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Idlewood Production Company would like to purchase a production machine for $450,000. The machine is expected to have a life of four years, and a salvage value of $50,000. Annual maintenance costs will total $12,500. Annual savings are predicted to be $175,000. The company’s required rate of return is 12 percent. (12marks)

?

Factors: Present Value of $1

Factors: Present Value of an Annuity

(r = 12%)

(r = 12%)

Year 0

1.0000

Year 1

0.8929

Year 1

0.8929

Year 2

0.7972

Year 2

1.6901

Year 3

0.7118

Year 3

2.4018

Year 4

0.6355

Year 4

3.0373

Required:

  1. Calculate the net present value of this investment (ignore income taxes). Round all calculations to the nearest dollar.

  1. Based on your answer in requirement (a), should Idlewood purchase the production machine?

 
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Selection Decision Making: You are designing a selection decision making process for your organisation. Your chief executive officer (CEO) has asked for an update on your recommended approach to selection decision making for your organisation’s upcoming graduate selection process. You will attract 500 applicants and will select 50 job candidates. Write an email to the CEO outlining your recommended selection decision making strategy. Outline what judgemental and mechanical means in relation to selection decision making, and what research recommends on collecting information and making selection decisions. Finally, outline which method for selection decision making you will recommend for this graduate selection process and why.
 
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Explain any four types of statistical analysis and their underlying statistical concepts, and describe how each of them has a unique role in the data analysis process.

Distinguish a nonprobability from a probability sampling method. Which one is the preferable method and why? Indicate the pros and cons associated with probability and nonprobability sampling methods.

Is it ethical for retailers to use video cameras in their stores to study the behavior of their customers? Discuss.

Your business has started using a new market research company that charges roughly 30% lower than the more established company you were using in the past. The research results appear to be markedly different from previous surveys. When questioned, the market research company tells you to not worry and suspects that they are probably “unintentional respondent errors” caused by “fieldworker errors.” What control mechanisms should have been used by the market research company.

Acme Refrigerant Reclamation Company performs large-scale reclamation of contaminated refrigerants as mandated by the U.S. Environmental Protection Agency. It wishes to determine what types of companies will use this service, so the marketing director designs a questionnaire intended for telephone administration. Respondents will be plant engineers, safety engineers, or directors of major companies throughout the United States. Should Acme use a professional field data collection company to gather the data? Why or why not?

Marketing research has traditionally been associated with consumer goods. Today an increasing number of non-profit organisations (e.g. charities and government departments) are using marketing research. Why do you think this is the case?

 
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Entrepreneurial spirit — this is something that you might have seen in a lot of job post ads that you come across. Your track record may not be like Richard Branson, Lori Greiner, or Mark Zuckerberg, but this does not mean that you cannot become like them or even adopt the right traits to emulate these successful entrepreneurs. Discuss five underpinning traits held by entrepreneurs. Why is it important?

Q2 The franchisee usually enters into a business that has an accepted name, product, or service. The franchisee does not have to spend resources trying to establish the credibility of the business. That credibility already exists based on the years the franchise has existed. Explain three advantages and disadvantages of franchising to a franchisee. If you are starting a business which one would you likely choose? *

 
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