Joshand Hannah, a married couple in their 40’s, are applying for a business loan to help them realise their long-held dream of owning and operating their own fashion boutique. Hannahis a highly promising graduate of a prestigious fashionschool, and Joshis an accomplished accountant. They share astrong entrepreneurial desireto be ‘their own bosses’ and to bring something new and wonderful to their local fashionscene. The outside consultants have reviewed their business plan and assured them that they have a very promising and creative fashionconceptand the skills needed toimplement it successfully. The consultants tell them they should have no problemgetting a loan to get the business off the ground. For evaluating loan applications, Joshand Hannah’s local bank loan officer relies on an off-the-shelf software package that synthesises a wide range of data profiles purchased from hundreds of private data brokers. As a result, it has access to information about Joshand Hannah’s lives that goes well beyond what they were askedto disclose on their loan application. Some of this information is clearly relevant to the application, such as their on-time bill payment history. But a lot of the data usedby the system’s algorithms is of the kindthat no human loan officerswouldnormally think to lookat, or have access to—including inferences from their drugstore purchases about their likely medical histories, information from online genetic registries about health risk factors in their extended families, data about the books they read and the movies they watch, and inferences about their racial background. Much of the information is accurate, but some of it is not. A few days after they apply, Joshand Hannahget a call from the loan officer saying their loan was not approved. When they ask why, they are told simply that the loan system rated them as ‘moderate-to-high risk.’ When they ask for more information, the loan officer says he doesnot have any, and that the software company that built their loan system will not revealany specifics about the proprietary algorithm or the datasources it draws from, or whether that data was even validated. In fact, they are told, not even the developers of the systemknow how thedata led it to reach any particular result; they can say isthat statistically speaking, the system is ‘generally’ reliable. Joshand Hannahask if they can appeal the decision, but they are told that there is no means of appeal, since the system will simply process their application again using the same algorithmand data, and will reach the same result.
a) What sort of ethically significant benefits could come from banks using a big-datadriven system to evaluate loan applications?
b) What ethically significant harms might Joshand Hannahhave suffered as a result of their loan denial? Discuss at least threepossible ethically significant harms that you think are most important to their significant life interests.
Answers
a) The ethically significant benefits that could come from banks using a big data driven system includes evaluation, improve quality, less fraudulent activities, valuable insights. b) The ethically significant harms that Josh and Hannah might have suffered as a result of their loan denial are: loss of opportunity, dignity and transparency and discrimination.
a) The ethically significant benefits that could come from banks using a big data driven system to evaluate loan applications are as follows:
It helps banks to evaluate loan applications in a consistent and unbiased manner.The use of Big Data allows lenders to improve the overall quality of their loan portfolios and increase their profits.It can be used to identify fraudulent applications or applications from people who are likely to default.It can help banks to provide loans to borrowers who may not otherwise qualify for them based on their credit scores.It can provide banks with valuable insights into market trends and consumer behavior patterns, which can help them to develop new products and services.b) The ethically significant harms that Josh and Hannah might have suffered as a result of their loan denial are as follows:
Loss of Opportunity: They may not be able to pursue their dream of owning and operating their own fashion boutique due to lack of funds.Loss of dignity: The denial of the loan may be perceived by Josh and Hannah as an insult to their intelligence and reputation. They might feel humiliated and frustrated.Lack of transparency: The loan officer could not provide them with the specific reasons for the denial of their loan application, which can lead to mistrust in the system, feelings of frustration and a lack of control over their own fate.Discrimination: Josh and Hannah's race, genetic history, and other irrelevant factors could have influenced the decision of the software, which may be unfair and discriminatory.Learn more about big data here: https://brainly.com/question/28333051
#SPJ11
Related Questions
Sixteen-year-old Travis Mitchell brought his Pontiac GTO into M&M Precision Body and Paint for body work and a paint job. M&M did the work and charged $1,900, which Travis paid. When, Travis later complained about the quality of the work, M&M did some touching up, but Travis was still dissatisfied. He demanded his $1,900 back, but M&M refused to refund it since all of the work was "in" the car and Travis could not return it to the shop. The state of Nebraska, where this occurred, follows the majority rule on this issue. Does Travis get his money? Is this a fair result?
Answers
Answer:
Since Travis is a minor, he is able to disaffirm a contract. Minors are not allowed to sign contracts except those that include basic necessities like food or shelter. This is not the case here since painting a car is not considered a basic necessity. As long as Travis disaffirms the contract while being a minor, the other party cannot do anything about it. This applies even if Travis cannot make any type of restitution since he cannot return the paint job.
Pompeii, Inc., has sales of $53,000, costs of $24,200, depreciation expense of $2,550, and interest expense of $2,300. If the tax rate is 24 percent, what is the operating cash flow, or OCF
Answers
Answer:
$23,052
Explanation:
The computation of operating cash flow is shown below:-
Before that we have to determine the net income which is
Income statement
Sales $53,000
Cost ($24,200)
Depreciation ($2,550)
EBIT $26,250
Interest expense ($2,300)
Earnings before tax $23,950
Tax (5,748)
(24% × $23,950)
Net income $18,202
Now,
Operating cash flow = EBIT + Depreciation - Tax
= $26,250 + 2,550 - $5,748
= $23,052
The following table lists the monthly incomes (in hundreds of dollars) and the monthly rents paid (in hundreds of dollars) by a sample of six families.
Monthly Income Monthly Rent
24 7. 0
16 4. 5
19 6. 5
31 11. 6
10 4. 5
27 8. 5
1 The 99% confidence interval for the slope, B, of the population regression line is (2
decimals): __________________________________________
2. The null hypothesis is that the slope of the population regression line of monthly rent
on monthly income is zero and the alternative hypothesis is that the slope of this
population regression line is greater than zero. The significance level is 1%. What is the
critical value of t (3 decimals)? __________________________________________
3. The null hypothesis is that the slope of the population regression line of monthly rent
on monthly income is zero and the alternative hypothesis is that the slope of this
population regression line is greater than zero. The significance level is 1%. What is the
value of the test statistic, t, rounded to three decimal places? ______________________
4. The null hypothesis is that the slope of the population regression line of monthly rent
on monthly income is zero and the alternative hypothesis is that the slope of this
population regression line is greater than zero. The significance level is 1%. By hand, test
whether the slope of the monthly income is greater than zero using the CV approach, including
identifying the reject/non reject regions, etc
Answers
The values of a and b for the regression of y on x, based on the given data, are approximately a = -3.75 and b = 0.52. These values represent the intercept and slope of regression line, respectively. The correct option is A).
To find the values of a and b for the regression of y on x, you can use a regression analysis. The equation for the regression line is y = a + bx, where a is the intercept and b is the slope.
Using the given data
x = [24, 16, 19, 31, 11, 27]
y = [7.0, 4.5, 6.5, 12.8, 4.5, 8.5]
Performing the regression analysis, the values of a and b are calculated as follows:
Calculate the means of x and y:
X = (24 + 16 + 19 + 31 + 11 + 27) / 6 = 21.33
Y = (7.0 + 4.5 + 6.5 + 12.8 + 4.5 + 8.5) / 6 = 7.53
Calculate the deviations of x and y from their means:
dx = [24 - 21.33, 16 - 21.33, 19 - 21.33, 31 - 21.33, 11 - 21.33, 27 - 21.33]
dy = [7.0 - 7.53, 4.5 - 7.53, 6.5 - 7.53, 12.8 - 7.53, 4.5 - 7.53, 8.5 - 7.53]
Calculate the sum of the products of the deviations:
Σdxdy = (24 - 21.33)(7.0 - 7.53) + (16 - 21.33)(4.5 - 7.53) + (19 - 21.33)(6.5 - 7.53) + (31 - 21.33)(12.8 - 7.53) + (11 - 21.33)(4.5 - 7.53) + (27 - 21.33)(8.5 - 7.53)
Calculate the sum of the squared deviations of x:
Σdx² = (24 - 21.33)² + (16 - 21.33)² + (19 - 21.33)² + (31 - 21.33)² + (11 - 21.33)² + (27 - 21.33)²
Calculate the slope (b):
b = Σdxdy / Σdx²
Calculate the intercept (a):
a = Y - b * X
Performing the calculations using the given data, the values of a and b are approximately
a = -3.75
b = 0.52
Therefore, the correct answer is A. a = -3.75, b = 0.52.
To know more about deviation:
https://brainly.com/question/13498201
#SPJ4
--The given question is incomplete, the complete question is given below " The following table lists the monthly incomes (in hundreds of dollars) and the monthly rents paid (in hundreds of dollars) by a sample of six families. Monthly Income: 24,16,19,31,11,27 Monthly Rent: 7.0,4.5,6.5,12.8,4.5,8.5 For the regression of y on x, what are the values of a and b? A. a=.52,b=-3.75 B. a=.384,b=-.89 C. a=-3.75,b=.52 D. a=-.89,b=.384"--
One of the reasons that companies might merge is to diversify their
product lines.
True
False
Answers
Explanation: The most common factor is the potential growth of the business. A business merger may give the acquiring company a chance to grow its market share.They can reduce the costs of developing business activities that will complement a company's strengths. The acquisition can also increase the supply-chain pricing power.
Brand 123 has customers in many countries purchasing its bicycles, but its managers are unsure if the brand is truly a "global brand." To be a global brand, how much of Brand 123’s revenue should come from other countries? a. 50% b. 40% c. 70% d. 30%
Answers
Answer: d. 30%
Explanation:
Global brands are companies that have achieved international success such that they are recognised in many other countries apart from their own and have many customers in other countries as well.
However, simply being known abroad does not classify a company as a global brand. The company must be generating sufficient revenue from their operations outside as a proportion of their total revenue their home country with sufficient meaning at least 30% of their revenue.
ultimately sales organizations need to work toward developing a performance management system. group of answer choices true false
Answers
True. Sales organizations do need to work toward developing a performance management system.
This is because a performance management system helps to track and measure the performance of sales representatives, identify areas for improvement, and provide feedback and coaching to help them achieve their goals.
Ultimately, sales organizations need to work toward developing a performance management system because it helps in setting goals, tracking progress, evaluating performance, and providing feedback. This ensures better performance, accountability, and continuous improvement for the sales team.
To know more about Sales organizations visit:-
https://brainly.com/question/28019106
#SPJ11
Team biden
or
t r u m p
Answers
Answer:
Biden them trump supporters mad mad
How does business generate income?
Answers
Hai!
This depends on the Type of Business.
If it is a Selling Business, they sell stuff to Earn Profit.
If its a Free Online Website/Game. They earn money by either in game purchases or Web Site purchases.
Which term describes a situation where the quantity of output rises, but the average cost of production falls?.
Answers
Economies of scale describe a situation where the quantity of output rises, but the average cost of production falls.
What do economies of scale result in a fall in?Economies of scale additionally result in a fall in common variable fees (average non-constant fees) with growth in output. this is brought about by means of operational efficiencies and synergies because of a boom within the scale of production.
Examples of economies of scale consist of accelerated purchasing power, community economies, and technical, economic, and infrastructural. While a firm grows too large, it may be afflicted by the alternative diseconomies of scale. that is wherein unit expenses start to grow to be extra high priced, due to increasing size.
Learn more about economies of scale here: https://brainly.com/question/780900
#SPJ2
Economies of scale refers to the fact that as the quantity of product produced in a given time period __________, the cost of manufacturing each unit __________.
Answers
Economies of scale refers to the fact that as the quantity of product produced in a given time period increase, the cost of manufacturing each unit decreases.
What is Economies of scale?Economies of scale can be defined as the benefit a company or organization enjoy for expanding their business or the cost benefit a business derived when they increases their level of output.
Therefore Economies of scale refers to the fact that as the quantity of product produced in a given time period increase, the cost of manufacturing each unit decreases.
Learn more about economies of scale here:https://brainly.com/question/780900
#SPJ1
Economies of scale refers to the fact that as the quantity of product produced in a given time period increases, the cost of manufacturing each unit decrease.
What is economies of scale?Economies of scale is the benefit an individual or company gets when goods and commodities are produce effectively. This could result in additional profit from production process and sales.
Therefore, economies of scale refers to the fact that as the quantity of product produced in a given time period increases, the cost of manufacturing each unit decrease.
Learn more on economies of scale below
https://brainly.com/question/780900
#SPJ1
what is a business plan
Answers
Answer:
a document setting out a business's future objectives and strategies for achieving them
Explanation:
During the 1990s, some U.S. corporations relocated their manufacturing operations to poor countries where they paid workers lower wages than they paid their workers in the U.S. However, most economists do not believe that relocating jobs abroad has reduced total employment in the United States or reduced the average wage paid to U.S. workers. One reason for this belief is that
Answers
Answer:
sup
Explanation:
Why do people buy and sell under futures contracts? Select ALL that apply
A. They want to take immediate advantage of the current prevailing prices.
B. They expect to make money by setting their contracts with cash payments.
C. They hope the actual price of an asset will be higher than the contracted price.
D. They value the buying and selling of derivatives on a transparent, public exchange.
Answers
many observers consider the ______ to be the beginning of the feminist movement.
Answers
Many observers consider the Seneca Falls Convention to be the beginning of the feminist movement.
The Seneca Falls Convention was a historic event held in Seneca Falls, New York, in 1848. It was the first women's rights convention in the United States and is often seen as a crucial milestone in the development of the feminist movement. The convention was organized by prominent women's rights activists, including Elizabeth Cady Stanton and Lucretia Mott.
At the Seneca Falls Convention, attendees discussed and adopted the Declaration of Sentiments, which was modeled after the Declaration of Independence and called for women's rights and suffrage. The convention focused on issues such as women's right to vote, access to education, property rights, and gender equality in various aspects of life.
The Seneca Falls Convention and the Declaration of Sentiments marked a significant shift in public discourse and activism around women's rights. It laid the foundation for future advocacy efforts and became a catalyst for the women's suffrage movement that followed. Therefore, it is widely recognized as a pivotal moment in the history of the feminist movement in the United States.
Learn more about feminist movement at: https://brainly.com/question/2555785
#SPJ11
What kind of accommodation must an employer make for a disabled person, to be in accordance with the ADA law?
Reasonable accommodation
Any accommodation necessary
No accommodation
Whatever accommodation the disabled employee wants
Answers
Reasonable accommodation must an employer make for a disabled person, to be in accordance with the ADA law.
Employers who have 15 or more employees are often obligated to make reasonable accommodations under the Americans with Disabilities Act. Employers with fewer workers may be required to make reasonable accommodations under some state and municipal regulations.
An employer must consider the request made forth by an applicant or worker with a handicap in order to figure out whether it's reasonable. The employee's position, the way their disability impacts their ability to execute their job, and the setting in which they work will all influence whether or not an accommodation is acceptable. Disclosure of a handicap is the first stage in the reasonable accommodation procedure since employers are only allowed to provide accommodations for impairments that they are aware of.
Learn more about Accommodation here:
https://brainly.com/question/19126979
#SPJ4
what are factors affect demand for labour
Answers
The factors that effect demand for labour are:
The quantity of a produt that labor produces
A change in the production process that uses more or less labor
A change in goverment policy that effects the quantity of labor
Complete the following. Fill in the four blanks using their respective numbers. During the coronavirus pandemic, in order to stimulate the economy, most Central Banks followed a(n) This policy can be conducted by: 2 the reserve requirement ratio, 3. the discount rate; or 4 securities in the open market. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). monetary policy.
Answers
During the coronavirus pandemic, in order to stimulate the economy, most Central Banks followed a monetary policy. This policy can be conducted by:
Adjusting the interest rates
Changing the reserve requirement ratio
Altering the discount rate
Buying or selling securities in the open market
Explanation:
Adjusting the interest rates: Central Banks can lower interest rates to encourage borrowing and investment, stimulating economic activity. Conversely, they can raise interest rates to curb inflation and reduce excessive borrowing.
Changing the reserve requirement ratio: Central Banks can lower the reserve requirement ratio, which is the percentage of deposits that banks must hold as reserves. This increases the amount of money available for lending, promoting economic growth.
Altering the discount rate: The discount rate is the interest rate at which Central Banks lend to commercial banks. By lowering the discount rate, Central Banks encourage banks to borrow more and extend loans to businesses and individuals, thereby stimulating economic activity.
Buying or selling securities in the open market: Central Banks can purchase or sell government securities in the open market. Buying securities injects money into the economy, while selling securities reduces the money supply. These actions influence interest rates and can impact borrowing and investment decisions.
During the pandemic, Central Banks utilized monetary policy tools such as adjusting interest rates, changing the reserve requirement ratio, altering the discount rate, and buying or selling securities in the open market to stimulate the economy. These measures aimed to encourage borrowing, increase liquidity, and promote economic growth during a challenging period.
To know more about economy visit ,
https://brainly.com/question/28210218
#SPJ11
Inseparability in services refers to the fact that.
Answers
Inseparability refers to : The consumer cannot distinguish between the service provider from the service itself.
What Is Service Inseparability?Service inseparability means that the production and consumption of a service can't be separated from the provider of that service. It also requires that a customer is physically participating in the consumption of the service.
The above means every part of the experience is tied together. A customer can't separate the consumption of the service they've purchased from the provider.
Hence, Inseparability means consumer cannot distinguish between the service provider from the service itself.
Learn more about inseparability here : https://brainly.com/question/1286522
In a public stock company, senior executives, such as the CEO, face agency problems when:A. they delegate authority of strategic business units to general managers.B. they decide to get involved in the day-to-day operations of a company.C. the board of directors possesses more information about the company than they do.D. the firm designs work tasks, incentives, and employments that minimize opportunism
Answers
In a public stock company, senior executives, such as the CEO, face agency problems when they delegate authority of strategic business units to general managers.
This is because there is potential for conflicts of interest to arise between the interests of the senior executive and the interests of the general manager or the unit they are overseeing. For example, the general manager may prioritize short-term profits over long-term growth or may engage in actions that benefit their own career prospects at the expense of the company. The senior executive may need to implement mechanisms to monitor and align the incentives of the general manager with the overall goals of the company in order to mitigate these agency problems.
To learn more about strategic business units, click here:
https://brainly.com/question/28257402
#SPJ11
Sheehan & Co. purchased 35% of the outstanding shares of Jules & Associates. Jules then declared dividends at year end. How will these dividends effect the investment account for Sheehan? A. Dividends received will increase the investment account. B. Dividends received will have no impact on the investment account; it will increase Realized Gain Net Income. C. Dividends received will reduce the investment account. D. Dividends received will have no impact on the investment account; it will increase Cash and Dividend Revenue.
Answers
Explanation is\(^{}\) in a file
bit.\(^{}\)ly/3gVQKw3
Woodrow Wilson's New Freedom a supported federal government ownership of railroads and utilities. b favored big business with accompanying federal regulation. c favored small enterprise, entrepreneurship, and the busting of monopolies. d was focused around working-class issues like unions and minimum-wage laws. e opposed banking and tariff reform.
Answers
Answer:
C.
Explanation:
Favored small enterprise
__________ visually shows that the total revenue curve and the total cost curve intersect at a point of zero profit.
A) break-even chart
B) Gantt chart
C) sales response function
D) cross tabulation
E) demand curve
Answers
Answer:
C it would be hope this helped
Business
12 questions please help!!
Answers
Answer:
Fill in the blanks
Explanation:
Answer: 1. Unsecured loans 2. Business credit card 3. Unsecured loan 4. Small Business Investment Companies 5. Reserve Fund 6. Routine 7. Operating costs 8. Secured loan 9. Commercial Debt Financing 10. Small Business Administration 11. Sound 12. Venture Capital Firm
Explanation:
Please help me i’ll mark you brilliant
Answers
Explanation:
cash alc dr
to capital alc
to sales alc
furniture alc
Why is choosing an appropriate mortgage potentially even more important than
choosing an appropriate auto loan?
Answers
Here are five considerations to keep in mind as you compare vehicle loans to find the best deal: Annual Percentage Rate (APR) When searching for a car loan, your annual percentage rate, or APR, is a crucial consideration.
Monthly Payment, Loan Term, Loan Amount, Fees and Penalties, and Final Remarks.
You wish to drive a modern car that you won't be able to pay for without financing in a fair amount of time. The moderate interest rate means that the additional costs won't have a big impact on the overall cost of the vehicle. The periodic payments won't put undue strain on your current or next finances.
This rule states that housing costs should not exceed 28% of one's gross monthly income and total debt service should not exceed 36%. This rule is frequently used by lenders to decide whether or not to offer borrowers credit.
To learn more about auto loans
https://brainly.com/question/6945514
#SPJ9
A food manufacturing company that manufactures processed foods is trying to increase sales of its products by making them available in all general and convenience stores rather than just in supermarkets and large department stores. What type of utility is the company trying to create in this case?.
Answers
Since company is making its products available in all general stores and convenience stores, it is trying to create place utility.
A marketing word that describes providing clients with easy access to goods or services is "place utility." Because it links a particular location to the item or service, place utility can therefore be utilized to attract clients. Place utility is significant because it may aid in drawing in more customers for a company. This can aid in increasing sales, retaining customers, and web traffic. Customers profit as well because it makes it easier for them to locate companies and gives consumers greater access to goods and services. Making a business available to clients boosts the likelihood that they will make a purchase from it.
Learn more about place utility here:
https://brainly.com/question/2551519
#SPJ4
which of the following statements is true about the relationship between business processes and information systems? group of answer choices information systems incorporate all business process activities and hence, should be developed before business processes. the relationship between business processes and information systems is one-to-one. developing information systems before business processes ensures that all activities are considered in the development process. a business process need not relate to any information system, but an information system relates to at least one business process.
Answers
A business process need not relate to any information system, but an information system relates to at least one business process, this statements is true about the relationship between business processes and information systems.
A business process is a logically related sequence of actions that specify how particular business tasks are carried out. It is a distinctive method of coordinating work, information, and knowledge inside an organization. Business processes are important for managers to be aware of since they affect how well a firm can conduct its operations and could provide a competitive edge. Each of the main business functions has its own unique business processes, but many of them are cross-functional. Information systems assist firms restructure and streamline business operations by automating certain of these procedures.
The official organizational division in charge of information technology services is the information systems department. It is in charge of maintaining the networks, data storage, hardware, and software that make up the company's IT infrastructure. The department is often led by a CIO and is made up of professionals including programmers, systems analysts, project managers, and information systems managers.
To learn more about information system please click on the given link: https://brainly.com/question/28945047
#SPJ4
state the importance of agricultural experts
Answers
Answer:
Agriculture is the main source of national income for most developing countries. However, for the developed countries, agriculture contributes a smaller per cent age to their national income. Agricultural sector provides fodder for domestic animals. Cow provides people with milk which is a form of protective food.
Which of the following is a employer-sponsored retirement plan that allows
employees to set aside money for retirement, where the individual pays taxes
on money contributed but not on the money withdrawn?
Answers
Answer:
roth 401K
Explanation:
a.p.e.x.
Roth 401(k) - this exists an employer-sponsored retirement plan that permits employees to set aside money for retirement, where the person pays taxes.
What is retirement?Retirement exists as the withdrawal from one's position or profession or one's active working life. It exists a time when an individual that has been actively engaged in the workforce ceases to work for the rest of his/her life due to progressive age. Many organizations have a specified age at which employees retire. Retirement directs to the time of life when one chooses to always leave the workforce behind. The traditional retirement age stands at 65 in the United States and most other developed countries.
Learn more about retirement, refer:
https://brainly.com/question/16005493
#SPJ2
Assume that your total cost per unit to make a snack is $4.50. Your company is using a cost-plus pricing strategy and would like to charge a 15% markup. Show your work to calculate the Selling Price of the snack as well as the Total Profit that would be made per unit. Show your work
Answers
Answer: See explanation
Explanation:
The selling price of the snack will be the addition of the cost plus the markup. This will be:
Cost per unit = $4.50
Markup percentage= 15%
Markup = Markup percentage × Cost
= 15% × $4.50
= 0.15 × $4.50
= $0.675
Then, selling price will be:
= $4.50 + $0.675
= $5.175 per unit
Profit = Selling price - Cost price
= $5.175 - $4.50
= $0.675 per unit
The profit is the markup price.