Essays --

The story begins in the year 1984 in the nation of Oceania. Winston Smith is a low ranking Outer Party member working for a government system called the Party. The Party and it’s omniscient leader known as Big Brother, control everything including language, history, and it’s citizens. Everywhere Winston goes, he is being monitored by the Party through telescreens and by the Thought Police. The most recent implementation of the Party’s control over the nation has been the creation of Newspeak, an attempt to prevent political rebellion by eliminating all words that relate to it. Rebellion is the ultimate crime a citizen can commit, and even thoughts about rebellion are illegal. While working in the Ministry of Truth, a branch of the Party that controls and alters history, Winston begins to question the validity of the Party and it’s doctrines. He wishes for privacy and freedom but cannot express these feelings without fear of the Thought Police, who patrol thoughts and punish people who think poorly of the Party or it’s leader. In order to escape the Party’s tyranny, at least in his...

Nordstrom Financial Statement Analysis

NORDSTROM (JWN) I. Nordstrom’s overview Nordstrom is classified as an Upscale Independent Department Store Chain and is noted as one of the largest department stores of its type. Nordstrom is founded in 1901 by two partners, John W. Nordstrom and Carl F. Wallin. It’s headquarter is in Seattle, Washington area. Nordstrom carries a wide variety of merchandise and specialty goods, which includes apparel, shoes, jewelry, cosmetics, fragrances, handbags, accessories, and in some locations, home furnishings. Nordstrom is dealing with competition on many different levels.It is competing with higher end stores such as Neiman Marcus and Saks Fifth Avenue. In addition, it is also competing with second tier stores such as Macy’s, Dillard’s, and Bloomingdale’s. Dealing with diverse competition, upscale retailer Nordstrom has been famous for superior customer service for over 100 years and has been recognized on every 100 Best Companies To Work For list publishe d in Fortune magazine since 1998. Nordstrom operates over 200 retail locations across the country with worldwide revenue $10. 9 billion in 2011.It has two reportable segments: Retail and Credit. The Retail segment includes 115 ‘Nordstrom’ full-line stores, 89 off-price ‘Nordstrom Rack’ stores, two ‘Jeffrey’ boutiques, and one clearance store that operate under the name ‘Last Chance. ’ Nordstrom full-line stores and online store are substantially integrated to provide customers with a seamless shopping experience across channels. The Nordstrom Rack stores purchase high-quality name brand merchandise directly from vendors and also serve as outlets for clearance merchandise from Nordstrom stores.The Credit segment includes wholly owned federal savings bank, Nordstrom FSB, through which Nordstrom provides a private label credit card, two Nordstrom VISA credit cards and a debit card for Nordstrom purchases. The credit and debit cards fe ature a shopping-based loyalty program designed to increase customer visits and spending. Although the primary purpose of our Credit business is to foster greater customer loyalty and drive more sales, Nordstrom also generate revenues through finance charges and other fees on these cards.In retail department stores, consumer’s purchases are made within each department because each department is treated separately to achieve economies in promotion, buying, service, and control. Instead of categorizing departments by merchandise, Nordstrom created fashion departments that fit individual lifestyles. The retailer's best customers benefit from Nordstrom's â€Å"Perpetual Inventory† initiative, which provides the â€Å"right product, at the right place, at the right time. Nordstrom’s customer service is superior in that they put maintaining a customer relationship their top priority. It‘s main goal is to provide outstanding service every day, one customer at a time, and support the employees who deliver service to those customers. Each Nordstrom employee has a business card, which he or she gives to customers, to encourage them to reach back directly if they need anything. In addition, Nordstrom spends much less on traditional advertising than its competitors do, and to Nordstrom, â€Å"satisfied customers are much more persuasive than an ad†.Its legendary customer service is a competitive advantage that can't be easily duplicated, and the company spends a lot of time, money, and effort training employees to maintain that distinction. Even in times of economic distress, Nordstrom still maintains an unwavering commitment to making choices that are in the best interest of the customer. Therefore, Nordstrom keeps growing and maintains a great financial result in comparison with other department stores. Nordstrom business strategies are: 1. Maintaining good relationship with vendors and consumers 2.Maintaining good relationship with em ployees and providing effective training to them to develop future leaders 3. Expanding into new markets, technological investments, acquisitions and the timely completion of construction associated with newly planned stores, relocations and remodels. 4. Having effective inventory management; efficient and proper allocation of capital resources; successful execution of information technology strategy; and effective cost control in advertising, marketing, and promotion campaigns. 5.Managing debt levels to maintain an investment grade credit rating as well as operate with an efficient capital structure for its growth plans and industry II. Company financial ratio analysis: 1. Liquidity: Liquidity:| 2011| 2010| 2009| 2008| 2007| Current Ratio| 2. 16| 2. 57| 2. 01| 2. 01| 2. 06| Cash Ratio | 0. 73| 0. 80| 0. 39| 0. 04| 0. 22| Cash Flow from Operations Ratio| 0. 46| 0. 63| 0. 62| 0. 53| 0. 19| Overall regards to liquidity ratios, the higher the number the better; however, a too high also indicates that the firms were not using their resources to their full potential. Current ratio of 1. or greater shows that a company can pay its current liabilities with its current assets. JWN’s ratio increased from 2. 06 in 2007 to 2. 57 in 2010, and slightly decreased to 2. 16 in 2011. JWN’s cash ratio increased significantly from 22% in 2007 to 80% in 2010. JWN has a cash ratio of 73% in 2011, which is useful to creditors when deciding how much debt they would be willing to extend to JWN. In addition, JWN also has moderate CFO ratio of 46%, indicating the companies’ ability to pay off their short term liabilities with their operating cash flow. There was a great improvement in JWN’s liquidity ratios over the past 5 years.In general, JWN has efficient liquidity ratios which allow the company to cover its seasonal cash needs and to maintain appropriate levels of short term borrowings. 2. Activity: Activity| 2011| 2010| 2009| 2008| 2007| Inventory Turno ver| 6. 20| 6. 29| 5. 93| 5. 84| 5. 66| Avg. # of Days Inventory| 58. 83| 58. 03| 61. 59| 62. 53| 64. 50| Receivables Turnover| 5. 06| 4. 51| 4. 16| 4. 60| 7. 35| Working Capital Turnover| 3. 67| 3. 89| 4. 52| 5. 13| 5. 98| Fixed Assets Turnover| 4. 54| 4. 25| 3. 70| 4. 08| 4. 86| Total Assets Turnover | 1. 36| 1. 38| 1. 35| 1. 52| 1. 74| Length of Operating Cycle| 130. 9| 138. 87| 149. 38| 141. 93| 114. 18| I Inventory turnover shows how efficient a firm can keep its inventory turning at a steady flow from the manufacturer to the store and out to the consumer. Therefore, the higher the better because this means the firm is getting its inventory out to consumers at a more efficient pace. JWN’s inventory turnover is approximately the same in 2011 than in 2010, 6. 20 and 6. 29 respectively, which has slightly higher the number of days inventory from 58 days to 59 days. Same as inventory turnover ratio, AR turnover show how efficient a firm is at collecting its receivable.The fa ster a firm can collect its receivables, the better. JWN’s AR turnover has increased from 4. 78 in 2010 to 5. 36 in 2011. An increase in both inventory and AR turnover reduces the Length of Operating Cycle from 139 days to 131 days. In addition, there is also a good sign when JWN’s fixed asset turnover and total asset turnover increase. In general, JWN has ability to predict or respond to changes in fashion trends, consumer preferences and spending patterns, and to match its merchandise levels, mix and shopping experience to sales trends and consumer tastes, significantly impacts its sales and operating results. . Profitability: Profit| 2011| 2010| 2009| 2008| 2007| Gross Margin | 0. 39| 0. 39| 0. 36| 0. 37| 0. 39| Return on Sales| 0. 06| 0. 06| 0. 05| 0. 05| 0. 08| ROA | 0. 09| 0. 09| 0. 07| 0. 07| 0. 14| ROE | 0. 34| 0. 34| 0. 32| 0. 34| 0. 44| Upon evaluation of the operating efficiency, Gross profit margin, Return on sale, ROA, and ROE, JWN did a pretty good job du ring the fiscal year ended Jan 28th 2012. Gross profit margin, the net profit margin, ROA, and ROE have the same rate for 2011 and 2010, which are 39%, 6%, 9%, and 34% respectively. By evaluating JWN’s profitability ratio, JWN once again is upward looking.ROA is a comprehensive measure of profitability, taking into account how a firm’s assets and profits are used to create future profit. ROE is a profitability measure and is influenced by the affiliation between a firm’s debt and its owner’s equity. JWN has done an extraordinary job at maintaining moderate ROA and ROE ratio over 5 years period. Analyzing JWN’s profitability ratio shows that JWN should continue being profitably in the future. 4. Leverage: Leverage| 2011| 2010| 2009| 2008| 2007| Total Liabilities / Total Equity| 3. 34| 2. 69| 3. 19| 3. 68| 4. 02| Total Liabilities (BV) / Equity at Market| 0. 7| 0. 48| 0. 44| 0. 39| 0. 39| Times Interest Earned| 9. 61| 8. 80| 6. 04| 5. 95| 16. 85| As firm’s debt grows larger, debt to equity ratio in turn increases. Debt to equity ratio is an important factor in considering a firm’s credit risk. JWN’s debt to equity ratio increases 25% from 2. 69 in 2010 to 3. 34 in 2011. If this ratio decreases, there is less leverage within the firm. The increase in debt to equity ratio is due to the increase in long term debts and the decrease in total stockholder equity. Times interest earned ratio is a coverage measure; an increase has a positive impact on the firm.There was a significant decrease in Time interest earned ratio from 16. 85 in 2007 to 5. 95 in 2008. However, this ratio increased slightly over years. JWN’s Times interest earned has increased from 8. 80 in 2010 to 9. 61 in 2011. Ultimately, JWN generate more than enough income before interest and tax to cover for its interest expense. 5. Market related statistics: Like many luxury stores, Nordstrom has seen its sales rebound since late 2009 as well-he eled shoppers have become more comfortable with spending, despite volatility in the stock market.Nordstrom also has worked hard to make it easier to shop by adding Wi-Fi access for shoppers at all of its full-line department stores, offering free shipping on most items without any minimum purchase in September 2010, and fusing its online and in-store inventory systems so shoppers can find out online what's in stock at any given store in the chain. Nordstrom said it expects revenue at its stores open at least a year to rise 4 percent to 6 percent in the current full fiscal year, and it expects to earn $3. 30 to $3. 45 per share.JWN analyzes its dividend payout ratio and dividend yield, while taking into consideration its operating performance and capital resources, and plans to target a 25% to 30% dividend payout ratio in 2011. JWN has increased its dividend payout ratio and its dividend yield in 2011, 29% and 1. 9 % respectively. JWN paid dividends of $0. 92 per share in 2011, $0. 7 6 per share in 2010, and $. 64 per share in each of 2009 and 2008. 6. Quality of financial information Nordstrom uses a more moderate strategy when it comes to its accounting policies.It basically uses similar basic standards as other firms in the industry. Management and select employees of Nordstrom receive stock options and bonuses based on how profitable and how much growth the company is, which may lead to intentional accounting distortion to increase these benefits. Although distortion would be beneficial to management, the standards used by Nordstrom to account for stock issued to employees seem well disclosed and straight forward. Compared to the accounting policies and estimates used in the past five years, Nordstrom has not significantly changed any of its accounting standards.Estimates such as returns are based on past returns and performance and have not altered much in recent years. Nordstrom’s uses its historical data to estimate future performance for the use o f the inventory account. Nordstrom’s accounting policies and estimates seem to have no significant distortions. The changes in policies are well recorded and explained in the footnotes, leaving no concern about their accounting policies. The changes in policies accounting standards and estimates all seem to be legitimate. The manner in which Nordstrom discloses their financial information to the public is of extremely high quality.Nordstrom exceeds their expectation of providing customers and shareholders with an adequate explanation for nearly every element of their finances. After the presentation of each financial statement, Nordstrom provides a detailed clarification concerning each component listed in a manner that could be easily interpreted by the common inquirer. In general, Nordstrom effectively communicates their activities with their investors and are relatively free of unpredictable or unexplainable transactions. III. Comparison to the industry average and another store (Dillards)Liquidity:| JWN| DDS| Industry| Rating-JWN| Current Ratio | 2. 16| 1. 83| 1. 15| 8| Cash Ratio | 0. 73| 0. 26| 0. 12| 8| Cash Flow from Operations Ratio | 0. 46| 0. 58| -| -| Leverage|   | Total Liabilities / Total Equity| 3. 34| 1. 10| 1. 33| 4| Total Liabilities (BV) / Equity at Market| 0. 57| 0. 72| 0. 17| 4| Times Interest Earned| 9. 61| 5. 83| 7. 41| 7| Activity|   | Inventory Turnover | 6. 20| 3. 12| 6. 14| 6| Avg. # of Days Inventory | 58. 83| 117. 12| 59. 45| 6| Receivables Turnover | 5. 06| 232. 73| 22. 91| 3| Working Capital Turnover| 3. 67| 8. 88| 40. 9| 3| Fixed Assets Turnover| 4. 54| 2. 54| 6. 06| 4| Total Assets Turnover | 1. 36| 1. 47| 1. 91| 4| Length of Operating Cycle | 130. 98| 118. 69| 75. 38| 3| Profit|   | Gross Margin| 0. 39| 0. 37| 0. 29| 6| Return on Sales| 0. 06| 0. 07| 0. 06| 5| ROA| 0. 09| 0. 11| 0. 11| 5| ROE | 0. 34| 0. 22| 0. 25| 6| Both JWN and DDS maintained an efficient liquidity ratio which allowed them to cover their season al cash needs and to maintain appropriate levels of short term borrowings. DDS do not generate as much profit as JWN but it also has much lower leverage ratio than JWN.JWN has much higher debt to equity ratio than the industry average. However, its Time Interest Earned ratio is better than the industry. JWN’s activity ratio seems to be better than DDS, but below the industry average. JWN’s Beta is 1. 57 which theoretically indicates 57% more volatile than the market. DDS’s Beta is 2. 53 which is . 96 higher than JWN’s Beta and also means more volatile than the market. A beta of greater than  1 offers the possibility of a higher rate of return, but  also poses  more risk. In addition, JWN also has much higher dividend payout ratio and dividend yield than DDS.In general, JWN has higher rate of return and less volatile than DDS. JWN has higher dividend yield and lower dividend payout ratio than industry average. The growth and income pick pays an indus try-leading dividend yield of 1. 90%. Its ROE and Net profit margin are also higher than the industry average. Nordstrom clearly has a higher return than its competitor and is likely to be more profitable than its competitor and industry. In comparison with DDS and the industry average, it is apparent that there are no concerns with the accounting for the components of JWN ratios.JWN was consistently somewhat outperformed its competitor and the industry average. In its industry, JWN is apparently a leader in utilizing its capital to create value for the firm, creating profits, and increasing shareholder value IV. Growth in revenue and income Year| Revenue| Net income| 2011| $10,877| $683| 2010| $9,700| $613| 2009| $8,267| $441| 2008| $8,573| $401| 2007| $9,080| $715| 2006| $8,666| $678| Statistics|   | JWN| YoY growth in revenues | 2011| 12. 13%| YoY growth in net income| 2011| 11. 42%| YoY growth in revenues| 2010| 17. 33%| YoY growth in net income| 2010| 39. 00%|YoY growth in re venues| 2009| -3. 57%| YoY growth in net income| 2009| 9. 98%| YoY growth in revenues| 2008| -5. 58%| YoY growth in net income| 2008| -43. 92%| YoY growth in revenues| 2007| 4. 78%| YoY growth in net income| 2007| 5. 46%| YoY growth in revenues| (Average)| 12. 13%| YoY growth in net income| (Average)| 11. 42%| Nordstrom generates revenues from its credit segment, which consists of a wholly-owned federal savings bank that offers Nordstrom VISA credit and debit cards, and a private label card. Nordstrom also profits from its Faconnable boutiques located in France, Portugal, Belgium and the U.S. The remaining revenues are brought in by the retail store segment; the stores specialize in high quality apparel, shoes, cosmetics, and accessories. Nordstrom also sells direct via the internet at www. nordstrom. com. JWN’s revenue for 2011 increased 12. 7% compared with 2010 driven by the strength of Nordstrom full-line stores, rapid growth in its online business and improving results a t Nordstrom Rack. JWN opened three Nordstrom full-line stores, eighteen Nordstrom Rack stores and one Treasure & bond store, relocated two Nordstrom Rack stores, and acquired HauteLook during the year 2011.These additions represented 4. 0% of its total revenue for 2011. Same-store sales increased 7. 2%, with increases of 8. 2% at Nordstrom and 3. 7% at Nordstrom Rack. Nordstrom’s revenue was in a range of $8 billion to 11 billion from 2007 to 2011. There was a slightly decrease or increase in revenue over 5 years period. Nordstrom’s net income was in a range of $401 mil to $715 mil. There is a significant decrease in 2007 net income. It went from $715 mil to $401 mil, which is approximately 44% decrease in net income.However, its net income increased dramatically in 2010, from $441 mil in 2009 to $613 mil in 2010, which is nearly 40% increase in net income. In order to predict an accurate forecast for Nordstrom’s Income Statement, Statement of Cash Flows, and Ba lance sheet, a sustainable growth rate is needed. After examining Nordstrom’s past performance and computing past growth rates on Nordstrom’s financial, Nordstrom has an average growth in revenue and net income 12. 13% and 11. 42% respectively. V. â€Å"G† Growth rate Risk free rate |   | 3. 10%| Market rate|   | 10. 00%| Beta|   | 1. 58|Rate of return| Rf + B(Rm-Rf)| 14. 00%| # of share outstanding|   | 208| EPS|   | 3. 15| P/E ratio|   | 17. 48| Book value per share|   | 9. 42| Equity| Book value/share x # of share| 1959| Forecasted Net Income| EPS x # of share | 655. 2| Required Income| Equity x rate of return| 274| Residual Income| Forecasted NI – Required income| 381| Market price per share| P/E ratio x EPS| 55| Market capital| market price x # of share| 11453| Unrecognized intangible value (UIV)| market capital – equity| 9494| Growth rate| [(UIV *rate of return)-residual income]/UIV| 10%| With a risk free rate of 3. 0%, market r ate of 10%, and JWN’s Beta 1. 58, Nordstrom has a rate of return of 14% and growth rate of 10%. The growth rate 10% is slightly lower than the forecasted growth rate 11. 42% in net income and 12. 13% in revenue, based on the its past 5 years financial information. With the growth rate of 10%, the discount rate 14% from CAPM model is high enough for Nordstrom. Without the growth rate, discount rate 14% is too low because the capital market and market price per share will be $4679 million and $22. JWN’s market capital and market price per share are actually $11,453 million and $55/ respectively.With growth rate of 10%, JWN will have 14% in rate of return. VI. Recommendation about stock After evaluating Nordstrom’s past performance and forecasted its future growth, there should be a â€Å"BUY† in Nordstrom stock. Nordstrom has established itself as a high-end apparel retailing company. Nordstrom has founded itself upon excellent customer service and an unmat ched reputation. Its main competitors are Saks, Dillard’s, and Neiman Marcus. Nordstrom’s accounting policies are moderate and very well disclosed; they leave no room for any potential red flags to be raised. Nordstrom’s transparent accounting olicies show that the managers have confidence in the firm and its ability to perform. No distortion is used in their statements proving the firms high integrity standards. Upon completion of Nordstrom’s ratio analysis it is apparent that there should be no concerns as to how Nordstrom compares to its competition. In most cases Nordstrom was either average or stood above the competition. There were very few cases where Nordstrom fell behind in its market. Nordstrom would grow at an average 10% percent per year. This is shown through increasing sales and expansion of new stores.Nordstrom has $10,877 million net revenue, $683 million net income, EPS $3. 15, and dividend $. 90/share in fiscal 2012. Nordstrom is expecte d to have $11,705 Million net revenue, $735 million net income, EPS $3. 48 and dividend $. 90 per share during fiscal year 2013. JWN recently acquired online private sale leader HauteLook Inc, which will help the company in building its multi-channel retail format. The acquisition will facilitate Nordstrom to increase its direct business capabilities, implement an enterprise-wide inventory management system, direct sales to online customers and enhance customer service.JWN’s operations are based on a variable cost business model and about 40% to 45% of selling, general and administrative expenses are variable in nature. This flexible cost structure not only helps the company to mitigate the impact of sluggish sales trends on margins, but also enables it to quickly capitalize on the emerging opportunities when market conditions recover. Consequently, Nordstrom can expect a steady improvement in profitability moving forward. Nordstrom has 8. 6% increase in same-store sales for the five week period ended March 31st 2012 compared with the five week period ended April 2nd 2012.Total retail sales of $1. 03 billion for March 2012 increased 14. 7% compared with total retail sales of $897 million for the same period in fiscal year 2011. In addition, Nordstrom has a 7. 1% increase in same-store sales for the four-week period ended April 28th, 2012 compared with the four-week period ended April 30th, 2011. Preliminary total retail sales of $802 million for April 2012 increased 10. 5% compared with total retail sales of $726 million for the same period in fiscal 2011. First quarter same-store sales increased 8. 5% compared with the same period in fiscal 2011.First quarter total retail sales of $2. 53 billion increased 13. 7% compared with total retail sales of $2. 23 billion for the same period in fiscal 2011. In addition, JWN also invests 16. 4 million USD in Bonobos, an exclusive brand of men? s clothes that sells pants and other clothes online. Nordstrom will al so sell Bonobos products through its online store and through more than 100 brick and mortar stores. This move is one of Nordstrom? s efforts to capitalize on the growth opportunities and innovation potential that the web provides, which reflects a smart decision from a dynamic management team.

Inspirational Quotes from Mother Teresa

These quotes from Mother Teresa would be great additions to graduation or other classroom speeches. Use these in conjunction with themes and speech writing techniques. Yesterday is gone. Tomorrow has not yet come. We have only today. Let us begin.Give yourself fully to God. He will use you to accomplish great things on the condition that you believe much more in His love than in your own weakness.Little things are indeed little, but to be faithful in little things is a great thing.We cannot do great things on this Earth, only small things with great love.Let no one ever come to you without leaving better and happier.If you judge people, you have no time to love them.Kind words can be short and easy to speak, but their echoes are truly endless.God doesnt require us to succeed, he only requires that you try.We know only too well that what we are doing is nothing more than a drop in the ocean. But if the drop were not there, the ocean would be missing something.Reach high, for stars lie hidden in your soul. Dream deep, for every dream precedes the goal.I can do things you cannot, you can do things I cannot; together we can do great things.Do not wait for leaders; do it alone, person to person. More Information: Inspirational Quotes for Speeches

`` Princess Mononoke `` Directed By Hayao Miyazaki

In an interview with the director Hayao Miyazaki, he states that, â€Å"When you talk about plants, or an ecological system or forest, things are very easy if you decide that bad people ruined it. But that’s not what humans have been doing. It’s not bad people who are destroying forests.† With problems such as pollution, deforestation, and global warming constantly on the rise due to human consumption, creative minds around the globe are incorporating these themes into their works to express their thoughts on these environmental issues. One of those works is â€Å"Princess Mononoke† directed by Hayao Miyazaki. In this animated film Miyazaki shines a light on the senseless destruction of the environment caused by humanity’s desire for material goods. The core theme in â€Å"Princess Mononoke† is simply that if humans continue to mindlessly devastate the environment we will eventually exhaust all of our resources and destroy the planet. Many ar tists, authors, and directors have also dealt with this subject matter but the way Miyazaki directs and conveys this theme is what makes â€Å"Princess Mononoke† a truly unique movie. In this film, Miyazaki examines some of the impact and consequences of environmental destruction and employs techniques such as the personification of animals to argue that humans should have more respect and take care of the environment around them. â€Å"Princess Mononoke† takes place during an unspecified period in medieval Japan. The movie opens with a boar-like monsterShow MoreRelatedStudio Ghibli s Princess Mononoke, Directed By Hayao Miyazaki2265 Words   |  10 Pagesmessage. Studio Ghibli s Princess Mononoke, written and directed by Hayao Miyazaki, draws a connection between human greed and environmental consequences. 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Tragedy In Drama Essay - 1713 Words

Tragedy and Drama In a range of dramatic works from Agamemnon to Hamlet, one sees the range of development of the tragic form, from the earliest Greek to the later Shakespearean tragedies. There are two basic concepts of tragedy: the concept introduced by Aristotle in his Poetics, and the concept developed by Frederick Nietzsche in his quot;The Birth of Tragedy.quot; Many dramas can be reviewed to reveal the contrast between these two concepts of tragedy, and demonstrate the development of the tragic form over time. The idea of Greek tragedy stems from Aristotle’s definition of a tragic hero. In Aristotle’s definition, the tragic hero must be a person of high standing so their fall from glory will be all the more horrible. The hero’s†¦show more content†¦Again, we have a person of high standing in Oedipus, who is neither entirely good nor entirely bad. However, it is Oedipus’ pride that pervades as his tragic flaw throughout the play. It is pride that causes Oedipus to believe the rumor of his questionable parentage and further, to go to the oracle. It is again pride that causes him to leave Corinth in attempt to defy the prophecy of the oracle. And pride arguably causes Oedipus to murder the man he quarrels with on the road, who is actually his father, thus fulfilling the very prophesy he had tried to defy. Oedipus Rex demonstrates the belief in fate, that what is ordained shall be, regardless of man’s attempt to resist his fate. Oedipus falls victim to having poor judgement and letting his pride make his decisions for him, and this ends up becoming his demise. Another of the Greek tragedies is Medea, which is one of the few with a female as the title hero character. Medea demonstrates the changing attitude in Greek drama, and introduces a more human aspect to the hero’s behavior. In the earlier dramas, the heroes were influenced heavily by fate, and the tragic flaw and eventual downfall often had something to do with fate. However, in the case of Medea, we see the hero as falling outside the realm of divine intervention. Though Medea is wronged by Jason, there is no sense of support from the gods in exacting herShow MoreRelatedGreek Tragedy and Modern Drama1107 Words   |  4 PagesGreek Tragedy Modern Drama Tragedy as a form works differently than modern drama when compared to the ancient Greeks. When it comes to modern drama, the main character is usually an ordinary person, someone who is middle class. Where as with Greek tragedy, the main character is someone important and noble, such as a king or queen. Modern drama revolves around everyday problems such as social, economical, or personal conflicts. Greek Tragedies seem to be very linear. It’s mostly about theRead MoreAn Analysis and Comparison of Modern Tragedy in Drama1485 Words   |  6 PagesAristotle thoroughly describes his understanding of the tragedy in the Poetics and bases this conception on certain requirements. According to Aristotle the three most important variables that define a tragedy are plot, characters, and theme. Using Oedipus Rex as a sort of ideal, this philosopher demonstrates how a tragedy functions in order to evoke catharsis while exploring themes and human flaws, or mistakes. In Oedipus Rex, th e main figure, Oedipus the King is a subject of fate, unable to escapeRead MoreThe Glass Menagerie As A Modern Drama And Tragedy1767 Words   |  8 PagesMenagerie as a Modern Drama and Tragedy The Glass Menagerie by Tennessee Williams is classified as a modern drama and a modern tragedy. Modern drama plays are characterized by â€Å"social and cultural changes of America† and focus on more realistic matters. The characteristics of a modern drama allow for deeper characterization and understanding of the characters, and even lead to a more real and relatable lesson learned (Ableman). A play that falls under the category of a modern tragedy is one that appealsRead MoreTragic Drama According to AC Bradleys Theory of Shakespeare and a Comparison of Arthur Miller and August Wilsons Concept of Tragedy2899 Words   |  12 PagesPart one: Tragic drama according to A.C. Bradleys theory of Shakespeare The substance of Shakespeares tragedy solely points out to the power of death. In this five act play, the death of important characters suffices for the cruel reality of life. However, a completely realm is required in order to observe Shakespeares version of tragedy. Shakespeare has used tragedy to explain on the major paradoxes of life. It can be called a Paradox of disappointment. Defeat, unfulfilled desired, failed hopesRead MoreAnalyse the Dramatic Uses of the Chorus in Greek Tragedy; in What Ways Do Traces of the Choric Function Occur in Twentieth-Century Drama?3335 Words   |  14 Pagesfull influence of Greek tragedy upon our modern theatre is incomprehensible, with the mainstays of theatrical convention largely demonstrating roots within Greek tragedy. The choric function is just one of these conventions. This essay hopes to explore various uses of the Chorus within Greek tragedies by Aeschylus and Sophocles, and then to analyse how traits of a Greek Chorus, and the choric function can be found within 20th Century Theatre. The Chorus in Greek tragedy was a large group (it isRead MoreHamlet, Prince of Denmark825 Words   |  4 Pages2012 Hamlet as a Tragedy by William Shakespeare 1.1. Brief Introduction to Tragedy: Greek and English: Elizabethan tragedy is traced back to Greek tragedy, since Greeks are said to have pioneered the Western knowledge, be it Science, Arts, or Humanities—not necessarily Technology. The rich contribution of Greek dramatists like Sophocles, Euripides, Aeschylus and Aristophanes, is noteworthy, towards the development of both Roman and English Drama. Though Roman Drama could not thrive muchRead MoreQuest For Literary Form : The Greeks Believed That The Tragedy1742 Words   |  7 PagesGreeks believed that the tragedy was the greatest form of drama, and Aristotle’s concept of tragedy followed this belief. In the modern times, there has been a change in this view with various authors abandoning the classical form to follow more liberal forms of literacy. (Kennedy Gioia, Pp. 1203) Aristotle s Concept of Tragedy The analysis of Aristotle on tragedy formed the guideline for later poets in the Western civilization. Aristotle defined tragedy as â€Å"the simulation ofRead MoreOedipus Rex and Aristotle Essay example894 Words   |  4 PagesThe Six Elements of a Tragedy in â€Å"Oedipus Rex† Aristotle’s â€Å"The Poetics† describes the process of a tragedy. It is not the guide per se of writing a tragedy but is the idea’s Aristotle collected while studying tragedies. A tragedy, according to Aristotle, consists of six major points. The first and most important is the plot, which is what all the other points are based on. Such points are: character, language, thought, melody, and spectacle (Aristotle). A prime example of the usage of theseRead MoreComparing Aristotle and Miller ´s View on Tragedy1230 Words   |  5 PagesGreece citizens hoped to go unnoticed by the Gods. The Gods played a huge role on what occurred in a citizen’s life. If a prophecy was decided by a God, then there was no altering it. Aristotle believes that this is what makes up a true tragedy. He suggests that tragedy is plot driven, and if the plot is set then there is no way around it. In Oedipus Rex by Sophocles, Oedipus is paying for the sins of his father King L aios. Laios was given horrible future by the Gods for angering them when he rapes anotherRead MoreEssay about Book Report on Martin Esslins an Anatomy of Drama1039 Words   |  5 PagesMartin Esslin, an established drama director, scholar, and critic, approaches his analysis of drama by drawing on his practical experience as a director of plays. Esslin implicitly assumes that drama is the most elite of the artistic genres when he directly declares the purpose of his book, which is to answer the question why should those concerned with art resort to drama rather than any other form of communication? Esslin then immediately poses another question that he seems to take as a prerequisite

Air Water Polution Free Essays

Air and Water Pollution Derrick Harris University of Phoenix ENV/100 Sam H. Abbas PhD August 9, 2010 Table of Contents Abstract†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. We will write a custom essay sample on Air Water Polution or any similar topic only for you Order Now 3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Black Carbon Pollution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 Smog Pollution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Water Pollution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5-6 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Ref erences†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 Abstract Air and water pollution has become a great problem in society today. Pollution is not only effecting humans but it is effecting plants, trees and animals and the earth’s natural water supply. This document will give various examples of air pollution and water pollution and how it’s affecting the environment as a whole. Air and water Pollution Introduction The earth is constantly working hard to repair itself for man made pollution such as carbon monoxide, nitric oxide, sulfur oxides, volatile organic compounds and particulate matter. All of the above named pollutants are what is known as primary pollutions; the main reason that they are called primary pollutions is because they are directly released into the earth’s atmosphere and it has adverse affects on everything such as the uman anatomy, the reservoirs as well as animals and even the way major cities sky’s look. But the main things that will be discussed and analyzed are black carbon pollution and smog. The other matters that will be addressed is two types of water pollution such as, Oil spills and trash being dumped into oceans. Black Carbon Pollution According to  lbl. gov  (n. d. ),  Ã¢â ‚¬  Black carbon pollution is the release of tiny particles into the air from burning fuel for energy. Air pollution caused by such particulates has been a major problem since the beginning of the industrial revolution and the development of the internal combustion engine . Scientific publications dealing with the analysis of soot and smoke date back as early as 1896. Mankind has become so dependent on the burning of fossil fuels (petroleum products, coal, and natural gas) that the sum total of all combustion-related emissions now constitutes a serious and widespread problem, not only to human health, but also to the entire global environment. †Ã‚  (Why study black carbon pollution,  para. 1). This type of pollution is called primary pollution, because of the fact that the toxins from the fuel are released directly into the air. The adverse affects on humans from back carbon pollution can be asthma, and acute allergies. Black carbon pollution plays a major role in global warming â€Å"Scripps Institution of Oceanography at UC San Diego atmospheric scientist V. Ramanathan and University of Iowa chemical engineer Greg Carmichael, said that soot and other forms of black carbon could have as much as 60 percent of the current global warming effect of carbon dioxide, more than that of any greenhouse gas besides CO2. † (University of California – San Diego,  2008, para. 2). Smog pollution A smog (2010), according to Smog-Definition, A form of air pollution produced by the photochemical reaction of sunlight with hydrocarbons and nitrogen oxides that have been released into the atmosphere, especially by automotive emissions. Most smog in the world come from industrial plants such as power plants and emotions from cars. This type of pollutions is also called primary pollution as well. Smog effects the atmosphere in such a harsh way and causes things such as acid rain. Which destroys plants and some of the world water supplies and this is a very harmful. Smog also contributes to the overcast in some major cities such as New York, Los Angeles and all other major cities. This affects not only American cities but countries outside of the United States of America. Basically smog can be anywhere any major city is. Water Pollution Pollution is the world water way and water supplies is an ongoing problem because of a various reasons but some of the major reason are, oil drilling. Oil is one of the world natural resources and a great majority of it is found in oceans around the world. Now oil is a resources that is needed in society today but, it is also destroying ocean life and causing clean and fresh water to be continually contaminated. Another type of pollution in the water is the dumping of trash into the ocean; as far as the authors opinion trash dumping is one of the worse types of pollution because when different types of fish see the trash in the water the eat it. For example plastic bags are some of the most common things that, get dumped into the ocean and get mistaken for jellfish. Also, fish always get caught in old fish nets and find it hard to get out. These two types of water pollution’s are known as secondary pollution because they are not directly released in to the atmosphere but indirectly from a second source. Conclusion Pollution is and always will be a never ending problem and will continue to effect the world, unless the leaders of today’s society decides that the earth in which humans have to live on and get their resources from is important; pollution will always be a problem. References   lbl. gov. (n. d. ). Black carbon pollution. Retrieved from http://www. lbl. gov/Education/ELSI/pollution-main. html University of California – San Diego, . (2008, March  24). Black carbon pollution emerges as major player IngGlobal warming. Science daily. Retrieved from http://www. sciencedaily. com/releases/2008/03/080323210225. htm Smog. (2010). In Smog-Defenition. Retrieved from http://www. thefreedictionary. com/smog How to cite Air Water Polution, Essay examples

Economics and Quantitative Analysis

Question: (a) Provide a descriptive analysis of the two variables (e.g., mean, standard deviation, minimum and maximum). (b) Develop a scatter diagram with retention rate as the independent variable. What does the scatter diagram indicate about the relationship between the two variables? (c) Develop and estimate a regression equation that can be used to predict the graduation rate (%) given the retention rate (%). (d) State the estimated regression equation and interpret the meaning of the slope coefficient. (e) Is there a statistically significant association between graduation rate (%) and retention rate (%). What is your conclusion? (f) Did the regression equation provide a good fit? Explain. (g) Suppose you were the president of South University. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities? (h) Suppose you were the president of the University of Phoenix. After reviewing the results, would you have any concerns about the performance of your university compared to other online universities? Answer: The variables upon which the performance of a university is dependent upon are the graduation rate and the retention rate. The graduation rate takes account of the students that attain their degree rather than drop out of the college or graduate from the university, where as retention rate refers to the number of students that intend to continue their education from the particular institute or university rather than switching to the competitors. It should be noted that the graduation rate is directly proportional to the retention rate which means that graduation rate would increase as the retention rate increases because the students that are retained by the university are then graduated from that university however this is not always the case. Number of statistical tools has been used for this particular purpose and this objective. The first method to be utilized is to calculate the mean which then is used to develop second method which is the standard deviation method. Mean is the most observed and most common rate between the graduation rate and the retention rate where as standard deviation rate is volatility from the mean (Altman, 2010). Furthermore min and max amount method can be utilized in which the min amount would provide the minimum rate of retention and graduation where the max amount would provide the maximum rate of retention rate and graduation rate. Accordingly then a scatter diagram would be used to determine the relationship and correlation between the two variable in the given data. The results could provide a positive correlation or a negative correlation. In some cases, it is possible that there might not be any relationship between the variables. Furthermore the report follows with another statistical tool that is the regression model that shapes an equation that provides a relationship between the retention rate and graduation rate. PURPOSE: The objective of this report is to analyze the data of 29 online colleges statistically. The tools used in this process are statistical such as standard deviation, mean, min, max, regression analysis and scatter diagram. Regression analysis and scatter diagram would provide the relationship between the two variables which in this case are the retention rate and graduation rate. The mean is the centre figure in the provided data set which means it is the most common figure among the two variables in the data set. Whereas the standard deviation refers to the volatility from the mean calculated. The other method that is min and max would provide the minimum and maximum rate of the variables. Regression analysis and scatter plot would provide the relationship between the two variables, in which one would be independent and other dependent. In this case, retention rate would be independent variable and graduation rate would be dependent upon earlier variable. BACKGROUND: The statistical calculation is used upon the data set provided of 29 universities as it would provide a reasonable basis for understanding the relationship between the retention rate and the graduation rate. Such methods are also used by most analysts to determine the relationship among different variables. Among others, regression equation is most commonly used as it provides the relationship between the variables in a linear equation such as the one provided: Y=mX+C Where X is the independent variable, Y is the dependent one that depends on the value of X and C is the Y-intercept. METHOD Initially the most basic method to be used in this process is the determination of the mean. The mean provides the most common number for the retention rate and graduation rate in the data provided whereas standard deviation provides the volatility from the mean. Accordingly, the other two methods that are the min and max provide the minimum and maximum rate accordingly for the retention rate and graduation rate. The scatter plot would be used to determine the relationship between the two variables that are retention rate and the graduation rate. Relationship can be a positive relationship and it can be a negative relationship (Touchette, 2011). A positive relationship would suggest that the dependent variable is directly proportional to the independent variable which means that the dependent variable would increase if the independent one increases. A negative relationship would suggest that the dependent variable is inversely proportional to the independent variable meaning if the i ndependent variable increases, the dependent variable would supposedly decrease. For example if more electronics are used then more electricity would be consumed. In such case number of electronics would be an independent variable and amount of electricity consumed would be the dependent variable. However it is not necessary that a relationship would always be positive as there could also be a negative relationship meaning both variables behaving in a completely opposite manner. For example, more a student studies, less there would be chance he would fail. Another relevant example would be higher the expenses of a company, lesser the profits earned. Sometimes there is no relationship between the variables for example the relationship between hunger and intake of water or taking a nap. Although there is no point to identify the relationship between the two variables, however some analysts think that the relationship should be further explored using other methods and models (Denis, 20 12). Another model that can be used to determine the relationship between the retention rate and graduation rate is the regression analysis. This method would provide an equation that would explain the relationship between the two variables. Supposedly those two variables are graduation rate and retention rate. The graduation rate is X and retention rate would be Y. A positive relationship is found between the two variables i.e. retention rates and graduation rates as it was observed that X increases as Y increases. RESULTS The results are explained along with the table of data sets below DISCUSSION It can been be said from the above table that the most common number for retention rate i.e. the number that majority of the universities have achieved as retention rate is calculated 57% where as the most common number for graduation rate is 41%. However the standard deviation from such means for retention rate was calculated 23% whereas standard deviation from mean for graduation rate was calculated 9.9%. The max provides the maximum retention rate among the institutes and maximum graduation rate amongst the institutes. The min provides the minimum retention rate among the institutes and minimum graduation rate amongst the institutes. From the above calculations, the maximum graduation rate was determined as 61% where the maximum retention rate determined was 100%. However from the above calculations the minimum graduation rate was determined as 25% and minimum retention rate determined was 4% from the data set provided. The scatter plot for the analysis is presented below It is observed that within the range of 40% and 80% the relationship between graduation rate and retention rate cannot be determined accurately however if whole graph is considered, it can be reasonably determined that the relationship is a linear relationship as the graduation rate is increasing as the retention rate is increasing. This is due to the fact that if a student chooses to stay in a university where he was previously studying; there are high chances that he will graduate from the same university in which he was retained (Gulliksen, 2009). There both variables that is graduation rate and retention rate are positively correlated. Regression analysis statistically determines the relationship between two different variables by producing an equation using the two variables. From the two variables, one is an independent variable where as second variable is dependent of the first one. The equation used in this method is Y=mX+C In the above equation, X is the independent variable as it does not depend upon other factors; however Y is the dependent variable which depends upon the changes is X and it is y, we are aiming to determine. And c is the Y intercept. For the data provided of the 29 online universities, the regression chart is provided as follows The relation between the graduation rate and retention rate can be observed to be linear one from the above table as it can be seen that universities with higher retention rates provide higher graduation rates. A positive correlation serves that if Y increases if the Y increases. This is due to the fact that y is dependent upon the value of X which is independent of any influences. The above calculation provides 0.28 slope, Y as the graduation rate and X as the retention rate whereas the Y-intercept was calculated as 25.4. This proves that mostly students are satisfied with the existing standard of education provided to them and are motivated to continue their further education from the same university which effectively increases the graduation rate of the university. Although mostly universities have linear relationship between the graduation rates and retention rates, however there are some universities with higher retention rate and lower graduation rate and there are also some universities with higher graduation rates and lower retention rates suggesting that some of the data provided do not fit in the linear equation. However such figures are immaterial and can be ignored (Lin, 2011). So in conclusion it could be said that the graduation rate is directly proportional to the retention rate suggesting that mostly student prefer to complete their education rather than to drop out which effectively increases the graduation rate. RECOMMENDATIONS The retention rates and the graduation rates are most favourable and highest for University Of South but as the president of the university it highly concerns me that there some universities that have high graduation rates but lower retention rates as described earlier it not every but a minor and immaterial number of universities. However in the same way, South University possesses a very favourable retention rate but the graduation rate is very disappointing and not what is expected. The issue should be discussed the senior management or at least with the instructor as he would have knowledge regarding this and would provide guidance regarding this matter. It is possible that such low graduation rate would be due to high dropout rate of students having financial issues and cannot afford further education. The graduation rate of Phoenix University is higher but its retention rate is quite low which suggest that students switch to universities during the final period of their educati on. Finally it could be said that the issue should be resolves as soon as possible as it would increase the graduation rate of the university which would in turn improve the overall raking of the South University as it would have higher graduation rate then its retention rate. This issue should be the priority of the president and his main concern so that the graduation rate could be increased. It should also be ensured that the issue is discussed with the instructor and the ex-students that have left the university to determine the cause of their departure. References Altman, D.G., 2010. Standard deviations and standard errors. BMJ Journal, pp.52-58. Denis, D., 2012. THE EARLY ORIGINS AND DEVELOPMENT OF THE SCATTERPLOT. Journal of the History of the Behavioral Sciences, pp.103-30. Gulliksen, H., 2009. A mechanical model illustrating the scatter diagram with oblique test vectors. Springer Journal, 16(2), pp.223-38. Lin, D.Y., 2011. Linear regression analysis of censored medical costs. Oxford Journals, 1(1), pp.35-47. Touchette, P.E., 2011. A scatter plot for identifying stimulus control of problem behavior. US National Library of Medicine , pp.343-51. Economics and Quantitative Analysis Questions: 1. In 2003, when music downloading first took off, Universal Music slashed the average price of a CD from $21 to $15. The company expected the price cut to boost the quantity of CDs sold by 30 per cent, other things remaining the same. What was Universal Musics estimate of the price elasticity of demand for CDs? If you were making the pricing decision at Universal Music, what would be your pricing decision? Explain your decision. 2. In May 2009, iTunes raised the price of 33 songs from 99 per download to $1.29 per download. In the week following the price rise, the quantity of downloads of these 33 songs fell 35 per cent. Taking this into account calculate the price elasticity of demand for these 33 songs. 3. A 5 per cent fall in the price of chocolate sauce increases the quantity of chocolate sauce demanded by 10 per cent; and with no change in the price of ice cream, the quantity of ice cream demanded increases by 15 per cent. Calculate the price elasticity of demand for chocolate sauce. Calculate the cross elasticity of demand for ice cream with respect to the price of chocolate sauce. Are ice cream and chocolate sauce substitutes or complements? Why? Answers: 1. In the 2003, the average price of the CD of Universal Music was changed from $21 to $15. It is expected that the reduction in price would boost the sell of the CDs by 30%. The percentage change in quantity was found to be 30% and the percentage change in price was found to be [($15 - $21) / ($21)] * 100 = - (6/21) * 100 = 28.57% (decrease) (Thimmapuram and Kim 2013). The price elasticity of demand for the CDs of Universal Music is given by (% change in quantity) / (% change in price) = - 30 / 28.57 = -1.05. It is seen that the demand in this case is inelastic as the price elasticity of demand is negative. The pricing policy of the CDs of Universal Music would be that the company must raise the price of the CDs in order to gain the revenue of the company (Rassenfosse and Potterie 2012). The relationship between price and quantity was found to be negative and thus Universal Company must decide to raise the price of the CDs. 2. In May 2009, the price of 33 songs was raised from 99 cents per download to $1.29 per download. $1.29 = 129 cents Percentage change in price = [(129 99) / 99] * 100 = 30.30% It was seen that during this period the quantity of download fell by 35%. Therefore, change in percentage of quantity was found to be 35%. The price elasticity of demand of the download of 33 songs is given by (% change in quantity) / (% change in price) = 35 / 30.30 = 1.155 (Lin and Prince2013). It is seen that the demand in this case is elastic and there is a positive relationship between price and quantity of this product. 3. Percentage in fall of the price of chocolate sauce is 5%. The percentage of increase in the quantity of demand of chocolate sauce is 10%. It is seen that the percentage of change in price of ice-cream is 0 while the quantity of demand of ice cream increased by 15%. The price elasticity of demand of chocolate sauce is (% change in quantity) / (% change in price) = - 10 / 5 = 2 (decrease). The cross elasticity of demand of ice cream with respect to the price of the chocolate sauce is given by (% change in quantity of ice cream) / (% change in price of chocolate sauce) = - 15% / 5% = 3 (decrease). It is seen that the cross elasticity of demand of ice cream with respect to the price of the chocolate sauce was found to be negative (Dutkowsky and Sullivan 2016). Thus, it can be interpreted that the products chocolate sauce and ice cream are complement of each other as the negative relationship shows that with the increase in the price of chocolate sauce, the demand of ice cream decreases. References Dutkowsky, D.H. and Sullivan, R.S., 2016. Excise taxes, over-shifting, cross-elasticity, and tax revenue.Applied Economics Letters, pp.1-4. Lin, C.Y.C. and Prince, L., 2013. Gasoline price volatility and the elasticity of demand for gasoline.Energy Economics,38, pp.111-117. Rassenfosse, G.D. and Potterie, B.V.P.D.L., 2012. On the price elasticity of demand for patents.Oxford Bulletin of Economics and Statistics,74(1), pp.58-77. Thimmapuram, P.R. and Kim, J., 2013. Consumers' price elasticity of demand modeling with economic effects on electricity markets using an agent-based model.IEEE Transactions on Smart Grid,4(1), pp.390-397.