Probability College Essays Samples For Students

Introduction

Probability is considered as a measure of expectation about occurrence of an event. Probability is given a corresponding value from 0 to 1 depending upon the chances of occurrence. If the probability of an event’s occurrence is higher which means close to 1 then there are more chances of the event’s occurrence whereas if the probability of an event’s occurrence is lower which means close to 0 then there are lower chances of the event’s occurrence. The concept of probability is given a mathematical place by a theory known as probability theory. This theory is used greatly in various ...

Discussion questions

Metric system has only seven basic units, while the US system has more than 300 basic units; thus, it is simpler. In addition, units in metric systems are multiples of 10, therefore, calculations is easier than in US system. Metric systems are universally applied, except in USA.
Perimeter is measured by distance round a figure whose SI units are meters; therefore, the perimeter is given in units of length. However, area is a derived quantity and its magnitude is obtained by multiplication of two units of length. Therefore, its units are given by the product of the units.
Theoretical ...

Classical theory of probability is basically used to define probability of equally likely events. Normally, events classified under this category are referred to as ‘equally possible’. Therefore, the probability is the total number of possible cases over the total number of relevant cases. Alternatively, classical theory terms the probability of an event as a proportion of alternatives amongst possible alternatives in a given situation. Classical definition is also referred to as priori which implies that it is based on logic without any observed facts. Otherwise, it is based on past studies which cannot be mathematically challenged. For instance, in tossing a die, ...

Statistical Management

Question 1
Quantitative analysis is a tool that is used to understand, explain and predict behavior of different phenomena using measurement, research, statistical and mathematical modeling. Quantitative analysis provides a scientific approach to managerial decision making because it involves manipulating and processing raw data into meaningful information using a structured procedure. Quantitative analysis involves seven steps; problem definition, developing the model, acquisition of input data, developing a solution, testing the developed solution, analyzing results from the solution and lastly implementing the results.
Problem definition is the most difficult yet most important step in quantitative analysis. The problem needs to be stated ...

In this paper, we examine the data obtained from the Springdale Shopping Survey. We will create contingency tables and relative frequency probabilities in order to provide the answers to the given questions.These answers will provide helpful insights to the shopping mall management. The variables we choose for this analysis is related to customers’ spending behavior depending on their gender and other significant factors.

So, according to the instructions, the variables participated in this research work are:

Variable # 4: How much the respondent spends during a trip to Springdale Mall?
Variable # 5: How much the respondent spends during a trip to Downtown?
Variable # 6: How much the respondent spends during a trip to ...

Events Plus is a professional company that conducts seminars for businesses and government organizations. They conduct seminars on a wide variety of subjects, some of which are very popular and some that are not so popular. Naturally, they want to make a profit on all of their courses. There are expenses involved in every course and if they do not get enough participants in each course, they will lose money. The challenge for Events Plus is to figure out how to manage their risks so that they make as much profit as possible and can continue to do business. ...

- The probability of being dealt an ace is 452 . The probability of being dealt an ace again from the remaining pack of 51 cards is 351. Therefore, the probability of a pocket ace hand will be given byP Pocket Aces= 452×351=122652≡1221
- There are an equivalent number of kings as there are aces. It, therefore, implies that the odds of being dealt pocket kings are the same as that of being dealt pocket aces. The probability of a pocket kings hand is therefore

- There are 13 sets of cards with the same denomination in a set of ...

Introduction

Sampling refers to the statistical technique of selecting a population subset in order to make observations, as well as statistical inferences. Usually, social science research involves inferring behavioral patterns within particular populations (Frankfort-Nachmias & Nachmias, 2008). Consequently, cost constraints and feasibility necessitate the selection of a sample in order to analyze a particular population. Nevertheless, it is crucial to determine a sample that is adequately representative of the population. Such a sample increases the accuracy of results and inferences. Thus, sampling enhances the quality of observations by ensuring that the units under study are representative of the broader population. An overall sampling strategy is useful ...

Probability is a widely used term that describes the likelihood of occurrence of events. It is used to estimate the chance of an event occurring given a number of factors. We apply probability in our general life situations everyday life. For example, meteorologists used concepts of probability in forecasting future trends. When we toss a coin, we use the concepts of probability to determine the number of heads and tails that are likely to appear. Players of a lottery game will use probability to determine how many times the numbers have to be combined in order for one to win a game. Thus the ...

“If it has ‘science’ in its name, it ain’t (Minnick).” Those words were said to this writer by the smartest person he ever knew personally, a man with PhDs in Mathematics and Physics, a true scientist. He went on to explain that science, if it is science, can be reduced to mathematics and then can predict. “Science can generate electricity or flatten cities,” he said. The problem, of course, is that whenever one deals with the “soft sciences,” political science or economics (the dismal science) or sociology or history or any of the disciplines that are housed in ...

Problem Solving

If a person runs independent trials where each trial has a 0.7 probability of success,
what is the probability that they have their first success on the 2nd trial?
This is the probability that the first trial will be unsuccessful, the second will be successful and other trials do not matter.
The probability of failure on 1st trial is 0.3, the probability of success on 2nd trial is 0.7. Hence, the probability of that the first success is on the 2nd trial is 0.3*0.7 = 0.21 (see geometric distribution for x=2)
which trial has the highest probability of being ...

The following analysis represents the sample data of the judges of Hamilton County and the probability of the cases at three different court levels regarding appeals and reversals.

Introduction:

There are over thousand cases that the judges of Hamilton Country need to deal with. The study for analysis of performance has been undertaken to provide evidence to the media whether the judges are performing fairly well or not. The results of the analysis have been obtained from Kristen DelGuzzi, who belonged to Cinncinati Enquirer; the organization responsible for the conduction of the case study taking three years as a time ...

Summary of fundamental ideas presented

Wireless network is the interconnection of computing nodes without any physical linkages. Multipath effect is a challenge that faces wireless linkages. To enhance reliability of communication through wireless network there are a number of factors to consider and these include formulation of outage probability so as to simulate individual reliability of a linkage over slow changing channel. Ergodic capacity is time independent and so it may not be suitable for improving wireless linkage over slowly changing channel. Hindrance between numerous sessions ought to be attended through employment of various techniques of medium access at the MAC layer. To do this various route ...

Abstract

This paper contains an email addressed to the chief officer executive officer of American Intellectual Union (AIU). The email briefs the CEO about the distribution and probability of few selected variables based on of AIU’s Job Satisfaction Survey Data

Dear CEO,

The purpose of this email is to provide you with information concerning the distribution and probabilities selected variables based on the AIU job satisfaction survey data. The email also contains a brief discussion of the use of probability and statistics in real world and organizations.

Overview of the Data Set

The job satisfaction survey data included nine variables which can be categorized as either qualitative ...

Binomial distribution

When do we use the binomial distribution?
The binomial distribution is very useful when there are very many trials conducted in an experiment, say n, and we want to get the probability of finding success where each number of successes has a given probability of occurrence. The probability of success is denoted by p while that of failure is the complement, i.e. (1-p) (Collani & Dräger, 2011). The binomial distribution gives some of the probabilities that are associated with repeated Bernoulli independent trials.

Characteristics of binomial distribution

For a binomial experiment, an action is repeated several definite number of times
The condition for ...

Life is a process of continuous learning, this is what I have realized in assessing all that I have learned in taking this course. This course allowed me to become conscious about the reason why many people constantly seek knowledge, and it made me appreciate the saying that knowledge is power. Learning is a cycle that starts from what one already knows, going toward other aspects that needs further understanding and knowledge expansion. Further, I realized that constant learning is important in many aspects of life, and especially so one needs to make critical decisions. A person should not ...

Introduction 2

Descriptive statistics 2
Inferential statistics 3
Regression analysis 3
Testing means using the T-test 6
Analysis of variance (ANOVA) 7
Conclusions 8

References 8

Term paper
Introduction
In this paper we are interested with will look keenly on the areas we have covered throughout weeks. In this case we will be looking at the descriptive statistics, inferential statistics, hypothesis development and testing, selection of appropriate test statistics and finally evaluating statistical results. This paper will reflect on these course elements in analyzing and making decisions about the data. We are interested with the type ...

The key strategic issues and problems facing the company

Company’s inability for gauging the trends
It is essential to refer to the fact that in the case of company’s inability for gauging the trends as well as addressing the changeable preferences of the customers in a prompt and costly effective way, there is a high risk of decreasing in the market share as well as the rates of sales. Such decreases have the potential of adverse affecting of the gross margin. It was claimed by the management of the CBA that the attention of the management as well as the costs, involved into the maintenance of ...

Empirical and Theoretical Probabilities

In order to distinguish between theoretical and empirical probabilities, we have to give definitions of both. Empirical probability is a probability is the estimation of the observing result of a real experiment. It is based on the number of favorable outcomes of a particular event and the total number of trials. The simplest example that demonstrates the concept of empirical probability is given below:
Consider the experiment, when you roll two dice 10 times in a row. You record the sum of values on each die. The results are: 7, 10, 5, 4, 11, 7, 6, 9, 7 and ...

The Error Rate, in probability terms refers to the number of mistakes/errors committed per a stated number of statistical attempts or actions. In the death row context, the error rate would hence represent the number of wrongful executions conducted per the total number of executions completed over a stated time period. Given the sanctity of human life, the Error Rate in capital punishment is only acceptable when it is at 0%. However, wrongful convictions are in most cases unintentional and regrettable and hence there is a need to mitigate the possibility of such occurrence and this can be greatly accomplished by the ...

Events in our life strongly depends on the probability. I often try to calculate probability of the events in my profession as well as in my real life. If my memory serves me right, the last such try was about week ago. I was in a good mood and I decided to buy a lottery ticket. I did not expect to win the jackpot seriously. However, I was wondering, what is my probability of winning the jackpot?
I knew that the lottery ticket contained six numbers. Each number was in the range of 1-50. I assumed that the lottery ...

A research sample is considered not necessary when dealing with a population that is considered to be under the same authority. That is a population that follows a directive from the same chain of command. Such a population it is believed would follow the same route and give the same answers to an inquiry made as to their mode of conduct. This kind of assumption was made, for instance, when researching about the conduct of the so-called disciplined forces. Its results were practical, for example on Stanley Milgram's research on obedience to authority. To prove to the readers that the Germans were in ...

In order to perform graph analysis let’s consult the Wall Street Journal article about May’s car sales in the United States. The article analyzes sales of cars and light trucks in the U.S. retail market in May 2013. In our research we will analyze a particular graph which depicts Top 20 most popular vehicles in May 2013. The article may be retrieved from http://wap.wsj.com/mdc/public/page/2_3022-autosales.html .

Now we can discuss 2 probability problems, which may be answered from the data in the graph.

Problem 1:
If in May 2013 you picked one of the newly bought cars at random from the top 20 list, what is the probability that it would be Ford F – Series PU?

Solution:

...

Question 1

In the movie, there are 3 doors, one door with a car and the other two doors with a goat on each. An individual wins the car when he selects the door behind the car. The host of the theory will never open the door with the car since he knows what is behind each door. The host Monty presents the choice for an individual to stick with door 1or else select the other doors. In Professor Rosa classroom, Ben finds himself in a fix to answer whether he could stick with door 1 or opt to chose from the other two ...

CCP Certification Technical Paper (Rev. 2013-07-10, Rev. 2014-06-05)

AACE Membership Number
List of Tables
List of Figures
Figure 1 – Contribution of Construction to GDP Growth 6
Figure 2 – Risk Management Process 12
Figure 3 - Risk Priority Number 15

List of Equations

Equation 1 8
Equation 2 16
Abstract
There is a sharp difference between construction and other types of projects. Then, it is essential to come up with proper risk managements strategies for the underlying types of project, as construction serves as the backbone for the economy of any country or state. A risk management strategy is composed off four different ...

Introduction

The Queuing theory is the study of waiting lines and has many applications in the real world. Since Waiting lines are seen everywhere in day to day life and business, the theory has become an important part of operations research. Examples of waiting lines are queues at a fast food takeaway or cars waiting to be repaired or patients waiting their turn at a clinic. Analytical models of waiting lines can be used for ascertaining and evaluating the cost and effectiveness of the model used in a given situation or setting. The present paper illustrates one of the queuing ...

Every event in our life depends on many factors. Some of these factors are predictable but the other can affect randomly. This makes our world stochastic and full of random values. Therefore, every measurement we take, every experimental data gives us not the precise but the most probable result. To estimate obtained results we use statistics methods. It gives us possibility to plan studies and experiments; to obtain, to summarize and to analyze results as well as to draw conclusions or to make predictions.
On the first step we need to choose appropriate data for analysis. Sometimes researcher ...

Part 1: Theoretical Probability

A. Use a tree diagram to list all possible outcomes of the experiment of rolling two
dice.
B. Use your tree diagram to finish filling in this chart.
C. Are the sums (2 through 12) listed equally likely? Explain your answer.
We may observe that the probabilities for the sums 2-12 are not equally likely, as each sum has different number of favorable outcomes. Sum 2 and 12 have the least probability (1/36), as there is only one way you can get 2 (1,1) and 12 (6,6). On the contrary, the result 7 is ...

Part 1: Theoretical Probability

A. Use a tree diagram to list all possible outcomes of the experiment of rolling two
dice.
B. Use your tree diagram to finish filling in this chart.
C. Are the sums (2 through 12) listed equally likely? Explain your answer.
We may observe that the probabilities for the sums 2-12 are not equally likely, as each sum has different number of favorable outcomes. Sum 2 and 12 have the least probability (1/36), as there is only one way you can get 2 (1,1) and 12 (6,6). On the contrary, the result 7 is ...

The main objective of this study is to understand, evaluate and analyze the fateful sentinel event, which struck Mr. B, who was sixty- seven years old and was taken to the Emergency Department (ED) of a sixty bed rural hospital. Mr. B complained to Nurse J of rigorous pain in his hip and left leg after he lost his balance and fell after tripping over his dog. The ED physician and nurse after thorough medical check up treated Mr. B. However, within thirteen minutes of the treatment procedure, Mr. B's health started deteriorating. He was kept on ventilator and was ...

A contingent liability is defined as a loss that may potentially occur at a future point, once some uncertainties are solved. Though it is not yet an actual liability, a contingent liability does impact the financial decisions of an organization. The financial impact of a contingent liability is shown in both the balance sheet and/or the income statement. In determining which contingent liability should be presented in the books of accounts, it’s important to determine the status of the contingency liability i.e. high probability, medium probability or low probability.
High probability; a contingency liability with a high probability has the greatest financial implication ...

Introduction

For the specification of the control of an aircraft, other parameters and equipment’s other than the basic aircraft control are required. This is because there are various dynamic performance criteria that need to be factored in the aircraft control system design.
The basic aircraft system requires a navigation and control so that it works efficiently. The basic structure of the aircraft system is identified as below with the various parts performing various functions:

Aircraft system block diagram

The stability augmentation and transient response improvement are provided by the estimation control of the linear feedback block of the system. The forward loop provides ...

Industry Overview

In the present market, the automotive industry globally encompasses the prime manufacturers, Toyota, Volkswagen, GM, Honda, Ford, etc., all operating in the global competitive marketplace. Since the second half of the 1990s, it is understood that automobile industry’s globalization accelerated with the construction of highly significant overseas facilities and the establishment of acquisitions and mergers between the global automobile MNCs (Hiroaka, 2001 p.1). In the year 2015, sales of passenger cars globally reached 73.9 million vehicles and the total sales reached above 90 million. On the basis of current growth rate, the automobile industry is expected to grow ...

The current project is devoted to various aspects of physiological psychology, which have been described by various scholars during the last decades. It will also give various opinions on the same questions regarding the main statements of these aspects. First, in order to have clear understanding of what is going to be discussed, the basic explanation of physiological psychology should be given. Certainly, it is a subdivision of biological psychology or the so-called “behavioral neuroscience”, which studies and researches various neural mechanisms of behavior and perception with the help of various controlled experiments, which include brain studies and manipulations (Pinel, ...

Introduction

The Hilton Hotels & Resorts is an international chain of service hotels and resorts that is under the flagship of the Hilton Worldwide. The company has over 530 Hilton branded hotels in close to 78 countries in six continents. The Hilton Hotels has been an industry leader in the hotel industry and continues to enjoy a huge market advantage in all countries that the hotels are in operation. The company is known for its quality service and its high-end customers. The chain of hotels has heavily invested in its premises and its staff to ensure that they offer quality service to ...

Management Career Decision Making: Quinn

(Instructor Name)
(Author Name)

Executive Summary

Quinn is trying to determine if doing his Ph. D. and setting up a business in leadership mentoring and coaching will allow him to achieve his goal of earning $200,00 per year, paying his two kids’ college tuitions and traveling around the world. His alternative is to continue on the basis of his two Masters degrees and try to reach a senior executive position. Through the use of decision-making tools, this paper seeks to help Quinn in deciding how best he can achieve his goals without taking on undue risk and possibly affecting his family.

Introduction

...

Probability is a very important tool in the business. Most companies’ uses probability in the decision is making to appraise financial and decision making risks, to generate business performance and uphold their information to industries and other competitors’ level. In making conclusion about various risks and different uncertainty factor play important role in decision making. Probability ideals are very important when such decision making are being made. These ideals are statistics and include different formulas and factors. The primary probability that are used in business decision making include; : objective of the business, a statistical model, the constraints in the business ...

- A 95% confidence interval for the mean income of shop assistants in a certain city is found to be (£12,000, £15,000). Explain briefly what this means. Would a 99% confidence interval be better than a 95% one? Justify your answer.
ANS – It means that there is 95% probability that the value of the parameter i.e. individual incomes of different shop assistants shall lie within the range of £12,000 to £15,000. Yes, 99% confidence level is better than a 95% one as it increases the probability of the incomes of different shop assistants to lie within the defined ...

Abstract

This memo capture some key quantitative information into nine sections which include things like gender, age, department, tenure, overall job satisfaction, and benefits realized through job satisfaction. The data collected is well analyzed which included the position of the qualitative data and extrinsic data as it presented in qualitative data.

Memo

It is my pleasure, to write to you, stating the benefit of having a database and appreciating the variables that are inclusive in it. I have personality researched and tested the database and I would like to give you the overview. Job satisfaction determines the level of commitment individuals will ...

Selling a security program

Recently, management at my place of work realized that the money coming from the vending machine is not equal to the receipts given and the quantity of products coming out of the machine. This was after conducting a cost analysis. It is obvious that someone interferers with the vending machine every now and then. Normally the person does not get more than 20 dollars and the least he takes in a day is 15 dollars. Using the decision matrix and the impact frequency matrix, I am ready to convince the company that there is a way out to get the person doing ...

Benford's law also known as the first-digit law deals with the distribution of natural numbers in which it tends to major into their importance regarding significance. The law states that given any arrangement of natural numbers, the smallest number always seems to be the most significant while the largest number in the collection is always the least significant. Therefore, number 1 appears to be the most significant in any given combination of natural numbers 30% of the times. While on the other hand, number 9 appears only 5% of the times as the most significant number. The law states ...

Discussion

One of the concepts of chapter three that is crystal clear is the application of additional rule on mutually exclusive events. This is because the concept requires one to understand the definition of a mutually exclusive event. Events are mutually exclusive if they cannot occur in the same period. One event must occur first. Thus, the probability of all the events occurring the same time is zero.
The understanding above tells me that the application of the additional rule is straightforward. For example, in a classroom, there are only two pupils a boy and a girl. The probability of ...

Psychology

Introduction
The use of Null Hypothesis Significance Testing as a statistical tool for research methods in psychology became a center of debate because of the perceived errors, which was associated to the misuse of the method and erroneous conclusion in some of the published scholarly journals. Many scholarly journal publishers particularly those that are specialized in the field social psychology suggests to ban the use of NHST and the Basic and Applied Social Psychology (BASP) acted upon on this call. On the other hand, proponents of NHST argue that the problem is not with the technique, but with the ...

Mass Shootings: How we can deter potential mass shooters in the US? List some major mass shootings in the US and identify some major similarities and major differences among them.
Mass shootings have become an issue in the United States. There are ways mass shootings can be deterred. One way is strict gun regulations. By making it hard for people to possess firearms, it makes mass shootings less likely. Also strict screenings and regulations can be put in place so people with mental health issues are not able to purchase a firearm. Also another more extreme example of a ...

Trigonometric computations are used in nearly all fields of geometry, physics and engineering. The triangulation technique has the great importance, which allows measuring the distance in astronomy and geography, monitoring the satellite navigation system. Also trigonometry is used in such areas as music theory, acoustics, optics, analysis of financial markets, electronics, probability theory, statistics, biology, medicine and so on. Daniel Bernoulli, Fourier and Cauchy made a huge contribution to the involvement of trigonometry and developed the idea of trigonometric series.
In the middle of the XVIII century, appeared the most important in its consequences "argument of a string". Euler ...

The daily lives of almost all people around the world are influenced by several quantitative data such as percentage, graph, chart, forecast, trend line and many others (Olson, 2007). Probabilities, uncertainties and chances are part of most of the decisions of every individual. In the daily lives of people, probabilities influence their small decisions such as clothes to wear or whether to take umbrella or not. Probabilities also affect larger decisions of individuals such as decisions regarding health, insurance jobs, financial matters and parenthood. In general, most of the decisions could be based on probabilities which are acquired every ...

There are several sampling designs such as simple random sampling, systematic sampling, stratified sampling and, cluster sampling as well as purposive and snowball sampling. This paper discusses how purposive and snowball sampling can be used in sampling human population. Purposive sampling is a non-probability sampling method. This means that it does not base its findings on probability but rather on a well analyzed research. Snow ball sampling method is also a non-probability sampling. Non-probability sampling methods are applied in the estimation of the human population as it is usually difficult to determine the population of human basing your sampling method on probability.
...

I have studied quantitative analysis for some time now I have a very big chance of getting an A Grade. Getting the A grade is determined by how hard I work in the subject. Only two situations are on the table; those are getting the A grade or failing to get it.The outcome of the event of sitting an examination and getting an A Grade or failing are mutually exclusive. (Pfeiffer, 1978). This is because either of the outcomes will happen out of my sitting the examination. Through putting a lot of effort, consistency and studying hard, the probabilities of getting ...

Introduction

Scientific as well as social knowledge have been in survived for a long time and the two bodies of knowledge are continuously developing due to the people’s need to fulfill their curiosity and explain various phenomena that are of interest to human beings. People continued to explore the world in order to increase their knowledge and make discoveries via research (Williams 2002). Scientists develop their knowledge by observing and recording what they observe and later analyze the information that they obtain from the data they have recorded so as to construct theoretical explanations of the phenomenon which was involved. ...

Latent Fingerprinting and its Reliability as Forensic Evidence

Introduction
The discovery and subsequent improvement in forensic science has been a road marred with many challenges. However, despite these challenges, its acceptance as a rudimentary source of evidence in the judicial system is fascinating. Nonetheless, there are copious number of skeptics who argue that the science is based on probability; thus does not fit to be termed as an actual science. (1) Among the source of their skepticism is in evidence collection. In this work, there is an exploration of fingerprint collection on diverse surfaces.

Ways of Collecting Fingerprint Evidence from different Surfaces

Fingerprints can be identified from several surfaces, which include the porous, non-porous, and semi-porous ...

Insurance refers to contract entered between two parties where one party obligates to compensate the other for a particular loss or damage. The agreement put forward usually has considerations which are in the form of regular payments. Parties involved in the contract process include insurer and insured. Insurer, usually a company, is a party that provides insurance cover to another party and provides protection for any loss that may occur in the future. Alternatively, the insured is the party that seeks protection from the insurer. Therefore, the insured agrees to pay a certain amount of money for protection against risks. This amount paid ...

John Q. Student

Augusta State University
Risk probability is defined as a likelihood in which a certain disastrous event may occur. This is measured through a scale of probability ranging from 1 to 99. Note that the value must not be either 0 or 100 because when the value is set to zero it suggests no risk and when it is 100, it suggests that it not a risk but a certainty. The probability value need not be exact provided that the method of obtaining the measure is consistent. For the purpose of organization, there are five designations in which risk probabilities are divided into; namely, ...

Blackjack is based on dependent events that have their support from probability mathematics. By dependent event, it implies that picking one card will be influence picking another card. In case of Blackjack, dependent event means every time one draws a card from the deck, the probability of drawing other cards with the time when others are not picked. This is to say the extent of picking a card depends on what card was picked in the first pick. For instance if you pick an Ace at the first time, the card has little chances of appearing once again rather the other ...

Abstract

Decision-making can involve a single decision or multistage decisions. When the decision-maker has to make at least two decisions separated in time, such as a situation where a company must first decide if it makes sense to hire an expert to make an actual decision about an investment. As the decision-maker goes on making decisions, the uncertainty diminishes. The probabilities are determined in a reverse manner when compared to regular decision-tree used for decision-making. The resulting process is Baye’s rule or theorem. The company wants to find out if hiring an expert so that he or she can ...

I have developed a personal study plan because I must follow a well-planned strategy to reach my goal of graduation, which is my definition of academic success (York, Gibson, & Rankin, 2015). Setting personal goals is essential for meeting goals according to MindTools (n.d.). I have reviewed my earlier behavior because I understand I am in a critical situation concerning my personal academic success. I have made the mistake of many of my friends by taking on more than I could handle without thinking through the consequences (Williams, 2005, para. 7). I must concentrate on presenting my best work in ...

Introduction and Company background

Owens-Illinois is one of the largest glass manufacturers in the world. Owens-Illinois (O-I) with 62% market share is the largest glass bottle maker in the world (O-I, 2015). The company has a century-long history of glass making. O-I has introduced the automation in the glass bottle making process in early 20th century. Presently, O-I has presence in four continents (APAC, EU, LA and NA) and has over 80 manufacturing plants all over the globe (O-I, 2015). O-I supplies glass bottles to many major beer companies and wine companies. O-I has posted a revenue of $6.9 billion in 2014-2015 with ...

Executive Summary / Abstract

Risk management is an integral part of the management of an organization. A management plans, organizes, directs and controls to achieve stated objectives. Planning is associated with uncertainty as it is done for future events. Risk management tries to understand uncertainties associated with an event or action. It assists management in achieving objectives of the organization by acting on the causes of deviation. It tries to mitigate adverse effects that can cause losses by identifying, analysing, evaluating and managing the risk. Risk management is a dynamic and continous process. Its success depends on the risk culture prevalent in the ...

Introduction

For any organization to maintain its well being, then risk management is very vital. Ideally, risk management guarantees the security of the organization spending and security control measures are observed keenly. For any organization to carry out risk management, appropriate and competent comprehension of the risks pertaining risks should be considered. That is; efficiency and effectiveness to observe the risks of the organization are essential. Taking into consideration the Justice and security organizations, there are myriad elements that are expected to cause operational constraints (Kolb, 2008). The performance of most justice and security organizations is assessed through its definite ...

Introduction

One of the frequently asked questions in astronomy is, “are we alone in the universe?” It is hard to believe that we are alone in this universe that is home to billions of stars and innumerable planets and satellites. The astronomical community is divided into two groups in the matter of opinions on this. According to one group of astrophysicists, there are many earth-like objects existing in the universe, and it is only a matter of time before we find out our neighbors. A few astrophysicists, on the other hand, cherish the notion that life on the earth is unique ...

- Identify one possible risk in adopting each of the potential alternatives.
The most possible risk present in purchasing a new fleet of truck would be whether enough financing could be achieved or not. This is because the fleet of truck is one of the non-current assets of the company like Building and Machinery. Acquisition of a new fleet involves considerable cost. It is important to arrange finance so that the new proposal could be afforded. Other risks such as experienced staff is not an issue for the company as it is already maintaining a fleet of truck for 7 or ...