Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
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Chapter 14, Problem 7CRQ
How can equity theory explain why a person who receives a high salary might be dissatisfied with their pay?
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1. Sales of humanoid robots by a technology company from January 2024 to December 2025
are shown in the table below:
Time
Number sold
Month
Number sold
Time
Number sold
2024.1 51
2024.6 54
2024.11 44
2024.2 35
2024.7 52
2024.12 47
2024.3 28
2024.8 48
2025.1
2024.4 32
2024.9 42
2024.5 48
2024.10 46
(a) What can the above table of time and sales be called in forecasting?
(b) Using Naive approach, develop forecasts for 2025.1.
(c) Using 3-Month Moving Average, develop forecasts for 2025.1.
(d) Using Exponential Smoothing usinga-0.1, a-0.5, -0.9, develop
forecasts for months from 2024.1 to 2025.1. Note: The initial predicted
value is taken as the average of the first three observations.
(e) Analysing the effect of the above three predictions (-0.1, 0.5, -0.9)
by drawing a picture. What is the better value of a to predict by viewing
the picture?
2. (a) Control charts are tools used to monitor the stability of processes over time.
Explain the purpose of the following control charts, with one example for
each chart.
i) Median chart
ii) Standard deviation chart
(b) Assignable variation refers to variations in a process that can be attributed to
identifiable sources.
List two specific methods for identifying assignable variation in a
production process.
(c) A bakery is investigating the weight consistency of its bread loaves. Historically, the
process has had a standard deviation of 0.05 kg. The average weights from 20 samples,
each containing n=10 loaves, are recorded below:
Sample
Mean Weight (kg) Sample
1
0.503
Mean Weight (kg)
11
0.502
2
0.499
12
0.505
3
0.501
13
0.504
4
0.500
14
0.503
5
0.504
15
0.499
6
0.502
16
0.504
I
50,000
The following chart shows the historical spot buy price graph of nickel on the London
Metal Exchange (LME) from 1 May 2021 to 30 Nov 2022.
US$ per tonne
45,000
40,000
2/9/2021
35,000
US$19,365/ton
1/5/2021
US$17,477/ton
30,000
25,000
20,000
15,000
30/04/2021
26/05/2021
21/06/2021
14/07/2021
06/08/2021
01/09/2021
24/09/2021
19/10/2021
11/11/2021
06/12/2021
31/12/2021
26/01/2022
18/02/2022
1/5/2022
-US$32,000/ton
15/03/2022
07/04/2022
05/05/2022
30/05/2022
24/06/2022
19/07/2022
11/08/2022
2/9/2022
US$20,175/ton
06/09/2022
29/09/2022
24/10/2022
16/11/2022
Nick is the non-ferrous metals category manager (in-charge of nickel cathodes) of Better
Battery Co., a battery manufacturer. He has sourced his nickel cathode supplies from two
suppliers: Supplier A and Supplier B.
Throughout 2021, both Suppliers A and B complained of increasing nickel costs and
wanted to raise prices for the cathodes supplied to Nick's company. As Nick had a firm
fixed price contract with Suppliers A and B, he…
Chapter 14 Solutions
Principles of Management
Ch. 14.1 - Explain the two drivers of motivation: direction...Ch. 14.1 - What are the differences between content and...Ch. 14.1 - Will there ever be a grand theory of motivation?Ch. 14.2 - Do you think social responsibility to promote...Ch. 14.2 - Do you think most companies CSR programs are...Ch. 14.2 - Understand the content theories of motivation.Ch. 14.2 - Understand the contributions that Murray,...Ch. 14.3 - As a Western manager working in the Middle East or...Ch. 14.3 - What problems would you expect a manager from a...Ch. 14.3 - What regional, cultural, or ethnic issues do you...
Ch. 14.3 - Understand the process theories of motivation:...Ch. 14.3 - Describe the managerial factors managers must...Ch. 14.4 - In the article from Hear from Entrepreneurs, one...Ch. 14.4 - How is staying motivated as an entrepreneur...Ch. 14.4 - How would you expect motivation to vary across...Ch. 14.4 - Understand the modern approaches to motivation...Ch. 14 - Discuss the benefits that accrue when an...Ch. 14 - How might Maslow explain why organizational...Ch. 14 - Describe the process by which needs motivate...Ch. 14 - Discuss the importance of Herzbergs motivators and...Ch. 14 - Describe a work situation in which it would be...Ch. 14 - Discuss the potential effectiveness and...Ch. 14 - How can equity theory explain why a person who...Ch. 14 - Equity theory specifies a number of possible...Ch. 14 - What goals would be most likely to improve your...Ch. 14 - Identify two reasons why a formal goal-setting...Ch. 14 - What steps can an organization take to increase...Ch. 14 - Discuss how supervisors sometimes unintentionally...Ch. 14 - How can an employee attach high valence to high...Ch. 14 - Is there one best motivation theory? Explain your...Ch. 14 - A 2015 New York Times article described Amazon as...Ch. 14 - How do employees differ between a Walmart retail...Ch. 14 - With Amazon moving into the retail market with the...
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