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It was noted in class that a production function identifies the maximum amount of output that can be obtained from a given amount of input. that is, workers are assumed not to shirk. if workers were to shirk, then: i. the level of output per period will be less than the level of output if workers do not shirk ii. mpl and apl will be greater than mpl and apl if workers do not shirk iii. the total labor costs required to produce a given level of output will be greater than if workers do not shirk but total fixed costs will be unaffected i
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Business, 22.06.2019 10:30, batmanmarie2004
The card shoppe needs to maintain 21 percent of its sales in net working capital. currently, the store is considering a four-year project that will increase sales from its current level of $349,000 to $408,000 the first year and to $414,000 a year for the following three years of the project. what amount should be included in the project analysis for net working capital in year 4 of the project?
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Business, 22.06.2019 13:00, shayneseaton
Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal thatβs being measured. while the scale is highly reliable in producing consistent results (e. g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what itβs supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.
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