...Assignment #1 Problems and Best Practices in Retention Question 1 What three problems might an organization have with the issue of employee retention? Explain why they could be a problem. There are many reasons an organization may have with the issue of employee retention such as; money, mergers, health benefits, family reasons, etc. The three problems I believe are money, health benefits and work overload caused by a merger. Higher salary is the number one reason why employee looks for change. When employee feels they are not being paid adequately and the differential in pay between new and longer term employees, they are more likely to leave. For instance, an organization average annual pay increase is approx. 4% however employees perceive that the newcomers are paid better. The second problem might an organization have with the issue of employee retention is the benefit programs. Employees feel that they pay too much for health insurance, especially prescription drug programs. An Organization offers their employees the opportunity to choose a benefit package that is best for their family. The employee has an option to choose from high premium low out-of-pocket cost or low premium high out-of pocket cost benefit package. Whichever one an employee decides to choose, their health insurance still cost too much. The third problem would be work overload caused by a merger. Departments being understaffed and the employees feel as if their workloads are too heavy...
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...PSY/315 March 4, 2013 Chapter 4 Practice Problems (11) List the five steps of hypothesis testing, and explained the procedure and logic of each. 1) Restate the research question; specify the null theory about the populations. State the null theory and the alternate theory Null: Ho: Alteration: Ha: 2) Determine the features of the compared distribution. Define the level of significance, using type 1 errors; identify sample size using data and resources that are available. 3) Define the region cutoff sample score. Identify the test statistics and sampling distributions. 4) Determine the sample’s score on the comparison distribution. Collect any data and compute the statistics test to find p -value 5) Select the appropriate theory. Classify the p-value and identify whether not to reject the null theory. Summarize the results and give a clear comprehensive solution towards the underline problem. (14) Based on the information given for each of the following studies; decide whether to reject the null hypothesis. For each, give (a) the Z- score cutoff (or cutoffs) on the comparison distribution at which the null hypothesis should be rejected (b) the Z score on the comparison distribution for the sample score and (c) your conclusion. Assume that all populations are normally distributed. Study A-D mean population = 5 Standard deviation = 1 Sample score = 7 P = study A&B =.05 P = study C&D = .01 Tails of this study a = 1(high prediction) Study...
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...Chapter 2 PRACTICE Project NOTE: THIS IS A PRACTICE PROJECT, NOT TO BE TURNED IN FOR CREDIT. ITS PURPOSE IS TO GIVE YOU THE OPPORTUNITY TO APPLY YOUR KNOWLEDGE OF CHAPTER CONCEPTS BEFORE YOU ATTEMPT THE END-OF-CHAPTER (EOC) PROJECT. COMPLETE THE PROJECT. THEN USE THE SOLUTION TO GRADE YOUR PERFORMANCE. La Jolla Surf Shop is a large retailer of surfboards in La Jolla, CA. The company has assembled the information shown below for the quarter ended June 30th of the current year. Total Sales Revenues $800,000 Selling Price Per Kayak 400 Variable Selling Expense Per Kayak 50 Variable Administrative Expense Per Kayak 20 Total Fixed Selling Expense 150,000 Total Fixed Administrative Expense 120,000 Merchandise Inventory, Beginning Balance 80,000 Merchandise Inventory, Ending Balance 100,000 Merchandise Purchases 320,000 1. Prepare a traditional income statement for the Quarter. 2. Prepare a contribution format income statement for the Quarter. 1. Traditional Income Statement La Jolla Surf Shop Income Statement For the Period Ending June 30 Sales $800,000 Cost of Goods Sold (80,000 + 320,000 – 100,000) 300,000 Gross Profit 500,000 Operating Expenses Selling Expenses 250,000 Administrative Exp 160,000 Total Operating Expenses 410,000 Net Operating Income $ 90,000 Selling Exp = (50*2,000)+150,000 Admin Exp = (20*2,000)+120,000 ...
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...8.12 Practice Problems and 9.3 Practice Problems Click Link Below To Buy: http://hwcampus.com/shop/8-12-practice-problems-and-9-3-practice-problems/ Problem 2 Build-Rite construction has received favorable publicity from guest appearances on a public TV home improvement program. Public TV programming decisions seem to be unpredictable, so Build –Rite cannot estimate the probability of continued benefits from it relationship with the show. Demand for home improvements next year may be either low or high. But Build-Rite must decide now whether to hire more employees, do nothing, or develop subcontracts with other home improvement contractors. Build-Rite has developed the following payoff table. Payoffs Demand For Home Improvements Alternative Low Moderate High Hire ($250,000) $100,000 $625,000 Subcontract $100,000 $150,000 $415,000 Do nothing $50,000 $80,000 $300,000 What is the decision based on each of the following criteria. Show work in making the decision for each criterion: a) Maximax b) Maximin c) Criterion of realism with coefficient of realism = 0.7 d) Equally likely e) Minimax regret Use the tables given below. a) Optimistic or Maximax Criterion Payoffs Demand For Home Improvements Alternative Low Moderate High Hire ($250,000) $100,000 $625,000 Subcontract $100,000 $150,000 $415,000 Do nothing $50,000 $80,000 $300,000 Decision: b) Pessimistic or Maximin Criterion ...
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...8.12 Practice Problems and 9.3 Practice Problems Click Link Below To Buy: http://hwcampus.com/shop/8-12-practice-problems-and-9-3-practice-problems/ 8.12 Practice Problems 1. Suppose we want to design a new placebo-controlled trial to evaluate an experimental medication to increase lung capacity. The primary outcome is peak expiratory flow rate, a continuous variable measured in liters per minute. The primary outcome will be measured after 6 months on treatment. The expected peak expiratory flow rate in adults is 300 with a standard deviation of 50. How many subjects should be enrolled to ensure 80% power to detect a difference of 15 liters per minute with a two sided test and ? = 0.05? 2. An investigator wants to estimate caffeine consumption in high school students. How many students would be required to ensure that a 95% confidence interval estimate for the mean caffeine intake (measured in mg) is within 15 units of the true mean? Assume that the standard deviation in caffeine intake is 68 mg. 3. Consider the study proposed in problem #2. How many students would be required to estimate the proportion of students who consume coffee? Suppose we want the estimate to be within 5% of the true proportion with 95% confidence. 9.3 Practice Problems # Hours # AVG NBR #Cups Female Year in Current Exercise of Drinks Coffee ID Age Sex School GPA Smoker per week per week per Week 1 18 1 Fr 3.85 1 7 3 3 2 21 0 Jr 3.27 1 3 2 4 3...
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...Practice problems – Set I 1. A bank classifies borrowers as high-risk or low-risk. Only 15% of its loans are made to those in high-risk category. Of all its loans, 5% are in default, and 40% of those in default were made to high-risk borrowers. What is the probability that a high-risk borrower will default? 2. A fund manager is considering investing in the stock of a healthcare provider. The manager’s assessment of probabilities of the rates of return on this stock over the next year is summarized in the table below. Rate of return Less than -10% -10% to 0% 0% to 10% 10% to 20% More than 20% Probability 0.04 0.14 0.28 0.33 0.21 Let A be the event “Rate of return will be more than 10%,” and B be the event “Rate of return will be negative.” • Find the probability of events A and B. • Describe the even that is complement of event A. • Find the probability of the complement of A. • Describe the even that is complement of event B. • Find the probability of the complement of B. • Describe and find the probability of event that is intersection of A and B. • Describe and find the probability of event that is union of A and B. • Are events A and B mutually exclusive? Collectively exhaustive? 3. A random sample of 52 personal property insurance policies showed the following number of claims over the last year: # of claims 0 1 2 3 4 5 6 # of policies 21 15 5 4 2 3 2 • Find the mean number of claims per day. • Find the sample variance and standard deviation. ...
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...Problems and Best Practices in Retention Strayer University HRM534, Employment and Labor Relations 1/23/2011 What three problems might an organization have with the issue of employee retention? Explain why they could be problems. When an organization loses employees, they also lose skills, experience and corporate memory. The magnitude and nature of these losses can be critical problems for and organization. It is no doubt that over the years, the employment relationship has undergone a number of changes that impact attraction, motivation and retention of talented employees. This has brought to the forefront the need to understand the individual/organizational relationship, namely the psychological contract. This is the employee’s interpretations and evaluation of their deal with the organization (Dietz, 2009). Past research has shown that in order for retention management to be effective, the employee’s and the organization’s expectation must be in line. Also job satisfaction, loyalty, and commitment can cause problems in relation to employee retention. Employees are no longer looking to work for one place for the rest of their life and make an average wage. They are always looking for ways to advance in their careers. If these needs are not met by the organizations, this will lead to turnover. Individual employee performance can also lead to problems in retention. Motivation is the key. When employees have insufficient support to get tasks accomplished...
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...Practice Problem Set 3 for Econ 4808: Optimization A. Unconstrained Optimization (Note: In each optimization problem, check the second-order condition.) 1. Consider the function: y = 2 x2. a. Determine the average rate of change of the function in the closed interval [1,4] of the argument. b. Determine whether the function is concave or convex, using geometric test and a specific value of ( = 0.3. c. Do the concavity/convexity test using the derivative conditions. 2. Consider the function: y = 2x. a. Determine the average rate of change of the function in the closed interval [1,4] of the argument. b. Determine whether the function is concave or convex, using geometric test and a specific value of ( = 0.3. c. Do the concavity/convexity test using the derivative conditions. 3. Use the derivative condition to test whether the function y = 8 + 10x - x2 is concave or convex over the domain [0,7]. 4. In a cross-country study of the relationship between income per-capita (Y) and pollution (S), Grossman and Krueger estimate a cubic relationship as S = 0.083Y3 - 2.2Y2 + 13.5Y + X, where X represents other factors not linked to income. For this exercise, consider X as a fixed quantity for a country. Identify and characterize the extreme values of this function. 5. In the model of perfect competition, all firms are price-takers since they treat price (P) as a market-determined constant. Assume that P = 12. A firm's total revenue (TR) function is TR(Q)...
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...Assignment #1 – Problems and Best Practices in Retention Employee and Labor Relations HRM 534/Jamie Davis Smith, Esq. January 22, 2012 What three problems might an organization have with the issue of employee retention? Three Problems an organization might face with employee retention could be identifying the problem for turnover, employees facing heavier loads which could cause more turnover, and financial burden due to high turnover rates. First, identifying the reasons for employee retention can be difficult especially in large companies. There could be ample stipulation regarding the reasons for turnover however, until the true reasons are identified, the problem can not be resolved. There are many employers in the medical field who believe pay is the biggest reason for turnover yet many don't offer basic perks. A "survey from 110 healthcare organizations--finds that 42% of health care organizations offer total reward strategies, such as retirement plans and vacation, compared to 70% of other industries" (news-medical.net). It is old news for all of us in the medical field, retention is a big problem. Many employees feel overworked and under rewarded in the medical field and this is a huge problem when there are other organizations where nurses, billing clerks, and even physical therapists can find jobs. For example, nurses and billing clerks can easily find a job at a big insurance company, especially if they have prior experience at a clinic or other medical...
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...MBA/MFM 253 TVM Practice Problems 2 Fall 2011 1. You are considering buying a new car. The current price of the car is $25,000. The dealer has offered you a special nominal interest rate of 3% each year for the next 3 years if you finance through the dealership. a) What is your monthly car payment? PV = 25,000 I = 0.25 N = 36 FV = 0 PMT =? = $727.03 25,000 = PMT (1-(1/(1.0025)36))/.0025 b) You are considering putting a $5,000 down payment on the car, what would your payment be if you did this assuming you could still get the special interest rate? $581.62 c) In either case what is the effective rate of interest you paid on the car? 1.002512=1.030416 3.0416% 2. A given rate is quoted at an effective annual rate of 12.55%. If you know that the interest compounds quarterly, what is the nominal annual rate? 12% Need to find the rate that when compounded four periods will equal .1255 solve for r in the following equation (1+(r/4))4=1.125 3. What is the PV of an annuity that pays 10,000 a year at the end of each of the next 15 years assuming a 5% return? $103,796.58PMT = 10,000 N=15 I = 5 FV = ) PV = ? What is the PV of an annuity that pays 10,000 a year at the beginning of each of the next 12 years assuming a rate of 7%? $84,986.743 3. PV and FV problems that are a little harder ( you need to figure out the pieces, the final answers are there – but you need to figure out how it set it up – the set up is usually the trickier part and the...
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...1. Comet Powder Company has purchased a piece of equipment costing $100,000. It is expected to generate a ten-year stream of benefits amounting to $16,273 per year. Determine the rate of return Comet expects to earn from this equipment. a. | 16.3% | b. | 62.7% | c. | 10% | d. | 20% | ANS: C 2. The earnings of Omega Supply Company have grown from $2.00 per share to $4.00 per share over a nine year time period. Determine the compound annual growth rate. a. | 11.1% | b. | 8% | c. | 22.2% | d. | 100% | ANS: B 3. Mr. Moore is 35 years old today and is beginning to plan for his retirement. He wants to set aside an equal amount at the end of each of the next 25 years so that he can retire at age 60. He expects to live to the maximum age of 80 and wants to be able to withdraw $25,000 per year from the account on his 61st through 80th birthdays. The account is expected to earn 10 percent per annum for the entire period of time. Determine the size of the annual deposits that must be made by Mr. Moore. a. | $212,850 | b. | $23,449 | c. | $2,164 | d. | $8,514 | ANS: C Solution: PVAN = PMT(PVIFA0.10,20) = $25,000(8.514) = $212,850 needed on 60th birthday $212,850 = PMT(FVIFA0.10,25) = PMT(98.347) PMT = $2,164 4. Determine how much you would be willing to pay for a bond that pays $60 annual interest indefinitely and never matures (i.e. a perpetuity), assuming you require an 8 percent rate of return on this investment...
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...Chapter 1: 12) a. Equal- interval- variable that have constant, equal distances between values, but the zero is arbitrary. An example is a pain scale 1-10. b. Rank-order- a variable in which the numbers stand only for relative ranking. An example could be a birth order, child #1, child #2, child #3 and so on. c. Nominal- a variable that is not a number and the values are names or categories. An example would be abnormal psychology and the values would be: PTSD, anxiety, Depression, schizophrenia, etc. d. Ratio-scale- a number scale that has an absolute zero point. An example would be the amount of men who buy new cars to the amount of women who buy new cars. e. Continuous-in theory an infinite number of values between any two values. An example would be, “How far along are you in your pregnancy?” The answer would be a specific amount, say 2 to 3 months. It could also be answered 2.5 months. 19) a. Bimodal- An example of bimodal distribution would be studying the average age of elementary girls who play Little League softball. The data could show that out of 20 elementary girls there were 6 that were the age 8 and 10 that were the age 12 and the rest were between 9 and 11. The bimodal distribution would show 2 bumps, one to state that the average age was 8 and the other hump would state that the average age was 12. b. Approximately rectangular- all subjects have an equal probability of happening. An example is a six-sided die, each...
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...Consideration – Personnel Case Study 3 Is there a practice policy for sickness absence? If not written down, what is accepted practice? How well has this been communicated to all staff? How is this reinforced? How are the facts re sickness absence recorded? Is the procedure reasonable, fair and consistently adhered to throughout the practice? Are there systems in place for monitoring all absences? Were the assumptions and suspicions about alcohol investigated – any evidence? Assuming investigations and observations re alcohol were confirmed (ie evidence/observation confirmed by staff member turning up drunk, under the influence of alcohol, smelling strongly of alcohol), should this have constituted instant dismissal there and then? Consider what support/counselling/advice you would give any member of staff with personal problems which led to poor performance. Does the receptionist know that the situation now is clearly about discipline and what that involves? Has she acknowledged (1) understanding of why she has been disciplined and (2) receipt of formal final warning? Was a timescale for improvement implicit in previous warnings? Did the practice consider that there may be a genuine social problem underlying the “alcoholism”? If a health/social problem was identified, should the practice have considered giving guidance on access to counselling/support rather than discipline? Should the practice bite the bullet and accept that the car accident...
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...Part 3: Business Quality – 5 Practice Principles By: Gautam Borah Abstract: “Business Quality – The Fundamentals”, is the first treatise in the series of Business Quality. The first part contended a new Postulate on Quality which addresses the need of an organization and customer in the current global scenario of business. The title “Business Quality - The Delivery Model” is the second treatise on the subject of Business Quality. This is the third part titled “Business Quality – 5 Practice Principles”. This part delineates the principles on which the Business Quality is predicated. The treatise proposes 5 principles which can help an organization to create the DNA of Business Quality. Introduction The first treatise in this series of Business Quality discussed the notion of Quality in the context of current global business environment and a new postulate has been reprised. The second treatise delineated a Delivery Model for the postulate. This article is the Part 3 of the same series which illustrates the Practice Absolutes of Business Quality. The intrinsic notion of the practice principles The principles presented in this article are at practice levels. Unlike strategic principles, the practice principles aim at execution and will assist the organizations to build a culture of business Quality. Besides, practiced with a suitable monitoring and measurement system, these principles will act as the operational building blocks to sustain the Business Quality initiative...
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...After attending the Mindfulness course from 22th January 2014, I had new and different feelings compared with the feelings about mindfulness before I attend the course. During those practices, I got some reflections from them. Mindful eating is the practice that help me to discover my habits and notice about the food I eat. When I had the first mouth of one meal, I ate more slowly and I could feel fuller. I started to chew it slowly which is different from my previous eating habit that eat food quickly and take other one at once. However, I can still feel hungry when I doesn’t practice mindful eating. I think the reason behind is that I just chew so fast and then swallow them quickly. I started to know that I consider what I am doing when I am eating but not just rush to put the food into my mouth and eat all the food on the plate. Knowing what I am eating and doing can help me to eat in a proper size of food and prevent I feel too full. Although I didn’t weight my body weight, I believe it can prevent overeating and thus may help weight loss. Since it can let me know and notice how much, how quickly I usually eat and whether I am full or not. From an unpublished study, it discovered that people that in mindful eating course lost weight an average of around 10 pounds over a year which more than those used weight loss drugs. Moreover, there was a greater reductions in cardiovascular risk factors in people that have mindful eating. (Hobson, 2009) Besides, it let me enjoy...
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