In your own words, answer this unit's discussion questions in a main post (recommended minimum 300 words), and respond to at least two peers’ postings (recommended minimum 75 words).After you have reviewed the Assignment Details below, click the Discussion Board link under the My Work heading above to open the Discussion Board and make your post.Assignment DetailsStarting a course in statistics may trigger many questions, some of which could be the following:Why am I learning about statistics?Do I need to be a math expert to understand statistics?I never needed it before, why would the future be any different?How is my current GPA calculated?Who has the best three-point average in the basketball playoffs?Did I pay too much for my car compared to average prices in my city?These are just a few examples, showing that people are using statistics even if they are not aware of it.Discuss how statistics, as a way of organizing and summarizing data, helped you make good decisions when shopping, selecting a place to live, or planning your budget for the next month.Reply to comments posted by two of your classmates or your professor. Comments must be substantive and related to learning topics discussed in the Learning Materials or intellipath® lessons.In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings.For assistance with your assignment, please use your text, Web resources, and all course materials.Discussion Board Reminders: Must have three posts: A main post and two replies to peers.First post: Either your main post or a reply to others must be posted before midnight CT (Central time) on Friday of each week.Second and third post: Must be posted on a different day from the first post.Connect to content: At least one post must refer to course learning materials. See the Academic Resource on Discussion Boards for help with connecting to the content.Engaging in class discussions: For more information on making the most of your class dialog, review the Academic Resource on Discussion Boards. Grading RubricAssignment CriteriaProficient DescriptorPointsQuality of Main Post16 Points TotalStudent’s main post meets or exceeds the following requirements:Responds completely to all of parts of discussion question (4 points)Communicates content information accurately and/or logically (4 points)Delivers a thoughtful response demonstrating insights and reflections (4 points)Connects to both key content concepts and personal experiences (4 points)/16 pts.Response to Peers16 PointsTotalResponds to a minimum of two peers (8 points per response)Substantive response (4 points)Furthers the conversation with peers. Examples could include (4 points):Provides additional resourcesConnects to key conceptsShares personal or professional experiencesContributes new information or perspectivePresents a competing viewpoint/16 pts.Support from Learning Resources4 PointsTotalAt least one post refers to course learning resources./4 pts.Professional Writing4 pointsResponse is well-organized, clear, and free of grammatical and mechanical errors.Posts demonstrate courtesy and respect for others./4 pts.Total40 points possible/40 pts.

Why is it important to prepare a financial budget? Explain what is meant by the term "time value of money". For example, why might it be better to receive $8 today, over receiving a promise of $9 seven years from now? How should one consider the time value of money when planning for retirement?  Please share examples within your response.

This assignment aligns with Learning Outcomes 1–6.In this module you will submit your Small Business Plan for grading. Follow the Submission instructions below to upload the file.Business Plan AssignmentThe purpose of this business plan assignment is to reflect on the concept you have acquired during this course. It is important to complete and submit a business plan for any business. The business plan is often the document that secures financing for a company and creates a framework for the organization. In this assignment you will create a business plan (5-7 pages) to include the following:Executive Summary: The executive summary is the first section of your business plan that is typically written last. It provides an overview of all of the other sections in the business plan.Company Description: The company description section of your business plan is typically the second section, coming after the executive summary. The company description outlines vital details about your company, such as name of your company, where you are located, how large the company is, what you do and what you hope to accomplish.Products or Services: The products or services section of your business plan should clearly describe what products and/or services you are selling with emphasis on the value you're providing to your customers or clients.Market Analysis: The market analysis section of your business plan comes after the products and services section. It provides a detailed overview of the industry you intend to sell your products or services, including potential competitors. This section also addresses valuable information about what works and what does not in the marketplace.Marketing Strategy: The marketing strategy section of your business plan builds upon the market analysis section. This section outlines where your business fits into the market and how you will price, promote, and sell your products or services.Management Summary: The management summary section of your business plan describes how your business is structured, introduces who is involved, outlines external resources, and explains how the business is managed.Financial Analysis: The financial analysis section of your business plan should contain, the start up cost, the details for financing your business, what will be needed for future growth, as well as estimation of your operating expenses.