A forecasting method Essay

1. Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry? 2. The use of quarterly data to develop the forecasting model Yt = a +bYt−1 is an example of which forecasting technique? 3. Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example? 4. The type of economic indicator that can best be used for business forecasting is the: 5. An example of a time series data set is one for which the: 6. If two alternative economic models are offered, other things equal, we would 7. European Union labor costs exceed U.S. and British labor costs primarily because 8. If Ben Bernanke, Chair of the Federal Reserve Board, begins to tighten monetary policy by raising US interest rates next year, what is the likely impact on the value of the dollar? 9. If the British pound (â‚ ¤) appreciates by 10% against the dollar 10. An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles? 11. Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to 12. In an open economy with few capital restrictions and substantial  import-export trade, a rise in interest rates and a decline in the producer price index of inflation will 13. Trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because 14. Marginal revenue product is defined as the amount that an additional unit of the variable input adds to ____. 15. The marginal product is defined as: 16. Which of the following is never negative? 17. The combinations of inputs costing a constant C dollars is called: 18. The marginal rate of technical substitution may be defined as all of the following except: 19. Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____. 20. If TC = 321 + 55Q – 5Q2, then average total cost at Q = 10 is: 21. The cost function is: 22. What method of inventory valuation should be used for economic decision-making problems? 23. For a short-run cost function which of the following statements is (are) not true? 24. According to the theory of cost, specialization in the use of variable resources in the short-run results initially in: 25. ____ are defined as costs which are incurred regardless of the alternative action chosen in a decision-making problem.

Air Conditioning Essay Example | Topics and Well Written Essays - 1500 words

Air Conditioning - Essay Example res and unendurable steaminess thousands of people may turn on possibly one of the biggest inventions and developments of all time, which is the air conditioners (Varrasi, 2011). The air conditioner is basically a machine that is used to control the temperature and humidity level of a space. The air conditioner generally serves to distribute conditioned air in places that are occupied, especially by humans, thereby making it more comfortable for habitation. Although there are risks in using air conditioners, the benefits definitely outweigh the risks. This paper will discuss the air conditioner. First, the paper will discuss the history of air conditioning. Secondly, the benefits and the advantages of air conditioning will be discussed. This will be followed by the risks and disadvantages of air conditioners. The paper will close with a summary and conclusion. Throughout human history, several attempts have been made to avoid the discomfort that comes with a lot of heat. To this effect, humans have made several attempts to keep cool during hot summer months. Humans took refuge in shades and found comfort in the protection that they offered against the sun and hot grounds during prehistoric times, much as they do the same today as noted by Kreider (2008). With time humans started relying on architectural designs to achieve the same goal. To-date many buildings and constructions are simply designed to take advantage of natural ventilation. While this is the case, the fundamental idea behind air conditioning found application in ancient Egypt as noted by Kreider (2008). In ancient Egypt, people commonly hung reeds moistened with trickling water in windows. The water that evaporated from the reeds cooled the air that blew through the window into the house. As this happened, the air also got more humid. Ancient Romans on their part circulated water drawn from aqueducts through building walls to keep the buildings cool. While this was the case in ancient

Super size me ( the movie ) written aurgument Essay

Super size me ( the movie ) written aurgument - Essay Example And if he is asked to super size the meal, he has to say yes. Spurlock’s reason for his position is to prove that eating products which are modified such as refined carbohydrates and sugars, products that have preservatives and products which have high calories are harmful to our health and it would complicate our heart, liver, blood and other parts of our body. And most of these products are found in fast food restaurants. He uses this experiment as his means to support his reasons. During Spurlock’s first week of McDonald’s diet he gained 8.5 pounds, which is from 185.5 pounds (Spurlock’s weight before McDonald’s diet) to 194 pounds. During the first week Spurlock was consuming 5000 calories per day which is way above the amount of calories he needs per day which is only 2500 calories. During the second weigh in, Spurlock gained 9 pounds, which is from 194 pounds – 203 pounds. During his third weigh in he lost 1 pound, which is from 203 pou nds – 202 pounds. But his cholesterol levels went up from 165 – 225, his SGOT levels went from 21 – 130 and his SGPT levels went up from 20 - 290. The rapid growth of his cholesterol levels and liver enzymes levels (SGOT/SGPT) made the doctor advice Spurlock to stop his high fat diet before it gets worse. The people who would disagree with Spurlock are the people who are behind the fast food company. The fast food company claims that they are part of the obesity problem but they also claimed that people have the freedom to choose where and what to eat. Fast food restaurants don’t force people to eat their products, but billions are spent on advertising these products. It is on paper, radio, television and internet. Plus they have this must-have-toys and playgrounds which is very inviting to the kids. Spurlock responds to this by letting people have more healthy options. Spurlock visited numerous

The Relationship between history, theory, and doctrine in the Essay

The Relationship between history, theory, and doctrine in the evolution of military tactics - Essay Example Military Tactic and Strategy Military tactics are the means and art of which an organization of army employs techniques and weaponry to defeat the enemy during battle (Clausewitz, 1832). It is the lowest level of military planning, followed by operational, and encompassed by the highest level which is military strategy. Military strategy has evolved to mean more than war time but now encompass even peace time and the strategies involved to prevent war itself (Lider, 1981). Previously, Clausewitz (1832) defined military strategy as â€Å"the deployment of the battles as the means toward the attainment of the object of war,† (12). Hart (1980) also re-joined with his description as â€Å"the art of distributing and applying military means to fulfil the ends of policy,† (page) both of which imply armed violence. However, it is also notable that strategy meant more that the use of armed violence but covered policy, political, economic, ideological and techno-scientific means of nations in pursuit of victory (Lider, 1981). Earle (1944) included in military strategy even activities of peacetime to encompass non-military factors of economic, psychological, moral, political, and technological aspects to become an art of controlling all the resources of a nations and its allies to secure vital interests against enemies, perceived or otherwise. It integrates all military efforts and policies as a â€Å"grand strategy† for peace and war time. War is the object of which should be prevented or prepared for in peacetime. Osgood (1962) also defined military strategy as â€Å"nothing less than the overall plan for utilizing the capacity for armed coercion – in conjunction with the economic, diplomatic, and psychological instruments of power – to support foreign policy most effectively by over, covert and tacit means,† (5). Third definition of military strategy included both the means and the ends so that it uses the entire state power o r its aggregate potentials to attain the whole or majority of its political goals (Lider, 1981). Holloway (1979) added in the grand strategy all elements of a society’s power to support its security objectives with the main one being the prevention of â€Å"the loss of our way of life† (19). Principles of Military Tactics There are a variety of military tactics employed in battlefield. One of them is the United States’ Army’s version which trains soldiers of the following: Simplicity in a tactical plan maintains simple concept and execution where failure points are avoided. Direct tactics can make other people understand fully their actions and the part of others. This will aid them in contributing to the success of a maneuver. Surprise will keep the enemy wondering and can be employed using subtle appearance in urban self-defense, stealth and deception in battlefield, or any daring action which is least expected by the enemy camp. Speed is doing as fast as possible whatever is needed and be ready for the next long before the enemy has time to react on the first. Security considers safety at all times with its rear and flanks to keep the enemy from doing what the combatant wants to do to them. Violence of action will destroy the will of the enemy to fight (Curahee, 2008) The principle of military tactics also cover the main objective, which is a particular aim such as disengagement from an advancing enemy or maintaining movement through protection of advancing troops. Principles also employ various practical tactics that include

Activity Based Costing vs.Traditional Approach (Sober Plc) Essay

Activity Based Costing vs.Traditional Approach (Sober Plc) - Essay Example Financial information forms the basis for much of the decision-making for organizations, and the need for more accurate information continues to grow. Ignorance of the manufacturing realities may put an organization at risk of losing its competitive edge, which inevitably results in loss of profitability and crippling losses. Traditional volume based costing techniques present numerous challenges to organizations, especially in the modern manufacturing environments, where the overhead costs continue to rise. In addition, introduction of new technological advancements in the production processes invalidates traditional cost allocation mechanisms and articulates the need for organizations to switch to new and more market aware costing systems. This paper discusses traditional versus activity based costing with regard to a case on a global motorcycle company currently in a managerial stalemate over the most appropriate costing method. Introduction Traditional costing techniques can be h ighly misleading in their estimation costs of particular products, markets, or organization activities. Traditional approach to allocation of overheads is blind to the factors that drive costs, which are known as cost centres in activity based costing (Luehfing, 2005). ... Background to the Case The senior management staff at Sober Limited engages in a heated ideological standoff because of different viewpoints regarding the appropriate accounting policy for the company. The finance manager proposes adoption of a new costing system, which is activity based costing (ABC), and highlights the fact that the method can prove that the production of one of the company’s primary products, Fireball motorcycle, is no longer profitable, and in fact eats into the company’s profits from other segments. The chairman, critical of activity based costing and favourably predisposed towards traditional costing methodology, expresses his confidence in existing costing methodology, which shows that the production of Fireball is still a viable and profitable option. In addition, the chair claims that the use of activity based costing will only result in unnecessary cost overruns for the company. Analysis of labour hours and ABC in the context of Sober Public L imited Company Sober uses traditional volume based absorption costing to allocate overheads. The company allocates overheads according to the number of labour hours, although sweeping technological changes have put serious credibility as to the relevance of the use of labour hours to allocate costs. The company has had to reduce the size of the workforce due to the introduction of new manufacturing technology. New and more fitting cost drivers than labour hours are now available, and they include deliveries to retailers, set-up costs, and purchase orders. The company seriously considering and questioning the appropriateness of traditional cost allocation methods for overheads in the fundamentally altered manufacturing and market environments. The company sells the motorcycles globally, and the

Predictiveness and the Level of Processing Research Paper - 1

Predictiveness and the Level of Processing - Research Paper Example M, 27 September 2008). Memory does a very important job which is to remember and the same has some vital subdivisions such as attention, encoding, rehearsal and retrieval. It is believed that the durability of the memory depends on the functions of the depth of processing. Going by this statement it is believed that the deeper the functions of various processes which go on in human mind, sharper the memory. "Older adults typically experience two main types of difficulty with their memory; the first is memory for names, and the second is memory for details of occurrences. The difficulty with names sometimes generalizes to infrequently used words and to names of objects, but is most evident in names of people. The second difficulty shows itself in forgetting where a possession was left, in the source of newly acquired information, and in ''telling the same tale (at least!) twice'' (Koriat, Ben-Zur, &Sheffer, 1988). It is extremely important to know about the process of remembering because it is closely related to Predictiveness. In this regards the above information is very handy. "While information-processing models of human memory have been concerned largely with structural aspects of the system, there is a growing tendency for theorists to focus, rather, on the processes involved in learning and remembering." (Craik, Fergus I. M, 27 September 2008). So there is importance given to the process involved in learning and remembering these days, Predictiveness and the process of remembering go hand in hand, the rest of the paper will explain the same with the help of apt examples. Method An experiment will clear all the doubts related to this topic and the result of the experiment will provide an in-depth analysis on how Predictiveness effects the level of Processing. There are 132 students who are participating in an experiment to determine how Predictiveness affects the level of Processing. Of these 132 students no of female students are 82 with the mean age of 19.8, so the mean age goes to show that the experiment is conducted on young students to get the exact results. The experiment showed a Power-point presentation to the students, the presentation consisted of 40 sentences of which 20 were composed of Predictive sentences and the other 20 were Non- predictive sentences. These 40 sentences shown to the students did not have the last word, in other words the last word each sentence was intentionally left blank. The organizers of the experiment probed the students to think of the missing word. After sometime all the forty sentences were shown with the last word f or 2 seconds each. After the experiment the students were asked to take a recognition test and the test consisted of 80 different items. Of these 80 items 20 were Predictive were and 20 were Non- predictive words, the rest 40 were fillers, these fillers were included to get to know the result better. The result of this experiment is on the next page and the ambiguities regarding this topic will be settled after looking at the results. Results The

Reasons for Abolishing the Trade Embargo with Cuba Essay Example for Free

Reasons for Abolishing the Trade Embargo with Cuba Essay Cuban and U.S. relations have been on the rocks for the last 50 odd years. What follows is some background information on what has caused the rift between the two countries. It is a brief history of the American backed Batista that allowed U.S. interests to flourish in Cuba, juxtaposed against the rebel leader Castro that came afterward and the lasting effects that that has had with the relationship between Cuba and the United States and the resulting embargo that sprung from the wake. After the brief history, there is a dissection of the problems and consequences that this embargo has had on the U.S. and policy suggestion to help mitigate and repair relations. Background Cuba became an independent state in 1902. From that time until 1956, with the communist revolution, Cuba has seen countless vies for power through revolution and seen other conflicts as well. For the purposes of this paper, however, focus will remain on Fulgencio Batista, his ties with the U.S.A., and Fidel Castro after that fact. Fulgencio Batista’s rule in Cuba is a sordid one. He was first elected as President of Cuba in 1933. During this period he can be seen in a generally good light, having an efficient government that instituted such legislation as the 1940 Constitution of Cuba. He left to the United States after retiring in 1944, and from that time until 1 952 Cuba descended into corruption. He returned to power from 1952-1959, which was a bloodless coup d’à ©tat, deposing the current President in what was seen as a welcome change. This time around he would be seen as a dictator himself, revoking the Constitution and embezzling large sums of money . The United States backed Batista’s rule, and recognized him as the leader. With regards to the U.S.’s economic interests in Cuba at the time, Kennedy said this: â€Å"In a manner certain to antagonize the Cuban people, we used the influence of our Government to advance the interests of and increase the profits of the private American companies, which dominated the islands economy. At the beginning of 1959 United States companies owned about 40 percent of the Cuban sugar lands almost all the cattle ranches 90 percent of the mines and mineral concessions 80 percent of the utilities and practically all the oil industry and supplied two-thirds of Cubas imports.† This shows how heavily invested in the economy of Cuba the United States were at the time. The sheer amount of American ownership, coupled with the disparity in income between classes in Cuba, goes to show where the feelings of corruption came from, which set the stage for Fidel Castro’s revolution in 1959. Since the American backed former Cuban government had been overthrown with Fidel now in charge, it would stand to reason that the United States didn’t back the new Cuban regime, and with Fidel pushing most of the blame of Cuban problems on United State’s shoulders, he wasn’t too fond of the United States government. He nationalized all of Cuba’s industries, and started implementing a Communist regime in place of the former corrupt Capitalist system. Russia ever looking for an edge on American, during the Cold War, swooped in with aid and support, and in return asked for their allegiance, and to place Russian missile bases on Cuban soil. America not wishing to see Russian military a mere 90 miles away, stepped in to blockade Cuba, resulting in the well known â€Å"Cuban Missile Crisis†. The missile crisis resulted in a trade embargo against the Cuban nation, and more importantly against the Castro administration. This didn’t affect Cuba much at the time, as they were receiving aid from the Soviets, but after the Soviet Union fell in the 1990’s that aid stopped coming. The American embargo stayed, however, resulting in a hole, where goods normally would be, but no longer were coming. Cubans called this period in time â€Å"perà ­odo econà ³mico especial† or the special economic period . As of late, the U.S.A. has loosened the embargo a bit, allowing travel there for people with Cuban family, but Cuba remains the only country that the American government forbids its citizens to visit. Statement of Problem The embargo on Cuba is a relic of the Cold War and it’s time to put it behind us. It’s unpopular among American citizens, and detrimental to Cuban citizens. There’s a huge untapped market for American goods there that could be a nice injection into the American economy. The resulting influx money might seek to raise Cuba’s middle class, and in turn undermine Castro. The lack of a democracy and human rights violations are a valid concern, but it is hypocritical to do business with some communist regimes, and human rights violators, and not others. Russia, China, and Venezuela are all important partners in trade for the United States of America; they are also violating many human rights. We imported $34.6 billion worth of goods from Russia, $310.9 billion from China, and $28.9 billion from Venezuela all in 2011 alone . To name one instance that happened in Russia: â€Å"in June 2011 Baskhanov helped organize a small, peaceful, anti-torture rally in Grozny, the Chechen capital. Police dispersed the demonstration, detained Baskhanov and his colleague, and threatened them with reprisals if they persevered in efforts to hold police accountable.† This represents a blatant disregard of freedom to assemble, which is in the U.S.’s first amendment. China represses the internet for its people, not to mention the atrocities done to the Tibetans. It is arguably the worst modern state in regards to human rights. Venezuela is perhaps the best comparison to the situation in Cuba, however. Hugo Chavez, leader of Venezuela, is a critic of the capitalist system, and an advocate of communism. He nationalized industry similar to Castro. He puts down sedition the same way, and their violations of human rights are much the same, but yet we trade with Venezuela. The only substantive difference is that Hugo Chavez had the fortune of taking power after the fall of the Soviet Union. Since we have already set a precedence of trading with non-democratic governments, we can look to the benefit of opening up trade with Cuba. The United States is in the throes of a recession and should be constantly on the lookout for new markets for their products. A 2009 study found that doing away with all restrictions dealing with the export of agricultural goods would have resulted in a gain of $26-$74 million in dairy products alone . Plus the irony of a capitalist country selling goods to a communist country has to be worth something. Losing the embargo because you trade with other communist nations, and because you can earn lots of money might appeal to the realists out there, but it would look abhorrent to any idealists. Undercutting human rights to make a quick buck can seem pretty sleazy. For those people it is worth noting that the U.N. has voted on ending the embargo for 21 straight years , with the United States and Israel the only naysayers. Policy Recommendation In order to foster trade with Cuba it would be important to repeal all past policies that inhibit the ability for U.S. trade, which would in effect eliminate the embargo all together. To protect American interests in the area, and back at home, we would need to implement new policy that focuses on the protection of U.S. companies seeking trade with Cuba, and a repair of our relations over there. There will need to be mediation from outside sources, perhaps the U.N. could step in, that way both parties would be getting the best of possible outcome. The policies that would need to be repealed, for example, would be the Cuban Democracy Act and the Helms-Burton Act. The Cuban Democracy Act reinforced sanctions brought up from the original embargo, stating that the U.S. would continue the embargo as a way to force the adoption of democratic principles onto Cuba. This obviously hasn’t been working, as Fidel and Raul Castro have been in power since 1959. It comes off as an excuse to retain the embargo on ideological levels in light of almost no support on the global level. Both these acts reinforce the embargo and were signed in the 1990’s. They come off as a power play, in that for trade to resume between the two countries, Cuba would have to concede its current government in favor of a democratically elected one, which is pretty unrealistic as long Castro is alive. To concede the decision to the U.N. would put good faith in global politics, and would influence other countries to do the same with interstate conflicts. It would help mend the negative light that other countries look at us in, and we might be able to leverage putting such a decision in their hands for good faith in other dealings. Especially with such underwhelming support from the global community for the embargo over the past 20 years it would help us appear humble and avoid the warmongering persona many countries see us to have. To continue with the economic discussion, when Cuba nationalized all of its industry throughout the 60’s American business men that had been operating in the area lost all of the capital that they held on the island. These holdings are estimated at a worth of over $6 billion . These holdings are in the hands of American citizens, not necessarily the U.S. government. It would be wise to recoup as much of that as possible, and if the Cuban government has an interest in trading with Americans it is somewhat feasible that a recoupment would be possible, if not for that amount, at least a portion of it. If the Cubans refused that payment pressure from the U.N. could help persuade them to do so. If the U.N. deemed the acquisition of those funds superfluous, it would then be in our best interest to agree. There’s definitely an argument against them owing us that money as we owned the majority of their economy in a corrupt system, also it having happened over 50 years ago (1/5 of the time the U.S.A. has been a country, for a frame of reference). It’s obvious you can’t just change policy like this overnight, as there are some issues that need to be ironed out at levels that aren’t just about economics and trade. We retain four Cuban nationals under charges of spying, and Cuba is holding American Alan Gross. With America’s â€Å"don’t negotiate with terrorists† attitude it’s not surprising we haven’t allowed the trading of prisoners with a country that we have sanctions against but it would be in both countries interest to allow the trade. It comes off as petty to not allow Alan Gross back into the country in exchange for some Cuban nationals. By allowing the exchange of prisoners it would be a show of good faith by both countries. Conclusion Looking at the problem objectively, it can be seen that the embargo has sprung up from the United States worry at a communist regime so close to its own borders, which was justified at the time in the throes of the Cold War and the Cuban Missile Crisis. Although Cuba hasn’t been much a friend in the past, the embargo is an overall detriment for everyone involved and doesn’t even succeed at what it, in theory, sets out to do. It has no support on the national level, and even less support on the global scale. Furthermore it doesn’t make fiscal sense to exclude potential markets whilst in the middle of a recession. A policy that helps foster peace and economic gain for so little loss could easily be implemented benefitting all involved. It’s an anachronism from a time long past, and a hegemonic power such as the U.S. should never foster animosity between countries that are so close to their borders, that is what is the most prevalent danger: having such an enemy not 90 miles away from American coastlines. Works Cited Encyclopà ¦dia Britannica Online. Fulgencio Batista . http://www.britannica.com/EBchecked/topic/56027/Fulgencio-Batista (accessed December 05, 2012). Human Rights Watch. World Report 2011. 2011. http://www.hrw.org/world-report-2011/ (accessed December 5, 2012). Kennedy, John. Remarks of Senator John F. Kennedy at Democratic Dinner, Cincinnati, Ohio (October 6, 1960). Poblete, Jason. U.S. Claims Against Cuba, Buyer Beware. August 4, 2008. http://jasonpoblete.com/2008/08/04/us-claims-against-cuba-buyer-beware/ (accessed December 6, 2012). United Nations General Assembly. November 13, 2012. http://www.un.org/News/Press/docs/2012/ga11311.doc.htm (accessed December 05, 2012). United States Census. U.S. Trade in Goods by Country. 2011. http://www.census.gov/foreign-trade/balance/ (accessed December 05, 2012). Wood, Roberta. Senators confident on votes to lift Cuba travel ban. July 14, 2010. http://www.peoplesworld.org/senators-confident-on-votes-to-lift-cuba-travel-ban/ (accessed December 05, 2012).