Submitted By RetiredNavyChief

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Words 1144

Pages 5

STUDENT: RICHARD CONGLETON

ECO 550

MANAGERIAL ECONOMICS AND GLOBALIZATION

ASSIGNMENT 1

DR. RAFAEL AMIEL

25 OCTOBER 2012

Making Decisions Based on Demand and Forecasting

Independent and Demographic Variables

The goal of this study is to conduct a pizza demand analysis to determine the viability of opening a Domino’s Pizza outlet in Philadelphia, Pennsylvania in the area of zip code 19107.

The proposed demand function contains five independent variables as follows:

Qd = f(Pz, Pb, Pc, I, N) where

Qd is quantity demanded. This is the dependent variable we will have to estimate.

Pz is the price of pizza. This is the most important variable in determining the quantity demanded of pizza. By the law of demand, we expect it to have a negative relationship with Qd.

Pb is the price of burgers, which are a substitute good to pizza. It is an important part of the equation, because as prices change, people tend to shift consumption to the relatively cheaper substitute good.

Pc is the price of soda. As a close complement to pizza, a difference in the price of soda is likely to have an effect on the consumption of pizzas.

I is the income level, as measured by annual salary. It measures the ability of consumers to afford pizza. Annual income data is taken from Bureau of Labor Statistics.

N is the population size. Its importance for demand is clear as a higher population means a higher potential customer base. Data is taken from the US Census Bureau.

For our particular zip code area of interest, Pz is $8, Pb is $6, Pc is $2, I is 25,000 and N is 12,122.

Regression Analysis

To construct a credible regression analysis based on the formula previously mentioned, we need a good number of observations. Using the proposed demand function, data is assembled for the independent variables for each of the 67 counties in Pennsylvania. This…...

...Nobody But Myself An independent person is someone who supports him or herself and is forced to accomplish his or her own responsibilities unaided. A person who is dependent is better known for constantly relying on others for help. Always depending on others causes an individual to lack self-reliance and self-sufficiency. I can shamefully admit that, as a child, I was extremely dependent on everyone around me for everything I did. I was most dependent on my family, including my mom, dad, sister, and cousins. From age ten to twelve I became extremely needy that I started to develop severe laziness. I was so lazy that one day I had asked my cousin to make me a peanut butter and jelly sandwich, to which she replied no and demanded I make it myself. The only response my sluggish mind could utter was, “But I do not know how to make a peanut butter and jelly sandwich,” which was an absolute lie. It was as if I began to view my family as my servants. Rarely would I do anything for myself. All I had to say was “I want this” and it would become mine. I was given money, clothes, toys, and food whenever I wanted. I developed into an incompetent child. When I turned thirteen years old, my parents started to act stricter and enforced more rules. This was a turning point in my life because I finally understood that I could not be successful in life by relying on anyone else but myself. From that moment on, I focused all my energy on transforming myself into an independent individual.......

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...whose action is specified on variables. Take x and y to be two variables. A function f may map x to some expression in x. Assigning gives a relation between y and x. If there is some relation specifying y in terms of x, then y is known as a dependent variable (and x is an independent variable). Statistics In a statistics experiment, the dependent variable is the event studied and expected to change whenever the independent variable is altered.[1] Modelling In mathematical modelling, the dependent variable is studied to see if and how much it varies as the independent variables vary. In the simple stochastic linear model the term is the i th value of the dependent variable and is i th value of the independent variable. The term is known as the "error" and contains the variability of the dependent variable not explained by the independent variable. With multiple independent variables, the expression is: , where n is the number of independent variables. Simulation In simulation, the dependent variable is changed in response to changes in the independent variables. Statistics Synonyms Independent variable An independent variable is also known as a "predictor variable", "regressor", "controlled variable", "manipulated variable", "explanatory variable", "exposure variable" (see reliability theory), "risk factor" (see medical statistics), "feature" (in machine learning and pattern recognition) or an "input variable."[2][3] "Explanatory variable" is preferred by......

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...Variable Independiente Una variable independiente es la variable de la que podemos tener el control, podemos escoger manipularla, y usualmente es lo que uno piensa que puede afectar a la variable dependiente, en algunos casos, no es posible para la persona manipularla, Puede que sea algo que ya esté completamente “arreglado”, algo que se puede evaluar acerca de cómo afecta a otras cosas como la variable dependiente ya sea por ejemplo color, tipo y tiempo. Etc. Ejemplo: Una persona está interesada en como el estrés afecta el corazón y sus latido en los humanos. La variable independiente sería el estrés, y la variable dependiente sería los latidos del corazón, se puede deducir directamente los niveles de estrés en los humanos y el efecto de los niveles de estrés en el cambio de la calidad del corazón. En la verificación experimental, el investigador intenta reproducir artificialmente los fenómenos que se dan de forma espontánea en la realidad y que desea comprender; cuando dispone de una hipótesis que establece un supuesto vínculo causal entre un objeto, proceso o característica (supuesta causa) y el objeto proceso o característica que exige una explicación (el efecto), manipula experimentalmente la primera para ver si se produce el efecto que la hipótesis describía. La variable que manipula el experimentador recibe el nombre de variable independiente. El objeto, proceso o característica a estudiar y que modifica su estado con la modificación de la variable independiente (es...

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...VARIABLE Trochim (2006) defined a variable as an object, event, idea, feeling, time period, or any other type of category you are trying to measure. On the other hand, Moore and George (1993) defined a variable as any characteristic of a person or thing that can be expressed as a number whilst Frank, Little and miller (200) defined a variable as any factor that can change in an experiment. Anything that can vary can be considered a variable. For instance, age can be considered a variable because age can take different values for different people or for the same person at different times. A value of the variable is the actual number that describes a particular person or thing (Moore and George, 1993). For example, Height and sex are variables that describe people. Moore and George (1993) continue to say that there are two types of variables and these are quantitative variables and categorical variables. A quantitative variable takes numerical values for which arithmetic operations such as differences and averages make sense. A categorical variable simply records into which of several categories a person or thing falls. Variables measured as numbers in a scale of equal units, such as height in centimeters are quantitative variables. Examples of categorical variables include sex and age. INDEPENDENT VARIABLE An independent variable is exactly what it sounds like. Moore and George (1993) defined independent variables as explanatory variables. On the other hand,......

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...Topic # 3: Random Variables & Processes & Noise T1. B.P. Lathi, Modern Digital and Analog Communication Systems, 3rd Edition, Oxford University Press, 1998: OR 4th Edition 2010 Chapter 8, 9 & 12 T2. Simon Haykin & Michael Moher: Communication Systems; John Wiely, 4th Edition OR 5th Edition, 2010, 5/e. : Chapter 5 R1.DIGITAL COMMUNICATIONS Fundamentals and Applications: ERNARD SKLAR and Pabitra Kumar Ray; Pearson Education 2009, 2/e. : ( Section 5.5) August 11- 18, 2014 1 What is Noise ? Desired Signal : The one that is needed. Effect of Noise : Since the noise adds to the signal, it lives with it. Neither amplification nor the filtering can alleviate the effect of noise on the desired signal. Undesired Signal : The one that gets added to the desired signal when the desired signal is passing through the medium, amplifiers, mixers, filters and other parts of the communication channel between the source and the destination. Noise : The undesired signal that adds to the desired signal and reaches the destination. The only way to keep away from the effects of noise is to see that less amount of noise, relative to the desired signal, is present at the destination Interference: Intentional or unintentional un desired signals that interfere with communication process. 2 ELECTRICAL ELECTRONICS COMMUNICATION INSTRUMENTATION Noise Sources Externally Generated Internally Generated Thermal noise : Random Motion of electrons due to temperature in...

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...Two Variable Inequalities This week we are challenged to complete 3 steps for the problem 46 located on 240 of our textbook. The steps to completing this assignment are as follows: Assign a variable to each type of rocker that the Ozark Furniture Company makes, write a linear inequality which incorporates the given information of the total board feet and feet required for each type of rocker they make, and draw a graph on paper of the inequality to aid in the writing of the paper. Problem number 46 on page 240 of Elementary and Intermediate Algebra is as follows: “The Ozark Furniture Company can obtain at most 3000 board feet of maple lumber for making its classic and modern maple rocking chairs. A classic maple rocker requires 15 board feet of maple, and a modern rocker requires 12 feet of maple. Write an inequality that limits the possible number of maple rockers of each type that can be made, and graph the inequality in the first quadrant”(Dugopolski,2012). c=classic maple rocker m= modern maple rocker The classic maple rocker, or c, requires 15 board feet of maple so I will use 15c to illustrate. The modern maple rocker, or m, requires 12 board feet of maple so I will illustrate with 12m. The total number of lumber required or obtained to complete both of the modern and classic rockers totals 3000 board feet of maple. The inequality shown: 15c+12m≤3000 In order to graph the equation I will use the following intercepts. The horizontal intercept I will......

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...correlation between two variables. The following paper will go in to more depth on what was discussed and what we learned as a team as well as individuals. The team also was able to go over the Mystat lab that we were assigned in the individual assignment. In step one a team would state a null hypothesis as well as an alternate hypothesis. The null hypothesis is used only for testing. We either reject or fail to reject the null hypothesis. The alternate hypothesis is accepted if sample data provide enough evidence that the null hypothesis is false. No matter what the problem looks like the null hypothesis will always contain the equal sign. This is true because since the null hypothesis is being tested there is a need for a specific value to be seen in the calculations. When comparing the means of two or more groups the team must state the null hypothesis. Random samples of each population must be chosen to show the formula in a working status. To get a more accurate sample a higher number of the populations should be used. An independent sample T-test is used to compare the means of two or more groups. Pooled variance can be used if the variances of the two populations being tested are constant. The correlation between two variables describes the likelihood that a change in one variable will cause a proportional change in the other variable. A high correlation between two variables suggests they share a common cause or a change in one of the variables is......

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...Virtual Lab: Dependent and Independent Variables Worksheet 1. ECB refers to: a. A genetically engineered plant that is resistant to insect pests b. Edible corn byproducts c. An insect pest that reduces corn yield d. European corn borer e. c and d 2. How many days are required for a corn seed to become a mature plant with maximum weight kernels ready to be harvested? e. about 23 f. about 65 c. about 140 d. about 180 3. “BT Corn” refers to corn that: a. Has been infested with insect pests b. Has been infected with bacteria c. Is resistant to ECB d. Is not affected by pesticides 4. BT is: a. A stomach poison produced by bacteria b. A genetically engineered corn product c. A bacterium carried by the European corn borer d. A bacterium that has a gene for producing Cry proteins 5. Creation of BT corn requires genetic material from all of the following except: a. European corn borer b. Bacillus thuringiensis c. a corn plant d. all of the above contribute genetic material to the production of BT corn Table 1: Average Yield for each seed variety at no, low, and high infestation levels Seed Variety | Level of ECB Infestation | Pot 1 Yield | Pot 2Yield | Pot 3Yield | Average Yield | BT 123 | None | 160.1 | 164.8 | 164.2 | 163 | | Low | 164.0 | 162.6 | 168.3 |......

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...difference is a matter of timing. From what I am understanding variable and absorption are two different costing methods. Practically all successful companies in the world use both the methods. Variable costing and absorption costing cannot be substituted for one another because both the systems have their own benefits and limitations. These costing approaches are known by various names. For example, variable costing is also known as direct costing or marginal costing and absorption costing is also known as full costing or traditional costing (2015). From my understanding the variable costing method is mostly used by internal management for decision making purposes. Absorption costing provides information that is used by internal management as well as by external parties like creditors, government agencies and auditors etc. (2015). When making strategic managerial decisions I would chose to use variable costing. One reason is because, variable costing does not take into account fixed or absorption costs; therefore profits are likely to increase by the amount earned through the sale of the additional item. Variable costing is referred to as direct costing, whereas absorption costing is known as full costing and allocates all manufacturing costs to products (Schneider, 2012). Schneider (2012) defines “variable costing as an approach to product costing that assigns only variable manufacturing costs to items produced” (Schneider, 2012).......

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...Dependent and Independent Variables The two articles that I did my research on to identify methodologies and dependent and independent variables are Other mothering as a Framework for Understanding African American Students’ definition of Student-Centered Faculty and A Qualitative Study Exploring Mothers’ Perception of Child Neglect. Both articles use the ethnography participant observation and nonparticipant observation methodologies when summarizing these articles. The first article illustrates through observation and research that it indicates that faculty/student relationship affect student satisfaction with college. The dependent variable is the relationship students have with faculty and the independent variable is the satisfaction that African Americans are satisfied with the school which could affect participation in school ultimately determining what types of grades that are achieved. This qualitative definitively illustrates how social setting plays a part in the dependent and independent variables because the research article concludes” that black students attending predominately white institutions had less contact with faculty outside the classroom and were less academically integrated into campus life than were white students”. Nettles (1991). Additionally, Fleming (1984) her examining the experience of black students at PWIs and at Historically Black Colleges and Universities and Arnold (1993) “in a study investigating the college experience of high school......

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...Types of Variables, Conceptual and Operational Definition A variable is a concept – noun which stands for variation within a class or objects (Ariola, 2006; Catane, 2000). Variable refers to characteristic [condition or attributes] that has two or more equally exclusive values or properties (Sevilla and Others, 1988 as cited in Ardales, 1992). Ariola (2006) states that variables can be manipulated, selected, controlled and observed by the researcher or experimenter (p. 121). Therefore variables can “vary”; it is a tool in measuring the values and determination of quantity of datum for the conducted research. According to Calmorin et al. (2007) a variable is defined as a quantity susceptible of fluctuation or change in value or in magnitude under different conditions (p. 14). The term variable has the correspondent term variation, which means difference and relationship per se. In mathematics, variables are use for graphing, problem solving, statistical computations, algebraic expression, and various kinds of equations, different functions, relations and measurement to analyze and interpret certain data. It is the same with social research but those attributes apply and take different form, thus they can belong to different levels of measurement ("Variable and attribute," 2011). Variables operated or utilized as a tool of measurement is for throughput which leads to conclusion of the study. Based on Ariola (2006) the variable classified into two such as: The......

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...Variables in Research In research, variables are any factors in the experiment at hand, whether they are the factors being measured, the factors being changed by the researcher, or the factors which are kept constant in order to ensure consistency in at least one area of the study, which leads to increased reliability of the study (Shermerhorn 2014). These variables which are kept constant throughout the experiment are arguably the most important, but how can something which is never changed make such an impact to the results of any research. The importance of these unchanged factors, or constant variables, stems from their ability to isolate the independent variable, or the variable which is intentionally changed by the researcher. An example of this would be in the very simple experiment of measuring the bounce of a ball when dropped from different heights. The measured variable in this experiment is the height of the bounce of the ball, the experimenter is interested to see the effect on the rebound height, due to changing the drop height. In this example, the must obvious factor in the experiment which needs to be maintained is the type of ball, if this variable were to be changed, all previous data gathered will become irrelevant, as the results would all be in reference to a different ball, whose rebound heights have no connection to that of the new ball. Therefore, it is plain to see how useful control variables can be when used properly to isolate the variable which...

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...Douglas Ganim Independent Study Dr. Mohan March 30, 2016 Budget Storage: Profit Maximization Case Study This past weekend, over the Easter holiday, I had the chance to sit down with the General Manager of Budget Storage, Mr. Bret Day, to discuss the unit rate data I had collected, including average occupancy rates. I was excited to share this data because I felt it confirmed that Budget Storage’s pricing was in-line with the key competitor facilities in the area. Of course, I felt this was a critical piece of information. After I was done with my presentation the manager looked over at me and said “Look, I have been doing this for 25 years. I am intimately aware of the storage rates throughout Central Ohio and especially on the east side of town where we are located. I already know our rates our competitive. Since you are a college student in your senior year, I was hoping your case project could answer one simple question for me. How can we make more profit out of this place each month, each quarter, and each year? That is all I really care about!” Mr. Day exclaimed. I walked out of the meeting and realized that Mr. Day was right. What good is data analysis if it does not tie in to a real strategy to yield the highest possible absolute profit? As I pondered this question it immediately led me back to the most important financial document of all, the Income Statement. With a new purpose I quickly realized that there are really only three ways...

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...VARIABLES Variables • anything that can take any value • conditions which you manipulate or vary Types of Variables A. Based on Cause and Effect 1. Independent/Manipulated • the “cause”; factor that is being tested or manipulated (can be controlled); the cause/condition that you provide for. 2. Dependent/Responding • the “effect” or “observed”; the response to the manipulated factor; factors that are there inherently and are not changed/manipulated. 3. Extraneous/Constant • all other variables other than the Independent Variable and the Dependent Variable that are kept constant in the experiment. example Problem: The Effect of Classical and Rock Music on the Growth of 45-Day Chicken IV: -Types of music, classical and rock music DV: -Growth in terms of mass of chicken EV: -age and mass of chicken at the start of the experiment -number of chicken per cage/treatment -environmental conditions -amount of feeds given -frequency of feeding -amount of water given, etc. B. Based on the value taken by the variable 1. Continuous Variable - with fractional values (as in ratio and interval); has values in between whole numbers - examples: mass of chicken, age of chickens, temperatures, pH, etc. 2. Discrete/Discontinuous Variable - assume exact values; fixed (as in nominal and ordinal) - examples: number of chickens, number of types of feeds used, number of cages,......

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...Independent variables are variable that stand alone and are not changed by the other variables that are being measured. Independent variables are used to predict a response or result (Fink, 2002). Dependent variables could change depending on the results. The writer’s objective is to measure teachers’ perception of the principal’s role in technology implementation. This objective is a descriptive objective because the writer is measuring the teachers’ perceptions of the principal’s role in implementing technology. The dependent variable is the teachers’ perception of the principal’s role in technology implementation. The type of data for the dependent variable is nominal. The survey requires teachers to list what type of technology they use in the classroom and list how the principal implements technology. The objective compares teachers’ perception of the principal’s role in implementing technology. To analyze the results the writer will analyze frequencies. Reference Fink, A. (2002). The survey handbook. (Vol. 1). In A. Fink (Ed.), The Survey Kit (2nd ed). Thousand Oaks, CA: Sage Publications. Ok Tracy. First, this is simply a descriptive objective as you simply want to measure teachers' perceptions of the principal's role. So there is only one variable, what is it? How will you be measuring this variable? With the answer to Question 20 on your survey? If so, then you are correct that this would be nominal data (though I think this would be a stronger question...

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