Reference no: EM131119645
Assignment 2: Expected Value and Consumer Choices
Consumers' choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these discrepancies is an important step in improving your decision making.
As the readings for this module demonstrate, people value gains and losses differently under different scenarios. For example, contestants in a game show might choose a guaranteed $10 prize over a 50 percent chance of winning $20 despite the fact that the expected values are the same.
Using the readings for this module, the Argosy University online library resources, and the Internet, address the following:
What is mental accounting and how does it impact consumer decision making?
How might a company take advantage of consumers' mental accounting? Give examples.
As a marketer, how might you frame certain decisions to benefit from the disparities that arise in one's cognitive accounting?
As a consumer, how would you avoid the pitfalls posed by the inequalities of one's cognitive accounting?
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Calculate the total annual cost of the system
: ABC Company has a demand for 2000 units per year. The cost of each unit is $100. It costs ABC $200 to place an order and $4 to carry a unit in stock per year. Further, the supplier needs week and a half to deliver their order. Assume 50 weeks to a ye..
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Determine the expected percentage holding period return
: a. National Telephone and Telegraph (NTT) Company common stock currently sells for $60 per share. NTT is expected to pay a $4 dividend during the coming year, and the price of the stock is expected to increase to $65 a year from now. Determine the ex..
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The art of giving and recieving advice
: Write a journal about " the art of giving and recieving advice" .. leader must learn how to recieve and give advice effectively to their job well, but the exchange is hard work on both side of the table, doing it badly can lead to flawed decision , s..
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Compute the balance in the deferred gross profit
: A 2010 sale resulted in default in 2012. At the date of default, the balance on the installment receivable was $12,000, and the repossessed merchandise had a fair value of $8,000. Prepare the entry to record the repossession.(AICPA adapted)
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How would you avoid the pitfalls posed by the inequalities
: What is mental accounting and how does it impact consumer decision making?
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What would you advise the parents to do
: Barbara is a term female infant from an unexpected pregnancy. The parents consulted you as their physician. What would you advise the parents to do
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Structure using the various descriptions
: Describe IDEO's strategy in terms of size vs. structure using the various descriptions. Describe the size of their offices (number of people) and how they manage growth. Give reasons for why they manage the way they do.
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Initial posts and reply substantively to one of them
: read some of your fellow students' initial posts and reply substantively to one of them. (Wait until after next Monday, June 27 to do this part of the assignment in order to see all of the initial posts).
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What steps should informaticists take to ensure the system
: Describe why informaticists should play close attention to each of these considerations when evaluating an informatics technology. In your description, include the potential dangers each of these pose to patient safety and quality of care.
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