Comparing Logit And Probit Models Essay

There is consideration present here since according to the ‘Doctrine of Consideration, ' promises will legally enforceable if you ‘ask for something in return for ' something else. Here, Ken asks for £12,000 in return for his work to build Jack 's conservatory. Therefore, when Jack ‘accordingly contacts Ken to say that he will be employing him to do the building work, ' Jack has accepted Ken 's offer, and both parties have entered into a legally binding contract. Jack 's statement qualifies as an acceptance since there is correspondence between the two parties, whereby both the offer and acceptance are on the same terms; there is nexus, where the acceptance is in response to the offer; and finally, there is communication on both parts. Moreover, when Jack states that he will accept the ‘most competitive ' tender, he could argue that the recommendation from ‘Barnie, ' his ‘neighbour ' who expresses that ‘Ken is an excellent builder ' constitutes Jack 's meaning of the ‘most competitive. ' However, this is not relevant unless Bob wishes to argue in court that Jack 's proposal was indeed an invitation to tender, which constitutes an offer, as according to Harvela.

Prices of the different products and services of the organization should be market specific. The economic capability and disposable income of clients should be put into consideration in setting prices for the products and services offered by the organization. By matching prices with the economic capability of a people, it would be much easier to for customers to access the products and services without straining or having to compromise and going for other products of lower quality (Donna, 2012).

Ruhling can proceed with the bidding by meeting all specific criteria established to determine which best process will offer the lowest product pricing on motors products that meet the technical requirements, financial and operational capacity to perform on the contract, product performance specifications, and product warranties

Question 16 Managers who optimize their decisions will attempt to choose a) the first minimally acceptable alternative. b) among those alternatives with variable results. c) the least expensive alternative. d) that alternative that produces the least conflict. e) an alternative that achieves the best possible balance among several goals.

An advertisement involving a transaction in goods is an offer when it invites particular action, and when it is clear, definite, and explicit and leaves nothing open for negotiation.

2. READING TIME = 10 Minutes 3. THIS EXAMATION PAPER HAS 9 PAGES 4. TOTAL NUMBER OF QUESTIONS - 6. 5. ANSWER ALL QUESTIONS. 6. ALL QUESTIONS ARE OF EQUAL VALUE 7. TOTAL MARKS AVAILABLE FOR THIS EXAMATION - 60. 8. THE MARKS AWARDED TO EACH PART OF A QUESTION ARE INDICATED. 9. CANDIDATES MAY BRING THEIR OWN CALCULATORS TO THE EXAM 10. STATISTICAL TABLES ARE PROVIDED AT THE END OF THE EXAM PAPER 11. ALL ANSWERS MUST BE WRITTEN IN PEN. PENCILS MAY BE USED ONLY FOR DRAWING, SKETCHING OR GRAPHICAL WORK. 12. THIS PAPER MAY BE RETAINED BY THE CANDIDATE

Pilgrim Assurance is a case that involves a sealed bid auction. Therefore, the auctioneers will need to sell the building to the highest bidder involved at a minimum bid of $15 million. David Bailey is given the decision to decide on how much to bid for an office building. Furthermore, he needs to make the decision whether to lease it as office space or to convert this office space into condominiums. In this case, I will analyze the goals and objectives of Bailey as well as the other participants. The sealed bid auction indicates that they are willing to take a chance on the market and try to receive high bids. There is no problem with the government participant besides using permits to do renovations. There is

Decisions will be made by using the concepts of marginal costs and marginal revenue to maximize profit. A mix of pricing and non-pricing strategies will be

Pricing is a pertinent issue in procurement and acquisition in organizations. Consumers buying the commodities of an entity should get clarity on pricing related issues. There is uncertainty in Pro

In the given case, there are five projects including Whalen Court, Gopher Place, Stadium Remodel, Goldie’s Square and The Barn. All of these projects were under consideration for the purpose of implementation. Each of the projects has its own cost and benefits on the performance of Target Corporation. The process of choosing one of the projects which has high Net Present Value and Internal Rate of Return is very important for the company as capital investment has a significant impact on the short term and long term profitability of the company. As a result, the ultimate objective of the case is to carry out an analysis which might help in ranking the projects so that the company would come up with the decision for acceptance and rejection of the

Pg 1 of 14 PM598 – Go Green Consulting’s RFP 2010 TABLE OF CONTENTS 1. INSTRUCTIONS TO BIDDERS............................................................................................................3 1.1. General Description of Work..............................................................................................................3 1.2. What Must Be Included with Bid

The following explanation is structured based on the decision making model: Define the problem (A), Analyze Alternatives (B), Make a Choice (C), Take Action (D), Evaluate Result (E). For each of the steps in the decision-making process, I will list each situation in order (1-4) stated in Case 9, W-115.

Perhaps one of the most difficult managerial decisions in the 21st century is the decision to make a decision. Analysis paralysis, endless meetings, and corporate structure have made it painstakingly difficult to come to any real conclusions. So when the Chief Financial Officer, Bruce Berman, of Bloomindale’s was tasked with decision to implement ProfitLogic’s Pricing Optimization (PO) system, he called upon Daniel Gabbay, an analyst in the finance division, to make sense of the numbers and guide his decision making process. Berman was considering implementing a PO system to quantify the markdown

Estimate the effect on income each of the options Rowe has suggested if Bradley estimates as follows :

This case problem is related to a property purchase strategy. The president of Oceanview is deciding whether to bid for a property to build and sell condominiums. However, this depends on whether the state can change the zoning of the property to permit construction of condominiums. Here, the decision is whether to bid for the property, and chance events are firstly, whether the bid can be successful, and secondly, whether the state will approve the zoning change. To assess the likelihood that the state will approve the zoning change, the president can hire a market research service. Hence, the president is facing another decision as