Business Analytics 4th Edition Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann - Solutions

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What will you do to reorder your life to make time for these important but nonurgent tasks? (Examples: schedule time in my appointment book, develop a personal goal statement, make a master list)
Make a list to help you identify important yet nonurgent tasks that you should spend more time on. (Examples: spend more time planning, reading, studying, preparing for class, building relationships with others)
Examine the following messages. Considering the media richness continuum discussed in this chapter, identify a medium that would most suit each message. Give your reasons why. Which medium is least suited for each message? Why????? A complaint about a customer service agent???? A meeting time has
Think of a time when you were dissatisfied with either a service or a product. Draft a complaint letter, focusing on the suggestions for complaint letters mentioned in this chapter. Exchange letters with a classmate and critique each other’s letters.
Rewrite the following messages so that they are more concise:a. We wanted to invite you to our Kids’ Night special this Tuesday night. The kids will have a lot of fun as we will be having face painting, kids’ games, and the kids can color. The kids eat free as well!b. We are sending this mailer
Rewrite each of the following phrases using concrete words:a. Sometime this summerb. A substantial savingc. A large number of people in attendanced. Increase efficiency
Imagine you missed a class due to a family emergency. Write an imaginary email to your professor, informing her of the reason for your absence and requesting makeup work, information on what you missed, and so on. Consider the following: How long should the email be? What might you put for the
Prepare a short toast or no more than three or four sentences for one of the following occasions:???????? A business dinner with clients visiting from Russia.???????? A retirement party for one of your coworkers.???????? A party to celebrate your company reaching a sales goal.???????? A dinner
Select a product that you like and use. Based upon the steps of designing an effective sales presentation presented on pages 348–352, design a sales message imagining that you are selling the product to someone who is similar to you in age, interests, and experiences.Next, select a person who is
Identify the logical fallacy in each of the following arguments:???????? We must raise taxes to finance the construction of new schools in our community.Otherwise, we will have to close the schools because our students won’t be able to pass the state-required tests.???????? Everybody knows you
Based on the suggestions provided on page 344, write a word picture—a vivid, colorful description that appeals to the senses—for one of the following scenes:???????? Your first day on a new job.???????? A difficult situation you faced at work???????? The implication of enduring no health
Imagine a colleague of yours will be delivering a ten-minute report from the national office to twenty branch offices via web camera. The colleagues who will listen to your message will be seated in conference rooms around the country and your image will be projected on large screens. Based on the
Improving Your Speech Delivery Make a video of your speech as you rehearse it. Before presenting your speech to your audience, use the following evaluation form to evaluate your delivery.Delivery Style???????? Did I use an extemporaneous delivery style????????? Did I use appropriate notes, but not
Imagine you are a speech consultant to the chief executive officer of a large paper company.Your boss is about to begin working on her annual “State of the Company” address, which she gives to an audience of about 500 employees, stockholders, and community members. This year, she wants to
Attend or watch on television or YouTube a political campaign speech or a speech broadcast on C-SPAN by a business or professional leader. Pay particular attention to the leader’s delivery. Critique his or her use of gestures, movement, posture, eye contact, facial expression, vocal delivery, and
Select several statistics that you find in a news story. Identify strategies for adapting the statistics for a presentation, such as rounding off the statistics and developing a way to relate the numerical data to something an audience could visualize.
Select a story from the newspaper or a weekly newsmagazine such as Time or Newsweek.Identify the different types of supporting material you find in the article. Evaluate the supporting material you identify as information that could be used in an oral presentation.
Imagine that as you are presenting a sales talk to a group of business persons you begin to notice that your listeners seem to be losing interest in your presentation. Identify several possible strategies that could increase interest in your presentation.
Develop a general and a specific purpose sentence for the following speech topics:???? The history of consumer credit cards in the United States???? Encouraging business investment???? Invest in U.S. savings bonds???? Corporate mergers downsizing???? Slowing sales of houses in the United States????
Generate at least three main ideas from each of the following central ideas. Apply the questions suggested in this chapter: Does the central idea have logical divisions? Can you think of several reasons the central idea is true? Can you support the central idea with a series of steps or a
Attend a public meeting, such as your local school board, city council, or campus council.Using the principles and skills discussed in this chapter, evaluate the meeting using the five principles of leadership discussed in this book. Were group members self-aware and aware of comments and actions
Develop a meeting agenda for an upcoming meeting. Develop a meeting goal or goals, and identify the sequence of agenda items. After you have written your agenda, write a brief explanation of why you structured your agenda as you did. Use the discussion on pages 234–236 as a basis for your
Think of a past group or team meeting that you attended. What was the balance of structure and interaction based upon the discussion of structure and interaction on pages 229–230. If your meeting was out of balance (either too much structure or too much interaction), what specific strategies
Identify a team that you are currently participating in or a team with which you have worked in the past. Identify norms, rules, and any explicit ground rules that were developed for the team. Even if the team did not have an explicit mission statement, as you reflect on the team goals and
Of the roles listed on pages 211–213, which role or roles do you typically assume in groups, teams, and meetings? Identify two task and two social roles you usually do not assume. Why don’t you assume these roles?
Identify the many ways you have communicated using media and technology during the past week. Identify how the presence of anonymity, physical appearance, distance, and time (as discussed on page 207) have had an effect on your virtual communication.
Make a list of the groups and teams of which you are a member. Using the definitions of small group communication and a team from the discussion of the differences between a group and a team on pages 202–204, place your groups and teams on a continuum with those entities that are more like a
With a classmate, invent a hypothetical organization that is currently hiring. Write out an exhaustive list of potential interview questions for a certain position. Then take turns role-playing the interview from each perspective. When you take on the role of interviewer, select questions randomly
For the following scenarios, describe what messages you might use to provide supportive or corrective feedback.a. Carlos joined the team at PemCall, a local customer service calling center, about two weeks after Jenna came on board. Both went through a portion of their training together and
Refer to the list of career-search interview questions in Table 8.1. Which questions would you remove from the list? Based on your particular career aspirations, which questions would you add? Keep a record of these for future reference when doing career-search interviews.
For each description on the following list, identify the interview type. Next, write down a goal for each interview.a. Maria is talking with Marco, an apartment complex manager, about her leasing options, move-in date, deposits, and parking availability before she makes a decision about where to
Get together with a classmate and role-play a career-search interview. As the interviewee, take notes during the interview. Then take a few moments to take notes on your notes.Reflect on the note-taking process: Was it effective? Was your information thorough and accurate? Switch roles and do the
Imagine you are a public relations coordinator for a major pharmaceutical company and you need to interview the supervisor of one division about a new program aimed at helping the company “go green.” How would you prepare for the interview?
Reflect on the ethical responsibilities mentioned in the chapter. Using a real-world example from your own experience, discuss interviewer and interviewee responsibilities in the specific situation.
Work together with a classmate to practice a performance appraisal interview. Assume the employee’s performance has been lacking. Write out several questions and role-play the interview, remembering to listen and respond appropriately. Then switch roles.
Watch an information-gathering interview on a television program, such as AC 360, 60 Minutes, or 20/20. Identify the different types of interview questions used in the interview. Also, discuss the question sequencing. Analyze how effectively the interviewer and the interviewee performed their
Think of someone you admire and would like to interview to gain information about the person’s career path. Write a list of six questions to ask this person, keeping in mind the types of questions discussed in the chapter. Also, pay attention to sequencing. Be prepared to provide justification
Reflect back on your first job interview. In light of what this chapter had to say about the interviewee’s roles, list three things you did incorrectly in that interview, and explain why. Then write down what you would do differently.
Develop your own negotiation strategy for a potential workplace issue. This can be either a current issue in your own workplace or a created issue. Write down how you would communicate each step of the process for negotiating a win-win solution, including the following: separate the people from the
Take a minute and write down everything that comes to mind when you consider the word negotiation. Now, examine the list. Referring to the paradigms discussed in the chapter, what does this say about your own perspective when approaching conflict?Based on what you wrote, what is your paradigm?
When facing a conflict in the workplace, we often begin the conversation by accusing another person. This commonly is done using evaluative “you” language. The first step of the PUGSS model tells us to describe the problem, rather than evaluate. Rephrase each of the following statements from
Review the different types of conflict styles discussed in the chapter and decide what type of conflict style you often use. What makes you think so? What kinds of strategies can you use to be more effective in your conflict conversations? Share your thoughts with a classmate.
Identify the cultural value illustrated in each of the following examples.a. Tomas arrives to work on time every day. He appreciates the structure and organization at his office job. He is a rule follower who feels he can be much more productive when there are clear guidelines for the task and
Take the personality measures from the beginning of this chapter (WTC, CA, ARG).Next, write down a brief description of your own communication style. How do these traits impact your communication at work? What can you do to adapt your communication to those around you?
Role-play with a member of the opposite sex a first conversation or conflict disagreement between dating partners. First, enact the conversation from the perspective of your own sex. Then, enact the conversation again but with the roles reversed. Note any differences that emerge in how the
Examine each of the following statements. Identify which use powerful and which use powerless language. Next rewrite the powerful messages in powerless language, and the powerless messages in powerful language.a. “I wonder, can I possibly get that report this afternoon?”b. “I need you to
As an exercise to help you understand gender-based communication, ask both men and women the following questions and pay particular attention to the major differences.???? What is the basic reason for communicating????? Which of the following statements most accurately reflects your general
Imagine you are training a group of new employees at a customer service firm. How would you teach them to listen actively? Could you explain the skill effectively?
Think back on a difficult conversation you have had. Then think about each of the five stages of listening in the conversation—at what point did you select, attend, understand, remember, and respond to the other person’s message? Did you fail to adequately carry out any of the five stages? If
Think of a time when you felt your message was not understood by the receiver. In particular, have you experienced a situation at work when a supervisor or coworker didn’t understand a concern you had? Discuss what you could have done differently, focusing on the strategies listed in this chapter
Assess your receiver apprehension by completing the following assessment measure.61 Respond to each item by indicating the extent to which it describes you using the following scale: 5 = Strongly agree, 4 = Agree, 3 = Sometimes, 2 = Disagree, 1 = Strongly Disagree ______ 1. When I am listening I
Think of a leader who has been very influential in your life. This can be someone you know personally or a more widely known leader. Now, list some of the verbal and nonverbal communication behaviors this leader uses. What are the messages that are effective? How does this person communicate his or
Start a nonverbal behavior journal, and take some time every week to reflect on the nonverbal communication you use during your daily routine. Jot down some behaviors you use and what they communicate.Now try an experiment: Choose some behaviors that you do regularly, and stop doing them for one
Get together with some friends at a local mall or another public location. Watch the nonverbal behavior of those around you; observe the cultural norms. Take notes and compare yours with those of your friends, identifying any similarities and differences.
In this chapter, you learned that the words you use can enhance or detract from the quality of your relationships. More specifically, using descriptive “I” language rather than evaluative “you” language is helpful to prevent a defensive reaction when addressing a conflict. Think of a
For each of the following terms, provide both a denotative and connotative definition.Word Connotative Meaning Denotative Meaning Justice Foreign Environment Leadership Home War Value Language
Discuss with another classmate one of the three ethical challenges leaders can face.Now, find a real-life example in current events of a leader struggling with an ethical challenge. What would you do if you were that leader? What could he or she have done better?
Reflecting on your current job or a previous job, evaluate the organization in terms of the basic assumptions about leadership that guide the organization. Does your supervisor have a classical approach to leadership? Do you have a boss who consistently uses rewards and punishments? Or is the
Describe in your journal an instance when you had to use style flexing to communicate effectively with someone at work.
Compare your own results on Rating Scale 2.1 with those of a few classmates. Create a skit to demonstrate the styles represented in your group.
Think of a time at work that you or someone you know was faced with an ethical challenge.What do you think you did right? What, if anything, do you wish you had done differently?
What are your best leadership attributes and what leadership skills should you work to enhance? Make a list of your best leadership attributes, as if you were being considered for a leadership role in a business or professional setting. Make a second list of the leadership skills and competencies
Comparing Leadership Styles. Divide the class into several groups. One person in each group should be appointed to lead a group discussion to answer the following question:What should be done to lower the cost of college textbooks? Each group leader should enact a different leadership style. One
Keep a conversation journal for one day. Take note of the times you are aware of a message sent not equaling the message received. Who was normally blamed for the miscommunication?The source? The receiver? Why do you think that is?
4. A recommendation as to whether Oceanview should employ the market research firm, along with the value of the information provided by the market research firm Include the details of your analysis as an appendix to your report.
3. A decision strategy that Oceanview should follow if the market research is conducted
2. A recommendation regarding what Oceanview should do if the market research information is not available
1. A decision tree that shows the logical sequence of the decision problem
25. Exponential Utility Function. Consider a decision maker who is comfortable with an investment decision that has a 50% chance of earning $25,000 and a 50% chance of losing $12,500, but not with any larger investments that have the same relative payoffs.a. Write the equation for the exponential
24. Utility Calculations. Translate the following monetary payoffs into utilities for a decision maker whose utility function is described by an exponential function with R 5 250: 2$200, 2$100, $0, $100, $200, $300, $400, $500.
23. Recommended Decisions for Different Decision Makers. In Problem 22, if P(s1) 5 0.25, P(s2 ) 5 0.50, and P(s3 ) 5 0.25, find a recommended decision for each of the three decision makers. (Note: For the same decision problem, different utilities can lead to different decisions.)
22. Risk Profiles of Decision Makers. Three decision makers have assessed utilities for the following decision problem (payoff in dollars):State of Nature Decision Alternative s1 s2 s3 d1 20 50 220 d2 80 100 2100 The indifference probabilities are as follows:Indifference Probability (p)Payoff
21. Lottery Ticket. In a certain state lottery, a lottery ticket costs $2. In terms of the decision to purchase or not to purchase a lottery ticket, suppose that the following payoff table applies:State of Nature Decision Alternatives Win, s1 Lose, s2 Purchase lottery ticket, d1 300,000 22 Do not
20. Insurance Policy for New Office Building. Alexander Industries is considering purchasing an insurance policy for its new office building in St. Louis, Missouri. The policy has an annual cost of $10,000. If Alexander Industries doesn’t purchase the insurance and minor fire damage occurs, a
19. Investment Alternatives. A firm has three investment alternatives. Payoffs are in thousands of dollars.Economic Conditions Decision Alternative Up, s1 Stable, s2 Down, s3 Investment A, d1 100 25 0 Investment B, d2 75 50 25 Investment C, d3 50 50 50 Probabilities 0.40 0.30 0.30a. Using the
18. Manufacture or Purchase. The Gorman Manufacturing Company must decide whether to manufacture a component part at its Milan, Michigan, plant or purchase the component part from a supplier. The resulting profit is dependent on the demand for the product. The following payoff table shows the
17. Carpool Route. To save on expenses, Rona and Jerry agreed to form a carpool for traveling to and from work. Rona prefers to use the somewhat longer but more consistent Queen City Avenue. Although Jerry prefers the quicker expressway, he agreed with Rona that they should take Queen City Avenue
16. Posterior Probabilities Calculation. Suppose that you are given a decision situation with three possible states of nature: s1, s2, and s3. The prior probabilities are P(s1) 5 0.2, P(s2 ) 5 0.5, and P(s3 ) 5 0.3. With sample information I, P(I | s1) 5 0.1, P(I | s2 ) 5 0.05, and P(I | s3 ) 5
15. Rezoning Property. A real estate investor has the opportunity to purchase land currently zoned as residential. If the county board approves a request to rezone the property as commercial within the next year, the investor will be able to lease the land to a large discount firm that wants to
14. Lake Placid Community Center. The Lake Placid Town Council decided to build a new community center to be used for conventions, concerts, and other public events, but considerable controversy surrounds the appropriate size. Many influential citizens want a large center that would be a showcase
13. Value of Perfect Information. The following profit payoff table was presented in Problem 1:State of Nature Decision Alternative s1 s2 s3 d1 250 100 25 d2 100 100 75 The probabilities for the states of nature are P(s1) 5 0.65, P(s2 ) 5 0.15, and P(s3 ) 5 0.20.a. What is the optimal decision
12. New College Textbook. Embassy Publishing Company received a six-chapter manuscript for a new college textbook. The editor of the college division is familiar with the manuscript and estimated a 0.65 probability that the textbook will be successful. If successful, a profit of $750,000 will be
11. New Office Building Complex. Dante Development Corporation is considering bidding on a contract for a new office building complex. The following figure shows the decision tree prepared by one of Dante’s analysts. At node 1, the company must decide whether to bid on the contract. The cost of
10. R&D Project. Hemmingway, Inc. is considering a $5 million research and development(R&D) project. Profit projections appear promising, but Hemmingway’s president is concerned because the probability that the R&D project will be successful is only 0.50. Furthermore, the president
8. Video Game Profitability. Video Tech is considering marketing one of two new video games for the coming holiday season: Battle Pacific or Space Pirates. Battle Pacific is a unique game and appears to have no competition. Estimated profits (in thousands of dollars) under high, medium, and low
7. Cleveland to Myrtle Beach Air Service. Myrtle Air Express decided to offer direct service from Cleveland to Myrtle Beach. Management must decide between a fullprice service using the company’s new fleet of jet aircraft and a discount service using smaller-capacity commuter planes. It is clear
6. Two States of Nature and Two Decision Alternatives. The following payoff table shows the profit for a decision problem with two states of nature and two decision alternatives:State of Nature Decision Alternative s1 s2 d1 10 1 d2 4 3a. Suppose P(s1) 5 0.2 and P(s2 ) 5 0.8. What is the best
5. Data Warehouse Operation. Hudson Corporation is considering three options for managing its data warehouse: continuing with its own staff, hiring an outside vendor to do the managing, or using a combination of its own staff and an outside vendor. The cost of the operation depends on future
4. Market Segment Investment. Investment advisors estimated the stock market returns for four market segments: computers, financial, manufacturing, and pharmaceuticals.Annual return projections vary depending on whether the general economic conditions are improving, stable, or declining. The
3. Car Leases. Amy Lloyd is interested in leasing a new Honda and has contacted three automobile dealers for pricing information. Each dealer offered Amy a closed-end 36-month lease with no down payment due at the time of signing. Each lease includes a monthly charge and a mileage allowance.
2. Plant Size Decision. Southland Corporation’s decision to produce a new line of recreational products resulted in the need to construct either a small plant or a large plant. The best selection of plant size depends on how the marketplace reacts to the new product line.To conduct an analysis,
1. Two Decision Alternatives and Three States of Nature. The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature:State of Nature Decision Alternative s1 s2 s3 d1 250 100 25 d2 100 100 75a. Construct a decision tree for this
24. Population Center of Gravity. The file USCities contains the city, state, population, longitude, and latitude of 100 cities in the United States. Suppose you wish to locate a single distribution center that efficiently serves the population of these major cities.A quick estimate of a good
23. Constructing a Stock Portfolio. The file StockPrices contains 17 observations of beginning-of-year stock prices for each of nine stocks (each in its own worksheet). The stocks are Amazon, American Express, Cracker Barrel, Disney, Exxon Mobile, JP Morgan Chase, Nike, Procter & Gamble, and
22. Apparel Pricing. A women’s clothing retail chain has collected data on pricing and sales over the last five years at its flagship store in Charleston, SC. These data were used to estimate a regression equation that relates price to demand. The following estimated equation relates demand to
21. Box Office Revenues. The weekly box office revenues (in $ millions) for the summer blockbuster movie discussed in Section 14.5 follow. Use these data in the Bass forecasting model given by equations (14.19)–(14.21) to estimate the parameters p, q, and m.Week Revenues 1 72.39 2 37.93 3 17.58 4
20. Constructing an Efficient Frontier. Refer to Problem 15. Use the model developed there to construct an efficient frontier by varying the maximum allowable variance from 20 to 60 in increments of 5 and solving for the maximum return for each. Plot the efficient frontier and compare it to Figure
19. Semivariance as a Measure of Risk. As discussed in Section 14.4, the Markowitz model uses the variance of the portfolio as the measure of risk. However, variance includes deviations both below and above the mean return. Semivariance includes only deviations below the mean and is considered by
18. Matching the S&P 500 Return. Let us consider again the investment data from Hauck Financial Services used in Section 14.4 to illustrate the Markowitz portfolio model. The data are shown below, along with the return of the S&P 500 Index. Hauck would like to create a portfolio using the funds
17. Portfolio Optimization. Consider the following stock return data:1 2 3 4 5 6 Stock 1 0.300 0.103 0.216 20.046 20.071 0.056 Stock 2 0.225 0.290 0.216 20.272 0.144 0.107 Stock 3 0.149 0.260 0.419 20.078 0.169 20.035 7 8 9 10 11 12 Stock 1 0.038 0.089 0.090 0.083 0.035 0.176 Stock 2 0.321 0.305

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Business Analytics 4th Edition Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann - Solutions

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