Cybersecurity

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Lake Point Consulting Services

Lake Point Consulting Services (LPCS) provides security consulting and assurance services to over 500 clients across a wide range of enterprises in more than 20 states. A new initiative at LPCS is for each of its seven regional offices to provide internships to students who are in their final year of the security degree program at the local college.

National Meteorological Services (NMS) offers in-depth weather forecasting services to airlines, trucking firms, event planners, and other organizations that need the latest and most accurate weather forecasting services. NMS has discovered that their forecast information, which was being sent out as email attachments to its customers, was being freely distributed without NMS’s permission, and in some instances, was being resold by their competitors.NMS wants to look into encrypting these weather forecast documents, but is concerned that its customers may find decrypting the documents cumbersome. The company also wants to provide to their customers a level of assurance that these documents originate from NMS and have not been tampered with. NMS has asked LPSC to make a presentation about different solutions, and BPSC has asked you to help them prepare it.

  1. Write a paper about encryption and the different types of encryption. Include the advantages and disadvantages of each.
  2. Include your recommendation regarding meeting their needs for encryption, and
  3. Create a memo communicating the actions you believe would be best for the company to take.

Freshman Skills

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Diversity Project Guidelines 

The World is fast becoming a “Global Village”. As students preparing to work in this diverse and competitive environment, it is important that you understand and appreciate diversity. This assignment will give you the opportunity to explore different cultures, make connections between your culture and other students’ cultures. 

What to do: 

Create a PowerPoint presentation to discuss the culture of any country of your choice.

Things that could be incorporated into the presentation 

– Maps showing geographical locations of your country

– Brief Historical facts, population, climate and language

– System of government, education and economy

–  Flags and their symbolisms 

–  Currencies and their values

–  Literature and music pertaining to your culture, Sports and musical instrument

–  Samples of cuisine and apparel 

–  Holidays observed and their significance

– Customs and traditions (e.g. marriage, religion, family values)

– State at least, two major contributions made to society by individuals from the country researched

• Contribution could be in any area —e.g. sports, music, invention, art, human rights, production etc.—

The website below is a good place to start your research. You could use other sources as well. Cite all sources used. 

Https: //www.cia.gov/library/publications/the-world-factbook/geos/aa.html

11 slides only

Discussion for Paley’s “A Conversation with My Father”

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Discussion for Paley’s “A Conversation with My Father”

Although Grace Paley has done much work for the feminist political movement, as a writer, she is best known for her use of a postmodernist literary technique of “metafiction.” Metafiction is the writing of stories that are about the art of writing stories. However, unlike other practitioners of metafiction who get caught up in the aesthetics of this technique, Paley uses this technique to discuss social and metaphysical issues that confront all of us. The issue that “A Conversation with My Father” explores is the nature of human freedom: Is human freedom an illusion in which we all believe much like how we believe the illusions offered to us by fictional stories? Can we construct our lives in the same way that an author can construct a character or a story?

1. Is human freedom an illusion in which we all believe much like how we believe the illusions offered to us by fictional stories? How does the narrator answer this question? (1 passage) How does the father answer this question? (1 passage)

2. Can we construct our lives in the same way that an author can construct a character or a story? How does the narrator answer this question? (1 passage) How does the father answer this question? (1 passage)

https://bucket-hozzify.storage.googleapis.com/wp-content/uploads/2021/02/08211149/Robert-S.-Levine_-Michael-A.-Elliott_-Sandra-M.-Gustafson_-Amy-Hungerford_-Mary-Loeffelholz-The-Norton-Anthology-of-American-Literature-Volumes-C-D-E-W.-W.-Norton-Company-2016.pdf 

700 words min due by 24 hrs(sophia gold)

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 Instructions: Read the following essay and write a Classical Argument concerning your opinion on spanking children.  Your essay should be 2-3  pages (700 words min) and should have an appropriate structure: clear thesis (your opinion on the topic), specific arguments, opposing views & refutations, and conclusion.
You will probably want to provide a specific definition of what spanking is/isn�t; indicate who should/shouldn�t administer the spankings; detail the circumstances under which spanking is/isn�t appropriate; and designate any age considerations or legal considerations which you feel are appropriate.
You can make reference to opinions in the essay; however, the essay should also include significant elements of your own analyses, examples, and opinions.  The more of your own opinions, examples, experiences, ideas, the better.
Essays will be graded primarily on the on the content and professionalism of your writing (depth, logic, structure), as well as presentation (grammar, syntax, punctuation).
Your essay does not have to be in precise MLA format, however, you should note the article when you take ideas directly from the essay and put direct quotes from the essay in quote marks.  For example,  it would be enough to just write:
The article states, �___________________.�
Long quotes are not appropriate in this essay response.
*****DO NOT USE ANY SOURCES OTHER THAN THE ARTICLE BELOW*****
YOU MAY USE A GRAMMAR CHECKER.
(Most people do very well on thIS final if they try hard.  Remember�NO SOURCES EXCEPT FOR THE ARTICLE BELOW)

PRO / CON: SPANKING
By Jessica Pauline Ogilvie, Special to the Los Angeles Times
When your 3-year-old is throwing a tantrum in the middle of the supermarket or has poured his milk all over the floor, the urge to spank may be overwhelming. If you’ve ever given in to that urge, you’re not alone � research shows that up to 90% of parents spank their children, at least occasionally.
But does it work? And more importantly, is it harmful to kids? Once considered a fairly standard parenting practice, spanking is now opposed by the American Academy of Pediatrics and the American Psychological Assn. (The pediatricians’ statement against the practice includes advice on what parents should do if they strike a child in the heat of the moment: apologize and explain why the spanking occurred.)
Corporal punishment in the home has been banned in 31 countries, including Spain, Israel, Kenya and Costa Rica. No such prohibition exists in the United States, although 32 states have laws forbidding teachers and administrators from striking students.
Those in favor of spanking say it is an effective method of discipline and hasn’t been shown to damage children in the long run. Those against it argue that spanking can cause children to become violent later in life and may increase the chances that they will experience anxiety and
Spanking is dangerous to kids, puts them at risk for problems later in life and is no more effective than other methods of discipline.
Murray Straus is a professor of sociology and co-director of the Family Research Laboratory at the University of New Hampshire in Durham.
The research overwhelmingly shows that spanking is harmful to children. If you were to list all the things a parent wouldn’t want their kid to be doing, you’d have the list of the harmful side effects of spanking. For instance, several studies have shown that the more parents spank, the more likely kids are to hit the parent. Kids who are spanked are also at a higher risk for committing a juvenile crime, assaulting other kids, being depressed as an adult and hitting their dating or marital partner.
One explanation as to why spanking has these side effects is that the child is following the example of the parents hitting them. Another part of the explanation is that when parents spank, children miss out on instances of a conflict being resolved nonviolently and therefore have lower problem-solving skills.
Another problem with spanking is that it undermines the relationship between parent and child. It’s part of American mythology that spanking is not a big deal and that kids take it in stride, but that isn’t what the research shows. Even among kids who say that parents have the right to spank � and most do � it’s still a traumatic experience.
Spanking also violates a child’s right to grow up free from being assaulted. Just imagine that someone twice or three times as big as you starts hitting you � that’s the way kids describe it. It’s fearful. Studies have shown that the more kids get spanked, the higher the child’s score on a post-traumatic stress test.
People are very committed to the idea that spanking is necessary not because they want to hit their kids, but because they believe that it works when other things don’t. But spanking doesn’t eliminate bad behavior any more than other forms of discipline, such as explaining what the child is doing wrong or removing the child from the situation. In one study, 73% of mothers reported that their child repeated the same bad behavior even after being spanked for it.
Not all children will suffer negative consequences of spanking. The harm is in the form of a “dose-response.” A small dose, like a rare occasional spank, is not going to make a difference most of the time, but sometimes it will. You don’t know how spanking is going to affect your child, so the best thing is to avoid it. Instead, use the alternate medicine that works just as well, which is correction and control that doesn’t involve hitting the child.

When used correctly, spanking is safe and effective, and can be an appropriate tool for parents.
Robert Larzelere is a professor of research methodology and statistics in the Department of Human Development and Family Science at Oklahoma State University in Stillwater.
In reviewing all the literature that compares various kinds of punishment, there’s one that leads to better outcomes, reduced defiance and reduced aggression in children, and that’s what I call backup spanking.
In disciplining children, parents should do everything as kindly and gently as they can first. They should try to understand a child, make sure the child understands what is expected of them, use reasoning and find an adequate nonphysical consequence, like a “timeout” or taking away privileges. But if the child won’t cooperate, some kids � at least some of the time � need something more forceful to back it up.
This is where backup spanking comes in. It involves two swats of an open hand to the rear end, and parents should affirm a love for the child afterward. Research finds this to be most effective with 2- to 6-year-olds.
In several studies, kids whose parents used a balance of love and limits, including backup spanking, were found to be doing much better 10 years later during adolescence than kids whose parents were overly punitive and did not show love in various ways to the child. They were also doing better than kids whose parents were permissive, emphasizing love and reasoning to the near-exclusion of any kind of negative consequences.
Just like any disciplinary tactic, the outcome with spanking depends on how it’s used. It’s important that the child understands that the parent is doing it out of concern � not out of rage or frustration, or to show who’s the boss. Parents should not be out of control due to anger if they are spanking in this way. In a study I published in the Clinical Child and Family Psychology Review in 2005, I found that when used correctly, spanking leads to lower defiance and lower aggression than 10 or 13 other disciplinary alternatives with which it has been compared.
Spanking should be used with milder discipline tactics to enforce the idea that the parent and child need to work problems through verbally. So as the child gets older, parents should be phasing out spanking and then using timeouts and privilege removal less and less so they can get to the point where they are resolving their differences in a mutually verbal way.
Opponents of spanking say that it has long-term negative consequences such as increased antisocial behavior. But in my research, I’ve found that those same consequences can be associated with nearly every other kind of nonphysical punishment. In comparative studies, spanking looked no better or worse than grounding children, sending them to their room, or even getting them professional help. One likely reason for this is that children in these studies are more poorly behaved to begin with, and that’s why they’re being disciplined more. But it’s naive to conclude that parents are causing kids to be more aggressive by using spanking when research does not support that notion.

________________________________

________________________________ 

DRAFT of Project 3

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 Instructions

Submit your APA-formatted draft, including citations and a reference list with at least five references to the assignment folder no later than Saturday of week 3. If you would also like to submit your draft to the writing tutors for review, please do so no later than Saturday of week 3.

For your reference, I am including the full assignment description for Project 3 here:

Your boss, who was impressed by your memo, has asked you to identify a single significant issue in your industry and prepare a research-based position paper on how your company can most effectively address the issue. The issue may be one of the trends you identified in project 2, or it may be an overarching issue related to the trends. Use your research to find out how the issue has been addressed by other companies in the past and how experts in the field recommend addressing it.

This assignment is designed to refresh your research and citation skills so that you are fully prepared for the next courses in your program. You will find, access, and analyze information from a variety of sources that include library databases, online trade and professional journals, and timely industry online web resources. You will also refine your ability to provide in-text citations and references in accurate APA format. 

Paper Guidelines:

Your paper should open with an introductory paragraph that identifies a specific problem or issue and makes a claim about its significance in your industry. The rest of your paper will develop an argument that supports this claim. Please review the helpful information about writing an argument paper in UMGC’s Effective Writing Center’s writing tutorial.

Body paragraphs need to describe and justify your proposed solution and explain how it relates to how other companies or experts have addressed the same problem or issue based on your research. Use information from your sources to support your ideas while ensuring that your own voice and ideas control the paper. Be sure to include a parenthetical citation (Author’s last name, year of publication) at the end of every sentence that includes words, ideas, or data from a source.

While presenting your own argument, you should also anticipate and refute counter-arguments or alternative approaches. By showing that you understand other approaches and being very clear about how your approach is preferable, you will be more likely to convince readers to take your advice. 

You should end your paper with a concluding paragraph that reiterates your recommendation and reminds readers of the most important points you want them to remember. You should not introduce new information in your conclusion.

Present your research-based position in an essay of 4-5 double-spaced pages (ca. 1,000-1,250 words) in 12-point Times New Roman font. Include at least five sources in your list of references. Cite each source you list as a reference at least once by using parenthetical citations in the body of your paper. Use APA format for the paper, including the References page.

Diversity management Journal entries

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 Journal Assignment Management of diversity is a changing field.  

The issues of diversity are discussed in news sites, magazines, journals and presentations.  Create a journal of 5 entries of the most current discussions of diversity and business.  For the weeks 6-9, write up 3 journal entries, one for each week. See page 278 in the Workplace Diversity for a journal entry example. The fifth and final entry will be a conclusion entry.  A. Find an article from a reputable magazine, newspaper, or website each week.  The article for each of the weeks should be a current article related to the topic we are covering that week.  For example, the article in Week 6should relate to diversity and leadership.  After finding the article, complete your write-up of the journal entry as presented in your textbook with citation. Your analysis should be about how the article relates to that week’s materials.  For example, you can see if the article information supports the course information. Is it an example of what we are discussing that week, or perhaps it contradicts some of the course materials?Explain your analysis of the article information.  Be sure to reference your reading with page numbers for that week.Complete a journal entry for Week 6(Leadership), Week7(Organizational Change),Week 8(Application/Implementation), and Final Journal Entry (Summary/Conclusion).  Write-up a journal entry using the information from your chosen Academic Excellence Presentation.C. After you have completed your 3 journal entries, complete one concluding entry.  For your concluding entry, discuss the journal entries in sum.  Was there a consistent theme?  Was there an interesting outcome after looking at all of the articles and attending an event?  What did you learn?  What surprised you?  What can you recommend to businesses going forward related to diversity based on your journal assignment?Each journal entry should be 300-400 words not including the citation.The analysis should be the majority of the journal entry.Grading:The assignment will be graded for appropriate articles, analysis of the article or presentation/event in your journal entry, reference to the course materials, and completeness of assignment.The writing should be clear with correct grammar, punctuation, mechanics, usage and spelling. Every journal entry should include citation information for the article in APA or MLA forma tand references to the readings.  

digital literacy

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During Week 2, you chose a career interest topic and created your  project plan. This week’s assignment is to conduct research to locate,  identify and carefully vet at least three (3) credible sources.  Reviewing the directions for the Week 7 assignment now will be helpful  before you begin to research.

In the Week 3 lesson, you read about Location and Access, the third  step of the Big 6 research model. Essentially, this step helps you find  and select the most relevant sources that support your project topic.  Instead of randomly choosing a source that could work, select the best  possible source from those available using the evaluation process  presented in the Weeks 2 and 3 lessons. You will share your scholarly  sources and write a robust summary as you complete the Source  Organization Worksheet template.

Requirements for the Source Organization worksheet include: ·

· Download the template here: Source Organization Worksheet Template (in Word) or 

· One (1) source must be scholarly, peer-reviewed and from the Trefrey library

· Other sources must be credible and appropriate for college research

· Robust source summaries must include  an explanation of the contents of the source and the relevance of the  source to your project’s topic.

· In the document complete Part I, explain the process of locating your sources and Part II the source information.

Accounting Amazon compnay Power point

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Company : Amazon

In week thirteen you were introduced to this assignment.  In week  twelve you selected a publicly traded company and found their annual  report. Now that you have their financial information I would like you  to perform a ratio analysis on the financial statements. Focus on the  financial statement analysis chapter (PDF) you are reading this week.  You will want to compute ratios for your company for the last two years.  Do not compute each ratio you learned about for your company. There may  be some that are not relevant. Rather focus on those eight ratios that  you feel are the most important and relevant to analyze how your company  is doing. Make sure to justify the ratios that you choose for your  analysis. Compare how your company has done to the industry averages. Do  you notice any trends that are positive or negative? Does anything look  good or bad that is notable? Do you have any suggestions on things they  could be doing to improve these ratios? Please analyze what you found  for each of the eight ratios. Then organize your findings into a 15  minute presentation. Be sure to include some background on your company  in your presentation.

Submission Details: 

  • 15 minute presentation
  • Please use PowerPoint for your presentation. 

Critical Thinking and Criminal Justice Careers

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n Week 1, you learned about a few aspects of thinking critically. As you build your critical thinking skills each week, consider the different fields within criminal justice and how important critical thinking skill are for someone in that role.

The criminal justice field has many different career paths, positions, and departments and agencies. Some of the departments and agencies include the Federal Bureau of Investigation (FBI), Drug Enforcement Administration (DEA), Bureau of Justice Statistics (BJS), National Institute of Justice (NIJ), and the National Institute of Corrections (NIC).

Research 2 agencies, departments, or bureaus that function in the field of criminal justice.

Select 1 position within each agency, department, or bureau that you selected so that you have 2 total roles selected.

Write a 700- to 1,050-word summary in which you address the following questions:

  • What are the duties of the 2 roles you selected? Provide examples.
  • How may vagueness, ambiguity, and generalities impact the effectiveness of the selected roles? Provide an example for each role.
  • How is credibility necessary in the 2 roles you selected? Include examples to explain ways credibility can affect someone in each of these roles.
  • How do individuals in the 2 selected roles use critical thinking? Provide situational examples.

Cite 2 references to support your assignment.

Format your paper according to APA guidelines. 

6 assignments

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1.1 Assignment: Reading and Remediation

 

Getting Started

You will watch some videos on basic statistical concepts. Understanding raw data you collect and how to summarize that data into tables is a key skill to begin analyzing data. Pivot tables in Excel are used to summarize raw data into summary tables. 

In order to successfully complete this exercise, you should be able to:

  • Review videos about statistics fundamentals.
  • Practice with the Excel file provided.

Resources

  • File: WS1Practice
  • File: WS1PracticePowerPoint
  • File: WS1Homework
  • Video: Introduction
  • Video: Branches of Statistics
  • Video: Summarizing Data
  • Video: Pivot Table
  • Video: Frequency Distribution Table
  • Textbook: OpenIntro Statistics

Background Information

When analyzing data you must understand the data collected, the type of variables that exist, how to summarize information, and how to provide background on the research questions. This is a reading and remediation activity for Workshop One. You will look at videos to understand concepts of data types and data summarization.

Instructions

  1. Watch the following videos—”Introduction,” “Branches of Statistics,” and “Summarizing Data”:

  2. Watch the Excel remediation videos:
    1. Pivot Table   https://www.youtube.com/watch?v=R6aXwwnTy6Y&feature=youtu.be
    2. Frequency Distribution Table    https://youtu.be/lKqlMfZsK88
  3. An optional supplementary text is the OpenIntro Statistics, and you can read the concepts there.
  4. Use the lab file WS1Practice to practice the Excel skills.
  5. Study the WS1PracticePowerPoint to see how to build the pivot table in the Excel file.
  6. Use the file WS1Homework to demonstrate the Excel skills. Each of the six problems is worth 10 points, for a total of 60 points possible for this assignment.
  7. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop.

https://brightspace.indwes.edu/content/enforced/140329-4SU2021STAT-535-01A/Course%20Files/openintro-statistics.pdf?_&d2lSessionVal=kO7sDBhpPXdCP5E33ZhYBpXg8&ou=105364&_&d2lSessionVal=rkEN33rScYAIAojeSmxJm7zOV&ou=140329

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1.3 Assignment: Two Examples of Misinformation Using Graphs

 

Getting Started

You have looked at graphical misrepresentations of data in the prior activity, and now you will document two recent examples using a Word document. The content will be each of the two graphs and a description of why each graph is misleading.

In order to successfully complete this assignment, you should be able to:

  • Document two examples of graphical misrepresentation of data.

Resources

  • Internet sources or periodicals or annual reports or graphs from your work/business 

Instructions

  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. Find two examples of current (within last five years) graphical misrepresentations of data. As the Resources section states, the graphs can be from Internet sources or periodicals or annual reports or graphs from your work/business.
  3. Create a Word document named WS1-3Graphs containing:
    1. An image of each graph along with a citation showing its origin
    2. A paragraph explaining how each graph misrepresents data
  4. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop
  5. https://fod.infobase.com/OnDemandEmbed.aspx?lti=1&token=150100&wID=98671&loid=0&w=400&h=300#
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1.5 Assignment: Choose One Research Report Data Set

Getting Started

You will be choosing a data set you wish to analyze for the duration of this course. 

In order to successfully complete this assignment, you should be able to:

  • Identify a data set file you will be analyzing. Do not choose the Patients data set.
  • Communicate the choices to the course instructor.

Resources

  • File: SchoolData
  • File: NC Births
  • File: County Complete
  • File: IWU Patients
  • File: Research Report Template
  • File: Research Report Patients

Instructions

  1. Study the data sets to choose from, looking at all the tabs inside the data set.
    1. SchoolData
    2. NC Births
    3. County Complete
    4. IWU Patients
  2. Study the example Research Report Patients.
  3. Choose a data set from the list above to analyze throughout this course.
  4. Download the Research Report Template and save it for your chosen data set.
  5. Conduct a search to find three scholarly sources pertaining to your data set. OCLS resources are preferred sources and can be accessed through IWU Resources. Wikipedia is not permitted, as it is not a peer-reviewed, scholarly source.
  6. In the template, complete the “Project Background” section only up to the “Information and Literature Review,” no further. The template has instructions in it. This should be written as an academic paper with complete sentences and paragraphs.
  7. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop. You will add to the document throughout the course. Do not choose the Patients data set.

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1.2 Discussion: Application of Microeconomic Principles

Getting Started

Understanding the principles of microeconomics gives you the tools for understanding your economic world and how to interpret events that will either directly or indirectly affect you. It provides analytical tools for studying the market, management decision making, and planning on future economic activity.

Upon successful completion of this discussion, you will be able to:

  • Apply the principles of microeconomics to management decision making.

Resources

  • Textbook: Economics for Managers
  • File: Ch01.ppt
  • File: Ch02.ppt
  • Media: Sony Stock Stumbles

Background Information

The reading material in this workshop is foundational for the rest of this course. You will gain an understanding of some of the basic concepts of economics and begin to apply them to particular cases and draw implications for future trends.

Instructions

  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. In Economics for Managers, read:
    1. Chapter 1
    2. Chapter 2
  3. Read the Wall Street Journal article and the Case for Analysis on pages 17-18 in Chapter 2.
  4. Download and review the Ch01.ppt and Ch02.ppt PowerPoint files.
  5. View the media Sony Stock Stumbles.  https://www.cnbc.com/2020/09/15/sony-playstation-5-production-cut-report.html
  6. Navigate to the threaded discussion and post an entry that answers the following questions:
    1. Explain the opportunity cost Sony faces and apply the concept of opportunity cost to the tradeoffs we make.
    2. Explain when coping with scarcity during the current CO-19 pandemic and the tradeoffs we all must make.
  7. Your initial post should be 400 to 600 words in length and include two academic sources that are properly cited. It is due by the end of the fourth day of the workshop.
  8. Now conduct a critical analysis of a posting by two of your classmates by the end of the workshop.
    1. The topic of your discussion response should be your classmate’s posting and should be written as if you were reviewing his or her posting in an academic journal. Your discussion response should, therefore, answer the following questions as applicable:
      1. Were your classmate’s arguments articulate and logical? Were the facts correct?
      2. Was the interpretation your classmate provided reasonable and consistent with experts in the field? Was your classmate consistent with both the substance and intent of his/her references?
    2. The focus for your critical analysis is not whether or not you agree with your classmate, but how well his/her position was presented. Each response should be at least 200 words in length and cite two academic sources.  Please strive to make your discussion responses ones that cause iron to sharpen iron

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1.3 Discussion: Demand Elasticity

 

Getting Started

It is one thing to understand textbook concepts, but another to be able to apply those concepts to studying your own workplace and utilizing that knowledge to make forecasts and recommendations for the future. In this workshop you will gain a broader understanding of demand elasticity and your own firm’s stimulation of demand.

Upon successful completion of this discussion, you will be able to:

  • Describe how demand may shift inward or outward.
  • Describe the concept of elasticity.
  • Apply elasticity concepts to your own work situation.

Resources

  • Textbook: Economics for Managers
  • File: Ch03.ppt
  • Media: Supply and Demand
  • Media: Changes in Supply and Demand

Background Information

This information and exercise build on concepts learned in earlier parts of this workshop.

Instructions

  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. Read Chapter 3 (and refer to Chapter 2) in Economics for Managers regarding demand shifts and elasticity. As you read, think about how an increase in the demand for some particular good or service is greeted by the providers of that good or service.
  3. Download and review the Ch03.ppt PowerPoint file.
  4. View the following media:
    1. Supply and Demand
    2. Changes in Supply and Demand
  5. Then examine your own workplace or some other organization with which you are familiar and determine how it seeks to increase demand for its product.
  6. Navigate to the threaded discussion and post an entry that answers the following questions:
    1. How do firms attempt to stimulate demand (shift demand outward)? Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
    2. If a firm successfully builds brand loyalty for its products, what happens to the elasticity of the product? Hint: Think about consumers’ views of substitutes. Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
  7. Your initial response should be 400 to 600 words in length and include two academic sources that are properly cited.  It is due by the end of the fourth day of the workshop.
  8. Now conduct a critical analysis of a posting by two of your classmates by the end of the workshop.
    1. The topic of your discussion response should be your classmate’s posting and should be written as if you were reviewing his/her posting in an academic journal. Your discussion response should, therefore, answer the following questions as applicable:
      1. Were your classmate’s arguments articulate and logical? Were the facts correct?
      2. Was the interpretation your classmate provided reasonable and consistent with experts in the field? Was your classmate consistent with both the substance and intent of his/her references?
    2. The focus for your critical analysis is not whether or not you agree with your classmate, but how well his/her position was presented. Each response should be at least 200 words in length and cite two academic sources.  Please strive to make your discussion responses ones that cause iron to sharpen iron.

https://media.pearsoncmg.com/pls/products/coco/intro_economics_ap/1256910732/presentations/bu_ie_02_splash.html?fromLms=true

https://media.pearsoncmg.com/pls/products/coco/intro_economics_ap/1256910732/presentations/bu_ie_03_splash.html?fromLms=true

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1.4 Assignment: Analyzing Elasticity

 

 

Getting Started

Economic calculations are used by businesses, governments, and individuals to make decisions based on expected outcomes. This assignment builds upon the previous assignment by requiring you to calculate the price elasticity of demand and analyze its effects on price changes.

Upon successful completion of this assignment, you will be able to:

  • Measure the price elasticity of demand and supply.
  • Analyze the effects of price elasticity of demand on price changes.

Resources

  • Textbook: Economics for Managers
  • Media: Changes in Supply and Demand

Background Information

Antonio’s Mexican Restaurant operates a regional chain of 55 Mexican-American fast-food shops in the Midwestern United States.  Their business model centers on prepared food that is sold ala-carte to customers.  The shops have a small dining area, enough to accommodate 12 customers.  However, the success of the shops has always been in their ability to quickly fulfill prepaid online and app-driven orders at a separate “drive-up/grab and go” location at the shops.  The process results in orders consistently fulfilled in less than 30 seconds, with no onsite payments to slow down the line. 

The COVID-19 pandemic of 2020 forced the closure of all 55 of the shops’ indoor dining areas.  Such an event would have shaken the very foundation of most restaurants of this type, but Antonio’s experience with “grab and go” gave the company a competitive edge as the pandemic unfolded.  During the second quarter of 2020, sales were 30% higher than the same quarter of 2019.  In response to the increased demand, Antonio’s added a second drive-up window to all of its shops with a very aggressive third-quarter construction program.  Sales continued to climb through the remainder of 2020 and through the first quarter of 2021. 

Antonio’s Mexican Restaurant operates a regional chain of 55 Mexican-American fast-food shops in the Midwestern United States.  Their business model centers on prepared food that is sold ala-carte to customers.  The shops have a small dining area, enough to accommodate 12 customers.  However, the success of the shops has always been in their ability to quickly fulfill prepaid online and app-driven orders at a separate “drive-up/grab and go” location at the shops.  The process results in orders consistently fulfilled in less than 30 seconds, with no onsite payments to slow down the line. 

The COVID-19 pandemic of 2020 forced the closure of all 55 of the shops’ indoor dining areas.  Such an event would have shaken the very foundation of most restaurants of this type, but Antonio’s experience with “grab and go” gave the company a competitive edge as the pandemic unfolded.  During the second quarter of 2020, sales were 30% higher than the same quarter of 2019.  In response to the increased demand, Antonio’s added a second drive-up window to all of its shops with a very aggressive third-quarter construction program.  Sales continued to climb through the remainder of 2020 and through the first quarter of 2021. 

Instructions

  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. In your textbook, Economics for Managers, review:
    1. Chapter 2, “Demand, Supply and Equilibrium Prices”
    2. Chapter 3, “Demand Elasticities”
  3. Review the media: Changes in Supply and Demand
  4. Antonio’s is struggling to try to keep up with demand for its regionally popular tacos, burritos, and Southwestern salads.  They have hired you as an economic consultant to assist them with some important pricing issues facing the firm’s 55 restaurants.  Their questions are the following:
    1. We are perplexed with the outcome of certain price changes at our restaurants.  Prior to the pandemic, we sold our Mexican combo, consisting of one beef or chicken taco, one beef or chicken burrito, and one small cup of refried beans for $5.95.  At that time, our average shop was selling 600 Mexican combos each week.  Once the pandemic hit, our commodity inputs rose in price as did the cost of our labor.  We hesitantly raised the price to $6.95, anticipating a major reduction in the weekly quantity of demand.  To our amazement, average sales per store only declined by 15 combos per week.  Please calculate the coefficient of price elasticity of the combo meal using the Midpoints Formula. 
    2. As a budding economist, what can you conclude about the price elasticity of our combo meals?  Did our combo meals prove to be elastic or inelastic in nature?  Explain.
    3. Senior management has directed shop managers to listen very closely to customers as it relates to this and other price changes at the shop.  Without exception, our customers enjoy our products so much, they often state that even after the increase, “they would purchase the combo meals at one dollar more, without hesitation.”  What does this information infer to you relative to the “pricing power” we have with our combo meals?  What does this infer in terms of the combo’s “consumer surplus?”
    4. management is stunned by their consumers’ lack of price responsiveness to the combo meals.  Understanding that our reduction in sales has been minimal, and the fact that consumers continue to speak so highly of the combo meals, does this suggest that Antonio’s might consider another price increase to the $7.25 to $7.75 range?  Explain your rationale for your conclusion on future pricing.
  5. Complete the case study by addressing each of the four questions and posting your analysis with a Word or similar file.  Show all work on the calculations.

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