April 2010 ‘The problems of Monte Carlo Simulation’ by David Nawrocki This article describes the problems associated with using the Monte Carlo Simulation Model as a tool for determining future investment outcomes for investors. The tool is widely used by Financial Advisors as a means of showing investors future returns on investments. The article discusses why the use of Monte Carlo Simulation in financial planning is difficult and can lead to incorrect decisions which can have a detrimental
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Critically Questions: 1. When BMW closes down a plant for alterations it incurs the direct cost of those alterations‚ but there is also an indirect opportunity cost. If BMW closes down the plant then that means the plant is not producing automobiles which could be sold. Therefore‚ BMW’s opportunity cost is the profits that it could have earned by operating the plant. BMW incurs direct and indirect costs from shutting down the plant. However‚ BMW also receives benefits from shutting down the plant:
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important because: A) resource prices are a major determinant of money incomes. B) resource prices allocate scarce resources among alternative uses. C) resource prices‚ along with resource productivity‚ are important to firms in minimizing their costs. D) of all of the above reasons. Answer: D 2. Which of the following statements best illustrates the concept of derived demand? A) As income goes up the demand for farm products will increase by a smaller relative amount. B) A decline
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different ads aim to achieve in the people that they target. From the 15 appeals by ‘Jib Fowles’‚ there is need for sex‚ need for affiliation‚ need to nurture among any others. These appeal to different issues and needs from society. The Yamaha curve ad is presented in a 1900 environment and it’s a motorbike standing majestically on the open road. The ad appeals to the need to achieve for individuals. The need to achieve appeals to the desire to achieve something difficult and is usually considered
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Date: 14 June 2015 Name: Tresa JellisonTresa JellisonTresa Jellison Email: tjellison38@yahoo.comtjellison38@yahoo.comtjellison38@yahoo.com Course: MKT/571MKT/571MKT/571 Instructor: Luis AmelinckxLuis AmelinckxLuis Amlelinckx SIMULATION TITLE: The Marketing Environment SIMULATION DESCRIPTION: Gerlach Publishing is a small publisher that exclusively publishes textbooks used in Colorado public schools. The Marketing Director at Gerlach is responsible for researching and monitoring the company\’s macroenvironment
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Introduction: The simulation developed a knowledge of pricing by managing a rental car operation in Florida and developing a pricing strategy keeping the competitor in mind. The simulation involved three regions Oriando‚ Tampa and Miami‚ which vary in market dynamics‚ size and customers. The focus is competition between two car rental companies and the simulation last up to 12 months. I had to set weekday and weekend price for the entire three regions for each month and make a fleet decision. Description:
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I volunteered to be an observer for the Everest Simulation‚ and I learned a lot by observing participants interact with one another. As I walked around each group‚ I quickly realized that I wasn’t going to learn as much about the simulation by observing each group; I had to focus on one team and observe their work. As a result‚ I watched one team and learned many important management skills‚ such as leadership‚ planning and controlling‚ setting team and individual goals‚ and communication. The
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wants to use Excel to determine the appropriate cutoff points for her grading curve. Generally‚ she wants to set the cutoff points so that the following distribution of grades is observed in the student body: F 5% D 10% C 35% B 35% A 15% Professor Reynolds has five possible grading curves. For example‚ in Grading Curve 1‚ she will assign As to test scores from 80 to 100. She wants you to evaluate each grading curve scenario and determine which one results in a distribution of grades closest
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Principle 10 of Mankiw and Taylor’s Ten Principles of Economics: The Phillips curve shows the relationship between unemployment and inflation in an economy. Unemployment involves people who are registered as able‚ available and willing to work at the going wage rate but who cannot find work despite actively searching for work. Unemployment can be counted by using the claimant count which includes all those who are unemployed and actually claiming benefit in the form of Jobseekers Allowance
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Microeconomics Topic 6: “Be able to explain and calculate average and marginal cost to make production decisions.” Reference: Gregory Mankiw’s Principles of Microeconomics‚ 2nd edition‚ Chapter 13. Long-Run versus Short-Run In order to understand average cost and marginal cost‚ it is first necessary to understand the distinction between the “long run” and the “short run.” Short run: a period of time during which one or more of a firm’s inputs cannot be changed. Long run: a period of time during which
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