Choose one of the theorists mentioned in Chapter Eleven and provide a
brief summary of his perspective on play. How would this translate on a
practical level in the early childhood classroom? Share a teaching
strategy, lesson plan, or environmental model that reflects the
philosophy of your chosen theorist in regard to play.
Forecasting Slack and Menu and Marketing
a. Explain why Brenda and Scott behave in this manner, and describe
the benefits they expect to realize from the use of forecasting slack.
b. Explain how the use of forecasting slack can adversely affect Brenda and Scott.
c. As a management accountant, Kevin Vieden believes that the
behavior described by Brenda and Scott may be unethical. Explain why the
use of forecasting slack may be unethical.
Menu and Marketing
After reading Chapter 2, consider the following questions: What is a
market survey, and what are some ways that a survey could be used to
benefit a restaurant? What are the main characteristics of a standard
and combination menu, and in what situations would each be most
beneficial? What factors should be considered in creating and designing a
1. Approaches to Forecasting
Fish King Restaurants, a well-known restaurant chain in the Midwest, is in the initial stages of preparing its annual forecast for 2007. Kevin Vieden has recently joined Fish King’s accounting staff and wants to learn as much as possible about the company’s forecasting processes. During a recent lunch with Scott Bruce, res- taurant manager, and Brenda Clement, sales manager, Kevin initiated the following conversation:
Kevin: Since I’m new around here and am going to be involved with the prepara- tion of the annual revenue forecast, I’d be interested to learn how the two of you estimate sales and production numbers.
Brenda:We start out very methodically by looking at recent history and discussing what we know about current accounts, potential customers, and the general state of consumer spending. Then we add that usual dose of intuition to come up with the best forecast we can.
Scott: I usually take the sales projections as the basis for my projections. Of course, we have to make an estimate of what this year’s closing inventories will be, which is sometimes dif?cult.
Kevin: Why does that present a problem? There must have been an estimate of closing inventories in the forecast for the current year.
Scott: Those numbers aren’t always reliable, since Brenda makes some adjust- ments to the sales numbers before passing them on to me.
Kevin: What kinds of adjustments?
Brenda:Well, we don’t want to fall short of the sales projections, so we generally give ourselves a little breathing room by lowering the initial sales projec- tion anywhere from 2 to 5 percent.
Scott: So you can see why this year’s forecast is not a very reliable starting point. We always have to adjust the projected production rates as the year pro- gresses and, of course, this changes the ending inventory estimates. By the way, we make similar adjustments to expenses by adding at least 10 percent to the estimates; I think everyone around here does the same thing.
Your task: Kevin, Brenda, and Scott have described the use of what is sometimes called fore- casting slack.
1.Explain why Brenda and Scott behave in this manner, and describe the ben- e?ts they expect to realize from the use of forecasting slack.
2.Explain how the use of forecasting slack can adversely affect Brenda and Scott.
3.As a management accountant, Kevin Vieden believes that the behavior described by Brenda and Scott may be unethical. Explain why the use of fore- casting slack may be unethical.
What is the expected value decision?
11-8: Suppose that a car rental agency offers insurance for a week that
will cost $10 per day. A minor fender bender will cost $1,500, while a
major accident might cost $15,000 in repairs. Without the insurance, you
would be personally liable for any damages. What should you do?
Clearly, there are two decision alternatives: take the insurance or do
not take the insurance.
The uncertain consequences, or events that might occur, are that you
would not be involved in an accident, that you would be involved in a
fender bender, or that you would be involved in a major accident. Assume
that you researched insurance industry statistics and found out that
the probability of major accident is 0.05%, and that the probability of a
fender bender is 0.16%. What is the expected value decision? Would you
choose this? Why or why not? What would be some alternate ways to
12-2: Suppose that the service rate to a waiting line system is 10
customers per hour (exponentially distributed). Analyze how the average
waiting time is expected to change as the arrival rate varies from two
to ten customers per hour (exponentially distributed).
..Pick a company you can research this answer)and discuss the innovation strategy used by the organization and identify the strength and weakness of that type of innovation strategy. If you were the leader of an organization, what factors would you take into consideration when selecting an innovation strategy?
Should be over 150 words
Please reply to this with your answer in a word document
Plagiarism will be checked prior to awarding you the money for answering correctly.
Urban Education and Diverse Learners
Using at least one
resource in addition to your text, support or refute this claim.
Include in your discussion two to three skills or understandings that
would best prepare an early childhood educator to work with diverse
learners in any setting.
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