Mann Economic Management

In: Business and Management

Submitted By nickfeng
Words 29095
Pages 117


Hypothesis Tests


One-Tailed Test
Two-Tailed Test
Summary and Practical Advice










The Alternative Hypothesis as a
Research Hypothesis
The Null Hypothesis as an
Assumption to Be Challenged
Summary of Forms for Null and
Alternative Hypotheses




One-Tailed Test
Two-Tailed Test
Summary and Practical Advice
Relationship Between Interval
Estimation and Hypothesis


Statistics in Practice




John Morrell & Company, which began in England in
1827, is considered the oldest continuously operating meat manufacturer in the United States. It is a wholly owned and independently managed subsidiary of
Smithfield Foods, Smithfield, Virginia. John Morrell &
Company offers an extensive product line of processed meats and fresh pork to consumers under 13 regional brands including John Morrell, E-Z-Cut, Tobin’s First
Prize, Dinner Bell, Hunter, Kretschmar, Rath, Rodeo,
Shenson, Farmers Hickory Brand, Iowa Quality, and
Peyton’s. Each regional brand enjoys high brand recognition and loyalty among consumers.
Market research at Morrell provides management with up-to-date information on the company’s various products and how the products compare with competing brands of similar products. A recent study compared a
Beef Pot Roast made by Morrell to similar beef products from two major competitors. In the three-product comparison test, a sample of consumers was used to indicate how the products rated in…...

Similar Documents

Mr. Mann

...What are the four functions of management? What do the four functions of management have in common? How do managers at different levels apply the four functions of management? The Four Functions: Planning: Illustrates specific goals and what it will take to accomplish them. This includes listing objectives, working against the elements of time, choosing the approach and resources needed to deliver on point. While this function focuses on the specifics of goals, this gives upper and middle management a chance to establish strategy and instruct workers on how to carry out creating value for the business and customers. Organizing: Builds, connects information and resources to promote maximum success. Any business wants the flexibility to adapt and change to different economic, organizational and customer needs. Leading: The act of motivating subordinates and associates through effective communication. Without close contact, help and inspiration, the guide to achieving goals will be misrepresented. Controlling: Oversee performance and apply changes. Through this action, managers can check to see if the businesses resources are used properly and factors such as quality and safety standards are met. As with any other function of management, control is imperative to any organization because it allows authority to govern all decisions. Commonality Between: The four functions of management share similarities that require actions on one (or a......

Words: 322 - Pages: 2

Fire at Mann Gulch

...rapidly amid lighter fuel that burned quickly, and how the temperature had reached a record high that day. These factors that Dodge was unable to mention clearly mislead the smokejumpers into their fatal end. Dodge’s decision on how to escape was both rational and intuitive in the sense that he took into account all the factors mentioned above, while at the same time, somehow concluding that setting the escape fire could work (a practice he had never heard of before). Instead of explaining the basis for his intuition, he simply yelled to the others “This way!” so his action was seen as one of madness, therefore making it even less likely for the crew to follow him. The main reason that twelve out of fifteen team members perished that day in Mann Gulch was because, organizationally speaking, they were faced with constraints worth mentioning. More specifically, we refer to them as “the system-imposed time constraints” (Robbins and Judge, 2011). Under those dramatic circumstances, the firefighters were forced to make a quick decision without gathering all the needed information they would have liked to collect. Time was critical and every second lost was like getting closer to death so they could only act based on the few options they visualized. Dodge, in the other hand, had a relative advantage, as he was more knowledgeable and possessed more information which he successfully applied to survive the catastrophe. Dodge’s many years of experience, exposure, and......

Words: 1839 - Pages: 8

Global Economic Environment in: Business and Management Global Economic Environment Global Economic Environment Generally, Global Economic Environment Is Influenced by Various Factors Such as Technological, Environment,

...Global Economic Environment In: Business and Management Global Economic Environment Global Economic Environment Generally, global economic environment is influenced by various factors such as technological, environment, political, socio-cultural, and demographic that directly affects businesses. Economic environment refers to the nature of economic systems and policies, distribution of income and wealth, and level of income. Indeed, economic environment has a complex and very dynamic nature; it is continually changing along with the changes in political situations and government policies. Global Economic Environment Mainly, global economic environment is comprised of several components including the economic systems, conditions, policies, legislations, and environment. Indeed, the economic policies being imposed in every business unit are significantly influences by the overall condition of economy. This includes the improvements that occurred in economic conditions such as the purchasing power of the public, standard of living, distribution of income, and supply and demand. Mainly, these factors reflect the size of the market. Another factor reflecting the economic condition is the business cycle, which is critical to every business unit. It refers to the different stages such as prosperity, boom, decline, depression, and recovery. The economic condition of a country can be understood through its national income, per capita income, and distribution of income, demand......

Words: 279 - Pages: 2

Sally Mann Paper

...Photo 1 Professor Johnson 10 May 2011 Sally Mann “It never occurred to me to leave home to make art.”(What Remains) This was just one of the many powerful statements made by Sally Mann as she explains how her fascination with photography began and followed her throughout her life. Sally Mann was born in Lexington, Virginia in 1951. She is still living and photographing there today. Mann has been photographing since the 1970s. She produces portraits, photos of buildings and architecture, and still life photographs. She has also begun to transition into a landscape photographer. She is best known for her photographs of her family, her three children and her husband Larry. Mann is known for her black and white wet collodion photos. Sally Mann is famous for her influential work, although her work has attracted much controversy at times, and “since her the time of her first solo exhibition, at the Corcoran Gallery of Art, Washington D.C., in 1977, she has attracted a wide audience.”(Woodward 29) There was much debate about some of Sally Mann’s work, especially when she published a collection of photographs of her children in 1990 called, “Immediate Family.” Mann’s collection included pictures of her young children topless or at times fully nude. When Mann came out with this body of work there was a outrage among the community about child pornography. Due to poor timing Mann’s work took the brunt of speculation simply because she photographed her children in the nude. Sally......

Words: 1863 - Pages: 8

Economic Context of Management

...          MGSM845 : ECONOMIC CONTEXT OF MANAGEMENT    Essay Term 2, 2013        ‘Sustaining Australia’s rate of economic growth above 3.25%, once the mining sector’s level  of investment spending reduces during the next couple of years, is going to be a major  challenge which will require a focus by the public and private sectors on productivity’.  Discuss this statement, including an analysis of Australia’s GDP growth rate since 2000 and  the drivers of GDP growth in Australia. What are the implications of your outlook on  monetary policy settings?                        Name:          1,500  Student No.:  Word Count:  MGSM845:ECONOMIC CONTEXT OF MANAGEMENT  Term 2, 2013          The Australian resources sector plays a vital role in the Australian economy. The resources  sector  is  the  largest  contributor  to  merchandise  exports,  a  major  contributor  to  GDP,  a  major  employer,  a  major  contributor  to  government  revenue  and  investment.  Other  benefits  such  as  its  contribution  to  rural  and  regional  development  and  technological  development and environmental research are also significant.  Australia  has  experienced  significant  GDP  growth  since  the  early  2000’s,  it  has  effectively  been a two speed economy where the strong mining sector growth has been offset by the  reduction in the manufacturing sector.  Following the global financial crisis in the late 2000’s, the Australian government fiscal policy ...

Words: 1989 - Pages: 8

Practice Paper - Ecs Economics for Business and Management

...ECS1260-65 ECONOMICS (FOR BUSINESS AND) MANAGEMENT 2012-13 Seminar Exercises 13 (to take place in Week 16 starting 11th February 2013) 1) Please say whether the following statements are true or false: a. An economy experiences growth if it produces more goods and services than the year before. (T) (An increase in the production means an increase in the GDP) b. Investment in physical capital means hiring more employees. (F) (Human capital is used for workforce) c. The convergence hypothesis asserts that poor countries grow slower than rich countries, thereby widening the income gap between the two sets of countries. (F) d. Trend output fluctuates around actual output, since it is latter that matters most. (F) (Actual output fluctuates around Trend output due to change in trends) e. Real business cycles assume that cycles reflect fluctuations around output, while political cycles reflect fluctuations around the political establishment. (T) ( f. In the business cycle, recession follows boom, and is followed by slump. (T) g. During recession, business profits increase. (F) Multiple Choice: 2) An increase in living standards generally takes place when: a) GDP grows vigorously over a long period of time. b) GDP declines only moderately. c) GDP is volatile. d) GDP long-term trend is flat. 3) Which of the following is NOT an example of an increased standard of living? a) Lower life expectancy. b) Indoor......

Words: 428 - Pages: 2

“Economics of It Security Management”

...“Economics of IT Security Management” 1) The article questions the loss estimate obtained from CSI/FBI security surveys since they exclude some categories of costs associated with security breaches. It suggests that cost estimate based on the loss in capital markets as a result of a breach in security may be a proxy to estimate true cost of security breaches. a. What do you think about the quality of this cost estimate? Can you think of better ways to capture true cost of security breaches? Although I can see the benefit to utilizing capital market losses as a basis for estimating the true costs of a security breach because it attempts to capture the intangible costs of a breach, there is a great deal of uncertainty in the market and market share may go up or down as much based on the public perception of company’s ability to handle the situation as the damage done by the event itself. Additionally, the marketplace is often affected, in the long term by a multitude of indirect factors that skew the data; the price of fuel, socio-economic instability or new laws/regulations in parts of the world where they have warehouses or production facilities, natural disasters etc. Furthermore capital market changes only capture the effects of those security breaches that are publicly reported. Privately held companies are not subject to many of the laws and regulations that compel larger businesses to self-report and even when companies are required by law, to report......

Words: 2740 - Pages: 11

Horace Mann

...The 1830s and 40s Horace Mann, the End of Free-Market Education, and the Rise of Government Schools During the three decades preceding the Civil War, two significant developments occurred in popular education in the United States.   The first is that the foundations were laid for a governmental takeover of education, and the second is that the historical role of schools in transmitting religious traditions gave way to more secular goals.  The educational reform movement that marked the turning point in United States educational history originated in, and was dominated by, the example of Massachusetts and its political leaders, particularly Horace Mann. Horace Mann was born to a family of farmers in Franklin, Massachusetts, on May 4, 1796.  His lineage included some of the earliest Puritan settlers who practiced a "severe brand of Calvinism."[19]  At the age of twelve, the bookish and introspective Mann rejected Calvinism and focused his attention on educating himself.  He graduated from Brown University in 1819 and, following law school in Connecticut, became a practicing attorney in Boston in 1825. Mann's interest in politics and law and his views and skills as an orator soon catapulted him into the Massachusetts legislature.  It was as president of the State Senate that he became intimately involved in the movement to concentrate control of education in the hands of state. The fight to bring education under the control of government was essentially a fight over the......

Words: 1318 - Pages: 6

The Economic Impact of Tourism on Hotel Management

...ECONOMIC IMPACT OF TOURISM ON HOTEL DEVELOPMENT (A STUDY OF SHERATON HOTEL, IKEJA, LAGOS) A RESEARCH PROJECT SUBMITTED BY ODEODE FAITH EBANEHITA (Matric. No: RUN06-07/925) IN PARTIAL FULFILMENT OF REQUIREMENTS FOR THE AWARD BACHELOR OF SCIENCE (B. SC) DEGREE IN TOURISM MANAGEMENT TO THE DEPARTMENT OF TRANSPORT AND TOURISM STUDIES, COLLEGE OF MANAGEMENT SCIENCES, REDEEMER’S UNIVERSITY, OGUN STATE. MAY 2010 CERTIFICATION I certify that this research project titled ECONOMIC IMPACT OF TOURISM ON HOTEL DEVELOPMENT (A STUDY OF SHERATON HOTEL, IKEJA, LAGOS) .................................................................................................. Was conducted and written by ODEODE FAITH EBANEHITA Run06-07/925 ........................................................ ........................ Name Matric No Under my supervision In partial fulfilment of the requirement for the award of (B. SC) TOURISM MANAGEMENT ............................................................. In the College of Management Sciences Redeemer’s University, Redemption City, Ogun State, Nigeria Mrs. A.O. Idowu Dr. (Mrs.) B.O. Adeleke _______________________ ____________________ Name, Signature and Date ...

Words: 22394 - Pages: 90

Marketing Management. Managerial Economics. Management Information System. Labor Law Management. Aravind 9901366442.Doc ARAVIND 09901366442 – 09902787224 Labour Law Management 1. Define Factory. 2. Define child. 3. Define Lay off. 4. Define Lockout. 5. Define Appropriate Government. 6. What are Penalties and Offences? 7. What is Payment of Gratuity? 8. What is the time limit for payment of bonus? 9. What is Amalgamation? 10. Define weekly hours. 1. What is the object of the apprentices Act? 2. Explain the scope of employer's liability Act, 1938. 3. What are the privileges of a registered trade union? 4. Give the procedure for fixing and devising Minimum wages. 5. State the rules as to employer and employee's contribution 6. What are the rules as to payment and recovery of contribution by an employer? 7. Under what circumstances, an employee can withdraw the amount credited in his provident fund scheme. 8. What are the steps in dissolution? 9. What are the special provisions in payment of bones Act, 1966? 10. What are the provisions of termination of employment under industrial employment act 1946? 1. Define Gratuity and determine the payment of Gratuity. 2. Explain Adjudication of Disputes and claims. 3. Explain the provisions for leave and various types of leave under industrial employment act. 4. Industrial Disputer Act 1947 Discuss elaborately. 5. Explain the procedure for the Employment of young person and women annual bear with wages. MANAGEMENT INFORMATION SYSTEM (a) What is Information system? (b) What is......

Words: 1319 - Pages: 6

Construction Management and Economics

...Construction Management and Economics (May 2004) 22, 347–356 The development of the construction legal system in China LAM YOW THIM and CHEN ZONGGUI School of Civil and Environmental Engineering, Nanyang Technological University, Singapore Received 2 December 2002; accepted 29 May 2003 China has been developing at an amazing speed since it carried out reform and open-door policy in 1978. Construction industry is playing a leading role in the rapid Chinese economic development. At the same time, China has also worked hard to encourage overseas investors to expand their investment in the construction industry. With its development over the years, China has established a legal system for governing construction activities. To participate in such a major market in the world, it is important to understand the legal system governing it and the impact of China’s joining the World Trade Organization. The Chinese construction laws and practice are still very different from the international norm. If foreign participants are to make a success out of doing business in China, they must understand the Chinese way of life. Particularly, they must prepare to adapt to an environment where new rules are created as circumstances and situations change. Keywords: Construction laws, legal system, construction industry, China, foreign investment, foreign designers and contractors, World Trade Organization (WTO) Introduction China has been developing at an amazing speed since it carried......

Words: 6661 - Pages: 27

Construction Management and Economics

...Project management competence in public sector infrastructure organisations PANTALEO MUTAJWAA DANIEL RWELAMILA* Graduate School of Business Leadership, University of South Africa, PO Box 392, UNISA 0003, South Africa Received 3 June 2006; accepted 2 November 2006 Public sector organisations responsible for infrastructure development in most non-industrialised countries, which include infrastructure departments/ministries, parastatal organisations and other statutory organisations qualify as project-oriented organisations (POO). There are strong indications to suggest that these organisations’ project management (PM) competencies leave a lot to be desired. At face value they purport to be fully fledged project-oriented organisations and performing as competent PM organisations, while in reality they are predominantly dependent on accidental project managers. This paper reports on a study that was carried out in one of the large infrastructure departments in South Africa. The focus is on one of the premiere programmes managed by the department. The management of the programme is scrutinised in order to establish the department/ministry’s PM competence. An evaluation of the performance of the programme was carried out in relation to the ministry’s mandate in order to assess its PM competence. It is found that the programme in its current form could be described as a ‘white elephant’ and a programme that does not have an appropriate organisation structure, nor......

Words: 1236 - Pages: 5

Thomas Manns Influences

...Works Thomas Mann once said “Every reasonable human being should be a moderate Socialist.” This quote is the cumulative result of a life time of influences from the writers and culture that surrounded Mann. During the spread of eighty years, Mann was exposed to many influential writers: Friedrich Nietzsche, Arthur Schopenhauer, Richard Wagner, and Hermann Bahr. Aside from the writers that Mann was influenced by, Mann was influenced by the German culture that surrounded him growing up in Lübeck, Germany. Researching Mann and finding sources that were critical of Mann was difficult, especially when it came to finding print sources. This is perhaps due to Mann's life being rather unimportant when compared to how influential and philosophical his works are. His works have so much depth and hiding meaning and cause contained within their covers that critics would much rather criticize his works than Mann himself. Another reason quite possibly be, that to criticize Mann's work a critic does not have to know Mann's background because of how well and precise Mann conveys and illustrates the ideals and philosophies of those who influenced him while writing. Nietzsche, influences nearly all of Mann's short stories and novels, whether it be that Mann quoted him or built antitheses off Nietzsche ideals or even based an essay completely off of a writing of Nietzsche. Mann has been accounted stating that he was undoubtedly a Nietzschean (Robertson 27). This being, Mann wrote in his “A...

Words: 2034 - Pages: 9


...Firm Resources and Sustained Competitive Advantage Barney, Jay Journal of Management; Mar 1991; 17, 1; ProQuest Central pg. 99 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited......

Words: 284 - Pages: 2

Economics and Management

...Hao Long 2339 Willowbrook Drive Apt. 301 West Lafayette, IN 47906 (765) 418-3466 [pic] Profile • Seeking an internship in Human Resource specific interest in compensation, data analysis and labor economics. • Interdisciplinary knowledgeable about human resource management, economics and statistics. • Positive team player with proven abilities in critically thinking, data analysis and project management. • Fluent in spoken English, Mandarin and Cantonese languages EDUCATION Krannert School of Management, Purdue University Aug. 2011 – May 2013 Master of Science in Human Resources Management The MSHRM is a two-year management degree with the strongest business core among graduate HR programs. It incorporates 25 hours of coursework from Krannert's MBA core curriculum. Renmin University of China – Beijing, China Sep. 2007 – Jun. 2011 Bachelor in Economics GPA: 3.36 PROFESSIONAL EXPERIENCE Mercer Consulting Co., Ltd. Beijing Branch – Beijing, China Aug. 2010 – Nov. 2010 Human Capital Department Intern Participated in compensation design projects, including Audi Group; took charge of data check and analysis of 27 dealers in 3 regions. Joined in assessment......

Words: 365 - Pages: 2