Plans Free Essays on The Case Of The Unpopular Pay Plans The Case of the Unpopular Pay Plans Tom Ehrenfeld (HBR Jan- Feb 1992) Yogesh Yadav Roll no 451 GUDMS The command and control style of leadership is becoming redundant and the team-based approach to work is increasingly becoming popular. It is the most essential component of success as diversity of ideas and input helps a lot in making better decisions aligning teams toward a common objective and creating the same incentive system across the entire company would help direct everyone’s talent toward creating value for customers and shareholders. Teamwork plays an important role in the success of any organization. Teamwork characterizes values that encourage listening and responding constructively to others’ views, providing support, and recognizing the interests and achievements of others. These values ensure team performance, individual performance, and organizational performance. The new pay plan rolled out has all these features incorporated in it. Yet we see, not all employees are in the favor of the same. Then what should Sam Verde do before he rolls out a new plan for TopChem Before rolling out the compensation / pay system for TopChem, Sam Verde should ask himself â€Å" What does the compensation package want to convey to the employees?† Whether we realize it or not, it is says a lot. Childcare and health benefits say that you value family. Throwing a party at the end of your business's busy season lets the employees and their families know that you appreciate it when your people go the extra mile. That message is important. It is important, therefore, that he gives a lot of consideration to the compensation structure. After all, for employees, compensation is the equivalent not to how they are paid but, ultimately, to how they are valued. He should make some minor modification to the system as follows: 80 % of the former pay (base pay now) should be determined by internal equity so as to avoid...

The course of true love never did run smooth. A Comparison of Romeo and Juliet A Midsummer Nights Dream (honors student)

The course of true love never did run smooth. A Comparison of Romeo and Juliet A Midsummer Nights Dream (honors student) A Midsummer Nights Dream can be compared with the play Romeo and Juliet. They both encompass many of the same themes of love. Love is prohibited, true, lustful, and desired. In A Midsummer Night's Dream Lysander demonstrated the overriding theme of both plays, "The path of love never did run smooth" (1.i.14). The two plots revolve around two couples that are in love with each other, yet cannot be joined together because of family members who prohibit the lover's love. The endings are very different, but with a few changes both could have resulted in a tragedy or comedy.True love is shown and prohibited in both plays. In a Midsummer Night's Dream Egeus, Hermia's father does not want her to marry Lysander, but Demetrius. Hermia and Lysander are in love, yet her father thinks she is just blinded. He forbids Hermia to marry Lysander and if she does she will be put to death or have to become a nun.English: "Midsummer Nights Dream Act IV Scene IA...Romeo and Juliet cannot be together becau se their families hate each and are feuding. Even though the couples are truly in love the authoritative figures cannot see this and think they are just love struck. The plays show that love is in the eye of the beholder and one cannot choose who they love.Love is very powerful and both plays depict this. The love that the lovers have will not just go away because it is not approved of. They are willing to do anything to be together because of the love they share. Romeo and Juliet marry secretly. Afterwards, Romeo is exiled from Verona and Juliet contemplates to commit suicide because she is not able to be with her love. Finally, with her father's command to wed Paris she decides to fake her death. Juliet would...

Human Resource management Assignment Example | Topics and Well Written Essays - 2750 words

Human Resource management - Assignment Example However, most companies used the common technique of terminating employment of a given number of individuals. When most organizations face weak economy and low profits, executives try to solve this through cost cutting. This includes conducting the downsizing process. Through this process most organizations are able to better their earnings for a shorter period as most of the organizations cannot sustain these gains. This happens as organizations reduce the labor costs by laying off employees. However the hidden costs of downsizing are unbearable to most organizations. This is because the workforce is eliminated from the organization but the work load remains intact. This can cripple organizations effectiveness. The resulting challenge which faces organization’s managers is that they will be forced to review their system and add costs by introduction of: overtime program, casual staff and even long working hours in order to recover what has been lost. On top of incurring high financial costs, emotional costs that are immeasurable can be experienced. For the surviving employees they w ill have no choice but to work harder than usual. Effectiveness and efficiency are major goals of organization’s retrenchment. Therefore, the business entities can retrench redundant workers to pave way for mechanized production process aimed at speeding up production and improving quality of products or services. Gandolfi (2006 p. 2), asserted that downsizing was used by organization in 1990s as a practical measure to increase organizational efficiency and effectiveness. It is a strategic management tool that has affected thousands of organizations and lives of millions workers in the world. Companies experience conditions that compel them to retrench a portion of its work force. The circumstances that cause downsizing include market reduction, economic recession, loss