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A survey has been conducted on 30 students to measure how much time they spend in the University canteen, between 9 am and 9 pm. There are 30 observations in the data-set, measured in minutes:

a. What type of variable is this? And how should it be defined in the SPSS Variable view?

b. While the chronometer could record minutes and seconds, data were only registered in minutes. Two rounding procedures can be chosen: (a) rounding to the nearest minute (e.g. 10 minutes and 20 seconds = 10 minutes; 10 minutes and 40 seconds=11 minutes); (b) registering only minutes whatever the number of seconds (e.g. 10 minutes and 1 second = 10 minutes, 10 minutes and 59 seconds = 10 minutes). Are the errors generated by rounding through (a) or (b) systematic or random? If systematic errors are generated, are they downward or upward biases?

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This exercise will enable you to analyze business strategies and practice examining the progress a firm is making in executing its strategic plan. Singapore Airlines utilizes excellent strategic management as showcased at the beginning. Instructions Step 1 Go to Singapore Airlines’ website. Find the About Us section, which is usually on the bottom left-hand corner of the home page, and then click on Investor Relations. Step 2 Review Singapore Airlines’ most recent quarterly report or half-year report. Step 3 Examine the change in performance variables and statistics for that most recent quarter or half-year report. Step 4 Based on your observations, what are strategic changes you think were made during that time period? What additional changes in your view are still needed? Do the statistics and numbers reveal any key problem areas? How well do you think the company is faring using the strategic management processes they currently have in place?

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Amy, owner: Welcome! We are excited to have you join the team and help us make our marketing decisions. Sam and I know we can grow our sales. We have options, but need your expertise to make the best choices for our venture. Sam, manager: We have set aside a $1200 budget to cover our marketing expenses over the next couple of months. We’ll have to use this to pay for all marketing expenses including the site permits required to sell the product. Because we are still a new business, that’s all we can allocate at this time. Amy, owner: This summer we have taken the truck to many different local community events. This involves a great deal of driving every day, but sometimes they are not well attended. Should we look at other options?

QUESTION: Which of the four P’s does Amy think they need to change?
Price
Place
Product
Promotion

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Assume that the demand for a product in a store is forecasted below. Suppose that the starting inventory is 140 and make-to-stock method is used. Do the production planning using the level strategy. What will be the total planned inventory in 6 periods?
————————- 1— 2— 3– 4– 5— 6
Period Forecast (Demand) 400 440 320 360 480 238
Select one:
O a. 480
O b. 600
O c. 380
O d. 515
O e. 840
O f. 430
2. A product has an average daily demand of 6000 units. The average waiting time per container of parts (which holds 600 units) is 3 days. The processing time per container is 0.24 day. The company works 8 hour per shift with one 30-minute lunch break. If the policy variable is set at 11.3 percent, how many containers are required? Select one:
O a. 100
O b. 50
O c. 36
O d. 94
O e. 24
O f. 117
3. A company has annual demand of 20000 tons of coal to be used for production. The setup cost for each order of coal is $800 and the inventory holding cost is 2 $/ton-year and company works 300 days each year. Find the total cost of the order, time between orders, and number of orders given each year? Select one:
O a. total cost=8000, time between orders= 60, number of orders = 5
O b. total cost=7200, time between orders= 100, number of orders =3
O c. total cost=4000, time between orders= 75, number of orders = 4
O d. total cost=8000, time between orders= 120, number of orders = 4
O e. total cost=6000, time between orders= 100, number of orders =3
O f. total cost=4000, time between orders= 100, number of orders =3

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