Business Financing and the Capital Structure

Raising Business CapitalAs a monetary counselor to this business there are two alternatives to consider for raising business capital, value financing and obligation financing. The subtleties, favorable circumstances, and weaknesses of the two choices will be given. Additionally data about raising capital by choosing a speculation broker will be examined. To wrap up, the recorded connections among hazard and return for regular stocks versus corporate securities will be inspected. Value FinancingIn terms of value financing it is the way toward raising capital through the offer of offers in an endeavor (National Federation of Independent Business, 2011). Value financing is the offer of a possession enthusiasm to raise assets for business purposes. â€Å"Equity financing traverses a wide scope of exercises in scale and extension, from two or three thousand dollars raised by a business visionary from loved ones, to mammoth beginning open contributions (IPOs) running into the billions by commonly recognized names, for example, Google and Facebook† (Kokemuller, 2013).The value financing process is administered by guidelines forced by neighborhood or national protections expert in many locales. The guidelines are intended to shield the general population from contributing with unhonest administrators who may raise assets from clueless speculators and vanish with the cash. A value financing is in this manner by and large joined by a contribution reminder or outline, whichâ contains a lot of data that should enable the speculator to settle on an educated choice about the benefits regarding the financing (National Federation of Independent Business, 2011). Such data incorporates the organization's exercises, subtleties on its officials and chiefs, utilization of financing continues, chance variables, fiscal summaries thus on.AdvantagesThe fundamental favorable position of value financing is that it doesn't need to be reimbursed. Also, you share the dangers and lia bilities of organization possession with the new speculators. Since you don't need to make obligation installments, you can utilize the income produced to additionally develop the organization or to broaden into different zones. Keeping up a low obligation to-value proportion additionally places you in a superior situation to get an advance later on when needed.DisadvantagesThere are tradeoffs with value financing, its impediment is by taking on value venture, you surrender incomplete possession and some degree of dynamic authority over your business. Huge value speculators frequently demand putting delegates on organization sheets or in official positions. In the event that your business takes off, you need to impart a bit of your profit to the value financial specialist. After some time, circulation of benefits to different proprietors may surpass what you would have reimbursed on an advance. Value financing is unique in relation to obligation financing, which alludes to reserves acquired by a business.Debt FinancingsAccording to Investopedia, obligation financing is the point at which a firm fund-raises for working capital or capital consumptions by selling securities, bills, or notes to individual as well as institutional speculators. As a byproduct of loaning the cash, the people or foundations become banks and get a guarantee that the head and enthusiasm on the obligation will be reimbursed (Investopedia, 2012).AdvantagesThe favorable position of obligation financing is it permits you to pay for new structures, hardware and different resources used to develop your business before you gain the vital assets. This can be an extraordinary method to seek after a forceful development system, particularly in the event that you approach low loan fees. Contrasted with value financing, organizations don't need to surrender any proprietorship or control of the business with obligation financing. After the advance is repaid the organizations relationship is finished . Different focal points of obligation financing are the enthusiasm on the advance is charge deductible and if the credit is fixed rate the head and intrigue can be arranged in the spending plan (Kokemuller, 2013).DisadvantagesThe primary drawback related with obligation financing is that you need to reimburse the advance, in addition to intrigue. On the off chance that an organization doesn't take care of the advance in the terms settled upon the property and resources can be repossessed by the bank. Obligation financing is additionally getting against future income. This implies as opposed to utilizing every single future benefit to develop the business or to pay proprietors, you need to distribute a part to obligation installments. Abuse of obligation can seriously restrict future income and smother development. Is obligation financing isn't appropriately observed and controlled it can hurt the business. On the off chance that a lot of obligation is conveyed the business and prop rietor will be viewed as â€Å"high risk† by likely speculators and that will restrain the capacity to raise capital by value financing later on. Obligation can likewise make it hard for a business to develop if the expense of reimbursing the advance is high.Investment BankAnother choice for raising capital is choosing a venture bank. They are monetary organizations and people who help organizations in raising capital, regularly through a private situation or open contribution of organization stock. At times speculation financiers are alluded to as merchants or arrangement producers. Organizations often use venture brokers to help recognize accessible financing alternatives and acquire acquaintances with subsidizing sources (Growth Company Guide, 2000). Venture banks additionally give modern exhortation on the states of raising money for privately owned businesses. Since venture financiers make a business of fund-raising for organizations, they can regularly be very useful to an organization in breaking down its subsidizing needs, distinguishing the most probable or suitable hotspots for fund-raising and executing a gathering pledges system (Growth Company Guide, 2000).An speculation bank can help, yet the nature of a company’s opportunity and the quality of its supervisory group decides the measure of alternatives open for a given gathering pledges. Speculation brokers likewise change in quality, assets, experience and contacts. Speculation investors who are knowledgeable about the company’s business and the sort of financing it needs, can frequently enable an organization to raise reserves. On the off chance that they are new to the company’s business or the kind of financing being looked for, they may really thwart a company’s financing endeavors. Basic Stocks versus Corporate BondsIt is generally known and acknowledged among speculators that the higher the profits on a venture, the higher the dangers are. Safe ventures co nvey okay, however the profits are likewise lower. Various degrees of hazard apply to normal and favored stock, just as to corporate securities. Corporate securities for the most part have the least degree of danger of the three venture types, yet in addition offer lower returns, even with customary profit installments. Normal stocks have the most elevated danger of the ventures and the most elevated potential returns.Common StocksWhen you buy stock in an organization during an open contribution, you become an investor in the organization. A few organizations deliver profits to investors dependent on the quantity of offers held, and this is one type of quantifiable profit. Another is the benefit acknowledged by exchanging on the stock trade, yet one must sell the offers at a more significant expense than paid for. The dangers of claiming normal stock incorporate the conceivable loss of any anticipated benefit, just as the cash paid for the offers, if the offer value dips under the f irst priceCorporate BondsBonds gave by organizations speak to the biggest of the security markets, greater than U.S. Treasury securities, civil bonds, or protections offered by government organizations (Sandilands, T. 2013). The hazard related with corporate securities relies upon the monetary dependability and execution of the organization giving the securities, provided that the organization fails it will most likely be unable to reimburse the estimation of the security, or any arrival on speculation. Evaluate the hazard by checking the company’s FICO score with appraisals offices, for example, Moody'sâ and Standard and Poor's. Great evaluations are not ensures, be that as it may, as an organization may show a superb credit record until the day preceding petitioning for financial protection (Sandilands, T. 2013).RiskCorporate securities hold the most reduced danger of the two kinds of ventures, if you pick the correct organization where to contribute. The primary explanati on behind this is in case of insolvency, corporate investors have a more grounded guarantee to installment than holders of regular stocks. Bonds convey the danger of a lower rate of return, as the exhibition of stocks is commonly better. Basic stocks convey the most elevated hazard, since holders are last to be paid in case of insolvency.

Black resistance to slavery essays

Dark protection from bondage papers African-Americans opposed subjection in two or three distinct ways. They had slave uprisings, revolted against servitude, and furthermore they fled from subjugation through the Underground Railroad. One far more than the rest helped the white network to understand that the African-Americans were eager to surrender their lives for this reason. That these were individuals, not creatures and that a war was on its way. This was appeared through the various slave revolts. Denmark Vesey was offered first as a slave in 1781 to a Bermuda chief named Joseph Vesey (Denmark Vesey 1). Denmark accepted his lords family name and went with him on various journeys, and in 1783 Denmark settled with his proprietor in Charleston (Denmark Vesey 1). Denmark won a road lottery and he purchased his own opportunity (Denmark Vesey 1). He at that point turned into a craftsman and he experienced difficulty working with the entirety of the other white laborers (Denmark Vesey 1). He was an informed man and he definitely knew about the incomparable Haitian slave revolt of the 1790s (Denmark Vesey 1). He disdained the proceeded with subjugation of his kids and his inferior treatment at work (Denmark Vesey 1). He was resolved to take care of subjugation and the general treatment of African-Americans (Denmark Vesey 1). Vesey arranged and sorted out an uprising of city and estate blacks (Denmark Vesey 1). The arrangement required the revolutionaries to assault guardhouses and wea pons stores, hold onto their arms, execute whites, consume and wreck the city, and free the slaves the evening of June 16, 1822 (Denmark Vesey 1). Upwards of 9,000 blacks may have been associated with this arrangement (Denmark Vesey 1). The main issue was that a house hireling over heard the arrangement and carried it to white specialists (Denmark Vesey 1). These specialists made gigantic military arrangements, which forestalled the uprising (&qu... <!

Free Informative Essay Topics

Free Informative Essay TopicsMany people would argue that essay topics should be personal, but when it comes to writing free informational essays or commentaries on the topics of current news, many find it difficult to start with a personal point of view. Should you write about your job and not the topic of your current job? If you are trying to figure out where to begin with a discussion of current events or reports, then here are some useful tips.Start with a topic that is related to your subject matter. If you have a marketing product, a product review can be an effective essay topic. However, if you are writing about your job, then you might want to think about starting with something related to that. Either way, it's important to come up with a topic that you know you can bring to life and use in your writing.You should also consider the time constraints that are involved when you are working on essay topics. The best type of essay to write involves a variety of reading material and an essay editor who are used to working on wide-ranging topics. If you cannot make the time available for such writing, then you will find it more difficult to write interesting essays.To keep your work interesting, it is important to choose topics that are relevant. Whether you want to write about the presidential election or a current international issue, keep your focus. Avoid topics that are far too broad. For example, if you are writing about the new world trends of the sports world, then you might want to steer clear of discussing political issues and instead discuss how specific players are shaping the debate over ice hockey or American Football.If you do want to write on current events, then it's essential that you stay within your comfort zone. Choose topics that you are familiar with and are involved with. In other words, try to choose topics that are topics that you can relate to and discuss.Research is an essential part of a free informative essay and is especially important if you are trying to research specific subjects. The ability to research and answer questions properly is an integral part of the writer's skill set. Without a good grasp of the topic, it can make it difficult to write informative essays.Essay topics need to be researched thoroughly so that you know what you are dealing with and have everything at your fingertips. If you do not have a good grasp of the subject, then your chances of writing informative essays are greatly reduced. Make sure that you research the topic thoroughly before you begin to write, so that you can get as much information as possible.These are just a few tips for essay topics that you can use. They are only suggestions and you will want to base your content on what you feel is appropriate. As you research topics and see what works for you, you will find it easier to come up with topics that you can enjoy working on.

Jean Piaget s Theory Of Cognitive Development - 2404 Words

Introduction When we are born we have a different mindset then when we are at adult age. We view our surroundings and experiences differently and even our learning styles differ. Researchers such as Jean Piaget, Erick Erikson, and Lawrence Kohlberg have taken their interest in the areas of developmental growth and through research have brought us fascinating theories and observations. We also have certain developmental milestones in which we have certain abilities that we must learn at certain stages of life. Jean Piaget developed his Stage Theory of Cognitive Development which stated that we progress through our youth into adulthood passing through 4 key stages. Each stage marks a change in the way we understand the world. Erick†¦show more content†¦His theory showed us that we grow through 4 key stages in life, and each stage mark’s a change in how we understand the world. The first stage is the sensorimotor stage which we experience from birth to age 2. In the sensorimotor stage we as infants acquire our knowledge through basically observations and grabbing and touching objects. From here we progress to the preoperational stage from age 2 to age 7. In this stage we as children learn through pretend lay. However, we still struggle with logic and understanding other’s points of view. Then from ages 7 through 11, we experience the concrete operational stage. In the concrete operational stage kids think more logically, but we still have some trouble with logic hypothetical concepts and abstract thoughts. Once we have reached our adolescence, we enter the final stage known as the formal operational stage. In this stage we experience an increase in logic and increase in reasoning. We also begin to understand abstract ideas. Piaget once stated that children don’t possess less knowledge then adults, rather they just view the world differently. Once we examine the formal operational stage and how our thinking changes are in this stage, I began to ponder when I entered this stage. It is hard for me to pinpoint this time for me since I always reminisce on my childhood and admit I was always immature until now. I

Modern Middle East - Free Essay Example

Sample details Pages: 5 Words: 1472 Downloads: 8 Date added: 2019/10/10 Did you like this example? Urabi Revolt The revolution was led by nationalists in Egypt and occurred from 1879 to 1882. The leader of the revolt was Colonel Urabi Ahmed hence the name Urabi revolt. The main reason for the start of the revolt was to end the French and British influence over Egypt together with the deposing of khedive Tewfik pasha. Don’t waste time! Our writers will create an original "Modern Middle East" essay for you Create order The uprising was however put to a stop after the bombardment of Alexandria by the British together with the invasion of Egypt that left the country being ruled by foreigners until the wake of the Second World War. Both the khedival and British governments worked up and down to discredit the name of Urabi and his revolution; despite all these efforts, the name Urabi still remained popular among the common people. The government therefore resorted to the use of the education system and media to declare Urabi a traitor and described the revolution as a mere mutiny within the military. The Urabi revolution played a significant role in shaping the anti-colonial nationalism movement in Egypt (Mayer 1988). In fact, Gamel Abdel Nasser referred to the revolt as a glorious struggle by the Egyptians against foreign rule. The revolt is seen as the 1952 revolution precursor. Tanzimat In simple terms, the word Tanzimat means the restructuring of the Ottoman Empire. This period began in 1839 and ended in 1876 during the first constitutional era. During this period, there were numerous attempts to achieve modernization in the empire together with securing the integrity of its territory from nationalist movements and aggressive powers that were mushrooming both internally and externally (Eryilmaz). Due to the diverse ethnicity existing in the kingdom, the reforms advocated basically for Ottomanism among the members; the emancipation of the non-Muslims in the kingdom together with the integration of non-tucks through granting them equal rights within the kingdom and fostering their civil liberties. The reforms mainly originated from sultans such as Abdulmecid I and Mahmud II. These sultans recognized the fact that olden military and religious institutions did not live up to the standards of the empire; many changes were aimed at emulating European practices that they saw to be successful. Among the reforms include; Introduction of paper banknotes in 1840. The first empire post office was opened in 1840. The system of finance was reorganized (1840). The criminal and civil code was also reorganized in 1840. Army reorganization- duration of service, recruitment techniques. Creation of the ottoman flag and anthem in 1844. The first census was conducted together with issuance of identification cards to the people (1844). Abolition of slavery (1847). The reforms generally led to the restructuring of numerous institutions within the empire; everything was updated in line with the ever changing world. This restructuring made the number of bureaucrats within the empire to increase. Dinshaway Incident This incident occurred in 1906 after an outbreak of dispute between the local residents of Dinshaway in Egypt and the British officers. Despite the fact that the incident was not too bad; this is in terms of the injuries and casualties, it has left a long lasting impact on the history of Egypt. In fact, the Dinshaway museum was built in commemoration of this event. The incident occurred after some British officers were spotted hunting down pigeons as a form of recreation. The local residents of Dinshaway were unhappy about the event since they were the ones raising the pigeons which they considered as their source of livelihood. They therefore attacked the officers. One of the officers fired his gun wounding a Muslim prayer leader’s wife. This event provoked the local residents. This was followed by numerous arrests and court sentencing. This event contributed a lot in shaping up the anti-colonials struggle in Egypt especially during the First World War. Young Ottoman Movement Established in 1865, the young ottomans was a secret society movement by intellectuals in the Ottoman Empire who were not happy with the Tanzimat reforms that were taking place in the empire. They believed that the empire could only be transformed through preserving the olden traditions of the empire along with adopting a constitutional government from the European traditions. Despite the fact that most of the time they disagreed when it comes to ideologies, the one thing they all agreed on was the fact that the constitutional government they were trying to adopt should be founded on the basis of Islam; in other words, they sought to emulate certain European government models together with upholding the Islamic way of life the empire was founded upon. Members of the movement include; Ziya Pasha, Ibrahim Sinasi, Agah Effendi and Ali Suavi. Historically, the movement is considered to be one of the earliest movements of modern ideologies among elites within the Ottoman Empire. Moreover, they are considered to be the first people to use the press as an instrument of political criticism. They contributed greatly to the promulgation of the very first constitution in the Ottoman Empire (Zurcher 2014). Muhammad Ali Born in 1942, Muhammad Ali was an American activist and boxer on the international platform. Even after his death in 2016, Muhammad is still considered one of the most celebrated and significant sports personalities of the 20th century. All throughout his career, Ali was considered a polarized, controversial and inspiring person (Hauser 1992). By changing his name from clay to Muhammad Ali, he acted as a good example of racial pride to all the African Americans. Up to date, Ali is considered one of the greatest heavyweight boxers; he is still the reigning three time heavyweight champion. After retirement, Ali dedicated his time to carrying out charity work and religion. In 1999, Ali was among the top 100 most important people of the 20th century according to the time magazine. He was recognized by both president bill Clinton and President George bush. Various streets and malls have been named after this legendary sports person. Moreover, the Muhammad Ali boxing reform act was passed in 2000; the act looked into protecting the welfare and rights of boxers in USA. Reuter concession This was a contract between Baron de Reuter Julius; a British-Jewish businessman and banker and Nasir al-din Shah; the Qajar king of Persia (present day Iran). It was signed in 1872 giving baron control over all Persian mills, the extraction of natural resources, telegraphs, factories and other public activities. In exchange, the Persian government could receive a sum agreed upon for five years and an additional 60% of all the revenue collected for a total of 20 years. The local clergy in Persia were however not happy with the concession; they therefore went ahead to distribute flyers in Tehran claiming that the control of country affairs was being handed over to baron who was a Jew. They also claimed that he was planning to construct a railway through south Tehran which had the holy shrines of the land. They therefore believed all this was the work of the devil in a bid to bring corruption to the land of Muslims. The concession also received external outrage from the Russian governm ent. Due to the intense pressure, Nasir al-din Shah decided to cancel the concession despite the poor financial situation of the country. The British government also refused to offer financial support to Baron which also contributed to the cancellation of the concession; it therefore lasted for only one year. There was however the signing of a second Reuter concession which subsequently led to the birth of the imperial bank of Persia, engineered by Baron Julius D’Arcy Concession This was a petroleum oil concession signed in 1901. It was between Mozzafar al-din of Persia (now Iran) and William D’Arcy. This concession gave William rights to exploit oil in Persia. However, during the process of exploitation, William and his colleagues faced numerous financial problems together with the inability to find stable oil fields. In 1908, they were able to find a large oil reserve but one year later, the concession was taken over by the Anglo-Persian oil company. During this period however, Russia and Great Britain had great rivalry over control of Persia. Both parties believed that controlling Persia could be instrumental to their military and economic interests (Danielson 2007). The British government therefore fully supported the D’Arcy concession with the hope that it could help outpace Russia in the quest for Persia. D’Arcy however faced numerous challenges including hostile terrains together with certain tribes that did not recognize the authority of Mozzafar hence not recognizing the concession. Communities that lived near the mining site had cultures that did not accommodate western ideas and presence. Tobacco concession In March 1890, the shah of Iran entered into a secret agreement with a British company, giving them concession over all the tobacco that existed in Iran. At this time, tobacco was an important commodity in the economy of Iran and therefore, signing the concession granted monopoly to the British company with regard to the exportation, internal sale and growing of the commodity. This therefore†¦

Anger of Gods Depicted in the Old Testament and Kafkas...

The anger of Gods throughout both stories leads you to believe that the Gods will not hesitate to take revenge on mankind for creating a world of evil in a world they created for good. The Gods from Metamorphoses and the God from the Old Testament create a world full of life, to live happy and full of grace. The destruction and recreation of the world by the Gods of each book, however similar they may seem, are full of differences as they both teach mankind lessons that should not be forgotten. â€Å"Whatever God it was, who brought order to the universe, and gave it division, subdivision, he molded earth† Metamorphoses pg 685. In the beginning the earth had nothing, no light to call sun, no water to bath in, and no human to walk on the†¦show more content†¦The Metamorphoses story has a longer stage of evil that makes the Gods realize the world was evil. There are four stages to the transformation from good to evil. The Golden ages had no laws, no justice, and no punishment because there was no need for these things; the world was right and all was good. The second was the Bronze Age men were content to be at home, they did not travel and there was no need for soldiers. This age split of the seasons. Jove shortened the summer, added spring, fall, and winter. The Bronze Age took on aggressiveness and men were quick to pick up weapons. The forth age was the Iron Age; â€Å"righteousness fled the earth, and in their place came trickery and slyness, plotting, swindling, violence and the demand desire of having† Metamorphoses pg 687. During the Iron Age the heavens were no longer safe, the Gods fought each other. This lead Jove to call for an intervention and the Gods did not hesitate. The Old Testament God says, that the world which he created was turning evil and knew he had to destroy man and all the living things on the earth. Noah was the only man who â€Å"found grace in the Lords eyes† Old Testament pg 57. The lord realized that Noah was full of good and decided to spare him his wife and Noah’s three sons and their wives. God also decided to save a male and a female of each animal that walked the earth. God told Noah to build an Ark that would fit all these animals,

Key Concepts in Marketing of Archibuilt

Question: Discuss about the Key Concepts in Marketing of Archibuilt. Answer: Introduction: A product basically refers to an item, which is developed or manufactured for satisfying the requirements of a particular group of customers (Blythe, 2009). In case of Archibuilt thecorporationmakes availabledesigningservices for bathrooms,preparesconstructionplans, provides renovation servicesandhouseextensions. The chief aim of the company is to ensure that the customers are fully satisfied and obtain latest services and products. Moreover, the company has different products to satisfy different needs of the customers. Price basically refers to the amount a customer is willing to shell out for a particular product or service (Blythe, 2009). In case of Archibuilt, the company makes sure that the price of products and services offered is set taking into consideration the price of the similar products and services offered in the marketplace. The price is also determined considering all the costs involved for manufacturing, distribution, promotion and final delivery to the customers. Thepricedependsonvarioussituationsanditisnotfixed duetovariationin customers income.Forexample,someprograms cost $1000andsomeprogramscost$2000.Normally,thecompanysendsemailwithdetailedfixedquote to the client.The companycanalsochargeonhourlybasis accordingtotheguestsrequests.Forinstance,thepriceofinstallingbathtubis$40/hour,whereasfor installing washbasin is $70/hour.In contrasttoothersimilarcompanies,Archibuilthasrelativelylowerlabourcost andthepricequoted byArchibuiltischeaper. Archibuilt makes sure that right amount services and product are offered to right customers at right time and in right place. Sincethecompanyoperatesonsmallscale,itsmainmethodtoprovideservicesisviaInternet.Customercanalsovisit companys outlet/office for their queries. The head office of the company is is 13-15DaviesAve,SunshineNorthVIC3020. Archibuilt would operate through offices set up in different regions but the operations of all the offices would be in line with the head office. The rental fee would differ from area to area, however effort would be made to keep it minimum possible so as to save upon costs. The company would set up its offices in maximum areas possible in order to make sure that the customers can easily reach them and use the services. Promotion basically involves promoting the offered products and services among the target customers (Blythe, 2009). ArchibuiltCompanyhastheirownofficial websiteandfacebook page for promoting their brand and services.Inadditiontothis,theyalsodistributeleafletsorbusinesscards.Apart from this, the company makes use of promotion techniques such as advertisements, print ads and public relation to further promote its brand. The corporations staff members are regarded as being important part of its success and marketing efforts since they are the ones who ultimately the service. Archibuilt makes sure that is hires competent staff and provides them proper training for delivering superior services to the customers, whether they operate customer service, a support desk, copywriters, programmer and other. The operations of the company follow a proper process. Beforeprovidingaquote, Archibuilt organisesasiteinspection,anddeliverssomeessentialdocumentsofcustomersinordertounderstandcustomerneeds,suchasplans,photosandideas. Archibuilt makes sure that it offers suitable working environment to the staff members. The company also offers regular incentives and rewards to the staff members for outstanding efforts to keep them motivated to give in their best. References: Blythe, J. (2009)Key Concepts in Marketing, Los Angeles: SAGE Publications Ltd.

American Democracy Essay

American Democracy Essay American Democracy Essay Democracy is a political arrangement that, at its most basic, demands that there be collective decision making and equality in the mechanisms of coalition building and deliberation (Christiano, p.1, 2008). The strictest definition would imply that decisions are made directly by the citizens and no electoral process is employed to select legislative representatives who would, in turn, make decisions for the citizens (Christiano, p. 2, 2008). Where representatives are elected to make decisions on behalf of the electorate, such a system is defined as a republic. Although a republic system is not entirely a pure democracy, it is built on democratic principles and normative theory would argue that this distinction is irrelevant as it can be accommodated into the very definition of democracy: practical democracy can involve the election of representatives or it can involve the direct decision-making powers of a citizen class (Christiano, pp.2-4, 2008). In fact, democracy, and its more practical offshoot republicanism, both demand that there be equal political opportunity and voice and a government responsive to the demands of its citizens. Democracy is justifiable for three main reasons: it forces law and policy makers to consider the opinions, rights, and interest of virtually all interest groups within a society (strategic reason), it provides for enhanced decision making abilities as it is better able to direct decision making efforts more appropriately/correctly (epistemological reason), and it improves the collective character of citizens as they are aware that failure to think through new rules or elections could lead to catastrophic results (character improvement reason) (Christiano, pp. 2-3, 2008). The system of democracy as practiced in America holds several principles in high regard, and as such, qualifies it to being referred to as a democracy. These are: the rule of law, inalienable human rights and freedoms, a separation of powers between the three arms of government, a representative system that makes laws and acts as a check and balancing point for the Execute, the Judiciary that polices over the general population and the legislative and executive branches, a responsive government, a multi-party system, civil society freedoms, citizen and political equality, and universal suffrage (Christiano, p. 4, 2008). The American political system creates an opportunity where interest groups can compete for power. This party-based system is the basis of competition for legislative and executive mandate by the elite in the democracy system (only a few people are elected to represent voters and are thus known as the democracy elite). This system is manifest through periodic elections where voters (those who satisfy the criteria for voting, but each of whim has an equal right as the other) (Christiano, p. 9, 2008). Elections are the means by which the citizenry assesses the democratic leadership: the voters may punish or reward the leadership depending on if they were responsive to their demands or if they were responsible in their leadership. Since elections occur only in cycles, the civil society and a free press are important components of the democratic system: they challenge malpractices and expose bad leadership. The Judiciary polices over the other arms of the government: instances of where the Supreme Court ruled that a particular (Executive) policy or (Congressional) law was illegal are countless (Okpala, p. 2, 2009). Indeed, democracy is a rule by the law. As such, everybody and every institution are at the behest of the law and no one can act in contravention of it without a punitive measure. Despite this, penal punishment cannot be exacted without following due process: the accused has rights and these are protected through a fair trial process. Furthermore, every citizen has inalienable rights, many of which are revolutionary in the American context. There are social, economic, and political rights and demand that nobody should be discriminated against for any reason, be it race, religion, or any other standard of discrimination. Though the people are the supreme source of power, they are not allowed to reject the authority of the government. Additionally, every citizens should practic e own rights and freedoms without unjustly interfering with that of others. These are the premises of democracy that are evident in the American democratic model (Okpala, p. 4, 2009). The American party system has been dominated by two parties, namely, the Democratic Party and the Republican Party (Intelligencesquaredus, p.1, 2011). Though these parties have dominated American politics in one way or the other for the past two centuries, there are third parties that have an influence over provincial voting patterns. These parties range from the hilarious United States Marijuana Party to the peripheral Communist Party of the United States. These parties, numbering in the tens, could play a watchdog role or raise awareness on a number of interest issues such as taxation and healthcare. Examples include the Constitution Party that has a presence in over 30 American states and the regional Alaskan Independence Party. Despite their presence, they are generally minor and are dwarfed by the influence and resourcefulness of the two dominating forces in American politics. This two-party system ahs been the hallmark of American politics: going into the 19th century, the political arena was at the stranglehold of the Federalists and Republicans who, for all intents and purposes, were not so different in their political philosophy while the mid-19th century political crisis that eventually led to the American Civil War was due to the breakdown of the two party system of the Whigs and the American Party (that is, the Second Party System). The Whigs would eventually form the Democratic Party in opposition of the South’s clamor for an end to the onslaught on slavery. These distinctions, nevertheless, became only concrete in the post- World War I period when the Republicans managed to dominate national politics for the better part of a decade (1921-1933) (Intelligencesquaredus, p.1, 2011). Political p ositions solidified hardened even further during the Reagan era to yield the present dispensation. An understanding of this history is important because only by knowing the weaknesses of this two-party system will one be better able to appreciate its inherent faults. American history is replete with instances of how this system broke down to yield either a violent confrontation (American Civil War) or a legislative assault. An example of the latter is the impasses generated by inability of the Republicans and Democrats to reach a conclusive deal on fiscal policies in the Obama administration (Intelligencesquaredus, p.2, 2011). In effect, this two-party system has only made America ungovernable. Political compromises are becoming much more difficult to reach and with the resurgence of the Tea Party phenomenon, it is only responsible to assume that Right-wing Republicans may overshadow the conservatism of the Grand Old Party, in turn, making legislative negotiation impractical and ineffective. Clearly, the silent majority of conservative party members are muffled at every election cycle (Intelligencesquaredus, p.1, 2011). Additionally, this two-party system does not provide the electorate with sufficient alternatives, which leads to dampened voter sentiment and participation. This system is susceptible to manipulation by Big Business, meaning that public interest may be sidelined. The American model is, in this sense, far from perfect. This system is hugely dependent on the ability of citizens to make informed decision during voting. This is not always the case in electoral systems like the American one (Okpala, p. 3, 2009). Voters are held hostage by special interests and emotions and make irrational electoral decisions. The electorate is usually won over by the most charismatic candidates, meaning that it is not the most qualified candidates that usually make it to office. In addition, those adept at winning election cycles end up dominating politics. The mass media is especially culpable. It distorts the truth about certain candidates and policies, and drowns the electorate with biased, ‘expert’ information (Okpala, p. 5, 2009). Indeed, the electorate does not have the capacity nor resolve to govern a country. This is best exemplified by the present conundrum: the election cycles have failed to address the failure of public management and force leaders to make tough choices on such important issues as the financial crisis. The electorate the world over, whether in debt-stricken Greece or in America, lack the resolve to make tough decisions and usually pass the baton to the murky world of elite democratic leaders (Okpala, p. 11, 2009). Leaders brave enough to propose tough measures such as austerity and equitable taxing of the rich and wealthy find themselves unpopular. Leaders are also incentivized to prop up populist polices to shore up their popularity. This is usually done by ramping up the entitlements spending. Entitlements, in turn, push the deficit burden and, despite this retrogressive development, the electorate still elects such leaders (back) into office. The democratic system also creates persistent minorities. These are the class of the electorate that loses after every election cycle. A candid example is the Indigenous Americans that live amidst a highly urbanized and developed society (Okpala, p. 9, 2009). What this has done is that it has marginalized their interest and as a result, minorities have lower standards of quality of life, have greater inequalities of income, lower access to and success in education, and political marginalization. The end result is usually referred to as majority tyranny, but even in the absence of it, minority communities still experience largely insurmountable odds in accessing resources and influencing the course of policies and laws (Okpala, p. 8, 2009). In the U.S., however, majority tyranny is not a huge problem as affirmative actions polices, an indication that the minorities have been historically sidelined, are attempting to re-dress this issue. Another challenge with democracy in America is the effect of legislative and judicial over-reach. A number of American states are now seeking to limit voting rights come the 2012 election cycle. Georgia, for example, is seeking a reduction in the time available for voting to a mere 21 days. South Carolina, on the other hand, is seeking to place restriction on voters by demanding that they produce identification documents during voting. These restrictions are unashamedly aimed at restricting the ability of a number of interest groups from voting (Okpala, p. 8, 2009). The proponents to these voting changes claim that it will crack down on the (assumedly) fraudulent voters, that is, African-Americans, college students, Hispanics, the disabled and urban dwellers. This makes it hard for these groups to vote as they generally do not either have access to driving licenses (the disabled and urban dwellers where they public transport) for instance or identification documents themselves (such as Hispanics).The democratic model is not the best political arrangement, but easily beats the other political system for its attempt to be inclusive and representative. Do you need a custom essay on Democracy? At you can order high-quality custom written essays starting at $12/page!

Linear Solution Essays

Linear Solution Essays Linear Solution Essay Linear Solution Essay CHAPTER 8 Linear Programming Applications Teaching Suggestions Teaching Suggestion 8. 1: Importance of Formulating Large LP Problems. Since computers are used to solve virtually all business LP problems, the most important thing a student can do is to get experience in formulating a wide variety of problems. This chapter provides such a variety. Teaching Suggestion 8. 2: Note on Production Scheduling Problems. The Greenberg Motor example in this chapter is largest large problem in terms of the number of constraints, so it provides a good practice environment. An interesting feature to point out is that LP constraints are capable of tying one production period to the next. Teaching Suggestion 8. 3: Labor Planning Problem- Hong Kong Bank of Commerce. This example is a good practice tool and lead-in for the Chase Manhattan Bank case at the end of the chapter. Without this example, the case would probably overpower most students. Teaching Suggestion 8. 4: Ingredient Blending Applications. Three points can be made about the two blending examples in this chapter. First, both the diet and fuel blending problems presented here are tiny compared to huge real-world blending problems. But they do provide some sense of the issues to be faced. Second, diet problems that are missing the constraints that force variety into the diet can be terribly embarrassing. It has been said that a hospital in New Orleans ended up with an LP solution to feed each patient only castor oil for dinner because analysts neglected to add constraints forcing a well-rounded diet. Alternative Examples Alternative Example 8. 1:  Ã‚  Natural Furniture Company manufactures three outdoor products, chairs, benches, and tables. Each product must pass through the following departments before it is shipped: sawing, sanding, assembly, and painting. The time requirements (in hours) are summarized in the tables below. The production time available in each department each week and the minimum weekly production requirement to fulfill contracts are as follows: | | |Minimum | | |Capacity | |Production | |Department |(In Hours) |Product |Level | |Sawing |450 |Chairs |100 | |Sanding |400 |Benches |50 | |Assembly |625 |Tables |50 | |Painting |550 | | | |Hours Required |Unit | |Product |Sawing |Sanding |Assembly |Painting |Profit | |Chairs |1. 5 |1. 0 |2. 0 |1. 5 |$15 | |Benches |1. 5 |1. 5 |2. 0 |2. 0 |$10 | |Tables |2. 0 |2. 0 |2. 5 |2. 0 |$20 | The production manager has the responsibility of specifying production levels for each product for the coming week. Formulate as a linear programming problem to maximize profit. Let X1= Number of chairs produced X2= Number of benches produced X3= Number of tables produced The objective function is Maximize profit = 15X1 + 10X2 + 20X3 Constraints 1. 5X1 + 1. 5X2 + 2. 0X3( 450 hours of sawing available 1. 0X1 + 1. 5X2 + 2. 0X3( 400 hours of sanding available 2. 0X1 + 2. 0X2 + 2. 5X3( 625 hours of assembly available 1. 5X1 + 2. 0X2 + 2. 0X3( 550 hours of painting available X1+ 2. 0X2 + 2. 0X3( 100 chairs X2 + 2. 0X3( 50 benches X3( 50 tables X1, X2, X3( 0 What mix of products would yield maximum profit? Solving with computer software we get: X1= 100 chairs; X2 = 50 benches; X3 = 112. 5 tables; profit = 4250. Alternative Example 8. 2:  Ã‚  A phosphate manufacturer produces three grades of phosphate, A, B, and C, which yield profit of $40, $50, and $60 per kilogram, respectively. The products require the labor and materials per batch that are shown in the table. Each batch of Grade A phosphate yields 800kg of phosphate; each batch of Grade B phosphate yields 700kg of phosphate; and each batch of Grade C phosphate yields 800 kg. |Grade |Grade |Grade |Available | | |A |B |C |Resources | |Labor hours |4 |4 |5 |80 hr | |Raw material #1 |200 |300 |300 |6,000 kg | |Raw material #2 |600 |400 |500 |5,000 kg | Formulate as an LP problem to maximize profit. Objective function Maximize profit = 40(800)A + 50(700)B + 60(800)C Constraints Labor:4A +4B +5C( 80 Raw material #1200A + 300B +300C( 6,000 Raw material #2600A + 400B +500C( 5,000 What mix of products would yield maximize profit? Solutions To Problems 8-1. Since the decision centers about the production of the two different cabinet models, we let X1= number of French Provincial cabinets produced each day X2= number of Danish Modern cabinets produced each day Objective: maximize revenue = $28X1 + $25X2 subject to 3X1 + 2X2( 360 hours  Ã‚  (carpentry department) [pic] X1 + 1X2( 200 hours  Ã‚  (painting department) [pic]X1 + [pic] X2( 125 hours  Ã‚  (finishing department) X1( 60 units  Ã‚  (contract requirement) X2( 60 units  Ã‚  (contract requirement) X1, X2( 0 Problem 8-1 solved by computer: Produce 60 French Provincial cabinets (X1) per day Produce 90 Danish Modern cabinets (X2) per day Revenue = $3,930 8-2. Let X1= dollars invested in Los Angeles municipal bonds X2= dollars invested in Thompson Electronics X3= dollars invested in United Aerospace X4= dollars invested in Palmer Drugs X5= dollars invested in Happy Days Nursing Homes Maximize return = 0. 53X1 + 0. 068X2 + 0. 049X3 + 0. 084X4 + 0. 118X5 subject to X1 + X2 + X3 + X4 + X5 ( $250,000 (funds) X1( . 2 (X1 + X2 + X3 + X4 + X5) (bonds) or ( . 8X1 – . 2X2 – . 2X3 – . 2X4 – . 2X5 ( 0 X2 + X3 + X4( . 4 (X1 + X2 + X3 + X4 + X5) (combination of electronics, aerospace, and drugs) or –0. 4X1 + 0. 6X2 + 0. 6X3 + 0. 6X4 – 0. 4X5 ( 0 (X5 ( 0. 5X1) rewritten as –0. 5X1 + X5 ( 0 (nursing home as percent of bonds) X1, X2, X3, X4, X5 ( 0 Problem 8-2 solved by computer: $50,000invested in Los Angeles municipal bonds (X1) $0invested in Tho mpson Electronics (X2) $0invested in United Aerospace (X3) 175,000invested in Palmer Drugs (X4) $25,000invested in Happy Days (X5) This produces an annual return on investment of $20,300. 8-3. Minimize staff size = X1 + X2 + X3 + X4 + X5 + X6 where Xi = number of workers reporting for start of work at period i (with i = 1, 2, 3, 4, 5, or 6) X1 + X2 ( 12 X2 + X3 ( 16 X3 + X4 (   9 X4 + X5 ( 11 X5 + X6 (   4 X1 + X6 ( 3 All variables ( 0 The computer solution is to hire 30 workers: 16 begin at 7 a. m. 9 begin at 3 p. m. 2 begin at 7 p. m. 3 begin at 11 p. m. An alternative optimum is 3 begin at 3 a. m. 9 begin at 7 a. m. 7 begin at 11 a. m. begin at 3 p. m. 9 begin at 7 p. m. 0 begin at 11 p. m. 8-4. Let X1= number of pounds of oat product per horse each day X2= number of pounds of enriched grain per horse each day X3= number of pounds of mineral product per horse each day Minimize cost = 0. 09X1 + 0. 14X2 + 0. 17X3 subject to 2X1+ 3X2 + 1X3 ( 6 (ingredient A) [pic]X1+ 1X2 + [pic]X3 ( 2 (ingredient B) 3X1+ 5X2 + 6X3 ( 9 (ingredient C) 1X1+ 1[pic]X2 + 2X3 ( 8 (ingredient D) [pic]X1+ [pic]X2 + 1[pic]X3 ( 5 (ingredient E) X1+ X2 +X3 ( 6 (maximum feed/day) All variables ( 0 Solution: X1= 1[pic] X2= 0 X3= 3[pic] cost= 0. 87 8-5. Let E1, E2, and E3 represent the ending inventory for the three months respectively. Let RT1, RT2, and RT3 represent the reguar production for the three months and OT1, OT2, an d OT3 represent the overtime production quantities during the three months respectively. Then the formulation is: Minimize cost: 300RT1 + 300RT2 + 300RT3 + 325OT1 + 325OT2 + 325OT3 + 20E1 + 20E2 + 20E3 subject to RT1 lt; 200 June regular production RT2 lt; 200 July regular production RT3 lt; 200 August regular production OT1 lt; 15 June overtime production OT2 lt; 15 July overtime production OT3 lt; 15 August overtime production (E1 + RT1 + OT1= 195 Ending inventory from first month (E2 + E1 + RT2 + OT2= 215 Ending inventory from second month (E3 + E2 + RT3 + OT3= 205 Ending inventory from third month {All variables}? 0 Non-negativity constraints The optimal production schedule is to produce 200 each month during regular production and to use overtime to produce 10 units in July and 5 in August for a total cost of $184,975. 8-6. Let T = number of TV ads R = number of radio ads B = number of billboard ads N = number of newspaper ads Maximize total audience = 30,000T + 22,000R + 24,000B + 8,000N Subject to 800T + 400R + 500B + 100N ( 15,000 ? ( 10 R (10 ? (10 ? (10 ? + R ( 6 500B + 100N ( 800T ?, R, ? , ? ( 0 Solution: T = 6. 875; R = 10; B = 9; N = 10; Audience reached = 722,250. If integer solutions are necessary, integer programming (see Chapter 11) could be used. 8-7. Let_X1= number of newspaper ads placed X2= number of TV spots purchased Minimize cost =$925X1 + $2,000X2 subject to0. 04X1 + 0. 05X2 ( 0. 40 (city exposure) 0. 03X1 + 0. 03X2 ( 0. 60 (exposure in northwest suburbs) X1, X2 ( 0 Note that the problem is not limited to unduplicated exposure (e. g. one person seeing the Sunday newspaper three weeks in a row counts for three exposures). Problem 8-7 solved by computer: Buy 20 Sunday newspaper ads (X1) Buy 0 TV ads (X2) This has a cost of $18,500. Perhaps the paint store should consider a blend of TV and newspaper, not just the latter. 8-8. Let Xij = number of new leases in month i for j-months, i = 1, . . . , 6; j = 3, 4, 5 Minimize cost =1260X13 + 1260X23 + 1260X 33 + 1260X43 + 840X53 + 420X63 + 1600X14 + 1600X24 + 1600X34 + 1200X44 + 800X54 + 400X64+ 1850X15 + 1850X25 + 1480X35 + 1110X45 + 740X55 + 370X65 subject to:X13 + X14 + X15 ( 420 – 390 X13 + X14 + X15 + X23 + X24 + X25 ( 400 – 270 X13 + X14 + X15 + X23 + X24 + X25 + X33 + X34 + X35 ( 430 – 130 X14 + X15 + X23 + X24 + X25 + X33 + X34 + X35 + X43 + X44 + X45 ( 460 X15 + X24 + X25 + X33 + X34 + X35 + X43 + X44 + X45 + X53 + X54 + X55 ( 470 X25 + X34 + X35 + X43 + X44 + X45 + X53 + X54 + X55 + X63 + X64 + X65 ( 440 X15 + X25 + X35 + X45 + X55 + X65 ( 0. 0(X13 + X14 + X15 + X23 + X24 + X25 + X33 + X34 + X35 + X43 + X44 + X45 + X53 + X54 + X55 + X63 + X64 + X65) All variables ( 0 Solving this on the computer results in the following solution: X15 = 305-month leases in March X25 = 1005-month leases in April X35 = 1705-month leases in May X45 = 1605-month leases in June X55 = 105-month leases in July All other variables equal 0. Total cost = $677,100. As a result of this, there are 440 cars remaining at the end of August. 8-9. The linear program has the same constraints as in problem 8-8. The objective function changes and is now: Minimize cost =1260(X13 + X23 + X33 + X43 + X53 + X63) + 1600(X14 + X24 + X34 + X44 + X54 + X64) + 1850(X15 + X25 + X35 + X45 + X55 + X65) Solving this on the computer results in the following solution: X15 = 305-month leases in March X25 = 1005-month leases in April X34 = 654-month leases in May X35 = 1055-month leases in May X43 = 1603-month leases in June X53 = 103-month leases in July All other variables equal 0. Total cost = $752,950. 8-10. Let Xij = number of students bused from sector i to school j Objective: minimize total travel miles = 5XAB+ 8XAC + 6XAE 0XBB+ 4XBC + 12XBE + 4XCB+ 0XCC + 7XCE + 7XDB+ 2XDC + 5XDE + 12XEB+ 7XEC + 0XEE subject to XAB + XAC + XAE= 700 (number of students in sector A) XBB + XBC + XBE= 500 (number of students in sector B) XCB + XCC + XCE= 100 (number of students in sector C) XDB + XDC + XDE= 800 (number of students in sector D) XEB + XEC + XEE= 400 (number students in sector E) XAB + XBB + XCB + XDB + XEB ( 900 (school B capacity) XAC + XBC + XCC + XDC + XEC ( 900 (school C capacity) XAE + XBE + XCE + XDE + XEE ( 900 (school E capacity) All variables ( 0 Solution: XAB= 400 XAE= 300 XBB= 500 XCC= 100 XDC= 800 XEE= 400 Distance = 5,400 â€Å"student miles† 8-11. Maximize number of rolls of Supertrex sold = 20X1 + 6. 8X2 + 12X3 – 65,000X4 whereX1= dollars spent on advertising X2= dollars spent on store displays X3= dollars in inventory X4= percent markup subject to X1 + X2 + X3 ( $17,000 (budgeted) X1( $3,000 (advertising constraint) X2( 0. 05X3 (or X2 – 0. 05X3 ( 0) (ratio of displays to inventory) [pic] (markup ranges) X1, X2, X3, X4 ( 0 Problem 8-11 solved by computer: Spend $17,000 on advertising (X1). Spend nothing on in-store displays or on-hand inventory (X2 and X3). Take a 20% markup. The store will sell 327,000 rolls of Supertrex. This solution implies that no on-hand inventory or displays are needed to sell the product, probably due to an oversight on Mr. Kruger’s part. Perhaps a constraint indicating that X3 ( $3,000 of inventory should be held might be needed. 8-12. Minimize total cost = $0. 60X1 + 2. 35X2 + 1. 15X3 + 2. 25X4 + 0. 58X5 + 1. 17X6 + 0. 33X7 subject to 295X1 + 1,216X2 + 394X3 +358X4 + 128X5+ 118X6 + 279X7 ( 1,500 295X1 + 1,216X2 + 394X3 +358X4 + 128X5+ 118X6 + 279X7 ( 900 .2X1 + 121. 2X2 + . 4. 3X3 + 3. 2X4 + 3. 2X5+ 14. 1X6 + 2. 2X7 ( 4 16X1 +1,296X2 + . 4. 9X3 + 0. 5X4 + 0. 8X5+ 1. 4X6 + 0. 5X7 ( 50 6X1 + 81X2 + 74X3 + 83X4 + 7X5+ 14X6 +  8X7 ( 26 22X1 + 28X5 + 19X6 + 63X7( 50 All Xi ( 0 Problem 8-12 solved by computer: The meal plan for the evening is No milk (X1 = 0) 0. 499 pound of ground meat (X2) 0. 173 pound of chicken (X3) No fish (X4 = 0) No beans (X5 = 0) 0. 105 pound of spinach (X6) 0. 762 pound of white potatoes (X7) Each meal has a cost of $1. 75. The meal is fairly well -balanced (two meats, a green vegetable, and a potato). The weight of each item is realistic. This problem is very sensitive to changing food prices. Sensitivity analysis when prices change: Milk increases 10 cents/lb: no change in price or diet Milk decreases 10 cents/lb: no change in price or diet Milk decreases 30 cents/lb (to 30 cents): potatoes drop out and milk enters, price = $1. 42/meal Ground meat increases from $2. 35 to $2. 75: price = $1. 93 and spinach leaves the optimal solution Ground meat increases to $5. 25/lb: price = $2. 07 and meat leaves; milk, chicken, and potatoes in solution Fish decreases from $2. 25 to $2. 00/lb: no change Chicken increases to $3. 00/lb: price = $1. 91 and meat, fish, spinach, and potatoes in solution If meat and fish are omitted from the problem, the solution is chicken= 0. 774 lb milk= 1. 891 lb potatoes= 0. 33 lb If chicken and meat are omitted; fish= 0. 679 lb spinach= 0. 0988 lb milk= 2. 188 lb 8-13. a. Let X1= no. of units of internal modems produced per week X2= no. of units of external modems produced per week X3= no. of units of circuit boards produced per week X4= no. of units of floppy disk drives produced per week X5= no. of units of hard drives produced per week X6= no. of units of memory boards produced per week Objective function analysis: First find the time used on each test device: hours on test device 1 [pic] hours on test device 2 [pic] hours on test device 3 [pic] Thus, the objective function is aximize profit = (revenue) – (material cost) – )test cost) = (200X1 + 120X2 + 180X3 + 130X4 + 430X5 + 260X6 – 35X1 – 25X2 – 40X3 – 45X4 – 170X5 – 60X6)[pic] [pic] [pic] This can be rewritten as maximize profit =$161. 35X1 + 92. 95X2 + 135. 50X3 + 82. 50X4 + 249. 80X5 + 191. 75X6 subject to 7X1 + 3X2 + 12X3 + 6X4 + 18X5 + 17X6 lt; 120(60) Minutes on test device 1 2X1 + 5X2 + 3X3 + 2X4 + 15X5 + 17X6 lt; 120(60) Minutes on test device 2 5X1 + 1X2 + 3X3 + 2X4 + 9X5 + 2X6 lt; 100(60) Minutes on test device 3 All variables ( 0 b. The solution is X1= 496. 55 internal modems X2= 1,241. 38 external modems X3 through X6= 0 profit= $195,504. 80 c. The shadow prices, as explained in Chapter 7 and Module 7, for additional time on the three test devices are $21. 41, $5. 75, and $0, respectively, per minute. 8-14. a. Let Xi = no. of trained technicians available at start of month i Yi = no. of trainees beginning in month i Minimize total salaries paid = $2,000X1 + 2,000X2 + 2,000X3 + 2,000X4 + 2,000X5 + 900Y1 + 900Y2 + 900Y3 + 900Y4 + 900Y5 subject to 130X1 – 90Y1( 40,000 (Aug. need, hours) 130X2 – 90Y2( 45,000 (Sept. need) 130X3 – 90Y3( 35,000 (Oct. need) 130X4 – 90Y4( 50,000 (Nov. need) 130X5 – 90Y5( 45,000 (Dec. eed) X1= 350 (starting staff on Aug. 1) X2= X1 + Y1 – 0. 05X1 (staff on Sept. 1) X3= X2 + Y2 – 0. 05X2 (staff on Oct. 1) X4= X3 + Y3 – 0. 05X3 (staff on Nov. 1) X5= X4 + Y4 – 0. 05X4 (staff on Dec. 1) All Xi, Yi ( 0 b. The computer-generated results are: | |Trained | | | |Technicians |Trainees | |Month |Available |Beg inning | |Aug. 350 |13. 7 (actually 14) | |Sept. |346. 2 |0 | |Oct. |328. 8 |72. 2 (actually 72) | |Nov. |384. 6 |0 | |Dec. |365. 4 |0 | Total salaries paid over the five-month period = $3,627,279. 8-15. a. Let Xij = acres of crop i planted on parcel j wherei = 1 for wheat, 2 for alfalfa, 3 for barley = 1 to 5 for SE, N, NW, W, and SW parcels Irrigation limits: 1. 6X11 + 2. 9X21 + 3. 5X31( 3,200 acre-feet in SE 1. 6X12 + 2. 9X22 + 3. 5X32( 3,400 acre-feet in N 1. 6X13 + 2. 9X23 + 3. 5X33( 800 acre-feet in NW 1. 6X14 + 2. 9X24 + 3. 5X34( 500 acre-feet in W 1. 6X15 + 2. 9X25 + 3. 5X35( 600 acre-feet in SW [pic] water acre-feet total Sales limits: X11 + X12 + X13 + X14 + X15 ( 2,200 wheat in acres (= 110,000 bushels) X21 + X22 + X23 + X24 + X25 ( 1,200 alfalfa in acres (= 1,800 tons) X31 + X32 + X33 + X34 + X35 ( 1,000 barley in acres (= 2,200 tons) Acreage availability: X11 + X21 + X31( 2,000 acres in SE parcel X12 + X22 + X32( 2,300 acres in N parcel X13 + X23 + X33( 600 acres in NW parcel X14 + X24 + X34( 1,100 acres in W parcel X15 + X25 + X35( 500 acres in SW parcel Objective function: maximize profit [pic] b. The solution is to plant X12= 1,250 acres of wheat in N parcel X13= 500 acres of wheat in NW parcel X14= 312[pic] acres of wheat in W parcel X15= 137[pic] acres of wheat in SW parcel X25= 131 acres of alfalfa in SW parcel X31= 600 acres of barley in SE parcel X32= 400 acres of barley in N parcel Profit will be $337,862. 10. Multiple optimal solutions exist. c. Yes, need only 500 more water-feet. 8-16. Amalgamated’s blending problem will have eight variables and 11 constraints. The eight variables correspond to the eight materials available (three alloys, two irons, three carbides) that can be selected for the blend. Six of the constraints deal with maximum and minimum quality limits, one deals with the 2,000 pound total weight restriction, and four deal with the weight availability limits for alloy 2 (300 lb), carbide 1 (50 lb), carbide 2 (200 lb), and carbide 3 (100 lb). Let X1 through X8 represent pounds of alloy 1 through pounds of carbide 3 to be used in the blend. Minimize cost = 0. 12X1 + 0. 13X2 + 0. 15X3 + 0. 09X4 + 0. 07X5 + 0. 10X6 + 0. 12X7 + 0. 09X8 subject to manganese quality: 1  Ã‚  0. 70X1 + 0. 55X2 + 0. 12X3 + 0. 01X4 + 0. 05X5 ( 42 (2. 1% of 2,000) 2  Ã‚  0. 70X1 + 0. 55X2 + 0. 12X3 + 0. 01X4 + 0. 05X5 ( 46 (2. 3% of 2,000) silicon quality: 3  Ã‚  0. 15X1 + 0. 30X2 + 0. 26X3 + 0. 10X4 + 0. 025X5 + 0. 24X6 + 0. 25X7 + 0. 23X8 ( 86 (4. 3% of 2,000) 4  Ã‚  0. 15X1 + 0. 30X2 + 0. 26X3 + 0. 10X4 + 0. 025X5 + 0. 24X6 + 0. 25X7 + 0. 23X8 ( 92 (4. 6% of 2,000) carbon quality: 5  Ã‚  0. 03X1 + 0. 01X2 + 0. 03X4 + 0. 18X6 + 0. 20X7 + 0. 25X8 ( 101 (5. 5% of 2,000) 6  Ã‚  0. 03X1 + 0. 01X2 + 0. 03X4 + 0. 18X6 + 0. 20X7 + 0. 25X8 ( 107 (5. 35% of 2,000) Availability by weight: 7  Ã‚  X2 ( 300 8  Ã‚  X6 ( 50 9  Ã‚  X7 ( 200 10  Ã‚  X8 ( 100 One-ton weight: 11  Ã‚  X1 + X2 + X3 + X4 + X5 + X6 + X7 + X8 = 2,000 The solution is infeasible. 8-17. This problem refers to Problem 8-16’s infeasibility. Some investigative w ork is needed to track down the issues. The two issues are: 1. Requiring at least 5. 05% carbon is not possible. 2. Producing 1 ton from the materials is not possible. If constraints 5 and 11 are relaxed (or removed), one solution is X2 = 83. lb (alloy 2), X6 = 50 lb (carbide 1), X7 = 83. 6 lb (carbide 2), and X8 = 100 lb (carbide 3). Cost = $34. 91. Each student may take a different approach and other recommendations may result. 8-18. X1= number of medical patients X2= number of surgical patients Maximize revenue = $2,280X1 + $1,515X2 subject to 8X1 + 5X2( 32,850 (patient-days available = 365 days ( 90 new beds) 3. 1X1 + 2. 6X2 ( 15,000 (lab tests) 1X1 + 2X2( 7,000 (x-rays) X2( 2,800 (operations/surgeries) X1, X2( 0 Problem 8-18 solved by computer: X1= 2,791 medical patients X2= 2,105 surgical patients revenue= $9,551,659 per year To convert X1 and X2 to number of medical versus surgical beds, find the total number of hospital days for each type of patient: medical= (2,791 patients)(8 days/patient) = 22,328 days surgical= (2,105 patients)(5 days/patient) = 10,525 days total= 32,853 days This represents 68% medical days and 32% surgical days, which yields 61 medical beds and 29 surgical beds. (Note that an alternative approach would be to formulate with X1, X2 as number of beds. ) See the printout on the next page for the solution and sensitivity analysis. 8-19. This problem, suggested by Professor C. Vertullo, is an excellent exercise in report writing. Here is a chance for students to present management science results in a management format. Basically, the following issues need to be addressed in any report: (a)  Ã‚  As seen in Problem 8-18, there should be 61 medical and 29 surgical beds, yielding $9,551,659 per year. (b)  Ã‚  Referring to the QM for Windows printout, there are no empty beds because the slack for constrain 1 has a value of 0.. (c)  Ã‚  There are 876 (the slack for constraint 2) lab tests of unused capacity. (d)  Ã‚  The x-ray is used to its maximum (slack for constraint 3 is 0) and has a $65. 5 dual price. The revenue would increase by this amount for each additional x-ray. (e)  Ã‚  The operating room still has 695 operations available (the slack for constraint 4). [pic] [pic] 8-20. For the Low Knock Oil Company example it was originally assumed that a one to one ratio of raw materials (crude oil) to finished goods (gasoline). In reality, that ratio is closer to 46%. Hence, the example problem needs to be modified with 0. 46 as the coefficient throughout the first two constraints as follows: Minimize 30X1 + 30X2 + 34. 80X3 + 34. 80X4 subject to: 0. 46X1 + 0. 46X3( 25000 0. 46X2+ 0. 46X4( 32000 0. 10 X1 + 0. 15X3 ( 0 0. 05X2 – 0. 25X4 ( 0 The rounded solution is X1 = 32609; X2 = 57971; X3 = 21739; X4 = 11594; Cost = 3877391 8-21. Minimize time = 12XA1 + 11XA2 + 8XA3 + 9XA4 + 6XA5 + 6XA6 + 6XG1 + 12XG2 + 7XG3 + 7XG4 + 5XG5 + 8XG6 + 8XS1 + 9XS2 + 6XS3 + 6XS4 + 7XS5 + 9XS6 subject to XA1+ XA2+ XA3+ XA4+ XA5+ XA6= 200 XG1+ XG2+ XG3+ XG4 + XG5+ XG6= 225 XS1+ XS2+ XS3+ XS4+ XS5+ XS6= 275 XA1+ XG1+ XS1= 80 XA2+ XG2+ XS2= 120 XA3+ XG3+ XS3= 150 XA4+ XG4+ XS4= 210 XA5+ XG5+ XS5= 60 XA6+ XG6+ XS6= 80 All variables ( 0 Solution: |Source |Destination |Number of |(Station) |(Wing) |Trays | |5A |5 |60 | |5A |6 |80 | |5A |3 |60 | |3G |1 |80 | |3G |3 |90 | |3G |4 |55 | |1S |4 |155 | |1S |2 |120 | Optimal cost = 4,825 minutes. Multiple op timal solutions exist. 8-22. Let Xi = proportion of investment invested in stock i for i = 1, 2, . . . , 5 Minimize beta = 1. 2X1 + 0. 85X2 + 0. 55X3 + 1. 40X4 + 1. 25X5 subject to X1 + X2 + X3 + X4 + X5 = 1total of the proportions must add to 1 0. 11X1 + 0. 09X2 + 0. 065X3 + 0. 15X4 + 0. 13X5 ( 0. 11return should be at least 11% X1 ( 0. 5no more than 35% in any single stock X2 ( 0. 35 X3 ( 0. 35 X4 ( 0. 35 X5 ( 0. 35 Xi ( 0 for i = 1, 2, . . . , 5 b. Solving this on the computer, we have X1 = 0 X2 = 0. 10625 X3 = 0. 35 X4 = 0. 35 X5 = 0. 19375 Minimum beta = 1. 015 Return = 0. 11(0) + 0. 09(0. 10625) + 0. 065(0. 35) + 0. 15(0. 35) + 0. 13(0. 19375) = 0. 11 8-23. Let A = 1,000 gallons of fuel to purchase in Atlanta L = 1,000 gallons of fuel to purchase in Los Angeles H = 1,000 gallons of fuel to purchase in Houston N = 1,000 gallons of fuel to purchase in New Orleans FA = fuel remaining when plane lands in Atlanta FL = fuel remaining when plane lands in Los Angeles FH = fuel remaini ng when plane lands in Houston FN = fuel remaining when plane lands in New Orleans Minimize cost = 4. 15A + 4. 25L + 4. 10H + 4. 18N subject to A + FA ( 24minimum amount of fuel on board when leaving Atlanta A + FA ( 36maximum amount of fuel on board when leaving Atlanta L + FL ( 15minimum amount of fuel on board when leaving Los Angeles L + FL ( 23maximum amount of fuel on board when leaving Los Angeles H + FH ( 9minimum amount of fuel on board when leaving Houston H + FH ( 17maximum amount of fuel on board when leaving Houston N + FN ( 11minimum amount of fuel on board when leaving New Orleans N + FN ( 20maximum amount of fuel on board when leaving New Orleans FL = A + FA – (12 + 0. 05(A + FA – 24)) This says that the fuel on board when the plane lands in Los Angeles will equal the amount on board at take-off minus the fuel consumed on that flight. The fuel consumed is 12 (thousand gallons) plus 5% of the excess above 24 (thousand gallons). This simplifies to: 0. 95A + 0. 95 FA – FL = 10. 8 Similarly, FH = L + FL – (7 + 0. 05(L + FL – 15)) becomes 0. 95L + 0. 95FL – FH = 6. 25 FN = H + FH – (3 + 0. 05(H + FH – 9)) becomes 0. 95H + 0. 95FH – FN = 2. 55 FA = N + FN – (5 + 0. 05(N + FN – 11)) becomes 0. 95N + 0. 95FN – FA = 4. 45 All variables ( 0 The optimal solution is A=18 (1,000 gallons of fuel to purchase in Atlanta) FA=6 (1,000 gallons of fuel remaining when plane lands in Atlanta) L=3 (1,000 gallons of fuel to purchase in Los Angeles) FL=12 (1,000 gallons of fuel remaining when plane lands in Los Angeles) H=1 (1,000 gallons of fuel to purchase in Houston) FH=8 (1,000 gallons of fuel remaining when plane lands in Houston) N=5 (1,000 gallons of fuel to purchase in New Orleans) FN=6 (1,000 gallons of fuel remaining when plane lands in New Orleans) Total cost = 112. 45 (( 1,000) Solutions to Internet Homework Problems 8-24. Let X1 = number of Chaunceys mixed X2= number of Sweet Italians mixed X3= number of bourbon on the rocks mixed X4= number of Russian martinis mixed Maximize total drinks = X1 + X2 + X3 + X4 subject to 1X1 +4X3 ( 52 oz (bourbon limit) 1X1 +1X2 ( 38 oz (brandy limit) 1X1 +2[pic]X4 ( 64 oz (vodka limit) X2 +1[pic]X4 ( 24 oz (dry vermouth limit) 1X1 +2X2 ( 36 oz (sweet vermouth limit) All variables ( 0 Because a Chauncey (X1) is [pic] sweet vermouth, it requires 1 oz of that resource (each drink totals 4 oz). Problem 8-27 solved by computer: Mix 25. 99 (or 26) Chaunceys (X1) Mix   5. 00 (or 5) Sweet Italians (X2) Mix   6. 50 (or 6[pic]) bourbon on the rocks (X3) Mix 14. 25 (or 14[pic]) Russian martinis (X4) This is a total of 51. 75 drinks (in five iterations). 8-25. Minimize 6X11 + 8X12 + 10X13 + 7X21 + 11X22 + 11X23 + 4X31 + 5X32 + 12X33 subject to X11 + X12 + X13( 150 X21 + X22 + X23( 175 X31 + X32 + X33( 275 X11 + X21 + X31= 200 X12 + X22 + X32= 100 X13 + X23 + X33= 300 All variables ( 0 The solution is: X11 = 25, X13 = 125, X23 = 175, X31 = 175, X32 = 100 Cost = $4,525. 8-26. Let Xi = number of BR54 produced in month i, for i = 1, 2, 3. Yi   = number of BR49 produced in month i, for i = 1, 2, 3. IXi = number of BR54 units in inventory at end of month i, for i = 0, 1, 2, 3. IYi = number of BR49 units in inventory at end of month i, for i = 0, 1, 2, 3. Minimize cost = 80(X1 + X2 + X3) + 95(Y1 + Y2 + Y3) + 0. 8(IX1 + IX2 + IX3) + 0. 95(IY1 + IY2 + IY3) Subject to: IX0 = 50initial inventory of BR54 IY0 = 50initial inventory of BR49 IX3 = 100ending inventory of BR54 IY3 = 150ending inventory of BR49 X1 + Y1 ( 1,100maximum production level in August X2 + Y2 ( 1,100maximum production level in September X3 + Y3 ( 1,100maximum production level in October X1 + IX0 = 320 + IX1  Ã‚  BR54 requirements for August X2 + IX1 = 740 + IX2  Ã‚  BR54 requirements for September X3 + IX2 = 500 + IX3  Ã‚  BR54 requirements for October Y1 + IY0 = 450 + IY1  Ã‚  BR49 requirements for August Y2 + IY1 = 420 + IY2  Ã‚  BR49 requirements for September Y3 + IY2 = 480 + IY3  Ã‚  BR49 requirements for October All variables ( 0 A computer solution to this results in IX0 = 50, IX1 = 190, IX2 = 130, IX3 = 100, IY0 = 50, IY3 = 150, X1 = 460, X2 = 680, X3 = 470, Y1 = 400, Y2 = 420, Y3 = 630. All other variables = 0. The total cost = $267,028. 50. Solution to Chase Manhattan Bank Case This very advanced and challenging scheduling problem can be solved most expeditiously using linear programming, preferably integer programming. Let F denote the number of full-time employees. Some number, F1, of them will work 1 hour of overtime between 5 p. m. and 6 p. m. each day and some number, F2, of the full-time employees will work overtime between 6 p. m. and 7 p. m. There will be seven sets of part-time employees; Pj will be the number of part-time employees who begin their workday at hour j, j = 1, 2, . . . , 7, with P1 being the number of workers beginning at 9 a. m. , P2 at 10 a. . , . . . , P7 at 3 p. m. Note that because part-time employees must work a minimum of 4 hours, none can start after 3 p. m. since the entire operation ends at 7 p. m. Similarly, some number of part-time employees, Qj, leave at the end of hour j, j = 4, 5, . . . , 9. The workforce requirements for the first two hours, 9 a. m. a nd 10 a. m. , are: F + P1( 14 F + P1 + P2 ( 25 At 11 a. m. half of the full-time employees go to lunch; the remaining half go at noon. For those hours: 0. 5F + P1 + P2 + P3( 26 0. 5F + P1 + P2 + P3 + P4 ( 38 Starting at 1 p. m. , some of the part-time employees begin to leave. For the remainder of the straight-time day: F + P1 + P2 + P3 + P4 + P5 – Q4( 55 F + P1 + P2 + P3 + P4 F + P1 + P2 + P5 + P6 – Q4 – Q5( 60 F + P1 + P2 + P3 + P4 + P5 F + P1 + P6 + P7 – Q4 – Q5 – Q6( 51 F + P1 + P2 + P3 + P4 + P5 + P6 F + P1 + P7 – Q4 – Q5 – Q6 – Q7( 29 For the two overtime hours: F1 + P1 + P2 + P3 + P4 + P5 + P6 F1 + P1 + P2 + P7 – Q4 – Q5 – Q6 – Q7 – Q8( 14 F2 + P1 + P2 + P3 + P4 + P5 + P6 + P7 F1 + P1 + P2 – Q4 – Q5 – Q6 – Q7 – Q8 – Q9( 9 If the left-hand sides of these 10 constraints are added, one finds that 7F hours of full-time labor are used in straight time (although 8F are paid for), F1 + F2 full-time labor hours are used and paid for at overtime rates, and the total number of part-time hours is 0P1 + 9P2 + 8P3 + 7P4 + 6P5 + 5P6 + 4P7 – 6Q4– 5Q5 – 4Q6 – 3Q7 – 2Q8 – Q9 ( 128. 4 which is 40% of the day’s total r equirement of 321 person-hours. This also leads to the objective function. The total daily labor cost which must be minimized is Z = 8(10. 11)F + 8. 08(F1 + F2) + 7. 82(10P1 + 9P2 + 8P3 + 7P4 + 6P5 + 5P6 + 4P7 – 6Q4 – 5Q5 – 4Q6 – 3Q7 – 2Q8 – Q9) Total overtime for a full-time employee is restricted to 5 hours or less, an average of 1 hour or less per day per employee. Thus the number of overtime hours worked per day cannot exceed the number of full-time employees: F1 + F2 ( F Since part-time employees must work at least 4 hours per day, Q4 ( P1 for those leaving at the end of the fourth hour. At the end of the fifth hour, those leaving must be drawn from the P1 – Q4 remaining plus the P2 that arrived at the start of the second hour: Q5 ( P1 + P2 – Q4 Similarly, for the remainder of the day, Q6( P1 + P2 + P3 – Q4 – Q5 Q7( P1 + P2 + P3 + P4 – Q4 – Q5 – Q6 Q8( P1 + P2 + P3 + P4 + P5 – Q4 – Q5 – Q6 – Q7 Q9( P1 + P2 + P3 + P4 + P5 + P6 – Q4 – Q5 – Q6 – Q7 – Q8 To ensure that all part-timers who began at 9 a. m. do not work more than 7 hours: Q4 + Q5 + Q6 + Q7 ( P1 Similarly, Q4 + Q5 + Q6+ Q7 + Q8 ( P1 + P2 Q4 + Q5 + Q+ Q7 + Q8 + Q9 ( P1 + P2 + P3 Finally, to ensure that all part-time employees leave at some time: P1 + P2 + P3 + P4 + P5 + P6 + P7 = Q4 + Q5 + Q6 + Q7 + Q8 + Q9 The resulting problem has 16 integer variables and 22 constraints. If integer programming software is not available, the linear programming problem can be solved and the solution rounded, making certain that none of the constraints have been violated. Note that the integer programming solution might also need to be adjusted- if F is an odd integer, 0. 5F will not be an integer and the requirement that â€Å"half† of the full-time employees go to lunch at 11 a. m. and the other half at noon will have to be altered by assigning the extra employee to the appropriate hour. 1. The least-cost solution requires 29 full-time employees, 9 of whom work two hours of overtime per day. In actuality, 18 of the full-time employees would work overtime on two different days and 9 would work overtime on one day. Fourteen of the full-time workers would take lunch at 11 a. m. and the other 15 would take it at noon. Eleven part-timers would begin at 11 a. m. , with 9 of them leaving at 3 p. m. and the other 2 at 4 p. m. Fifteen part-time employees would work from noon until 4 p. m. , and 5 would work from 2 p. m. until 6 p. m. The resulting cost of 232 hours of straight time, 18 hours of overtime, and 126 hours of part-time work is $3,476. 28 per day. This solution is not unique- other work assignments can be found that result in this same cost. 2. The same staffing would be used every day. In fact, one would expect different patterns to present themselves on different days; for example, Fridays are usually much busier bank days than the others. In addition, the person-hours required for each hour of the day are assumed to be deterministic. In a real situation, wide fluctuations will be experienced in a stochastic manner. The optimal solution results in a considerable amount of idle time, partly caused by the restriction that employees can start at the beginning of an hour and leave at the end. Eliminating this restriction might yield better results at the risk of increasing the problem size.

Stabilization Wedges Game Assignment Example | Topics and Well Written Essays - 2000 words - 2

Stabilization Wedges Game - Assignment Example The predicted impacts may also include the loss of the West Atlantic Ice expanse and the possibility of the unbounded increase in the incidence of category-five hurricanes. The effect of injecting carbon dioxide and other gases into the earth’s atmosphere – results in changes in the climate. This takes place, through the effect of sunlight passed onto the earth’s atmosphere, which results to the warming of the planet – as these gases hinder the transmission of the accumulated heat into outer space. This phenomenon is called the greenhouse effect, which results, most times, from the burning of fossil fuels – which are mainly composed of carbon and hydrogen. As a result, the consequence is the injection of more carbon dioxide into the atmosphere. As the situation is, the Earth’s atmosphere contains an approximate amount of 800 billion tons of Carbon in the form of Carbon dioxide. From the burning of fossil fuels, the carbon dioxide produced inj ects an extra 7 billion tons of Carbon into the universe every year. The accumulated carbon dioxide is removed from the universe through two main ways, these including that taken up by growing forests and that which is dissolved into the surface of the ocean. Unfortunately, these two channels are only, able to remove half the Carbon emitted into the atmosphere leaving the other half accumulating at an approximated rate of 4 billion tons every year. This, typically, means that the accumulated amount of carbon in the universe is increasing year after year (Socolow, Stephen & Jeffery 10). The injection of carbon dioxide into the atmosphere started at the onset of the industrial revolution. This can be proved from the figures – indicating that before the onset of the industrial revolution, the atmosphere contained approximately, 600 billion tons of carbon, which are 200 billion tons less than the presently accumulated amount.  Ã‚  

Explain the different reasons why an individual might be tempted to Essay

Explain the different reasons why an individual might be tempted to join a roscas - Essay Example The idea behind making everyone contribute is to make sure that the amount of money in the pool remains constant. Once every member has contributed a certain sum of money, then the pot which is generated out of this contribution is given to one of the members of the community as his savings for a definite period. Average membership among adults ranges between 50 and 95 percent in the Republic of Congo, Cameroon, Gambia, and villages of Liberia, Ivory Coast, Togo, and Nigeria. Although roscas do exist in areas where they are formal financial institutions, there is no denying that they still are the most important form of savings and credit institutions in the rural areas. It is a cycle which repeats itself after every round of distribution of money. So when one member gets the pot, he then has to wait for all the other members to get their share of the pot before his turn comes. This allows for stability and continuity for the community and has a uniform system of savings for the poor people. It is the most common form of informal financial institution in the world. ... â€Å"Rosca members are mostly poor individuals who have little access to formal savings and credit markets because of high transaction costs and incomplete markets. In the literature, roscas are usually regarded as a means for poor people to save money to make an indivisible expense.†(Anderson) Let us now go further into the essay and understand why people are taking up to roscas as a primary means to save money. There are three reasons which shall be looked at the paper, which are as follows: 1. Lack of Self Control 2. Lack of Alternate Commitment Saving Strategies 3. Women’s Role in the Family The first reason talks about the lack of self-control within the community for the rural people. The second reason talks about the lack of other alternatives in such villages which are either too expensive or out of reach for people to have their own savings, and therefore the people indulge in an informal means of savings within their established community. The third reason lo oks at the role of the woman in the family and explains that since they are running the house it is important for them to have a means to save, as their husbands have been notorious with their expenditure and therefore it is required that women save up to generate income in the family. (Roscas as a source of housing finance for the urban poor) Lack of Self Control: â€Å"in the absence of alternative commitment savings strategies, sophisticated people experiencing self-control problems turn to roscas since they would inde?nitely renegotiate with themselves if attempting to save money on their own† Gugerty (2007) One of the most primary reasons regarding the involvement of roscas for the people in the village community is the lack

History Germany Essay Essay Example for Free

History Germany Essay Essay How far do you agree that the new Weimar Republic was seriously threatened by political extremists in the years 1919-24? (30 marks) Between the years 1919 and 1924 the Weimar Republic experienced many threats against its new democratic regime, however it could be argued that none of the threats ever truly had the ability or support required to overthrow the new state, therefore rendering the attempts by the political extremists as not that threatening. The Weimar Republic saw the end of the Kaiser’s rule and the start of a new semi presidential and representative democratic ruling. Even dating back to the formation of Germany in 1870, the foundation of German Politics and power has always lain with the elites and middle class of the population. With the new Weimar Republic these elites were supposed to lose their power and control due to the democratic regime, however this did not actually happen. Therefore any political extremists that threatened the system, and in turn threatened the elite’s power, were dealt with in harsh manners. During the trials from the 1920 Putch over seven hundred people went to trial however only one person was convicted and given five years in prison. Since the Putch would have been an act of treason, and under German law, the punishment should have been death, however the fact there was so little convictions and such lenient punishments suggests just how strong the elite’s power still was and how strong the Weimar Republic would have been with the elite’s power backing it, but they would only do this as long as things were benefiting them. The Kapp- Là ¼ttwitz Putch of 1920 did lead to an exposure of the army’s reluctance to support the Weimar Republic due to the fact the army was ordered to act by Noske, the Defence Minister, however the leaders of the military refused to get involved and instead remained neutral. This therefore would have planted a seed of doubt into people’s minds as to how good the Republic would be as not even the army were going to protect it, which then would lead some people to feel unprotected and vulnerable, and  could have led to people turning against the democratic system and instead turning back to the old ways of running the country. Yet, this was not the case therefore suggesting that the Kapp- Là ¼ttwitz Putch did not pose as being that significant of a threat. The Munich Beer Hall Putch could be argued as being doomed from the start and therefore never truly being a serious threat. From the beginning and throughout it never had the support of the German people, with only a small number of people supporting their cause. Seeckt also used his powers to command the army to resist the Putch and with the combination of the Bavarian Police and the army the Putch was crushed easily with minimal deaths. However, in the end Hitler was arrested on charges of treason (again meaning the punishment under German law should have been death) and he only received a five year prison sentence yet he was released after just nine months. This again showed that the political power was with the elites and that the Weimar Republic was not as strong as first thought, yet the public were still willing to keep the democratic state in place and give it a chance to work. Therefore it could be argued that as long as people had a belief in the Weimar Republic and were willing to support it then any attempts by political extremists would never have been that successful and therefore they were never truly much of a threat. In conclusion, although the Weimar Republic did indeed experience many threats from political extremists, with some seemingly serious threats against it which showed the many flaws in the system such as the power of the elites and the army’s standing in the new regime, yet none of the attempts had enough public support backing them to have a serious impact. They just didn’t have enough public support as people, especially of the working classes, believed in their new democratic system, and wanted to give it enough time to start to evoke changes that would benefit them in the long run. Therefore the attempts could not have had enough of an impact to name them as being serious threats against their new democratic state.

Refuge Camps :: essays research papers

â€Å"Refuge Camps†   Ã‚  Ã‚  Ã‚  Ã‚  There is a foreboding and ongoing crisis facing several third world countries today. This crisis is the rising amount of famine and health ailments that affect hundreds of thousands of individuals that face malnutrition, poverty, and several other serious problems that you will find in developing countries. Countless diseases plague today’s world and the people who are most vulnerable to these diseases are also the ones that need the most help. Despite the lack of funds and limited aid available to these people, there is hope. A group by the name of Doctors Without Borders is a non-profit organization that provides free health care in Refugee camps to the great amount of need and helpless individuals that populate our world. Doctors Without Borders (DWB) is comprised of fully qualified and credentialed medical doctors from around the world. They travel internationally educating broad audiences by offering seminars and lectures based on their goal and purpose. The organization is also composed of 2,000 volunteers who are enrolled and sent out annually throughout the world. The organization's main goal is to aid the several million refugees that reside in numerous developing countries. These refugees flee from their countries due to natural disasters, extreme poverty and persecution that infects their home countries. DWB helps these individuals by setting up camps and shelters where they can seek refuge. The camps that DWB setup provide everything needed for survival. They provide clean water and healthy food for all the refugees. Since water and food is limited at the camps, refugees are only provided with minimal supplies for survival. There is a medical station, where they provide all the necessary vaccines and treatments for most illnesses and diseases. The refugees are given identification cards, which they need to show in order to get food and water. The camps are well organized and all the members work together to provide an adequate living environment These are many dangerous diseases that infect third world countries and Refugee camps. Two of these are cholera and malaria. Cholera is a very dangerous disease that affects a lot of the refugees. Cholera is very contagious and about 50% of people infected with the bacteria die. In underdeveloped countries like Africa, diseases are everywhere. Most cholera deaths occur due to poor sanitation. In one incident, in Rwanda, there was an estimated 1000 deaths per day caused by cholera. If caught in time it can be cured.

Effectiveness of Time and Financial Management Essay

The researchers chose 7 different scholars to conduct a survey about the chosen topic. Most of the respondents came from student assistant’s category and the others came from the category of academic scholars. These scholars were given scholarships from Ozanam Study Grant Program and Megaworld Foundation. On the range of their ages, 17-22 years old were the students who were given an opportunity they wanted to have. The scholars being interviewed have a daily allowance of more or less 150 pesos. On the Graph 1.1 being shown below are some of the expenses of the following students. Graph 1.1 A little number of respondents said that they stay in boarding houses that cost them Php 1,600 to Php 1,700. Literally, the cost was being solved by their parents. 3 out of 7 students said that both of their parents are self-employed. 1 respondent said that his/her parents run a business and another corresponds to unemployed parents. The rest of the students match up on other answers like their father/mother neither is an overseas Filipino worker, a tricycle driver, a plain housewife nor was deceased. Researchers proceed to the monthly income of their parents in able to measure the financial background of each and every respondent. Graph 1.2 illustrates the possible monthly income of the parents of these learners. Graph 1.2 As you can see, there is an equality of 14,000 and lower and 15,000-20,000 income. It is based on the survey being conducted by the researchers and from the occupation of their parents. On the part of their financial management, they spent the biggest part of their allowance for their food (50%) followed by their transportation and some other expenses. This shows that food is very important especially for the scholars like them. Food is an essential and they must not ignore because of the responsibilities they have in the university. The primary reason of the pupils asked in preferring themselves in being a scholar of Adamson University is that because they wanted to help their parents in decreasing the expenses. In this reason, an individual can determine that financial or money matters are the first basis in order for them to have financial management. Other reasons are for them to gain independency. The effectiveness of financial management is measured by proper usage of money and thinking a creative way of using up money. The researchers also find ways on evaluating time supervision of scholars. Because of a more number of student assistants being interviewed, most of their time is allotted on their duties. Here is Graph 1.3 that shows how long an ordinary scholar uses his /her time in the university. Graph 1.3 Take a look of the graph that has been illustrated by the researchers. Student D and F are academic scholars. According to the information gathered from the survey, these students are academic scholars. As academic scholars, their worlds are focused on studying. They usually spend time in resting, studying and even have a time for leisure. On the other hand, the remaining students (A, B , C and E) make use of their time in duties and offices. Equalizing time in each activity of a student like them is not easy to do. Like on the Graph 1.3, student assistants are divided in different opinions. Some of them were able to balance their time and others cannot. Same answer was derived by academic scholars. However, they also answered it depends on the situation. Situations are unpredictable and make equalization of time in different planned activities. Somehow, all of them have a time for rest and have a break after long hours from school. Lastly, as a scholar, grade is the most important or basis in acquiring scholarships. Grades of these scholars are not affected by activities being done in school. Therefore, these learners have a good strategic measures in managing their time and studies. Conclusion Based on the presented and interpreted data above, the following conclusions were drawn: 1. That most of the scholars spend their money more on food for it is an essential need. 2. That most of the scholars wanted to help their parents to reduce the number of expenses. 3. That most of the scholars allot their time to school by doing different duties but assures that grades of them will not be affected.

Should Governments Further Fund Public Transportation - Free Essay Example

Sample details Pages: 6 Words: 1774 Downloads: 8 Date added: 2019/08/12 Category Politics Essay Level High school Tags: Government Essay Did you like this example? Today, it is commonly assumed that every person with a drivers license owns a personal vehicle. However, in the United States alone, public transportation is used 35 million times on a common weekday (Facts). In China, there are near 170 million privately owned vehicles (Chinas), compared to their population of over 1.3 billion. Don’t waste time! Our writers will create an original "Should Governments Further Fund Public Transportation?" essay for you Create order The term public transportation can refer to a bus, train, subway, ferry, or other means, that commonly involve a fare (Public). It is used more often than many assume and can be considered vital in the lives of those without their own form of transport.   Public transportation can work wonders for the economy. It provides careers, both directly and indirectly, at approximately 1.1 million jobs per year in the United States (Transit). It provides careers in the form of bus drivers, technicians, and coordinators. Also, it provides transportation to the workplaces for those who do not have access to their own car. The downside of taking a bus rather than a car is that it may limit the work schedules of these people. This is due to the time tables of the transportation. Often, there is also debate in whether public transportation is entirely safe, due to the locations of the stations, or the character of those using the transit or conducting the transport. This is where the controversy arises.   The annual spending on public transportation in 2014 was $416 billion in the United States (Facts), and 2.5 billion British pounds in the UK (Public Sector), or near $3.5 billion. Although these figures are already considerable, it can be argued that the government should increase funding. This would increase the quality of public transportation. To address this topic, the benefits and draw-backs of public transportation must be analyzed to informatively decide on whether the figure that is spent on public transportation is too much or too little.  Ã‚   Today, the environment is a growing concern in ways such as global warming or pollution, but many may argue that there is little being done to prevent the deterioration of the Earth. 28% of greenhouse gas emissions come from transportation in Canada (Greenhouse), and 14% globally (Global). In increasing funding for public transportation, it will decrease the use of individual vehicles, thus limiting the use of gasoline and the emissions coming from the cars. On average, heavy rail transit, such as trams or trains produce almost 80% less gas emissions than single occupancy vehicles (Transit). If governments we re to increase the use of public transportation, air pollution could decrease at an exponential rate. An example of how transportation can affect the air is in China, where some of the worst traffic occurs, as a traffic jam once lasted ten days long. This is one direct cause of the air pollution in China, as it is home to sixteen of the dirtiest cities on the globe (Air).   Not only would the environment benefit from the increase in public transport funding, but the economy as well. According to the American Public Transport Association, a nonprofit organization that promotes public transportation, every $1 used for public transport funding results in $4 back into the economy (Facts). When individual vehicles are not being bought as often and less money is being spent on gas, more money can be used instead on substantial infrastructure for communities, such as roads, utilities, or education (Transit). The APTA is a credible source as it has represented public transportation for over one hundred years. The members of the organization all specialize in transportation, whether it be building it or conducting it.   Providing more funding for public transportation would increase the quality of the transit and reduce any negative connotation that may be associated with the thought of taking the bus or a train, as some may associate public transport with low er income areas. More people would be using it to commute to work, school, or home, and, subsequently, traffic congestion would be reduced. Minimizing traffic would lower the stress of those on the road as traffic is typically a high-tension situation, decrease the effect of cars on the environment, and lessen the amount spent on gasoline per person, which was $1,560 per year in 2017 in the United States (DiLallo).   The unemployment rate in the United Kingdom is 4.2% (How). With public transport more readily available, the unemployment rate could drop, which is typically desirable in many countries. If public transportation is further funded, the bus or train schedules would not have to be as restricted as they may be now, and public transit could further provide careers for hundreds of millions of people worldwide, whether it be a bus driver, a train conductor, or provide a shuttle to and from a workplace.   Despite common belief, public transportation frees up time for those using it. Rather than having to drive to and from work or school, someone else is driving for them, and therefore provides them excess time f or other activities, such as studying or reading, while on the go. Not only does it free up time, but it also is linked to a healthier lifestyle, as people typically walk to and from their homes to bus stops or train stations. As well as this, public transportation may be safer than individually driving, as transit operators must go through training to be able to control the vehicle in which people may be taking. In the United States, bus accidents only account for .01% of transport related crashes compared to nearly three-quarters of highway fatalities resulting from single-vehicles (Kille). Public transportation does a substantial amount of good and provides safe and effective means of travel.   In opposition to further funding public transportation, it could be argued that it would decrease the number of careers in a country. The number of traffic police, car manufacturers, and car salesmen could decrease as the need for individual cars would decrease. Many people worldwide would be out a job. With this, there is question to whether the increase in public transportation will help the economy or hurt it instead. Also, there is some question to if public transportation should become free, which could be detrimental to the economy if it were further funded. More money would be used to better the transportation, but there would be no direct economic returns.   The use of public transportation can increase the time that the average person must wait for commuting. The average time spent waiting on transportation in Great Britain is almost 43 minutes a month, where public transportation is more prevalent than it is in most countries (Britons). Although they would be using this time for other activities, it could be spent at work or home instead.   If public transportation were to be further funded, the money must come from somewhere. This funding would have to come from increasing taxes or pulling funding from another cause, such as education or health care. If the money were to be coming from taxes of the people, it could cause an uproar from the public as those who do not need to use public transport will be forced to pay for it. The taxes that would be increased would include sales tax, property taxes, or gas taxes according to Christopher MacKechnie. If the funding was pulled from other programs, it could also be a cause of conflict, as, again, the taxpayers money would be going towards public transportation rather than being spent on something that the entire population could make use of. MacKechnie was a bus driver for ten years while completing his college degree. He later worked in an authoritative position at a major public transportation company in Los Angeles, which therefore verifies his credibility in the matter.   Further funding public transportation could be argued as unnecessary by many people. Public transport is often seen as unsanitary and even dangerous. Further funding it may help with these problems, but they would not be entirely eliminated and the negative social stigma surrounding public transportation would most likely remain as funding could not alter opinions immediately, if ever. This means that, even if transportation were to be renovated, it is not guaranteed that it would have an increased use. The crimes committed on public transportation include, but are not limited to, theft, rape, or even homicide. When improving public transportation, it betters the infrastructure itself, but it cannot regulate criminals that may take the bus, therefore still limiting the amount of people using the transportation due to the fear that may be associated.   Commuting shorter distances through walking or cycling is much healthier than using public transportation. Typically, those that use private cars or public transportation tend to struggle with stress, exhaustion, and sleep quality over those who commute with physical exercise. (Pag e). If public transportation is not being used by those who are commuting shorter distance, that demonstrates that further funding the transport would be unnecessary to a great majority of people, and therefore make a very little positive impact on society.   After considering both sides of this issue, I feel that governments worldwide should increase their funding for public transportation. It is beneficial in many ways economically and environmentally through providing careers and reducing traffic congestion. The argument opposing further funding can be used in favor of both sides of the issue. Many of the points are theoretical, such as increase in funding may not increase use. Also, the negative views that are associated around public transportation are not widespread, therefor discarding this point. The careers that could be provided greatly outweigh those that would be taken away. The traffic police may slightly decline, but it will not be a dramatic change for the career, as private cars will still be popular; public transportation will just be more commonly used. After analyzing these points, it can be concluded that no dramatic negative changes would occur if public transportation would be further funded. The points presented in support of further funding are based on facts, such as the economic benefit in the fact ?every $1 used in funding results in $4 back into the economy. The environment is one thing that a great majority of people agree should be maintained and taken care of. Public transportation can play a role in the bettering of the environment, further encouraging the need for further funding and encouragement for public transport.   If I were to further my research, I would learn more about the extent that public transportation can decrease gas emissions. Clearly public transportation would decrease the emissions, but it would be interesting t o understand how far it would be beneficial and how. Also, it would be interesting to research the extent that traffic congestion would be reduce and what positive long-term effects that it would have