...Questions for Critical Thinking 1 —From the end-of-chapter discussion questions (DQ) and problems (P) Salvatore’s Chapter 1: a. Discussion Questions: 9. How is the concept of a normal return on investment related to the distinction between business and economic profit? b. Problems: 6, 9, and spreadsheet problem (p. 37). 6. Deterimine which of the two investemtn projects of problem 5 the manager should choose if the discount rate of the firm is 20%. 9. A woman managing a photocopying establishment for $25000 per year decides to open her own duplicating plance. Her revenue during the first year of operation is $120000 and her expences are as follows: Calculate (a) the explicit costs, (b) the implicit cost, (c) the business profit, (d) the econiomic profit, and (e) the normal return on investment in this business. Note: 1. P9(e): the normal return on investment equals the implicit cost. 2. The spreadsheet problem (b): for both variables, Time and Age. Froeb et al.’s Chapter 3: a. Individual problems: 3-1and 3-3. Salvatore’s Chapter 3: a. Discussion Questions: 9. Pg.91 How would you react to a sales manager’s announcement that he or she has in place a marketing proram to maximize sales? The way that I would react to a sales manager’s manager’s announcement that he or she has in place a marketing proram to maximize sales depends on how I am involved in this decision...
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...University of Phoenix Material Questions for Critical Thinking Caps Worksheet Read the description of the six caps and the “Case Study for Six Caps” on p. 175 of Professional Nursing. Answer the following questions individually. Then, discuss your answers in your Learning Team forum online. After you have discussed each question and achieved a consensus, compile a group response, which will be submitted as a Learning Team assignment. White cap: Rachel Skidmore What pieces of information are needed to assist the family in making a decision regarding Marianne’s care? In order for the family of Marianne to make an informed decision certain information is needed. The medical staff needs to review the current prognosis without surgery. What type of treatment or surgery is possible along with the risks, benefits, and recovery required. The staff needs to review if any discussion has occurred in the family with Marianne in the past regarding advance directive wishes even though no formal advance directives have been made. Patient rights need to be reviewed and written copy provided to family. Information on DNR, full code, to allow or when to stop ventilation, and if artificial feedings to be started are a few of the topics that the family needs to have information reviewed to make an informed decision on the care of Marianne. Grief is a natural process that is individual process to each person and the staff needs to allow for the various stages. Red cap: Shirley Palotai How...
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...Critical Thinking And Asking the Right Questions Mark Buscemi Introduction: To survive in such a complex and diverse world we as people must possess the ability to think critically in highly complex situations. The world is an extremely challenging place, all of us are forced to adapt by constantly challenging existing principles and performing certain methods to ensure our growth both physically and mentally. Many claim that contemporary society needs a skill called critical thinking to adapt and survive. Critical thinking is a higher level of intellectual progression that makes use of diverse information, skills and attitudes in interpreting situations and confronting problems. Critical thinking is done by everyone, it is all around us. But how many of us actually understand the critical thinking model created by Browne and Keeley? Critical thinking can only be effective if the one who engages in the process understands the 11 questions and steps created by Browne and Keeley while adapting them to each situation. This paper is an attempt to evaluate and converse the nature of critical thinking as an intellectual process based on the given situation (ex. the memo to evaluate the merit of Ms. Forsythe’s proposal to establish and fund a new leadership development program for junior insurance executives). Critical Thinking: According to Brown and Keeley (2007) critical thinking is an organized intellectual process that an individual undergoes while using...
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...CRITICAL THINKING EXERCISE University of Maryland University College Introduction: In the book, “Asking the Right Questions: A Guide to Critical Thinking (Eleventh Edition), by M. Neil Brown and Stuart M. Keeley”, the authors examine the benefits of critical thinking as it relates to the process of asking the right kinds of questions. The authors state that critical thinking is a method used to improve the way we think by asking the questions that would enable you to reach a personal decision that would eventually give credit to both sides of a discussion. Critical thinking is, in essence, the analysis, synthesis and evaluation of one’s experience, as it relates to the worth of the discussion at hand. The authors define critical thinking as, “the awareness of a set of interrelated critical questions, the ability to ask and answer critical questions in an appropriate manner; and the desire to actively use the critical questions” (p. 4). This paper will evaluate the nature of critical thinking as an intellectual process and apply that to the memorandum date October 10, 2012 to Cynthia Castle from Anil Ravaswami to determine if the issue stated of whether the CEO of the company, Cliffside Holding Company of Massapequa (CHCM) should invest $100,000 per year in leadership training program for junior insurance executives. Browne and Keeley (2010) make it clear that a critical evaluation cannot be done until the conclusion is found and instructs the critical...
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...Module 1 Critical Thinking Questions Submitted By: Nancy Boyd, 0295388 Choose 4 of the 5 questions below to answer. Please provide thorough answers and write in complete sentences. 1. A healthy, young client informs the nurse that she is enrolled om a clinical drug research study. The nurse recognizes the client is involved in which phase of trials? a. Pre-clinical b. Clinical c. Review of the New Drug Application (NDA) d. Post-marketing surveillance The answer is: ¬¬ Clinical Briefly explain what happens in each phase of testing new drugs. Preclinical: Comprises of extensive laboratory research, done on human, microbial and animal cells. Consequently, predicting the effects the drug will have on humans and determines the drug-dose range. However, results in this phase...
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...largely determined by his or her ability to understand and apply concepts in motivation, communication, team dynamics and other OB topics. 2. A number of years ago, employees in a city water distribution department were put into teams and encouraged to ?ind ways to improve ef?iciency. The teams boldly crossed departmental boundaries and areas of management discretion in search of problems. Employees working in other parts of the city began to complain about these intrusions. Moreover, when some team ideas were implemented, the city managers discovered that a dollar saved in the water distribution unit may have cost the organization two dollars in higher costs elsewhere. Use the open systems perspective to explain what happened here. [NOTE: This critical thinking question is based on a real...
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...Compound growth rates are exponential over time. Explain. Growth rates, as well as interest rates, are not linear, but rather exponential over time. In other words, the growth rate of the invested funds is accelerated by the compounding of interest. Over time, the principal amount you receive interest on will get larger with compounding, thus generating higher interest payments 5.9 What is the Rule of 72? This is a rule of thumb to determine how fast an investment can double. It is a rule that allows you to closely approximate the time that it would take to double your money. It works well with interest rates between 5 and 20 percent but varies more with higher rates. The Rule of 72 says that the time to double your money (TDM) approximately equals 72/i, where i is expressed as a percentage. 5.10 You are planning to take a spring break trip to Cancun your senior year. The trip is exactly two years away, but you want to be prepared and have enough money when the time comes. Explain how you would determine the amount of money you will have to save in order to pay for the trip. First, determine how much money you will need for the trip. Second, check how much you already have and how it translates into future value cash—how much it will be worth in two years. Next, determine how much you will have to deposit today, given the bank's offered interest rate, to ensure that you will have saved up the difference when the time for your senior spring break comes....
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...Asking the Right Questions: A Guide to Critical Thinking Browne and Keeley, 2010 The Right Questions… | Critical Question Summary… | What are the issues and the conclusions? | Before you can evaluate an author’s argument, you must clearly identify the issue and the conclusion. How can you evaluate an argument if you don’t know exactly what the author is trying to persuade you to believe? Finding an author’s main point is the first step in deciding whether you will accept or reject it (p. 27). | What are the reasons? | Once you have identified the issue and the conclusion, you need to understand why an author has come to a certain conclusion. Reasons are the why. If the author provides good reasons, you might be persuaded to accept her conclusion. However, right now, we are simply concerned with identifying the reasons. Identifying reasons is the next step in deciding whether you should accept or reject the author’s conclusion (p. 36). | Which words or phrases are ambiguous? | Once you have identified the author’s argument, you need to identify key words or phrases within that reasoning that might have alternative meanings. More importantly, you need to determine whether the author explicitly uses one of those definitions. If she does not, and if one of those meanings alters your acceptance of the conclusion, you have indentified an important ambiguity. Identifying ambiguous words and phrases is the next important step in determining whether you will reject or...
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...What Is Critical Thinking? Essay Question Details: Find three sources that discuss critical thinking. One source should be from the assigned and/or optional readings, and the other two should be found through your own research. Read the three sources, and consider how they define critical thinking. In 300-500 words, explain your own personal definition of critical thinking. Keep the following guidelines in mind: Select a direct quote from one of your resources to include in your explanation. A reference page that documents the three sources you found (and any other resources you used) is required. Remember, all outside sources must be cited both in-text and on your reference page. The articles you found in your research may influence your definition, but your own ideas should be evident. In other words, your process should be: a) Read some definitions and descriptions of critical thinking; b) Comprehend or digest the information; and c) Write your own definition of critical thinking. (Note: Do not simply reword the definitions you read. Consider a new way to explain what you understand critical thinking to be.) Prepare this assignment according to the guidelines found in the GCU Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to Turnitin...
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...1. How does the Fourth Amendment’s warrant requirement protect you? The Fourth Amendment protects us from being seized or have the authority come into our homes without probable cause, without having a warrant to search our property they cannot search the place that which belongs to us. Having the Fourth Amendment around is good but once you’re on Government grounds the Fourth Amendment cannot protect us cause they have actual probable cause to search your personal properties that includes your vehicle, your work space and for the ladies your purses and whatever the ladies care with them even for the men they can search there briefcase and all, cause on Government grounds they can hold 24 hours or more if they except you for treason. 2. What is the Exclusionary Rule? The Exclusionary Rule is a Bill that is use to put criminals behind bars and it was being written in 1914 when they first tested it then it was signed by the President then it was put in motion in 1966. The Exclusionary Rule protects us from those who are willing to bend the laws of men, without this Exclusionary Rule everything and everywhere will be in chaos. 3. How has the Supreme Court applied the Fourth Amendment to employers? How have they ruled with regard to drug testing in work environments? Do you agree with these rulings? The Supreme Court is the highest court we have in the country and according to what they say about them applying the Fourth Amendment to the employers is that everybody...
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...Christopher O’Leary Pgs 19-20 #1-7, 10, 14 1. The three types of financial management decisions are capital budgeting, capital structure, and working capital management. Capital budgeting is the process of planning and managing a firms long-term investments and an example of this would be an education. Capital structure is the mixture of debt and equity maintained by a firm and an example would be partnering with a venture capitalist, by selling a percentage of the company to receive funding for these long term investments. Working capital management is a firms short-term assets and liabilities or how the firm funds its everyday to day activities, and an example would be a firm paying the wages of the employees. 2. The primary disadvantages are that sole proprietorships and partnerships can have unlimited liability for business debts, the business has a limited lifetime, there is a lot of difficulty when attempting to transfer ownership of the business, and the business will have difficulty growing due to the inability to raise cash for these investments. Sole proprietorships and partnerships have an advantage over corporations because they are very simple to form, and these businesses are not considered legal people so, the profits of the business are only taxed once. 3. Corporations have a disadvantage as they are vulnerable to double taxation because the corporation is a legal person, allowing the government the tax their corporate profits twice. Two advantages...
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...Critical and Creative Thinking Questions Question 1 is sensation and perception are closely linked. What is the central distinction between the two? Sensation refers to the process of sensing our environment though touch, sight, taste, sound, and smell. This information is sent to our brain in raw form where perception comes into play. Perception is the way we interpret these sensations and therefore makes sense of everything around us. Like if I did not have sensation I could not hear my mom or music I would not able to taste my food that I made. Question 2 is if we sensed and attended equally to each stimulus in the world, the amount of information would be overwhelming. What sensory and perceptual processes help us lessen the din? Our brain sends singles or messages to our brain all at once we feel overwhelmed so we can’t process them. One day I had an overwhelming feeling and to get it to come down I write it all down or I told a friend or talk to someone that I could trust now I am upset that I told and now they don’t believe me on what I told them my story dose not match my emails. Question 4 is what senses, outside of hearing, would likely be impaired if a person were somehow missing all of the apparatus of the ear (including the outer, middle, and inner ear)? They will be able to use there site to see what they are talking about though reading lips and hand singles. For example my friend she is completely death she can’t hear...
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...Critical Thinking 5 Assignment NAME GRADE 76 Questions Salvatore 10: Discussion Question 2 (a) What are the advantages of the Herfindahl index over concentration ratios in measuring the degree of concentration in an industry? (b) What is the disadvantage of both? ANSWER: (a) The advantages of the Herfindahl index are: (1) uses information on all the firms in an industry, not just market share of the largest 4,8 or 12. (2) appropriately gives more weight to larger firms than to smaller firms within the industry. (b) Disadvantage to both is that they may overestimate the market power of the largest firms in the industry. Neither model considers contestable markets; this is also a disadvantage of both. Salvatore 10: Discussion Question 8 In what way does OPEC resemble a cartel? How successful is it? ANSWER: OPEC resembles a cartel because it represents a group of producers that exist with the desire to set prices beyond the competitive level. They do this by controlling supply of oil produced by its members. Much like a cartel, OPEC's decisions are dictated in the manner to which they will provide the greatest profit for the cartel members. (b) Not very successful, when OPEC increased prices beyond competitve levels, the market responded by decreasing demand for product, which in turn decreased production and export activity for OPEC members. A number or geo-political factors have both historically and recently created spikes in oil prices. Find the Herfindahl index for an...
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...a. Discussion Questions: 9 b. Problems: 6, 9, and spreadsheet problem (p.37) 9) How Is The Concept Of A Normal Return On Investment Related To The Distinction Between Business And Economic Profit? The difference between the business and economic profit is that in economic profit, profit or loss is calculated by subtracting opportunity cost of the inputs used from the revenue of sales. On the other hand, accounting or business profit is the difference between the total revenue and total costs incurred to earn that revenue. Now, in business accounting normal return is the minimum profit that is required to cover the costs of inputs and all of the expenses associated with it. It can be a profit just greater than the breakeven profit (which is zero). The normal return on investment is included as part of profit by businessmen and accountants but as part of costs by economists. Thus, business profit minus the normal return on investment or implicit costs equals economic profit. It is economic profit that is important in allocating society’s scarce resources among competing uses. On the other hand, economic profit is just cost estimation. Therefore, normal profit is required in business profit and not in economic profit, which is one of the differences between the two types of profits (Salvatore, 2012). 6) Determine which of the two investment projects of Problem 5 the manager should choose if the discount rate of the firm is 20 percent. The firm should...
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...1 . Sensation and perception are closely linked. What is the central distinction between the two? Sensations can be defined as the passive process of bringing information from the outside world into the body and to the brain. The process is passive in the sense that we do not have to be consciously engaging in a "sensing" process. Perception can be defined as the active process of selecting, organizing, and interpreting the information brought to the brain by the senses. 2 . If we sensed and attended equally to each stimulus in the world, the amount of information would be overwhelming. What sensory and perceptual processes help us lessen the din? Perceptions vary from person to person. Different people perceive different things about the same situation. But more than that, we assign different meanings to what we perceive. And the meanings might change for a certain person. One might change one's perspective or simply make things mean something else. You would also use vision to observe different people who were having a conversation as well as listening to observe all the conversation taking place. 4. What senses would likely be impaired if a person were somehow missing all of the apparatus of the ear (including the outer, middle, and inner ear)? Sight and balance would be thrown off if the apparatus of the ear were missing. We use sound to help us decide what we need to look at. If we hear a sudden noise we immediately look for the...
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