Be sure to read the instructions below before getting started.

Instructions: Review the data file and answer the questions. Your answers should be submitted in the form of a Word document. The Word document should include ALL your answers including any charts, tables, or graphs required. Answer questions with complete sentences and using appropriate units and notation. You need to submit the Excel files that supports your work

PROBLEM:

INTERNATIONAL INDUSTRIES, INC.

International Industries, Inc. is a $53 billion conglomerate that owns and runs a wide variety of businesses worldwide. The scope of these businesses (which are called “divisions” at International Industries) ranges from retail packaged foods to industrial machine tools to financial services. George Ye has been CEO of International Industries for the past six years. At a recent meeting of the Board of Directors, Mr. Ye had come under criticism for International Industries poor performance in the last two years. In particular, the Board felt that Mr. Ye was not decisive enough in selling divisions that had been underperforming, and that he was also not aggressively investing in new businesses (particularly in the computer and bio-technology sectors). To his credit, Mr. Ye had closed four divisions during his tenure as CEO (which were smart moves, even in hindsight), and he had invested more than $2 billion in a new worldwide-web-based internet division, and more than $1 billion in a new division involved in the development of industry-oriented financial software.

After the Board of Directors meeting, George Ye arranged a meeting with the Chief Financial Officer (CFO) of International Industries, Mr. Paul Glasser. George Ye asked Mr. Glasser to undertake a comprehensive re-evaluation of all the divisions of International Industries. More specifically, he asked Mr. Glasser to recommend to him which divisions to sell, which divisions merited further investment of capital, and which should be maintained at status quo. Furthermore, he wanted this analysis completed within the next two months, in time for the next quarterly meeting of the Board of Directors.

Mr. Glasser retained the services of the consulting firm GCG, Inc. for assistance in this decidedly large and important undertaking. Mr. Glasser asked the directors of each of the thirty divisions of International Industries to submit a request for capital expenditures (with justification and back-up). For each division, Mr. Glasser wanted to decide whether International Industries should further invest in the division, maintain the division with no significant additional investment, or sell the division. Of course, it would also be nice to consider other investment options for each division, such as investing more or less than the requested amount, but with only two months to complete his analysis, Mr. Glasser honestly thought he would have to keep his decision framework purposely limited in scope.

For each of the thirty divisions and for each of the three decision choices (invest, maintain, or sell), Mr. Glasser asked the division vice president to report the investment amount required, the expected financial implications of the choice (measured in net present value (NPV)), and the cash flow implications of the choice for the coming year. With the help of the GCG consultants, each of the thirty divisions submitted the requested information. For example, consider the tool and die manufacturing division, which is division number 2. The summary information for division 2 is shown below:

The plan to invest in this division consists of building a new factory in Mexico, buying new machinery, buying new computer systems, and expanding warehousing capacity. The plan to maintain this division merely requires upgrading obsolete equipment. The plan to sell this division involved funds expended for canceling leases and contracts and for severance packages for higher-level managers. The spreadsheet (link) contains all the information collected by GEG for all 30 divisions.

Mr. Glasser needed to determine which decision (invest, maintain, or sell) to recommend for each division. His decision criterion was to maximize the net present value to International Industries, subject to cash flow considerations. The cash-flow considerations were that the total investment amount for next year could not exceed the total cash flow for next year. Mr. Glasser also identified some choices that were interrelated, which he listed as follows in his discussions with GCG:

(a) For strategic reasons, if International Industries sells division 1, then they should invest in division 2 and vice versa. Similarly, if International Industries sells division 1, then they should sell division 3 and vice versa.

(b) If International Industries invests in division 6, then they should also invest in division 7, but not necessarily, vice versa.

(c) For diversification purposes, Mr. Glasser felt that at most one of the following choices could be made: sell division 3, sell division 4, sell division 5, maintain division 6, sell division 7, and sell division 9.

(d) Lastly, given the similarities of divisions 24 and 28, Mr. Glasser felt that if International Industries invests in division 24, then they should also invest in division 28.

Given that there are three choices for each of the thirty divisions, Paul Glasser realized that there were possible investment strategies to consider, which of course is an astronomical number. When he discussed this with the consultants at GCG, they pointed out to him that they thought they might be able to compute the optimal investment strategy by formulating and solving the decision problem as a discrete optimization problem. Mr. Glasser knew that even if he found the “optimal decision strategy” George Ye would most certainly ask him about the sensitivity of his decision to key financial assumptions. From previous experience, Paul Glasser also knew that George Ye would ask him not only for his “optimal” recommendation, but he would also ask Paul for his second-best and third-best alternative recommendations.

Questions

Suppose that you are an associate of the firm GCG. Using the data provided in the spreadsheet, construct an optimization model of the problem faced by International Industries.

• A) Provide the linear programming formulation. Define decision variables, objective function and constraints. Feel free to use short notation and abbreviate parts of the formulation.
• B) Create the spreadsheet model and solve it using Solver. Use “FORMULATEXT” to show constraint calculations and objective function calculation. <Insert screenshot of model, and answer report>
• C) What is the optimal recommendation? Use a visual to communicate the recommendation.

(b) What is the penalty for imposing restrictions (a)-(d) outlined above? That is, how much does the optimal NPV change if these restrictions are removed?

(c) Your boss knows that Mr. Glasser likes to have options and asked you to also include in your report the second best and third best solution to the optimization model.

• 1)Devise, explain and implement a methodology to generate the second best and the third best solutions.
• 2)How do the alternative solutions differ?
• 3)How much does the optimal NPV change compare to the best?

Instructions: Review the data file and answer the questions. Your answers should be submitted in the form of a Word document. The Word document should include any charts, tables, or graphs you create. You are also required to submit an Excel file, or copy of hand calculations to support your answers.

Question 1

A real estate agent has collected a random sample of 75 houses that were recently sold in a suburban community. She is particularly interested in comparing the appraised value and recent selling price of the houses in this particular market. The data are provided in the file Real_Estate.xlsx.

1. Calculate summary statistics for the data. Copy and paste the results.
2. What test is more appropriate (a two-sample test or a paired test) to assess whether there is evidence of a mean difference in the appraised values and selling prices? Explain your reasoning.
3. Using this sample data, test whether there is a statistically significant mean difference between the appraised values and selling prices of the houses sold in this suburban community.
   1. Set up the appropriate null and alternative hypothesis for this situation. Specify whether this is a one-tailed test or a two-tailed test and explain your reasoning.
   2. Use StatTools to conduct the test and compute the p-value for your test statistic. For which level of significance is it appropriate to conclude that no difference exists between these two values? Copy and paste the output generated by StatTools.
4. Communicate the results of the test in plain English within the context of the problem.

Question 2

A bank has the business objective of improving the process for servicing customers during the noon-to-1PM lunch period. To do so, the waiting time (defined as the number of minutes that elapses from when the customer enters the line until he or she reaches the teller window) needs to be shortened to increase customer satisfaction. A random sample of customers at two different branches of the bank is selected and the waiting times are collected and stored in the file BankTimes.xlsx. Is there evidence that the mean waiting time in Branch 1 is less than in Branch 2?

1. Specify the null hypothesis and the alternative hypothesis. State whether you are using a one- or two-tailed test and explain your reasoning.
2. Determine the appropriate hypothesis test to this problem. Justify your answer.
3. Conduct calculations “by hand” to compute the critical value and p-value of the test. Determine your decision using two methods, the rejection region and the p-value approach.
4. Use StatTools to conduct the hypothesis test. Copy and paste the command and output generated by StatTools.
5. Communicate the results of the test in “plain English” including the meaning of the p-value.

Question 3

How often does work intrude during off hours? A survey of 1,000 office workers indicated that 53% of males and 41% of females had office intrusion while on vacation. Assume that the survey consisted of 500 males and 500 females. At the 0.05 level of significance, is there evidence of a difference in the proportion of males and females who experience office intrusions while on vacation?

1. Specify the null hypothesis and the alternative hypothesis. State whether you are using a one- or two-tailed test and explain your reasoning.
2. Determine the appropriate hypothesis test to this problem. Justify your answer
3. Conduct calculations “by hand” to compute the critical value and p-value of the test. Determine your decision using two methods, the rejection region and the p-value approach.
4. Use StatTools to conduct the hypothesis test. Copy and paste the command and output generated by StatTools.
5. Communicate the results of the test in “plain English” including the meaning of the p-value.

Ethics Program Implementation

As you can see by your reading, a lot of energy goes into the implementation of an organizational ethics program. And Lockheed Martin has clearly allotted considerable resources to assuring their program is successful. In this assignment, we’ll be focusing on what the company did to ensure the implementation of a successful program that was flexible enough to accommodate the changing needs of the organization.

Assignment

Please address the following questions:

1. On p. 83 Terris discusses the company’s ethics code. Why is the code considered important to the company’s ethics program?
2. Discuss the importance of ethics training and employee involvement. What are some of the things Lockheed does to make the training process interesting and worthwhile?
3. How does Lockheed measure success with respect to ethics in the workplace?
4. What are some of the things Lockheed does at the operational level to make their ethics program work?

Assignment Expectations

Write a 3- to 4-page paper, not including the title page or references page addressing the issue, and upload it by the end of this module.

Your paper should be double-spaced and in 12-point type size.

Your paper should have a separate cover page and a separate reference page. Make sure you cite your sources.

Use APA style, and proofread your paper.

Upload your paper by the end of the module.

The Chief Ethics Officer

Assignment Overview

In this assignment, you will be asked to consider the role of organizational leaders with respect to ensuring companies work to create an ethical workplace culture. It is important for all upper-level leaders to ‘walk the talk’ so to speak. In addition, many larger companies have a Chief Ethics and Compliance Officer who provides leadership and oversight to the company’s business ethics-related endeavors. Recall that Lockheed Martin has such an executive-level position. However, not all companies have such a position. In this assignment, you will be asked to discuss the contributions of executive leaders and of the Ethics Officer with respect to building an organization that values workplace ethics.

1. What do you believe are the most important characteristics of ethical leadership?
2. Describe the relationship between the ethical leader and the follower.
3. Why is this relationship important for organizations that are attempting to do the right thing?
4. Based on your readings (both the articles provided and Terris’ text), what is the role of the Chief Ethics Officer, and how does the role of this person relate to the success of the ethics-related endeavors within large organizations?

Assignment Expectations

Your paper should be 2–3 pages, double-spaced, and in 12-point type size.

Your paper should have a separate cover page and a separate reference page. Make sure you cite your sources.

Use APA style, and proofread your paper.

Upload your paper by the end of the module.

Terris, D. (2013). Ethics at work: Creating virtue at an American corporation. Waltham, MA: Brandeis University Press. Retrieved from the Trident Online Library.

For your SLP assignment, please read the following article.

Gnazzo, P. J. (2011). The chief ethics and compliance officer: A test of endurance. Business & Society Review (00453609), 116(4). Retrieved from the Trident Online Library.

Also, please spend some time researching other sources to help you develop your key arguments.

Mihelic, K. K., Lipicnik, B., & Tekavcic, M., (2010). Ethical leadership. International Journal of Management and Information Systems, 14(5), 31-41. Retrieved from the Trident Online Library.

Oates, V., & Dalmau, T. (2013). Instilling ethical leadership. Accountancy SA, 38-41. Retrieved from the Trident Online Library.

Cavico, F. J., & Mujtaba, B. G. (2017). Wells Fargo’s fake accounts scandal and its legal and ethical implications for management. S.A.M. Advanced Management Journal, 82(2), 4-19.

Venezia, C. C., Venezia, G., Cavico, F. J., & Mujtaba, B. G. (2011). Is ethics education necessary? A comparative study of moral cognizance in Taiwan and the United States. The International Business & Economics Research Journal, 10(3), 17-28.

The following tutorial provides detailed information that can be applied to the topics of this course. There are a number of videos and lessons on ethics.

https://courses.lumenlearning.com/epcc-introethics-1/chapter/do-you-have-to-be-an-expert-to-practice-ethics/

Writing for Art and Art History

Overview │Forms of Analysis │ Critical Terms │ │Citation Style

An Overview

Writing for Art and Art History is most often critical analysis. Papers generally follow the traditional format for an analytical essay: intro with thesis, body paragraphs in support of the thesis, and a conclusion. Include a topic sentence for each paragraph, and keep your thoughts clear and concise. The writing should state its intention, and then work slowly to prove said intention to the reader. Since this writing is critical analysis, all claims should be supported by evidence.

There are several different types of writing in Art and Art History. Formal analysis is a study of the principles and elements of art. Stylistic analysis is a study of the art object in the context of the stylistic period in which it was created. Patronage analysis explores the effects of a patron on an art object, as well as that object’s personal history. Iconographic analysis is the study of the content of the images and their symbolic associations. Theoretical analysis/criticism looks into social and historical contexts of the piece and their implications for interpretation.

Avoid sweeping generalizations and assuming authority on the topic. For example, instead of saying “the Laocoon is an amazing and awe-inspiring masterpiece in the time period,” say, “the Laocoon’s command of form, use of dramatic movement and strong diagonal form makes it a masterpiece of its time period.” Pay close attention to the definitions of the elements and principles of art. These terms and their definitions can be the building blocks for your critical essay, adding a level of sophistication and understanding when used properly. Be aware of subtle differences in meaning, which can often lead to their misuse (e.g. color and value, or shape and form. Read and reread the definitions before including them in your writing!

Forms of Analysis

There are several types of analysis in both art and art history writing. Formal analysis is used predominately in writing for studio classes. Stylistic, patronage, and iconographic analyses are used predominately in writing for art history classes. Theoretical analysis is used in both of these disciplines. Below is a brief description of all of the styles, along with some tips and tricks for the writing process.

Formal Analysis:

Formal analysis breaks down the use of the Elements of Art (see terms below—line, shape, space, value, color and texture) and the Principles of Art (see terms below—unity, harmony, balance, rhythm, contrast, dominance, gradation). It looks closely also at composition and the Attributes of Art (emotional, esthetic, spatial). It is an in-detail description of how each of the

elements and principles are used in the art object. This type of writing is often inductive. This means that you will begin with a detailed description of the art object, using the critical terms (see terms below) and eventually conclude with what makes this piece a successful or unsuccessful one. In Art, this type of writing is typically used for peer or personal review. In Art History, this is most often used as a means of analysis for more well-known works. Formal analysis is all about transferring visual language into written language, one of the skills required of art historians; think of this as an exercise in communication.

Stylistic Analysis:

Stylistic analysis discusses an object in the context of its stylistic period (i.e. Renaissance, Hellenistic, Modern). Most often this will be a comparison of two objects from similar or different time periods. Focus on the characteristics of the established time period: How does this art object fit into its established time period? How does it differ from contemporary art objects? What was going on during the time it was created? How was it received by the public? This type of paper allows for a look at broader historical and social contexts as opposed to only the art object itself. If the art piece differs from the norm of the time, explore why and look into how this piece could have improved the science of its contemporaries. This is a look into larger historical trends.

Patronage Analysis:

Patronage analysis is an examination of the experience of an art object. Look at the influence of a patron (the one who purchases the art) and what this says about the life of the artist during this time period. In what time period/movement was the art object created? What was the intention of the art object (personal, public, religious)? Track the history of an object before it came to a museum, and its significance in history. Do not neglect the effect of the patron’s status, religion, or political stance on the piece.

Iconographic Analysis:

This is a study of the content of images and symbols, as understood by art historians. These images are often religiously based but can also be culturally based. Look at this in a broader social context of the time. Do not be afraid to compare the imagery to that used in objects with like subjects. What is the intention behind the symbols? How is this influenced by the patron? What is the context of the piece? What does the setting say about the objects themselves? Look into the history of those things which the objects represent. Does an understanding of the icons provide new meaning to and/or understanding of the piece?

Theoretical Analysis and Criticism:

This type of analysis is not about the art object itself but instead about its social and historical circumstance. Consider what this piece is saying about the social, economic, religious, gender and/or cultural contexts at the time. Explore these topics, using critical theory as a framework for the analysis. There are many art theorists. Read up on the literature surrounding the piece and its time. Is there further intention than aesthetics? If there is no further intention, what does that say about the piece? Consider the applied ontology (how the medium is used with a specific intention i.e. painting a portrait) of the medium versus the physical ontology (the study of what the medium is and what it does i.e. acrylic paint is powder pigment suspended in water based medium, which later dries like plastic).

List of Critical Terms

One of the most difficult parts about writing in art and art history is commanding the language. Many of the terms have extremely specific and intertwined definitions. Therefore, using the correct terminology is important to building an accurate analysis of any piece. Below is a list of critical terms to get you started. The Elements and Principles of Art are the building blocks of any critique or analysis in art. Be sure to pay close attention to the subtle differences in each definition. If you are stuck on where to begin, try looking at the subject of your paper and describe it using the Elements and Principles of Art.

Elements of Art:

Line – Lines define the edges of objects in art pieces. Take note of their shape andthickness.

Shape – Shapes are formed from the meeting of lines and the enclosing of areas in two-dimensional space.

Form – Form is the three-dimensional partner to shape. Essentially it is shape with valuein order to give it a third dimension. (The art object does not need to be three-dimensional in order for form to be discussed.)

Space – Space is an empty place or surface in or around a work of art. Space can be two-dimensional, three-dimensional, negative and/or positive. Negative space is the spacewhich no object is occupying (e.g. a blank background in a photograph). Positive spaceis the space that an object occupies (e.g. the space an apple occupies on your counter).

Color – Color refers to the hue and intensity of the colors of the art object. It may alsorefer to the value, or the darkness, or the color. Note that tint and saturation are also to beconsidered. Hue is the name of the color on the color wheel. Value is the lightness ordarkness of the color present, how black or white it is. And Intensity is the brightness ordullness of a color.

Value – The lightness or darkness of the color. Value is often used to denote form andspace.

Texture – The use of, or illusion of, different textures, such as metal, wood, or fabric, inan art object.

Principles of Art:

Rhythm – This is the creation of visual rhythm by repeating specific elements throughouta piece, even using patterns.

Movement – This is the flow through a composition. Look to lines and contrast in thepiece. Focus on how the viewer reads the visual aspects of the art object.

Pattern – The repetition of a line, shape or color over and over again.

Balance – This can be symmetrical or radial. It is created through visual weight in thepiece. Balance can be both formal and informal.

Variety – Often used to draw your eye to a focal point, variety is created by somethingthat differs from the rest of the composition.

Emphasis – This is used to make certain parts of the artwork stand out. This can be donewith techniques with line, value, shape, and pattern. This can also be interpreted as afocal point.

Harmony – Brings together a composition through similar elements.

Unity – How all of the parts of a piece function together to create a whole.

Citation Style

Although there is no standard for citation in art and art history writing, Chicago style is most commonly used. So why cite sources? When utilizing or referencing anyone else’s intellectual material, proper citations are the best way to avoid plagiarism. Intellectual material should be accredited to its original thinker. Keep in mind that not everything needs to be cited during this process. If something is considered general knowledge to the audience to whom you are writing (Leonardo Da Vinci painted the Mona Lisa), the information does not need to be cited. If the information is a more specific claim that supports your argument (such as the Mona Lisa is said to be a portrait of Lisa Gherardini), it needs to be properly cited.

Chicago style can either be done in footnotes or with in-text citations and a bibliography.

The format for footnotes or endnotes

1. Contributors’ Name, “Title of Resource,” Publishing Organization/ Web Site Name in Italics,last edited date, website.

Bibliography

Name, Contributer 1, Contributer 2 Name, and Contributor 3. “Title of Resource” Publishing Organization/ Website. Last Edited Date.

In-text Citation

(Contributors’ Surnames, year of publication, page or section number when available)

There is additional information for how to properly cite sources available on the following websites. Keep in mind that if you use sites that automatically cite information for you, such as EasyBib or Zotero, this information is not always guaranteed to be correctly formatted. Always make sure to double check these sources before submitting your bibliography..

UVM Libraries: http://library.uvm.edu/guides/citation/chicago.php (Links to an external site.)

Purdue Owl: http://owl.english.purdue.edu/owl/resource/717/02