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Three envelopes with different values, you choose one. Would it be beneficial to trade or keep your envelope?

Three envelopes with different values, you choose one. Would it be beneficial to trade or keep your envelope?. I need an explanation for this Statistics question to help me study.

I think this problem is harder than it seems? … I’ve been stuck on it for a while. Typed or handwritten is fine, as long as its clear… I’m trying to understand how to approach this problem in the future and the internet has not been much help.
“I put three marked envelopes on my desk. One contains a check for $1,000,000 and the other two contain a check for $1.00. I let you pick one envelope to hold. I select one of the two remaining envelopes and open it showing you a check for $1.00. Now, I ask you if you would like to keep your envelope to open or instead choose to open the remaining envelope on my desk. (a) What is the probability you’ll win if you keep the envelope in your hand, and (b) what is the probability you’ll win if you instead choose to open the remaining envelope on my desk? Explain in words, equations, or diagrams.”

Three envelopes with different values, you choose one. Would it be beneficial to trade or keep your envelope?

ESC 1000C St Petersburg College ENSO El Nino and La Nina Concept Sketch.

You’re going to do a concept map of the El Nino Southern Oscillation here’s how you do that. 1.First, get an 11×17 piece of paper. If you don’t have a piece that big you can make one by taping two 8.5×11 (that’s normal size) pieces together.2. First watch the EL Nino and La Nina Explained Video.3. Using Figures 9.6.1, 9.6.2, and 9.6.3(Attached below) construct sketches of cross-sections of ENSO Normal (non- El Nino) conditions, El Nino conditions and La Nina conditions. Now labeling, label everything you can possibly think of for each cross-section. We want this concept map to include everything any reasonable person could want to know the ENSO system. You should have THREE sketches when you are finished. Some things to think about:Dates, Dominant winds, Location and approximate depth of warm and cold water in the equatorial Pacific, Weather patterns on either side of the Pacific, Air temperature, and Direction of equatorial currents 4. Label your concept sketches with every possible thing you can think of. This should help you see and make sense of patterns in the global climate system. Feel free to be creative, get some colored pencils, and do it in color if you want. Draw little mermaids and Sponge Bob Squarepants if you want. Have all the fun you want with it. The important thing is to get the information on there so you’ve worked with it, you can see it and your brain can assimilate it. (resistance is futile)Once you’ve finished your concept sketch, PHOTOGRAPH IT (Note: it might take more than one picture to do it justice) and submit your photos to a Word Docx
ESC 1000C St Petersburg College ENSO El Nino and La Nina Concept Sketch

I need your opinion without resources.

please write as high school students because English is my second language.Also,i just want one easy paragraph 4 sentences when you finish I have to replay for my classmates just agree with them and why in one sentence.Instructions: You will read question or prompt completely. You will respond or follow the directions of the prompt. Then you will reply to at least two of their peers.Question/prompt: In the chapter it is noted that there are gender inequities in school sports, professional sports, Olympic and Paralympic sports, and informal and alternative sports. In which two of these realms will it be most difficult to bring about gender equity? Explain why you made your choices. Instructions: Student will read question or prompt completely. When you see the term discuss, you should think describe or explain your point of view and provide supporting evidence. You are to complete each assignment utilizing complete sentences in paragraph format. You will provide a response or follow the directions of the prompt. Then you will reply to at least two of their peers.Question/prompt: What are the brand associations with a team, and what can a sport marketer manipulate to make the brand associations more positive?
I need your opinion without resources

CJHS395 University of Phoenix Risk of A Dual Relationship Exists Resources HW.

Prepare a script of an interview with a problem client write the script out as a Questioner. You as the interviewer asking a problem client the questions you as a team develop. Show the client answers to the questionnaire.Summarize a potential problem client write 750 to 1050 word summary of the potential clients and their problems.Identify at least four resources for the human service worker to find tools or support to address the problems and the client. Create the paper as though it is representative of a client and human services worker conversation in which the risk of a dual relationship exists. Write the questions out as a Questioner that Human service workers would use to conduct a needs assessment. Show the clients answers to the questions.Demonstrate how the client may test the boundaries and demonstrate how the human services worker may create appropriate boundaries in the dialogue.Format your paper should be consistent with APA guidelines to support the summary portion of the assignment.Write about a client who is a mother and is suffering from drug abuse.QuestionnaireType of client we are helping/ SummaryRESOURCE #1: used by human service worker to find tools or support to address the client’s problem.RESOURCE #2: used by human service worker to find tools or support to address the client’s problem.RESOURCE #3: used by human service worker to find tools or support to address the client’s problem.RESOURCE #4: used by human service worker to find tools or support to address the client’s problem.Conclusion
CJHS395 University of Phoenix Risk of A Dual Relationship Exists Resources HW

Acute Care Patients with Indwelling Catheters Discussion Paper

Acute Care Patients with Indwelling Catheters Discussion Paper.

Topic: In Acute care patients with indwelling urinary catheters, can the use of care bundle approach and catheters insertion versus not using the care bundle approach reduce the infection rate of CAUTI.In collaboration with the approved course preceptor, students will identify a specific evidence-based topic for the capstone project change proposal. Students should consider the clinical environment in which they are currently employed or have recently worked. The capstone project topic can be a clinical practice problem, an organizational issue, a leadership or quality improvement initiative, or an unmet educational need specific to a patient population or community. The student may also choose to work with an interprofessional collaborative team.Students should select a topic that aligns to their area of interest as well as the clinical practice setting in which practice hours are completed.Write a 2 page paper description of your proposed capstone project topic. Include the following:The problem or issue, intervention, quality initiative, educational need, or collaborative interprofessional team project that will be the focus of the change proposal.The setting or context in which the problem or issue, intervention, quality initiative, educational need, or collaborative interprofessional team project can be observed.A description (providing a high level of detail) regarding the problem or issue, intervention, quality initiative, educational need, or collaborative interprofessional team project.Effect of the problem or issue, intervention, quality initiative, educational need, or collaborative interprofessional team project.Significance of the topic and its implications for nursing practice.A proposed solution to the identified project topic with an explanation of how it will affect nursing practice.You are required to cite to a minimum of eight peer-reviewed sources to complete this assignment. Sources must be published within the last 5 years, appropriate for the assignment criteria, and relevant to nursing practice. Plan your time accordingly to complete this assignment.This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
Acute Care Patients with Indwelling Catheters Discussion Paper

Sociology homework help

essay writer Sociology homework help. Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization. For this task, you will select a business that would like to develop new products and services in order to attain a competitive advantage in the global market.,Marketing managers for global organizations are often asked to evaluate,Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization.,For this task, you will select a business that would like to develop new products and services in order to attain a ,competitive advantage, in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond.,For example, a natural foods company may need to begin offering an online ordering system to remain competitive. If you discover a market exists for a new natural food product that is desired in other countries but not readily available there, this might be a good product to recommend adding, but you should first determine whether it is feasible.,Select a business from one of the industries listed below:,Firstly, Agriculture,Secondly,  banking,Thirdly,  Hospitality,Fourthly,  Healthcare,Further,  Retail,Moreover,  Transportation,Lastly, Technology, ,Note:,Please choose a business that can be adapt ed to a global market. Any information that would be consider ed confidential, proprietary, or personal in nature should not be include d in the actual task submission to WGU. Do not include the actual names of people, suppliers, the organization(s), or other identifiable information. Use fictional names. Also, include organization-specific data, and including financial information. Work performed for a client or an employer is their property and should not be used without written permission.,REQUIREMENTS,Your submission must be your original work. No more than a combine d total of 30% of the submission and no more than a 10% match to any one individual source can be directly quote d or closely paraphrase d from sources, even if cited correctly. The originality report that is provide when you submit your task can be used as a guide., You must use the rubric to direct the creation of your submission because it provides detailed criteria that will use to evaluate your work. Each requirement below is in evaluation by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.,Note: Submit your Assessment in Microsoft Word or PDF format., A.  Develop a proposal for your chosen business’s global strategic marketing plan in which you do the following:, 1.  Identify two new products and/or services that the company can sell or offer to a global market., a. Discuss three different methods you used to determine that there is both a need as well as an existing global market for these products and/or services.,b. Explain one competitive advantage that the company will gain by offering these new products and/or services to a global market.,c. Discuss two inherent risks associated with launching the new products and/or services to a global market and how to minimize these risks., ,2.  Discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.,a. Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.,3.  Discuss at least one distribution channel for the two new products and/or services.,a. Analyse key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).,b. Analyse how the global supply chain may affect the product or service.,4.  Discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services’ position within the overall market strategy of the global marketplace.,a. Identify costs associated with developing and launching the new products and/or services.,b. Evaluate consumer acceptance of the price set for the new products and/or services.,c. Evaluate competitor prices for similar products and/or services.,5.  Discuss the promotional strategy you will use to promote your products and/or services in a global market.,a. Identify two mass media and two social media channels you would use to promote your new products and/or services in a global market.,i. Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, and behavioural characteristics),b. Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.,B.  Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.,C.  Demonstrate professional communication in the content and presentation of your submission.,Attachments,Click Here To Download,Sociology homework help

Florida State Impact of Parenting Styles on Career Choices of Adolescents Questions

Florida State Impact of Parenting Styles on Career Choices of Adolescents Questions.

I’m working on a writing project and need support to help me study.

Term paper (50 points)Thank about your own experience when you were a child. Think about your parent(s)’ parenting behavior. And address the following issues:1. Pick one particular parenting behavior (positive or negative) that you feel strongly about. Explain such behavior. (5 points)The following questions are all based on this particular parenting behavior:2. What are the impacts of such parenting behavior on you at the time (when you were a child)? (5 points)3. What are the long term impacts of such parenting behavior on you now (when you are a young adult)? (5 points) 4. Based on your search (e.g., Google scholar, library search, lecture notes, textbook, required readings, etc.), explain what does research suggest about the impact of such type of parenting behavior on offspring. Include at least ONE research study (use citation, e.g., Amato’s 1996 study suggests that…) and be specific. Also, put the reference at the end of the answer (for format, see examples from the reading list in syllabus page 8). (15 points)5. As a family scientist, if you are asked to design a parenting workshop and to create a handout on this particular parenting behavior, what key points/tips would you include in this handout? (15 points) Requirements1. Follow APA format of writing (5 points) in terms of: APA citation and references, double space throughout, 1” margins on all four sides, Times New Roman 12 font.2. Page length requirement: 3-4 pages (you can copy paste the above questions in a Word file and start typing your answers under each question).3. See grading rubrics in syllabus. 4. Due date: See syllabus. Submit by uploading your word file here.
Florida State Impact of Parenting Styles on Career Choices of Adolescents Questions

Business Plan And Executive Summary For A Gym Business Essay

Business Plan And Executive Summary For A Gym Business Essay. Executive Summary The location of the gym will be on a main road with good parking facilities. This will help the gym grow with members as it attracts people because of the location and give people advantages to join the gym with ample parking. There isn’t much history about the gym because it is a band new business but the idea came to me about 5 months ago when i wasn’t satisfied with what other gyms offered to customers. The business is situated in the retail sector because it provides gym equipment to people who don’t have room at their houses or they cannot afford all the equipment themselves. The Prime function of the business is to provide gym equipment to people as well as help them achieve their fitness goals. The gym offers a wide range of products and equipment starting from bags, drinks and clothing to dumbells, treadmills and benches. (Cambridge Preliminary Business Studies – page 269) Purpose of the Plan There can be many purposes for a business plan. The plan should provide a firm with a clear direction for the future and identifies the main goals of the business. / The goals of the gym would be social, financial and environmental goals. The social goals that the gym would like to achieve would be good service to patrons that use the facilities, helping the community through sponsorships of local sporting clubs and helping out schools through conducting sport lessons in the gym. Financial goals that the gym would like achieve would be to increase the owner’s wealth through increased market share, increased level of cash flow and increased level of liquidity. But increasing wealth is one of the objectives. The other financial objective would be to minimise the wastage of money on items or products that will not help the gym grow and not falling into heavy debt. Environmental goals that the gym would like to achieve would be to use electricity efficiently, install energy efficient appliances, minimise waste and disposing of the waste properly. (Cambridge Preliminary Business Studies – page 269) v Situational Analysis Internal External ac4 Strengths (lob ortunities • • • • Good assistance provided by employees Great membership deals Cheap prices Good location r • • • • Weaknesses Threats • • • • Not enough employees when business is busy Toilet facilities too small Security Poor Receptionist • • • • • (Cambridge Preliminary Business Studies – page 248) Business Objectives and Strategies The business objectives and strategies section of the business plan outlines what the business aims to achieve, including overall strategic goals. These goals will be based on research from the situational analysis. The Objectives of the Gym are to try and eliminate the weaknesses in the business and make them one of the strengths by working on them with one another and also to improve on strengths and try to make them stronger. Another Objective would be to take every opportunity possible to help the business grow and try to work around keeping threats away from the business. The final Objective would be to improve financial wealth for the owner and to build a good reputation within the community so people feel invited and welcomed when they visit the gym. These objectives can be accomplished through employees and owner working together. This means that employees can help one another with weaknesses and improve on strengths each person has to offer. Also, the owner must be willing to spend money for the improvement of the business. These improvements will include things like renovations when needed, sponsorships and buying extra stock. (Cambridge Preliminary Business Studies – page 271) Operations Description of the service The technology used will be modern. The use of big televisions near treadmills and cardiovascular equipment will help people enjoy themselves while exercising. Memberships, cash transactions, and general business will be done on computers set up on the front counter and in the main office. This will include eftpos facilities, printers, cash register connected to computer. If possible that all 3 computers be linked so memberships can be done on all 3 computers and make renewals, show current members, on these computers. This will make work more convenient. Equipment and materials required will be based on how big the gym is and how quickly the business grows. Equipment required will be: Medicine balls • Accessories • Boxing Gear Gym flooring • Barbells • Cable Attachments Weight plates • Benches • Dumbells Materials that will be required will be things that are needed for day-to-day operations. These materials are: Filing Cabinets . Noticeboard • Paper Lockers • Shop Fittings . Pens Fridges . Office Furniture • Chairs Supplies that will be used will include: Supplements • Gym Singlets . Membership Packages Gym Equipment • Sports Drinks (Bag, Towel, Bottle) Staff Uniform Staff will need to have a Timetable/Roster to inform them when they are working. This roster will be completed every Saturday. For the Staff that do not work on the weekends or dont have a chance to see the roster, the roster will be emailed to all staff members on the Saturday. This will eliminate the excuse of not knowing when and what time staff are working. The testing and evaluating expenses would be high because of the large amount of equipment needed to start up and also the sophistication of the technology used in the gym. The supplies would cost a bit because of the never ending need for it. (Cambridge Preliminary Business Studies – page 271) Personnel requirements and skills The gym should recruit staff according to their qualifications and experience. Staff that are recruited should all specialise in a target area which they occupy during their work times at the gym. Examples of this would be some workers may only be on the front counter, working on the computers. Others may be working on cardio and strength exercises. This will keep things running smoothly and be more convenient for patrons to benefit from these people. The staff would be qualified personal trainers with a certificate III and certificate IV in personal training. ersonal trainers have added qualifications in weight loss, strength training and fitness which are an added bonus. The employer should check to see if the possible employee is qualified because in that industry, there are unqualified people calling themselves personal trainers. Training new and present workers on new technology that gets installed into the gym. Things such as new exercise machines and equipment need to be used in the right way to ensure things are safe and that equipment is stored correctly for safety. Employees need to know what the expectations are when it comes to helping patrons and becoming a leader for new/younger employees. Also understanding what working at a gym involves in regards to how you conduct yourself in front of others, coming to work on time etc. Employees should be able to stay motivated and maintain a good standard of work. This will happen if there is a reward system put in place where workers would get rewarded for doing something extra or working longer. This will become an initiative to keep workers working at a high standard, keep patrons happy and ensuring they come back to the gym knowing they are going to get good service. A safe and healthy work environment is essential for workers to be able to work in a comfortable environment where they can feel relaxed and work to their full potential. This should include a workers office where they can sit and relax during lunch breaks, freshen up; keep all their belongings in a locker. This also shows them that you are thinking about how they feel and try to make things the best as possible. Measuring employee performance would come from 3 main places. One of their evaluations,Will come from their work mates. Other evaluations would come from patrons through a short evaluation sheet which is optional to fill out after a worker has completed a training session with them. The last evaluation will come from the manager/boss talking to the worker themselves. This shows how the workers feels and get their honest opinion on how things could be improved around the gym. / Challenges that would be experiences throughout the operations element would be the high costs in setting up the business and the first few periods where business is slow and not so busy. The equipment should be set out properly and this would be hard with a small area to work with. The qualified employees will be a challenge to find because they are already working or they are almost finished studying to become a personal trainer. This becomes costly because you have to offer the people that are already working a better pay per hour or better salary. Training them to work in a gym would be time consuming because it is based on being good around people and having confidence to talk to therm. (Cambridge Preliminary Business Studies – page 272, http://en.wikipedia,org/wiki/Personal_trainer} C(.’5 Marketing Market Analysis The target market the gym would aim at would be a various number of groups of people. One of these groups of people would be people looking to lose weight through proper exercises and having excellent to guide them through their weight loss journey. The other target market would be people looking to train and gain muscle size as well as muscular strength. The other group of people would be woman, men and teens that are looking for good cardio sessions with a qualified trainer. These sessions will be a combination of light weights, treadmills and bikes. The gym will aim to provide these groups of people with the facilities and good environment to exercise in. As the gym grows, it needs to develop new things to attract people. Something that should be done is to invite local schools for their sport time and take them through a cardio session or a weights session depending on what the majority want to do. These activities should be free of charge for the first term, and a small charge for the sessions after the first term. This attracts teens to become a member and in turn, they will tell their mates to become a member. This leads to a quicker growth and a positive outcome on first timers. Competitors are a very influential factor on your business. They are influential because they determine what you charge for your membership fees, visitor fees and for supplies like shirts and supplements. This means not only do your prices have to be competitive, but your products and services that you are offering have to be of high quality. This is because people are willing to pay a little extra for their good or service but know that they are spending that little extra for top quality. If your prices and quality of goods and services are better that your competitors, it ultimately gives you the competitive advantage over them. (Cambridge Preliminary Business Studies – page 274) Sales Forecasting Sales forecasting is an analysis of a firms sales figures based on individual products, sales representatives, geographic locations, seasonal or annual trends in sales, cash sales or credit card sales. These statistics are used to predict how much profit is going to be made by the firm in the future. It would be hard to create a sales forecast with a newly opened business. This is because the statistics that are provided are short term. Statistics should be at least one year old to show trends in consumer spending. One statistic that can show a future boom in the gym business is the winter season. People tend to join gyms during the winter, work out so their body looks good for the summer seasons. Another figure that is constant is the sale of supplements. These supplements are in constant demand and this is why the sales are always up. One other statistic would be the sale of supplies including towels, bottles, drinks, shirts and singlets. With these statistics and overall plan, business owners will be able to predict when they need to get more supplies, hire or call in more staff, and prepare themselves for the times where business isn’t very busy. This would give business owners an advantage because it can help them in deciding how much supply they need, and avoid over-hiring. (Cambridge Preliminary Business Studies – page 276) Marketing Strategies Marketing strategies will be directed towards achieving specific objectives that support the strategic goals of the business. Some goals may simply be based on increased sales, increased market share, entry into and establishment in a new market area, such as overseas, diversification of the product base and increased profits. Marketing strategies must be consistent throughout the marketing mix and take into consideration product, promotion, price and place. Studies – page 278)There are many products and services that the gym offers. The products that the gym offers include gym apparel, bags, bottles and towels. These products are all of high quality and made by Skins USA. The packaging of these products are of high standard. They all come in sealed plastic bags. The size of the bags, bottles and towels are all practical in size. Not too big and not too small. The warranty on the products last for an extended period of time which suggests the quality is high and producers are confident that products are durable. If the product does fail, the gym will happily replace it within reason. Example, the bottle breaks because of misuse. The price of the gym’s products and services are all reasonable. The gym memberships are about $70 a month for adults and about $55 for people under the age of 18. This price also includes a free gym bag, towel and bottle when you first sign up. This price beats all other competitors by $10. The products that are offered are priced at $20 for a bag, $10 for a towel and $5 or a bottle. The cheap prices are a result of finding a supplier that has cheap prices on their goods with good quality. / The promotion of the gym plays a crucial part in influencing people to join and become members. The strategy of inviting schools for a couple of free circuit sessions influences young people and also their teachers to join. Advertising through the local newspapers would be a cheap and effective way to bring people to the gym with advertisements about new membership offers or coupons that can be used to enter as a guest for free or a discounted price. Also, sponsoring local sporting clubs bring people of all ages to the gym and also give the business a good reputation for helping young people. The place of distribution of our products would only be at the gym. This is because the products are exclusive to out gym only. The storage of the products would be in storage rooms located within the gym’s premises; most likely in the office. (Cambridge Preliminary Business Finance Financial requirements New businesses need have a clear idea of the amount of funds they will need. This could come from debt financing, the original owners’ equity or a future partner’s equity. The business plan should provide a breakdown of how these initial or additional funds will be used. The financial requirements needed to support the gym would be very high. The reasons for this would be the start-up costs of the business which includes things like buying the space, renovating and designing interior and exterior, purchases of new gym equipment and the employment of staff. This would be challenging for a sole trader, but with careful financial management the business can run smoothly, begin its establishment phase and not fall into too much debt too quickly./ Once the business has established itself and is on its journey through the growth stage, it must be able to support itself or else liquidity problems will develop. It is important that the gym owner manages the income wisely. This means not spending money on things that wouldn’t be useful or not saving up for the times where business might not be as busy as he/she would like. The income made should be spent on the business with things such as maintenance of the equipment, buying more products for new members. This would allow the gym to grow steadily. (Cambridge Preliminary Business Studies – page 281) Financial Forecasts Planning must relate directly to the prime function of the business. It tells the owners if they can actually afford to produce the product or provide the service. The firm must make financial forecast based on information gained from market and product research. Financial forecasts can be made through one of the following: Forecasted cash flow statements, projected profit and loss statements, recent profit or loss statements if business is already established, projected balance sheet, break even analysis. Forecasted cash flow statements show how much money is needed, when it is needed and where it will come from. Also reflect time frames such as weekly, monthly or quarterly. The gym’s forecasted cash flow statement would be based on the sales forecasting. This is because both statistics are based on predictions on future sales. These statements are useful for when the business is close to its establishment phase or into the phase. For a business that is starting up, a personal balance sheet will be the better option. This is because owner will need to be able to keep their personal commitments and still provide enough income for family to live on. The balance sheet will explain how much money the gym is earning, where money is being spent in the gym, bill payments, workers’ wages, money to purchase supplies, and keep the business running smoothly. This will indicate the stability of the business and calculate its net worth. This will provide future buyers or investors of the business information on risks JClthey would be taking. (Cambridge Preliminary Business Studies – page 282) / Financial Records Small businesses need to keep accurate financial records for all transactions. They will need to have one of the following: Revenue statements Cash flow statements Balance sheets Funds statements Budgets – marketing, operations, employment relations and accounting and finance. For the gym, I have decided to use a balance sheet because it is easier and more convenient due to being a new business. Balance Sheet Projected up to 1 July 2011 Current Assets Cash at bank Accounts Receivable Stock $ $ total 22 000 93 000 77 500 192 500 Non – current assets Equipment Motor Vehicles 900 000 70 000 970 000 Intangible Assets Goodwill 20 000 Total assets 1 182 500 Current liabilities Bank overdraft Accounts payable 100 000 50 400 -••.— 150 400 Non – current liabilities Long – term loan 350 000 350 000 Total liabilities 510 400 Owners’ equity Capital Undistributed profits Drawings 150 000 143 800 121 000 414 800 C938 266 – Total liabilities and owners’ equity Gym Liquidity Current Assets divided by Current Liabilities which substitutes into $192 500 divided by $150 400 which equals 1.28. This means i have one dollar and twenty-eight cents to pay back every dollar of short term debt. It would be preferable if i had a ratio of 2:1 so that my payments don’t take up the majority of my revenue. Gym Solvency Total Liabilities divided by total Owners equity which substitutes into $510 400 divided by $414 800 which equals 1.23. This means that for every one dollar of equity it has one dollar .1and twenty-three cents in debt. (Cambridge Preliminary Business Studies – page 283) Financial Controls In each business, controls need to be set up to provide standards to which the firm can compare itself. Controls allow for corrective action to be taken to keep the business on a successful path. Without controls, a firm’s ability to achieve success would be questionable. Controls that the business would need to implement would be standards that will need to be met. These standards will be the basis for improvement. One standard would be that when the gym reaches a satisfactory number of members, that figure should be maintained/improved on. Another standard would be the service that staff offers to people using the gym facilities. The staff should always treat people with respect and provide assistance and knowledge to people that are in need or ask for it. e/ c ,ix The major control that the gym will use would be setting a budget. This control is decided by the owner of the gym because they should know how much income and expenditure is coming in and out of the gym. The budget should help the business grow but at the same time, not fall into major debt. The budget for the gym would be constantly changing to meet customer demands but the average budget would be about $5000 a week. (Cambridge Preliminary Business Studies – page 283) Business Plan And Executive Summary For A Gym Business Essay

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