Ppf and opper
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The production possibilities frontier (PPF) indicates the maximum output combinations of two goods or services an economy can achieve with full employment of available resources. It assumes resources and technology are fixed. The opportunity cost refers to the next best alternative forgone in making a choice. It provides a basis for decision making, price determination, and efficient allocation of resources by analyzing the costs of all alternatives.
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Mba205 & operations research
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Long run average cost & Short run cost
Meaning of Long run and short run average cost, Implication of average cost, Economies of scale, Diseconomies of scale
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The document discusses different types of costs involved in production:
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Mba205 winter 2017
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The document discusses cost and revenue concepts. It defines different types of costs including fixed costs, variable costs, average costs, marginal costs, total costs, sunk costs, replacement costs, and historical costs. It explains cost functions and how total cost, average cost, and marginal cost curves are derived based on changes in output. It also discusses economies of scale and the differences between internal and external economies. Finally, it provides definitions for total revenue, average revenue, and marginal revenue.
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Meaning of Long run and short run average cost, Implication of average cost, Economies of scale, Diseconomies of scale
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The document discusses different types of costs involved in production:
1) Total cost is the aggregate of all expenditures to produce a given output level. It includes total fixed cost plus total variable cost.
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- Cost-volume-profit analysis uses the long-run average cost curve to determine the output level needed to break even or achieve a target profit level.
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1. The document discusses various cost concepts including opportunity cost, outlay cost, total cost, average cost, marginal cost, fixed cost, and variable cost. It explains these concepts for both the short run and long run.
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16793 theory of_cost
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- In the short run, firms have fixed costs that do not depend on output level. They also have variable costs that vary with output. Total costs are the sum of fixed and variable costs.
- Marginal cost is the change in total cost from producing one additional unit. It reflects changes in variable costs. Marginal cost typically rises as output increases in the short run due to diminishing returns.
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The document provides an introduction to engineering economics. It defines economics and engineering economics, noting that engineering economics deals with the analysis and evaluation of factors that will affect the economic success of engineering projects. It discusses key concepts from economics used in engineering economics, such as scarcity, opportunity cost, demand and supply. It also outlines the basic guidelines for engineering economic analysis, including developing alternatives, focusing on differences among alternatives, using consistent and common units of measurement, and considering uncertainty. The document emphasizes that engineering economics is important for engineering decision-making involving questions about project priorities, designs, and economic worth.
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The document discusses several economic principles used in managerial decision making:
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2) Incremental principle - Decisions should increase revenues more than costs to be profitable. Incremental analysis examines the changes in costs and revenues of alternatives.
3) Discounting principle - Future cash flows must be discounted to their present value to accurately compare decision alternatives over time, since money has a time value.
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9/23/2019 Print
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6
© Peter Scholey/Ge�y Images
Managerial Cost Analysis and Estimation
Learning Objectives
A�er reading this chapter, you should be able to:
Dis�nguish between incremental costs and nonincremental costs for the purposes of managerial
decision making.
Iden�fy incremental revenues as dis�nct from nonincremental revenues.
Conduct contribu�on analysis in a range of decision-making scenarios, including Project A versus
Project B decisions, make-or-buy decisions, and take-it-or-leave-it decisions.
Es�mate unknown cost values for par�cular output levels using known cost data from other output
levels using extrapola�on, interpola�on, and gradient analysis techniques.
Use regression analysis to find which form of the cost func�on (linear, quadra�c, or cubic) provides the
line of best fit to the data and thus the most reliable cost es�mates for managerial decision making.
9/23/2019 Print
https://content.ashford.edu/print/AUBUS640.12.1?sections=ch06,ch06introduction,sec6.1,sec6.2,ch06summary&content=all&clientToken=8b70ed6a-… 2/19
Introduction
In this chapter, we con�nue with the general topic of cost analysis for managers and will introduce several cost es�ma�on and forecas�ng techniques that
allow managers to make profit-maximizing decisions. As we know, profit is the difference between revenues and costs, and if we can minimize costs rela�ng
to any par�cular decision that is expected to generate revenues, this will allow the decision to be profit maximizing (or loss minimizing). In this chapter, we
con�nue our focus on cost minimiza�on (for any given output and quality level) and will turn our a�en�on to the profit-maximizing issues in the following
chapter.
In the first half of this chapter, we will focus on "contribu�on analysis" whereby decisions are evaluated based on the financial contribu�on they make to
the firm’s overheads and profits a�er covering the variable costs associated with those decisions. Contribu�on analysis allows managers to make choices
among compe�ng alterna�ves—their decision choices—such that the alterna�ve chosen is the one that contributes most to the firm’s overheads and profits.
Thus, contribu�on analysis is concerned with accurately es�ma�ng the incremental costs and incremental revenues of each decision alterna�ve such that
the best (profit-maximizing) op�on can be chosen.
In the second half of this chapter, we will explore the es�ma�on of cost curves. We begin with some simple techniques and con�nue on to apply the
regression analysis technique that was introduced in Chapter 4. Es�ma�ng cost values for the current period involves collec�ng at least one data point on
total variable costs (TVC) or average variable costs (AVC) or marginal costs (MC) from the current or past periods and methodically projec�ng that/those
values forward .
Unit i introduction to engineering economics
1. Engineering economics involves analyzing alternatives and making decisions to obtain the best monetary return. It considers factors like costs, benefits, risks, and time value of money.
2. Cost components include fixed costs, variable costs, marginal costs, and opportunity costs. Break-even analysis determines the sales volume needed to recover total costs.
3. Material, design, and process selection are important economic decisions in manufacturing. The most cost-effective options are chosen while meeting requirements.
COST-BENEFIT ANALYSIS (2010)-1.ppt
This document provides information on cost-benefit analysis (CBA) and how it can be used to evaluate the economic feasibility of projects. It discusses how CBA works by quantifying and comparing the costs and benefits of a project in monetary terms. A key decision criterion is the benefit-cost ratio (BCR), where a project is acceptable if BCR is greater than 1. The document also outlines limitations of CBA and challenges in applying it to social projects due to difficulties in valuation of certain costs and benefits.
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2) To identify potential risks in the budget by measuring the margin of safety and calculating the effect of changes in variable costs, prices, and fixed costs on profit.
3) Marginal cost is the change in total cost from producing one additional unit of a good or service. It includes any additional costs required to produce the next unit.
Transfer and peak load pricing technique
Transfer pricing refers to the pricing of goods and services transferred between divisions of the same company. It aims to maximize total company profits rather than divisional profits. Peak load pricing sets higher prices during times of peak demand to encourage shifting demand to off-peak periods, reducing the need for additional production capacity. It benefits capacity usage but incurs costs of installing time-sensitive meters and may require shifting consumer behavior.
Lrac good ppt gp
The document discusses key concepts related to long-run average cost curves including:
- In the long-run, all factors of production are variable and firms can choose different plant sizes. The long-run average cost curve is U-shaped and envelopes short-run average cost curves.
- The long-run marginal cost curve is derived from the intersection of short-run marginal cost curves and the long-run average cost curve.
- Cost-volume-profit analysis uses the long-run average cost curve to determine the output level needed to break even or achieve a target profit level.
- Economies of scale exist when long-run average costs fall as output increases due to factors like financial, technical
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The document discusses concepts related to long-run total cost curves. It begins by defining the long-run total cost curve and noting that it will always be zero when quantity is zero. An example production function and cost-minimizing inputs are provided. It then derives the total cost function and shows it is a straight line if wages and capital rental rates are given. The effects of changes in input prices on total cost and cost curves are examined. Long-run average and marginal costs are defined as the slope of rays from the origin and tangents to the total cost curve, respectively. Several examples and queries about total cost, average cost, and marginal cost are provided and answered. The concepts of economies of scale, minimum efficient scale
3 cost curves
This document discusses short-run and long-run cost curves. It defines total, fixed, variable, average, and marginal costs for short-run cost functions. It then explains that the long-run average cost curve shows the minimum average cost for different output levels using different plant sizes. Finally, it discusses the relationship between long-run and short-run average cost curves, and how internal and external economies and diseconomies of scale can impact costs.
9 costs class
This document discusses key concepts related to business costs including:
1. It defines economic costs, accounting costs, and sunk costs.
2. It explains the differences between short-run and long-run costs, and how total, average, and marginal costs are calculated in each time period.
3. It provides examples of cost schedules and diagrams cost curves, discussing their characteristics and relationships.
Theory of cost
The document discusses the concept of cost and various types of costs from the perspective of the theory of cost. It defines cost and explains opportunity cost versus actual cost. It then outlines 10 main types of costs including direct vs indirect costs, fixed vs variable costs, sunk vs incremental costs, and historical vs replacement costs. The document also discusses cost functions and how factors like output, scale, input prices, and technology influence the cost-output relationship in the short-run. Graphs and examples are provided to illustrate short-run total, average and marginal costs.
Difference between short run and long run
short run and long run
Short Run 1: a period of time that is not long enough to allow change to certain economic conditions that a decision maker may face.
Long Run 1: a period of time long enough for all important information and choices to be available to a decision maker
CONCEPTS OF COST
Cost refers to the total expenditure incurred by a producer to produce a given level of output. It includes explicit costs, which are cash payments to factors of production, and implicit costs, which are imputed costs of self-owned resources. Total cost is the sum of fixed costs, which do not vary with output, and variable costs, which do vary with output. Marginal cost is the change in total cost from producing one additional unit of output. It is U-shaped, initially decreasing and then increasing, reflecting the law of variable proportions. Average cost is total cost divided by output and is the sum of average fixed cost and average variable cost.
Costs and revenues
This document provides an overview of key cost and revenue concepts for businesses. It defines accounting costs, opportunity costs, fixed costs, variable costs, average costs, marginal costs, sunk costs, total revenue, average revenue and marginal revenue. It explains how these concepts are used in business decision making and their relationships through diagrams of cost and revenue curves.
Cost and cost concepts (Engineering Economics and Management)
This document discusses cost concepts and break even analysis. It defines different types of costs such as fixed costs, variable costs, total costs, average costs and marginal costs. It then provides an example break even analysis of GM Motors, noting their total fixed costs, variable costs and average revenue. It summarizes GM's early history and founding, their current revenues, employee numbers and projected break even point. Finally, it outlines some of GM's marketing strategies used to target different customer segments.
Long run average total costs Chapter 22
This document discusses long-run average costs. It explains that in the long-run, all costs are variable. It describes diminishing returns to increasing quantities of capital and labor. The long-run average total cost curve shows the lowest attainable average cost for different output levels when plant size and labor are varied. Economies of scale occur when a percentage increase in output exceeds a percentage increase in inputs, leading to falling long-run average costs. Diseconomies of scale arise from management complexity at large scales, causing long-run average costs to rise. Constant returns to scale yield a horizontal long-run average cost curve. Minimum efficient scale is the smallest output where long-run average cost is lowest.
Managerial Economics Cost PPT
1. The document discusses various cost concepts including opportunity cost, outlay cost, total cost, average cost, marginal cost, fixed cost, and variable cost. It explains these concepts for both the short run and long run.
2. In the short run, total cost is the sum of total fixed cost and total variable cost. Average cost and marginal cost are calculated based on changes in total cost and output.
3. In the long run, all inputs are variable and firms can change the size of their plant and operations. Long run average cost is determined by the minimum points of a series of short run average cost curves.
Accounting for the non accountant - unit 6
CVP (Cost Volume Profit) analysis serves several purposes for management: to provide information for routine planning and one-off decision making, such as determining the volume needed to break even at a given sales price. CVP also identifies potential risks in the budget by measuring the margin of safety and calculating the effect of changes in variable costs, prices, and fixed costs on profit. Marginal cost is the cost of producing one additional unit and is included in total cost at each production level. For example, if a car has a marginal cost of £1000 and sells for £8000, the contribution per unit is £7000. Break-even point is calculated as total fixed costs divided by the contribution per unit and indicates the volume needed
Long Run Cost Function
In the long-run a firm can amend its size and organization to violate demand conditions. In other words, in the long-run the firm can adjust its scale of operations or size of plant to produce any required output in the most efficient way. Thus, in the long run fixed factors can be altered. Management can be restructured to run a firm of a different size. Capital can also be used differently. In short, all factors are variable in the long run and therefore the scale of operations can be altered
16793 theory of_cost
The price of the firm's output is not a determinant of the firm's cost functions. The cost functions are determined by factors of production like labor, capital, technology etc. and not by the price that the firm can charge for its output.
Short-Run Costs and Output Decisions
- In the short run, firms have fixed costs that do not depend on output level. They also have variable costs that vary with output. Total costs are the sum of fixed and variable costs.
- Marginal cost is the change in total cost from producing one additional unit. It reflects changes in variable costs. Marginal cost typically rises as output increases in the short run due to diminishing returns.
- A profit-maximizing firm will produce the quantity where marginal revenue equals marginal cost. In perfect competition, this occurs where price equals marginal cost.
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Cost and cost concepts (Engineering Economics and Management)
Cost and cost concepts (Engineering Economics and Management)
Similar to Ppf and opper
Lesson1
The document provides an introduction to engineering economics. It defines economics and engineering economics, noting that engineering economics deals with the analysis and evaluation of factors that will affect the economic success of engineering projects. It discusses key concepts from economics used in engineering economics, such as scarcity, opportunity cost, demand and supply. It also outlines the basic guidelines for engineering economic analysis, including developing alternatives, focusing on differences among alternatives, using consistent and common units of measurement, and considering uncertainty. The document emphasizes that engineering economics is important for engineering decision-making involving questions about project priorities, designs, and economic worth.
Unit 4th me
The document discusses several economic principles used in managerial decision making:
1) Opportunity cost principle - The cost of any decision is the next best alternative forgone. Managers must consider sacrificed alternatives, not just monetary costs.
2) Incremental principle - Decisions should increase revenues more than costs to be profitable. Incremental analysis examines the changes in costs and revenues of alternatives.
3) Discounting principle - Future cash flows must be discounted to their present value to accurately compare decision alternatives over time, since money has a time value.
9232019 Printhttpscontent.ashford.eduprintAUBUS640..docx
9/23/2019 Print
https://content.ashford.edu/print/AUBUS640.12.1?sections=ch06,ch06introduction,sec6.1,sec6.2,ch06summary&content=all&clientToken=8b70ed6a-… 1/19
6
© Peter Scholey/Ge�y Images
Managerial Cost Analysis and Estimation
Learning Objectives
A�er reading this chapter, you should be able to:
Dis�nguish between incremental costs and nonincremental costs for the purposes of managerial
decision making.
Iden�fy incremental revenues as dis�nct from nonincremental revenues.
Conduct contribu�on analysis in a range of decision-making scenarios, including Project A versus
Project B decisions, make-or-buy decisions, and take-it-or-leave-it decisions.
Es�mate unknown cost values for par�cular output levels using known cost data from other output
levels using extrapola�on, interpola�on, and gradient analysis techniques.
Use regression analysis to find which form of the cost func�on (linear, quadra�c, or cubic) provides the
line of best fit to the data and thus the most reliable cost es�mates for managerial decision making.
9/23/2019 Print
https://content.ashford.edu/print/AUBUS640.12.1?sections=ch06,ch06introduction,sec6.1,sec6.2,ch06summary&content=all&clientToken=8b70ed6a-… 2/19
Introduction
In this chapter, we con�nue with the general topic of cost analysis for managers and will introduce several cost es�ma�on and forecas�ng techniques that
allow managers to make profit-maximizing decisions. As we know, profit is the difference between revenues and costs, and if we can minimize costs rela�ng
to any par�cular decision that is expected to generate revenues, this will allow the decision to be profit maximizing (or loss minimizing). In this chapter, we
con�nue our focus on cost minimiza�on (for any given output and quality level) and will turn our a�en�on to the profit-maximizing issues in the following
chapter.
In the first half of this chapter, we will focus on "contribu�on analysis" whereby decisions are evaluated based on the financial contribu�on they make to
the firm’s overheads and profits a�er covering the variable costs associated with those decisions. Contribu�on analysis allows managers to make choices
among compe�ng alterna�ves—their decision choices—such that the alterna�ve chosen is the one that contributes most to the firm’s overheads and profits.
Thus, contribu�on analysis is concerned with accurately es�ma�ng the incremental costs and incremental revenues of each decision alterna�ve such that
the best (profit-maximizing) op�on can be chosen.
In the second half of this chapter, we will explore the es�ma�on of cost curves. We begin with some simple techniques and con�nue on to apply the
regression analysis technique that was introduced in Chapter 4. Es�ma�ng cost values for the current period involves collec�ng at least one data point on
total variable costs (TVC) or average variable costs (AVC) or marginal costs (MC) from the current or past periods and methodically projec�ng that/those
values forward .
Unit i introduction to engineering economics
1. Engineering economics involves analyzing alternatives and making decisions to obtain the best monetary return. It considers factors like costs, benefits, risks, and time value of money.
2. Cost components include fixed costs, variable costs, marginal costs, and opportunity costs. Break-even analysis determines the sales volume needed to recover total costs.
3. Material, design, and process selection are important economic decisions in manufacturing. The most cost-effective options are chosen while meeting requirements.
COST-BENEFIT ANALYSIS (2010)-1.ppt
This document provides information on cost-benefit analysis (CBA) and how it can be used to evaluate the economic feasibility of projects. It discusses how CBA works by quantifying and comparing the costs and benefits of a project in monetary terms. A key decision criterion is the benefit-cost ratio (BCR), where a project is acceptable if BCR is greater than 1. The document also outlines limitations of CBA and challenges in applying it to social projects due to difficulties in valuation of certain costs and benefits.
costanalysis.pptx
The document provides an overview of price and cost analysis processes. It defines price analysis as examining a proposed price without evaluating separate cost elements, to determine if the price is fair and reasonable. Cost analysis evaluates separate cost elements and proposed profit to determine cost and price reasonableness, cost realism, and most probable cost. Cost analysis requires more time and resources than price analysis.
5.2 unit pricing
This document discusses unit pricing in construction estimating. It explains that unit pricing involves determining the cost to produce, deliver, install, and maintain each construction unit or component. It discusses determining costs for materials, labor, and equipment. For materials, reliable sources for unit prices are supplier quotes. For labor, the estimator must determine wage rates and crew productivity. Equipment costs include ownership/rental and operating costs. Experience is important for estimating labor productivity and equipment needs. The overall goal is to accurately predict costs at the time of construction.
Cost Reduction Strategies:Focus and Techniques
This is a highly concentrated presentation that addresses the differences among price, cost, and TCO; what cost reduction strategies to focus on; and an overview of various techniques, as well as when and where to use them. Faced with excruciating competitive pressures, many senior C-Level executives require maximum effort from every part of their organization to survive. Today, purchasing, acquisition, procurement, contracting, and supply management professionals must be the most progressive cost reduction oriented group in the company.
For many organizations, senior C-Level executives set forth annual purchasing, acquisition, procurement, contracting, and supply management goals that mandate cost reductions. Regardless of the cost savings, avoidances, or containments achieved previously, you are faced with new cost reduction initiatives and objectives.
To make the goal of cost reduction a reality, we cannot focus solely on the price. We must examine the total cost of ownership to your organization, which means moving beyond the organizational environs to include suppliers, internal customers, other allied business functional entities, and external customers. By working both internally and externally with these stakeholders, cost reduction opportunities will become visible.
A typical purchasing, acquisition, procurement, contracting, or supply management professional will help reduce supplier prices and avoid incremental costs. A good purchasing, acquisition, procurement, contracting, or supply management professional will reduce costs by lowering both costs of acquisition and risks of supply. A great purchasing, acquisition, procurement, contracting, or supply management professional will reduce total costs across the board, increase service levels to the internal customer, make a significant contribution to the bottom line, seek value-added opportunities, and help to delight the organization’s customer. This type of professional also balances supply related costs and cycle time for the lowest overall cost, at the best value, while seeking risk optimization rather than risk minimization strategies.
Conjoint analysis
Conjoint analysis is a market research technique used to understand customers' preferences for different product features. It involves assessing customers' ratings, rankings, or choices between hypothetical products defined by various attribute levels to estimate the value or "part-worth" that customers place on each attribute level. This helps companies design products with optimal combinations of features to satisfy customers. The method originated in psychology in the 1970s and uses computer surveys to consider many attributes and levels simultaneously, simulating real purchase decisions involving trade-offs between features.
Conjoint Analysis.pptx
Conjoint analysis is a market research technique used to understand customers' preferences for different product features. It involves assessing customers' ratings, rankings, or choices between hypothetical products defined by various attribute levels to estimate the value or "part-worth" that customers place on each attribute level. This helps companies design products with optimal combinations of features to satisfy customers. The method originated in psychology in the 1970s and uses computer surveys to consider many attributes and levels simultaneously, simulating real purchase decisions.
Chapter 16 Lean Accounting, Target Costing, And The Balanced Scorecard
The document discusses key concepts of lean manufacturing including value streams, eliminating waste, and just-in-time production. It defines value streams as the processes used to deliver products to customers. The main goals of lean are to precisely define value, identify value streams, ensure value flows without interruption, and pursue perfection. Key aspects of lean include reducing setup times, using cellular manufacturing, and producing only to demand through pull systems.
UNIT – I.ppt
This document provides an introduction to economics. It defines economics as the study of how limited resources are used to satisfy unlimited human wants. The objectives of economics are outlined as a high level of employment, price stability, efficiency, an equitable distribution of income, and growth. The flow of goods, services, resources and money payments in a simple economy is described involving households, business firms, and the payments between them. The law of supply and demand and the factors influencing supply and demand are explained. Engineering economics is introduced as analyzing alternatives within a project to compare monetary returns. The concepts of cost, revenue, profit, break even analysis, and margin of safety are defined in the context of economics.
Economy.pptx
This document provides an introduction to economics. It defines economics as the study of how limited resources are used to satisfy unlimited human wants. The objectives of economics are outlined as a high level of employment, price stability, efficiency, and an equitable distribution of income and growth. It then discusses the flow of goods, services, resources and money payments in a simple economy between households and business firms. Key economic concepts are introduced such as the law of supply and demand, factors influencing demand and supply, and break even analysis. Engineering economics is defined and its scope and tools such as cost analysis, contribution ratio, and break even charts are explained.
Unit i introduction to engineering economics.
This document provides an introduction to economics. It defines economics as the study of how limited resources are used to satisfy unlimited human wants. The objectives of economics are outlined as achieving a high level of employment, price stability, an equitable distribution of income, and economic growth. The basic flow of goods, services, resources and money payments between households and business firms in a simple economy is described. Key economic concepts like demand, supply, and the laws of supply and demand are introduced. Factors influencing demand and supply are also discussed. Engineering economics and its scope and procedures are defined. Cost elements, pricing of products, and other cost and revenue concepts are covered. Break even analysis and charts are explained. Material selection and process planning for manufacturing
MANAGERIAL ECONOMICS FIVE TOOLS
This document discusses tools of analysis in managerial economics. It provides examples and explanations of 5 key tools:
1. Opportunity cost, which represents the benefits forgone from pursuing one alternative over another. It helps determine prices, factor payments, and resource allocation.
2. Marginal/incremental analysis, which involves comparing changes in total costs and revenues of decisions. A decision is profitable if it increases revenues more than costs.
3. Discounting principle, which holds that money received in the future is less valuable than money received today due to uncertainty and opportunity cost of investment.
4. Equi-marginal principle, which states resources should be allocated so that marginal productivity gains are equal across uses, maximizing
The International Journal of Engineering and Science (The IJES)
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
The papers for publication in The International Journal of Engineering& Science are selected through rigorous peer reviews to ensure originality, timeliness, relevance, and readability.
What is feasibility study and what is contracts and its type
Feasibility and its type
Operational , economical and technical
Contract and its type
Fixed price and cost reimbursement contract
Opportunity cost using production possibility curve
This document discusses opportunity cost using a production possibility curve (PPC). It defines a PPC as a graphical representation of the combinations of two goods or services an economy can produce using all available resources. The production possibility frontier (PPF) shows the maximum output combinations. Opportunity cost is defined as the next best alternative forgone when choosing between limited options. The PPC demonstrates that points on the curve represent efficient resource use, while inside the curve is inefficient and outside is unattainable. The document also discusses increasing, constant, and decreasing opportunity costs based on the PPC shape and how PPCs can be applied at micro and macroeconomic levels.
Swati cost analysis rm
The document discusses cost analysis of research projects. It outlines various cost components including raw materials, procedures, instrumentation, and clinical trials. It defines key cost terms and describes techniques for cost analysis. The major costs in a research project are raw materials, equipment, procedures to be followed, instrumentation required, and clinical trials. Effective cost management is important for project planning and resource allocation.
bp case study
The document discusses developing a strategic sourcing plan for oil country tubular goods (OCTG) suppliers for BP. It outlines key factors to consider like customer requirements, supplier capabilities, and cost effectiveness. It also discusses the benefits of single versus multiple sourcing, criteria for evaluating suppliers, developing strategic supplier relationships, and managing suppliers that do not meet standards. The document provides a detailed analysis of sourcing strategies and supplier evaluation methods to help BP develop an optimal sourcing plan for OCTG suppliers.
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9232019 Printhttpscontent.ashford.eduprintAUBUS640..docx
9232019 Printhttpscontent.ashford.eduprintAUBUS640..docx
Chapter 16 Lean Accounting, Target Costing, And The Balanced Scorecard
Chapter 16 Lean Accounting, Target Costing, And The Balanced Scorecard
The International Journal of Engineering and Science (The IJES)
The International Journal of Engineering and Science (The IJES)
What is feasibility study and what is contracts and its type
What is feasibility study and what is contracts and its type
Opportunity cost using production possibility curve
Opportunity cost using production possibility curve
More from Pandidurai P
Rank correlation problem
The document provides statistical calculations for a data set with 6 samples. It lists the sums of x, y, xy, x^2 and y^2 as well as the result of dividing 2868 by 5413.27 which equals 0.529809.
Linear regression
Regression analysis determines the average relationship between variables, with one variable (independent) being used to predict another (dependent). For example, the amount of rain (independent) can be used to predict agricultural output (dependent, positive relationship), while price (independent) inversely impacts demand (dependent, negative relationship). Regression equations can be calculated from data to model these relationships between independent and dependent variables.
Correlation problem
Karl Pearson developed two methods for calculating the coefficient of correlation between two variables X and Y from sample data. The document provides the values for two variables X and Y but does not explain the methods or show the calculations to find the coefficient of correlation.
Correlation (theory)
Positive correlations exist between taller people and larger shoe sizes, more savings and greater financial security, and higher temperatures and increased ice cream sales. Negative correlations are seen between more absences and lower grades, colder weather and decreased air conditioning costs, and slower speeds and increased travel time. An example analyzes the highway accident relationship between motor speed and number of accidents, finding that increased speed correlates with more accidents, demonstrating how a correlation chart depicts the connection between variables.
Time series
Time series data is a series of data points indexed (or listed or graphed) in time order. Examples of time series data include stock prices over several years, daily temperature readings, or monthly sales figures. Time series data allows analysis of changes, trends, seasonality and other patterns in the data over time.
Semi average method
This document describes the method of semi-averages for measuring secular trends in data. The method involves dividing the data into two equal halves and calculating the arithmetic mean of each half. While simple to understand and apply, the method assumes a straight line relationship between data points and the trend line may change with additional data. The method is explained for both even and odd datasets.
Ratio to trend
The ratio of the current price of a stock to its moving average price over a period of time is used to determine if the stock is overbought or oversold. A ratio over 1 means the stock is trading above its trend and could be overbought, while a ratio under 1 means it is trading below its trend and may be oversold. Traders watch the ratio to trend to help identify potential buy or sell opportunities based on the stock moving back in line with its trend.
Ratio to moving average method
The ratio to moving average method is the most widely used method of measuring seasonal variations. It calculates seasonal variations by taking the ratio of current sales to the moving average of sales for the same period over several previous years. This method helps identify seasonal patterns by comparing current sales activity to historical averages for the same time period.
Moving average method
The moving average method calculates averages for subsets of data over a period of time to smooth out short-term fluctuations and highlight longer-term trends or cycles. For example, a two-year moving average is calculated by finding the average of years 1 and 2, then the average of years 2 and 3, and the average of years 3 and 4. Moving averages are typically plotted to visualize trends over time.
Least square method
The document discusses the least squares method, which is a statistical technique for finding the best-fitting linear regression line for a set of data points by minimizing the sum of the squared residuals, or offsets of the data points from the line. It provides the formulas for calculating the slope (b) and y-intercept (a) of the regression line, and applies the method to fit trend lines to sample sales data for TVs and air conditioners from 2007 to 2012, predicting future sales for 2015.
Method of simple averages
The document describes the method of simple averages to measure seasonal variations. It outlines the procedure which involves arranging data by time period like months or quarters. The sums for each period are calculated and averages found. A grand average is determined. Seasonal indices are computed by dividing the average of each period by the grand average. Examples are given for calculating indices using monthly or quarterly data.
Sampling
This document describes different sampling methods used in research:
- Simple random sampling involves randomly selecting participants from the entire population so that everyone has an equal chance of selection.
- Systematic sampling lists the population numerically and selects participants at regular intervals, like every 10th person.
- Stratified sampling divides the population into subgroups or "strata" based on characteristics and randomly selects participants proportionally from each subgroup.
- Cluster sampling divides the population into subgroups with similar characteristics and randomly selects entire subgroups rather than individuals.
- Convenience sampling and voluntary response sampling involve selecting easily accessible participants, but results may not be generalizable to the entire population.
- Snowball sampling recruits participants through other participants when the full population is
Report Writing
A research report summarizes research that has been conducted. It typically includes three main parts: an introduction describing the background and objectives of the research, a central part detailing the methodology, findings, and conclusions of the research, and an appendix including additional supporting materials. A good research report structure clearly outlines the objectives, methodology, analysis, findings, and conclusions of the research work.
Report writing
A research report summarizes research that has been conducted. It typically includes three main parts: an introduction describing the background and objectives of the research, a central part detailing the methodology, findings, and conclusions of the research, and an appendix including additional supporting materials. A good research report structure clearly outlines the objectives, methodology, analysis, findings, and conclusions of the research work.
Principles of a good research report
A good research report should be selective yet comprehensive, including all necessary details while excluding common knowledge. It must be accurate, objective, clear and simple without bias or ambiguities. The report should also be reliable, attractive, and prepared within budget constraints using proper language tailored to the target audience.
Primary data vs second Data
The document discusses three primary methods for collecting data: surveys, observation, and experimentation. Surveys involve asking questions of a sample group and recording their answers. Observation gathers information through direct observation without questioning respondents. Experiments are conducted in a controlled laboratory environment to study causes and effects.
Primary and secondary
The document discusses primary and secondary data. Primary data is original data collected directly by the researcher through methods like surveys, interviews, questionnaires. Secondary data is data originally collected by someone else through sources like publications, websites, government records. The advantages of primary data are it is specific to the researcher's needs and accurate, while it is time-consuming and expensive to collect. Secondary data is easily accessible and affordable but may be outdated or unreliable.
Precautions for writing research reports
This document provides precautions and guidelines for writing effective research reports. It recommends that reports be long enough to cover the topic but concise to maintain reader interest. Technical jargon and abstract terms should be avoided, using simple clear language instead. The layout and structure of the report must support the research objectives. It should contribute new knowledge, show original solutions, and include proper citations, formatting, and a bibliography.
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Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
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二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
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◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
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1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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Fabular Frames and the Four Ratio Problem
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
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Economic Risk Factor Update: June 2024 [SlideShare]
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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- 2. Production possibilities frontier Definition Production possibilities frontier (PPF), also known as production possibility curve, indicates the maximum output combinations of two goods or services an economy can achieve by fully using all available resources efficiently.
- 3. In business, the Production Possibility Curve (PPC) is applied to evaluate the performance of a manufacturing system when two commodities are manufactured together
- 4. Assumptions: • Full employment • Fixed resources • Fixed technology ( No Change in Tech..) • Two goods only produce
- 5. production possibility curve Table Army Truck 12 10 6 CAR 0 1 2
- 7. Opportunity cost Definition Opportunity cost refers to the value of the other choice sacrificed while choosing a better or suitable alternative. It is also termed as alternative cost.
- 8. Examples of Opportunity Cost 1. Someone gives up going to see a movie to study for a test in order to get a good grade. The opportunity cost is the cost of the movie and the enjoyment of seeing it. 2. The opportunity cost of taking a vacation instead of spending the money on a new car is not getting a new car.
- 9. SIGNIFICANCE OF OPPORTUNITY COST
- 10. Significance of Opportunity Cost 1. Base for Decision Making: Opportunity cost provides support for making an appropriate choice while selecting one out of many available alternatives. 2. Price Determination: Based on the expenses incurred in the procurement of any goods or services along with the cost which may have been committed to acquiring alternative options, the price of the products or services is determined.
- 11. Significance of Opportunity Cost 3. Efficient Resource Allocation: It helps in investing the resources in the right opportunity by analyzing the opportunity cost of all the alternatives. 4. Remuneration Decisions: In organizations, it played a crucial role in determining the expected value an employee would create for the organization. It is acquired after his/her comparison to the other alternatives available, and thus, personnel remuneration is considered accordingly.