Example: Managerial Level: The Regional Director makes a decision to shift inventory that is not selling in one store to another store where sales in those items are high. To support this decision, the Regional Director would need information on sales of specific products by store.
Discussion: Shared Practice: Variance Analysis
Several tools are available to managers when evaluating organizational performance. Variance analysis is one such tool used to evaluate performance. Variance analysis compares actual costs with standard costs. The results from a variance analysis are important for helping managers control costs as well as identify areas were organizational performance and efficiency can be improved.
To prepare for this Discussion: Shared Practice, review the Learning Resources for this week and reflect on how actual costs, standard costs, and variance analysis will contribute to your current or future role as a manager or in decision making. Consider the role of variances when engaged in decision making and how variance analysis might help contribute to improved organizational efficiency.
By Day 3
Post the following:
Describe a scenario in which there are both highly favorable and highly unfavorable variances. Be sure to include the actual and standard costs in your scenario.
Analyze how and why you, as a manager, would prioritize the variances for analysis and how knowing these variances might help you improve efficiency.
Business Question
Business Assignment Help Research the newspapers, internet, magazines, etc. to select a business article. Type a DOUBLED space (12 pt. font, 1inch margin) 3-page paper that summarizes the selected article and provides your opinion about the article.The article I have selected: https://www.nytimes.com/2022/01/18/technology/amaz…Rubric:
Article Summarized and Opinion clearly stated (10-20 points)
Adhered to APA Writing Style Format (5-15 points)
Information flows and Grammatically correct (5-15 points)
Please include references on a separate page.
BUS461: Decision Modeling
Complete Problem 18 in Chapter 4 on page 159.
A quality inspector picks a sample of 15 items at random from a manufacturing process known to produce 10% defective items. Let X be the number of defective items found in the random sample of 15 items. Assume that the condition of each item is independent of that of each of the other items in the sample. The probability distribution of X is provided in the file P04_18.xlsx.
Use simulation to generate 500 values of this random variable X.
Calculate the mean and standard deviation of the simulated values. How do they compare to the mean and standard deviation of the given probability distribution? (Albright, 2017, p. 159).
In the discussion area, answer both questions in Parts a and b. Attach the Excel document.