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Rutgers - ECON - 322
Consumer Behavior Topic 6Learning Theory, Involvement Theory and Brand LoyaltyWe speak of learning theory as the process by which experience leads to change inknowledge attitudes, and/or behavior1. Cognitive approach to learning maintains that learnin
Rutgers - ECON - 322
Consumer Behavior Topic 7Attitudes and Attitude FormationA learned predisposition to behave in a consistently favorable or unfavorable way withrespect to a given objective.a. an attitude has an object (i.e., how you feel about a professor, a subject,
Rutgers - ECON - 322
Consumer Behavior Topic 8Attitude ChangeAttitude change strategies:a. change consumers basic motivational functionmotivational function of attitude:1. utilitarian function2. ego defenses3. value expressive4. knowledge5. social adjustmentb. assoc
Rutgers - ECON - 322
Consumer Behavior Topic 9Communication and Persuasion: Behavior Modification TechniquesCommunication Theory how to persuade people. A great deal of research wasconducted during World War II as the government studied how to create effectivepropaganda.
Rutgers - ECON - 322
Consumer Behavior Topic 10Personal Influence: Reference Group and Opinion LeadershipReference Groups use other people as a frame of reference.Primary groups are intimate, face-to-face such as family and peer groups. Informalprimary groups include fami
Rutgers - ECON - 322
Consumer Behavior Topic 11Family Influence; Organizational Decision MakingCollective decision making refers to decisions made by one person for numerousindividuals who are part of a group one of such groups is that of the family. Of course,we think of
Rutgers - ECON - 322
Topic 14Global ConsiderationsWhen manufacturers enter a new ethnic market, they must understand this market astraditions and values vary per culture. For example, bringing wine to a Moslemhousehold would be insulting as this religious subculture does
Rutgers - ECON - 322
Consumer Behavior Topic 15Midterm Study Guide (if there is a midterm)key terms:DemographicsPsychographicsBeliefs, values, fears RISKSMotives and MotivationPrice Quality RelationshipsVariables that effect consumers and their decisionsThe search fo
Rutgers - STAT - 285
Decision makers make better decisions when they use all available information in aneffective and meaningful way. The primary role of statistics is to to provide decisionmakers with methods for obtaining and analyzing information to help make thesedecis
Rutgers - STAT - 285
The problem most decision makers must resolve is how to deal with the uncertainty thatis inherent in almost all aspects of their jobs. Raw data provide little, if any, informationto the decision makers. Thus, they need a means of converting the raw data
Rutgers - STAT - 285
The purpose of this lecture is to help you to understand conceptually the meanings ofmeasures of locations (i.e., mean, median, and mode) and measures of variability (i.e.,range, variance, standard deviation, and coefficient of variation).Measures of L
Rutgers - STAT - 285
How is the lottery in Georgia set up so that it will make revenue for the state? Is thereany way the state could lose money on a game? Probability theory provides a way tofind and express our uncertainty in making decisions about a population from sampl
Rutgers - STAT - 285
In lecture number two, we said a Random Variable is a quantity resulting from arandom experiment that, by chance, can assume different values. Such as, number ofdefective light bulbs produced during a week. Also, we said a Discrete RandomVariable is a
Rutgers - STAT - 285
In lecture number four we said that a continuous random variable is a variable whichcan take on any value over a given interval. Continuous variables are measured, notcounted. Items such as height, weight and time are continuous and can take onfraction
Rutgers - STAT - 285
You may recall from lecture one that there are several good reasons for taking asample instead of conducting a census, for example, to save time, money, etc. Also, inthe same lecture we said that if a researcher is using data gathered on a group to reac
Rutgers - STAT - 285
The Students t DistributionWhat do we do if (a) we dont know and (b) n is small? If the population ofinterest is normally distributed, we can use the Students t-distribution in place ofthe standard normal distribution.William S. Gossett who developed
Rutgers - STAT - 285
Two-Sample Z-TestsIf the samples are large, random, and independent, then is a random variable andhas approximately a normal distribution, withSo,However, since H0 is usually 1 = 2 , then 1 2 =0 and:for 1, 2 knownfor 1, 2 unknownZ = if n1 + n2 32F
Rutgers - STAT - 285
Scatter Plots, Correlation, and RegressionOne way to see whether two variables are related is to graph them. Forinstance, a researcher wishes to determine whether there is a relationshipbetween grades and height. A scatter plot will help us see whether
Rutgers - STAT - 285
Z TestsTwo-Tail Tests: With a two tail test, the error is split into two with /2 goinginto each tail.EXAMPLE:A manufacturer produces bolts with a thickness of exactly 1inch (purportedly). Acustomer takes a random sample of 100 bolts and find that =1.
Rutgers - STAT - 211
A One-Way Analysis of Variance is a way to test the equality of three or more means at one timeby using variances.AssumptionsThe populations from which the samples were obtained must be normally orapproximately normally distributed.The samples must b
Rutgers - STAT - 211
Any Normal DistributionBell-shapedSymmetric about meanContinuousNever touches the x-axisTotal area under curve is 1.00Approximately 68% lies within 1 standard deviation of the mean, 95% within 2 standarddeviations, and 99.7% within 3 standard devia
Rutgers - STAT - 211
Recall that according to the Central Limit Theorem, the sample mean of any distribution willbecome approximately normal if the sample size is sufficiently large.It turns out that the binomial distribution can be approximated using the normal distributio
Rutgers - STAT - 211
Conditional ProbabilityRecall that the probability of an event occurring given that another event has already occurred iscalled a conditional probability.The probability that event B occurs, given that event A has already occurred isP(B|A) = P(A and B
Rutgers - STAT - 211
Sum of SquaresWe introduced a notation earlier in the course called the sum of squares. This notation was the SSnotation, and will make these formulas much easier to work with.Notice these are all the same pattern,SS(x) could be written asAlso note t
Rutgers - STAT - 211
Raw DataData collected in original form.FrequencyThe number of times a certain value or class of values occurs.Frequency DistributionThe organization of raw data in table form with classes and frequencies.Categorical Frequency DistributionA frequen
Rutgers - STAT - 211
Fundamental TheoremsArithmeticEvery integer greater than one is either prime or can be expressed as an unique product of primenumbersAlgebraEvery polynomial function on one variable of degree n > 0 has at least one real or complex zero.Linear Progra
Rutgers - STAT - 211
The term "Average" is vagueAverage could mean one of four things. The arithmetic mean, the median, midrange, or mode.For this reason, it is better to specify which average you're talking about.MeanThis is what people usually intend when they say "aver
Rutgers - STAT - 211
DefinitionsStatisticsCollection of methods for planning experiments, obtaining data, and then organizing,summarizing, presenting, analyzing, interpreting, and drawing conclusions.VariableCharacteristic or attribute that can assume different valuesRa
Rutgers - STAT - 211
Population vs SampleThe population includes all objects of interest whereas the sample is only a portion of thepopulation. Parameters are associated with populations and statistics with samples. Parametersare usually denoted using Greek letters (mu, si
Rutgers - STAT - 211
Sample SpacesA sample space is the set of all possible outcomes. However, some sample spaces are better thanothers.Consider the experiment of flipping two coins. It is possible to get 0 heads, 1 head, or 2 heads.Thus, the sample space could be cfw_0,
Rutgers - STAT - 211
Sampling Distribution of the Sample MeansInstead of working with individual scores, statisticians often work with means. What happens isthat several samples are taken, the mean is computed for each sample, and then the means areused as the data, rather
Rutgers - STAT - 211
Standard Scores (z-scores)The standard score is obtained by subtracting the mean and dividing the difference by thestandard deviation. The symbol is z, which is why it's also called a z-score.The mean of the standard scores is zero and the standard dev
Rutgers - STAT - 211
RangeThe range is the simplest measure of variation to find. It is simply the highest value minus thelowest value.RANGE = MAXIMUM - MINIMUMSince the range only uses the largest and smallest values, it is greatly affected by extreme values,that is - i
Rutgers - BAIT - 386
What is Productions and Operations Management?A field of study involving the planning, coordinating, and executing of all activitiesthat create goods or provide servicesFocus: To explore a variety of decision making tools that operations managerscan u
Rutgers - BAIT - 386
ForecastingWhy forecast?Features Common to all ForecastsConditions in the past will continue in the futureRarely perfectForecasts for groups tend to be more accurate than forecasts for individualsForecast accuracy declines as time horizon increases
Rutgers - BAIT - 386
Decision TheoryThe Decision ProcessSpecify objectives and criteria for making decisionsDevelop alternativesAnalyze and compare alternativesSelect the best alternativeImplement the chosen alternativeMonitor the results to ensure that desired results
Rutgers - BAIT - 386
ReliabilityWhat is reliability?Measures the ability of a product, part, or system to perform its intended functionunder a prescribed set of conditionsFailure situation in which the item does not perform as intendedReliabilities always specified with
Rutgers - BAIT - 386
Learning CurvesWhat is it?An integral part in corporate strategy, such as decisions concerning pricing,capital investment, and operating costs based on experience curvesIndividual learning the improvement that results when people repeat a processand
Rutgers - BAIT - 386
Introduction to QualityWhat is QUALITY?Broadly defined - quality refers to the ability of a product or service toconsistently meet or exceed customer expectationThe Dimensions of Quality1)2)3)4)5)6)Performance - refers to the main characteristi
Rutgers - BAIT - 386
Quality ControlPurpose of QCTo assure that the process is performing in an acceptable mannerDone through monitoring the process via inspectionQuality Assurance Relies on inspectionInspection after production (acceptance sampling)Inspection during pr
Rutgers - BAIT - 386
INVENTORY MANAGEMENTImportance of Inventory Management - Good inventory management is essential to the successfuloperation for most organizations because of:1. The amount of money invested in inventory represents, and2. The impact that inventories hav
Rutgers - BAIT - 386
When to Order (reorder points - ROPs) ModelsObjective: minimize the risk (probability) of stockouts4 Determinants of the ROP1. rate of demand2. lead time3. extent of demand and/or lead time variability4. degree of stockout risk acceptable to managem
Rutgers - BAIT - 386
Project ManagementWhat is a project?Unique, one-time operations designed to accomplish a set of objectives in alimited time frameExamples: construction of new buildings, installing a new computer networksystem, launching a space shuttle, producing a
Rutgers - BAIT - 386
QueuingWhat is queuing theory?The mathematical approach to the analysis of linesUseful in planning and analysis of service capacityGoal of queuing - minimize total cost - costs associated with customers waitingin line for service and those associated
Rutgers - FIN - 400
The key responsibilities of the CFOThe two main parts of CF are allocation (investment) and financing, corresponding to the A&Lsides of the balance sheet. The ultimate objective is to maximize the shareholders wealth:achieve the highest return on the p
Rutgers - FIN - 400
The Objective in Corporate FinanceIf you dont know where you are going,it does not matter how you get thereThe Classical Viewpoint: Van Horne: "In this book, we assume that the objective of the firm is to maximize its value toits stockholders" Breal
Rutgers - FIN - 400
Analysis of financial statementsThe Firms Financial Statements Balance Sheet Income Statement Statement of Cash FlowsFunctions: providing current status and past performance information to owners and creditors a convenient way for owners and credit
Rutgers - FIN - 400
Black-Scholes approach to the valuation of real optionsDifferences between real and financial options , which are crucial for the Black-Scholesapproach:1. The underlying asset is not traded Option pricing theory is built on the premise that a replicat
Rutgers - FIN - 400
Monte-Carlo approach to the valuation of real optionsStochastic Processes for Oil PricesGeometric Brownian Motion SimulationxThe real simulation of a GBM uses the real drift a. The price at future time t is given by:Pt = P0 expcfw_ (a - 0.5 s2) Dt +
Rutgers - FIN - 400
Treatment of Warrants and ConvertiblesWarrants and conversion options (in convertible bonds, for instance) are long term call options,but standard option pricing models are based upon the assumption that exercising an option doesnot affect the value of
Rutgers - FIN - 400
Merger: you can merge companies by finding a paper with the Sec of State of Delaware.New corporations possess all the rights, privileges, properties.Lease goes over to new companyThere is an ongoing debate whether patent law applies to patent licenses
Rutgers - FIN - 400
Tax considerations in transaction are important in knowing why a deal is done one way oranother.To structure a transaction ask what is the legal form pass through entity? -Partnership, Scorp., C corp. subsidiary of another corp. -it has income -Income
Rutgers - FIN - 400
Stock Purchase Agreement prepared by Kirkland and Ellis. 1.) Buyers counsel prepares agreement(Seller responds) 2.) Negotiation. Ask -Why did buyer pick specific language?-How does the sellerrespond?In agreement, Article 2: has the price. How do we fig
Rutgers - FIN - 400
Public company M&A transactionsThe process by which a public company (pc) transaction gets done.PCs have institutional investors, regular scrutiny, and media attention. (Different from privateM&A).PC: the threat of litigation is very palpable. Increa
Rutgers - FIN - 400
Fiduciary dutiesRecapTie law to practicalities.The CEO cant be in room due to conflict of interests beware of law suits, and avoidfinancial interests.Cronism: social relationships, (non-financial)When choosing a committee, avoid people with social
Rutgers - FIN - 400
I. Why Intl M&A is different?II. International JVs (joint ventures)III. LawyeringI. Why Intl M&A is different? For the large part domestic and international deals are not that different. There are same issues, covenants about business, IP issues, and
Rutgers - FIN - 400
1. Looking ahead2. Exercise3. The manager and M&A4. Forms of doing businessWhat is it like to be a manager? Will there be jobs Conflict of Board of Directors Position of acquiringWe have a system called At will employment; either party can walk aw
Rutgers - ENT - 302
Chapter 5 Forms of Business OwnershipThree major forms of ownership (Tony Conza and Blimpie's, Richard Sears, Dad's Store), plus a 4th:1. Sole Proprietorship (largest in #'s: 70%)2. Partnership3. Corporation (largest in sales $: 70%)4. CooperativeAd
Rutgers - ENT - 302
Chapter 9 Using the Latest Production TechnologyThe Production Process (fig 9.1): inputs -> production control -> outputs production is a "creative" process form utility (value added) productivity = outputs/inputsSite Selection: close to customer (
Rutgers - ENT - 302
Chapter 11 Human Resource ManagementDiversity in the workplace (and in society more broadly) matters: see handout on changing views of diversity the challenge of diversity training ("I don't have a problem") 1 of 10 in labor force are contingent worke
Rutgers - ENT - 302
Chapter 7 Management, Leadership, Employee EmpowermentNew Approach to Management: manager no longer the "boss" or controller, "Organization Man," orhe/him (e.g., Lynn Mercer)What's different today? increasingly tough global competition uncertain envi