Relations and Modeling of GDP and House price index of USA Statistics Project

Relations and Modeling of GDP and House price index of USA - Statistics Project Example AS argued by Strawser, et al. (2014), the financial and the mortgage meltdown of 2007-2008, meant that the house price indexes were affected. This study attempts to shed some light on the relationship between the Housing Price Index (HPI) and the Gross Domestic Product of USA amidst all the economic variations since 1993-2009. While this study is limited by the realization that we cannot draw causal inferences without scientific experimentation, the research and data statistical significance suggests that a relationship exists. For valid causal conclusions, we need an experiment with both a control and conditioned group which would be difficult to stage. The data used in this report has been adopted from the GDP and other key economic reports, world economic outlook reports; IMF reports of 2008 among other economically related data that helped define the objective of the study. The readily available data sources on housing and GDP for the U.S. were investigated. The Bureau of Economic Analysis was the first and best source to get adjusted GDP numbers annually. The following hypothesis was pursued: The study pursued an overall or general objective of determining the relations and modeling of the GDP and the House price Index of USA. In order to perform this task, it was realized in the study that establishing a simple regression model linking the relations the GDP and the House price Index of USA would be very critical for the study to achieve its objective. In the process, errors in the model were tested so as to build another regression model. ARIMA model for both the GDP and the house prices index in the U.S. were used to determine the formula of the relationship between these two important economic variables. With the data, the U.S. house price indexes and the U.S.-Real GDP (in billions of dollars) were extracted from 1st January of 1993 to December the

HRM Essay Example | Topics and Well Written Essays - 2000 words - 2

HRM - Essay Example Most experts say that making proper job descriptions is a good starting point for companies like Crystal Waters Winery. The second phase revolves around effective retention, which involves adequate training where the employees are given room for personal growth and development. Training also has to follow a proper procedure otherwise training may become redundant and the company may not benefit from the training program (Fink, 1992). Crystal Water Winery has to understand that in order to remain competitive in the industry it will have to make a significant investment into its human capital. However, Jacques Terblanche has to ensure that investment is made in the right things. Introduction Crystal Waters Winery is expanding its operations and it wants to be able handle the additional workload that comes with this increase. To effectively manage all this, Crystal Waters Winery will have to hire more people in the HR, management, marketing and viticulture departments. However, they wil l have to go through various steps before actually hiring individuals. This process is known as Human Resource Planning. A human resource plan is a systematic process of matching the interests, skills and talents of individual community members with the long-term goals and economic opportunities in the community. The human resource plan brings out the long term strategic perspective of the organization and how it wishes to expand upon its repertoire within the relevant thick of things. It takes a keen look at the ways and means through which hiring mechanisms could be established and the numerous ways through which the organizational charter is manifested by the employees themselves. Among the various aspects that are covered by human resource planning the most important ones are: Determining the numbers to be employed at the new department/location Determining the functions of the current workforce Retention/promotion of current staff Removing any redundant functions / employees Fu ture outlook Human Resource Planning is important for every company when they want to be proactive and want to manage their human resources to take advantage of any opportunity in the future. The companies understand the organizational fluidity around skills held by the people. One of the major limitations of HRP is that it requires extensive information of the external labor market, data about current employees and how resources work in the organization. Crystal Waters Winery needs to understand the exact duties need that to be incorporated into the company’s operations and where it will get the human capital from. Through HRP Jacques Terblanche wants to find out how he can improve the performance of his company in the long run without drastically impacting profitability or sales. Demand planning is an integral starting point where the company must anticipate future demand for their product (Bertucci, 2006). Only if the demand is sustainable then it should start hiring new e mployees, if however the demand is declining then the management must focus on improvement and streamlining of the business processes. Job Analysis A good starting point for Jacques Terblanche would be to create an effective Job Analysis for all the positions for which he will be hiring. Job analysis is the study of competencies, and the emerging emphasis on considering other work-related about the work itself, the worker, the organization, and the