Solution Assignment 3 Essay

Solution Assignment 3 Essay Solution Assignment 3 Essay Solutions to Assignment 3 1. a. using excel Stock A Stock B i. alpha -.609 2.964 ii. beta 1.183 1.021 iii. standard deviation of Residuals 4.676 4.983 iv. correlation with Market .757 .684 v. Average of the Market = 3.005 vi. Variance of the Market = 20.908 vii. First, we need Rf from SML 2.964 = RF + 1.183 [ 3.005 – RF] ïÆ'ž solving for RF = 3.352 Therefore for next year E(R A) = 3.352 + 1.183 (5 – 3.352) = 5.3 b . (i ) From single‑index model use: Rj = ÃŽ ±i - ÃŽ ²i Rm RA = ‑.609 + 1.183(3.005) = 2.946 RB = 6.032 RC = 3. 556 From the single‑index model the variance is: ÏÆ'2 i = ÃŽ ²i 2 ÏÆ'2 m + ÏÆ'ei2 ÏÆ'2 A = (1.183)2(20.908) + (4.677)2 = 51.14 ÏÆ'2 B = 46.62 ÏÆ'2 C = 265. 0 *The answers should be identical whichever way means and variances are computed. Any slight differences are due to rounding errors in the calculations. (ii) RA = 2.946 ÏÆ'2 A = 51.15 RB = 6.031 ÏÆ'2 B = 46.61 RC = 3. 554 ÏÆ'2 C = 265.0 c. (i ) Under the single‑index model covariance: cov(i j) = ÃŽ ²i ÃŽ ²j ÏÆ'm2 CovAB = (1.183)(1.021)(20.908) = 25.254 CovAC = 57.433 CovBC = 49.568 (ii) From the historic data itself: cov(i j) = ÃŽ £ (1/T-1)(Ri ‑ Ri)(Rj ‑ Rj) CovAB = 18.462 CovAC = 61.618 CovBC = 54.085 The calculations of covariances are different because the single‑index model computes covariances as if the correlation between residuals from the equation Ri = ÃŽ ±i + ÃŽ ²i Rm + ei are zero [cov(ei ej) = 0]. While computing covariance from historic data is equivalent to incorporating the historic level of cov(ei ej) into the measurement of covariance. d. For a portfolio made up of one‑half stocks A and B: (i) Expected return and standard deviation under the single‑index model: Rp = 1/2(2.946) + 1/2(6.032) = ÏÆ'p = [(1/2)2(51.14) + (1/2)2(46.62) + 2(1/3)2(25.25)+2(1/3)2(57.43) = (ii) Expected return and standard deviation using historical data: Rp = 1/2(2.946) + 1/2(6.031) = ÏÆ'p = [(1/2)2(51.15) + (1/2)2(46.61) + +2(1/3)2(18.46) = 2. a)We know by the CAPM:.18 = .04 + (.11 - .06) ï  ¢j which gives ï  ¢j = 2 The CAPM assumes that the market is in equilibrium and that investors hold efficient portfolios, i.e., that all portfolios lie on the security market line. b) Let â€Å"y† be the percent invested in the risk-free asset. Portfolio return is the point on the market line where 18% = y (4%) + (1 - y) (11%) and y = -1. Therefore, (1-y) = 2, i.e., the individual should put 200% of his portfolio into the market portfolio. 3. Assuming that the company pays no dividends, the one period expected rate of return, E(Rj) = [E(P1) - P0 ] / P0 where E(P1) = $179. Using the CAPM, we have E(Rj) = Rf + [E(Rm) - Rf] ï  ¢j = [E(P1) - P0 ] / P0 Substituting in the appropriate numbers and solving for P0, we have .08 + [.18 - .08]2.0 = [$100 - P0]/ P0 and solving for P0 = $154.3 4. Using the definition of the correlation coefficient, we have .8 = and cov (K, M) = .8(.25) (.2) = .04 Using the definition of Beta, we can calculate the systematic risk of MF: ï  ¢k = .04/(.2)2 = 1.0 The systematic risk of a portfolio is a weighted average of asset’s ï  ¢Ã¢â‚¬Ëœs. If â€Å"y† is the percent of MF, ï  ¢P = (1 - y) ï  ¢F+ y ï  ¢K or .8 = (1 - y ) 0 + y 1.0 or y =80% In this case the investor would invest an amount equal to 80 percent of his wealth in MF in order to obtain a portfolio with a ï  ¢ of .8 5. a) Using E(RP) = Rf + [E(Rm) - Rf] ï  ¢P to solve for ï  ¢P=2.2 b)We know that efficient portfolios have no unsystematic risk. The total risk is ï  ³2P= ï  ¢2P ï  ³2m + ï  ³2ï  ¥ and since the unsystematic risk of an efficient portfolio, ï  ³2ï  ¥ is zero, ï  ³P = ï  ¢P ï  ³m = 2.2 (.18) = .396 or 39.6% c)The definition of correlation is CorrJ m = cov (RJ,Rm) ï  ³J ï  ³m To find cov(Rj,Rm), use the definition of ï  ¢j = cov(Rj,Rm) ï  ³2 m Solving, we get Corr J m = 1.0, which indicates that the efficient portfolios are perfectly correlated with the market (and with each other). 6. We know from the CAPM : .13 = .04 + (.08)ï  ¢ J , solving which gives ï  ¢J= .1.125 If the rate of return covariance with the market

A Guide for Teachers Handling Challenging Parents

A Guide for Teachers Handling Challenging Parents Dealing with difficult parents is virtually impossible for any educator to escape. As a school administrator or teacher, you arent always going to make everybody happy. You are in a position where it is sometimes necessary to make difficult decisions, and parents will sometimes challenge those decisions, especially when it comes to  student discipline  and  grade retention.  It is your job to be diplomatic in the decision-making process and to think through every decision without being rash. The following steps can be very helpful when  dealing with a difficult parent. Be Proactive It is easier to deal with a parent if you can build a relationship with them before a difficult situation arises.  As a school administrator or teacher, it is essential for a number of reasons to build relationships with the parents of your students. If the parents are on your side, then you typically will be able to do your job more effectively. You can be especially proactive by going out of your way to talk to those parents who have a reputation for being difficult. Your goal should always be to be friendly and personable. Show these parents that you make your decisions with your students best interests at heart. This is not the be-all and end-all solution to dealing with difficult parents, but its a good start. Building relationships takes time, and its not always easy, but it can certainly help you in the long run. Be Open-Minded Most parents who complain genuinely feel like their child has been slighted in some way. Although it is easy to be defensive, it is important to have an open mind and to listen to what the parents have to say. Try to see things from their perspective. Often when a parent comes to you with a concern, they are frustrated, and they need someone to listen to them. Be the best listener you can and respond in a diplomatic manner. Be honest and explain the thoughts behind your decision-making. Understand that you are not always going to make them happy, but you can try by showing them that you will take everything they have to say into consideration. Be Prepared It is critical that you be prepared for the worst possible situation when an angry parent comes into your office. You may have parents who storm into your office cursing and screaming, and you will have to handle them without losing control of your own emotions. If a parent is extremely agitated, you can politely ask them to leave and return once they have calmed down. Though a situation like this is rare, you should nevertheless be prepared for a student-teacher meeting that turns combative.  Always have some way to communicate with an administrator, teacher, secretary, or other  school personnel  just in case a meeting gets out of control.  You do not want to be locked in your office or classroom without a plan to get help should this kind of situation arise. Another important aspect of preparation is  teacher training. There are a handful of parents who will bypass a school administrator and go straight to the teacher with whom they have a problem. These situations can turn quite ugly if the parent is in a combative state.  Teachers should be trained to direct the parent to a  school administrator,  walk away from the situation, and immediately call the office to inform them of the situation. If students are present, the teacher should immediately take measures to secure the classroom as quickly as possible.

Employee Benefits Essay Example | Topics and Well Written Essays - 750 words

Employee Benefits - Essay Example Companies also offer these benefits as acts of appreciation in order to take care of the well being of its human capital. The purpose of this paper is to study different types of employee benefits and its how they can be utilize as part of a company’s strategic plan. Two types of mandatory fringe benefits that employees working for companies receive are social security and unemployment insurance benefits. Companies match the 7.65% percent employees pay to the federal government for their social security pension plan and Medicare benefits. The unemployment insurance is an insurance the employer buys from a governmental agency that pays employees money in case the employee gets fired for up to year on a bi-weekly basis. Other mandatory benefits employees received from companies are a certain amount of sick days and vacation days per year. The typical approximate benefit of accumulated vacation and sick days is ten sick days a year ten vacation days per year. The other types of benefits companies can offer are voluntary benefits to their employees. A benefit package a company can offer to their employees includes benefits such as health plan, dental plan, company cars, gas allowance, Christmas bonus, flexible time, tuition assistance, training and development opportunities, child day care, elderly care and credit unions among others. A total package of benefits is offered by companies for two main strategic reasons. These two strategic objectives are to enable a company to recruit top talent and in order to retain trained employees in the firm. Offering benefits such as child day care is a very valuable benefit for a single mother. It enables these women to work, while having the reassurance that their children are receiving a proper care which at times costs thousands of dollars a month. A health plan is a benefit that protects the health of the employees and provides the medical financial assistance needed in those times when employees

Comparison between website verification systems and their technique Essay

Comparison between website verification systems and their technique - Essay Example Keeping in view the growing requirement of making the website more effective, optimized and reachable to maximum internet users, the search engines have launched their verification systems so that the owners of the websites as well as other internet users can verify the contents of the site with the help of these systems. Google, Yahoo and Live search have provided the opportunity of the website contents verification through the implementation of their specialized website verification systems (Greg, 2008, p76). The research paper aims to present detailed understanding of the three major website verification systems implemented by major search engines. In this regard, the essay discusses the techniques, options and methods of website verification offered by these three systems separately. In order to explain the usefulness and setbacks of each of these verification systems practically, the essay also presents the results of the analysis of a website that has been tested using these three systems separately. The objective of these tests and presentation of their results is to identify the limitations and accuracy of each of these verification systems. The growing use of internet of wide range of business purposes insists the software and internet technology related companies to design different programs and systems that can meet the growing demands of the internet users and website developers in the technology driven market place of today. In response to this need, there is some specialized websites verification systems designed and implemented to provide more refined and sublime web developing facilities to the web developers (Greg, 2008, p76). These systems have been designed on the behalf of the most popular internet search engines. There are three important website verification systems that are implemented by Google, Live Search and Yahoo.

Persin development Essay Example for Free

Persin development Essay Silkysteps early years forum planning ideas for play Welcome to Silkysteps Early Years Forum Early Years Discussion Forums Training, Qualifications CPD Level 3 Diploma NVQ SCH 32 2. 3 Describe how own values belief systems and experiences affect practice User Name Remember Me? Password Register FAQ Members List Calendar Arcade Level 3 Diploma NVQ Level 3 : NVQ Childrens Care, Learning and Development and Diploma for the Children and Young Peoples Workforce. Please DO NOT COPY and PASTE information from this forum and then submit the work as your own. Plagiarism risks you failing the course and the development of your professional knowledge. Go to Page Page 1 of 2 1 2 Thread Tools Display Modes #1 10-16-2010, 08:02 PM easylife Acorn ~~Putting down roots ~~ Join Date: Mar 2010 Posts: 11 SCH 32 2. 3 Describe how own values belief systems and experiences affect practice Hi, I really would like to thank every one here in this site. Without posting any question last year for my NVQ Level 2 that I passed I really benefit from all of your posted answers. I have now started my Level 3 Diploma for the Children and Young Peoples Workforce and we have 21 units this year I am in unit 052 is any one here doing the same course? Just need some help with 2. 3 : Describe how own values, belief systems and experiences my effect working practice? Manythanks easylife View Public Profile Find all posts by easylife #2 10-16-2010, 10:11 PM Ruthierhyme Administrator Join Date: Nov 2005 Posts: 5,959 Hi a warm welcome to the site xx You need to look at what you value, what beliefs you personally have and the experiences that you have that may or maynot affect the way you work. How would you describe your outlook on life? Negative? do you feel things will go badly Optimistic? maybe youre open to a range of possible outcomes Are you positively focussed? do you find it easy to be keen, motivated, eager to plan, witness and take part. The collins handbook lays out guidance for this assessment criteria by category .. Family background: the make-up of your immediate and extended family and their impact; whether you were an only child or were there many children; sibling rivalry; a mix of genders; the history of your family; whether there was a harsh discipline or permissive attitude. Environment: the house/flat/caravan you grew up in and its location, within town or rural setting, within a cetain geographical area, or a different country. Finances: whether you were wealthy or struggled to have your basic needs met. Education: the ethos of your school; whether single or mixed sex; boarding or day school; inspirational teachers; success academiucally; whether you were bullied; whether you developed special interests. Religious or spiritual beleif system including if you embraced or rejected this. Moral influences: values passed onto you as being of central importance to the way you live your life. Pg 54 Everyone is influenced and shaped by their unique experience of life. It can be hard to separate personal and professional responses when youre asked to perform both simultaneously throughout each working day. For the ability to maintain objectivity or be unaffected by personal bias maybe look at your personal views, beliefs, feelings about aspects that you might find relate to daily practice. Would it help to evaluate examine them by refelcting on your feelings? .. eg. if you were asked to write a sentence using your positive/indifferent/negative thoughts on each of the following, what would that single sentence be/ what would it sum up? childrens rights? a good idea or bad idea? human rights? ECM and positive outcomes? partnership and working together as an internal and external team? male / female roles who stays home to care for children, who goes out to work, who uses different tools, who drives different vehicles, who takes which managerial position human appearance skin colour, eye colour, hair, height, weight, family size/number smacking, time-out, other methods for behavioural management homosexuality: same sex union, same sex parents transgender transvestism labels disability sensory impairement hearing, sight, smell, touch, taste infection control risk individual faiths prayer, worship, marriage:religions local community worldwide networks country based culture language, accent, dress, food, music, art, festivals, weather age does age change capability? pregnancy and age welfare, safeguarding, protecting adults, children, animals academia, training and opportnities to gain knowledge lifestyles and lifestyle choices - multicultural lifestyle - veganism, vegetarianism - activism - celebrity - products, brands - homes a house, flat, caravan, boat, tent - traditions, celebrations, annual occurances, observances discrimination how do you react when others discriminate against others, against you. How do you know when youve discriminated against others or found youve contradicted yourself. healthy eating substance use smoking, drugs, alchol mental health sexual health Consider the role that youre charged with, the title description of your job and the responsibilities involved that mean you implement ways for children to achieve positive outcomes during their time with you and as an underpinning expectation for their forevers. Which of the above do you feel you can whole heartedly support, enjoying all the opportunities available that would promote learning about it. Which do you accept are an individuals own choice, whilst not your personal choice you respect their rights/right to be safe, express themselves Which do you struggle to understand, challenges your thinking, causes you to feel defensive or makes you feel a need to justify or re-examine your reasoning. How supportive could you be to someone with views and beliefs that conflict with your own. How do you think your views, beliefs impact on your practice? Are you able to separate personal and professional responses? Are you able to see what difference exists between personal and professional practice objectivity? Are you able to overcome strength of personal feeling to safeguard the children in your care and work in partnership with parents and colleagues? For ideas on methods of relective practice ie. thinking, writing, discussion, enacting or role play this thread may help

Discovery of the Sahelanthropus Tchadensis Fossil: Earliest Hominid :: Anthropology Essays Paleontology Papers

Discovery of the Sahelanthropus Tchadensis Fossil: Earliest Hominid In July of 2001, a group of archeologists discovered the skull and jaw bone of the oldest member of the human family. The skull is a new discovery and was found in the Djurab Desert of Northern Chad by a group of archeologists lead by Michel Brunet, and is thought to be six to seven million years old (Walton). The age of the skull and jaw bone were approximated through the association of the fauna that were found with the fossils (Brunet). The skull is a major find for archeologists because they now have a new piece of the puzzle that shows the evolution of humans from apes and it provides information to a period that scientists had very little knowledge about because of the lack of evidence (Whitfield). The skull was given the scientific name: Sahelanthropus tchadensis and was nicknamed Toumai, which is a local name for a child born perilously close to the beginning of the dry season meaning â€Å"Hope of Life† (Walton). The skull has a mix of ape and hominid, early humans who are distinctly different from apes by their upright posture, features. The brain case is similar to those of apes, being about the size as a chimp, but the thick tooth enamel and the presence of small canines in the jaw bone are features that are similar to hominids. The most surprising part of the skull is the presence of the large brow ridges found on Toumai (Groves). This is unexpected because the next oldest hominid fossils have a small or non-existent brow ridges but our family, Homo, also has large prominent brow ridges (Gee). These fossils are having a major impact on the scientific world’s view of human evolution and scientists may even have to rethink some present ideas about it. Because the skull of Toumai has characteristics that are very similar to those found in the Homo family, some scientists are beginning to question whether or not Australopithecus, an early member of the hominid family from about four to one million years ago and they are characterized by their fully upright posture and their small brain size, is even part of the evolution record of humans from apes. Bernard Wood, of George Washington University in Washington DC, argues that if Australopithecus has more ape-like features than the features found on an older

China one child policy

China One Child Policy State philosophy of the 1950s was that a large population gave a strong nation, so high birth rate was encouraged, as well as this during that time death rate fell due to better supply of food and medicine. In 1959, all attention was paid to improving industry leaving no attention on farming and as a result killing 20 million in a famine. After the famine, during the 1960s population was seen to be a problem with 55 million born every year. The result of this was the policy ‘later, longer, fewer' encouraging people to decrease birth rate by later marriages, longer gap between hildren and fewer children.This did bring natural increase down from 2. 1% to 1. 2% however this was not enough. This led to the Introduction of the One Child Policy: Limiting the children families could have. Putting pressure to use contraception. Family planning workers in every workplace. ‘Granny police making sure contraception was used, reported on pregnancies and If neces sary enforced abortions and sterilisation. In urban areas it was easier to enforce with rewards of good provision of education and health care however in rural areas people did not keep to the policy as strictly.It was necessary to have the permission of council for a child, but in remote areas it was far harder to check up and therefore more unreported births. Especially In rural areas, where much of the economy is subsistence farming, baby boys were more desirable resulting in female infanticide and baby girls ‘disappearing. The male dominance gave the only child little emperor syndrome' being the only child getting the attention. In rural areas because of the poor provision of education and much of the Income coming from farming, the government had to offer opportunltles to generate Income should they dhere to the restrictions.However the penalties for not respecting the policy included: Cash fine or taking away livestock. No benefits that you can gain from having one child to those with two or more. However In some cases councils encouraged peasants to have more children as It would get them more money and in any case many people are prepared to pay the fine for another child. Benefits of keeping to policy: Better lifestyles are promised for the families. Later marriages In life. Better retirement pensions. The mother is granted a longer maternity leave than in other countries.Salary rise for the parents Free education for their children. The child gets priority for a job in the future. Since 1990 there have been relaxations to the policy because it was so difficult to enforce and the government worrying about the impacts of an ageing population on economy. If husband and wife are from one child families they can have two children. Couples can have another child If first one is disabled or dies. In the western regions, ethnic minorities able to have as many children as they like. 1 OF2 However even In 2 aoortlons were ora erea In one city alone. succ esses: 00 million births prevented.