EBK USING MIS
EBK USING MIS
10th Edition
ISBN: 9780134658919
Author: KROENKE
Publisher: YUZU
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Chapter 1, Problem 1.5CE1

A)

Explanation of Solution

Systems Thinking:

System thinking is a management discipline which involves identifying and understanding the components of a system and modeling the system by connecting the input and output of the components.

Importance of Systems thinking to business professionals:

  • Business people often face situati...

B)

Explanation of Solution

Systems thinking and Moore’s law:

Moore’s Law:

Moore’s Law is coined by Gordon Moore, the co-founder of Intel Corporation, which states that the since the integral circuit has been invented, the number of transistors per square inch in it has been doubled every two years. As the computers are getting exponentially faster, the cost of data processing is approaching zero.

System thinking to explain the reasons for which the farmer digs up a field of pulpwood trees:

  • In the production of paper the input are the pulpwood trees...

C)

Explanation of Solution

Systems thinking with regard to consequences of Bell’s Law, Moore’s law or Metcalf’s Law:

Bell’s Law:

Bell’s Law is coined by Gordon Bell in 1972, which states that in every decade a new computer class is formed which establishes a new industry.

  • As said by Gordon Bell digital devices will be evolved very quickly and this will enable new platforms and industries in every 10 years, one can use system thinking to deduce that currently the market is run by products of smart phones, tablets and smart watches.
  • In next 10 years new wearable technological devices with implementation of augmented reality and virtual reality may rule the market.

Moore’s Law:

Moore’s Law is coined by Gordon Moore, the co-founder of Intel Corporation, which states that the since the integral circuit has been invented, the number of transistors per square inch in it has been doubled every two years. As the computers are getting exponentially faster, the cost of data processing is approaching zero...

D)

Explanation of Solution

Jennifer’s failure to display system thinking:

  • Jenifer failed to display system thinking skills as for the firms supply chain Flextime she was unable to create a model which could have been beneficial for her to understand about the operations ...

E)

Explanation of Solution

Ways by which people can improve their system thinking skills:

Yes”, system thinking can be improved as system thinking skills are correlated with IQ which is dependent on visual and auditory skills...

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Students have asked these similar questions
Add a method called transfer () to the BankAccount class, that takes in an amount and destinationAccount as input and transfer the funds from current account to destination account. This method should return the balance of the current account after the transfer, also should check for the sufficient balance in current account before proceeding the transfer and if there is insufficient balance return an error message "Insufficient balance". Modify the BankAccount Test class, so that it calls the transfer () method and prints the balance after transfer. Make sure that the transfer() method updates the balance of both the current account and the destination account.
• Create a public method called deposit() that takes in an amount of type double as input and adds the amount to the current balance. This method should also return the updated balance. • Create another public method called withdraw() that takes in an amount of type double as input, checks if the withdrawal amount is less than the current balance, and if so, subtracts the amount from the balance. If the withdrawal amount is greater than the current balance, the method should return an error message "Insufficient balance". • Create a public method getAccountInfo() that returns the account information in the format "Account Number: xxxxx, Account Holder: John Doe, Account Type: SAVINGS/CHECKING, Balance: $xxxX.XX". • Finally, create a constructor method that takes in the account number, account holder name, initial balance and account type as input and initializes the corresponding instance variables. In the BankAccount class, make sure to use the private access modifier for the instance…
Create a BankAccount Test class that contains a main() method that instantiates an object of type BankAccount, with account number of 12345, account holder name of "John Doe", initial balance of $1000 and account type as SAVINGS . Then use the deposit() and withdraw() methods of the object to deposit $500 and withdraw $300. Finally, use the getAccountInfo() method to print the current account information. Use the getAccountInfo() method to verify that the deposit and withdrawal actions are performed correctly and that the account information is updated accordingly.
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