Both Chapters 10 and 11 are required reading. Chapter 11 was actually assigned in Week 6 but primarily needed there for the study of ANOVA. Here it is needed for the study of the Ch-Squared Tests. Note also the additional readings listed in Week 7 to supplement the textbook.
Do the following five problems this week (20 points each). None are difficult, but each requires patient thought and careful calculation. Aim for quality. Full explanation of how you solved each is required.
The following sixth problem is also required. It needs to be done to conclude the topic of ANOVA from Week 6.
It will be used as a Makeup Problem to regain half of the points lost regarding the grade in the above. For example, if the grade was 82% and one received 95% on this problem, the updated grade will be 91%. This is 95% of ½ = 0.475. 0.475 (100-82) = 8.6 and 82 + 8.6 = 91.
Legal Factor may often be overlap with political, however it involves more specifics laws such as health and safety law or consumer protection law. Organizations should know what is legal and what is not in order to run businesses ethically (B2U – Business-to-you.com, 2019). Health and safety law is needed so that the company will hold responsibility for the workers. It is the company’s responsibility to ensure that the workers are treated ethically. In addition, consumer protection law is to protect consumers from buying milk that are of low quality or other aspects that A2 Milk guaranteed but not fulfilled. Furthermore, Food standard codes is required for to comply with the laws of standard in operation. Conclusion on PESTEL Analysis In conclusion, PESTEL seeks to address opportunities and threat which A2 milk may face from external environment. It is crucial to note that all factor from this analysis would have a huge impact to A2 milk. This will allow A2 Milk to make better choices for the company in the future. INDUSTRY ANALYSIS (PORTER’S FIVE FORCES FRAMEWORK) The industry analysis is a framework that helps to determine the attractiveness of an industry that highlights five competitive forcers including threat of entry, threat of substitutes, bargaining power of buyers, bargaining power of suppliers and the extend of rivalry between competitors. Furthermore, it can help organizations to build sustainable competive advantage in the milk industry. The threat of entry This determines how easy it is for new companies to enter a particular industry. When the barriers of entry into an industry is high, there are lesser businesses entering the market due to strong competition and vice versa (My Accounting Course, 2019). In this industry, it is hard to enter because the threat of entry is low, hence causing the barrier to entry is high. The following factors are some reason that justify the low threat of entry. The economies of scale is hard to achieve therefore, causing the production to be more expensive for new companies. Production differentiation is strong as in this industry all company sells differentiated products. Customers also look for differentiated products. Therefore, the threat of entry is low. Capital requirements are high in this industry and its hard for new companies to set up businesses with the same expenditures incurred by existing companies. Government policies also ensure that many regulations need to be followed before companies can start selling their product in the market. This enforcement makes it hard for new companies to enter. Therefore,>GET ANSWER