Newspaper and Credibility Essay Example for Free

Newspaper and Credibility Essay In logic and rhetoric, a fallacy is usually an improper argumentation in reasoning often resulting in a misconception or presumption. Literally, a fallacy is an error in reasoning that renders an argument logically invalid It is important to use relevant, accurate, and reliable sources in a research paper. What do you need to consider when searching for useful sources? How do you know when sources are reliable? What are some warning signs that indicate you should avoid a particular source? If biases or fallacies are part of the source material that you want to use, how do you manage this issue? Sites which have org, . gov, .edu, as opposed to .com, are all sites that are usually credible sources. I frequent both the University of Phoenix website and Facebook. UOPs website is certainly credible vs. Facebook, not a credible site, which I mostly use to keep in touch with my family in California and Hawaii.Credibility with online sources is being a reviewed and published source, and example of a non-credible source is wikipedia because anyone can go in and change the sources of information. In order to verify the credibility of online sources, you can ask yourself the following questions. Does the author of this article have enough credentials or knowledge about this topic? Does the author subject his/her works to peer reviews? Is the information on this article updated or the latest? Does the site include information on how often the site is updated? Is a copyright date listed? Credibility doesnt matter in fiction. My space ship can fly at 1,000 times the speed of light and nobody cares. Credibility always matters in non-fiction. Even when looking for support for an opinion, it is important to consider the source. Credibility is most important if you want people to know that you are dependable and reliable and your word is good. If you say you are going to do something,they know it will be done and it is less important if you do not care what people think of you. For example:Your car is not running and buddy one says he will be over in the morning at 9 am to fix it for you and then never shows up. Buddy #2 says he will be over at 9 am and shows up at 8:30 am with tools in hand. Now which one of these two do you want to associate with? Advertising has a clear money-making agenda. But bias is prevalent in everyday situations, too. One way to better understand the difference between fact and opinion is to read the news in your local newspaper and then again in the tabloids. Watch what words are used in each one. See how many facts you can spot in each story. How do they differ? Demographic factors affect views toward advertising (Shavitt et al., 1998) as do endorser and corporate credibility (Lafferty Goldsmith, 1999) and an individual’s attitude â€Å"to a particular media product within a particular medium† (Bryant Thompson, 2002, p. 289). Attitudes toward advertising differ depending on gender, age, education, income, and ethnicity. The attitudes of males, consumers between the age of 18 and 34, consumers with less education and income, and non-Whites are generally more favorable toward advertising (Shavitt et al., 1998).The credibility of an advertiser also plays a role in how people view advertising. Any bias that a source holds may not always be directly stated; sometimes it is implied by only presenting one side or viewpoint of a topic. Some people believe that the media controls the world; I feel this claim has merit. Many people do not question information reported on the news, because what would the media gain by exaggerating a story or only presenting one side? One must keep in mind that the media is run by ratings; sensational stories make for great ratings. This is where thinking critically can be your best ally. Even a seemingly impartial source could have a hidden agenda. The vital factors that influence credibility of newspapers are the decline in newspaper sales, advertising, ownership of the newspaper agencies, and inaccuracy. The severe competition for magazine sales also causes magazines to exaggerate or misconstrue their stories. Other factors that can affect the credibility of magazines are the journalists. There are various genres of television programming. Television programming can vary form news to cooking shows. TV programs also exaggerate and over sensationalize their stories to grab the attention of viewers. Between television programming are advertising. In a sense, TV programs are basically a means to get people to watch commercials (Cyber College Internet Campus, 2007, paragraph 8). These factors of advertising and the competition for viewers affect the credibility of television programming. Factors that influence internet credibility are trustworthiness and expertise. Does the source have good intention? Is the source honest and unbiased? Is the author an experienced professional on the sources topic? Another factor, that influences the credibility of the internet, is that anyone can post her or his own website. They can claim that the website is trustworthy. Thus, it is vital that one evaluates the sources taken from the internet. Advertisers use various methods to persuade the public to purchase their products or services. Advertisers know how to make their products and services appealing without sufficient information. Advertising is designed to generate a need to buy certain brand-name products, which may be more expensive than lesser-known brands, while not being significantly better (Cyber College Internet Campus, 2007, paragraph 8). The fact that advertising will fallaciously depict or appeal to one emotions to sell a product is the most essential factor that affect credibility. I personally feel printed resources to be more credible. People increasingly rely on Internet and web-based information despite evidence that it is potentially inaccurate and biased. Newspapers, books, magazines, and television all undergo certain levels of factual verification, analysis of content, and editorial review, whereas Internet information is subject to no such scrutiny. Internet sites that parallel their print counterparts, such as major newspapers and periodicals, invoke the same editorial processes as their print forms, but they constitute only a small portion of the information available over the Internet. More people are turning to the internet because it is more of a convenience factor in my opinion. I stumbled across a study conducted on the credibility of printed resouces vs.online. I found it to be very interesting. Here is the link for those that are interested. http://com.miami.edu/car/miamibeach1.htm

Leadership in healthcare

Leadership in healthcare Student Number: 3226029 AHP_6_011 Leadership for Allied Health Professionals At the opening ceremony of the Singapore Healthcare Management Congress 2013, Singapore Health Minister Gan Kim Yong said that strong management capabilities and leadership quality in the healthcare sector are extremely crucial to lead the growing healthcare needs of an ageing population, constant threat of global pandemics and rising non-communicable diseases. There is a need to constantly innovate and find ways to keep the population healthy and deliver the healthcare services more effectively (Gan, 2013). â€Å"One of the things that a leader needs to learn is that the traditional models of leading change are not very effective.† (Kent, 2014). The context for healthcare is changing due to changing expectations, changing disease profile and greater emphasis on ‘predict and prevent’ (Hartley, et al., 2008). Definition of Leadership Leadership in healthcare can be viewed in many different ways. Clinical leadership can come from hands-on care, from maintaining clinical expertise and may sometimes be separated from management with the goal of leading staff through transformational change to develop better services for the local community (Bishop, 2009). In the recent years, leadership is seen as something to be used by all but at different levels (National Leadership Council (NLC) Clinical Leadership workstream, 2011). It can be described to be a team effort (The Kings Fund, 2012) or also known as â€Å"sharedness† of leadership processes (Wang, et al., 2013) in an organisation. Shared leadership is displayed in terms of mutual influence, shared responsibility among the staff and leading each other towards the goal achievements. Shared leadership expands the extent of leader prototypicality (Wang, et al., 2013) as team members are given a chance to take on decision-making process and leadership role. â€Å"Gone is the heroic individual with a monopoly on the vision; it is replaced by a commitment to building shared visions with a range of stakeholders.† (The Kings Fund, 2012). Wang, et al., (2013) divided shared leadership into 3 categories which are shared traditional leadership, shared new-genre leadership and cumulative, overall shared leadership. The subgroups on the types of leadership under each category such as transactional, visionary and transformational leadership can be seen in Appendix A. Shared traditional leadership is where the leader uses methods such as contingent rewards towards staff to achieve team goals and satisfy staff’s needs (Wang, et al., 2013). Shared new-genre leadership emphasizes transformational, visionary and charismatic leadership which empowers the staff towards development and change (Wang, et al., 2013). Cumulative, overall shared leadership is displayed within the team level, in which each individual team member demonstrate a degree of leadership. Importance of leadership Leadership is important as it can determine the functionality of a basic team unit as it strongly influences key team processes. It can determine and clarify the objectives of the team, giving the team a clear view on the goals and the pathways to take to achieve the goals (Hartley, et al., 2008) such as improving patient experience and outcome (NHS Institute for Innovation and Improvement, 2011). Having leadership can encourage participation from the staff, allowing the staff to contribute and pool great ideas, supporting innovation in the team. It also enhances the commitment to quality, as having a leader ensures primary quality objectives are met in the day to day workings within the staff (Hartley, et al., 2008). Guidance to the changes in the healthcare in many aspects There are many aspects of healthcare that are constantly changing such as new techniques and technologies in healthcare. As such, there is a constant need to find new ways of working within and across teams, and with patients (Hartley, et al., 2008). Therefore, strong leadership that support a vision for change with a clear articulation of what needs to be achieved, by whom and with what, would likely to succeed in healthcare organisations (Gifford, et al., 2013). Leadership is also crucial when it comes to finding new approaches to continuous improvement which rely a lot on ‘people management’ (Hartley, et al., 2008). Bishop, (2009, p. 83) stated that leadership in Allied Health is no longer just about ‘managing’ the service and being a ‘therapy lead’, it is about leading the staff and the service to a new position. To achieve this, clinical leaders such as nurse educators, clinical nurse specialist and practice developers are to influence research use through their roles in mentoring, providing information and assisting in the development of policies and procedures to support professional practice (Gifford, et al., 2013). Leaders have to constantly think of methods to support staff so as to make and sustain improvement efforts in order to improve service to the patient. This is important because patient’s expectations have increased as the healthcare industry develops over the years. Future-looking system There are new challenges in healthcare such as the kinds of illnesses or even trends are changing (Hartley, et al., 2008). Leadership is important to anticipate rather than just react to changes in demographic and disease profiles (Hartley, et al., 2008). Leaders have to anticipate the multiple diseases associated with a larger elderly population and chronic diseases due to lifestyle choices such as obesity. For example, the rising numbers of cancer cases in Singapore as reported in The Straits Times (Lai, 2014) was made known to awareness among the public. Networking Gantz, et al., (2012) stated that collective leadership complements healthcare globalisation. They recognised healthcare globalisation as a way to close disparity gaps and improve public health on a global scale through resource and information sharing. There are new health goals where ‘treatment’ is not the only goal now but also ‘predict and prevent’ illnesses for the public health (Hartley, et al., 2008). As such, there are more hospitals that network with each other and disseminate evidence-based practices throughout their regional and local communities (MacPhee, et al., 2013). Therefore, leadership is important to shape these new goals and to ensure that there is a close link between ideas and practice on the front-line and between different partners. Clinical decision making According to Hartley, et al., (2008), leadership clarity is associated with better team processes, and with actual innovation – and ambiguity about leadership was associated with low levels of innovation. This corroborates the view of the role of leadership in helping to create compelling direction and ensure participation of team members in decision-making (Hartley, et al., 2008). One of the thing that a leader needs to do is to make good decision based on in-depth understanding of all the constituent parts, all the tradition and cultures that accompany the existing professional structures and values (Bishop, 2009, p. 83). Therefore, it is important for a leader to have good decision-making skill so as to have a smooth efficient workflow and quality service. In Singapore’s healthcare setting, although the decisions made are largely based on the patients’ choice, their family members still exercise significant influence over the level of revelation of prognosis information and final action taken (Foo, et al., 2012). Familial-centred approach is common in Asian setting especially if it involves poor prognosis. As such, a leader in this situation has to consider the various views and make a final decision that gives the best outcomes for the patient and family, even if it means that they have to withhold information about patient’s expected poor clinical outcomes to the patients (Foo, et al., 2012). Good decision-making is achieved based on the good understanding of the culture and tradition of the context. The need for decision-making may arise at any one point while in a clinical setting. For example, the below anecdotal incident (see Appendix B) about clinical decision-making is analysed using Gibb’s reflective cycle (Waugh, 2013) (see Appendix C). The incident is about a disagreement I had with a senior colleague about him deviating from the treatment protocol regarding the verification of the treatment area. I felt frustrated that I was the only one wanting to do the right thing and find a solution despite voicing out my concerns. After the incident, I felt sad and unjust that my colleague was angry at me for refusing to proceed with the treatment. The positive experience was that my decision prevented an incident report and an inaccurate delivery of radiation dose. I stepped out of my comfort zone and voiced out my concerns to the oncologists. Conversely, my long decision-making time resulted in a queue of patients and delayed appointments. According to the Fielder’s contingency model (see Appendix D), I am a task-oriented leader, and the incident calls for a leader with a low Least-Preferred Co-Worker (LPC). As such, I’m a fitting leader for the task as I handled the situation which prevented errors from being made in the treatment. On the whole, I took a long time to make my decision waiting for my colleague to share his opinions, which turned out to be fruitless. Such disagreements can be avoided if there are mutual understanding and better treatment protocol knowledge. I should have sought assistance from the other seniors right away. After the incident, we had a discussion on the treatment protocols, directing more focus on the importance of protocols and the adherence to them should any similar incidents occur in the future. Future leadership Nobody stays stagnant in the workforce. For example, a radiation therapist from North Carolina realised that he needed more leadership skills when he progressed from the treatment aspect to administration and then managing (Robert Wood Johnson Foundation, 2013). The King’s Fund (2012) refers to leadership as a ‘cognitive catalyst’, where the leader’s choice of actions and ideas are focused on as learning points in order to spur learning in the work place by the other team members. In order to change an organisation, leaders need to change themselves first and be open to changes. â€Å"If our leaders grow and help others to grow, our organisation will not only succeed in their changes efforts- they will be an example for other leaders and organisations around the world.† (Kent, 2014). More leaders are required in Singapore because the healthcare service is expanding rapidly so as to cater for the aging population (Bishop, 2009). As such, the Ministry Of Health Singapore has launched a SingHealth Graduate Diploma in Healthcare Management and Leadership programme in Singapore Management University. It aims to groom a new generation of healthcare professionals who excel in both healthcare management and business leadership which is a skill that is high in demand in today’s evolving healthcare industry (Gan, 2013). Additionally, the Ministry Of Healthcare has also provide sponsorships such as the Healthcare Administration Scholarship (HAS) where outstanding scholars will be given opportunities to be developed for top leadership position within the public healthcare sector (MOH Holdings Pte Ltd, 2013). Competency frameworks have also become a widely used approach to thinking about the skills of leadership. For example, the healthcare in UK are using the NHS Leadership Qualities Framework (see Appendix E) (National Leadership Council (NLC) Clinical Leadership workstream, 2011). It sets out the key skills or competencies for leaders in healthcare (Hartley, et al., 2008). Leadership skills are seen to be very important in the healthcare industry worldwide so much so there are many studies and programmes to train future leaders to meet the demands of the ever changing and growing industry. 1

al capone Essay -- essays research papers

Organized crime was not so organized up until the 1920s. When the 1920s arrived, the American lifestyle changed dramatically. People started investing money in home appliances and automobiles, women’s skirts became higher and drinking became very popular. Also, organized crime came to a rise in the 1920’s. And in the high ranks of organized crime was Al Capone. Al Capone ran many illegal businesses including bootlegging, gambling, prostitution, and murders. There were many gangs in the world of organized crime and Al Capone’s was at the top. Al Capone was the most infamous gangster in the 1920’s. Being a big time gangster was big business. Money was made fast and very easily. Bootlegging alcohol was by far the most profitable in the 1920’s, this was because of the prohibition. Gambling was another business that paid off. Gambling stations were set up all over cities. Prostitution and Murders were also crimes that made gangsters money. Alphonse Capone was the biggest force in organized crime. He started his career of crime in Boston, as an apprentice to Johnny Torrio. That is where he earned the unforgettable nickname â€Å"Scarface.† It was in a bar when Capone made some rude comments about a woman. Minutes later, the woman’s brother sliced Capone in the face. D. VanGorder 2 This man was a friend of Charles â€Å"Lucky† Luciano. Al Capone was punished and forced to apologize. Al Capone did not become a leader until he went to Chicago. At the time he was still an apprentice to Johnny Torrio. In the midst of the gang violence and bootlegging was Chicago. Chicago was a great place to start a ring of organized crime. The government was very weak which made it easier to do crime. Capone entered the city of Chicago in 1920. At the time, â€Å"Big Jim† Colosimo ran things. He made about 50,000 dollars a month. Torrio and Capone started their business with four gambling joints/whore houses in Chicago. These underground places were known as deuces. In Chicago Capone met a man who would be his friend for life, Jack Guzik. Guzik was Jewish. His family lived off prostitution. Al Capone never worried about racial issues, his wife was even Irish. After Jack Guzick was roughed up by a Joe Howard, Capone let out his temper. It did not help when Howard called Capone some rude names. Soon after, Capone shot him down. There was no conviction, it was clear that Capone was becoming more... ...n Capone was showing his superiority. As Alva Johnston said in the New Yorker D. VanGorder 6 â€Å"Chicago is the imperial city of the gang world and New York a remote provincial place.† The incident was known as The Adonis club massacre. Prohibition may have caused the highest crime rate ever in organized crime. Frankie yale was a longtime friend of Al Capone and Johnny Torrio. He was used in various hits including the murders of Dion O’banion and â€Å"Big Jim† Colosimo. In 1928 Capone found out that Yale had been hijacking many of his â€Å"booze† trucks. Soon after, Yale was shot down. No other single gangster could be as infamous as Al Capone. Al Capone was the most powerful gangster to ever live. No one could stop his reign of crime, and anyone that got in his way, he would take out, Even when it came to his friends. He was never convicted for any of the hundreds of crimes he committed, this is one of the most important facts that showed how many connections Capone had. It was until the 1930’s when Capone was convicted of Tax invasion. While serving his jail time Alphonse Capone became a victim of the deadly disease Syphilis. Al Capone died but his crime legacy will always live on.

Babylon Revisted :: essays papers

Babylon Revisted This Story was intriguing to me for several reasons. Fitzgerald gradually unwinds the plot, posing new questions as he goes. Charlie seems to be someone who has experienced the best as well as the worst in life and it has made him a stronger person. However, his time revisiting Paris proves how one’s past can come back to haunt you. It seems this might be a fairly typical story in the era of the stock market boom and the infamous crash. In this story Fitzgerald slowly shows the past of the main character, Charlie. He is obviously well educated and has been wealth at some point. He speaks of collage and communicates with elegance. Charlie gradually comes to speak of times when he threw away large sums of money for no reason other than entertainment. At one point he speaks of being treated like royalty with the other Americans partying in Paris. A page before that he tells how he spoiled Paris for himself, that the days went by without his knowing. This shows the diversity that the character represents. The darker sides of Charlie’s life are presented through another character, Marion along with her husband Lincoln. These people are related to him by marriage only and have custody of his daughter. Marion reveals the extent of Charlie’s drinking and the problems that arose out of his marriage to her sister, Helen. Marion says that she questions Charlie’s character when he asks to take his daughter, Honoria, home with him. I find this interesting because at one point he also questions his own character saying â€Å" he wanted to jump back a whole generation and trust in character again as the eternally valuable element. Marion seems to blame Charlie for the death of her sister almost goes far enough to accuse him of being involved saying, â€Å"How much you were responsible for Helen’s death I don’t know.† The story takes a turn when Charlie has finally convinced Marion to allow Honoria to travel home with him. As they make the agreements Charlie’s old friends, representing his past, show up at the home of Marion and her family. When they leave Marion rushes out of the room. Her husband claims that shock makes her physically sick. I think that Fitzgerald is trying to make the notion here that Marion is in no better state than Charlie has ever been in.

Saving The Animals? :: essays research papers fc

Saving the Animals? In Buffalo New York on October 23rd of last year, Dr. Barnett Slepian was murdered. He wasn’t killed because of his financial status or because of a dispute he had with a patient. Someone who never really knew Dr. Slepian, someone who never met his family, a person who didn’t agree with Dr. Slepian’s job, took his life. This is a great example to show how a disagreement in ideology can lead to actions that no one has the authority to take. An animal liberator bombing a meat processing plant is like the pro-life activist killing the doctor who performs abortions. Both of the actions don’t achieve the results that are intended, they both claim that they help save the lives of the innocent, and they are both hypocritical. The results that are wanted can not be achieved through causing pain and suffering to the opposing party. When a sniper took the life of Dr. Slepian he was trying to move the cause of pro-life forward. The end result was not what he had wanted; the medical community was outraged and the people who believed in the right to choose strengthened their resolve. This quote by Dr. Henry Morgentaler, the country’s best-known pro-abortion crusader, illustrates this point very accurately. "This is a sign of the moral bankruptcy of the so-called pro-life movement. It bespeaks their frustration and rage at the fact that they have not been able to convince the public of the rightness of their cause," (Cnn 2) The frustration that Dr. Morgentaler mentions is even further enhanced when the pro-lifers see that their cause is regressing from public empathy. The example of the murder of Dr. Slepian is a good analogy to what the bombing of the meat processing plant would cause. The people in the factory would be massacred and the people who don’t support the cause of animal liberation would be outraged. The intended result of lower consumption of animal meat would not be achieved because the pub lic would not see the righteousness of the cause; and where there is demand for meat there will be suppliers to meet the demand, this is a basic law of economics. Even if the bomber would bomb every single meat-processing plant in the country, intrepid businessmen would find ways to meet the demand in the country. Murder has always been an unacceptable action in modern society.

Principles of Modern Finance Sample Midterm

Principles of Modern Finance Spring 2013 Sample Midterm February 22, 2012 Instructions †¢ You have 1 hour and 40 minutes. †¢ The exam is out of 25 points. †¢ There are 22 multiple-choice questions. 19 questions are worth one point, 3 questions are worth two points and are marked as such. †¢ If you get stuck, move on and come back later. 1 1. A stock is expected to pay a dividend of $10 next year, and this dividend is expected to grow by 5% each year thereafter. What should the price of the stock be if instruments of similar risk are paying 12%? (a) $83. 33 (b) $142. 86 (c) $150 (d) $200 2. A project has the following cash? ows: Year 0 1 2 Cash? w +12000 ? 7080 ? 6654 The IRR of these cash? ows is 9%. Assets of similar risk pay 5%. Should you accept this project? (a) Yes (b) No 3. I am considering buying a Greek government bond that promises to pay $1210 in two years’ time. However, there is a possibility that the Greek government will default between now an d the promised payment. If the government does default, the bond will only pay $500. The probability of default is 0. 5. What should the price of the bond be if instruments of similar risk are paying 10%? (a) $1000 (b) $706. 62 (c) $413. 22 (d) $303. 68 4. I am enrolled in a 2-year MBA program, and have just started classes.To pay the tuition and living expenses, I borrow $50,000 per year (paid at the start of the year). The interest rate on the loan is 5%. I am certain to get a job at the end of the two years of study. That job will be guaranteed for ten years (from the date I start work), at a constant salary which will be paid at the end of each year of work. There are no taxes. I estimate that I will be able to save 1/4 of my income, whatever my income is. What is the minimum salary the job must have to allow me to pay o? my loans within ten years? (2pts) 2 (a) $43,050 (b) $50,000 (c) $55,752 (d) $61,339 5. A credit card company o? rs me a card with 20% APR, compounded daily. I make purchases of $3,000 on the card, and allow interest to accrue on those purchases for a year. Assuming each year has 365 days, the amount I will have to pay back is: (a) $3,315 (b) $3,600 (c) $3,664 (d) $3,901. 30 Answer the next two questions with reference to this information: Analysts argue that two things can happen over the next year: the economy can continue as it is or it can go into recession. The returns of two stocks: General Electric (GE) and Cisco (CSCO) in each possible state are given below: State Return on GE Continue as-is 15 Recession ? 5 Return on CSCO 5 -1 The analysts estimate the probability of continuing as-is to be 0. 8 , and the probability of a recession to be 0. 2. 6. What is the expected return on a portfolio which is 120% in GE and ? 20% in CSCO? (a) 10. 04% (b) 8% (c) 2. 55% (d) 0% 7. What is the variance of CSCO? (a) 1. 96%2 (b) 5. 76%2 (c) 13%2 (d) 23. 04%2 3 8. Alice can get a one-year loan at 5% at her bank, while no bank is willing to give Brad a one-year loan for less than 10%. Brad has just had surgery, and must pay the hospital $10,000 immediately, but he has no money today, though he will have money in one year. So Alice o? rs Brad a proposal: she will borrow $10,000 from her bank for one year on her own account, and Brad will repay this loan. In addition, he will pay Alice a sum of money today. What is the maximum amount that Brad should be willing to pay Alice up-front under this arrangement? Alice is not willing to consider borrowing more than $10,000. (2pts) (a) $454. 54 (b) $377. 18 (c) $476. 19 (d) $500 9. The risk-free interest rate today is 7%. One year ago, you bought an asset which is risk-free and would pay $100 two years from the date of purchase. The risk-free interest rate on the date of purchase was 10%. You sell the asset today.What is the rate of return (HPR) that you made? (a) 13% (b) 10% (c) 7% (d) 15% 10. The correlation between Alcoa (AA) and American Express (AXP) is 0. 3. You want to form a portf olio, investing 50% in each stock. What is the variance of your portfolio’s return? You have the following information: AA AXP 10 12 8 16 Expected return Standard deviation of return (a) 85. 76%2 (b) 99. 2%2 (c) 121%2 (d) 144%2 11. If you can get an 8% return (annual e? ective) on a ten year CD from your local bank, would it be wise to invest in a 10 year bond which promises to make a single payment of $1000 at the end of its life? Assume both are equally risky). This bond costs $475 now and will pay $1000 in ten years. 4 (a) Yes, the bond is better. (b) No, the bond is worse. (c) Can’t tell from information given 12. You are given the following information about portfolios of two risky assets, A and B: Weight in A Weight in B Std. dev. of portfolio 0 1 12 0. 5 0. 5 14 1 0 16 What is the covariance between A and B? (a) 192%2 (b) 168%2 (c) 224%2 (d) Cannot be determined 13. A ? rm in a well-functioning capital market has the following projects available. The risk-free r ate is 10%. Which should it invest in? NPV IRR X 10 15% Y 0. 3% Z -5 22% OCC 22% 5% 6% (a) X only (b) Z only (c) X and Y (d) X and Z (e) All three 5 14. You are considering investing in a bond. This bond costs $300 now and pays $550 in ten years. What is the IRR of this investment? (a) 1. 06% (b) 6. 25% (c) 8. 33% (d) 9. 01% Answer the next two questions using the following information: A project has the following expected cash ? ows. Year 0 1 2 Expected cash? ow ? 370 814 ? 447. 7 The IRR of these cash ? ows is 10%. 15. Which of the NPV functions on the following page best describes this project? (2pts) (a) Graph A (b) Graph B (c) Graph C (d) Graph D 16.Given your answer to the previous question, what is the range of discount rates for which you should accept this project? (a) 10% only (b) Greater than 10% (c) Less than 10% (d) Always accept, except at 10% (e) Always reject 6 NPV NPV 10% Discount rate 10% Discount rate Graph A Graph B NPV NPV 10% Discount rate 10% Discount rate Gra ph C Graph D 7 Answer the next six questions using the following information: Boeing is a very pro? table aeroplane manufacturer. It is considering building a facility to manufacture 747s on 10,000 acres in the Nevada desert. It is not considering any other sites.To encourage Boeing to set up the facility, the local chamber of commerce has bought the land and has o? ered to rent it to Boeing at a rent of zero dollars per year. Assume that this â€Å"gift† has no tax implications for Boeing. If Boeing were to try to rent the land in the open market, the rent would be $1,500 per acre per year, payable at the end of each year. Building the factory will cost Boeing $800M (800 million dollars), of which $200M is payable today and $600M will be need to be paid as soon as the factory begins production. It will take one year to build the factory and start production.The IRS says that the $800M cost can be depreciated (straight-line to zero) over the ? rst twenty years in which the fa ctory produces aeroplanes. However, Boeing expects that the demand for the 747 will eventually dry up, and so they plan to scrap the plant after the ? rst ten years of production. They expect the scrap will be sold for $100M. Boeing expects the facility to produce and sell three Boeing 747 aeroplanes a year, with the ? rst batch ready by the end of year 2. Raw materials cost $100M per plane, and labour costs will be $120M a year. Labour costs will be paid at the end of the year in which they are incurred.Raw material will be paid for one year late (i. e. , raw material costs incurred in year 2 will be paid at the end of year 3). Sales will be paid for two years late. Inventory is always 0. The price Boeing will receive for each plane is uncertain. It might be as high as $500M, or as low as $200M. Most likely, the price will be $400M. On average, the price they expect to receive is $350M. Boeing’s corporate o? ce is located in Chicago. Currently the CEO and his sta? make 120 ? ights a year in the corporate jet. Each ? ight costs $200,000. If the Nevada facility is built, the CEO will have to make ten more ? ghts a year, starting in the ? rst year of production, with the cost per ? ight being the same. The cost of the ? ights is incurred at the end of year in which the ? ights are made. The salary of the CEO will remain ? xed at $12m per year. However, the corporate o? ce has decided to allocate $1m per year of this cost to the Nevada project, should it be built, starting at the end of year 2. This allocation has no tax implications. Boeing has another project which they wanted to start today. This project has a single after-tax cash in? ow of $20 million one year after it is started (and no other in? ws or out? ows). Building the factory in Nevada will occupy executive time, and mean that Boeing will have to delay starting this project until the Nevada factory begins production. Taxes are expected to be 30%. The discount rate is 8%. 8 17. When calculatin g cash ? ows for NPV, the revenue in the income statement at the end of each year of production will be (a) $600M (b) $1050M (c) $1200M (d) $1500M 18. The expected cash ? ow the ? rm obtains from scrapping the plant after ten years of production is (a) $70M (b) $90M (c) $100M (d) $190M (e) $280M 19.The cost that you will show in the income statement for each year of production will be: (a) $420M (b) $422M (c) $423M (d) $438M 20. What is the working capital at the end of the second year of production? (a) ? $300M (b) $750M (c) $1050M (d) $1800M 21. What is your net cash ? ow two years after the plant has stopped producing, that is, at the end of year 13? (a) $0 (b) $735M (c) $750M (d) $1050M (e) $1800M 9 22. The PV today of the opportunity cost from delaying the other project is: (a) $20M (b) $18. 52M (c) $17. 15M (d) $1. 37M 10

Operations Management Cds

Not only new machines gave high radioactivity, it allowed production costs to be low and CDC targeted smaller molding companies. New large multi-cavity molding machines used I Small injection molding machines meant small variety of products could only be materiality of products can be made at short notice Variety of products can be made at short notice Although production becomes flexible, the drawback of this Is the complexity of changing moulds on large machines that leads to a prolonged process.Trading Is stable and production process becomes more of routine work. I Variation is high as they have same contracts to take orders so they know what's products was good and distribution channels were excellent. Distribution channels re good but cost has incurred in express delivery made by CDC instead of customer. Distribution channels are good but cost has incurred in express delivery made by CDC instead of customer.I Having problems of getting use to sub-contracting and recognizing on what ‘standards of quality there should be in their products I According to the ‘Four Vs.' analysis and Hayes and Wheelwright's four stages of operational contribution (shown in appendix 1), CDC have moved from ‘stage 2' that is Externally Neutral to ‘stage 3' of being Internally supportive by implementing a new strategy from moving from focus products to concept products. CDC were already popular with focus products so their previous operations were giving a fair contribution to the organization.The Volume' in the four Vs.' analysis has increased operational capabilities but to a certain extent as there still is a drawback of no planning in sale forecasts and production time wasted in changing moulds. Each area in the ‘Four Vs. analysis is what actually contributed in CDC to implement a new strategy. Operations taking place at CDC allow CDC to build upon their ‘stage 2' strategy according to Hayes and Wheelwrights four stages (see appendix 1). Po sitive factors such as increase in productivity and wide variety of products leads to more outputs and results in increase in profit margins.Without the operation strategic change their productivity would not be ‘600%' higher. According to Hayes and Wheelwright CDC are trying to ‘implement' the best practice they can find by keeping production costs to a minimal but also producing large volumes efficiently. CDC should to this extent stay on the ‘stage 3' strategy as they have to be also wary of the external operations taking place such as the competitors in the market. There has o be an understanding with where the market is going and assess its operation performance objectives at a regular level internally and externally.