Compare and contrast the exploratory, descriptive, and causal research designs (Table 3.2 in the text)
What will be an ideal response?
A comparison of the basic research designs appears in Table 3.2 in the text.
The objective of exploratory design is to discover ideas and insights; of descriptive design is to describe market characteristics; of causal design to determine cause and effect or functions.
The characteristics of exploratory design include flexibility, versatility, and that it is often used as the front end of total research design. The characteristics of descriptive design include its preplanned and structured design and that it is marked by the prior formulation of specific hypotheses. The characteristics of causal design include the fact that mediating variables must be controlled for and that one or more independent variables are manipulated.
Methods using exploratory design include expert surveys, pilot surveys, secondary data (which is analyzed qualitatively), and qualitative research. Methods using descriptive design include secondary data (which is analyzed quantitatively), surveys, panels, and observational and other data. Methods using causal design include experiments.
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Riemer, Inc. has four departments. Information about these departments is listed below. Maintenance is a service department. If allocated maintenance cost is based on floor space occupied by each of the other departments, compute the amount of maintenance cost allocated to the Cutting Department. Maintenance Cutting Assembly PackagingDirect costs$18,000 $30,000 $70,000 $45,000 Sq. ft. of space 500 1,500 2,000 2,500 No. of employees 2 3 16 4
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What will be an ideal response
Gabriel Metalworks produces a special kind of metal ingots that are unique, which allows Gabriel to follow a cost-plus pricing strategy
Gabriel has $11,000,000 of assets and shareholders expect approximately a 9% return on assets. Assume all products produced are sold. Additional data are as follows: Sales volume 450,000 units per year Variable costs $16 per unit Fixed costs $1,500,000 per year Using the cost-plus pricing approach, what should be the sales price per unit? (Round your answer to the nearest cent.) A) $16.00 B) $19.33 C) $21.53 D) $2.20