Tiebout Case Study

Tiebout Case Study
Charles Tiebout believed that people move from one political administration to another in search of their interests in government taxes and spending.
This theory suggest that people choose government in the same way as they choose their car, a home or any other things of their daily life. However
this shopping is affected by some other factors (Encyclonomic, 2000–2016).
The Tiebout theory says that people have two options for affecting the job of local government participation in economy. People can vote to replace the
government which not of their will, or they move to some other place which offers a more preferred policies (Taxes). These options improve the
assignment of resources matching the government activity with consumer favors. While there is a problem, all people don't have the same resources to
relocate themselves to place which better suits them. Some people have job problems which stop them from relocation, while some has some bond
with the community where they are living. On the other hand economists adopt only practically possible thing from Tiebout model.
The positive view of Tiebout is that we don't have to take care of the local government approach. The government has to make stable and reasonable
rules of taxes and benefits to make people stay or choose them, on the other hand if government fails to maintain cost benefit ratio they have to bear the
... Show more content on Helpwriting.net ...
Tibeout, Charles M. (Oct 1996), Political Journal 1 "A Pure Theory of Local Expeditures", Retrieved February 17, 2016.
2.Caplan, B. (Dec 2012), Case Study 1 "Absurdities of the Tiebout Model", Retrieved February 17, 2016.
3.Anonymous, Case Study 2 "World Health Report on UrbanPopulation Growth", Retrieved February 17, 2016.
4.Broadway, R., Tremblay, J. Francois, Journal of Public Economics publication "Reassessment of the Tiebout model", Retrieved February 17, 2016.
5.AmosWEB Encyclopedia, Amosweb (2000–2016), Report 1 "Tiebout Hypothesis", Retrieved February
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F1 Flies Research Paper
RESULTS
Table 1: Phenotypes of F1 flies produced by crossing wild–type females and no–winged males. FemalesMalesTotal
Wild–Type4753100
No –winged Mutant000
Table 1 shows the phenotypes of the F1 flies produced by crossing P1 wild–type females and P1 no–winged mutant males. The results of that cross was
that there were forty seven wild–type females and fifty three wild–type males. Therefore there was a total of one hundred wild–type flies that were
produced. The observed phenotypic ratio of wild–type flies and no–winged mutant flies was 1:0 (wild–type: no–winged). The predicted phenotypic
ratio if the no–winged mutation is autosomal recessive would be 1:0 (winged: no–winged).
Table 2: Phenotypes of F1 flies produced by crossing wild–type males and no–winged females. FemalesMalesTotal
Wild–Type5941100
No–winged Mutant000
Table 2 shows the phenotypes of the F1 flies produced by crossing P1 wild–type males and P1 no–winged females. The results of that cross was that
there was fifty nine wild–type females and forty one males. Therefore there was a total of one hundred wild–type flies produced from crossing P1 true
breeding wild–type males and P1 true breeding virgin ... Show more content on Helpwriting.net ...
The results of this cross was that there were thirty eight wild–type females and thirty five wild–type males. Therefore there were seventy three
wild–type flies. There were sixteen no–winged mutant males and eleven no–winged mutant females. Therefore there was a total of twenty seven
no–winged flies produced in this cross. The observed phenotypic ratio of wild–type flies and no–winged mutant flies was 2.7:1 (winged:
no–winged).The predicted phenotypic ratio if the no–winged mutation was autosomal recessive would be 3:1 (winged: no–winged). The П‡2 value
obtained for this cross was 0.213. The p value that was obtained for this cross was

Netflix Financial Ratios
Financial Ratio Analysis This financial analysis of Netflix, Inc. encompasses the years ending December 31 of 2012, 2013 and 2014. Financial data
was gathered from the 2012, 2013, and 2014 10–K filings with the Securities and Exchange Commission (SEC). For comparative purposes with
Netflix's competitors, data of Amazon, Inc. and Outerwall, Inc. were gathered from their 2012, 2013 and 2014 10–K filings with the SEC (see the
Appendix II). This financial ratio analysis demonstrates three ratios including debt ratio, inventory turnover ratio and return on sales ratio as the
following:
Debt ratio According to solvency ratio data (see the Appendix II), trends of Amazon's and Outerwall's debt ratio increased obviously from 2012 to
2014, but the trend of Netflix's debt ratio decreased constantly due to an increase in cash and short–term investments as its assets. Netflix invested in a
combination of securities, an acquisition of DVD content library, and streaming content delivery network. As the company increased its numbers of
subscribers, it needed to purchase more movies. Moreover, there were not any significant changes in its liabilities because Netflix does not own any of
its property locations other than its principal locations. ... Show more content on Helpwriting.net ...
As Netflix has more disc–based subscribers than Redbox, Netflix has higher cost of revenues than Outerwall's cost of sales and services through
Redbox. However, the Netflix's inventory turnover ratios are lower than Amazon's inventory turnover ratios because Netflix has a content library of
DVDs and streaming content as inventory. Furthermore, a trend of Netflix's inventory turnover ratios decreased over time probably due to rising

Zeus Asset Management
1. What is Zeus's investment philosophy?
Zeus's investment philosophy is based on the belief that superior investment results can be achieved over many years by following a conservative,
risk–averse, quality–oriented approach to investment management. In other words, the firm uses active approach to investment management, which
means the primary job of portfolio managers is to deliver the best possible performance relative to the benchmark's performance working within the risk
and other constraints specified in the client's mandate.
In detail, the equity fund aims to seek long–term growth of capital through investments in a high quality portfolio of stocks, whose earnings are
expected to grow at above–average rates. That is the growth ... Show more content on Helpwriting.net ...
Thus, Lipper Growth Index was proved to be an appropriate benchmark for the evaluation of the equity funds.
In one word, Zeus's equity funds outperformed the relevant Lipper Growth Index on both an absolute basis and a risk–adjusted basis. The current
investment–process and performance–evaluation measures were proper to the firm.
The table below shows some statistics computed from monthly returns of Zeus equity funds, S&P 500 Index, and Lipper Growth Index during
the given period. | Subperiod 1| Subperiod 2| Whole period| | Zeus| S&P500| Lipper| Zeus| S&P500| Lipper| Zeus| S&P500| Lipper|
Mean| 0.0070| 0.0097| 0.0084| 0.0188| 0.0220| 0.0190| 0.0130| 0.0159| 0.0137| Standard Deviation| 0.0224| 0.0244| 0.0255| 0.0324| 0.0355| 0.0349|
0.0280| 0.0306| 0.0305| Jensen's О±| –0.0016| | –0.0010| –0.0006| | –0.0013| –0.0012| | –0.0013| Sharpe| 0.1614| 0.2619| 0.1976| 0.4499| 0.4996| 0.4208|
0.3281| 0.3950| 0.3247| Treynor| 0.0044| 0.0064| 0.0054| 0.0170| 0.0177| 0.0163| 0.0107| 0.0121| 0.0107|
Bond Fund
Overall Performance (from Jan.1, 1991 to Dec.31, 1997)
Compared to the index––Lehman Brothers Aggregate Index, the average monthly return of the bond fund was 0.662%, which was slightly lower than
that of the index, 0.718%. However, Zeus did stick to its

Finance
RSM330 Assignment 2 – Group Work Due: March 20, 2015 in class & online Question 1: Fundamental Analysis (Total 20 Marks) a) i. These two
companies are both in the Auto Parts and Equipment industry. ii. The auto industry sells discretionary goods, which consumers can afford to
purchase more of in a booming economy. Therefore these companies stocks are cyclical since their price can be affected by ups and downs in the
economy. b) |Magma |2012 |2013 |2014 | |Net Profit Margin |4.6% |4.5% |5.1% |... Show more content on Helpwriting.net ...
To obtain full marks you must answer correctly and keep your answers very brief, clear and to the point. (a) Fama and French argued that value
stocks outperformed growth stocks because they were risker. The outperformance is explained by the excess risk that value stocks face as a result
of their higher cost of capital and greater business risk. (b) In the early 1980's and 1990's, the performance of value and small cap stocks was very
poor due to fact small companies were not as favored when compared to larger companies. Also the profitability of these small companies was
much less in comparison to large stock companies. Although, value and small cap stocks were once again was making a comeback by the late
1990's. Overall it is shown that value stocks consistently outperform growth, for example in 2000, when value stocks massively outperformed
growth stocks. Where as, small cap stocks are not as consistent in outperforming large cap stocks. (c) DFA's approach to trading small cap and
micro cap stocks was taking on the selling demand of market participants. The reason they did this is because they faced liquidity problems.
Therefore by buying large blocks of illiquid stocks they were able to remove the discount on the stock purchase and generate value for DFA and their
clients. Question 3: Canadian Mutual Funds (Total of 40 Marks) a) | |RBC

Problem Set
Me1
Problem Set #2
The US College Enrollment and the "Third Law of Demand" A theorem proposed by Professors Alchian and Allen in their text, University Economics
(1964) has had several rebirths of interest in the literature. The so–called "third law of demand," or "relative price theorem," holds that a fixed cost
added to a good of varying quality causes the consumer to prefer the category considered of higher quality to the lower.
Recently a number of studies, keeping this theorem in mind have looked into a relationship between the ratio of public to private enrollment and
unemployment in cross–sectional as well as in time series data. Part of the full cost of participating in higher education is foregone employment income.
In their ... Show more content on Helpwriting.net ...
Tables 2 and 3 show a clear distinction between the two genders.
Table 2
Dependent Variable: Enrollment Ratio for Males
(t values in Parentheses)
State Level Data
Repressors Coefficient Estimates
CONSTANT9.032
(1.196)
UNEMPLOYMENT 0.8753
(0.539)
UNEMPLOYMENT SQUARED 0.0l0
(0.409)
INCOME –0.00008
–(0.354)
FINANCIAL AID–0.1065**
–(1.618)
TUITION RATIO–5.4489
–(0.565)

POPULATION–0.0029*
–(1.881)
N= 51, R2 =0.1503 ,F =1.297
Table 3
Dependent Variable: Enrollment Ratio for Males and Females
(t values in Parentheses)
State Level Data
RepressorsCoefficient Estimates
Females Males
CONSTANT –286.542 9.032
–(1.210)(1.196)
UNEMPLOYMENT99.510*0.8753
(1.956)(0.539)
UNEMPLOYMENT SQUARED –1.187* 0.010
–(1.491)(0.409)
INCOME0.01515**–0.10008
(2.240)–(0.354)
FINANCIAL AID–4.4702** –0.1065*
–(2.165) –(1.618)
TUITION RATIO–114.185 –5.4489
–(0.378)–(0.565)
POPULATION –0.0636 –0.0029*
–(1.296) –(1.881)
N 5151
R20.2171 0.1503
F 2.034 1.297
**0.05 level of significance
* 0.01 level of significance

Investigating The Pricing Of Audit
Researches about audit pricing started in the 1980s with the publishing of Simunic (1980)'s The pricing of audit services: Theory and evidence. He set
out the multiple regression model of audit pricing and run the regression analysis using data from 397 listed companies in USA. Simunic took the
position that "audit fees are determined by the loss exposure of the client comlany, the apportionment rate of loss between the audit firm and the client
company, and the production function and characteristics of the audit firm". The results of his study demonstrate that the scale of an auditee is the
most significant factor determining its audit fees, despite other factors, such as the ratio of receivables to total assets of the client company and ... Show
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All of the researches mentioned above focus on developed economies, where audit markets have similar characteristics: audit markets are mature and
oligopolistic; audit markets operate under stable policy and regulation. However, things might be different in China, a developing economy, due to the
imperfect regulation and a highly competitive audit market, where top ten audit firms are only in charge of 30% listed companies during 2005–2007,
while big 8 audit firms dominated the audit market in developed economies in the same period (Li et al., 2005; Wang et al., 2008).
Most empirical studies of audit fees have come out due to government's requirement of Chinese listed companies to disclose audit fees in their financial
reports, since 2001. Some works investigate the determinants of audit fees directly. Wang (2002) became the first researcher to study audit pricing
determinants of Chinese listed companies. He concludes that the scale of client firm and auditor, the complexity of client firm, audit opinion, audit
risk, and the industry of client firms are of statistically significance in determining audit fees. Liu et al. (2003)'s research further concludes that the
location of client firm is significantly related to audit fees. Wu (2003)'s contribution is that there is a positive relationship between the changing of
audit opinions (basically from unqualified opinion to qualified

Mathematics Of Creative Writing : Exposing The Invisible Tool
Mathematical Proportions in Creative Writing: Exposing the Invisible Tool
In the academic world, creative writing and mathematical proportions are often considered to be located at opposite ends of the spectrum, but they are
not as different as they seem. Authors often need to carefully plan and divide their story to create an end result that is a balance between exposition
and dialogue, romance and action, or tragedy and comedy. That is where mathematical proportions come in–ratio and fractions in particular. Every
author uses ratio and fractions, whether they know it or not, and the proper use of them determines the quality of their writing. Who would read a
book that's 70% exposition or 100% dialogue? Therefore, in this essay I will ... Show more content on Helpwriting.net ...
Fractions can also be used to represent ratios or even division equations and all rational numbers. While fractions come in many different forms such as
mixed numbers, improper, vulgar and proper fractions, the function of a fraction is generally the same–to represent parts of a whole. To simplify the
matter further–if you can solve a division problem, then you are able to use fractions. In fact, you use fractions all the time without a hint of doubt.
For instance, when we tell the time, use or recipe or figure out the price of an object after a sale–it is all fractions. We use them every day, but why?
What is the inclination to measure ingredients in halves, quarters and two–thirds? Why do we reflexively say "Half past 3" when telling the time? It is
all because parts of a whole are far more common than complete collectives of any one thing. So let us take a step back and analyze a fraction: 2/5. 2
is considered the numerator, and 5 is the denominator. 5 would be the whole–for instance, there are 5 stuffed bears in total. But then 2 is the amount we
have from the whole–as in, we only have 2 of the 5 stuffed bears. A slightly more challenging problem would be saying that a $50 shirt is ВЅ price. To
solve this, we would simply convert 50 into an improper fraction (a fraction in which the numerator is larger than the denominator), 50/1 and multiply
it by ВЅ. This would result in the improper fraction, 50/2. You would then simplify

Swot Analysis : Strategic Management Essay
Strategic management has brought together all the areas I have learned in the business program; some better than others, but all. Intermediate and
advanced accounting seemed to help me with the ratio analysis because I got to analyze the financial statements of a company and use them to
calculate ratios such as: profitability, liquidity, and capital structure ratios. To implement a suitable strategy for our cases, I had to calculate the ratios
to find out how liquid the company was, and if it could pay bills on time. It also showed the company's return on investments and how the purchase of
assets was financed. It was difficult understanding what line item on the financial statement affected each of the ratios. For example, I know gross
profit margin was affected by sales and COGS, but I was not sure what else fit into the equation. I still do not fully understand every individual ratio in
the analysis, but I do understand how to compare a company to the industry. The other classes I have taken in the college of business such as; operations
management and management information systems helped me understand the implementation and control part of the case work we had to do. I
believe I will use operations management when I get out into the workplace because companies are keen on sales and efficiency, therefore, a consistent
business model is important.
Strategic management analyzes all the functional areas of a business and really makes you understand all the strategies that

HTC U11: Questions And Answers
HTC U11: Questions and Answers
In recent years, many things went wrong with HTC. The reason is that they could not create a competitive smartphone. The U11 model was supposed
to lead the Taiwanese manufacturer out of this whirlpool. Did it work out? Let's find out.
What is in the box?
The cute white box contains a charging unit and a USB cable, a clip for the SIM tray, a wired headset with removable ear pads, a plastic case, and an
adapter with USB C to the familiar 3.5mm jack. In general, the equipment turned out to be quite plush, by modern standards.
What is groundbreaking about the appearance?
Nothing unusual, familiar to other Smartphones they used a combination of glass and metal. The fact is this designs used in most brands available ...
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The Plus versions not been officially introduced yet. However, attracted attention for users due to a leak in the department and features a six–inch
screen with rounded edges, 18:9 aspect ratio, and a fingerprint scanner on the rear panel. The hardware remains the same.
For whom is the HTC U11?
The U11 will appeal to music lovers and mobile photographers – these performance indicators are at its height. In principle, it will suit gamers,
executives, and students. The hardware makes the smartphone universal, and interesting gesture management only attracts more attention. The
problem is that the U11 has tough competitors, such as the Galaxy S8 and Google Pixel, which are good; moreover, they have much more support of
their audience than HTC.
What are the shortcomings?
Summarizing all of the above, the main shortcomings of the smartphone are the short battery life. Further, it lacks a modern front panel. You can also
find fault with the camera and is slow. Then there is the lack of modern Bluetooth 5.0 and an audio port if this is critical for you.
What is the price of the HTC U11?
The cost of the smartphone starts from $650 let's say directly, the competition in this price category is way more serious than the HTC

The Role Of Intellectual Capital Information On The...
Advanced Financial Accounting ACCU9AA
Student No.: 1931783
13 November, 2014
Coursework Essay
Why would companies choose to disclose Intellectual Capital information in the narrative sections of corporate annual reports?
Word Court:
Page Court: 7
Introduction
The importance of Intellectual Capital information (IC) has been increased in the current economic. It refers to intangible resources which create
company value (Ashton, 2005). Human capital, structural capital and relational capital are the main categories of IC (Meritum 2002). There are some
factors of the IC, such as employee knowledge and innovative capacities (Usoff, Thibodeau, Burnaby; 2002). This is an "unrecorded value" of an
company which is not shown ... Show more content on Helpwriting.net ...
Analytical researches will based on the competition (Verrecchia, 1983; Darrough and Stoughton, 1990) and firm value (Hughes, 1986). On the other
hand, Empirical research will be mainly focused on the impact of the firm characteristics (Cerf, 1961). Elliott and Jacobson (1994) also claims that there
are three benefit of business information disclosure, the entity's interests, Non–owner investors' interests and the national interest.
The first part of the essay will be focusing on three categories of IC. Then, it will be discussing the relationship between IC and Market–to–book ratios.
Next, it will be focusing on the future benefit of voluntary disclosure.
Human Capital
Human capital plays a considerable role in the economic environments. It is not cash, assets, but it is people, which are the critical differentiators of a
business enterprise (Fiz–enz, 2000). It is an organisation's possess individual tacit knowledge (Nelson and Winter, 1982). There are four factors
involved by human capital: genetic inheritance, education, experience and attitudes about life and business (Hudson, 1993). All of these factors are
intangible and can be invaluable. Human Capital is a source of innovation and strategic renewal, such as improving personal skills, re–engineering new

process or just daydreaming at the office (Hudson, 1993). According to Figure 1 (Bontis, 1998), Human Capital is about the intellect of human. It is an
internal control and development

Case Analysis : ' Barua And Verma '
Chapter 2 REVIEW OF LITERATURE Barua and Verma (1991) gave observational proof of value shared asset execution in India. They considered
the venture execution of India 's initial 7year close–end value common asset, Master offer. They found that the asset performed palatable for huge
speculator as far as rate of return. Ippolito (1992) communicated that reserve/plan determination by speculators depends on past execution of the assets
and cash streams into winning supports more quickly than they stream out of losing assets. Sarkar and Majumdar (1995) assessed money related
execution of five close–finished development reserves for the period February 1991 to August 1993, reasoned that the execution was underneath
normal as far as alpha values (all negative and factually not huge) and stores had high hazard. Jaydev (1996) assessed execution of two plans amid
the period, June 1992 to March 1994 as far as returns/benchmark examination, expansion, and selectivity and business sector timing abilities. He
presumed that the plans neglected to perform superior to the business sector portfolio (ET 's normal offer value list). Gupta and Sehgal (1997)
assessed common asset execution over a four year time span, 1992–96. The example comprised of 80 shared asset plans. They presumed that shared
asset industry performed well amid the time of study. The execution was assessed as far as benchmark correlation, execution starting with one period
then onto the next and their danger return

Nurse Patient Ratio And Patient Outcomes
Nurse Patient Ratio and Patient Outcomes
Nurse staffing have an effect on a variety of areas within nursing. Quality of care is usually affected. Hospitals with low staffing tend to have higher
incidence of poor patient outcomes. Martin, (2015) wrote an article on how insufficient nursing staff increases workload and job dissatisfaction, which
in effect decreases total patient care over all. When nurse staffing is inadequate, the ability to practice ethically becomes questionable. Time worked,
overtime, and total hours per week have significant effect on errors. When nurses works long hours, the more likely errors will be made. He also argued
that inadequate staffing not only affects their patients but also their loved ones, future and current nursing staff, and the hospitals in which they are
employed. An unrealistic workload may result in chronic fatigue, poor sleep patterns, and absenteeism thus affecting the patients they take care of.
According to Martin (2015), California is the only state that stipulates that in law and regulations have a required minimum nurse to patient ratios to be
maintained at all times by unit. Nurses across the United States are talking to their Senators to help them lobby bills that would help establish a
minimum nurse to patient staffing ratios for all hospitals in the country, among other improvements of nursing rights. Nurses from around the country
also visited Congressional Representatives on Capitol Hill and urged them to support

238720918 Zeus Asset Management Case Week 5
Executive Summary Main differences of Zeus from its main competitor are its customer–oriented services, their core strategy of teamwork and they
used municipal bond fund to purchase securities. Estimation of risk–adjusted returns is important to Zeus as In Zeus opinion, investors will not pay for
the higher return generated by merely taking the higher risk. Investors demand Zeus to utilise professional skills to provide them with a return above
the benchmark. There are also advantages and disadvantages of each of the risk–adjusted return measures employed, making some of them to be better
applied to a specific type of fund comparison than the others. Introduction: Zeus Asset management is a fund management firm founded in 1968 in...
Measuring systematic and idiosyncratic risk. Disadvantages: Merely a ranking criterion. Number value is not economically meaningful Normal
distribution assumption result in bias. Treynor ratio: measure return in excess of the risk free rate relative to systematic risk. Advantages: It can be
compared with the benchmark performance or other portfolio with the same benchmark. Disadvantaged: Only useful as a sub–portfolio measure of a
board or fully diversified portfolio. Jasen's Alpha: measures the average return on portfolio over and above that predicted by CAPM. Limitation: An
absolute measure does not adjusted for any risk. It is not able behave proportionally to the level of required return of portfolio. Information ratio: the
information ratio divides the alpha of the portfolio by the nonsystematic risk. Limitation: it relies on a measure of standard deviation. It does not
present the averaging property. For Zeus, risk–adjusted return is very important due to several reasons: By analyzing the performance of the various
mutual funds, it would help the company to establish its internal rules regarding the level or risk and return. They can use this method to measure the
excess return they earned for each unit of risk they take. It is more comparable to the benchmark and other portfolios with different structure and risk
level. Benchmark comparison Equity fund: Zeus's equity fund aim for long–term growth of capital through investments in a

Alternative Beta Funds Are All High Dividend Oriented
1) Alternative beta funds are all high–dividend oriented and therefore strive to provide low variance on high returns, achieved through a combination of
active management and passive tracking of their corresponding benchmark indices. The differing benchmarks mean that each ETF is invested in
different sectors and firms and these strategies lead to varying performance. RDV RDV matches the Russell Australia High–Dividend Index; its
investments are primarily in large, well established firms such as financials and property trusts (highest of the four ETFs). RDV's investment consists
of 50 large–cap stocks for diversification, and as firmly entrenched companies, these value stocks tend to lower risk with a more constant stream of
dividends... Show more content on Helpwriting.net ...
IHD IHD's portfolio contains 50 securities from the ASX300, like RDV, and also limits individual equity weights at 4%, the lowest of the four ETFs.
Consequently, VHY VHY diversifies its securities by limiting sectors to 40% and individual funds at 10% to avoid overinvestment in a single stock.
These limits are the highest of the four funds and therefore VHY sees large investment in large–cap value stock on the ASX that have a historically
strong dividend payout. 2) The proxy for all ETF analysis is the ASX300 due to ease of information availability. Ideally, individual benchmarks would
also be used to identify the effectiveness of managers in matching their desired indices. However, using the market portfolio does allow better
comparison of performance individual ETFs against each other relative to the market (Henriksson 1984) and makes analysis under CAPM,
Single–Index Model and related measures more accurate. Furthermore, the R–Squared is high for all stocks against the ASX300 indicating a robust
relationship. Comparing the four ETFs, the fund with the highest monthly excess–return, on the risk–free rate, is VHY (0.024%). Clearly this is not
risk–adjusted and consequently the reward–to–variability ratio (Sharpe 1964) is utilised to quantitatively measure return for each ETF relative to the
total risk it exposes investors to. However, the returns for all ETFs are not normally distributed, by analysing Kurtosis and skewness, and
excess–returns are

Case Study Of Financial Values
As a team, we analyzed two individual securities, a fund, and the S&P 500 based on historical data. We found closing prices on a monthly basis
for a total of 5 years for each security, fund, and index. As individual securities, we analyzed Lululemon Athletica (LULU) and Molina Healthcare
(MOH). For our choice of fund, we analyzed USA Mutuals Vice Investor (VICEX). Finally, for the index, we analyzed the S&P 500. We took the
historical data from yahoo finance and used Excel to find the Standard Deviations, Sharpe Ratios, HPR's, and regression analysis for each of the
securities listed above.
The Beta of the individual security, LULU is about 0.15, while the Beta of the portfolio, VICEX, is about 0.82. This means that for every dollar the...
However, if a stock climbs from $5 to $10, it gained 100% of its value. This could be the reason that the average monthly return is positive. When
looking at a monthly basis, the stock could be increasing and decreasing in price, but the increase in price has a greater weight on percentage change.
The Sharpe Ratio of LULU, 0.0004, is the lowest of the four securities we analyzed. This means that the risk–adjusted return is very low, and this
security wouldn't be the first choice for someone to invest in based on the other options given.
VICEX, the portfolio, has a total annual return of 77% and an average annual return of 12%. This gives VICEX an average monthly return of about
1%. This portfolio competes pretty well against the S&P 500, however the Sharpe is 0.1755. This is considerably lower than the Sharpe of the S&P
500 meaning that on a risk–adjusted basis, the S&P 500 would be a better investment than VICEX. This was the second lowest return when it is
compared to the other individual securities and the S&P 500. The average monthly return was closest to the S&P 500. Thestandard deviation of VICEX,
0.0475, was the second lowest compared to the individual securities and the S&P 500. A low standard deviation is a good indicator when examining
securities since it means that their returns vary minimally.
The Beta of VICEX is about 0.815, while the alpha is about 0.0022. The alpha here

Performance Evaluation of Finnish Mutual Funds
Performance Evaluation of Finnish Mutual Funds
2014
TABLE OF CONTENT
1! ABSTRACT ............................................................................................... 1!
2! INTRODUCTION ..................................................................................... 2!
2.1.! Purpose ................................................................................................................. 2!
3! THE FINNISH FUND MARKET .............................................................. 3!
4! PREVIOUS RESEARCH ........................................................................... 5!
5! METHODOLOGY ..................................................................................... 8!
5.1.! Standard ... Show more content on Helpwriting.net ...
In actively managed funds the manager tries to beat the market by selling and buying assets. Passively managed funds consist of a large number of
assets and try to by diversification to perform as well as the market. The passively managed funds are much cheaper as they require less work and
transactions. This research tries to address the problem from an investor's point of view, which kind of funds are the best ones to invest in? If the
active funds would constantly outperform the market the effective market hypothesis should be questioned. Still there might be some funds that can
beat the market due to luck or skill of the fund manager. There is evidence going both ways depending time period or researcher. By using risk
measures and performance we will try to give some more insight in the discussion and the
Finnish market situation at the moment.
2.1.! Purpose
The purpose of this paper is to study the performance of the Finnish fund market through studying the individual funds on the market.
3
3!

THE FINNISH FUND MARKET
Most of the investments made by private investors in Finland are made via local banks, like in the rest of Europe. The Finnish banks charge high
expenses in comparison to other banks for managing a mutual fund, which is most likely due to the fact that the private households in Finland are loyal
customers to one bank and

Merger
For around 25 shares of Re 1 of CBoP, an investor will get one share of Rs 10 of HDFC Bank. In last two days, share price of CBoP moved from Rs
49.85 on Wednesday to Rs 56.40 on Friday. However, it seems, investors of HDFC Bank did not like the development. The share price of HDFC Bank
on Thursday moved up from Rs 1,534.50 to Rs 1,543. But on Friday, it fell sharply to Rs 1,475. Prior to this, in August 2007, CBoP was merged with
Lord Krishna Bank.
* 2008 HDFC Bank acquired Centurion Bank of Punjab.
The swap ratio is expected to be around 1:25–30," said a banking source. The merger will make HDFC Bank the country's seventh largest bank after
Bank of India (BoI) and ahead of IDBI Bank, from the current 10th position. The merger ... Show more content on Helpwriting.net ...
CBoP shareholders will get one share of HDFC Bank for every 29shares held by them.HDFC Bank and Centurion Bank of Punjab have agreed to the
biggest merger inIndian banking history, valued at about $2.4 billion.
Rana Talwar's Sabre Capital would holdless than 1 per cent stake in the merged entity from 3.48 in CBoP, while Bank Muscat's holding will decline
to less than 4 per cent from over 14 per cent in CBoP.HDFC shareholding falls to will fall from 23.28 per cent to around 19 per cent in themerged entity.
The merger has been accounted for as per the pooling of interest method of accounting in accordance with the scheme of amalgamation. Adjustments
have been made to the amalgamation reserve to harmonize accounting policies of CBoP with that of HDFC Bank principally relating to provisioning
norms on impaired loans and depreciation policies on fixed assets. Merger related expenses have also been adjusted against the amalgamation reserve.
The amalgamation was accounted for as a business combination under the purchase method of

Advantages And Disadvantages Of Valuation Of Admission Of...
Chapter contents:
Meaning
Reasons of admission of a partner
Effects of admission of a partner
Ratios associated with admission of a new partner
Treatment of goodwill
Meaning and definition of goodwill
Methods of valuation of goodwill
Problems on admission of a partner
Introduction:
When a new partner is admitted to a existing partnership firm it is called as admission of a partner
A new partner may be admitted to a following reasons among them some of them are
To accumulate more capital
To expand the current business operations
To share the profits and losses among the partners according to the aggrement
To secure greater managerial ability
To make use of new partner skill and talent
Admission of a partner:
The ... Show more content on Helpwriting.net ...
Super profits of well established firm. For getting this right new partner usually brings some amount of cash this is known as Goodwill
Ratios associated with admission of a new partner
Sacrificing ratio of all partners
New profit ratio of all the partners

1: Sacrificing ratio of old partners : It is the ratio in which old partners sacrifice the share of the profits to the new partners. The sacrifice ratio is
required to be calculated for the purpose of distribution of goodwill brought in by the new partner among the old partner in their sacrifice ratio
The sacrifice ratio is the difference between the old profit sharing ratio and the new profit sharing ratio of the old partners
Old partners sharing ratio and share of the new partner is given
In this case we should assume that the old partners sacrifice or surrender to the new partner in the same ratio as their old profit sharing ratio .Hence the
old profit sharing ratio in the sacrifice ratio
Example:
A and B are partners sharing profits in the ratio 3:2 They admit C in to the partnership firm and C gets Вј share calculate the sacrifice ratio.
In this case sacrifice ratio of A and B is 3:2 i.e. their old profit sharing

Zeus asset management
ZEUS ASSET MANAGEMENT INC.
Huy Tu Nguyen
22491465
1. Overview of Zeus Asset Management Inc.
Founded in 1968, Zeus Asset Management Inc. (ZAM) is an independent, money – management company offering services to both institutional and
individual clients. ZAM follows a conservative, risk–averse, quality–oriented investment management to exploit the extra return from long term
strategies. In fact, the company's investment philosophy of risk–aversion can be guaranteed by the experienced staff, who have the average of 18 years
of experience in the sector and have deal with recession and major market downturns, compared to the age of 26 on average and 5 years of experience
in Fidelity Investments' staff – the largest asset–management ... Show more content on Helpwriting.net ...
Hence, it facilitates analysts to compare the risk–adjusted performance of different portfolios based on the level of the ratio which higher Sharpe ratio is
considered to be better than the lower ones.
– Sharpe ratio refers to the differential between two portfolios, providing the information to choose between two investment opportunities, given the
returns of them are uncorrelated the rest of the company's portfolios.
– Lastly sharpe ratio avoids the drawback of alpha and beta which are high volatility measures.
– Sharpe ratio may not give the reliable assessment if one or more of the assets is correlated to the rest of the portfolio.
– Sharpe ratio does not take into account the systematic risk as well as other non–quantifiable factors, such as: changes in economic and political
background...
2.2 Treynor ratio
2.2.1 Definition
Treynor ratio is a measurement of the returns earned in excess of that which could have been earned on an investment that has no diversifiable risk.
Treynor ratio is calculated as following:
Treynor ratio= with ОІ is the systematic risk for portfolio, Rp is the average return of the portfolio and Rf is the average of the risk–free rate
2.2.2 Advantages and disadvantage of Treynor ratio
Advantages
Disadvantages

– Treynor ratio shows how a fund will perform not in relation to its own volatility but the volatility it brings to an overall portfolio.
– Investors can use the Treynor ratio to

The Schematics of a Film Disk
The characteristics of the disc surface affect the flow patterns generated on the film as well as the residence time of the reactants film. The effect of
disc texture on particle characteristics is depicted in Figure 7 and Figure 8. It can be seen that using the grooved disc surface results in smaller particle
size and narrower particle size distribution as compared to smooth disc surface. A narrow particle size distribution for the production of silver
nanoparticles was achieved by Iyer et al.[43] using the grooved disc. The authors postulated that that the corrugated nature of the grooved disc
promoted shear induced micromixing of the thin film on the disc at higher rotational speed. The efficient micromixing ensured that all the particles
were exposed to the similar conditions to maintain a narrow size distribution [43]. Similar enhancement effects of grooved surfaces have been
reported for styrene polymerisation in the SDR [9]. It has also been suggested in the literature that surface textures have the potential to suppress
liquid channelling or rivulet flow compared to a smooth surface under identical conditions of liquid flowrate and liquid properties so that a higher
wetted area is achieved [44]. Rivulet flow as opposed to film flow would result in larger average film thicknesses which may lead to detrimental
performance, especially under strictly laminar flow conditions (i.e. where any surface wave–induced turbulence is absent). Thus, the intensifying effects
of the

The Investment Performance Of India Essay
REVIEW OF LITERATURE
Barua and Verma (1991) provided empirical evidence of equity mutual fund performance in India. They studied the investment performance of India's
first 7year close–end equity mutual fund, Master share. They found that the fund performed satisfactory for large investor in terms of rate of return.
Ippolito (1992) expressed that fund/scheme selection by investors is based on past performance of the funds and money flows into winning funds
more rapidly than they flow out of losing funds. Sarkar and Majumdar (1995) evaluated financial performance of five close–ended growth funds for the
period February 1991 to August 1993, concluded that the performance was below average in terms of alpha values (all negative and statistically not
significant) and funds possessed high risk.
Jaydev (1996) evaluated performance of two schemes during the period, June 1992 to March
1994 in terms of returns / benchmark comparison, diversification, selectivity and market timing skills. He concluded that the schemes failed to perform
better than the market portfolio (ET's ordinary share price index). Gupta and Sehgal (1997) evaluated mutual fund performance over a four year period,
1992–96. The sample consisted of 80 mutual fund schemes. They concluded that mutual fund industry performed well during the period of study. The
performance was evaluated in terms of benchmark comparison, performance from one period to the next and their risk–return characteristics.
Mishra (2001)

Cut And Chip Test Testing
Cut–and–Chip Test
Ohio Northern University
May, 2016 – July, 2016
Background: Cut–and–chip is a phenomena in tires that manifests itself primarily from prolonged off–road use. As the tires are used off–road, the tread
compound will be cut by rocks and eventually large pieces of the tread rubber are chipped off. Current tests involve manufacturing a series of test tires
and sending them to a test track in Texas. The tires are then run on a controlled gravel road. Each set of tires is run for 1000 miles, 500 each day for
two days. In each set of 500 miles, 100 miles are on flint rock and 400 miles are on the highway. The tires are then ranked visually by multiple engineers
to determine which rubber compounds demonstrate the best cut–and–chip resistance. Thus, current testing is expensive, time–intensive, and subjective.
Students at Ohio Northern University therefore built a tester that can use a lab test for tread rubber compounds. Cooper will be able to save time and
money by testing much fewer compounds with the road test. However, although this tester is a very successful design, the cut–and–chip lab test using
this tester is a brand new idea that has never been done by any engineers, as we know. Therefore, a summer intern project was created to investigate the
usage of the tester and the cut–and–chip lab test. It should be noted that the investigation is a proof of concept study that many trials have to be
performed to use the lab test for tread rubber compounds to

Ratio Analysis Paper
Ratio Analysis Paper
Ratios describe the various relationships among accounts in the balance sheet and income statement. Financial ratios are important and helpful gauges
of how an organization is functioning. An organization's financial health, potential revenue, and even possible bankruptcy can be garnered from
financial ratios. Information derived from financial statements is used to calculate most ratios and make projections. "Ratios help investors and lenders
determine the risk associated with lending or investing funds in an organization" (GE Financial Healthcare Services, 2003, para 1). According to
Finkler and Ward (2006), "the key to interpretation of ratios is benchmarks. Without a basis for comparison, it is... Show more content on
Helpwriting.net ...
The trend shows steady growth over the past three years, which is promising for increased growth into the future. The benchmark for this ratio is the
goal set by the board or a comparison to industry peers. Increases in tuition or student enrollment will increase the earned income potential for The
Children's Home, thus raising the self sufficiency ratio for the organization. This could also augment any decreases in government aide.
Expense Ratios
Personnel Costs Ratio Costs related to staffing generally take up the largest portion of the budget. Adjustments to staffing percentages are easily seen in
the budget. Formula: Total wages, taxes and benefit expense / Total expenses = Personnel costs ratio.
FS 2010: $1,639,564 / $14,904,356 = 0.11 or 11%
FS 2009: $1,446,010 / $14,584,770 = 0.09 or 9%
FS 2008: $1,199,759 / $12,678,305 = 0.09 or 9% The Children's Home maintains a low personnel costs ratio. The trend over the last three years
shows a steady staffing percentage with a slight growth. The benchmark for this ratio is set by the board or is by comparison to industry peers. This
organization should take note of the fact that, when this ratio is low, there is little room for staff alterations in the face of financial crisis.
Administrative Cost Ratio This is an important ratio that nonprofit organizations and supervisory bodies frequently check and assess for changes over
time. Formula: Total

Should Druthers Forming Limited Be Given the Loan?
Should Druthers Forming Limited be given the loan?
Background
Druthers Forming Limited was incorporated in 1987 by Mr. Garrett, Norm Sheppard and one other investor with the primary objective to served the
need of Sheppard homes. But in the late of 1980's, Jack Sheppard observed the demand of foundation far outstripped supply in the region and long
waits for foundation construction had become standard. ori Norm Sheppard have requested on July 30, 2007 an amount of $350,000 loan from Mr.
Brad Mac Dougall, account manager at the Canadian Commercial Bank (CCB). To know whether or not this amount needs to be passed depends on
several factors thus for this purpose there are several questions that are needed to be answered before this decision ... Show more content on
Helpwriting.net ...
For the year 2007 the total asset was $423,504 and total equity is $302,115 which is equal to 28.6%. This is not bad for any company but considering
the Banks point of view it would be a lot better if it was higher that 30%.
The next question that was presented is to consider the working capital requirements, including performing a sensitivity analysis on the days of
accounts receivable, inventory and/or accounts payable.
As given in the working capital for the year 2007 is $183,129 which compared to previous years has fallen drastically. This means that the financial
health of the company is deteriorating and this will keep on happening until the company improves it working capital. In terms of Accounts
Receivable, Inventory and/or Accounts Payable the age period is 157 days, 12 days and 57 days respectively. The best way to calculate this is to
use ratios and for this purpose we will first look into the Days Sales in Inventory which is 365 / Inventory Turnover which is given as 12 days. This
means that the company will receive their inventory 30.4 times in 365 days which is very good for the company's cash flow and will thus benefit the
bank as well.
As for Accounts Receivable we need to take a look at the ratio called Days Sales in Receivables which is 365 / Receivables Turnover. This is also given
to us as 157 days which means that it will take 2.32 times for the company to cover its accounts receivable and

Value Analysis Of Nestle
. We can see that the value for this ratio in NestlГ© is roughly 0,41. In order to avoid liquidity problems, the ratio's value must be closed to 1, but we
can see that the value for this ratio in NestlГ© is roughly 0,41. Since it is quite lower, it means that NestlГ© has risk of bankruptcy, due to the fact that,
with the resources owned in short term, the company cannot pay back its short–term liabilities. This could be related to the fact that NestlГ© has a
very high bargaining power that could useful for them in order to exercise their power on suppliers to negotiate their payment commitments.
SOLVENCYRATIOAND LIQUIDITY RATIO By means of solvency ratio, short
–term assets are compared with short–term liabilities and it shows the
liquidity situation of the company's cash. It is also known as working capital ratio or solvency ratio at short term.
NestlГ© has admitted that their negative working capital is not a desirable situation and they must work on this aspect. But is this situation a real
risk? Comparing the collection period and the credit period of the company, we see that the last one is higher and it has been increased over the years, ...
This is mainly due to a remarkable margin ratio, which is considerably higher than the others. In contrast, the turnover is slightly lower but similar to
the mean, and the leverage ratio is also inferior in comparison to other companies which mean that NestlГ© manages to finance its assets with a
smaller proportion of debt than other firms in the same industry. On 2011, the ROE of NestlГ© was a little higher than the average of the other
companies, but lower than 2012 by approximately 3 percentage points. Looking at the ratios we can find easily the explanation: every one of them is
lower than the ones from 2012. If we compare the ratios to the average of other companies, the margin ratio is also higher, but the turnover and the
leverage

Harding Loevner International Equity
COMPETITIVE ANALYSIS
Harding Loevner International Equity vs WCM Investment Management International Equity (HLMIX and WCMIX are proxies that represent the
respective portfolios)
INVESTMENT STYLE
The investment style for HLMIX and WCMIX is Foreign Large Growth. The index for each portfolio is the MSCI All Country World Index Ex US.
INVESTMENT PROCESS
HMLIX is a diversified portfolio of high–quality companies that have sustainable growth. Analysts conduct bottom–up research of individual
companies and analyze competitive industry dynamics to identify the best growth companies that are trading at attractive valuations. To qualify as a
investment, companies must be well managed, financially strong, and possess clear competitive advantages ... Show more content on Helpwriting.net ...
SECTOR AND REGIONAL DIFFERENCES
The table below contains information on the sector and regional breakdowns for both strategies. HLMIX and WCMIX have allocations which differ
from one another and from the index. Both funds have investment criteria which exclude Telecom and Utilities from portfolios. On a relative basis we
find that HLMIX has is overweight energy, financials and materials while WCMIX has a meaningful overweight to consumer discretionary.
There are also significant differences by region. HCMIX is overweight in European Developed Markets, Asian Developed Markets and Japan while
WCMIX is overweight in North America and Asian Emerging Markets. COMPETITIVE ANALYSIS HLMIX (12/31/16)
Sector Exposure
Consumer Discretionary 7.11% Consumer Staples 10.6% Energy 7.09% Financials 17.05% Healthcare 15.63% Industrials 12.5%
Info Technology 21.86% Materials 7.45%
Real Estate 0.97% Telecom 0%
Utilities 0%
Regional Breakdown
North America 9.42% Latin America 2.95% United Kingdom 10.41% Europe Developed 41.01% Europe Emerging 0.79% Africa/Middle East 5.53%
Japan 14.11% Australasia 1.38% Asia Developed 10.89% Asia Emerging Market 3.5%
WCMIX (10–31–16)
Sector Exposure
Consumer Discretionary 18.42% Consumer Staples 12.93% Energy 2.9% Financials 10.27% Healthcare 20.45% Industrials 10.36%
Info Technology 21.48% Materials 2.66%

Real Estate 0% Telecom 0%
Utilities 0%
Regional

Modification Of Spray And Wait Protocol For Vdtn
Modification in Spray and Wait Protocol for VDTN
Vyomal Pandya*1 , Prashant Dolia#2 ,Sharmila N. Rana*3,
*Electronics And Communication Department,C.K.Pithawalla College of Engg.& Tech., Surat, Gujarat,India
#Department of Computer Science And Applications, Maharaja Krishnakumarsinhji Bhavanag University, Bhavnagar,Gujarat,India
1vyomal.pandy@ckpcet.ac.in 2prashant.dolia@yahoo.com 3sharmila.rana@ckpcet.ac.in
Abstract: Because of high speed of vehicles, short contact durations and rapid changes in topology occurs in Vehicular Delay Tolerant Network
(VDTN). This will generates few transmission opportunities and high and unpredictable delay. This problem can be solved by different routing
protocol of VDTN. The VDTN protocol can be divided as single copy and multi copy. In single copy protocol the node is allowed to generate the
unique copy of message and forward it on a unique path. The multi copy protocols generate and transmit the multiple copies of each message and
forward it along various paths. If more number of copies spread in network there are more chances for successful transmission. The objective of
paper is to improve performance of VDTN by modifying existing Spray and Wait protocol. In this paper we provide proposed algorithm for modify
spray and wait protocol for improving delivery probability with different number of message copy. The modifications based on stored number of
message copies at source/rely nodes and encountered nodes ratio.
I.INTRODUCTION

Safeguarding Essay
The welfare requirements of EYFS has now become the safeguarding and welfare requirement (SWR) since September 2012. The SWR have several
features connecting to essential actions taken by childcare settings to deliver safety to children. The safeguarding and welfare requirement contains
cases of adults' behaviour which covers the cyphers of abuse and neglect. It is essential that if staff becomes conscious of any such signs, they should
respond suitably in order to protect children. Regular staff meeting should be help and staff trainings should also cover recognising adult behaviour. All
childcare settings must implement a safeguarding policy and other procedures, which should be in agreement with the regulation of the Local... Show
more content on Helpwriting.net ...
Staff and managers are also required to meet frequently to talk over specific cases concerning children under a staff's supervision. Safety and
Suitability of premises: It is a requirement that there are suitably qualified people on site and that the ratio of staff is appropriate for safety of all
children. It is also important to have safeguarding policies updated at all times, staff are encouraged to read all policies and procedures and adhere to
them. Lastly, making sure that the locations, environment and equipment are suitable for the children including outdoor and indoor spaces, furniture,
equipment and toys, according to age/ stage. 1.2 explain the lines of reporting and responsibility within the work setting. In my setting all staff report
to nursery manger and if she is not present the deputy manager or provider is in charge. Any problems and concerns are discussed with the manger
and she will then try to deal with them professionally. 2.2 Explain systems for supporting children's safety when; a) Receiving children into the setting
b) ensuring their safety on departure c) during off site visits. Receiving children into settings can be very busy therefore it is very important to have a
clear system put in place to welcome children into the setting. We ensure that a risk assessment is carried out before children can enter the setting so
any dangers and risks can be minimised. It is important that the

Case Study : John & Marsha on Portfolio Selection
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Examples Of Classroom Observation
"More important than the curriculum is the questions of the methods of teaching and the spirit in which the teaching is given" states Bertrand Russell.
Observations prepare future teachers to experience how classrooms are conducted every day in turn providing them with the resources that will
eventually exist in their own classroom. I witnessed many techniques in the classrooms that will be very beneficial throughout my teaching career that
will aid in motivating, inspiring, and assisting students. My observation was at Webb City Middle School in Webb City, Missouri with Lori Smith's 6th
grade class. Mrs. Smith utilized several teaching strategies throughout my observation that helped the students learn, and maintain classroom
management. Some of the strategies were: call and response sayings, collaboration, and checking for understanding. Call and response helped the
students to stay on task when they began to lose interest or began to talk to their neighbor. Some of the call and responses were: class...class...yes...yes,
and oh wonderful class...oh wonderful teacher. Collaboration supports students in the learning process when they are presented a problem and the
students have to work through it together to come up with an appropriate answer. I loved how she structured the lesson on ratios and fractions. Mrs.
Smith began the lesson by modeling some of the problems on the smart board with a worksheet. The questions revolved around the examples: Susan
has 4

The Performance Of 16 Small Group Of Reits
Smith and Shulman (1976) analyzed and compared the performance of 16 small group of REITs to the S&P 500 index, saving accounts, and 15
closed–end funds over the twelve–year periods from 1963 to 1974. They found that on average, REITs provide higher returns than the S&P index and
saving accounts over 1963–1973 periods. However, the performance of REIT stocks was extremely poor (underperformed) in 1974 that their REITs
underperformed the S&P 500 index over 1963–1974 periods if the recession year of 1974 is included. Kuhle et al. (1986) also discovered that REITs
underperformed the S&P 500 in 1973–1976 period and outperformed the S&P index in 1977–1984 period. Titman and Warga (1986) concluded that the
risk–adjusted return performance of... Show more content on Helpwriting.net ...
With the use of standard risk–adjusted performance measures of Sharpe (1966), Treynor (1965) and Jensen (1968), Benefield et al. (2009) examined
the differences in performance between diversified and specialized REITs. They found significant differences in risk–adjusted performance between
diversified and specialized REITs and the difference is depend on the overall market condition. Diversified property type REITs have outperformed
during good market conditions than those specialized property type REITs. They did not reject that during less favourable market conditions,
specialized REITs have better performance than those diversified REITs. Kim et al. (2002) conducted a comparative analysis of Jensen's alphas to
examine the performance of hotel REITs with those of the overall market and six other REIT sectors using Jensen Index over the 1993–1999 period.
The results show that while risk–adjusted return of hotel REITs was in line with that of the overall market, the hotel REIT sector as a portfolio
underperformed office, industrial, and diversified REIT sector. Studies in Singapore and Malaysia Liow (1997) examined the historical performance of
Singapore property share returns in 1975–1995 and found that the property

General Electric, A Global Digital Industrial Company
General Electric is a global digital industrial company that was incorporated on April 15, 1892. They are categorized in the industry of diversified
machinery. GE has nine different segments that make up their entire company, these include power, renewable energy, oil and gas, energy
management, aviation, healthcare, transportation, appliances and lighting, and capital. Referring to the stock chart on Google, it's pretty easy to tell
whether or not General Electric Company outperformed the market or not. In majority of 2015, they stayed pretty consistent with the market
fluctuating back and forth with each other. In 2016 GE outperformed the market significantly. Overall, GE stock increased 16.48% in the last 2 years,
whereas S&P 500 only increased 8.9% in those two years. Jensen's Alpha, Sharpe Ratio, and Treynor Ratio are performance evaluation measures that
all have to do with the return the company earned based on the risk that was taken. Jensen's Alpha takes into account the realized return of the portfolio,
realized return of the market index, risk–free rate, and the beta. General Electric had a Jensen's Alpha of 0.74. Any positive number means the company
earned more than enough to compensate for the amount of risk taken. Sharpe Ratio considers the average rate of return, the risk–free rate, and the
standard deviation. GE received a Sharpe ratio of 0.22. A ratio of 1 or higher is considered good, so in this case GE did not receive a very high return
considering the

CLABSI Scenarios
As the CEO of a hospital with the highest Central–Line Associated Blood Stream Infections (CLABSI), I am approaching the problem from an
evidence–based standpoint. My first step is to engage each team member, especially senior leadership, and ensure that everyone is on board to reduce
CLABSI occurrences. In a formal, mandatory meeting, I am giving all staff members a detailed overview of the plan as well as an achievable goal for
the upcoming fiscal year. While outlining my expectations, I will welcome the infection control team to discuss successful evidence–based strategies
and practices. Although the Department of Infection Control and Prevention will take the lead in the investigation, it is important to note that no single
method or... Show more content on Helpwriting.net ...
Once calculated, the ratio is equal to the percentage of patients with a central–line or catheter (Partners and Outcome..., 2015). Using the same example
as above, if there were 3,000 central–line days out of 5,000 total days in the ICU, the central–line utilization ratio would equal or .60 or 60%. The end
goal is to have zero CLABSI in a given time period, with a relatively low utilization ratio. CLABSI rates above the 25–30th percentile or utilization
ratios in the 80–90th percentile will require immediate further

Children On The Waitlist For Licensed Nursery School
Title: Children on the Waitlist for Licensed Nursery School in Tokyo.
From: Public Secretary of the Governor in Tokyo Metropolitan Government
Preface:
According to the Tokyo Metropolitan Government (TMG) report, there are 8,466 children on the waitlist for nursery schools in Tokyo as of April 1st
2016, Japan . The number has been increased by 652 from last year. This situation is the problem from viewpoints of two perspectives.
First, it will lead to the delay of women participation in labor force, and it can be serious from the viewpoint of human rights. According to the report
of Ministry of Health, Labour and Welfare (MHLW) in Japan, theratio of female and male workers who took the child–care leaves are 81.5% and 2.7%
respectively . This comes from the traditional notion that men are breadwinners. Therefore, the nursery shortage prevents mainly women from
returning to their jobs, leading further gender inequality.
Another perspective is the economic issue. The delay of women participation in labor force could be serious in the long run. Japan is an aging
society, and percentage of the population aged 65 and over is now 26.0%, and this ratio is expected to go up to 36.1% by 2040 . In order to achieve
further economic growth, McKinsey & Company points out that labor–force participation of female in the 25–44 age should go up to about 80 percent
by 2040, from 71 percent .
Summary:
The problem comes from the gap between the demand and supply for licensed nursery school,

National Rural Employment Guarantee Act
1
Introduction
The Mahatama Gandhi National Rural Employment Guarantee Act, (MGNREGA), was launched in September, 2005. This act has been considered as
one of the significant developments which could transform the rural economy and provide social security to the rural people. The Ministry of Rural
Development (MoRD) has defined MGNREGA as ""An Act to provide for the enhancement of livelihood security of the households in rural areas of
the country by providing at least one hundred days of guaranteed wage employment in every financial year to every household".
The main objectives of MNREGA as outlined by MoRD are: (a) To provide wage employment opportunities; (b) to create sustainable rural livelihoods
through regeneration of the natural ... Show more content on Helpwriting.net ...
Presently, the Act covers 626 districts of the country. Legislation of National Rural Employment Guarantee Act (NREGA) and efforts at its subsequent
implementation beginning the financial year 2006–07 mark a sharp departure from the past tradition, as the latter are designed around the basic concept
of a rights based approach to development (Datta et al, 2009). Prior to this, India was following the needs based approach. So there was a paradigm
shift in the approach to development with the launch of MGNREGA.
` MGNREGA is a right–based framework and it provides a legal guarantee to work. Any adult member of a household willing to do unskilled manual
work would be provided
2
employment with 15 days. If the person does not get employment, the state govt. is required to pay an unemployment allowance. The act does not
permit the use of contractors which were a major source of exploitation for the rural poor. With respect to labour intensive works, aratio of 60:40 is to
be maintained. The schedule 11 of the act gives a list of the permissible works under MGNREGA, most of which relate to water–conservation,
irrigation and flood–protection etc.
It is rather unfortunate that serious and rigorous studies on NREGS in India are very few in number (Datta et al, 2009). This paper examines the key
outcomes of MGNREGA with respect to employment and budgetary allocations. Section

Essay On Ivb
precision. On IVB, the ratio of performance between SP to
DP is around 2, which is consistent with the SIMD width ratio of these two precisions. For KNC, the SIMD widths in
SP and DP are 16 and 8 respectively, but a performance gap of
3 to 4 times in SP and DP is observed, which is well beyond the ratio of SIMD width. This is because the performance of where clauses for WS
/DMMPs schemes on KNC is sensitive to the SIMD width as described in the section of SW26010 optimization. The wider the SIMD vectorization is
supported, the better performance efficiency can be obtained.
Unlike IVB and KNC, SW26010 has the same SIMD width of 4 in both SP and DP and no auto–vectorization is supported by the compiler on this
platform so far. Thus, the ... Show more content on Helpwriting.net ...
It is observed that on IVB the averaged floating–point performance can reach to as high as 45% of the peak performance in both single and
doubleprecision.
Using KNC as a standalone many–core processor results in an averaged performance of 406.62 Gflops/s in single–precision, which is above 20% of the
theoretical peak.
But the averaged double–precision performance reduces dramatically to 111.63 Gflops/s, which is just over 10% of the peak performance. When
KNC is used as a coprocessor, which is a much more common case, the cost of data transfer between the main memory and the device memory should
be included.
And the results, shown as "KNC+offload" indicate that the performance drop due to the data transfer is substantial; only around 6% to 8% of the peak
performance is sustained in double and single–precision respectively. As a many–core processor, SW26010 does not need the data transfer between the
main memory and the device memory, and the performance is satisfactory as compared to the KNC in offload mode, especially in the single–precision
case.
VII. CONCLUSION
In this paper, we presented a software toolkit AutoWM for universal multi–/many–core accelerations of the WRF cloud microphysics schemes on
multiple parallel platforms. The basic idea of AutoWM is to modularize the conversion processes of WRF microphysics as building blocks and use the
platform–specific code segments to reconstruct well optimized microphysics codes. Being

Boston Beer Company Essay
Boston Beer Company– Case Analysis
You are the investment banker assigned with the task of setting the IPO price for Boston Beer Company (BBC). Prepare a research report to
support your recommendation. As you prepare this report, you may find that you would like to have more field information than what the case
offers you. However, the case contains critical information that gives you a reasonable basis to compute its valuation. In addition use the following
information for 1995.1 Sales ($ millions) Redhook Pete's BBC 25.89 59.17 151.31 EPS .75 .25 .40 Book value/share 7.70 4.33 3.00 Price 27.00 24.75 ?
Also, use the following information for BBC for 1996. Make additional assumptions as necessary (and state any additional assumptions) ... Show more
content on Helpwriting.net ...
Use the information here in your analysis.
1
2. Business description and a brief history of the company. Does the company have any unique strategic positioning within the industry? – One
paragraph 3. Present a qualitative assessment of the future outlook for the company. For example, are there any new products in the pipeline? Do you
anticipate any competitive threats? Based on these developments, do you expect BBC's growth and profitability to improve deteriorate, or stay about
the same as in the past? 4. Revenue Forecasts and Free cash flow forecasts for the next ten years– Specifically explain if you are forecasting revenue
and FCF growths and profit margins that are significantly different from the company's historical experience and why. 5. Present a DCF analysis
and determine BBC's intrinsic value. Assume that BBC's Enterprise Value/ NOPLAT will be 18 ten years from now (check for sensitivities by
assuming a multiple of either 15 or 20). 6. Present a valuation based on valuation ratios (P/B, P/E, P/S) for comparable firms. What price would you
recommend based on these valuation ratios? Based on your recommended price, is BBC's P/B ratio bigger or smaller than that of Redhook? Of Pete's?
Can you justify this difference? Do the same analysis for P/E and P/S ratios. (Note: Suppose a particular valuation ratio for one firm is 25 and you
recommend a corresponding valuation multiple of

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