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## Comparison of Simple Random, Stratified, Quota and Area Sampling Methods Answer

Comparison of Simple Random, Stratified, Quota and Area Sampling Methods

Definitions:

Simple random sampling (SRS) is a probability sampling procedure that gives every element in the target population, and each possible sample of a given size, an equal chance of being selected. As such, it is an equal probability selection Method (Daniel, 2011).

Eg: Selection of 5 cards randomly from a pack of cards

Stratified sampling is a probability sampling procedure in which the target population is first separated into mutually exclusive, homogeneous segments (strata), and then a simple random sample is selected from each segment (stratum). The samples selected from the various strata are then combined into a single sample (Daniel, 2011).

Eg: Selection of 30 respondents each, randomly from low, medium and high income earning households in Organization X of Texas.

An area probability sample is type of cluster sampling in which geographic areas are sampled with known probability. In survey research an area probability sample is usually one in which areas are selected as part of a clustered or multi-stage design (Scheaffer et al.,2011)

Eg: Selection of 500 students from District X of the State Y by grouping district into small block and then drawing each block randomly. Then divide selected blocks into sub blocks and continue progressive blocking till you get school as randomly selecting unit.

Quota sampling is a method in which fixed proportion of respondents are drawn from two or more strata of given sample in non-random manner

Eg: Selection of 30 male and 30 female employees who first enter into canteen of the office.

Differences between selected sampling methods

In case of SRS, Samples are drawn without dividing the population into strata. Whereas in case of Stratified random sampling, Quota sampling and Area probability sampling; samples are drawn only after samples are drawn only after grouping of the respondents into different strata, and in case of area sampling, samples are drawn only after grouping of the respondents into clusters.

SRS method is more effective when population is more homogenous, whereas rest of the three sampling methods is more effective when the population is relatively more heterogeneous.

Next major difference between these sampling methods is that, in case of Stratified random sampling and quota sampling it requires each stratum to be as homogenous as possible internally and two strata should be as heterogeneous as possible. Whereas in case of cluster sampling it is desirable to have each cluster as heterogeneous as possible internally and two clusters should be as homogenous as possible (Sukhatme, 1957).

SRS requires no advanced auxiliary knowledge about the respondents in the population, whereas rest of the three sampling methods demands the better knowledge about the population. Additionally sampling methods like SRS and stratified sampling require a well defined sampling frame whereas methods like quota sampling and cluster sampling do not require a well-defined sampling frame (Daniel, 2011).

One of the advantages of SRS is that it eliminates selection bias whereas rests of the methods suffer from various degree of selection bias. But Simple random sampling generally have larger sampling errors whereas Stratified and cluster samples generally yield relatively smaller random sampling errors. Another limitation associated with SRS is that it doesn’t facilitate inter-group inferences and comparisons across strata, whereas methods like quota sampling, stratified sampling and area sampling facilitate inter-subgroup comparison

References

Daniel, J. (2011). Sampling essentials: Practical guidelines for making sampling choices. Sage Publications.

Scheaffer, R., Mendenhall III, W., Ott, R., & Gerow, K. (2011). Elementary survey sampling. Cengage Learning.

Stopher, P. R., & Meyburg, A. H. (1979). Survey sampling and multivariate analysis for social scientists and engineers (pp. 263-258). Lexington, Massachusetts: Lexington Books.

Sukhatme, P. V. (1957). Sampling theory of surveys with applications.

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## Visit the SHRM website and look for the key developments set to transform the practice of global HR Answer

Society for Human Resource Management (SHRM)
•Visit the SHRM website and look for the key developments set to transform the practice of global HR in the near future.
•Select at least three trends that will transform global HR and describe how these trends will affect organizations and HR professionals.
•https://www.shrm.org/ResourcesAndTools/hr-topics/global-hr/Pages/default.aspx

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## Burnwood Tech plans to issue some \$60 par preferred stock with a 6% dividend Answer

Burnwood Tech plans to issue some \$60 par preferred stock with a 6% dividend. A similar stock is selling on the market for \$70. Burnwood must pay flotation costs of 5% of the issue price. What is the cost of the preferred stock?

Ans:

Cost of the preferred stock = D1 / P0(1-F)

Cost of the preferred stock = 3.6 /70(1- 0.05) = 0.0541 = 5.41 %

Cost of the preferred stock = 5.41%

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# Network Design Paper

The University has recently leased a building in Adelphi, Maryland. The building will house some offices, classrooms, library, and computer labs.

Building dimensions:

Length: 240 Feet, Width: 95 Feet, Height: 30 Feet

The 50-year-old two-story building has the following layout:

There will be six computer labs that will be used for instruction. Each of these labs will have 26 computers (24 student computers and 1 instructor computer). Each of these labs will also have a server in the closet located inside the lab.

In addition to the six computer labs, there will also be a Student Computer Lab that will provide computer access to students to do their homework. There will be 30 computers in this lab and a server in the closet.

The library will also have some computers to allow students access to the library resources. There will be 10 computers for student’s use in the library, and 5 computers for Library staff.

There are five lecture classrooms in the building. Each of this room will have a computer for instructor’s use.

Finally, there are various offices in the building. Each of these offices will have one computer for the staff use, with the exception of the Admission office that will have 5 computers for staff use.

Equipment Inventory

 Workstation Placement Number of Computers Users Total Computers 6 Instructional Computer labs 26 Student and Faculty 156 Student Computer Lab 31 Student 31 6 various offices 6 Staff/Faculty 6 Admission office 5 Staff 5 Library 10 Student 10 Library 5 Staff 5 5 classrooms 1 Faculty 5 Server Staff To be determined by students Network Connecting Devices IT Staff To be determined by students Printers To be determined by student

Two server rooms have been allocated, one on the first floor and one on the second floor.

Your task is to design the network for this new building with the following criteria:

• Student-accessed computers should be on separate network from the staff-accessed computers.
• The whole building will share one Internet access connection (T-1 link from Verizon). This connection will come into the Server Room on the first floor.
• Security is very important for UMUC as we have to protect students and employee’s data as well as any intellectual property that UMUC has on the servers and computers.
• The network has been assigned the 10.11.0.0 network address for all computers and devices. For Internet routing use 151.1.1.1 network address.
• The network should use physical cable (not wireless), but do provide wireless access in the Student Lobby area.

Submission should include (in no more than three pages, excluding diagrams and references):

1. Define the subnet (based on: rooms, floor, department, or other criteria).
2. For each subnet, define the network address, subnet mask, and available IP addresses to be used by computers or devices.

Physical Network Design:

1. Define the topology that will be used.
2. Select the appropriate network media to use.
3. Select the appropriate network connecting devices to use.
4. Physical layout of the computers on the floor plan.
5. List of additional servers or network devices needed to implement the network.
6. Justifications for your network design (number 1 – 5 above)

You will be evaluated on your ability to

• Implement appropriate IP addressing scheme
• select and justify appropriate cable media that includes the length of each cable segment and number of nodes on each segment
• select and justify appropriate topology such as star, bus, or ring for your network
• select and justify of your selected network equipments
• select and justify appropriate network services to meet network requirements
• select and justify security implementation for the network
• use proper grammar, formatting, network terminology, and reference citations

Feel free to use any drawings or attachments, and assume any number of computers or users (not when provided here). You will be graded on the basis of right media, topology and knowledge of network concepts.

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## Summerdahl Resort’s common stock is currently trading at \$36 a share. The stock is expected to pay a dividend Answer

Summerdahl Resort’s common stock is currently trading at \$36 a share. The stock is expected to pay a dividend of \$3.00 a share at the end of the year (D1 = \$3.00), and the dividend is expected to grow at a constant rate of 5% a year. What is its cost of common equity?

Ans:

 Growth 5.0% Stock price \$36.00 Expected dividend \$3.00 rs 13.33%

Cost of common equity =   3 / 36 + 0.05 = 0.0833 + 0.05 = 0.1333 = 13.33 %

Cost of common equity = 13.33 %

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## BUSN 460 Senior Project Week 7 CANGO Final Report and Presentation You and your team have been hired by CanGo as consultants to help them improve their fast-growing business Answer

BUSN460 Senior Project
Final Report and Presentation Guide
Overview:
The object of this course and this project is to provide you with a realistic situation that you are likely to face in the real world business environment. You’ll be working with limited information, limited support from your client, within a limited time frame – and yet, you have to get up to speed in a new area quickly, and make informed professional recommendations based on your research and analysis.
In previous courses you have been given specific guidelines, templates and rubrics, but in this course it is up to you to put together the best approach to each project and challenge brought to you by your client. You should draw on all of your past classes to thoroughly address the requirements of this project – marketing, accounting, finance, human resources management, composition and business writing, business policy, information technology, etc. Your efforts should show that you are using all of the tools in your toolbox.
The board at CanGo is looking for well supported recommendations, backed up by solid, high quality research, analysis and numbers that support your guidance. They are looking for facts, not opinions. They are looking for objectivity, not ad copy from a vendor’s website. They are looking for your best work, because they really need your help.
Final Presentation and Report
This final report will outline your team’s observations and analysis of CanGo as revealed by all of the videos viewed during the course. Based upon this input, your team will include in its final definitive report a description as what you believe are CanGo’s notable challenges and the team’s recommended solutions to those challenges.
You have 7 weeks to learn about the CanGo situation, and simultaneously work to build your substantive recommendations for making it better. This is a real world work situation that analysts face every day, where we have been contracted for a tidy sum to help objectively steer a company toward the next step in their evolution by delivering the most thorough, in-depth and incredibly competent analysis possible, given the time and space allowed. Customers don’t provide templates, rubrics and hints in the real world, they look to us, the educated, trained professionals, for that structure – and they definitely expect to get their money’s worth. We’re not here to summarize, we are here to provide strategic INSIGHT, based on everything you’ve learned in your various experiences (DVU classes).
The final paper draws from what you’ve learned that over the course of the videos and resulting analysis reports, but takes it to a higher level with market research, competitive analysis, financial analysis, and strategic recommendations. Telling me a great deal of what I already know as the client (recapping what is presented in the class) is not a good idea. The team video analysis reports provide a basis of fact from which to work on the final paper and presentation, which are to be completely separate documents from the analysis reports, i.e. the final paper cannot be an amalgamation of previous analysis reports.
The final report should be an insightful piece of work that takes what you’ve learned about CanGo, what you’ve researched about the market, the industry, the competition, etc., what you’ve analyzed in terms of options, risks and rewards, and delivers meaningful, actionable observations and recommendations to help improve the client’s business. How the team uses the information gathered in the weekly team analysis reports is up to you – you’re the highly paid consultants, and on the other side of the desk here at CanGo, I can only provide limited guidance. Use your imagination, be creative and professional and have fun with it!
Recommendations from the board: Make sure your final presentation makes us feel good about the \$100,000 check we wrote to you a few weeks ago. The board and our investors are looking for insights, research, well supported and accurately sourced facts, not the obvious conclusions or easily-reachable opinions that we get from our disorganized employees. We expect numerous sources on your reference page, and corresponding citations throughout the paper so that we know when you are speaking and when you are presenting information from a source. We want to see professional quality analysis and business advice that makes a real difference and takes us to the next level. We expect and require the investment in your team to pay off.
1.) Teamwork: This is a good time to reinforce the importance of teamwork. You’ve been hired as a team, and each individual on the team has a responsibility to do their fair share of the work for the team qualitatively and quantitatively. This means attending all team meetings, meeting all deadlines set by the team, and being an active contributor at every level to the team effort. Students who fail to contribute equally to the team effort can receive a different lower grade than other team members, and in extreme cases, be removed from the team, making it very difficult to pass the class. Supporting your team members should be your first priority – you are in this together, and everyone must do their fair share for the team to succeed.

2.) Research: The final paper and presentation goes beyond any of the individual issues seen with employees and managers over the last few weeks. Your research should be strategic in nature, looking at the size of current and potential markets, competition, legislation regulation, changes in technology – whatever you think is most important on a strategic level to help this company stay on track and move to the next level.

3.) Team Video Analysis Reports and the Final Project: The team video analysis reports are for your education, that is, to help you stay up to speed with the information presented in the course. The analysis reports cannot be recycled into the final project. Start the final project with a clean sheet of paper, using the analysis reports only for general reference.

4.) Formatting: Your team paper must support your PowerPoint presentation. Present your findings in a concise paper (2,000-2,500 words – exceed the minimum!) using Times New Roman, 12-point font, double spaced, no unnecessary spaces between sections or paragraphs, 1 inch borders, with an appropriate table of contents and executive summary at the beginning of the paper and supporting data in the remaining body of the paper. This may include diagrams, graphs, Gantt charts, appendices, etc. Appendices in addition to the core five pages are permissible as long as they support your recommendations. As always, accurate APA citation is required for all sources.

5.) Presentation: Because the presentation will be given online in a web conference, your presentation should be very legible, that is all text and graphics should be very clear. Avoid using small text or graphics that are not very sharp, as they won’t show up very clearly in the web conference environment. Additionally avoid the use of the following as they may not function reliably in the web conference environment:
a. Unnecessarily complex slide backgrounds
b. Animations/animated GIFs
c. Slide transitions
d. Sound effects
e. Video clips
f. Anything that moves. Keep your presentation clean, simple clear and legible
g. Each team must ask at least 2 questions of other teams

6.) Common mistakes made in previous classes:

a. Referring to the videos or individual employees. Assume this is a real-life environment, and that the board members are not aware of the day-to-day issues of the individual employees.
b. Talking points: Assume your audience can read! In a professional presentation environment, few things are more grating than having someone read bullet points off of a presentation word for word. The bullet points on your presentation should be talking points, your presentation material should add depth and color to those talking points. I recommend developing a script based on the presentation points but takes the material to a higher level.
c. Technical issues: Practice working in web conferences continuously throughout the course so that you are familiar with your microphone and speaker levels, and how the software works. Login to the final exam session well before the start time, as your team may be selected to go first. It can take several minutes for web conferences to load – don’t be late to the meeting!
d. Directions during the presentation: The instructor may provide directions through the chat window during your presentation. If we can’t hear you, or there is some other issue, look for those directions in the chat window.
e. Practice, practice, practice! When presentation day comes it is very easy to tell which teams have practiced giving their reports in dry run sessions together and which teams have not. Your presentation should come off as a polished well rehearsed effort, clearly spoken, with smooth, pleasant professional transitions between each team member section, with a clear beginning and a clear end. Be prepared for a Q&A session from the instructor and your peers at the end of the presentation, and be prepared to answer any question that is asked, calmly and professionally.
f. Not asking questions: Take notes while the other teams are presenting and be prepared to be called on to ask your (intelligent, thoughtful) questions by the instructor.

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## Matuseski Corporation is preparing its cash budget for October. The budgeted beginning cash balance is \$17,000. Budgeted cash receipts total \$187,000 Answer

1. Buckhorn Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below.

Estimated machine hours 85,000
Estimated total fixed manufacturing overhead \$951,888

Required:

Compute the company’s predetermined overhead rate.

2. Matuseski Corporation is preparing its cash budget for October. The budgeted beginning cash balance is \$17,000. Budgeted cash receipts total \$187,000 and budgeted cash disbursements total \$177,000. The desired ending cash balance is \$40,000. The company can borrow up to \$120,000 at any time from a local bank, with interest not due until the following month.

Required:

Prepare the company’s cash budget for October in good form.

3. Nic Saybin Enterprises Accounting Department collects all pertinent monthly operating data. Selected data are presented below for the current month. From the data provided, please provide Saybin Enterprises Management with a flexible budget analysis to see how costs were controlled.

4. McMullen Co. manufactures automatic door openers. The company uses 15,000 electronic hinges per year as a component in the assembly of the openers. You have been engaged by McMullen to assist with an evaluation of whether the company should continue producing the hinges or purchase them from an outside vendor.

The Accounting Department provided the following detail regarding the annual cost to produce electronic hinges:
Direct materials \$54,000
Direct labor 60,000
Total costs \$240,000

The Procurement Department provided the following supplier pricing:
Supplier A price per hinge \$11.00
Supplier B price per hinge \$10.75
Supplier C price per hinge \$10.50

The supplier pricing was obtained in response to a formal request for proposal (RFP). Procurement has determined these suppliers meet McMullen’s technical specifications and quality requirements.

If McMullen stops producing the part internally, 10% of the manufacturing overhead would be eliminated.

Required: Prepare a make-or-buy analysis showing the annual advantage or disadvantage of accepting an outside supplier’s offer.

3. (TCO E) Topple Company produces a single product. Operating data for the company and its absorption costing income statement for the last year are presented below:
Units in beginning inventory 2,000
Units produced 9,000
Units sold 10,000
Sales \$100,000
Less cost of goods sold:
Beginning inventory 12,000
Add cost of goods manufactured 54,000
Goods available for sale 66,000
Less ending inventory 6,000
Cost of goods sold 60,000
Gross margin 40,000
Less selling and admin. expenses 28,000
Net operating income \$12,000

Variable manufacturing costs are \$4 per unit. Fixed factory overhead totals \$18,000 for the year. This overhead was applied at a rate of \$2 per unit. Variable selling and administrative expenses were \$1 per unit sold.

Required: Prepare a new income statement for the year using variable costing. Comment on the differences between the absorption costing and the variable costing income statements. (Points : 30)

4. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation for the just-completed year.
Sales 1,200
Raw materials inventory, beginning 25
Raw materials inventory, ending 50
Purchases of raw materials 180
Direct labor 230
Selling expenses 200
Work-in-process inventory, beginning 150
Work-in-process inventory, ending 120
Finished goods inventory, beginning 100
Finished goods inventory, ending 110

Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is the impact on the financial statements if the ending finished goods inventory is overstated or understated? (Points : 25)

. (TCO F) Carter Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.

Work in process, beginning:
Units in beginning work-in-process inventory 400
Materials costs \$6,900
Conversion costs \$2,500
Percentage complete for materials 80%
Percentage complete for conversion 15%
Units started into production during the month 6,000
Units transferred to the next department during the month 5,800
Materials costs added during the month \$112,500
Conversion costs added during the month \$210,300
Ending work in process:
Units in ending work-in-process inventory 1,400
Percentage complete for materials 70%
Percentage complete for conversion 40%

Required: Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department. (Points : 25)

2. (TCO G) – (Ignore income taxes in this problem.) Axillar Beauty Products Corporation is considering the production of a new conditioning shampoo that will require the purchase of new mixing machinery. The machinery will cost \$375,000, is expected to have a useful life of 10 years, and is expected to have a salvage value of \$50,000 at the end of 10 years. The machinery will also need a \$35,000 overhaul at the end of Year 6. A \$40,000 increase in working capital will be needed for this investment project. The working capital will be released at the end of the 10 years. The new shampoo is expected to generate net cash inflows of \$85,000 per year for each of the 10 years. Axillar’s discount rate is 16%.

Required:
(a) What is the net present value of this investment opportunity?
(b) Based on your answer to (a) above, should Axillar go ahead with the new conditioning shampoo?

3. (TCO B) Madlem, Inc., produces and sells a single product whose selling price is \$240.00 per unit and whose variable expense is \$86.40 per unit. The company’s fixed expense is \$720,384 per month.

Required:

Determine the monthly break-even in either unit or total dollar sales. Show your work!

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## Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices Answer

Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost \$1,541,296. have a life of five years, and would produce the cash flows shown in the following table.

Year Cash Flow
1 \$6,33,804
2 -\$2,13,739
3 \$8,41,438
4 \$9,99,903
5 \$8,89,876

What is the NPV if the discount rate is 13.39 percent?

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## Investment Advisors, Inc., is a brokerage firm that manages stock portfolios for a number of clients Answer

Investment Advisors, Inc., is a brokerage firm that manages stock portfolios for a number of clients. A particular portfolio consists of U shares of U.S. Oil and H shares of Huber Steel. The annual return for U.S. Oil is \$3 per share and the annual return for Huber Steel is \$5 per share. U.S. Oil sells for \$25 per share and Huber Steel sells for \$50 per share. The portfolio has \$80,000 to be invested. The portfolio risk index (0.50 per share of U.S. Oil and 0.25 per share for Huber Steel) has a maximum of 700. In addition, the portfolio is limted to a maximum of 1000 shares of U.S. Oil. The liner programming formulation that will maximize the total annual return of the portfolio is as follows:

Max                    3U + 5H                                                                                       Maximize total annual return

s.t.

25U +  50H less than or equal to 80,000                                        Funds available

0.50U  +   0.25D less than or equal to 700                                     Risk maximum

1U less than or equal to 1000                                                         U.S. Oil maximum

U, H greater than or equal to 0

1. Write down or copy/paste the complete problem narrative.

2. Show your Lindo model. (25 points)

3. Show your Lindo output. (25 points)

4. Answer all questions pertaining to the problem. (25 points)

5. Complete using just ONE Microsoft Word document.

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## Dan and Carla met as employees at a candy company and later married. Carla went on to study accounting and Dan earned a business degree Answer

Dan and Carla met as employees at a candy company and later married. Carla went on to study accounting and Dan earned a business degree. After working for various businesses and raising \$10,000 to open their own business one day, Dan and Carla have settled on opening a business that makes custom centerpieces that look like floral arrangements but are made entirely of chocolates, marzipan, and other candy. They want to call their business “Edible Expressions,” and they have prepared a business plan. They are now faced with the decision of what form of business organization makes the most sense: a sole proprietorship, a partnership of some sort, or incorporating in some form.

Dan and Carla both plan to do design work in the business, while hiring confectionery employees to prepare and assemble the company’s products. Carla will keep the books, and Dan will do the hiring. Carla and Dan are considering whether it makes more sense for them to co-own the business, or if one should be the owner and the other an employee. They anticipate hiring just one other employee in the beginning, and grow as demand requires. Carla’s brother and sister-in-law also want to invest in the business, but do not want to be involved in its operations. Dan and Carla also want to give their daughter, Alissa, age 12, some ownership in the business at some point.

Dan and Carla want to establish their business with a minimum of paperwork and expense, but they also want to avoid high taxation of their business profits. They want to run the business jointly, without the need for a Board of Directors or other advisory group, though they don’t mind the idea of having an annual event to honor family members who have invested in their business.

Consider the types of business organizations in this week’s reading (sole proprietorship, general partnership, limited partnership, LLP, and corporation, LLC). What are the pros and cons of each as they apply to Dan and Carla’s business goals? If Dan and Carla were operating in your state, what form of business organization appears most desirable? Why?

Which do you think is most appropriate? More importantly, WHY?