H0: Mean body weight equals 150 lbs

Ha: Mean body weight not equals 150 lbs

Test statistic t = 1.788

Degree of freedom = 52

p-value = 0.080

For significance level of 0.05, the null hypothesis is not rejected. It is because the p-value is greater than 0.05. Therefore there is not sufficient evidence to conclude that the mean body weight is different from 150 lbs

H0: The distribution of level of education in the sample is same as the historical distribution

Ha: The distribution of level of education in the sample is not same as the historical distribution

The sample size is large enough (n=585) such that the chi-square test can be applied.

Since there are 5 education level, degree of freedom = 5 – 1 = 4

Critical value for significance level = 0.05 with degree of freedom = 4 is 9.49 (from the chi-square table)

From SPSS result,

Test statistic = 146.199

p-value = 0.000


Since the test statistic of 146.199 is greater than the critical value of 9.49, and the associated p-value is smaller than the significance level of 0.05, the null hypothesis is rejected at 0.05 significance level. Therefore there is sufficient evidence to conclude that the distribution of level of education in the sample is not same as the historical distribution.



The theory of demand and supply is of world fame and it is recognized everywhere. This law is very important because it is the first step towards how the prices of the goods will be decided and it helps shape the production of the goods and they also decide about the consumption of these goods as well. These decisions are what which makes any economic system.

The basic understanding of this law states that at any given time a price which is very high will leave the would be sellers with products which have not been sold and also if the prices are too less it will leave disappointed buyers minus the products they aspire to buy. So there is present an appropriate price which is easily acceptable to the buyers and the sellers so all those who aspire to buy a product gets sellers wishing to sell and those who wish to sell their goods can find buyers who are ready to buy. This right price is called as the market clearing price.

A free and competitive market generates an authoritative tendency toward the market clearing price, this proposal is given by the theory of supply and demand. It is often seen that this proposal makes a strong implication .Without any conscious managing control a market very spontaneously generates a tendency towards dovetailing of independently made decisions of buyers and sellers to make sure that each of their decisions fits with the decisions made by other market participants.

Let’s understand both the laws individually now:-


We come across law of demand in our day to day lives without ever realizing it. For Ex if I say that the average price of DVD movie is $50each, you will start calculating how many you want and how many your budget allows you to buy .At a lower price of$20 you can estimate how many more you want, but if the price is $10 you would automatically be ready to buy even more. This law states that as the price of the products decreases the quantity one is willing to buy and purchase increases.

Law of demand may come as a simple fact of life which we know and which needs no details but the actual theory behind this simple law is very complex which is called as Consumer utility maximization.

Demand Schedule

One can show a single persons decision about how many DVD movies to buy in a year in a table which is called a demand schedule. The DVD demand schedule in table below shows that as price of DVD declines the consumers increase

Table:  Single Consumer Demand Schedule


Average Price of DVD

$50 0
$20 2
$15 4
$10 6
$5 8
Market Schedule

The schedule we presented above is only for 1 consumer, but if we have to calculate service for all the consumers we derive a market demand schedule. For Example let us believe that a market has only 3 consumers Tom, Dick and Harry. We create a market demand schedule

Table 3-2. Market Demand Schedule for DVD Movies
Quantity Purchased
Average Price
of DVD Movies
 Tom   Dick Harry   Total
$25 0 1 0 1
$20 2 2 1 5
$15 4 3 2 9
$10 6 4 3 13
$5 8 5 4 17

The Market demand schedule always effects to a specific population and for a definite period of time. The number of DVDs demanded by students of a university will definitely be lower than the number of DVDs demanded by whole nation.

Demand Curve

It is an in graph representation of market demand schedule and also of law of demand. It shows quantities of goods or service that customers are ready to buy at different prices.

Traditionally demand curve is always drawn with prices on the vertical or Y axis and things demanded on the horizontal or X axis. (Source:Ace)

Market Demand Curve for DVD Movies

The Law of Demand implies the following with respect to a demand curve (all of these say exactly the same thing):

    • The demand curve is downward sloping
    • The demand curve has a negative slope
    • The demand curve shows an inverse relationship between price and quantity demanded

The Law of Supply

As consumers get affected by prices firms also get affected but in the reverse direction. As customers like low product prices the firms like high product prices, when the rise is seen in the price of a product the firms have an incentive to add additional resources and to increase their production. Law of Supply states that the firms will produce more and more quantities for sale but everything else should not change. The theory behind this law depends on Principle of opportunity costs. When a firm produces some thing it first uses its most efficient resources first. But as production increases it has to use off its less efficient resources also and this leads to opportunity costs. One cannot increase production and incur those costs unless one is able to sell his products at a higher price.

Supply Schedule

One can form individual supply schedules and market supply schedule. For  an individual firm as price of any product soars high the firm readies up to produce more .At that time the higher costs will cover extra costs such as paying labor overtime rates. The market supply curve will then be the sum of supply curves of individual firms.

Supply Curve

When we show a graphic representation of market supply schedule and law of supply it is called as the supply curve. It shows the quantities of products or services which all firms are willing to produce and sell. The figure shows the supply curve

Ceteris Paribus Assumption

During explanation of Law of Supply and Law of Demand an important statement was given on both and that is “given that everything else remain unchanged”. This is referred to as Ceteris Paribus Assumption. It is just not made for any convenience but it is an important condition for each law to hold. For Example, when a demand curve is drawn its entire purpose is to show how the demand of the product is influenced by only its price. Ceteris Paribus assumption is very significant and holds utmost value in the field of economics. Without its presence the laws of supply and demand cannot be called as complete.

The major variables covered by Law of Demand ceterius paribus assumption are

A   the market size (eg Population)

B  Tastes and preferences of consumer

C  Income

D  Price of other related products

For Law of supply ceteris paribus assumption following do not change: –

1. Prices of inputs to production process (labor, raw materials, and cost of capital)

1        Technology

2        Price of products from same resources or production process

For market to function properly the law of supply and demand is a must. It says that the ones who produce the goods must supply the goods to the consumers. And together they explain how a particular product must be charged

If we take an example of a cell phone manufacturing company  and say that a particular company after a huge market research invests to produce 2000 units and puts them for a sale of Rs 35000 each. When the phones hit the market half of the customers find the price to be valuable enough for the facilities’ provided and they end up buying the product. As a result half of the units get sold. But because of its high price sales become less. It’s because there are people who want to buy the product but they cannot buy because of its high price. Now as the company starts getting losses it reduces its price to 30000. In the market the phone gets popular because of its features and once its prices are a little low people start buying again. This process continues till both consumers and producers reach a price that meets both demand and also increases the profits. This price is called as market clearing price. This state is called as of equilibrium.

Thus Law of Supply and Demand hold a major significance in the financial world. If we say that it is actually one of the pillars of financial industry it won’t be an exaggeration. This law actually determines the actual pricing of a product and its sale in the market.

Reference: –






International Student Applications


  1. Israel- Sodastream



Eliav Dotan

New York, USA.

Phone: 12-90905002

E-mail: eliavdotan@gmail.com



Aspire to be part of a reputed corporation as a Chief Sales Officer to provide my best services based on my best professional efficiency.



  • Proven ability to lead sales teams to achieve multimillion-dollar revenue gains. Offer an in-depth understanding of the sales cycle process and remain focused on customer satisfaction throughout all stages.
  • Top-ranked sales manager with a four-year history of sales success. Recognized for contributions to record-setting sales figures, territory startup/expansion and new account development.




Pointer Palmolad (Afula, Israel)

Sales Representative (4/2010- present)

  • Visit several stores per day to have the status and replenish the stock.
  • Interact with the customers to sell the products directly.


  • Introduced new gasket lines into the market, often closing sight-unseen sales of newly released products.
  • Fostered a robust, sustainable network of buyers from Maine to Florida, leveraging strong listening, presentation and closing skills to optimize sales results despite previously dominant competitor advantage.
  • Demonstrated an unwavering commitment to customer service, adding new customers while maintaining premium service levels with existing accounts.


Kingsland (New York, USA)

Marketing Executive (2/2009- 3/2010)

  • Record the daily sales to assess self-performance.
  • Make available to the customers beauty advisors to make available the services to the customers.


  • Surpassed sales goals by 19% in 2009 and 14% in 2008.
  • Recognized for superior performance as a two-time district “Employee of the Month” honoree.
  • Increased sales of company-owned paint sealants by 24%, selling $245K in sealant products in 2009.




Sales Team Supervision

Territory Management

Presentations and proposals

Closing Strategies

New Account Development

Sales Training

Relationship Building


Lead Qualification



Buzway University- New York

Bachelor of Science in Business Administration, 4/2008



Mother Tongue Language



Additional Information:

Date of Birth: 12/3/1987

Place of Birth: Massachusetts


Reference Link: http://www.sodastream.com/node/927/ISRAEL



  1. United Arab Emirates- Abu Dhabi Investment Council

A posting for a Senior Relation Manager


Dear Ahmed Said,

I am applying for the position of a Senior Relationship Manager in Abu Dhabi Investment Council. I found an advertisement about the position calling for applications for the position in Forbes magazine and Business News. My five years in sales has provided me with a huge experience in management and customer-care which your corporation will find desirable.  I am attaching my resume to this mail for more information.

My experience in the sales profession gives me a unique aptitude applies the latest technology, in all its forms, to business processes. I have excellent communication and listening skills, ability to complex information clearly and simply, good sales and negotiation skills. In the job I am applying for, the plenty of drive, initiative and motivation is required which describes me.

I have worked in Coca Cola where I have broadened my perspective and improved my career perspective. This happened through solidifying client partnerships by performing hands-on needs assessment, negotiated enhanced tier structure for the Corporation to beat the competitor’s attractive Contributed positively to bottom line by up-selling value-added services to existing accounts. Lastly, I improved customer satisfaction ratings by ensuring delivery of quality products and outstanding service, and keeping clients abreast of new technologies and industry issues.



Reference Link: https://www.djortho.apply2jobs.com/ProfExt/index.cfm?fuseaction=mExternal.showJob&RID=2619&CurrentPage=8&sid=71




3, TCL Corporation-china

Posting for the position of a Regional Sales Direct


Kim Bontao

Chanx 3330 boun Street

Hong Kong, FL 328546



Lead Chong

Hiring Manager

TCL Communications

Kixxing Line 2,




Date: Jan 17, 2014


Dear Hong,


With a reference from Tonk Lee, I am writing this cover letter in hopes of obtaining your Regional Sales Director position that I found advertised in Chicago Tribune today. I hereby place my application because I believe I have the necessary skills and techniques obtained through an extensive experience, such as solid communication skills and sales talent.

Without wishing to sound boastful, It is my feeling that I come to you with a rich six years of experience which has made me to become a professional in selling the products of my former companies to many regions of the country and across the border. This was only possible through use of the best practice sales techniques, developing territories, defining of sales goals and achievements, initiation of new product marketing, management and training of sales professionals, and managing existing and new sales accounts. My former employer and workmates thought that I am a born seller especially in my long working with trade shows, both in person, and through digital and phone communications. What motivates to come to your esteemed company is because of my demand for sales excellence which emanates from track record that is unparalleled in achievement. This potential is coupled with my natural enthusiasm that gives me the ability to make customers to make customers to purchase more.

Given a chance to serve in the position I am applying for, I will have an opportunity to meet my strong desire to build my career within your company thus making it possible to run the operations in company successfully. It is this point and my ability to create an exciting buying experience that has prepared me thoroughly for the position I am applying in your organization. I live and work with the following core principles:

  • Taking responsibility for all sales, strategies and activities
  • Being on the lead in developing growth of revenue, acquisition margin profitability.
  • Analyzing markets and dates for the purpose of determining the potential for sales growth which is necessary to reach revenue targets.

With my strong intention to work in a reputable and prosperous corporation like yours, I believe a stage will be set for my talents. With much appreciation in advance, I welcome an opportunity of an interview during which much details will be discussed thus creating a forum of informing you about the value and strength I will bring to your company which is already successful.  You may get in touch with me through (123)-150-6921 You will find more information about my abilities in a resume attached to this cover letter.


I thank you for your time and I look forward to hearing from you.



James Tompkins

James Tompkins


Reference Link: http://www.linkedin.com/jobs2/view/7300671


  1. DJO GLOBAL- Mexico

Cover letter for the position of Sales Territory Manager

Lupita Paolo

Kliacre 4001 Street

Taxco,FL 595



Paul Pappila

Hiring Manager


Sao Paolo



Dear Olivia Christopher,


Following the advertisement made by your Company four months ago on the Linkedin for a Sales Territory Manager, I hereby place my application for the position. Having read through the job description, I have the confidence that I am best suited for this position based on my abilities and experience which precisely match the requirements required by your organization. I have worked in both sales and sales management positions in a wide range of media sales environments capacities for more than three years and achieved all the objectives set. I have a proven record with an ability to work independently.   I have recently completed a contract position as Sales Manager for a media company whose products include print, consumer promotion and online properties. I possess a valid Driver’s License and current automobile insurance and PC Literate.

As a sales Territory manager, I have had experience in recruiting, developing and mentoring strong focused and creative sales teams across the country for 2 and half years. I possess solid management skills, sound creative and strategic sales skills and derive tremendous satisfaction from working within a team focused on driving sales and satisfying advertisers’ objectives in a collaborative manner. Most of this experience was gained during my 1 to 2 years in Orthopedic Sales and knowledge of Durable Medical Equipment. In this period I gained much knowledge of healthcare insurance and third party reimbursement requirements. Behind my experience are excellent sales and interpersonal skills as can be evidenced by previous successful sales experience. I currently live in Sao Paolo hence in the vicinity of the company. My qualification is supported by my possession B.A. in Marketing.
I have the energy, vision, driver, leadership and implementation skills which enables me to be personally committed to continued excellence and growth of the multinational corporation. It is my belief that my experience in sales, sales management, marketing and sales training qualifies me for the position and inspires me to make a positive difference to your company.

My education and professional development is supplied in detail on the resume I will attach to this cover letter. I will be glad to elaborate on any of this information I have provided upon given an opportunity to meet face to face. My previous tenure of four years is a testament of adaptation, dedication and penchant for learning and growing professionally. It is my hope that you will be interested in my ability and track record which will be beneficial in achieving very important goals in each financial year and long term dreams. It is my determination at the same time to enhance your company profile. It is therefore my sincere hope that you will allow me the opportunity through an interview to demonstrate my value to your company.

Thank you for your time and consideration.



Paola Pappilla


References Link: https://www.djortho.apply2jobs.com/ProfExt/index.cfm?fuseaction=mExternal.showJob&RID=2619&CurrentPage=8&sid=71






































MBA FM Module Assignment 2




Write a report for the New Heritage Doll Company on which new product they should adopt supporting your argument with full workings. This is an individual project.


New Heritage Doll Company Report


New Heritage Doll Company is a firm that has ventured into Doll production which has sought to extend its brand in order to broaden its market framework and more importantly capitalise on high levels of customer loyalty. The vice president of the Company, Emily Harris is to forward her project proposal to the Budgeting Committee for evaluation. The Vice-president’s objective for proposing the project stood out based on potential to strengthen the Company’s division of production and to drive future growth. Emily Harris has to produce a compelling project to avoid the committee to decline the proposal.


Basis of assessment

There are two projects between which the company will have decision option to accept or drop the proposal. The method of project evaluation would be based on discounting cash flows (DCFs) and thereafter determining the Net Present value (NPV) of each of the proposed project. The project proposal with the positive and highest NPV would be acceptable for investment. If the project has a positive NPV suggests that such a project is generating more cash than is required to service the debt and to provide the appropriate returns to the firm’s shareholders and this cash accrues solely to the firm’s shareholders. If the firm projects generate a negative NPV then the project is not feasible.


New Heritage Doll Company managed to produce a capital budgeting structure in order to evaluate the revenue generated in the Doll industry. It is clearly evident that, a segment of the Doll industry generates the income progressively with an increasing rate of 4.6%. It is a project that has a going concern as illustrated;


The Doll industry Company revenues outlays: market for doll toy and game industry


year 2008 2009 2010 2011 2012 2013
Cash outlays $(000) 42 43.93 45.95 48.06 50..27 52.5


Cash flows forecast is used to capture the incremental effect of a proposed project in order to acknowledge the breakeven point and profit or loss time frame

If the company continues with its investment in for toy and game segment it is going to experience the economies of scale and have high operating profits.

However, for a company to embrace another project proposal it has to oversight its financial capacity to fund the project .Meaning for any project which does generate insignificant revenues the Company must cultivate the capital rationing. Similarly, the Company must consider some factors in the assessment of project’s risk. Factors considered in the assessment of a project’s risk include;

(a)Whether the project product’s required new traders or consumers who are willing to accept the goods or services rendered by the Company

(b)Where the project proposal requires high level of the fixed costs, the project to be appraised is at very high risk considering such costs do not generate high returns.

(c)Sensitivity of the selling price of the finished goods

(d)High level of breakeven production volumes


The Heritage Doll Company is appraising two proposed projects that are; Design My Doll and Match My Doll Clothing. The Vice president must have a compelling reasons and factors to influence the Budgeting Company to accept the project for implementation.

The theoretical reason behind “Match My Doll Clothing” to be implemented by the Company Budgeting Committee is that;

(a) The products produced do fully match all season clothing for the young girls and their preferred doll;

(b)Popularity of the Company’s product

(c) It was the best time for the expansion due to its popularity

For the Design Your Own Doll;

(a)The Companies products would have high correlation with the consumers

(b)The Company’s doll can be customized based on the tastes and prefers by the consumers

(c) Permanent customer loyalty

(d) Dolls could command a continued selling proposed

(e)The Company has the potential to strengthen and the future growth


The Company is also limited to take this project due to the following reasons for proposal;

(a)The Company Low production runs and volumes

(b)Limited gradation of customization increased manufacturing complication, the production costs increased with a significant rate

(c) Increased development cost for the technology modification and infrastructure

Practically the proposed project is to have the following investment costs;


Match my Doll clothing line and Design My doll cash outlay




Titles Initial expense$(000) Upfront R&d$(000) Investment in working capital$(000) Property, plant and equipment$(000) Total cost $(000)
Match my Doll clothing 625 625 800 1470 3520
Design my Doll 841 360 4610 (1000) 5811
Difference (216) 265 (3810) 2470 (2291)


This means that the Design my Doll has got higher Total cost by $ 2291 than the Match my Doll Clothing. If Company uses the total cost to appraise these projects the Match Doll clothing would be feasible for acceptance since it has less of capital invested on it yet much returns would be realised. Design my Doll would be rejected due to its high costs of investment.

Critically, the prudent way to evaluate the Company’s feasibility in order to invest on it is by analysing the returns or the operating profits. If the firm’s is to experience some losses the Company should reject such a proposal otherwise accept the proposal. However, if the firm is operating at a breakeven point the Company may have the option to forecast whether it is a going concern.













 Presentation of DCFs and arguments for assumptions Match My Doll Clothing Line

Total cost= $ 3,520,000

Terminal Cash flow in 2015= $361,000





Using NPV analysis

Year Operating profit $(000) PVIF,9% PV
2011 583 0.9174 534.84
2012 994 0.8417 836.65
2013 1277 0.7722 986.10
2014 1392 0.7084 986.09
2015 1503+ 361 0.6499 1211.41




NPV $(000) = 4555.09- 3520= 1085.09

The NPV is positive meaning that the project is feasible.

Internal rate of return

IRR=a+(A/A-B *a-b)%)

IRR=12%(1945.1/1945.1-2267.44) * 7% -12%)




1250 1.OO 1250 1.0 1250
583 0.8929 520.56 0.9346 544.87
944 0.7972 792.42 0.8734 868.16
12.77 0.7118 908.97 0.8163 1042.42
  NPV 1945 NPV 2267.41








Design My doll Clothing Line

Total cost $(000) = 5811+1000+435= 7246

Terminal Cash flow$(000)= 875

Using NPV analysis;

Year Operating profit $(000) PVIF,9% PV
2011 550 0.9174 504.57
2012 1794 0.8417 1510
2013 2724 0.7722 2103.47
2014 2779 0.7084 1968.64
2015 2946+ 875 0.6499 2483.21



Design my Doll

(1201) PVIF12%


PV TRY 7%  
(1201) 1.00 (1201) 1.0 (1201)
550 0.8929 491.00 0.9346 514.03
1794 0.7972 1430.18 0.8734 1566.88
2724 0.7118 1938.44 0.8163 2223.60
3821 0.6991 2671.26 0.7629 2915.04

NPV                 5329.96              8419.55

NPV $(000) = 8569.95- 7246= 1323.95

The NPV is positive meaning that the project is feasible.

IRR=12% (5329.96/5329.96/5329.96-8419.55) *7%-12%)



Conclusively, both of the projects are feasible but Design my Doll has the higher Net Present value $ 238.86 than the Match My Doll Clothing. This means that the Company would accept Design My Doll for its investment. It again means that this project, Design My Doll generates high cash flows compared to the other, match my doll clothing. High returns is for the company would be realized, and therefore the projects that the Vice President, Emily Harris would go with is Design my Doll. One of the key distinctions between the two projects, Match My Doll Clothing and Design My doll is that the two are mutually exclusive projects. These are projects are those whose cash flows are related, they do have the same function and they thus compete with one another. This means that the acceptance of one project eliminates from further consideration other projects.


Working Capital Assumptions

Minimum Cash Balance % of Sales


  2012 $(000) 2013 $(000) 2014 $(000)
Match My Doll 3% x 6860= 205.8 3% x8409= 352.27 3% x 9082= 272.46
Design My Doll 3% x 6000= 180 3% x 14360= 430.8 3% x 20222= 606.66





It is assumed that the working capital is apportion or percentage ratio of revenue generated from sales and capital itself comprised approximately 15% of the Company’s earnings before income taxation and it is within the Capital budgeting of New Heritage Doll company.


Sensitivity analysis

The Company should maximize on Cash management by capital rationing on the project accepted.Net present Value of the project should be implemented as it reflects the time value of money invested in the accepted project. Similarly this can be further be elaborated by computation of IRR of each two project proposal








Let 12%be b

9%=be a

(1250) 1.00 (1250)
583 0.9174 534.844
994 0.8417 836.65
1277 0.7722 986.10
1392 0.7084 986.10







12% be b

9% be a

(1201) 1.00 1200
550 0.9174 504.07
1794 0.8417 1510.0
2724 0.7722 2103.47
3821 0.7084 2706.80

Npv =                               5623.84


IRR=9%{5623.84/5623.84-5329.96 * (12%-9%))



The internal rate of return is the most critical method to determine the decision option for accepting the project proposal. In this case Design my Doll again has the highest IRR meaning it has the highest operating rate of returns with the shortest payback period of the cost of capital and therefore it is opted to be accepted.


Recommendation and its support by discussion and analysis

Design My Doll is best project proposal to be accepted instead of Match My Doll by the Budgeting Committee since it has the higher Net present value, Higher IRR and the shortest payback period as it is computed above.