This assignment has two cases. The first case is on expansion strategy. Managers constantly have to make decisions under uncertainty. This assignment gives students an opportunity to use the mean and standard deviation of probability distributions to make a decision on expansion strategy. The second case is on determining at which point a manager should re-order a printer so he or she doesn’t run out-of-stock. The second case uses normal distribution. The first case demonstrates application of statistics in finance and the second case demonstrates application of statistics in operations management.

Assignment Steps

Resources: Microsoft Excel®, Bell Computer Company Forecasts data set, Case Study Scenarios

Write a 1,050-word report based on the Bell Computer Company Forecasts data set and Case Study Scenarios.

Include answers to the following:

Case 1: Bell Computer Company

• Compute the expected value for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of maximizing the expected profit?
• Compute the variation for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of minimizing the risk or uncertainty?

Case 2: Kyle Bits and Bytes

• What should be the re-order point? How many HP laser printers should he have in stock when he re-orders from the manufacturer?Resources
• • Expansion Strategy and Establishing a Re-Order Point Grading Guide

The Vice President of HR is tasked with overseeing the hiring of all new staff. She has noticed a disturbing trend recently. Employees who are younger and have only worked for a few companies are less satisfied with their work. She thinks this could be because they fear they are missing out on other opportunities.

However, she wants to know if there is data to support this. Therefore, she needs to know if there is a difference in job satisfaction between employees who have worked for more than 4 companies and employees who have worked for 4 or less companies.

Use the dummy database to answer the following questions:

1. What is the mean job satisfaction for employees who have worked for more than 4 companies?

2. What is the mean job satisfaction for employees than have worked for 4 or less companies?

3. What is the t-statistic for the difference of those means?

4. What is the p-value for that t-statistic

Group of answer choices:

• <.05 and >.01
• >.05
• <.01 and >.001
• <.001

5. Is the difference in job satisfaction between employees who have worked for more than 4 companies and employees who have worked for 4 or less companies significant?

Group of answer choices:

• Yes, the p-value <.05
• Yes, the p-value <.01
• No
• Yes, the p-value <.001

1. The practice this week is about whether the relationship between two variables is significant.

Sydney is an HR rep who sits in on the promotion decisions for the company. She is concerned because it seems that people are getting salary hikes because their managers like them, not because they deserve it. She wants to know if there is a significant relationship between PercentSalaryHike and Years with Current Manager.

What is the correlation between PercentSalaryHike and Years with Current Manager (round to 2 decimal points ex. 1.22)?

2. Is the correlation between PercentSalaryHike and Years with Current Manager significant?

a. Yes, the p-value <.001

b. Yes, the p-value <.01

c. Yes, the p-value <.05

d. No

3. What can Sydney conclude from the data?

a. There is not evidence that the number of years someone is with their manager does not predict their salary hike.

b. Managers do not give salary hikes to employees they like more

c. Managers do give salary hikes to employees they like more

d. There is evidence that the number of years someone is with their manager does not predict their salary hike.

Answer questions #1-8. Show work.

1) Use the formula for Permutations, nPr = n! (n−r)! to find the value for each expression. Confirm each result by using your calculator. a) 8P3 b) 4P4 c) 5P3 d) 5P0

2) How many 4 letter permutations can be formed from the letters in word rhombus?

3) For a board of directors composed of eight people, in how many ways can a president, vice president, and treasurer be selected?

4) How many different ID cards can be made if there are six digits on a card and no digit can be used more than once?

5) In how many ways can seven different types of laundry soap be displayed on a shelf in a store?

6) A child has four different stickers that can be placed on a model car in a vertical stack. In how many ways can this be done if each sticker is to be used only one time?

7) An inspector must select three tests to perform in a certain order on a manufactured part. He has a choice of seven tests. How many different ways can he perform three tests?

8) In how many different ways can 4 raffle tickets be selected from 50 tickets if each ticket wins a different prize?

Please address each bullet point under both of these topics in a thoughtful 1-2 paragraph response.

Strategy:

• Have you figured out a study strategy that works well for you? For example, do you have a fixed time each day or certain days of the week dedicated to your studies?
• Do you find the eText or the videos more useful for helping you learn? Have you used other resources that you would like to share with your classmates?

• Describe how you use ALEKS. Do you jump right into solving problems, using the text and videos only when you get stuck, or do you read and watch videos BEFOREstarting the problems?

Mastering Content:

• Which concepts or problems have you found to be the most challenging so far? What did you do to overcome this challenge? What do you still have questions about?
• After working through the problems in ALEKS, do you feel confident in your abilities to solve problems?
• Are you “comfortable being uncomfortable” with new material? This means you have a growth mindset and are open to new learning, even if it means being confused for a while and making some mistakes at first. If learning math makes you uncomfortable, what can you tell yourself so you feel more confident?