Analysis for JiTT Example 2
Question: Short Answer/Essay:
Develop a verbal model to explain the relationship between two variables that describe the behavior of an activity related to your own personal experience (e.g. time spent studying and grade on upcoming exam - but don't use this example). Also, how would you illustrate your model graphically? What would the graph look like? Explain.
Text reference: pp. 28-32
Model 1
I have been working in a restaurant-eatery for a few months now
and I have been noticing that when the employees smile a lot to
customers, the most likely they are to get big tips. The smiler
we are, the more money we get. Graphically I would put on the Y-axis
the amount of tips left by customers and on the X-axis I would put
the "average of smile" form the workers. The bigger this
number is , the upper the line goes, at least for a while. After,
even if the numbers of smile is still going up, the amount of tips
left does not increase as much.
Model 2
If I put in more hours at my job, I would make more money. And therefore
I will have some extra money to spend on what I want. In my situation
variable 1 is hours spent working and variable 2 is wages earned.
In this situation there is a positive relationship because if hours
spent working is increased then wages earned will also increase.
In the graph there will be an upward curve that will continue to
go up.
Model 3
My day is just not long enough to accomplish everything that I want
to accomplish. There is an opportunity cost for everything that
I do. I have noticed that if I do not spend any time with my girlfriend
that our relationship suffers. My girlfriend is not happy if everyday
I do not at least call her (15 minutes). If I see her (1 hour) she
continues to be even more happier. However after an hour while her
enjoyment contiunues to grow, it is at a slower rate. After 3 hours,
her enjoyment stops growing and begins to decrease. This model has
allowed me to maximize her enjoyment without increasing my opportunity
costs. For example I have to eat so I have lunch with her 1 hour.
The increasing opportunity cost of having to spend more time with
my girlfriend for her to get the same amount of enjoyment occurs
at the one hour mark and increases at the two hour mark. As we get
closer to three hours I know that the rate at which the increasing
opportunity costs grows until at the three hour mark her enjoyment
actually decreases. Yes with Economic Models even personal issues
can be studied and handled much more effectively. From now on I
will spend only one hour a day with my girlfriend and spend the
other two hours studing Economics.
Model 4
I work at a camera store, I have attended several workshops about
cameras and sale techniques. Because of these workshops my sales
has increased; therefore my commission will increase along with
my knowledge. Graphically: I would use a line graph with two variables.
Variable one (axis x) would be how many workshops I attended and
variable two (axis y) would be the amount of commission I will receive.
Therefore this would be positively related variables. The graph
will be upward-slopping lines that will show how one variable increases
the other variable increases. The more workshops I attend the more
money I will make.
Model 5
An example of a model that explain the relationship between two variables that describe the behavior of an activity related is as a manager of a jewelry store, I'm able to determined the sales differences when we hired more Spanish/English speaking sales assoicates and decreases the number of employee that speak English only. The increase of both Spanish and English speaking increases our sales. A bar graph is a graphical model that describe the situation in a clear manner. On the x-axis, it would be the number of Spanish/English speaker and on the y-axis would be the sales amount. By looking at the bar graph, the bar tend to move up as we increases the number of Spanish/English speaker. Therefore, there would be a slope going upward, showing that there's a increase of sales as we increase more Spanish/English speaker.
