HW 5.docx
Assignment 5 – Currency risk
You may do this assignment alone or with one other person. For each of your answers, be as specific as possible about all transactions and amounts involved.
All interest rates are stated as annual rates.
Part 1 Transaction risk
1 (10 points)
a. Select a foreign currency
b. Find the spot exchange rate for that currency
c. Select an amount between 150 million and 200 million
d. Select a number of months between 3 and 9
e. Select either payable or receivable. If you select payable, for the rest of the questions in this part of the assignment, assume a US firm is required to make a payment of the number selected in part c of the foreign currency from part a at the time selected in part d. If you select receivable, assume a US firm expects to receive a payment of the number of units selected in part c of the foreign currency from part a at the time selected in part d.
e. Describe the future payment (in $) from the above assumptions if the exchange rate remains the same as it is today.
2. (10 points) Explain how the firm can use leading or lagging to reduce the exchange rate risk created by this payment.
3. (20 points) Assume the US interest rate is 2% and the foreign interest rate is 5%, how can the firm hedge the transaction risk associated with the payment using a money market hedge?
4 (20 points)
a. How can the firm hedge the transaction risk associated with the payment using a forward market hedge?
b. If the forward price is 1% lower than the spot exchange rate (from 1b) and the actual exchange rate on the date the payment is due is 1% higher than the spot exchange rate, what will the dollar value of the amount the firm pays or receives on the due date be?
c. If the forward price is 2% higher than the spot exchange rate (from 1b) and the actual exchange rate on the date the payment is due is 1% higher than the spot exchange rate, what will the dollar value of the amount the firm pays or receives on the due date be?
5 (20 points)
a. How can the firm hedge the risk associated with the payment using a foreign currency option?
b. If the option’s strike price is equal to the spot exchange rate (from 1b) and the actual exchange rate on the payment is due is 2% lower than the spot market price, will the firm exercise the options and what will the dollar amount the firm pays or receives on the due date be?
c. If the option’s strike price is equal to the spot exchange rate (from 1b) and the actual exchange rate on the payment is due is 2% higher than the spot market price, will the firm exercise the options and what will the dollar amount the firm pays or receives on the due date be?
6. (10 points) How could the firm hedge the transaction risk associated with this payment by exposure netting or funds adjustment?
Part 2 Economic risk
1. (10 points) Obtain weekly stock prices for the last five years for a US company and a foreign company of your choice.
2. (10 points) Obtain exchange rates for three dif ...
FNCE 403v2 Assignment 3 Revised Nov. 7, 2012
Assignment 3 Details
Complete and submit Assignment 3, which is worth 15% of your final grade, after
you have finished Unit 6. If you have any questions about this assignment and how
to complete it, contact the Student Support Centre.
This assignment contains ten problems and is worth a total of 100 marks.
Read the requirements for each problem and plan your responses carefully. Ensure
that you answer each of the required questions as concisely and as completely as
possible and include supporting calculations where required.
1. (7 marks) You are a bright new analyst in the risk-management division at
RMS, a multinational technology company, and have recently been put in
charge of managing the Euro/CAD exchange-rate risk that RMS faces.
Consider RMS’s operations in Europe and Canada.
a. Suppose monthly revenues in Europe average 10 million Euros and
monthly production and distribution costs average 8 million Euro. If the
resulting profits are repatriated to the production unit in Canada monthly,
what risk does this production unit face? How might it hedge this risk?
(2 marks)
b. RMS’s worldwide retirement benefits unit is located in Canada and has the
obligation to pay its retired European employees 20 million Euros monthly.
What does this unit face and how could it hedge the risk? (2 marks)
c. Given the transactions of the production and retirement units as given
previously, what do you conclude are the exchange-rate risks faced by
RMS as a whole in Europe? Does RMS need to enter into forward
contracts? (3 marks)
2. (10 marks) Suppose the spot exchange rate between U.S. dollar and
Canadian dollar is US$1.03/C$. The U.S. dollar risk-free rate is 2% per
annum, compounded annually. The price of a two-year European call option
and put option with an exercise price of US$1.05/C$ is US$4.45 and
US$4.54, respectively. What is the Canadian dollar risk-free rate?
FNCE 403v2 Assignment 3 Revised Nov. 7, 2012
3. (10 marks) Two firms have the borrowing rates shown below.
Firm Fixed Rate Floating Rate
AAA 5 yr T-bond + 60 bp LIBOR
BBB 5 yr T-bond + 75 bp LIBOR + 30 bp
As the CFO of firm AAA, you always consider an interest rate swap before
borrowing money. Explain how, if at all, a swap with BBB would be
advantageous to you if
a. you wanted to borrow at a fixed rate. (7 marks)
b. you wanted to borrow at a floating rate. (3 marks)
4. (10 marks) A corporation enters into a $35 million notional principal plain
vanilla interest rate swap. The swap calls for the corporation to pay a fixed
rate and receive a floating rate of LIBOR. The payments will be made every
three months for one year. The term structure of LIBOR when the swap is
initiated is as follows:
Months Rate (%)
3 7.00
6 7.25
9 7.45
12 7.55
Assume all of rates are continuously compounded.
a. Determine the fixed rate on the s ...
FNCE 403v2 Assignment 3 Revised Nov. 7, 2012
Assignment 3 Details
Complete and submit Assignment 3, which is worth 15% of your final grade, after
you have finished Unit 6. If you have any questions about this assignment and how
to complete it, contact the Student Support Centre.
This assignment contains ten problems and is worth a total of 100 marks.
Read the requirements for each problem and plan your responses carefully. Ensure
that you answer each of the required questions as concisely and as completely as
possible and include supporting calculations where required.
1. (7 marks) You are a bright new analyst in the risk-management division at
RMS, a multinational technology company, and have recently been put in
charge of managing the Euro/CAD exchange-rate risk that RMS faces.
Consider RMS’s operations in Europe and Canada.
a. Suppose monthly revenues in Europe average 10 million Euros and
monthly production and distribution costs average 8 million Euro. If the
resulting profits are repatriated to the production unit in Canada monthly,
what risk does this production unit face? How might it hedge this risk?
(2 marks)
b. RMS’s worldwide retirement benefits unit is located in Canada and has the
obligation to pay its retired European employees 20 million Euros monthly.
What does this unit face and how could it hedge the risk? (2 marks)
c. Given the transactions of the production and retirement units as given
previously, what do you conclude are the exchange-rate risks faced by
RMS as a whole in Europe? Does RMS need to enter into forward
contracts? (3 marks)
2. (10 marks) Suppose the spot exchange rate between U.S. dollar and
Canadian dollar is US$1.03/C$. The U.S. dollar risk-free rate is 2% per
annum, compounded annually. The price of a two-year European call option
and put option with an exercise price of US$1.05/C$ is US$4.45 and
US$4.54, respectively. What is the Canadian dollar risk-free rate?
FNCE 403v2 Assignment 3 Revised Nov. 7, 2012
3. (10 marks) Two firms have the borrowing rates shown below.
Firm Fixed Rate Floating Rate
AAA 5 yr T-bond + 60 bp LIBOR
BBB 5 yr T-bond + 75 bp LIBOR + 30 bp
As the CFO of firm AAA, you always consider an interest rate swap before
borrowing money. Explain how, if at all, a swap with BBB would be
advantageous to you if
a. you wanted to borrow at a fixed rate. (7 marks)
b. you wanted to borrow at a floating rate. (3 marks)
4. (10 marks) A corporation enters into a $35 million notional principal plain
vanilla interest rate swap. The swap calls for the corporation to pay a fixed
rate and receive a floating rate of LIBOR. The payments will be made every
three months for one year. The term structure of LIBOR when the swap is
initiated is as follows:
Months Rate (%)
3 7.00
6 7.25
9 7.45
12 7.55
Assume all of rates are continuously compounded.
a. Determine the fixed rate on the s ...
principle of accounting lecture 1 .pdf how
and the allowance for doubtful account & depreciation and impairment
1. Accounts receivable are amounts owed by customers on account. Companies generally expect to collect these receivables within 30 to 60 days.
1 Economics 211 Due Thursday, March 5, 2020 Spring.docxadkinspaige22
1
Economics 211 Due Thursday, March 5, 2020
Spring Semester Professor John Duca
Homework #2 (NOTE: Assignments to be handwritten except for approved disabilities or
approved circumstances. Assignments are to be turned in by the BEGINNING of class
on the due date or into my mailbox in the Economics Department (223 Rice Hall) by the
beginning of class on the due date. WHERE YOU CAN, SHOW THE FORMULAS
THAT YOU ARE USING AND ANY RELEVANT CALCULATIONS.
1) Using the more complicated 2-axis, supply and demand framework for bonds
presented in class (bond prices on the left y-axis, and INVERTED interest rates on
the right y-axis), illustrate an initial equilibrium and then show which curve will
likely shift (or curves shift) (if any) in response to the following changes in market
conditions. In each case, state what happens to the bond price and what happens to
the interest rate (up, down, or unchanged) (20 points). Use separate diagrams for (a)
and for (b).
a) There is a fall in expected inflation.
b) There is a business cycle expansion in a non-U.S. economy.
2) Using the supply and demand framework for money presented in chapter 5 of the
Mishkin text, illustrate what happens to the equilibrium quantity of money held and
interest rates if the following events occurred. In each case, assume that there are no
income, price level, or expected inflation effects—that is only consider the initial
liquidity effects: (10 points)
a) The risk of currency fraud rises so that currency has become less accepted
as a means of payment by many firms or entail much longer delays to
verify that the currency is not counterfeit. Illustrate what happens to the
demand for money. Illustrate what happens if, in response, the Federal
Reserve alters the supply of money so that bond prices (and thus interest
rates) are unchanged.
b) There is a large change in expectations such that people see stocks as a
much more attractive investment. As a result, people shift toward stocks
and away from money market mutual funds and savings deposits.
Illustrate what happens if, in response, the Federal Reserve alters the
supply of broadly defined money (that is, M2) so that bond prices (and
thus interest rates) are unchanged.
2
3) Suppose a central bank wants to stimulate the economy by lowering interest rates
through expanding the money supply under the following conditions. Illustrate how
interest rates change over time using the appropriate framework from the appropriate
section of Mishkin’s textbook (this was covered in class). Clearly indicate when the
monetary action occurs, and label which type or types of effects on interest rates are
occurring at different times. (15 points)USE SEPARATE DIAGRAMS for 3a & 3b
a) Suppose that you are in a country that has a great reputation for stabilizing long-
run inflation. Suppose that in response to slowing aggregate demand, the central
bank.
TRUEFALSE. Write T if the statement is true and F if the stat.docxwillcoxjanay
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.
(Worth .25 points each or 2.5 points for this section)
1) For a given positive interest rate, the future value of $100 increases with the passage of time. Thus,
the longer the period of time, the greater the future value.
2) Future value is the value of a future amount at the present time, found by applying compound
interest over a specified period of time.
3) The aggressive financing strategy is a strategy by which the firm finances its current assets with
short-term funds and its fixed assets with long-term funds.
4) Combining negatively correlated assets can reduce the overall variability of returns.
5) A portfolio that combines two assets having perfectly positively correlated returns cannot reduce
the portfolio's overall risk below the risk of the least risky asset.
6) In general, exchange rate risk is easier to protect against than political risk.
7) In selecting the best group of unequal-lived projects, if the projects are mutually exclusive, the
length of the projects lives is not critical.
8) The EBIT-EPS analysis tends to concentrate on maximization of earnings rather than maximization
of owners' wealth.
9) The three basic types of risk associated with international cash flows are 1) business and financial
risks, 2) inflation and foreign exchange risks, and 3) political risks.
10) Accounts payable result from transactions in which merchandise is purchased but no formal note is
signed to show the purchaser's liability to the seller.
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
(Worth .50 points each or 9.5 points for this section)
11) When the amount earned on a deposit has become part of the principal at the end of a specified
time period the concept is called
A) future value. B) discount interest.
C) compound interest. D) primary interest.
12) The future value of $100 received today and deposited at 6 percent for four years is
A) $126. B) $124. C) $ 79. D) $116.
13) As the interest rate increases for any given period, the future value interest factor will
A) decrease. B) increase.
C) move toward 1. D) remain unchanged.
14) The present value of $100 to be received 20 years from today, assuming an opportunity cost of 8
percent, is
A) $ 42.24. B) $ 75. C) $23.60. D) $21.45.
15) The ________ financing strategy requires the firm to pay interest on excess funds borrowed but not
needed throughout the entire year.
A) seasonal B) conservative C) permanent D) aggressive
16) Strikes, lawsuits, regulatory actions, and increased competition are all examples of
A) nondiversifiable risk. B) economic risk.
C) systematic. D) diversifiable risk.
Table 5.2
You are going to invest $20,000 in a portfolio consisting of assets X, Y, and Z, as follows:
Asset Name
Annual
Asset Return
Probability
Beta
Proportion
X
10%
.50
1.2
.333
Y
8%
.25
1.6
.333
Z
16%
.25
2.0
.333
17) Given the information i ...
Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, which is simply meant dealing with management of money matters.
Financial Management is efficient use of economic resources namely capital funds. Financial management is concerned with the managerial decisions that result in the acquisition and financing of short term and long term credits for the firm. Here it deals with the situations that require selection of specific assets, or a combination of assets and the selection of specific problem of size and growth of an enterprise. Herein the analysis deals with the expected inflows and outflows of funds and their effect on managerial objectives. In short, Financial Management deals with Procurement of funds and their effective utilization in the business.Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, which is simply meant dealing with management of money matters.
Financial Management is efficient use of economic resources namely capital funds. Financial management is concerned with the managerial decisions that result in the acquisition and financing of short term and long term credits for the firm. Here it deals with the situations that require selection of specific assets, or a combination of assets and the selection of specific problem of size and growth of an enterprise. Herein the analysis deals with the expected inflows and outflows of funds and their effect on managerial objectives. In short, Financial Management deals with Procurement of funds and their effective utilization in the business.
Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, which is simply meant dealing with management of money matters.
Financial Management is efficient use of economic resources namely capital funds. Financial management is concerned with the managerial decisions that result in the acquisition and financing of short term and long term credits for the firm. Here it deals with the situations that require selection of specific assets, or a combination of assets and the selection of specific problem of size and growth of an enterprise. Herein the analysis deals with the expected inflows and outflows of funds and their effect on managerial objectives. In short, Financial Management deals with Procurement of funds and their effective utilization in the business.
Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, Management of fund
Which of the following conclusions would be true if you earn a highe.docxcooperapleh
Which of the following conclusions would be true if you earn a higher rate of return on
your investments?
a. The greater the present value would be for any lump sum you would receive in the
future.
b. The lower the present value would be for any lump sum you would receive in the
future.
c. Your rate of return would not have any effect on the present value of any sum to be
received in the future.
d. The greater the present value would be for any annuity you would receive in the
future.
2) At what rate must $500 be compounded annually for it to grow to $1,079.46 in 10
years?
a. 6 percent
b. 7 percent
c. 8 percent
d. 5 percent
3) What is the present value of $12,500 to be received 10 years from today? Assume a
discount rate of 8% compounded annually and round to the nearest $10.
a. $17,010
b. $9,210
c. $11,574
d. $5,790
4) The appropriate measure for risk according to the capital asset pricing model is:
a. the standard deviation of a firm’s cash flows
b. alpha
c. the standard deviation of a firm’s stock returns
d. beta
5) How much money must you pay into an account at the end of each of 20 years in
order to have $100,000 at the end of the 20th year? Assume that the account pays
6% per year, and round to the nearest $1.
a. $2,195
b. $1,840
c. $2,028
d. $2,718
Unit 2 Examination
98
Introduction to Financial Management
6) You have the choice of two equally risk annuities, each paying $5,000 per year for
8 years. One is an annuity due and the other is an ordinary annuity. If you are going
to be receiving the annuity payments, which annuity would you choose to maximize
your wealth?
a. The annuity due
b. Either one because they have the same present value.
c. The ordinary annuity
d. Since we don’t know the interest rate, we can’t find the value of the annuities and
hence we cannot tell which one is better.
7) If you put $1,000 in a savings account that yields 8% compounded semi-annually,
how much money will you have in the account in 20 years (round to nearest $10)?
a. $4,660
b. $4,801
c. $2,190
d. $1,480
8) You want $20,000 in 5 years to take your spouse on a second honeymoon. Your
investment account earns 7% compounded semiannually. How much money must you
put in the investment account today? (round to the nearest $1)
a. $14,178
b. $15,985
c. $13,349
d. $12,367
9) You invest $1,000 at a variable rate of interest. Initially the rate is 4% compounded
annually for the first year, and the rate increases one-half of one percent annually for
five years (year two’s rate is 4.5%, year three’s rate is 5.0%, etc.). How much will you
have in the account after five years?
a. $1,462
b. $1,359
c. $1,276
d. $1,338
10) Assume that you have $165,000 invested in a stock that is returning 11.50%,
$85,000 invested in a stock that is returning 22.75%, and $235,000 invested in a
stock that is returning 10.25%. What is the expected return of your portfolio?
a. 14.8%
b. 12.9%
c. 18.3%
d. 15.6%
Unit 2 Examination
99
Intro.
1. Nicks Enchiladas Incorporated has preferred stock outstand.docxjackiewalcutt
1. Nick's Enchiladas Incorporated has preferred stock outstanding that pays a dividend of $5 at
the end of each year. The preferred stock sells for $35 a share. What is the stock's required rate of
return? Round the answer to two decimal places.
%
2. A stock is expected to pay a year-end dividend of $2.00, i.e., D1 = $2.00. The dividend is
expected to decline at a rate of 5% a year forever (g = −5%). If the company is in equilibrium and
its expected and required rate of return is 15%, which of the following statements is CORRECT?
a. The company's dividend yield 5 years from now is expected to be 10%.
b. The company's current stock price is $20.
c. The company's expected capital gains yield is 5%.
d. The constant growth model cannot be used because the growth rate is negative.
e. The company's expected stock price at the beginning of next year is $9.50.
3. The expected return on Natter Corporation's stock is 14%. The stock's dividend is expected to
grow at a constant rate of 8%, and it currently sells for $50 a share. Which of the following
statements is CORRECT?
a. The stock's dividend yield is 7%.
b. The current dividend per share is $4.00.
c. The stock's dividend yield is 8%.
d. The stock price is expected to be $54 a share one year from now.
e. The stock price is expected to be $57 a share one year from now.
4. Investors require a 16% rate of return on Brooks Sisters' stock (rs = 16%).
a. What would the value of Brooks's stock be if the previous dividend was D0 = $2.75 and if
investors expect dividends to grow at a constant compound annual rate of (1) - 4%, (2)
0%, (3) 7%, or (4) 10%? Round your answers to the nearest cent.
1. $
2. $
3. $
4. $
b. Using data from part a, what is the Gordon (constant growth) model's value for Brooks
Sisters's stock if the required rate of return is 16% and the expected growth rate is (1)
16% or (2) 24%? Are these reasonable results? Explain.
1. (Yes or No)
2. (Yes or No)
c. Is it reasonable to expect that a constant growth stock would have g > rs? ( Yes or No)
5. Brushy Mountain Mining Company's ore reserves are being depleted, so its sales are falling.
Also, its pit is getting deeper each year, so its costs are rising. As a result, the company's earnings
and dividends are declining at the constant rate of 6% per year. If D0 = $3 and rs = 13%, what is
the value of Brushy Mountain Mining's stock? Round your answer to the nearest cent.
$
6. Boehm Incorporated is expected to pay a $3.70 per share dividend at the end of this year (i.e.,
D1 = $3.70). The dividend is expected to grow at a constant rate of 10% a year. The required rate
of return on the stock, rs, is 18%. What is the value per share of the company's stock? Round your
answer to the nearest cent.
$
7. A company currently pays a dividend of $1.5 per share, D0 = 1.5. It is estimated that the
comp ...
1 Hedging with Futures (13p) (a) Table 1 shows historica.docxmercysuttle
1 Hedging with Futures (13p)
(a) Table 1 shows historical futures prices for crude oil traded on the NYMEX for the
firstWednesday of each month in 2015. Prices are given for different contract
maturities ranging from January 2015 to December 2015.1 Prices are quoted in USD
per barrel and each contract is for 1000 barrels. Give an intuitive explanation of
varying price patterns in the table. (Hint: Given the current dynamics of crude oil
prices, what are your expectations about the size of the convenience yield and teh
storage costs? On which months is the term structure of futures prices in contango or
backwardation? Is this consistent with your initial expectation of the convenience
yield?)
(b) Suppose that crude oil is currently priced at $37 per barrel and that the crude oil
futuresprice with 4-month delivery is $38.88 per barrel. Assuming a continuously
compounded interest rate of 4.5% and a convenience yield of 5.5%, what are the
current implied annualized storage costs?
(c) Assume, as an exporter of crude oil, that you would like to lock in the price for alarge
quantity of crude oil which you will produce 18 months from now. You discover
Date Delivery Month
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
07-Jan-15 *48.77 48.65 49.08 49.72 50.48 51.23 51.95 52.61 53.25 53.87 54.51 55.15
04-Feb-15 *48.70 48.45 49.30 50.58 51.89 53.18 54.38 55.40 56.25 57.03 57.78
04-Mar-15 *51.60 51.53 53.23 54.55 55.74 56.83 57.76 58.46 59.07 59.64
01-Apr-15 *49.55 50.09 51.75 53.06 53.98 54.74 55.44 56.11 56.74
06-May-15 *60.7 60.93 62.00 62.56 62.93 63.28 63.66 64.01
03-Jun-15 *59.61 59.64 59.93 60.14 60.31 60.59 60.93
01-Jul-15 *56.87 56.96 57.37 57.70 58.12 58.55
05-Aug-15 *45.11 45.15 45.55 46.18 46.84
02-Sep-15 *45.11 46.25 46.86 47.52
07-Oct-15 *48.13 47.81 48.40
04-Nov-15 *46.58 46.32
1 Thus, a column corresponds to one contract with prices given on different dates. A row corresponds to
prices given on a particular date for different contract maturities.
2
02-Dec-15 *40.10
Table 1: NYMEX Futures prices for crude oil for the first Wednesday of each month in 2015.
A * implies the spot price in the corresponding month. Source: Futures data from U.S.
Energy Information Administration
that the NYMEX futures crude oil contract for a 18-month delivery currently trades at
$45.81 per barrel. Using the same assumptions and calculations made in (b), is there
anything you would propose to do in this situation?
(d) On Feb 6, 2015, as an airline company, you are concerned about a possible decreasein
supply of oil over the next 6 months (i.e., August) due to tensions in the Middle East.
Explain how you can use futures contracts to hedge your exposure to oil price risk.
Assume the company would like to enter a position that is worth USD $3,500,000. How
many contract ...
HW in teams of 3 studentsAn oil remanufacturing company uses c.docxwellesleyterresa
HW in teams of 3 students
An oil remanufacturing company uses clay in its manufacturing process. This clay comes into the plant in 80-pound bags stacked 40 per pallet and 50 pallets per boxcar. The railroad spur comes into the plant property but your plant does not have a rail car siding. Two car loads per year are used. The union and the company agreed that the part time workers would be hired for one week, twice a year at the rate of $7.5 per hour to unload these cars. You feel that this is a bad job and no one should have to work this hard. You look into this project
1
Why is this done?
We need the clay, and the railroad is by far the cheapest way to transport it
What: 80pounds bags of clay=160,000 pound boxcar load
Where: from the boxcar in our yard to the storeroom, 300ft away
Who: 2 temporary workers
When: one week, twice a year
How: Present method: manually unload the pallets off the boxcar then move these pallets into the storeroom with the fork truck we already own
2
How much could you spend improving this job?
We spend a week, twice a year with 2 temporary workers at $7.5
4 weeks* 40 hours per week*7.5per hour = $1,200
3
Questions:
Should the current method stays the same?
Are there other alternatives?
Is the current method the cheapest in the long run?
How would you justify an expenditure over $3,000
What do you think about cumulative trauma disorders and work-related injuries?
4
Write a report with the answers to your questions.
Include figures, tables, and other sources of information to help justify the project and also answer the questions. You can certainly use the textbook to help you.
Include in your report a list of references and of course cite all your sources of information.
This work MUST be done in teams of 3 people or 2. No individual assignment will be accepted.
5
Psychotherapy Interventions II
Case Conceptualization Exemplar
Case Conceptualization Exemplar (cont.)
Student Name:
Case Name/#: Case Study Exemplar: Linda
1. Problem identification and definition: [1–2 paragraphs]
[Primary and contributing concerns for the client]
· Client concerns: Cognitive abilities
· Client concerns: Feeling “anxious,” associated with being accepted by others
· Clinical concerns: Interpersonal isolation
· Clinical concerns: Self-devaluation, adequacy
· Clinical concerns: Depressive symptoms
2. Contextual considerations: [1–2 paragraphs]
[What ethical, legal, cultural, or other key considerations need to be considered with this client when creating a treatment plan?]
· Given no family, friends, or beliefs were identified as a support base, it would seem there are no resources on which Linda might rely.
· Given her sustained employment, attempts at effecting change, and self-referral, it seems as Linda may have the capacity for insight, ability to sustain, and motivation for change.
3. Diagnosis
Axis I: [Be sure to provide full title and code]
300.04
Dysthymic Disorder
Axis II:
V71.0 ...
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on the due date or into my mailbox in the Economics Department (223 Rice Hall) by the
beginning of class on the due date. WHERE YOU CAN, SHOW THE FORMULAS
THAT YOU ARE USING AND ANY RELEVANT CALCULATIONS.
1) Using the more complicated 2-axis, supply and demand framework for bonds
presented in class (bond prices on the left y-axis, and INVERTED interest rates on
the right y-axis), illustrate an initial equilibrium and then show which curve will
likely shift (or curves shift) (if any) in response to the following changes in market
conditions. In each case, state what happens to the bond price and what happens to
the interest rate (up, down, or unchanged) (20 points). Use separate diagrams for (a)
and for (b).
a) There is a fall in expected inflation.
b) There is a business cycle expansion in a non-U.S. economy.
2) Using the supply and demand framework for money presented in chapter 5 of the
Mishkin text, illustrate what happens to the equilibrium quantity of money held and
interest rates if the following events occurred. In each case, assume that there are no
income, price level, or expected inflation effects—that is only consider the initial
liquidity effects: (10 points)
a) The risk of currency fraud rises so that currency has become less accepted
as a means of payment by many firms or entail much longer delays to
verify that the currency is not counterfeit. Illustrate what happens to the
demand for money. Illustrate what happens if, in response, the Federal
Reserve alters the supply of money so that bond prices (and thus interest
rates) are unchanged.
b) There is a large change in expectations such that people see stocks as a
much more attractive investment. As a result, people shift toward stocks
and away from money market mutual funds and savings deposits.
Illustrate what happens if, in response, the Federal Reserve alters the
supply of broadly defined money (that is, M2) so that bond prices (and
thus interest rates) are unchanged.
2
3) Suppose a central bank wants to stimulate the economy by lowering interest rates
through expanding the money supply under the following conditions. Illustrate how
interest rates change over time using the appropriate framework from the appropriate
section of Mishkin’s textbook (this was covered in class). Clearly indicate when the
monetary action occurs, and label which type or types of effects on interest rates are
occurring at different times. (15 points)USE SEPARATE DIAGRAMS for 3a & 3b
a) Suppose that you are in a country that has a great reputation for stabilizing long-
run inflation. Suppose that in response to slowing aggregate demand, the central
bank.
TRUEFALSE. Write T if the statement is true and F if the stat.docxwillcoxjanay
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.
(Worth .25 points each or 2.5 points for this section)
1) For a given positive interest rate, the future value of $100 increases with the passage of time. Thus,
the longer the period of time, the greater the future value.
2) Future value is the value of a future amount at the present time, found by applying compound
interest over a specified period of time.
3) The aggressive financing strategy is a strategy by which the firm finances its current assets with
short-term funds and its fixed assets with long-term funds.
4) Combining negatively correlated assets can reduce the overall variability of returns.
5) A portfolio that combines two assets having perfectly positively correlated returns cannot reduce
the portfolio's overall risk below the risk of the least risky asset.
6) In general, exchange rate risk is easier to protect against than political risk.
7) In selecting the best group of unequal-lived projects, if the projects are mutually exclusive, the
length of the projects lives is not critical.
8) The EBIT-EPS analysis tends to concentrate on maximization of earnings rather than maximization
of owners' wealth.
9) The three basic types of risk associated with international cash flows are 1) business and financial
risks, 2) inflation and foreign exchange risks, and 3) political risks.
10) Accounts payable result from transactions in which merchandise is purchased but no formal note is
signed to show the purchaser's liability to the seller.
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
(Worth .50 points each or 9.5 points for this section)
11) When the amount earned on a deposit has become part of the principal at the end of a specified
time period the concept is called
A) future value. B) discount interest.
C) compound interest. D) primary interest.
12) The future value of $100 received today and deposited at 6 percent for four years is
A) $126. B) $124. C) $ 79. D) $116.
13) As the interest rate increases for any given period, the future value interest factor will
A) decrease. B) increase.
C) move toward 1. D) remain unchanged.
14) The present value of $100 to be received 20 years from today, assuming an opportunity cost of 8
percent, is
A) $ 42.24. B) $ 75. C) $23.60. D) $21.45.
15) The ________ financing strategy requires the firm to pay interest on excess funds borrowed but not
needed throughout the entire year.
A) seasonal B) conservative C) permanent D) aggressive
16) Strikes, lawsuits, regulatory actions, and increased competition are all examples of
A) nondiversifiable risk. B) economic risk.
C) systematic. D) diversifiable risk.
Table 5.2
You are going to invest $20,000 in a portfolio consisting of assets X, Y, and Z, as follows:
Asset Name
Annual
Asset Return
Probability
Beta
Proportion
X
10%
.50
1.2
.333
Y
8%
.25
1.6
.333
Z
16%
.25
2.0
.333
17) Given the information i ...
Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, which is simply meant dealing with management of money matters.
Financial Management is efficient use of economic resources namely capital funds. Financial management is concerned with the managerial decisions that result in the acquisition and financing of short term and long term credits for the firm. Here it deals with the situations that require selection of specific assets, or a combination of assets and the selection of specific problem of size and growth of an enterprise. Herein the analysis deals with the expected inflows and outflows of funds and their effect on managerial objectives. In short, Financial Management deals with Procurement of funds and their effective utilization in the business.Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, which is simply meant dealing with management of money matters.
Financial Management is efficient use of economic resources namely capital funds. Financial management is concerned with the managerial decisions that result in the acquisition and financing of short term and long term credits for the firm. Here it deals with the situations that require selection of specific assets, or a combination of assets and the selection of specific problem of size and growth of an enterprise. Herein the analysis deals with the expected inflows and outflows of funds and their effect on managerial objectives. In short, Financial Management deals with Procurement of funds and their effective utilization in the business.
Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, which is simply meant dealing with management of money matters.
Financial Management is efficient use of economic resources namely capital funds. Financial management is concerned with the managerial decisions that result in the acquisition and financing of short term and long term credits for the firm. Here it deals with the situations that require selection of specific assets, or a combination of assets and the selection of specific problem of size and growth of an enterprise. Herein the analysis deals with the expected inflows and outflows of funds and their effect on managerial objectives. In short, Financial Management deals with Procurement of funds and their effective utilization in the business.
Management of funds is a critical aspect of financial management. Management of funds acts as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, Management of fund
Which of the following conclusions would be true if you earn a highe.docxcooperapleh
Which of the following conclusions would be true if you earn a higher rate of return on
your investments?
a. The greater the present value would be for any lump sum you would receive in the
future.
b. The lower the present value would be for any lump sum you would receive in the
future.
c. Your rate of return would not have any effect on the present value of any sum to be
received in the future.
d. The greater the present value would be for any annuity you would receive in the
future.
2) At what rate must $500 be compounded annually for it to grow to $1,079.46 in 10
years?
a. 6 percent
b. 7 percent
c. 8 percent
d. 5 percent
3) What is the present value of $12,500 to be received 10 years from today? Assume a
discount rate of 8% compounded annually and round to the nearest $10.
a. $17,010
b. $9,210
c. $11,574
d. $5,790
4) The appropriate measure for risk according to the capital asset pricing model is:
a. the standard deviation of a firm’s cash flows
b. alpha
c. the standard deviation of a firm’s stock returns
d. beta
5) How much money must you pay into an account at the end of each of 20 years in
order to have $100,000 at the end of the 20th year? Assume that the account pays
6% per year, and round to the nearest $1.
a. $2,195
b. $1,840
c. $2,028
d. $2,718
Unit 2 Examination
98
Introduction to Financial Management
6) You have the choice of two equally risk annuities, each paying $5,000 per year for
8 years. One is an annuity due and the other is an ordinary annuity. If you are going
to be receiving the annuity payments, which annuity would you choose to maximize
your wealth?
a. The annuity due
b. Either one because they have the same present value.
c. The ordinary annuity
d. Since we don’t know the interest rate, we can’t find the value of the annuities and
hence we cannot tell which one is better.
7) If you put $1,000 in a savings account that yields 8% compounded semi-annually,
how much money will you have in the account in 20 years (round to nearest $10)?
a. $4,660
b. $4,801
c. $2,190
d. $1,480
8) You want $20,000 in 5 years to take your spouse on a second honeymoon. Your
investment account earns 7% compounded semiannually. How much money must you
put in the investment account today? (round to the nearest $1)
a. $14,178
b. $15,985
c. $13,349
d. $12,367
9) You invest $1,000 at a variable rate of interest. Initially the rate is 4% compounded
annually for the first year, and the rate increases one-half of one percent annually for
five years (year two’s rate is 4.5%, year three’s rate is 5.0%, etc.). How much will you
have in the account after five years?
a. $1,462
b. $1,359
c. $1,276
d. $1,338
10) Assume that you have $165,000 invested in a stock that is returning 11.50%,
$85,000 invested in a stock that is returning 22.75%, and $235,000 invested in a
stock that is returning 10.25%. What is the expected return of your portfolio?
a. 14.8%
b. 12.9%
c. 18.3%
d. 15.6%
Unit 2 Examination
99
Intro.
1. Nicks Enchiladas Incorporated has preferred stock outstand.docxjackiewalcutt
1. Nick's Enchiladas Incorporated has preferred stock outstanding that pays a dividend of $5 at
the end of each year. The preferred stock sells for $35 a share. What is the stock's required rate of
return? Round the answer to two decimal places.
%
2. A stock is expected to pay a year-end dividend of $2.00, i.e., D1 = $2.00. The dividend is
expected to decline at a rate of 5% a year forever (g = −5%). If the company is in equilibrium and
its expected and required rate of return is 15%, which of the following statements is CORRECT?
a. The company's dividend yield 5 years from now is expected to be 10%.
b. The company's current stock price is $20.
c. The company's expected capital gains yield is 5%.
d. The constant growth model cannot be used because the growth rate is negative.
e. The company's expected stock price at the beginning of next year is $9.50.
3. The expected return on Natter Corporation's stock is 14%. The stock's dividend is expected to
grow at a constant rate of 8%, and it currently sells for $50 a share. Which of the following
statements is CORRECT?
a. The stock's dividend yield is 7%.
b. The current dividend per share is $4.00.
c. The stock's dividend yield is 8%.
d. The stock price is expected to be $54 a share one year from now.
e. The stock price is expected to be $57 a share one year from now.
4. Investors require a 16% rate of return on Brooks Sisters' stock (rs = 16%).
a. What would the value of Brooks's stock be if the previous dividend was D0 = $2.75 and if
investors expect dividends to grow at a constant compound annual rate of (1) - 4%, (2)
0%, (3) 7%, or (4) 10%? Round your answers to the nearest cent.
1. $
2. $
3. $
4. $
b. Using data from part a, what is the Gordon (constant growth) model's value for Brooks
Sisters's stock if the required rate of return is 16% and the expected growth rate is (1)
16% or (2) 24%? Are these reasonable results? Explain.
1. (Yes or No)
2. (Yes or No)
c. Is it reasonable to expect that a constant growth stock would have g > rs? ( Yes or No)
5. Brushy Mountain Mining Company's ore reserves are being depleted, so its sales are falling.
Also, its pit is getting deeper each year, so its costs are rising. As a result, the company's earnings
and dividends are declining at the constant rate of 6% per year. If D0 = $3 and rs = 13%, what is
the value of Brushy Mountain Mining's stock? Round your answer to the nearest cent.
$
6. Boehm Incorporated is expected to pay a $3.70 per share dividend at the end of this year (i.e.,
D1 = $3.70). The dividend is expected to grow at a constant rate of 10% a year. The required rate
of return on the stock, rs, is 18%. What is the value per share of the company's stock? Round your
answer to the nearest cent.
$
7. A company currently pays a dividend of $1.5 per share, D0 = 1.5. It is estimated that the
comp ...
1 Hedging with Futures (13p) (a) Table 1 shows historica.docxmercysuttle
1 Hedging with Futures (13p)
(a) Table 1 shows historical futures prices for crude oil traded on the NYMEX for the
firstWednesday of each month in 2015. Prices are given for different contract
maturities ranging from January 2015 to December 2015.1 Prices are quoted in USD
per barrel and each contract is for 1000 barrels. Give an intuitive explanation of
varying price patterns in the table. (Hint: Given the current dynamics of crude oil
prices, what are your expectations about the size of the convenience yield and teh
storage costs? On which months is the term structure of futures prices in contango or
backwardation? Is this consistent with your initial expectation of the convenience
yield?)
(b) Suppose that crude oil is currently priced at $37 per barrel and that the crude oil
futuresprice with 4-month delivery is $38.88 per barrel. Assuming a continuously
compounded interest rate of 4.5% and a convenience yield of 5.5%, what are the
current implied annualized storage costs?
(c) Assume, as an exporter of crude oil, that you would like to lock in the price for alarge
quantity of crude oil which you will produce 18 months from now. You discover
Date Delivery Month
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
07-Jan-15 *48.77 48.65 49.08 49.72 50.48 51.23 51.95 52.61 53.25 53.87 54.51 55.15
04-Feb-15 *48.70 48.45 49.30 50.58 51.89 53.18 54.38 55.40 56.25 57.03 57.78
04-Mar-15 *51.60 51.53 53.23 54.55 55.74 56.83 57.76 58.46 59.07 59.64
01-Apr-15 *49.55 50.09 51.75 53.06 53.98 54.74 55.44 56.11 56.74
06-May-15 *60.7 60.93 62.00 62.56 62.93 63.28 63.66 64.01
03-Jun-15 *59.61 59.64 59.93 60.14 60.31 60.59 60.93
01-Jul-15 *56.87 56.96 57.37 57.70 58.12 58.55
05-Aug-15 *45.11 45.15 45.55 46.18 46.84
02-Sep-15 *45.11 46.25 46.86 47.52
07-Oct-15 *48.13 47.81 48.40
04-Nov-15 *46.58 46.32
1 Thus, a column corresponds to one contract with prices given on different dates. A row corresponds to
prices given on a particular date for different contract maturities.
2
02-Dec-15 *40.10
Table 1: NYMEX Futures prices for crude oil for the first Wednesday of each month in 2015.
A * implies the spot price in the corresponding month. Source: Futures data from U.S.
Energy Information Administration
that the NYMEX futures crude oil contract for a 18-month delivery currently trades at
$45.81 per barrel. Using the same assumptions and calculations made in (b), is there
anything you would propose to do in this situation?
(d) On Feb 6, 2015, as an airline company, you are concerned about a possible decreasein
supply of oil over the next 6 months (i.e., August) due to tensions in the Middle East.
Explain how you can use futures contracts to hedge your exposure to oil price risk.
Assume the company would like to enter a position that is worth USD $3,500,000. How
many contract ...
Similar to HW 5.docxAssignment 5 – Currency riskYou may do this assig.docx (20)
HW in teams of 3 studentsAn oil remanufacturing company uses c.docxwellesleyterresa
HW in teams of 3 students
An oil remanufacturing company uses clay in its manufacturing process. This clay comes into the plant in 80-pound bags stacked 40 per pallet and 50 pallets per boxcar. The railroad spur comes into the plant property but your plant does not have a rail car siding. Two car loads per year are used. The union and the company agreed that the part time workers would be hired for one week, twice a year at the rate of $7.5 per hour to unload these cars. You feel that this is a bad job and no one should have to work this hard. You look into this project
1
Why is this done?
We need the clay, and the railroad is by far the cheapest way to transport it
What: 80pounds bags of clay=160,000 pound boxcar load
Where: from the boxcar in our yard to the storeroom, 300ft away
Who: 2 temporary workers
When: one week, twice a year
How: Present method: manually unload the pallets off the boxcar then move these pallets into the storeroom with the fork truck we already own
2
How much could you spend improving this job?
We spend a week, twice a year with 2 temporary workers at $7.5
4 weeks* 40 hours per week*7.5per hour = $1,200
3
Questions:
Should the current method stays the same?
Are there other alternatives?
Is the current method the cheapest in the long run?
How would you justify an expenditure over $3,000
What do you think about cumulative trauma disorders and work-related injuries?
4
Write a report with the answers to your questions.
Include figures, tables, and other sources of information to help justify the project and also answer the questions. You can certainly use the textbook to help you.
Include in your report a list of references and of course cite all your sources of information.
This work MUST be done in teams of 3 people or 2. No individual assignment will be accepted.
5
Psychotherapy Interventions II
Case Conceptualization Exemplar
Case Conceptualization Exemplar (cont.)
Student Name:
Case Name/#: Case Study Exemplar: Linda
1. Problem identification and definition: [1–2 paragraphs]
[Primary and contributing concerns for the client]
· Client concerns: Cognitive abilities
· Client concerns: Feeling “anxious,” associated with being accepted by others
· Clinical concerns: Interpersonal isolation
· Clinical concerns: Self-devaluation, adequacy
· Clinical concerns: Depressive symptoms
2. Contextual considerations: [1–2 paragraphs]
[What ethical, legal, cultural, or other key considerations need to be considered with this client when creating a treatment plan?]
· Given no family, friends, or beliefs were identified as a support base, it would seem there are no resources on which Linda might rely.
· Given her sustained employment, attempts at effecting change, and self-referral, it seems as Linda may have the capacity for insight, ability to sustain, and motivation for change.
3. Diagnosis
Axis I: [Be sure to provide full title and code]
300.04
Dysthymic Disorder
Axis II:
V71.0 ...
HW#3 – Spring 20181. Giulia is traveling from Italy to China. .docxwellesleyterresa
HW#3 – Spring 2018
1. Giulia is traveling from Italy to China. The plane briefly lands in Thailand to refuel and pick up new passengers. In the process of landing in Thailand, the overhead storage bin across the aisle flies open and a carry-on bag whacks Giulia in the head causing a concussion. Does the Montreal Convention govern this incident? Explain in detail why or why not. (4)
2. Following up on #1, Giulia’s husband, Kevin, is on board and is deeply disturbed by the incident to the point that he files a claim for mental anguish. What are his chances of success? Explain. (3)
3. How many U.S. dollars would someone get if they sustained 100 kilograms worth of cargo losses under the Montreal convention on February 1st, 2018? (3)
4. Lucas is flying from Houston, TX to Ixtapa, Mexico for a fishing vacation when a 3 hour delay in Houston forces him to miss his connecting flight, resulting in a loss of $500 in pre-paid expenses. If the delay was due to weather would the airline be liable under the Montreal Convention? What about a mechanical issue? Explain the likelihood of his success in recovery in each case. (4)
4. Answer #4 page 179.
(4)Fishman shipper a container of boys’ pants on a ship owner by Tropical. The container was lost at sea due to improper storage. The pants were attacked into bundles of 12 each and placed into what is known in the industry as a “big pack.” A “big pack” is similar to a 4’x4’ pallet, partially enclosed in corrugated cardboard, with a base and cover made of plastic. The bill of lading stated, “1 x 40 ft. [container] STC [said to contain] 39 Big Pack Containing 27,908 unit’s boy’s pants.” Fishman maintains that Tropical is liable for an amount up to $500 for each of the 2,325 bundles. If the carrier is liable for up to $500 per “package,” what is the limit of the carrier’s liability? Fishman & Tobin, Inc. v. Tropical Shipping & Const. Co., Ltd., 240 F.3d 956 (11th Cir. 2001).
5. I’m the process of shipping goods that are damaged while sitting on the dock in California waiting for loading. Absent contractual language about choice of law, which law will govern my claim? (2)
6. My goods are going to be shipped from Florida to South Africa. During the voyage, the ship’s captain makes a navigational error and runs aground 50 miles off course, destroying my cargo. Will the carrier be liable under COGSA? Explain why/why not? (4)
7. Watch the video and review in detail the following website: https://www.youtube.com/watch?v=8fGrS0kU2h0, http://worldjusticeproject.org/. What is the rule of law? Why is this concept a concern for International business? Do you think the United States lives by the Rule of Law? This has actually been a hot topic of late in our political discussions. (8 points)
8. What does it mean to have “normal trade relations” with a country and why is this a big deal? (3)
9. An Italian company believes that its products have been unfairly treated in terms of tariffs by the U.S. government. In wha ...
HW 4 Gung Ho Commentary DUE Thursday, April 20 at 505 PM on.docxwellesleyterresa
HW 4: Gung Ho Commentary
DUE: Thursday, April 20 at 5:05 PM on Isidore (upload) and in class (hard copy)
Unlike watching a movie for entertainment, this assignment requires you to mindfully pay attention to how leadership is expressed, and how people from different cultures differ in their leadership styles. Specifically, use the guide below to (1) describe leaders, (2) analyze effective and ineffective leadership styles, and (3) provide suggestions for improving leadership in cross-cultural situations. Use the entire movie to inform your answers.
Read this viewing guide BEFORE you begin watching the movie. AFTER watching the movie, write down your observations and analysis pertaining to each of these questions.
Instructions
· Read through the questions in this worksheet
· Watch the movie “Gung Ho”
· Use this worksheet to write down your answers to each of the questions
1) Based on this movie, how would you describe the culture—values and beliefs about what is “right” and “wrong”—in Japanese companies?
2) Based on this movie, how would you describe the culture—values and beliefs about what is “right” and “wrong”—in American companies?
3) Drawing on your answers on questions 1 and 2, what would be an effective leadership style in Japanese organizations? Alternatively, what would be an effective leadership style in American organizations?
4) Gung Ho means working together in Chinese. What tactics did the leaders of this factory use to get workers from different cultures to work together?
5) How would you describe Hunt’s leadership style at the beginning of the movie? What about the end of the movie? Support your answers with specific examples from the movie.
6) How would you describe the leadership style of the executives at Assan Motors (such as Kazihiro and Saito)? Support your answers with specific examples from the movie.
HW
4:
Gung
Ho
Commentary
DUE:
Thursday,
April
20
at
5:05
PM
on
Isidore
(upload)
and
in
class
(hard
copy)
Unlike
watching
a
movie
for
entertainment,
this
assignment
requires
you
to
mindfully
pay
attention
to
how
leadership
is
expressed,
and
how
people
from
different
cultures
differ
in
their
leadership
styles.
Specifically,
use
the
guide
below
to
(1)
describe
leaders,
(2)
analyze
effective
and
ineffective
leadership
styles,
and
(3)
provide
suggestions
for
improving
leadership
in
cross-cultural
situations.
Use
the
entire
movie
to
inform
your
answers.
Read
this
viewing
guide
BEFORE
you
begin
watching
the
movie.
AFTER
watching
the
movie,
write
down
your
observations
and
analysis
pertaining
to
each
of
these
questions.
Instructions
·
Read
through
the
questions
in
this
worksheet
·
Watch
the
movie
“
Gung
Ho
”
·
Use
this
worksheet
to
write
down
your
answers
to
each
of
the
questions
...
HW 5 Math 405. Due beginning of class – Monday, 10 Oct 2016.docxwellesleyterresa
HW 5: Math 405. Due: beginning of class – Monday, 10 Oct 2016
1. Strogatz (1988). Consider lovers, Romeo and Juliet. Let:
R(t) = Romeo’s love/hate for Juliet at time t;
J(t) = Juliet’s love/hate for Romeo at time T;
where positive values of R(t), J(t), signify love, and negative values signify hate, at
a time t. Consider this model for a “fickle” lover, in which “the more Romeo loves
Juliet, the more she wants to run away and hide. But when Romeo gets discouraged
and backs off, Juliet begins to find him strangely attractive. Romeo, on the other
hand, tends to echo Juliet: he warms up when she loves him and grows cold when
she hates him.”
R′(t) = aJ,
J′(t) = −bR, (1)
where a,b > 0 .
(a) Rewrite (1) as a system.
(b) Find the fixed point(s).
(c) Find the eigenvalues.
(d) Find the eigenvectors.
(e) Write the general solution. Show that it can be written as a real-valued solution
like: [
R(t)
J(t)
]
=
{
cos(
√
ab t)
[
k1
√
a/b
k2
]
+ sin(
√
ab t)
[
k2
√
a/b
−k1
]}
(f) Show that the trajectories in phase space are ellipses, governed by the equation
R2
aC2
+
J2
bC2
= 1,
where C2 > 0 is an arbitrary constant.
(g) Classify the fixed point and its stability.
(h) In what direction do Romeo’s and Juliet’s feelings go around the ellipse?
(i) Discuss the possible outcome for different initial conditions of love/hate.
2. (Doug Wright, Drexel U.) Romeo’s best friend, Mercutio, doesn’t like Juliet’s fick-
leness and thinks that Romeo is too good for her. He has decided to try to break
them up for good. So, he has started telling Romeo how awful Juliet is. Romeo
trusts Mercutio, and so, his ardor for Juliet wanes a bit when Mercutio tells him
such things, though he still really likes Juliet. On the other hand, Juliet dislikes
1
Mercutio and the more he disapproves of her relationship with Romeo, the more
she likes Romeo. Let R and J be as before, and let M(t) be Mercutio’s disapproval
of Romeo and Juliet’s relationship at time t, with positive values of M signifying
disapproval. Then a model for this complicated saga is:
R′(t) = J − 2M,
J′(t) = −R + 4M,
M ′(t) = R + 4J (2)
(a) Rewrite (2) as a system.
(b) Find the fixed point(s).
(c) Find the eigenvalues.
(d) Without further calculation, describe what happens to Romeo and Juliet’s
relationship now. Does Mercutio’s tampering have the effect he wants? Do
Romeo and Juliet continue to oscillate between love and hate as before?
3. (Doug Wright, Drexel U.) So, now, it turns out that Mercutio has feelings for
Juliet. Let R(t) be Romeo’s love/hate for Juliet at time t, as before; JR(t) be
Juliet’s love/hate for Romeo at time t; M(t) be Mercutio’s love/hate for Juliet at
time t; and JM (t) be Juliet’s love/hate for Mercutio at time t.
The situation is that:
• Romeo still likes/dislikes Juliet more the more she likes/dislikes him;
• Romeo doesn’t know about the Mercutio/Juliet leg of the triangle, so his
feelings are unaffected by Mercutio’s feelings for Juliet and Juliet’s fe ...
HW 5-RSA/ascii2str.m
function str = ascii2str(ascii)
% Convert to string
str = char(ascii);
HW 5-RSA/bigmod.m
function remainder = bigmod (number, power, modulo)
% modulo function for large numbers, -> number^power(mod modulo)
% by bennyboss / 2005-06-24 / Matlab 7
% I used algorithm from this webpage:
% http://www.disappearing-inc.com/ciphers/rsa.html
% binary decomposition
binary(1,1) = 1;
col = 2;
while ( binary(1, col-1) <= power-binary(1, col-1) )
binary(1, col) = 2*binary(1, col-1);
col = col + 1;
end
% flip matrix
binary = fliplr(binary);
% extract binary decomposition from number
result = power;
cols = length(binary);
extracted_binary = zeros(1, cols);
index = zeros(1, cols);
for ( col=1 : cols )
if( result-binary(1, col) > 0 )
result = result - binary(1, col);
extracted_binary(1, col) = binary(1, col);
index(1, col) = col;
elseif ( result-binary(1, col) == 0 )
extracted_binary(1, col) = binary(1, col);
index(1, col) = col;
break;
end
end
% flip matrix
binary = fliplr(binary);
% doubling the powers by squaring the numbers
cols2 = length(extracted_binary);
rem_sqr = zeros(1, cols);
rem_sqr(1, 1) = mod(number^1, modulo);
if ( cols2 > 1 )
for ( col=2 : cols)
rem_sqr(1, col) = mod(rem_sqr(1, col-1)^2, modulo);
end
end
% flip matrix
rem_sqr = fliplr(rem_sqr);
% compute reminder
index = find(index);
remainder = rem_sqr(1, index(1, 1));
cols = length(index);
for (col=2 : cols)
remainder = mod(remainder*rem_sqr(1, index(1, col)), modulo);
end
HW 5-RSA/EGCP447-Lecture No 10.pdf
RSA Encryption
RSA = Rivest, Shamir, and Adelman (MIT), 1978
Underlying hard problem
– Number theory – determining prime factors of a given
(large) number
e.g., factoring of small #: 5 -) 5, 6 -) 2 *3
– Arithmetic modulo n
How secure is RSA?
– So far remains secure (after all these years...)
– Will somebody propose a quick algorithm to factor
large numbers?
– Will quantum computing break it? -) TBD
RSA Encryption
In RSA:
– P = E (D(P)) = D(E(P)) (order of D/E does not matter)
– More precisely: P = E(kE, D(kD, P)) = D(kD, E(kE, P))
Encryption: C = Pe mod n KE = e
– n is the key length
– Note, P is turned into an integer using a padding
scheme
– Given C, it is very difficult to find P without knowing
KD
Decryption: P = Cd mod n KD = d
We will look at this algorithm in detail next time
RSA Algorithm
1. Key Generation
– A key generation algorithm
2. RSA Function Evaluation
– A function F, that takes as an input a point x and a
key k and produces either an encrypted result or
plaintext, depending on the input and the key
Key Generation
The key generation algorithm is the most
complex part of RSA
The aim of the key generation algorithm is to
generate both th ...
HW 3 Project Control• Status meeting agenda – shows time, date .docxwellesleyterresa
HW 3: Project Control
• Status meeting agenda – shows time, date and location of the meeting. Each agenda item should show the item to be discussed, who is the primary facilitator for that topic, and how long the item is estimated to be discussed. A section of the form should capture action items taken from the meeting, including who is responsible and what the desired date for conclusion is.
• Issues tracking worksheet – allows all open issues on a project to be captured, along with a rating of their importance, point person responsible, notes, and desired date of resolution.
• Status report form – includes the most important elements of project status. Examples: project name, brief scope, CPI, SPI, project manager, key issues, key risks, recent accomplishments, upcoming accomplishments.
...
HW 1January 19 2017Due back Jan 26, in class.1. (T.docxwellesleyterresa
HW 1
January 19 2017
Due back Jan 26, in class.
1. (Tadelis p.12) You plan on buying a used car. You have $12,000 and you are not
eligible for any loans. the prices of available cars on the lot are given as follows:
Make, model and year Price
Toyota Corolla 2002 9350
Toyota Camry 2001 10500
Buick Lesabre 2001 8825
Honda Civic 2000 9215
Subaru Impreza 2000 9690
For any given year, you prefer a Camry to an Impreza, an Impreza to a Corolla, a
Corolla to a Civic, and a Civic to a LeSabre. For any given year, you are willing to
pay $999 to move from any given car to the next preferred one. For example, if the
price of the Corolla is z, then you are willing to buy it rather than a Civic if the Civic
costs more than z−999 but prefer the civic if it costs less than this. For any given car,
you are willing to move to a model a year older if it is cheaper by at least $500. For
example, if the price of a 2003 Civic is x, then you are willing to buy it rather than a
2002 Civic, if the 2002 Civic costs more than x−500.
(a) What is your set of possible alternatives?
(b) What are your preferences between each pair of alternatives in your set?
(c) What car would you choose?
2. Harrington, end of Chapter 2, #1
3. Harrington, end of Chapter 2, #6
4. Harrington, end of Chapter 2, #9.
1
Symmetric Information and Competitive
Equilibrium
Neil Wallace
January 3, 2017
1 Introduction
We are all familiar with the general idea of uncertainty. We are uncertain
about tomorrow’s weather, about whether we will wake up with a headache
tomorrow morning, and about whether someone’s estimate of the labor re-
quired to repair our car is correct. Considerable effort is directed toward
coping with uncertainty. Some farmers have costly irrigation systems in or-
der to make output less dependent on variations in rainfall. And many of
us buy insurance of various sorts to limit our exposure to some kinds of un-
certainty. Moreover, there are government programs like disaster aid and
unemployment insurance that are intended to offset some of the effects of
uncertainty.
Here is an example of the kind of setting we will study. There are N
people labelled 1, 2, ...,N. Rainfall is uncertain and it can either be high or
low, just two possibilities. We denote the level of rainfall by s ∈ {H,L},
where we use the letter s as a shorthand for state or state-of-the-world and
where H stands for high and L for low. We suppose that each person has
some land that will without effort bear a crop of some amount of rice. The
size of the crop will depend on whether rainfall is high or low. For person n,
we denote the size of the rice crop by (wnH,wnL), where wns is the crop on
n’s land if the state is s. We assume that wns > 0, but, otherwise, make no
other special assumptions about it. In particular, we want to assume that
some land does better with high rainfall and other land does better with low
rainfall. If s = H, the total crop is
∑N
n=1 wnH, denoted WH; if s = L, t ...
hw1.docxCS 211 Homework #1Please complete the homework problem.docxwellesleyterresa
hw1.docxCS 211 Homework #1
Please complete the homework problems on the following page using a separate piece of paper. Note that this is an individual assignment and all work must be your own. Be sure to show your work when appropriate. This assignment is due in lab on Monday, October 10, 2016.
1. [3] Given the following pre-order and in-order traversals, reconstruct the appropriate binary tree. NOTE: You must draw a single tree that works for both traversals.
Pre-order: A, E, D, G, B, F, I, C
In-order: D, E, B, G, A, F, I, C
2. [3] Starting with an empty BST, draw each step in the following operation sequence. Assume that all removals come from the left subtree when the node to remove is full.
Insert(5), Insert(10), Insert(2), Insert(9), Insert(1), Insert(3), Remove(5).
3. [3] Starting with an empty BST, draw each step in the following operation sequence. Assume that all removals come from the right subtree when the node to remove is full.
Insert(10), Insert(5), Insert(23), Insert(4), Insert(19), Insert(7), Insert(9), Insert(6), Remove(5).
4. Given the following binary tree:
A. [1] What is the height of the tree?
B. [1] What is the depth of node 90?
C. [1] What is the height of node 90?
D. [3] Give the pre-order, in-order, and post-order traversal of this tree.
5. Given the following two functions:
int f(int n)
{
if(n <= 0)
{
Return 0;
}
return 1 + f(n - 1);
}
int g(int n)
{
int sum = 0;
for(int i = 0; i < n; i++)
{
sum += 1;
}
Return sum;
}
A. [2] State the runtime complexity of both f() and g()
B. [2] State the memory complexity for both f() and g()
C. [4] Write another function called "int h(int n)" that does the same thing but has a more efficient runtime complexity.
Requirements:
This abstract and outline is for your individual paper that you will be handing in on finals week. Same topic as with your team, but you will write a one paragraph abstract describing your topic, and how you plan to treat it. While you will be walking through all the steps of the Systems Process (which I understand we havent covered in full yet) you may in your abstract and outline want to mention parts that will have more emphasis based on your knowledge of the background of your problem. The outline should obviously include all the steps of the systems process with extra elements based your what you think will have heavier emphasis.
Idea:
So as you know, Elon Musk has just announced SpaceX plan to colonize Mars in the upcoming decades and we thought this would be an interesting topic to research through the 13 steps of the systems engineering process.
Links:
Full Video: https://www.youtube.com/watch?v=IAZ-Xbn5hr0
Short Abbreviated: https://www.youtube.com/watch?v=Yzw6_V7LGeY
Our group idea: after people went to Mars, they will build a system
these ideas supposed to be I think or depends on you:
Buildings, spaces to live, water, and other elements required for life, write in an engineering ...
HUS 335: Interpersonal Helping Skills
Case Assessment Format
The case assessment takes place after the intake and assessment interviews have been conducted. The helping professional must evaluate the application for services to determine eligibility for services. This is just one process for conducting a case assessment.
Step 1. Provide me with your agency’s profile with your eligibility guidelines (on a separate page)
Step 2. Review the case assessment process (things to think about as you complete the assessment)
Step 3. Complete the Case Assessment (p. 2)
I. Examine your agency’s guidelines for eligibility as well as federal or state guidelines, if applicable. What are your agency’s guidelines for eligibility?
II. Review all the information you have gather on your client during the initial contact, intake, and assessment phases.
a. Applicant’s reason for applying for services
b. His/her background
c. Strengths
d. Weaknesses
e. The problem that is causing difficulty
f. What the applicants want to have happen as a result of service delivery
III. Determine if the client is eligible for services at your agency.
A. Is the client eligible for services? Why or why not?
B. What problems are identified (i.e., presenting problem)?
C. Are services or resources available that relate to the problems identified?
D. Will the agency’s involvement help the client reach the objectives goals that have been established.
E. Is more information needed (e.g., referral source, client’s family, chool officials, employer, medical doctor, mental health professional, previous social service agencies, etc.)
IV. Impressions
V. Assessment
VI. Service Identification/Recommendations for Services
VII. Case Assignment
Your Agency’s Name
Case Assessment
Pseudo Client Name: ____________________________________________ Date: _________________
Human Services Professional: ______________________________________ Title: _________________
Intake Date: ______________________ Assessment Interview Date: _________________________
I. Demographic description of client
Age, gender, cultural background, race, socioeconomic status, religion, occupation, marital/family status, education
II. Presenting Problem
Indicate referral source (e.g., self-referred or agency referral). If an agency referred the client, state why they referred the client to your agency.
State what brought the client to your agency from the client’s perspective. (This only needs to be a few sentences and not the history of the client.)
III. Impression/Interview affect, behavior, and mental status
How does the client appear to you (grooming, dress, voice, tone, mood, timeliness for the interview, cooperativeness, etc.)? Has this been consistent or changed throughout sessions (intake and assessment interview sessions)?
IV. History
Present the history as objectively as possible and only key information. Facts that were collected from the client, significant records, and referral source. Let the facts s ...
HW #1Tech Alert on IT & Strategy (Ch 3-5Ch 3 -5 IT Strategy opt.docxwellesleyterresa
HW #1:Tech Alert on IT & Strategy (Ch 3-5
Ch 3 -5 IT Strategy option: Find one article that relatesto the content covered in Chapters 3-5in our text. For this option, choose one of the following approaches:
· Summarize a recent ‘real-world’ example that illustrate atopic presented in one of these chapters or find a related article that extend the book’s discussion on IT and strategy, and /or;
· Discuss or provide an example of a key term shown in the book margins from Chapters 3 -5.
· Look at the discussion questions at the end of the chapter sections and find an article that helps you answer a question that is posed, or;
· Follow up on a specific case study presented in the text or find comparable examples. If you choose this option, you must focus on new information about the organization that is not included in the text.
3.1 Introduction
Learning Objective
Understand how Zara’s parent company Inditex leveraged a technology-enabled strategy to become the world’s largest fashion retailer.
Operating in the northern coastal city of La Coruña (or A Coruña in the local Galician language), Spanish entrepreneur Amancio Ortega was brainstorming names for his new shop and settled on “Zorba” after the classic movie Zorba the Greek. He simply thought it was “a nice name.” Unfortunately, there was a bar with the same name a few blocks away and the bar’s owner was worried patrons would be confused. The molds for the letters for Ortega’s shop had already been cast, so they played around with what they had and came up with “Zara.”[] As it turns out, for Zara it’s technology, not the name, that has made all the difference in its rise to dominate the decidedly ungeeky fashion industry.
Today, Zara is the game-changing crown jewel in the multibrand empire of Inditex Corporation (Industrias de Diseño Textil), the world’s largest pure-play fashion retailer and a firm that’s bigger than Gap, H&M, Topshop, and anyone else in the space. The firm’s supremacy is plotted and executed from “The Cube,” the gleaming, futuristic headquarters located in La Coruña’s Arteixo industrial area. The blend of technology-enabled strategy that Zara has unleashed seems to break all of the rules in the fashion industry. The firm shuns advertising and rarely runs sales. Also, in an industry where nearly every major player outsources manufacturing to low-cost countries, Zara is highly vertically integrated, keeping huge swaths of its production process in-house. These counterintuitive moves are part of a recipe for success that’s beating the pants off the competition and has catapulted Ortega to become the world’s third richest man, ahead of Warren Buffet.
Figure 3.1
Zara’s operations are concentrated in Spain, but they have stores around the world like these in Manhattan and Shanghai.
Source: Used with permission from Inditex.
The firm tripled in size between 1996 and 2000, and then its revenue skyrocketed from $2.43 billion in 2001 to more than $20 billion in 2012. ...
HW 2 (1) Visit Monsanto (httpwww.monsanto.com) again and Goog.docxwellesleyterresa
HW 2
(1) Visit Monsanto (http://www.monsanto.com) again and Google to find various information about internal factors of Monsanto.
(2) Based on the information, perform your own internal audit for Monsanto. You do not need to perform financial analysis for this assignment. If you perform the internal audit, you will find strengths and weaknesses of Monsanto.
(3) List the strengths and weaknesses of Mondanto. Then, explain why you think so.
Note: Strengths and Weakness are SW of SWOT analysis. We will use strengths and weaknesses in the last module later.
1
Class Today
• Print notes and examples
• Trusses
– Definition
– Working with Trusses
– Truss Analysis
• Example Problems
• Group Work Time
http://www.mst.edu/~ide50-3/printable_notes/13_Trusses.pdf
http://www.mst.edu/~ide50-3/printable_notes/13_Trusses_examples.pdf
…these are cool trusses
Norman Foster
Sainsbury Centre
Santiago Calatrava
Turning Torso
Shigeru Ban
Japanese Pavilion
KMR
… be inspired!
3
Renzo Piano
Kansai International Airport
Rem Koolhaas
The Shenzhen Stock Exchange
KMR
So what are trusses?
http://bridgehunter.com/story/1109/
http://www.americanpoleandtimber.com/img/wood-timber-trusses-park-BIG.jpg
http://www.hndszj.com/eng/uploads/201008101822313.jpg
Trusses are …
• Structures designed to support loads:
− Will transmit loads through the joints of the structure
− Will ultimately transmit loads to the foundation
• Cost effective in design because:
− Weight is minimized (weight of members is typically
light compared to loads carried, so it is often
neglected)
− Strength to weight ratio is maximized
Image copyright 2013, Pearson Education, publishing as Prentice Hall
Working with Trusses:
Assumptions
• All loads are applied / transmitted at joints
• All members are joined by pin connections
• Consist entirely of two-force members
(review section 5.4)
• Can contain zero-force members
Image copyright 2013, Pearson Education, publishing as Prentice Hall
Zero-force Members
What are zero-force members?
• Structural members that carry no force
Why do we use them?
• Used to provide stability
– During construction
– If (intermittent) loading of the truss changes
• Shortens chord length and increases
buckling capacity of compression members
7
Zero-force Members: Case 1
Zero-force Members: Case 2
10
http://www.tatasteelconstruction.com/static_files/Images/Construction/Reference/
architectural%20studio/elements/Structural%20steel%20trusses/j2.jpg
http://www.tboake.com/SSEF1/rose2.shtml
http://sluggyjunx.com/rr/georgetown_branch/gallery/04_16_0
3_gb_canal_bridges/04_16_03-gb_canal_br-34.jpg
Gusset plate
pin
Joint Connections
Welded
connection http://www.tatasteelconstruction.com/en/reference/teaching-
resources/architectural-teaching-resource/elements/connections/connections-
in-trusses
11
http://civildigital.com/wp-con ...
Hunters Son Dialogue Activity1. Please write 1-2 sentences for e.docxwellesleyterresa
Hunters Son Dialogue Activity
1. Please write 1-2 sentences for each of the characters below, explaining the broader point of view that they represent:
HUNTER:
HUNTER’S SON:
THE BOY:
2. Based on your answers above, please explain in 2-3 sentences what you think the author is trying to achieve by bringing these perspectives together and having them speak with one another.
3. In a sentence or two, please explain what you think the play is telling us (the reader) about how indigenous writers and people relate to animals?
...
HW 2 - SQL The database you will use for this assignme.docxwellesleyterresa
HW 2 - SQL
The database you will use for this assignment contains information related to Major League
Baseball (MLB) about players, teams, and games. The relations are:
Players(playerID, playerName, team, position, birthYear)
● playerID is a player identifier used in MLB, and all players throughout the history of
baseball have a unique ID
● playerName is player’s name
● team is the name of the MLB team the player is currently playing on (or the last team the
player played for if they are not currently playing)
● position is the position of the player
● birthYear is the year that player was born
Teams(teamID, teamName, home, leagueName)
● teamID is a unique ID internal to MLB.
● teamName is the name of the team
● home is the home city of the team
● leagueName is the league the team is in, i.e. either “National” or “American”, which
stands for “National League” and “American League”, respectively
Games(gameID, homeTeamID, guestTeamID, date)
● gameID is a unique ID used internally in MLB
● homeTeamID is the ID of the hometeam
● guestTeamID is the ID of the visiting team
● date is the date of the game.
A sample instance of this database is given at the end of this homework handout. Since it is just
one instance of the database designed to give you some intuition, you should not “customize”
your answer to work only with this instance.
1. (10 points each) Write the following queries in SQL, using the schema provided
above. (Note: Your queries must not be “state-dependent", that is, they should work without
modification even if another instance of the database is given.)
(a) Print the names of all players who were born in 1970 and played for the Braves.
(b) Print the names of teams that do not have a pitcher.
(c) Print names of all players who have played in the National League.
(d) Print all gameIDs with Phillies as the home team.
2. (15 points each) Write the following queries in SQL, using the schema provided
above.
(a) Print all teamIDs where the team played against the Phillies but not against the Braves.
(b) Print all tuples (playerID1, playerID2, team) where playerID1 and playerID2 are (or have
been) on the same team. Avoid listing self-references or duplicates, e.g. do not allow
(1,1,”Braves”) or both (2,5,”Phillies”) and (5,2,”Phillies”).
(c) Print all tuples (teamID1, league1, teamID2, league2, date) where teamID1 and teamID2
played against each other in a World Series game. Although there is no direct information
about the World Series games in the relations, we can infer that when two teams from different
leagues play each other, it is a World Series game. So, in this relation, league1 and league2
should be different leagues.
(d) List all cities that have a team in all leagues. For example, there are currently two leagues
(National and American). Although not shown in this instance, New York is home to the Mets in
the National ...
Humanities Commons Learning Goals1. Write about primary and seco.docxwellesleyterresa
Humanities Commons Learning Goals
1. Write about primary and secondary texts on the topic of literacy from the perspective of English Studies and at least one additional discipline in the Humanities Commons in a manner that reflects their ability to read critically;
2. Engage in a process approach to writing college-level prose;
3. Produce rhetorically effective college-level expository prose;
4. Demonstrate effective use of scholarly sources in their writing;
5. Recount in college-level prose their personal literacy histories and current literacy practices;
6. Examine in writing the discourse of a community different from themselves with respect to factors such as race, class, gender, sexuality, and so forth.
7. Explore the relevance of Catholic intellectual tradition for the study of reading, writing, and/or rhetoric as human endeavors.
you are to put together your Final Exam Portfolio. In this, you should have your Diagnostic Essay, drafts and revisions of your Literacy Narrative/Metawriting Assignment, Catholic Intellectual Tradition Response, Discourse Community Ethnography, and Argumentative Proposal Synthesis. You also need a final reflective essay discussing how you have grown as a writer over the term. This should be around one to three pages, but may go longer.
As a review, here is an overview of the material we covered:
Humanities Commons Learning Goals
Write about primary and secondary texts on the topic of literacy from the perspective of English Studies and at least one additional discipline in the Humanities Commons in a manner that reflects their ability to read critically;
Engage in a process approach to writing college-level prose;
Produce rhetorically effective college-level expository prose;
Demonstrate effective use of scholarly sources in their writing;
Recount in college-level prose their personal literacy histories and current literacy practices;
Examine in writing the discourse of a community different from themselves with respect to factors such as race, class, gender, sexuality, and so forth.
Explore the relevance of Catholic intellectual tradition for the study of reading, writing, and/or rhetoric as human endeavors.
Metawriting
“Sponsors of Literacy” - Brandt
Portrait of the Artists as
A Young Person – Literacy Narrative
A Young Adult – Autoethnography
MLA Conventions
Library Research
Grammar
Write in Active Voice
Seven Comma Rules
Affect/Effect; it’s its; etc.
Introduce Quotations
Quote, Summary, Paraphrase
Hamburger Metaphor for integrating quotes
Classical Aristotelian Essay Form
Rebuttal
Compare Contrast Essay: Block vs. Alternating
Works Cited List
Top Twenty Errors
Discourse Community Ethnography
“The Concept of a Discourse Community” – Swales
C.A.R.S. – Creating a Research Space – Swales
“Learning to Serve: The Language and Literacy of Food Service Workers” – Mirabelli
“Rethinking Subcultural Resistance: Core Values of the Straight Edge Movement” –
Haenfl ...
HURRICANE KATRINA A NATION STILL UNPREPARED .docxwellesleyterresa
HURRICANE KATRINA:
A NATION STILL UNPREPARED
EXECUTIVE SUMMARY
REPORT OF THE SENATE COMMITTEE ON HOMELAND
SECURITY AND GOVERNMENTAL AFFAIRS
MAY 2006
EXECUTIVE SUMMARY
Hurricane Katrina was an extraordinary act of nature that spawned a human
tragedy. It was the most destructive natural disaster in American history, laying waste to
90,000 square miles of land, an area the size of the United Kingdom. In Mississippi, the
storm surge obliterated coastal communities and left thousands destitute. New Orleans
was overwhelmed by flooding. All told, more than 1500 people died. Along the Gulf
Coast, tens of thousands suffered without basic essentials for almost a week.
But the suffering that continued in the days and weeks after the storm passed did
not happen in a vacuum; instead, it continued longer than it should have because of – and
was in some cases exacerbated by – the failure of government at all levels to plan,
prepare for and respond aggressively to the storm. These failures were not just
conspicuous; they were pervasive. Among the many factors that contributed to these
failures, the Committee found that there were four overarching ones: 1) long-term
warnings went unheeded and government officials neglected their duties to prepare for a
forewarned catastrophe; 2) government officials took insufficient actions or made poor
decisions in the days immediately before and after landfall; 3) systems on which officials
relied on to support their response efforts failed, and 4) government officials at all levels
failed to provide effective leadership. These individual failures, moreover, occurred
against a backdrop of failure, over time, to develop the capacity for a coordinated,
national response to a truly catastrophic event, whether caused by nature or man-made.
The results were tragic loss of life and human suffering on a massive scale, and an
undermining of confidence in our governments’ ability to plan, prepare for, and respond
to national catastrophes.
Effective response to mass emergencies is a critical role of every level of
government. It is a role that requires an unusual level of planning, coordination and
dispatch among governments’ diverse units. Following the terrorist attacks of 9/11, this
country went through one of the most sweeping reorganizations of federal government in
history. While driven primarily by concerns of terrorism, the reorganization was designed
to strengthen our nation’s ability to address the consequences of both natural and man-
made disasters. In its first major test, this reorganized system failed. Katrina revealed
that much remains to be done.
The Committee began this investigation of the preparations for and response to
Hurricane Katrina within two weeks of the hurricane’s landfall on the Gulf Coast. The
tragic loss of life and human suffering in Katrina’s wake would have been sufficient in
themselves to compel the Commit ...
Humanities 115
Short Essay Grading Criteria
Excellent
Passing
Unacceptable
Analysis
25, 18, 10
Details of individual myths are discussed thoughtfully, articulately, and accurately. Critical approaches and terminology are applied accurately and insightfully. Discussion of myths reflects rich, genuine intellectual engagement.
Applications of critical approaches and terms to myths occur, and demonstrate intellectual engagement with course materials, but maybe relatively superficial or contain some inaccuracy. Discussion may at times be vague, ideas may be somewhat underdeveloped.
Important elements missing or very underdeveloped. Substantial inaccuracies may occur.
Scholarly Rigor
13, 9, 5
Assertions are consistently backed with textual evidence. Sources are precisely cited with in-text parenthetical citations as well as a works cited page, if applicable.
Text-based support is sometimes used, citation is imprecise or incomplete.
Text-based support is generally absent, and/or citations are absent.
Coherence
5, 3, 1
Ideas are organized into coherent paragraphs. Transitions are used effectively within paragraphs. Transitions also fluently connect paragraphs.
Ideas are organized into paragraphs. Transitions are usually present and effective.
Essay lacks coherent paragraphs and transitions are absent or ineffective.
Grammar
& Mechanics
5, 3, 1
Standard Academic English is deployed in a controlled manner. Punctuation is precise. Small, occasional errors might occur, but never impede meaning.
Controlled deployment of Academic English is emerging. When errors occur, they only occasionally impede meaning.
Errors are numerous and consistently impede meaning.
Formatting
2, 1, 0
The following conventions of Modern Language Association format are used precisely: essay is consistently double-spaced throughout; a heading with your name, instructor’s name, course name, and date appears at the top left corner of the first page; title is centered just below the heading; text of the journal begins one double spaced line below the title; last name and page number appear at the top right of each page.
Most conventions are followed.
Most conventions are not followed.
Student Sample Essay #2
Genesis Myth
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To begin, the sole reason for the creation of woman ...
HUMAN RESOURCES’ ROLE IN SUCCESSION PLANNING Succession planni.docxwellesleyterresa
HUMAN RESOURCES’ ROLE IN SUCCESSION PLANNING
Succession planning and stewardship of corporate talent pool is a top priority for most companies. HRM can have a significant impact on the succession planning process.
There are three general roles that HR leaders play in succession planning.
1| THE CONSIGLIORE
HR can play a critical influential role in succession planning in a variety of business models such a in Public Companies, family-owned businesses and privately held firms.
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2| THE PROCESS OWNER
Without a capable individual providing strong and objective process discipline, boards often revert to emergency closed door sessions and uninformed decision-making. HR should be the process steward for succession planning.
HR needs to create the process, provide the tools and put forth succession candidates. HR should be a counselor who can help neutralize emotions and make sure decision makers have an objective perspective.
HR needs to be the leader and an integral and constant presence in the succession-planning process
3| THE SUBJECT MATTER EXPERT
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HR should provide the insights about the strengths, weaknesses and development plans for individuals as well as characteristics of the talent pool overall.
HR must serve as the central repository and “paint a picture” of various succession candidates. HR must present a succinct summary of experience, responsibilities, past performance ratings and development plans for all candidates .
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Company’s expect human resources to provide detailed talent profiles of potential successor candidates, including strengths, weaknesses and specific development needs, particularly in areas that can help someone move to the next level. The HR department needs to be prepared for any eventuality.
Human resources can play a critical role in matching the right person for each situation.
For example, if the company needs someone to “shake things up” it would be important for HR to have identified Change Agents in the organization
It the company needs to know “Who would step in to fill a key position in case of an emergency” HR should have identified those in the organization
Human resources’ should and must take the lead and have a primary role in succession planning.
Succession Planning and Human Resources
Succession planning is a process whereby an organization ensures that empl ...
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HW 5.docxAssignment 5 – Currency riskYou may do this assig.docx
1. HW 5.docx
Assignment 5 – Currency risk
You may do this assignment alone or with one other person. For
each of your answers, be as specific as possible about all
transactions and amounts involved.
All interest rates are stated as annual rates.
Part 1 Transaction risk
1 (10 points)
a. Select a foreign currency
b. Find the spot exchange rate for that currency
c. Select an amount between 150 million and 200 million
d. Select a number of months between 3 and 9
e. Select either payable or receivable. If you select payable, for
the rest of the questions in this part of the assignment, assume a
US firm is required to make a payment of the number selected
in part c of the foreign currency from part a at the time selected
in part d. If you select receivable, assume a US firm expects to
receive a payment of the number of units selected in part c of
the foreign currency from part a at the time selected in part d.
e. Describe the future payment (in $) from the above
assumptions if the exchange rate remains the same as it is
today.
2. (10 points) Explain how the firm can use leading or lagging
to reduce the exchange rate risk created by this payment.
3. (20 points) Assume the US interest rate is 2% and the foreign
interest rate is 5%, how can the firm hedge the transaction risk
associated with the payment using a money market hedge?
2. 4 (20 points)
a. How can the firm hedge the transaction risk associated with
the payment using a forward market hedge?
b. If the forward price is 1% lower than the spot exchange rate
(from 1b) and the actual exchange rate on the date the payment
is due is 1% higher than the spot exchange rate, what will the
dollar value of the amount the firm pays or receives on the due
date be?
c. If the forward price is 2% higher than the spot exchange rate
(from 1b) and the actual exchange rate on the date the payment
is due is 1% higher than the spot exchange rate, what will the
dollar value of the amount the firm pays or receives on the due
date be?
5 (20 points)
a. How can the firm hedge the risk associated with the payment
using a foreign currency option?
b. If the option’s strike price is equal to the spot exchange rate
(from 1b) and the actual exchange rate on the payment is due is
2% lower than the spot market price, will the firm exercise the
options and what will the dollar amount the firm pays or
receives on the due date be?
c. If the option’s strike price is equal to the spot exchange rate
(from 1b) and the actual exchange rate on the payment is due is
2% higher than the spot market price, will the firm exercise the
options and what will the dollar amount the firm pays or
receives on the due date be?
6. (10 points) How could the firm hedge the transaction risk
associated with this payment by exposure netting or funds
adjustment?
Part 2 Economic risk
1. (10 points) Obtain weekly stock prices for the last five years
for a US company and a foreign company of your choice.
3. 2. (10 points) Obtain exchange rates for three different foreign
currencies, one of which must be the British pound or the Euro,
and the other the Japanese yen, the Mexican peso, the Canadian
dollar, and the third the currency of the country where the
foreign firm is located for the same dates as the stock prices in
question 1. (If the foreign firm is located in the UK or the euro
area, use the other of the two as your first currency. If it is
located in Japan, Mexico or Canada, use one of the other two
currencies as your second currency.)
3. (10 points) Calculate weekly returns on each stock and
weekly percentage changes in the exchange rate for each
currency.
4. (60 points) Determine the economic risk of the US stock and
the foreign stock with respect to each of the foreign currencies.
(You will have a separate regression for company and currency;
a total of six regressions.)
For each company and currency:
(a) Describe the magnitude of the stock’s risk relative to the
currency (e.g., “a 1% increase in the value of the currency is
associated with a ___% change in the value of the stock”).
(b) Indicate whether the stock price increases or decreases as
the value of the foreign currency increases.
(c) Determine whether the company’s risk relative to that
currency is statistically significant.
(d) Indicate what portion of the stock return volatility canbe
eliminated if the currency risk were hedged perfectly.
forex_assignment.docx
4. Part 1
1
a) Currency selected = UK Pound
b) Spot Rate = 0.70 Pound / $
c) Selected amount = 150,000,000 Pounds
d) Selected Months = 3 Months
f) Payment in pounds to be received i.e. US firm has a foreign
currency receivable exposure in 3 months.
g)
Payment Received Pounds
150,000,000.00
Exchange Rate (Pound/Dollar)
0.70
Payment Received Dollars
214,285,714.29
2)
Leading and lagging refers to an alteration made to normal
foreign payment receipt and payments. More specifically an
expected increase in exchange rates make it likely that the
company making the payment will speed up payments whereas
an expected decrease will lead to a slowdown of payments.
Since the company is receiving the payments it will do the
opposite when utilizing leads and lags to deal with exchange
rate risk.
3) The risk can be hedged by borrowing the present value of the
foreign currency receivable and converting it to dollars at the
spot rate of 0.7 pounds per dollar. The funds are then invested
at the US interest rate of 2%. After 3 months when foreign
currency is received the funds are used to repay the loan in
foreign currency.
Dollar interest rate
2.00%
Pound interest rate
5.00%
Disc Rate (Pound)
5. 101.23%
Present Value of FC
148,181,482.11
Converted to $
211,687,831.59
In 3 Months loan repaid
150,000,000.00
4)
a) Since the firm has a long exposure in 3 months in foreign
currency. The exchange rate risk can be hedged by going short
on a 3 month forward contract at the forward rate. This will
effectively lock in an exchange rate at the forward rate.
b)
3 month forward rate
0.69
Payment Received Pounds
150,000,000.00
Payment Received Dollars
216,450,216.45
c)
3 month forward rate
0.71
Payment Received Pounds
150,000,000.00
Payment Received Dollars
210,084,033.61
5)
a) The risk can be mitigated by entering into a currency put
option to sell the foreign currency at an exercise price. The use
of options however will give the firm the option not to exercise
if the actual exchange price is higher than the put price.
b)
6. Strike Price
0.7
Actual Spot Rate
0.69
Pounds received
150,000,000.00
Dollar received using option
214,285,714.29
Dollar received not using option
218,658,892.13
Option Exercised
Yes
C)
Strike Price
0.7
Actual Spot Rate
0.71
Pounds received
150,000,000.00
Dollar received using option
214,285,714.29
Dollar received not using option
210,084,033.61
Option Exercised
No
6) Netting could be used to hedge the risk if the firm also had a
payable in the foreign currency. The two payments could then
be used to net each other out hence reducing the overall
exposure of the firm to the foreign currency. More specifically
losses on receivable would be offset by gains on payable and
vice versa.
Part 2
1) Companies selected Verizon (US) and Telenor (Foreign).
7. Price Information available in excel file.
2) Parts 2-4. On excel sheet attached.
forex_workings.xlsx
Sheet11)Payment Received Pounds150,000,000.00Exchange
Rate (Pound/Dollar)0.70Payment Received
Dollars214,285,714.293)Dollar interest rate2.00%Pound interest
rate5.00%Disc Rate (Pound)101.23%Present Value of
FC148,181,482.11Converted to $211,687,831.59In 3 Months
loan repayed150,000,000.004b)3 month forward
rate0.69Payment Received Pounds150,000,000.00Payment
Received Dollars216,450,216.454c)3 month forward
rate0.71Payment Received Pounds150,000,000.00Payment
Received Dollars210,084,033.615b)Strike Price0.7Actual Spot
Rate0.69Pounds recievd 150,000,000.00Dollar received using
option214,285,714.29Dollar received not using
option218,658,892.13Option ExercisedYesStrike Price0.7Actual
Spot Rate0.71Pounds recievd 150,000,000.00Dollar received
using option214,285,714.29Dollar received not using
option210,084,033.61Option ExercisedNo
forex_workings_part_2.xlsx
Solution
s 2-4VerizonTelenor% ReturnDateVerizonTelenorBritish Pound
to US DollarUS Dollar to Norwegian KroneUS Dollar to
8. Mexican PesoChange in Value% ReturnChange in Value%
ReturnBritish Pound to US DollarUS Dollar to Norwegian
KroneUS Dollar to Mexican Peso13-Jun-
1653.78125.50.708.2718.841.112.11%-3.02-
2.35%1.82%1.18%0.89%6-Jun-
1652.67128.520.698.1818.681.753.44%-4.18-3.15%0.28%-
2.35%1.18%31-May-1650.92132.70.698.3718.460.30.59%-4.28-
3.12%-0.08%0.25%-0.32%23-May-
1650.62136.980.698.3518.520.961.93%0.780.57%-
0.50%2.26%1.17%16-May-1649.66136.20.698.1718.31-1.28-
2.51%4.283.24%0.00%-0.62%0.58%9-May-
1650.94131.920.698.2218.20-0.18-
0.35%5.894.67%1.78%2.50%5.84%2-May-
1651.12126.030.688.0217.200.180.35%-4.91-3.75%-1.25%-
2.25%-2.13%25-Apr-
1650.94130.940.698.2017.570.390.77%3.682.89%-1.46%-
0.16%0.79%18-Apr-1650.55127.260.708.2217.43-0.8-1.56%-
1.04-0.81%-0.31%0.22%-1.31%11-Apr-
1651.35128.30.708.2017.66-0.83-1.59%5.394.39%0.24%-
1.59%1.01%4-Apr-1652.18122.910.708.3317.49-1.27-2.38%-
1.61-1.29%-0.04%-1.21%0.24%28-Mar-
1653.45124.520.708.4317.440.450.85%-4.16-
3.23%0.77%0.23%0.12%21-Mar-
1653128.680.708.4117.420.320.61%0.10.08%-0.61%-0.74%-
1.83%14-Mar-1652.68128.580.708.4817.750.71.35%-1.32-
28. Square0.0020478183Standard
Error0.0302601824Observations260ANOVAdfSSMSFSignifican
ce
FRegression10.00140233740.00140233741.53147330210.21701
65373Residual2580.23624508950.0009156786Total2590.23764
74269CoefficientsStandard Errort StatP-valueLower 95%Upper
95%Lower 95.0%Upper
95.0%Intercept0.0030916170.00189013451.63565983080.10313
01525-0.00063043840.0068136724-
0.00063043840.0068136724X Variable 1-
0.14861947790.1200939187-1.23752709140.2170165373-
0.38510858920.0878696333-0.38510858920.0878696333
Currenct Returns% ReturnDateBritish Pound to US DollarUS
Dollar to Norwegian KroneUS Dollar to Mexican PesoBritish
Pound to US DollarUS Dollar to Norwegian KroneUS Dollar to
Mexican Peso13-Jun-160.708.2718.841.82%1.18%0.89%6-Jun-
160.698.1818.680.28%-2.35%1.18%31-May-160.698.3718.46-
0.08%0.25%-0.32%23-May-160.698.3518.52-
0.50%2.26%1.17%16-May-160.698.1718.310.00%-
0.62%0.58%9-May-160.698.2218.201.78%2.50%5.84%2-May-
160.688.0217.20-1.25%-2.25%-2.13%25-Apr-160.698.2017.57-
1.46%-0.16%0.79%18-Apr-160.708.2217.43-0.31%0.22%-
1.31%11-Apr-160.708.2017.660.24%-1.59%1.01%4-Apr-
160.708.3317.49-0.04%-1.21%0.24%28-Mar-
160.708.4317.440.77%0.23%0.12%21-Mar-160.708.4117.42-