Mean, Mode, and Median


Does all statistical data have a mean, median, or mode? Why? When is the mean the best measure of central tendency? When is the median the best measure of central tendency?

The mean is an average of a set of data and in order to find the mean you would simply add the numbers together and divide by the total number of inputs that were available to find the mean of those numbers. As a homeschool teacher I have to use this to find the mean of one of the students grades by adding all of the grades together and dividing the numbers by how many assignments were done. The median is the middle number that is given within the set of data and has been organized in ascending order to give me the median of the assignments. The mode of this example would be the number that occurs more frequently in the data. Statistical data does not always have a mean, mode, or median but should have at least one of these statistical measures. Using average is the best measure of a central tendency because it depends on the set of data and whether or not it has outliner’s. Furthermore, if there are not many outliner’s mean can be a good measure but if outliner’s are present within the data median is the better measure to use because it would not skew the information based on the outliner’s data. In contrast, most statistical data has a mean, median, mode, or all three, but there are some instances in which certain calculations cannot be made or are arbitrary.

Forecasting


Introduction

In researching forecasting within a business some of the information has proven to be very helpful in determining what the future holds for the business or company. Some of the concepts this paper will cover has to deal with indexes and the different types of indexes that are involved with any type of business. With any business forecasting the future trends are important because these charts show the trends over a period of years based on the averages. All company’s have forecasting to meet the goals and objectives within the business. Rating systems can also be viewed as an index but require certain factor’s in particular rating systems. There is a variety of index’s throughout the business world some of them consist of the Dow Jones Industrial Average, the Consumer Price Index, and the Consumer Confidence Index.
Forecasting is a process in which, business’s make statements about the events where the actual outcome has typically not been observed. Business’s tend to make forecasting apart of the business because it sets out goals and objectives for them to achieve. Without forecasting the business would not have any type of goals or objectives to reach therefore, the business would not know what to predict for the upcoming years or months. Forecasting is done in a variety of ways and tells different types of information based on the business. The chosen forecasting for this project was the Winter and Summer Highs for a period of four years. Based on the information that was given the forecasting of these two items fluctuated throughout the years. Estimation of the future goals of the business would allow them to achieve success. For example, the current company that I work for right now uses forecasting to determine the amount of sales that they will do during each of the two shifts. Even though forecasting is just an estimation of the sales that they will possibly do it is a goal that they work towards. The Dow Jones Industrial Average (DJIA) is a well-publicized index that reflects the value of stock prices (Sevilla, 2007).
In reading the text about rating index’s this type of index can be considered as a type of indexing scheme. These types of rating index’s are set up for company’s to compare movies, colleges, cities, or other institutions. When consumer’s buy movies the company will rate how popular the movies are depending on the demand of the product. Movies are rated on the content of those movies and placed in the following categories: PG, PG-13, R, NC-17, or G. Rating index’s can also be used to organize places, or things based on the amount of traffic a certain place has had over the past year or compared to earlier years. This could be used to base the future’s popularity of certain places around the world. In order for a business to use the rating system indexes appropriately, the business needs to consider the information that is included in the rating as well as the reliability of the information. We encounter rating systems when various organizations rate, for example, the best cities for walking or the best “family-friendly” companies (Sevilla, 2007)..
The charts show how the time series data of indices fluctuates by decreasing and increasing steadily of the months, and years. Throughout these years the information that has been provided shows that the fluctuation over these years will more than likely continue. During the fifth and ninth months is when the summer highs were at their peak. Then in the tenth month it dropped considerably with a slight peak in month eleven and then back down at the twelve month. During the winter highs the fluctuation begins at the beginning of the year and has the highest peak during the eleventh and twelfth month. The winter highs started off with a high peak and tapered off throughout the upcoming months. Looking at the information it looks like the last two months of the year were the best time for the winter highs.
In conclusion, by looking at the market prices, trends, and forecasting business’s can set out goals, and objectives. Predictions and outcomes are different and sometimes those goals and objectives are not met. But with any business these figures are not set in stone and can be changed to meet the future trends, and market prices. Forecasting is a way to forecast or predict what the company or business will do during the year, or months. There is no guarantee that that the number’s that have been projected will be matched. Forecasting with indexes is a excellent way to make sure that demands are being met throughout the business.

References:

Sevilla, A., & Somers, K. (2007). Quantitative reasoning: Tools for today’s informed citizen (1st ed.). Emeryville, CA: Key College Publishing.

Frequency Distribution


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What is the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency? Could a frequency distribution contain qualitative data? Why? In thinking about frequency distribution which, shows various data that is divided into different classes within a business. It also divides the occurrences in each of the specific classes. These frequency distributions are used in quantitative, and qualitative data analysis within any type of business. Many of the graphs, histograms, pie charts, and bar charts can be used within the frequency distribution to keep track of how well any product or service is doing within the business. The relationship between the relative and cumulative frequency is that the relative frequency counts the total number of counts on a certain product or service. While the cumulative frequency sums up the number of counts on the product or service provided. In my opinion this would be a good tool to use because of the data that it would provide for any business. Especially to see how well a product or service is doing within that business. It is also used to see how many times a certain event would happen over the course of a certain period of time. If the data that has been collected over that period of time is quantitative then the data will be used within the frequency distribution.

SWOT ANALYSIS


In researching the strengths of developing an aqua phonics greenhouse would be to reassure consumer’s that there are researchers are on the job that are making sure the correct precautions are being taken to keep the business going. By performing natural checks to assure that the ph. levels are being watched strenuously to achieve the maximum yield, while experiencing  high production volume and would allow variations in the items or products that the business would offer to the consumer’s. Having a small business would require the owner to look into a variety of marketing channels to go through to get the business within the community. Furthermore, the owner would have to assure consumers that the produce is locally grown, and environmentally responsible for the products that they are offering to their customers. By having, a good relationship with the customer will in return send great publicity from those customers’.

Some of the weaknesses that would be included in this type of business would be the willingness for the customer to pay the price for those products, and how much are they not going to pay in regards to the competition around your business. By challenging, the business to keep the aqua phonics system balanced to get the right return on their investment, and installing heavy feeders and other production requirements to keep the production moving without failure. Furthermore, there can be major start up investment with this type of business especially when it comes to the materials, pipes, fish, and other items that may be necessary for the business to get off the ground running. By implementing a rural distribution system that will allow room to grow the business. Keeping plants secure from the hot summers is another weakness that the business will suffer if the right materials are not put in place to keep the plants from getting too much light. The business has to reassure the consumers that the produce is totally environmentally safe for the consumer. Everyone has the wonderment of whether or not the business can make money off of aqua phonics. Another weakness with this type of business would be the labor of it because once it reaches the peak of harvesting time extra hands would be necessary for production purposes.

Furthermore, the opportunities of making more healthy choices when it comes to eating the vegetables, herbs, and other items that the business will have. In providing fresh produce to the customer’s that the business relies on. This type of business will also lead to growth of gardening and provides a learning experience like nothing else. The backyard ponds and the other applications of the aqua phonics system will have to be maintained so that the maximum yield is met, along with retooling anything that pertains to keeping the product to the customer’s standards. The small business would need to implement a return for certified organic. This could be a branding opportunity for the aqua phonics greenhouse, and would be a high value niche markets for a small business to provide the organic produce to the consumer’s within the community.

Finally, the last part of the SWOT analysis is the threats that the aqua phonics business would have such as: technological obsolescence, food desirability, fashion obsolescence, green washing, an intensive livestock of variations of fish for the consumer, and competition in the greenhouse. Aquaculture industries depending on the area and location of the aqua phonics business,  by having a high value fish this means a higher development cost for the business because of the production, as with any other business the high and rising energy costs that are effecting all business. This aqua phonics business will use the shade cloth, and plastic to keep the energy costs down. By putting a timer on the aqua phonics system this allows the levels to stay the same to produce the certified organic produce. Another threat is to make sure that the aqua phonics keeps clear of those pests that like to try to take over the plant by using certified organic fertilizers on the products.  

Generic and Grand Strategies


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Generic strategies require specific skills, organizational arrangements, and resources in order for a successful implementation for the business. Starting a business requires  a lot of research, and examples along with notes. Small businesses are looking to keep the costs low but also keeping the quality of the products in tacked for the customer. Even for a aqua phonics greenhouse there is countless research materials that have to be looked at to determine if the business can survive with these types of strategies. Low cost and differentiation  are what businesses are looking for when they think about generic and grand strategies. Generic strategy models are perhaps the most prevalent conceptual approach to competitive strategy today (Porter 1980, 1985; Miles and Snow 1978; Miller 1986).

Grand strategies is a strategy that provides a basic direction for the specific strategic and functional tactics of the business. Some of the grand strategies are used so that the business can reinforce each other. These grand strategies are also called strategic thrusts companies can address quality, price of the products, and they need to value the customer’s regarding issues that they might incur. Grand strategies concentrate on increasing sales of the current products or services that they offer with the current distribution channels that they have in place for their business. If the economy or environment is unstable this would increase the risks for that business. An example of a business that uses the grand strategy would be McDonald’s. when it comes to marketing business’s will market the current products or services that they offer by changing the advertising or promotions that they offer their customer’s. With the example of McDonalds they send out coupons to all residences that offer some of their products to the consumer at a discounted price or some buy one get one free to entice the customer to come in and spend their money. Listening to the customer’s and what they want or need from your business is the key to having a successful business.

References

Miller, D. (1986) “Configurations of Strategy and Structure: Towards a Synthesis,” Strategic Management Journal, 7, pp. 233-249.

Porter, M.E. (1980) Competitive Strategy: Technologies for Analyzing Industries and Competitors. New York: Free Press.

Porter, M.E. (1985) Competitive Advantage: Creating and Sustaining Superior Performance. New York: Free Press.

Miles, R.E. and C.C. Snow (1978) Organizational Strategy, Structure and Process. New York: McGraw-Hill.

Taxable Income Paper


1362594783472

While researching the methods of cash basis versus accrual basis of accounting within The Michele Corporation to determine on which one would work better for the Corporation. By discussing the advantages and disadvantages of both methods will give The Michele Corporation a better understanding of which method would work the best for the business. In defining, the Constructive Receipt role within the corporation and how it pertains to The Michele Corporation. Cash basis and Accrual basis methods will both be considered for this corporation so that a decision about the corporations standing.
The cash method of the Michele Corporation happens when the sales are recorded when they are paid. About the only time, a business can record cash when passed through the hands of the business owner or it is an expense. Unlike the accrual basis in which the credits are recorded instead of when the cash was received. The debits of the business are owed instead of when they are paid by the company. By using, the cash accounting method simplifies the Michele Corporation, which allows the Michele Corporation to reduce the bookkeeping costs, and takes less time than the accrual method of accounting. The cash basis accounting allows the Michele Corporation to determine their current profitability by keeping the balance sheet so that the business owner can assess the information concerning the financial situation of the Michele Corporation. The Michele Corporation’s advantage to using the cash is that the corporation would not have to pay taxes on the monies that have not been received by the corporation. According to Jones R and Pendlebury (2000, p. 143), cash-based accounting is a major accounting method that recognizes revenues and expenses at the time physical cash received or paid out, and justified on the grounds that the government budgetary, and control process is an annual.
One of the disadvantages of the cash method is that for small businesses and individuals the cash flows could be restricted during certain times. This is something that would to be looked at during this research process. In the first place, the receipt of non-cash forms of payment creates revenue equal to the value of the payment (Jones, 2011). Many companies that deal with cash business from consumers the cash basis of accounting would be simply better and convenient along with reliability for the corporation. Unlike accrual basis, “income and expenses are recorded when they occur in a fiscal period instead of when the company receives or pays cash.” (Horngren, 2008. p. 687). The Michele Corporation would be able to track expenses and cash, which would not require a bookkeeper. Another disadvantage of the cash method is that if records are not kept the company may not make their payments in a timely fashion because they will not know what they have made if the transactions are not kept in order or written down in a journal or ledger. Because the cash method could be manipulated to defer income and accelerate deductions, the tax law limits its use by large corporations (Jones, 2011).
The accrual method within the Michele Corporation refers to the basic rules or guidelines that the business keeps their financial records. A corporation has to have pristine records so that all monies are accounted for within the corporation. The Michele Corporation has to decide which one of the methods would work for this situation. By understanding, both the cash and accrual methods of accounting will allow The Michele Corporation to see which one would work better for the business, Depending on the type of legal methods, the small business has to decide whether they will extend credit to customers or pay the tax on the cash that The Michele Corporation brings in.
According to generally accepted accounting principles (GAAP), only the accrual method of accounting correctly measures annual income (Jones, 2011). The accrual method within The Michele Corporation has some advantages. One of the advantages of the accrual method is that the financial information about the corporation can be recorded as the transactions occur not when the cash received from the consumer. The accrual basis method of accounting allows the corporation to prepare the financial statements so that they can view at any time to see where the financial standing is within the corporation. Furthermore, the accrual method does not take into consideration whether the corporation has paid the bills or not.
One of the disadvantages of the accrual method for accounting is that it is complicated and rather expensive for The Michele Corporation. The cost to implement and employ the accrual method for The Michele Corporation is expensive compared to the cash method in accounting. Another disadvantage in using the accrual basis method for The Michele Corporation would result in the corporation may owe taxes on the income before the corporation receives that income. With the “cash basis this is used for smaller companies when they record revenue after they receive the cash and pay out cash, that can be tremendously misleading for the financial statements” (Weygandt, 2008).
Constructive receipt is applied to an account when the income is credited to the taxpayer’s account. This means that when The Michele Corporation receives credited income allows the taxpayer to draw on the income during the taxable year. If the payment is received and not cashed or lost The Michele Corporation would still have to claim it as income because it would be a restriction composed on The Michele Corporation. Having a business requires understanding on how accounting works within the business. By having, a clear understanding the owners can see the financial standing of the corporation. If the corporation sees that there are items that need to be taken away or are not needed anymore, the corporation should dispose to reduce the cost of the corporation.
By keeping informed about the corporation’s net present value, will help to determine if the new retail store will make it. Depending on the information that is found within the research by determining the net present value of how the corporation’s financial standings are at the end of the fiscal year. This is information that must be made available to the corporation. On the cash basis records are not required but should be kept to account for the money that he or she has made.
In conclusion, the cash and accrual methods both have some advantages and disadvantages concerning business. The Michele Corporation needs to decide which methods would work better for the business. Funnell W and Cooper K (1998 pg 129), the difference between accrual basis accounting and cash basis accounting revenues and expenses are recorded. In my opinion, I would have to say that the recommendation would have to be the cash basis method because the

References

Jones, S. M., & Rhoades-Catanach, S. C. (2011). Principles of taxation for business and investment planning: 2011 edition (14th ed.). New York, NY: McGraw-Hill/Irwin.
Harrington, S. E., Niehaus, G.R. (2004). Risk and Its Management The McGraw-Hill Companies, Inc.

Jones R and Pendlebury (2000) Public sector accounting 5th edition, Pearson Education, Essex, chapter 8.
Funnell W and Cooper K (1998) Public sector accounting and accountability in Australia UNSW Press, Sydney, pp. 117-149.

Horngren, C. T. (2008). Introduction to Management Accounting (14 ed.). Upper Saddle River, NJ: Prentice Hall.
Weygandt, Jerry J., Kimmel, Paul D., & Kieso, Donald E. (2008). “Financial Accounting” (6th ed.). Hoboken, NJ: Wiley. Retrieved June 20, 2011 from eBook of University of Phoenix.

The Stresses of the Real World


While listening to the birds chirping in the background, thinking about the upcoming stresses in her life, and wondering how things will play out in the end. She wonders how she is supposed to tell her children to go to college when it has not helped her out in the least. Countless resume’s she has sent out to numerous counties, and then no one calls and she does not hear any replies to the contrary about her skills, and knowledge. Putting your education on your resume will hurt the results because many company’s think that you will not work for the rate that they are paying. It is almost as if no one wants anyone to succeed in life. People should just stand around taking the beatings of loans; bills, working every day for the rest of your life, and watching the prices of food and other items getting higher and higher. While gas prices are starting to go down everything else is on the rise.
Well in this day and time, it is hard to keep the faith that things will work out in the end. She has spent most of her life doing things for other people and making money for them by doing the job the best that she can and with nothing in return. The future does not look to promising here in this small town. If you do not know certain people, you do not get all the goodies. In order, for you to make it in a world you have to know everyone that matters. It is a win or lose situation and if you do not know the right people and have the right connections, you will not go anywhere. In this day and time, knowing the right people can get you the job that you have dreamed of and she wonders how things will look in the future.
Throughout your life you are told that you need to have an education to get that dream job what they do not tell you is that it may take quite a long time before you finally get that dream job. Some students upon graduating have accomplished obtaining their dream job, and some students are not lucky enough and have to keep searching for that job. Furthermore, statistics are against many of the graduating students this year, and in future years because of the state of the economy. Therefore, with thousands of students who are graduating and face years of paying off student loans that increase every year, you pay on them. You could pay on these loans for years to come without little relief. There literally is no way out of student loans unless you automatically become rich overnight and can pay the entire bill off. The chances and odds are against you no matter how you look at the situation.
Talking to your college counselor’s does not do any good. She called one time to seek advice about where she should look for a job, who she could contact for resume help instead of paying more money to have someone else make your resume. The thing that you have to go through in this world is amazing. Not only paying for college on a small salary but also not being able to find a decent job in this small town that does not cost an arm and a leg to get a license. This world does not have many mentors that she would consider a mentor because many people do not want others to succeed or show them up with knowledge or skills. She knows that other people are better than she is however; she is better at some things than other people are.
With more than what feels like thirty or forty years of debt piled up against her in this dwindling economy with no new jobs being put in the economy and current jobs you have to wait for someone to quit or keel over. Sometimes it makes you wonder how people still can afford to eat out, drive their car, and other things that they like to do. It is quite amazing to see how many people still do not think that anything is going to happen. They have a surprise coming to them if they think that things are not going to get worse because they are. She knows that in the end it all works out so she keeps on working to make ends meet on the little income she brings in. Writing down everything that she does throughout the day, week, months, and years from here on out allowing her to see the accomplishments that she has made over the years. The real world and reality is that now with no jobs in the economy she has to work twice as hard to make her future dreams of having her own business become a reality.
At the end of the day, she takes her shoes off and sits back to watch the children as they watch television, and talks about the day that she had. Whom she met, and whom she talked to today. Furthermore, it seems quite interesting to listen to customers, and what actions they take to manage to make it through the rough spots throughout their life. The worries of the day are over and another dollar or two earned for the day. She will wake up in the morning and do it all over again for the rest of her life or until something finally goes her way. She has a talent for writing, and enjoys spending the quiet time talking about the things that she has accomplished and whom she has talked to during the day.