MGM330-0704A-04 Business Decision-Making - Phase 2 DB Essay

MGM330-0704A-04 Business Decision-Making - Phase 2 DB - Essay Example The three options of credit discount incentive offers are cash back on online purchases, cash back on purchases at clothing stores and entry into a sweepstakes every time the customer utilizes the credit card. The key quantitative tool that determines which option is more attractive for the customer is probability. Probability is the chance of an event occurring (McClave & Benson & Sincich, 2001). For example if a person flips a coin which has only two possible outcomes the probability of the coin landing on heads is 50%. The Piggy case provides some research which can help a statistician determine the probability of a client winning a sweepstakes. The odds of winning a prize are 1 in 1000, thus the chances of winning are 0.1%. The company determines that the average American makes 52 credit card purchases a year. Each of these 52 occurrences represents a separate event with a probability of 0.1% of winning the prize. The value the customer receives can be compared to buying 52 one d ollar lotto tickets. There are lotteries that offer a 1 in 1000 chance of winning $500 when a person purchases a $1 ticket. The attractiveness of this option depends of what is the actual prize of the sweepstakes the company is offering. The other probability of the other two option can not be determine right now without additional data, but this does not mean that an initial analysis can not be performed. As far as the probability the two options follow a different probability called subjective probability. Subjective probability utilizes statistical models based on past information in which two different players may have different probabilities for the occurrence of a same event (Levine & Stephan & Krehbiel & Berenson, 2006). To understand this concept lets analyze each option. The online purchases option implies that a person will be attractive by the incentive because the customer can get cash on online

Capstone Paper Essay Example | Topics and Well Written Essays - 1500 words

Capstone Paper - Essay Example The perceptions and norms of society by voters influence their economic performance through affecting policies endorsed by politicians. The Americans value equality of political voice and democracy, while China and Russia tend to prefer socialistic values of communism. Russia’s transition to capitalism has been arduous, while China has undoubtedly embraced capitalism although retain their collectivistic ideologies. This paper will discuss the American, Russian, and Chinese societies within the context of political and economic system. The paper will elaborate on how political, economic, and other ideologies in these societies affect the three societies. The US economic ideologies are blend of capitalism and socialism although the vast continuum of social programs does not conform purely to capitalistic ideologies (Harshaw 1). The Americans tend to value equal political voice and democracy. In fact, the US is aggressively engaged in promoting democracy abroad. Such values are under increased threat amid persistent and increasing inequalities. The disparities in income, wealth, and opportunities are growing more steeply in the US than any other country in the world, with racial and ethnic disparities persisting. The realization of American democratic ideals seemed to have halted, and reversed in some areas. The Civil Rights revolution during the 1950s and 1960s made racial discrimination and exclusion to be socially and legally unacceptable in the American society. This resulted in widespread harmonious participation of whites and blacks in institutions of learning, employment, as well as all forms of civic and political organization s. This revolution has led to recognition of rights of women, with American currently accessing most of same political and economic opportunities as men do. The historically marginalized groups have also acquired rights to full participation within American institutions and tend to demand and enjoy the