Differences of Radical Behaviorism, Experimental Analysis of Behavior and Applied Behavior Analysis Essay

The phrase â€Å"radical behaviorism† can either be applied to a philosophy which was created by B. F. Skinner and can also be used to refer to a particular school which became known during the time when behaviorism was in power. It considers behavior as a natural science and that the behavior of animals can be understood and studied beneficially, comparable to the behavior of humans (Chiesa, 1994). On the other hand, â€Å"experimental analysis of behavior† can also refer to a school of psychology founded by B.  F. Skinner or to a philosophy that is basically from the philosophy of radical behaviorism. Data-driven examination of functional relations is one of the central principles which are incorporated in the experimental analysis of behavior. It also includes inductive examination and can be considered in contrast to the kinds of hypothetico-deductive learning theory (Skinner, 1963). â€Å"Applied behavior analysis† is an applied research of behavior and is one of the four domains in the analysis of behaviors. Furthermore, it is the science in which strategy or procedures are derived from the main philosophies of behavior are applied systematically and uses the natural science perspective in terms of its applications. The applied behavior analysis makes the technology for application in a variety of settings available. The diversity of its settings starts from individuals who have autism up to organizational improvement. In addition to this, it is mainly used to enhance the significant social behaviors and that experimentation is employed in determining the variables responsible for modifications or changes (Cooper et al, 2006). These three philosophies under psychology, though they seem to be similar to one another, may also have certain dissimilarities among them. In terms of their underlying principles and philosophy, certain dissimilarities or differences, though somehow related, can already be noticed. The radical behaviorism gained interest because of two proposals or philosophies, one is that all organismic action is determined and not free. Second is that, it refers to the consideration of the â€Å"anti-theoretical†. While on the other hand, the principles or premises utilized as basis for the experimental analysis of behavior includes that â€Å"everything that organisms do is behavior† and that â€Å"all behavior is lawful†. Central to this is the utilization of a Four-term contingency which are utilized to illustrate functional relationships in controlling behavior. The Four-term contingency are motivating operations, discriminative stimulus, behavior as response and consequences. On the other hand, in the applied behavior analysis, it considers behavior as a subject, rather than a natural science and that it is composed of an antecedent, behavior, and consequence (Cooper et al, 2006). While in radical behaviorism, no recognition is given still tat work in traditional psychology has any value or that it can be useful in a unification with behaviorism (Weiner and Freedheim, 2003). The methods, techniques, purposes and service delivery of the three philosophies in psychology also differ from one to the other. In the experimental analysis of behavior, operant conditioning chambers, which are enclosures specifically designed for holding and testing animals, and cumulative recorders, an instrument that graphically records responses from animals or subjects, are used. In the applied behavior analysis, the techniques employed include task analysis, chaining, prompting and fading. On the other hand, radical behaviorism uses operant psychology. Operant psychology is an alternative or replacement for classical conditioning which was observed by Skinner to be non-functional in accounting for behaviors which individuals are most interested of. In the operant conditioning, positive reinforcements and negative reinforcements are utilized and are used to increase the re-occurrence of a behavior. In contrasting an emphasis on the experimental analysis of behavior with an emphasis on interpretive practices in characterizing the heart of radical behaviorism does not involve a denigration of the long-range value of laboratory research (Modgil and Modgil, 1987).

A Clinical Psychology

Clinical psychology is just one of several subdivisions of psychology, focusing on mental disorders and emotional instabilities. A clinical psychologist prevents, evaluates, and treats these problems in individuals. Clinical psychology is an important profession nowadays. Looking back, the thought of school shootings were unthinkable. Back then, the children who exhibited severe emotional/mental problems were identified and referred to for help. Now they are ignored until they come to school with guns and kill people. Then, instead of being seen as a mental health problem, it becomes a legal problem. Unfortunately, it's become quite difficult to prosper in this profession. Managed care has cut reimbursement for psychology to such an extent that private practice is becoming almost unfeasable. It is possible, though. Depending on the state, there are licensing requirements. Here in Ohio, that means taking a rigorous exam, and having the educational and supervisory requirements. For instance, one will need a Ph.D. and one year of supervised experience before being able to even sit for the exam. It's difficult to receive a Ph.D. One must graduate college with virtually straight A's, and then it's 4-6 years of graduate school. Once the person is fianlly licensed, they can set up their practice. The Federal Government recognizes education and experience in certifying applicants for entry-level positions. In general, the starting salary for psychologists having a bachelor's degree was about $20,600 in 1999; those with superior academic records could begin at $25,500. Psychologists with a master's degree and 1 year of experience could start at $31,200 . Psychologists having a Ph.D. or Psy.D. degree and 1 year of internship could start at $37,800, and some individuals with experience could start at $45,200. Beginning salaries were slightly higher in selected areas of the country where the prevailing local pay level was higher. The average annual salary for psychologists in the Federal Government was $66,800 in early 1999. The working conditions for a clinical psychologist is the same as a psychologist in any other field of study. Clinical psychologists work in comfortable office settings, classrooms, or laboratories. Some that are in a private practice choose to set their own hours, but may have to work evenings and weekends to accommodate client schedules. For clinical psychologists that teach at places of education, they might divide their time between teaching, research, and administrative responsibilities. The types of jobs available are working in counseling centers, independent or group practices, hospitals, or clinics. As you can see, there's a wide variety of places to work, it's based on the person's preference. In conclusion, clinical psychologists might have a rough time making it to the top, but once they do, it'll be worthwhile in both pay and experience. A Clinical Psychology Clinical psychology is just one of several subdivisions of psychology, focusing on mental disorders and emotional instabilities. A clinical psychologist prevents, evaluates, and treats these problems in individuals. Clinical psychology is an important profession nowadays. Looking back, the thought of school shootings were unthinkable. Back then, the children who exhibited severe emotional/mental problems were identified and referred to for help. Now they are ignored until they come to school with guns and kill people. Then, instead of being seen as a mental health problem, it becomes a legal problem. Unfortunately, it's become quite difficult to prosper in this profession. Managed care has cut reimbursement for psychology to such an extent that private practice is becoming almost unfeasable. It is possible, though. Depending on the state, there are licensing requirements. Here in Ohio, that means taking a rigorous exam, and having the educational and supervisory requirements. For instance, one will need a Ph.D. and one year of supervised experience before being able to even sit for the exam. It's difficult to receive a Ph.D. One must graduate college with virtually straight A's, and then it's 4-6 years of graduate school. Once the person is fianlly licensed, they can set up their practice. The Federal Government recognizes education and experience in certifying applicants for entry-level positions. In general, the starting salary for psychologists having a bachelor's degree was about $20,600 in 1999; those with superior academic records could begin at $25,500. Psychologists with a master's degree and 1 year of experience could start at $31,200 . Psychologists having a Ph.D. or Psy.D. degree and 1 year of internship could start at $37,800, and some individuals with experience could start at $45,200. Beginning salaries were slightly higher in selected areas of the country where the prevailing local pay level was higher. The average annual salary for psychologists in the Federal Government was $66,800 in early 1999. The working conditions for a clinical psychologist is the same as a psychologist in any other field of study. Clinical psychologists work in comfortable office settings, classrooms, or laboratories. Some that are in a private practice choose to set their own hours, but may have to work evenings and weekends to accommodate client schedules. For clinical psychologists that teach at places of education, they might divide their time between teaching, research, and administrative responsibilities. The types of jobs available are working in counseling centers, independent or group practices, hospitals, or clinics. As you can see, there's a wide variety of places to work, it's based on the person's preference. In conclusion, clinical psychologists might have a rough time making it to the top, but once they do, it'll be worthwhile in both pay and experience.

Current to American Policits Essay Example | Topics and Well Written Essays - 500 words

Current to American Policits - Essay Example Auers (2006) agrees, arguing that political campaigns are "issue-free" and, ultimately, a question of which of the candidates has the support of the big lobbies, PACS and corporations. Arguing the same, Wagner (2005) contends that it is precisely because campaign finance has completely undermined the one person, one vote,' principle and has displaced the issues, that campaign finance reforms were introduced. Instead of abiding by the limits established by campaign finance reforms, however, candidates have found a way around them, knowing the money will, ultimately, determine the fate of their political ambitions. Two of the 2008 presidential election candidates have declared their intention to adhere to the strictest of campaign finance regulations and make the 2008 elections one that is entirely based upon, and determined by, the issues. As Kirkpatrick (2007) reports, last February Obama announced that were he to win his party's nominations, he proposes the limitation of general election campaign funds to $85 million, on the condition that the Republican nominee accept a similar limitation.

System of Inquiry Essay Example | Topics and Well Written Essays - 1750 words

System of Inquiry - Essay Example The CEO, the Board consisting of nine members, are the guiding lights for the company of sound ethical conduct. At the pinnacle of HP’s hierarchical order is HP’s Board that comprises nine members and the CEO The watch dog for ethical behavior is the Chief Ethics and Compliance Officer. He heads the Ethics and Compliance Committee. A Compliance Council has been constituted for risk assessment and to enforce development training. It is further assisted by Global SBC team. All production, management, marketing and sales heads are supported by the SBC team to help them do their activities in conformance to Standards of Business Conduct. HP Legal, HP Global Trade, HP Government Affairs, and HP Corporate Communications are other departments that lend lateral support to the company for good governance and ethical conduct. Ever since its inception in 1939, HP faced its worst ever ethical crisis in 2006. The Chairman, Patricia Dunn had to resign in wake of charges leveled against her, and some Board members, for spying (http://money.cnn.com/2006/09/22/technology/hurd_conference/index.htm). Although, the company is fast on the track to retrieve its lost reputation, criminal charges against her persist. If such a scandal could exist at the top, definitely it must have made ripple effect flowing downwards. The Board has asked its member G. Thomson Kennedy to review HP’s compliance to legal and ethical behavior. John Hoak has been administered the charge of Chief Ethics and Compliance Officer (http://www.hp.com/hpinfo/newsroom/press/2006/061012a.html). Bart M. Schwartz, a former U.S. prosecutor is leading an independent enquiry to review company’s ethics program. Effective checks and balances have been introduced in the top order to scrutinize their work. A worldwide initiative for training i nto ethics has begun and in 2006, 95% of employees of HP participated in it

Managing Working Capital Research Paper Example | Topics and Well Written Essays - 500 words

Managing Working Capital - Research Paper Example The net working capital of Syndicate Company is similar to its working capital. To find the net working capital, Syndicate clinic, subtracts the trade accounts payable from the inventories, marketable investment, and cash. The clinic used the net working capital in estimating the growth of the company. From its records, the clinic has a cash reserve to scale up the operation of the business (Gapenski, 2012). On the other hand, the working capital cycle is the time taken to convert the current assets and liabilities of the clinic into cash In the healthcare industry of today, the leaders and executives fight the challenge of lowering costs, while maintaining a quality healthcare. To increase the profit of the company, Syndicate clinic receive cash from the insurance institutions and patients early. To achieve this objective, the revenue cycle of the clinic opens until payment reaches the clinic. The management of revenue cycle is important because it gives one knowledge to lower the potential fraud, streamline the information of the clinic, and improve the client services. Some of the challenges that Syndicate clinic during revenue cycle optimization include the deficiency of flexible workforce, high and seasonal volumes, multiple touch points, lack of transparency and individual performance, and disparate work types in the clinic. The challenges causes troubles for the providers. Additionally, collection of payments from the patients is not an easy task for the providers and the problem only increase the struggle. To offset the challenges the billing professionals of the company and the physician work as a team to make sure that the patients are charged the correct payment. To manage a working capital, Syndicate Clinic need to a cash flow schedule that will be used in showing the cash inflow, cash outflow, and the balance. When the clinic offers services to its patients, there is a possibility that the company

Two tourism plans Essay Example | Topics and Well Written Essays - 500 words

Two tourism plans - Essay Example It has also clearly come out that the planning processes are synonymous and success is only guaranteed by how effective the process is based on the environment in the study. These strategies target a travelling population and they are a function of the type of tourism, level of tourism and the geography of the place in question. Tourism planning in Turkey is based on a strategy that emphasizes on Planning, Investment and Organization. It is a long term strategy that aims at overall improving tourism in the country for a long period of time. However, the Visit-Scotland strategy is a short term plan that is aimed at maximizing the efforts of the Scottish government for purposes of sustainable economic growth. The Turkey Tourism Strategy also targets domestic tourism thus ensuring that tourism takes place continuously throughout the year. The Scotland Tourism Strategy, however, targets the international community more thus does not outline much about local tourism. The Turks targets leisure tourists who visit the country for purposes for enjoyment and leisure. The Visit-Scotland strategy also targets the business community, thereby appealing more to official travellers and business people seeking platforms for business investment Turkey is hailed for early tourism development. As such, it has an early structural development and beautiful scenery as a major tourism attraction. Scotland is also well known for ancient structural development, Agriculture and Craft. The Turkey Tourism Development Strategy aims more on bringing out their tourist attraction sites even through the use of eye-catching photography. The Visit-Scotland Strategy is more dwelt on protecting the national interests through guarding the environment from pollution and ensuring that visitors connect with the country’s business systems for national development. The regional strategy targets a wider range of tourists and thereby is more

Media and National Identity. What particular significance do media Assignment

Media and National Identity. What particular significance do media systems have for the construction of national identities - Assignment Example Experts have been debating for a long period about the role that media plays in the creation and promotion of national identity. The paper briefly discusses the question and examines the possibility that whether or not the sense of national identity could exist in the absence of media. In the process, the paper will start with defining the concepts and terms of â€Å"nation† and â€Å"national identity†. Discussion According to the Oxford dictionary, the concept of Nation could be defined as a â€Å"large body of people united by common descent, history, culture, or language, inhabiting a particular state or territory† (Martin-Jones, 2006). On the other hand, the Cambridge dictionary believes that nation can be defined as â€Å"an independent country, especially when thought of as consisting of a single large group of people all sharing the same language, traditions and history† (Inthorn, 2007). One of the most important and influential ideas presented in an attempt to define nation was put forward by the French philosopher Ernest Renan in the year 1882 with his book â€Å"Qu'est-ce qu'une nation? ("What is a Nation?"). ... tion has its roots in the desire of the people to â€Å"avoir fait de grandes choses ensemble, vouloir en faire encore" (having done great things together and wishing to do more) (Dornfeld, 1998). Like the definition of nation, national identity is also a disputed and debated concept with little disagreements amongst the experts and writers. Some have rejected the existence of such a concept and they label it as fallacy or illusion for the masses created by the governments and the people in power to exert their force. This allows them to maintain the status quo and thus their position in the society (Price, 1995). As John Pilger writes about the concept of national identity that â€Å"National identity ... becomes ... the often elegant collection of images that the government (or a series of interest groups) manufactures or encourages to keep itself in power" (McCauley, Peterson, & Artz, 2003). Price (2004) believes that the concept of national identity can be defined with three di fferent models or approaches, which are instrumental, essential, and pluralistic models. The instrumental model implies that national identity is â€Å"the collection of myths, ideas, and narratives used by a dominant group or coalition to maintain power in society†. The essential model believes that the American-ness, Scottish-ness, British-ness, Russian-ness, and others have their roots in the national identities and more importantly, all of them have historical essence. Symbols, music, colors and flags are tools, which reinforce this identity, there their protection and promotion is the most important job of the public institutions (Tomlinson & Young, 2006; Martin-Jones, 2006). The pluralistic model refers to the practice in certain countries where national identity is the product of efforts of

Chapter 1 Summary Essay Example | Topics and Well Written Essays - 750 words

Chapter 1 Summary - Essay Example 2), people who argue in favor of heterosexual and homosexual cohabitate relations tend to define marriage as a mere â€Å"union between people† whether it is legally recognized or not. A family is understood as a group of people ‘related by blood, marriage or adoption†; however, most of the Americans tend to accept the broader definition of family where cohabitation also is accepted (Schwartz & Scott, 2010, p. 3). The types of families in America vary from family of orientation, family of procreation, nuclear family to extended or multigenerational family. Racially and ethnically mixed families, lesbian and gay families and foster families do exist in America. The authors argue that factors such as race, class, ethnicity and gender have caused large amount of social, political and economic inequalities among families in the nation and as a result many families feel themselves as inferior. The social functions that families serve include â€Å"regulation of sexual behaviour, reproduction, social placement, socialization, economic cooperation and the provision of care, protection and intimacy for family members† (Schwartz & Scott, 2010, p. 5). There exists contradiction between the traditional family values and those propagated by educational systems. The breakdown of families and moral decay would result in most contemporary social ills such as HIV/AIDS, divorce, drug abuse and violence and the growing number of divorces, lesbian gay relations, unmarried mothers and incest add to these contrasting views on marriage. Studies and researches have shown that the concept of family life in America is very much clouded by myths. According to the authors, these myths, though they sound to be ‘dysfunctional or dangerous’, are ‘middle-class myths’ that are propagated by the mass media (Schwartz & Scott, 2010, p. 9). The major four debunking myths are discussed below: The concept of universal nuclear family found wide acceptance in the 1950s and 1960s. The

Look at the Way Shakespeare Explores Relationships Between Men and Women in Measure for Measure Essay Example for Free

Look at the Way Shakespeare Explores Relationships Between Men and Women in Measure for Measure Essay When Shakespeare wrote Measure for Measure in approximately 1604, society was very sexist towards females and men were seen as the stronger sex, however Shakespeare included lots of strong female characters in his plays such as Portia in ‘Mercent of Venice’ and Lady Macbeth in ‘Macbeth’, he was aware that his plays wouldn’t change society and that unlimitedly, women are regarded as subservient to men. They were not allowed to vote, state their real opinions, go to university and they were never formally educated; their only expected roles in life were to run the household and provide children. Consequently, many men regarded their wives and daughters as possessions who were expected to abide by their husbands and fathers no matter what. When it came down to relationships with the opposite sex, virginity was regarded as a virtue and a prize. Men expected their wives to be pure in preparation for marriage and the women that had ‘succumbed to the pleasures of the flesh’ before they were married were considered ruined women. Men however were encouraged to learn the arts of seduction and some men of the higher class were sent to Italy to learn the art. In the society of Measure for Measure, men clearly use and abuse women. One of the main characters Angelo is placed in charge of the city in Vienna by Duke Vincentio. The Duke had been quite an easy going ruler who feels that it is time to clean up the Viennese society and administer a greater sense of honour. He chooses Angelo because of the strong characteristics and principles that he has make him stand out for being the perfect person to do so. Despite his name being a play on the word ‘angel’, he absurdly proves to be the villain of the play and along with several other male figures, he uses not only his gender but also his position of power, to exploit several members of the ‘weaker’ sex. When Angelo takes authority as ruler in the Duke’s absence he immediately wishes to make a mark. Unbeknown to him, the Duke has disguised himself as a Friar and has returned to Vienna to observe how Angelo administers ascendancy. Angelo initially comes forth as beyond criticism and determined to rule with an iron fist. When he discovers that a nobleman called Claudio has slept with his partner impregnated her, he orders Claudio be executed as an example to the citizens of Vienna, that such immorality will not be tolerated. The nobleman Claudio is introduced to us in Act 1 Scene 2. As he is being led away to prison, his friend Lucio asks the meaning of ‘this restraint’ and queries as to weather or not it is because of ‘lechery’. Claudio agrees that to a degree, his crime is one of being too lenient in terms of sexual activity and we recognize that this is a society where men and women are expected to show self-control before marriage. Claudio talks about his lover, Julietta with a certain degree of dominance; we learn he had ‘possession’ of her bed but in his justification it was ‘upon a true contract’ and it seemed the liaison was consensual. But also ‘upon a true contract’ could also mean that Julietta has donated herself to the dominant member of the relationship. Also this statement makes the ‘relationship’ appear to be almost a deal or an agreement in which has been made between the two characters. He also argues that they were as good as engaged but were waiting for the right moment to reveal the news to her family. Their sexual relationship is regarded by Claudio as ‘mutual entertainment’ and we realise that both can be held responsible for their crime however Julietta is now pregnant and they cannot hide their actions from others who can see the ‘shame’ of their union. In addition, the word mainly focused upon, is ‘possession’. This word once again reflects the sexism surrounding this era; in that the male is the dominant and most significant person. Therefore, it is clear that the women (being Julietta in this case) is almost an in-animate object, which is owned or ‘possessed’ by the man. Claudio’s sister, Isabella, is an aspiring nun and when she first heard about her brother’s arrest she snaps at Angelo with ‘make me not your story’. She honestly doesn’t believe that her brother has committed such sin and thinks it is all a story. When she comes to plead for her brother’s life, she is clearly virtuous and innocent; untainted by the ills of society and ready to offer up her life to God. Angelo is overtaken by his desires and attracted to her virtuous nature. He offers the proposition that Isabella ‘yield up’ her body to his ‘will’ and he in turn will grant a pardon for Claudio. The word ‘yield’ suggests Isabella should give in or cower before Angelo’s might as a man and as a ruler. It reflects how Elizabethan men thought of women as possessions, objects and caring about only their bodies and not their souls; that when it came to sex before marriage, women were meant to give up their bodies. Isabella is horrified and refuses, believing that by sacrificing her virginity, she sacrifices her soul. The word ‘will’ shows that Angelo dominates and expects to be obeyed in the ‘relationship’, despite her opinions or rights. As a man in a superior position, Angelo is used to being obeyed and his demands are to be met. This shows us that men treated women as objects to satisfy their needs. In light of how sexist this play has been, at the end of the play in scene 5 I become almost convinced of how vile the Duke is. He tries to portray himself as this great big hero when he helps Isabella save Claudio; but then injustices that by punishing Lucio so harshly. Prostitutes in those days were thought of as strumpets and marriage with such a person was a ‘sin’. So, Lucio is given an option to marry the whore he impregnated but he never has to repent for what he did. Actions like this in the Viennese society were highly frowned upon and this highlights even more how badly men thought about women in these situations because Lucio was devastated when the Duke told him his sentence. Isabella, originally on the verge of becoming a nun, finds herself about to marry the Duke. It is interesting that she is not given a chance to reply to the Dukes marriage proposal in the play. She is assumedly very content to become the spouse of the towns leader, mainly since he has saved her brothers life. But at the same time this situation reinforces her loss of sexual independence. The central conflict in the play revolves roughly around Isabellas rejection to follow the ways of the majority of the women in Vienna. Her marriage to the Duke confirms her virtue while denying her independence. There are no independent women in Measure for Measure. This is not strange, considering the setting and Shakespeares own era. But Measure for Measure gives its women characters even less freedom than other Shakespearean plays. Isabella is the one exception in that she refuses to respond to Angelos advances. However, she is still obedient toward the Duke, following all of his instructions. At the conclusion of the play, the Duke administers punishment to all of the people who have done wrong and rewards the good. Angelo is told to marry Mariana, and he escapes death at her request. The Duke probably does not want to execute Angelo, but wants it made clear that his crime deserves such a punishment. Marianas reward is Angelo, which she takes happily, although the Duke tells her that he is unworthy of her love. Claudio is allowed to marry Juliet, and Lucio is punished by being made to marry a prostitute. Marriage is not a specific punishment or reward; however in this situation it is definitely a punishment.

The foreign exchange market Essay Example for Free

The foreign exchange market Essay The analysis of this paper highlights the importance on the factors that determines the foreign exchange rates at which one country purchases the one unit of the another country’s currency. The foreign exchange market provides a link between the countries through which all countries are working under the umbrella of global trade which works more efficiently than barter. The foreign exchange market provides a hub under which one country exchanges the other country’s currency because every nation uses its own monetary unit. In this particular case, the firm is willing to make a business deal with the Japanese supplier. In order to accomplish the business deal the management of the Blades Inc has two choices one is to purchase two call options contracts and the second is to purchase one futures contract. The tendency of futures price on yen has historically tilted towards discount with respect to the existing spot rate and the firm is willing to use currency options in order to hedge payables in Japanese yen. They prefer currency option because of the uncomfortable leaving the position and also the historical volatility in the yen. But the CFO prefers the options offer over forward contracts or futures contracts due to its flexibility and wants to use the exercise price of 5 percent above the existing spot rate. In general, options on Yen required a premium of 1. 5 percent of the total transaction amount that would be paid if the option is exercised. Moreover, if the firm uses the future yen spot rate, then the decision is purely based on a cost. The optimal hedging strategy is not the lowest-cost alternative because the firm is the in the position of assessing the risk. The firm is working upon hedging because of prevailing unsure market condition. So the perfect hedge reduces the risk associated with the currency. B Answers of the Questions 1. The table shows the option choices for Blades Inc. If they are not willing to pay more than 5% (above spot rate) then the exercise price of $0. 00756 should be considered while on the respective side the premium on that particular option is 2% (more expensive) of exercise price. The option premium is higher is that respective which the firm normally willing to pay. The firm also pays a lower premium by purchasing and considering another option whose exercise price of $0. 00792 but that exercise price is 10% higher than the spot rate. This particular alternative is not feasible for the company because the firm is not willing to pay moire than 5% on the prevailing spot rate. So if the firm wants continue to use option the management of the company either prefers a higher premium than it would prefer, or a higher exercise price that limits the effectiveness of the hedge. If the firm is willing to use an option then the tradeoff is paying a premium of $1,417. 50 to limit the payables amount to $99,000 or paying a premium of $1,890 to limit the payables amount to $94,500. The preference of the option is based upon the assessment of the analyst regarding the Yen (Gerald I. White, Ashwinpaul C Sondhi, and Dov Fried ,2001). 2. Blades Inc also remains unhedged but its preference is towards hedge because of the volatile and fickle movements happen before the events. They are more desirable towards hedge because of the disruption and uncertainty associated with the yen’s future value. Since future prices are not influenced with the doubtful and uncertain events. The management of the company should prefer the futures contracts as an alternative to options. Thus, the firm is willing to purchase future contracts which enable the management to lock its future payments with any undue disruption (Steinherr, 1998). 3. In the market speculators who want to capitalize their expectation and anticipation towards the yen’s future movement, then the anticipation towards future spot rate would be equal to the futures rate. For example, if the speculator wants that Yen should appreciate they should eyeing to buy the Yen. If the Yen appreciates, the speculator buys the Yen’s future rate in two months and sells them at the prevailing sport rate at that particular time. Thus, if the market expectation and sentiments are high towards Yen then the Yen will appreciate and the all the speculators will engage in the similar action. This action enforces towards upward pressure on the future rates and downwards pressure on the expected future spot rate. This ongoing process continues until the future rate is equal to the expected future spot rate. Therefore, the expected spot rate at the point of delivery is equal to the future rate, $0. 006912 (Tsetsekos Varangis, 1997, and, van der Bijl, 1996). 4. The best possible choice at the given future spot rate is described in the question 3 but the decision is solely made on the basis of cost because acquisition of one future contract makes an impact on the actual cost of $86,400 on the delivery date. The actual cost on the delivery dates in the form of purchase of Yen my deviate from this value. It is depending upon moment of Yen between the order and delivery date. Therefore, the firm probably prefers to use future contract over the remaining unhedged time. 5. No as disclose in the case the Yen is very volatile so due to that fact the actual costs might be tilting towards lower side either the firm uses an option to hedge the yen payable or remained unhedged. By applying a future contract to hedge it also locks the price of the firm which they are willing to buy Yen at the given time frame. Moreover, firm forgoes the cost advantage that effects the depreciation of Yen at the given point of time. In that particular scenario, the firm is flexible enough to buy yen at the spot rate but this flexibility is not available with the future contracts (Hunt, Philip and Kennedy, Joanne, 2004).

Explanation of the Gantt Chart

Explanation of the Gantt Chart Its use a simple logic calculations to identify the critical path, it does include: A sequence of activities has a timing duration. Adding the timing durations from the start till the end (forward pass), it helps to determine the early and late start. Deduct the timing durations from the end to the start (backward pass), it help to determine the late and early finish. Deduct the early finish from the late finish, by that we found the total float. The early start for activity A is 0, while the late finish for activity R is equal to its late start. The critical path is the longest serious of activities in the diagram with no flexibility, linked to each other without interruption. In other word its the path has activities with total float equal zero.While the duration of the project determine by the earliest and late finish of the last activity in the project. Gantt chart is useful tool to project manager, in this chart there is a calendar time scale enable to determine the project duration including , not only the working days, but also holydays and weekend. If the project starts on 11 January 2010 in 5 day working week, assuming there is no holidays the earliest day the project will completed is 2 April 2010. (See end of the document). a. As activity P is a critical activity in a critical path a one day delay will create a delay in activities Q and R, which delay the project end for one day. Also it could generate an increase in project cost. The project manager should be able to predict this before its occurred, therefore he should analyses the network diagram and looking for maneuver margin. b. If activity N completed 1 day earlier, it could give other activities in the path such as O, P, Q, and R one day flexibility. However it doesnt mean that the project will finish earlier because other activity recourses were schedule and it could be not available at that time, but still there is possibility to the project to finish 1 day before than schedule. c. Activity I is not critical activity, thats mean it has a float or slack which is in this activity is 6 days. There for a delay for 2 days in this activity will not create a delay in whole project, however there a possibility to generate increase in cost than the estimated before. In the network diagram all the project activities are represented accordance with the relations that exist between them, the activities represented by nodes (boxes), these mentioned the beginning and the end of each activity The benefits for the diagram are: Obtain a schematic representation of the project. predict the required time to complete the project. distinguish between critical and non critical activity in the project, and thus determine the possible maneuver margin for each task, which can be by moving some resources from non-critical tasks and focus on critical activity, which contributes to reduce the time of the project with a fixed cost. Implementing the network diagram is summarized in these steps: know all the activities for the project their is a list of all tasks (activities) often included in the outset project based on Work Breakdown Structure Identify the relations between these tasks there are tasks that can be implemented in parallel, or may depend on the end of the other tasks (sequence), in this step is a list of all the project tasks and its relations with other tasks. Setting the network diagram after knowing the tasks, and the relations with other activities, the project activities are drawn as Node network diagram. Estimate the required time an estimate of required time to complete each activity passed on past experiences, or by using intuition and logic, the estimate may not be free of error. identifying the critical activity and critical path of the project critical activity is an activity which, if the delay occurred during the implementation, it could delay the whole project with the same amount, the critical path is the path that connects critical activities and it starts from the beginning of the project and finished at the end of the project, it is the longest path in terms of length in the network diagram. On this path there is no margin time to maneuver in the implementation of any task because of the lack of flexibility time in any task on this path. Update the network diagram on a regular basis during the implementation of the project, real-time registration is taken for each activity, and in the meantime, critical path may appear to show new activities were not taken into account.

The effect of anthropogenic ecological stressors Essay examples -- Env

Biodiversity is the variation among organisms and ecological systems at every environmental level. However, the simplest way to study these organisms is to observe the richness of the species. Species richness involves observing the number of species found within a certain patch (Ricklefs 2008). The dispersal of the species involves organisms entering and exiting patches to inhabit another patch. Dispersal may affect the distribution of the organism or the overall fitness of the population thus harming the species richness or possible increasing the richness (Ricklefs 2008). There are multiple factors that can affect the species richness of an organism, known as anthropogenic ecological stressors (Thompson and Shurin 2012). There is a wide variety of these ecological stressors ranging from pollution, climate change, and the introduction of invasive species, habitat destruction and the change in environmental conditions locally and globally (Thompson and Shurin 2012). These ecological stressors can occur individually or several may take place at one time thus interacting with one another and causing change to the resident species. Multiple ecological stressors applied can have a great impact on biodiversity and the overall ecosystem function (Christensen et al. 2006). The stressors can be predicted due to changes in the environment, yet there is no control on how forcefully they are applied and when they will occur (Christensen et al. 2006). Biodiversity in freshwater is known to be extremely vulnerable to climate. In response to the increase in temperatures due to climate change, organisms are expanding their ranges to higher latitudes and altitudes (Heino et al 2009). Therefore they are shifting their overall distributi... ...ent that is experiencing constant changes, thus relating back to the spatial insurance hypothesis. Works Cited Christensen, M.R., Graham, M.D., Vinebrooke, R.D., Findlay, D.L., Paterson, M.J., Turner, M.A. 2006. Multiple antrhopgenic stressors cause ecological surprises in boreal lakes. Global Change Biology, 12: 2316-2322. Heino, J., Virkkala, R. and Toivonen, H. 2009. Climate change and freshwater biodiversity: detected patterns, future trends and adaptations in northern regions. Biological Reviews, 84: 39-54. Ricklefs, R.E. 2008. Community Structure. Pages 376, 413 in J. Correa and S. Moran, editors. The Economy of Nature. W.H. Freeman and Company, New York, USA. Thompson, P.L. and Shurin, J.B. 2012. Regional zooplankton biodiversity provides limited buffering of pond ecosystems against climate change. Journal of Animal Ecology, 81: 251-259.

My Family: God Blessed Our Family with Robbie Essay -- Personal Narrat

Robbie is my eight-year-old brother. He is autistic. Autism is a developmental disability that interferes with the normal development of the brain in the areas of reasoning, social interaction, and communication skills. Because of autism, Robbie has severe delays in verbal and non-verbal communication, social interactions, and even in play activities. Robbie does not do what is normal for a child of eight and he acts much younger. Things that most children do automatically have to be taught to Robbie. Robbie goes to school every day. He is in a special education program that has helped him greatly. The TEACCH (Treatment and Education of Autistic and related Communication Handicapped Children) technique is used. It is a highly structured program with a great emphasis on functional and communication skills. Despite Robbie' inability to speak, he has learned how to communicate his needs and wants to others by using a Ma... ... Tank and "Friends" series and several of the Disney videos. He loves playing with "Tickle Me Elmo" and doing puzzles. But most of all Robbie enjoys eating. Pasta and noodle soup are his favorites. He is able to get the ingredients together by himself so all Mom has to do is turn on the stove and watch it cook. Robbie is autistic but he is also a very smart, funny, and loving person. He is so special and I am so happy to have such a special brother like Robbie.

Humanistic and Psychodynamic Essay

Abraham Harold Maslow- Humanistic Approach Humanistic is the psychology study of how the human works as a whole. This studies the uniqueness of the person through their behaviour. Rather than just observing the humans behaviour, humanistic psychologists try to study the humans behaviour first person rather than just observing. Meaning they try to understand the situation and the emotional feelings the person is going through for them to have that specific type of behaviour, they try to understand the behaviour of the person by looking at it from their perspective. Humanistic is a way of thinking and is an ability to solve our own personal problems. This meaning to focus on our own perspectives, experiences, thoughts, self-image and feelings to understand an individual. People can be capable of self-development and their own self-improvement. We have our own choices on what we choose to do and how we chose to take out this option. We chose how we want to behave and whether it’s right or wrong i.e. breaking the law. An i ndividual chosen whether they want to break the law, knowing full well of the consequences. This is called free will; we have the right to choose what we want to do and how we want to behave. The court of law follows this principle because you know whether you have done right or wrong and there is no one to blame, except yourself, because you chose to behave that way. Abraham Harold Maslow was the first psychologist to create the ‘human hierarchy of needs’ which explains the different level that an individual has to move from throughout life. This hierarchy changes from one level to another and each level has its own specific needs. Most psychologist before Maslow had been concerned with the abnormal and the ill, he convinced and persuaded people to start acknowledging people’s basic needs before addressing them as having higher needs or being ill. Firstly on Maslow’s hierarchy he started with the basic needs of a person such as food, water, sleep etc. then lead to the physical needs of an individual. The highest needs of an individual are ‘self-actualization’ which is realising who you are as an individual and knowing your own moti vations. Not many people get to the self-actualization for many reasons, being that they didn’t get through the different levels of the hierarchy or because they think that they can skip the rest of the  levels, thinking that they know their own self-fulfilment etc. These hierarchies have five different levels of needs. Maslow’s level of human needs started with physiological which is basic survival, understanding the function of the living organism. Which is what an individual needs, their basic needs i.e. water, sleep, breathing and sex. Then safety which is basic need again and feeling secure. For example, freedom from danger, risks or injuries whether at employment, home or doing everyday activities. Love and belonging is the next need which is the emotional level/need. Meaning to understand what love is and what it feels like to belong, dependent on being part of a family or understanding what it is like to love through friendship or sexual relationships. Esteem is the fo urth need, which is respect and recognition. Understanding what your personal goals are in life and what you can achieve throughout life dependent on yourself respect and respect for one another. The final level is self-actualization which is what makes you who you are as an individual, realise your own potentials in life. Also, realising your own self-fulfilment and person growth from peak experiences. Everyone as an own personal desire to move up the hierarchy table towards self-actualization, although their progress is often disruptive by failing to meet the low level needs. As an example if someone doesn’t show love or feel loved then they won’t be able to succeed through the love and belonging section, if they’re brought up in an abusive home this would affect the low level safety so they would be decreasing in the levels. Only remarkable people are most likely to reach the highest level, self-actualization. Maslow’s theory was the best type of motivation for an individual, he proposed he hierar chy of needs in his paper â€Å"a theory of Human Motivation†. Hans J Eysenck and Otto Gross approach to Psychodynamic Hans is a psychologist famous for his work on intelligence and personality. Eysenck claims that Freudian theories can be falsified, also Gross claims that Freud’s theories are scientific but have been proven wrong so which he say is simply â€Å"bad science†. Psychoanalyst tends to only accept YAVIS patients for treatment, YAVIS means young, attractive, verbal, intelligent and successful. This is because YAVIS patients are more likely to recover rather than mentally unstable patients. When the criticism of frauds approach happened was because Gross and Freud were in a disagreement on the  subjects of repression, sublimation and perversion. The meaning of repression is to control and resist what you would want. Sublimation is doing things in an acceptable and respectful manner and perversion is far from normal for example being abnormal. They disagreed on Freud’s theory because they believe that the patients should be capable of feelings and having their freedom also they shouldn’t be forced to do something that they do not want to do. Both psychologists argued that Freud got too involved and attached with his patients because Freud was there 7 days a week. Sigmund Freud, Psychodynamic Approach to Psychology Freud was the founder of psychodynamic approach to psychology; this is because he created a new approach to understanding how the human works and the human individual personality. Freud’ theory was the conscious and unconscious mind, he believed that behaviour and personality derives from the constant and unique interaction of conflicting psychological forces that operate at three different levels of awareness. The three different levels are conscious mind, preconscious mind and unconscious mind. Conscious mind includes everything that we are aware, every single moment. Preconscious mind represents ordinary memory. Unconscious mind reservoirs our feelings, thoughts, urge and memories that are outside out conscious awareness. The theory of the conscious and unconscious mind is done to show our feelings, motives and decisions which are actually influenced by previous/past experiences, which are stored in the pre-conscious and instincts from the unconscious. Freud later made a structural model of the mind which was called ID, EGO and SUPEREGO. The ID, EGO and SUPEREGO link to the conscious, pre-conscious and unconscious mind. ID is the unconscious, EGO is the conscious and SUPEREGO is the pre-conscious and unconscious mind. Although these are not physical areas within the brain they’re the process of important mental functions. Explanation of each stage is; ID is driven by pleasure principles which strive us for immediate needs and desires, meaning that the person would be wanting things. Although the ID will try to resolve the tension created by pleasure. EGO and SUPEREGO, EGO is something that is developed through ID in the early stages of life, EGO is the component of your personality that deals with reality whereas SUPEREGO is developed a little later as it controls your guilt. For example, if someone wanted a  new pair of shoes ID would kick in because the desire to have them shoes would rise, whereas EGO would have to face reality and realise that you might not have the money to get the shoes then SUPEREGO controls the guilt so then you would start regretting buying the shoes if for instants a family relatives birthday was coming up and now you don’t have the money. EGO works on a reality principle meaning that it wants to please the ID but in a socially and realistic way, which some people deem as unacceptable. The reality principle contemplates the positive and negatives of an action depending on what it decides, it will either act upon the decision or completely abandon it. SUPEREGO is the basic rules and standards for good behaviour. The behaviours included would be those approved by parents and those in authority. The SUPEREGO goal is to improve and civilize our behaviour; it tries to supress all the unacceptable urges that come from the ID. Fraud’ theory claims that the key to a healthy personality is a balance between the ID, EGO and SUPEREGO. Carl Ransom Rogers, Self-Actualization Again, the humanistic approach is how we look at an individual as a whole observing their behaviour and personality. Rogers was a psychotherapist, which is someone who treats people with mental disorders through psychology rather than medical means. After years of work, Rogers compiled the Self-actualization theory which is the realisation of fulfilment of one’s talents and potentials. Rogers says that people have two basic needs which are positive regard and self-worth. Positive regard is a sense of acceptance from other people and self-worth is feeling adequate. Our feelings of self-worth are important both to psychological health and we can achieve goals and ambitions in life to achieve self-actualization. Rogers’s theory is that the individual is responsible for their own happiness and should not look towards others for it. He believed that a person is born with the desire to be and achieve the best they possibly can. Rogers’s overall theory is about feeling good and mentally healthy therefore meaning a person is cable of resolving their own problems without looking towards others. His therapy was ineffective to those who were unconfident, unhappy and had a lack of self-esteem. So he studied on clients opposite to this, clients who were confident, happy and have a high level of self-esteem. His theory was known as ‘Rogerian Counselling’ which was only effective on healthy minded  people which means it did not work on mental and physically damaged clients this only increased emotional problems such as depression, also the theory was more successful on children and young people. The theory key was communication, if the client wasn’t fully communicating with Rogers it would not work, this proved the therapy ineffective to people with phobias. In conclusion Rogers theory of self-actualization teaches people to become self-sufficient upon their own actions rather than seeking it from other people. This proved that people naturally desire to be accepted regardless of what they do, however the majority of people will only accept them dependent on whether or not they want to. Rogers self-actualization tries to help people understand their full potential and what they can achieve, also seek happiness for themselves without looking towards others for it. His theory helps people become more happier about themselves rather than looking for acceptance and happiness from others.

Lost Time Is Never Found Again

It was Ben Franklin who said: â€Å"lost time is never found again. † Mr. Benjamin Franklin  also said: â€Å"Remember that time is money. † Each of us has exactly 24 hours per day. Neither more nor less minute. Those of us that maintain a full time job know very well that we trade our time weekly in exchange for money. Some of us earn more money for less time and of course the opposite is true. Nowadays there are two categories of people. People from the first group work hard in order to make enough for a living, to satisfy their basic needs.While the others consider money as a way to win more power and better social position, sometimes – even friends. They say â€Å"Money makes the world go round† and time represents only money for them. In my opinion, there cannot exist any statement that is undoubtedly true. And in this way, we are not able to say whether time is money or not. Some people will always believe that time is only money but nothing else; others will defend the opposite thesis.All of us should realize that the material world around us makes time money. I confess that all of us should be realists. No one can lead normal life without enough money. People constantly work in order to earn. And they need time. It is mainly money for them. Their credo is â€Å"Don’t lose time, make money! † Certainly, interests, requests, opinions of other people can and should be considered by you at definition of how you spend yours of time. But nevertheless, the final decision always for you.

Unit 1 D2

Amy Holihan CACHE Level 3 Unit 1 D2 â€Å"Multi Agency working brings together practitioners from different sectors and professions to provide an integrated way of working to support children, young people and families. † (www. education. gov. uk 18. 10. 2021) Multi Agency Teams are made up of professionals who are brought into the childcare setting for a variety of different reasons.They ensure that all children, young people and families who need additional support have exactly the right professionals they need in order to support them. A Multi Agency Team could involve anyone who’s voluntary or job puts them in contact with children, young people or families. Other professionals who may work as part of a Multi-Agency Team are social workers, educational psychologists, health visitors and paediatric dieticians.They help children and young people who may be suffering from special needs, learning in difficulties or behavioural difficulties they assess these children and give them individual support and together with their families. The Multi Agency Team approach has many benefits such as there is better support for the parents and easier to meet every child and families individual needs and to address them more appropriately and children seeing professionals around then working together as a team.Communication between different services and confidentiality is crucial when working in a multi-agency team to ensure that all children and families get the support they need and their rights are never breached. â€Å"The CAF should be offered to children who have additional needs to those being met by universal services unless a child is presenting a need it is unlikely the CAF will be offered. The practitioner assesses needs by using the CAF. † (www. education. gov. uk 18. 10. 2012) The common Assessment Framework is to be used by all professionals who are in contact with children young people and their families.It is used to help practitioners i dentify a child’s need and offer them extra support before it reaches crisis point and to ensure important needs of children are not overlooked. Information is also shared between other practitioners so that parents only have to tell one professional information about their child. Parents also get to see the assessment information and get to voice their views and opinions with practitioners. Families play a big part when developing an action plan for meeting all children’s additional needs and consent must also be given by the parents.

Computer Games Essay

Farmville, DotA, Cafà © World, City Ville, Plants Vs. Zombies are just among of the few computer games that are in demand not only among the youth today but also to some adults. These computer games surely bring us entertainment and fun but is that really what’s into it? Have you ever thought of what are the effects of these games to our minds and attitudes? Computer games conquer the minds of our youth today. Through these games, we are able to make friends all over the world. These games could also help our minds because while playing we think of different strategies to win. These helps keep our minds off of the things we don’t want to think about. But are these benefits worth it, when once you get addicted to these you might not think of doing more important things? For me, computer games are fine but once you put all of your time playing these then you might want to think of controlling yourself. Why? Because it might divert your attention from your duties and responsibilities. As a youth and a student, I think that we should focus on our studies more because our studies would make a great impact on our future. If you study more, then you’ll have a greater chance of having a bright future. I am not saying that you should not play such computer games. You could play but make sure that you could control yourself, manage your time, and keep it in moderate. Remember, staying in front of the computer for so long could damage your eyes and your health because of radiation. Some even died because of addiction to the game DotA. I’m not a fan of this game because of its characters that seem to promote the devil. Computer games bring us enjoyment and amusement but we should all think of its effects to us and what it really teaches us before we get indulged on playing such. I don’t have a thing against the gamers but it is good to keep things in moderate. Not only in computer gaming but in other things as well.

Immune System and Page Ref

Essentials of Anatomy and Physiology, 9e (Marieb) Chapter 12 The Lymphatic System and Body Defenses Short Answer Figure 12. 1 Using Figure 12. 1, identify the following: 1) A lymph capillary is indicated by letter __________. Answer: D Diff: 2 Page Ref: 404 2) A lymph node is indicated by letter __________. Answer: B Diff: 2 Page Ref: 404 3) The lymph duct is indicated by lettter __________. Answer: A Diff: 2 Page Ref: 404 4) Blood capillaries are indicated by letter __________. Answer: E Diff: 2 Page Ref: 404 5) Lymphatic collecting vessels are indicated by letter __________. Answer: C Diff: 2 Page Ref: 404 1 Figure 12. Using Figure 12. 2, identify the following: 6) The spleen is indicated by letter __________. Answer: C Diff: 1 Page Ref: 407 7) The tonsils are indicated by letter __________. Answer: A Diff: 1 Page Ref: 407 8) The thymus gland is indicated by letter __________. Answer: B Diff: 1 Page Ref: 407 9) The Peyer's patches are indicated by letter __________. Answer: D Diff: 1 Page Ref: 407 10) The lymphoid organ that destroys worn-out blood cells is indicated by letter __________. Answer: C Diff: 2 Page Ref: 407 2 11) The lymphoid tissues that trap and remove bacteria that enter the throat are indicated by letter __________.Answer: A Diff: 2 Page Ref: 407-408 Fill in the blank or provide a short answer:12) Lymph fluid and some plasma proteins originate (escape) from the _________ _. Answer: blood plasma Diff: 2 Page Ref: 403-40413) Excess accumulations of fluid, which impair the exchange of materials within the tissues, is called __________. Answer: edema Diff: 2 Page Ref: 40314) The fibrous capsule of lymph nodes contains strands called __________ that divide the node into compartments. Answer: trabeculae Diff: 3 Page Ref: 40615) Lymph exits the lymph node via the __________ vessels. Answer: efferent lymphatic Diff: 2Page Ref: 40616) The role of the __________ in the lymphatic system is to remove worn -out blood cells and return some of the products to the liver. Answer: spleen Diff: 2 Page Ref: 40717) Peyer's patches and the tonsils are part of the collection of small lymphoid tissues that p rotect the upper respiratory and digestive tracts from infection and are referred to as __________. Answer: MALT (mucosa-associated lymphatic tissue) Diff: 3 Page Ref: 40818) Harmful or disease-causing microorganisms from which nonspecific defenses protect the body are called __________. Answer: pathogens Diff: 1 Page Ref: 40919) The process by which WBCs and phagocytes migrate to an area experiencing acute inflammation is called __________. Answer: chemotaxis Diff: 3 Page Ref: 41120) The process by which neutrophils squeeze through capillary walls is called __________. Answer: diapedesis Diff: 2 Page Ref: 412 321) The binding of complement proteins to certain sugar or proteins on a foreign cell's surf ace is called __________. Answer: complement fixation Diff: 3 Page Ref: 41322) One effect of complement fixation that causes the cell membranes of foreign cells to become sticky so that they are easier to phagocytize is called __________.Answer: opsonization Diff: 3 Page Ref: 41323) C ells studded with protein molecules found on our own cells that do not trigger an immune response within us (but may within others) are called __________. Answer: self-antigens (autoantigens) Diff: 1 Page Ref: 41624) Troublesome small molecules or incomplete antigens that may mount an attack that is harmful rather than protective are called __________. Answer: haptens Diff: 3 Page Ref: 41625) When an antigen binds to B cell surface receptors, it becomes sensitized (activated) and undergoes __________. Answer: clonal selection Diff: 3 Page Ref: 41826) When B cells encounter antigens and produce antibodies against them, we exhibit __________. Answer: active immunity Diff: 2 Page Ref: 42027) Antibodies constitute an important part of blood proteins and are also referred to as __________. Answer: immunoglobulins Diff: 2 Page Ref: 42128) The five major immunoglobulin classes are __________. Answer: IgM, IgA, IdD, IgG, IgE Diff: 1 Page Ref: 42229) The binding of antibodies to specific sit es on bacterial exotoxins or viruses is called __________. Answer: neutralization Diff: 2 Page Ref: 42430) The clumping of foreign cells, a type of antigen-antibody reaction, is called __________.Answer: agglutination Diff: 2 Page Ref: 42431) Killer T cells, which kill virus-invaded body cells, are also called __________. Answer: cytotoxic T cells Diff: 3 Page Ref: 425 432) Antigens that produce abnormally vigorous immune responses whereby the immune system causes tissue damage as it fights off a perceived threat that would otherwise be harmless are called __________. Answer: allergens or hypersensitivities Diff: 2 Page Ref: 43033) Systemic (bodywide) acute allergic response caused by allergens that directly enter the blood, as with certain bee stings or spider bites, is called __________.Answer: anaphylactic shock Diff: 2 Page Ref: 43034) AIDS cripples the immune system by interfering with the activity of cells called __________. Answer: helper T cells Diff: 2 Page Ref: 43135) A tr opical disease that results when parasitic worms clog the lymphatic vessels is called __________. Answer: elephantiasis Diff: 2 Page Ref: 431Multiple Choice1) The fluid that is forced out of the capillary beds by hydrostatic and osmotic pressures and into the tissue spaces is called: A) arterial blood B) venous blood C) plasma D) interstitial fluid E) lymph Answer: E Diff: 1 Page Ref: 403-4042) Lymph flows: A) in a circular pattern within the tissues B) away from the heart only C) toward the heart only D) both toward and away from the heart E) into the capillaries Answer: C Diff: 1 Page Ref: 4043) Lymph from the left arm would return to the heart through the: A) inferior vena cava B) thoracic duct C) right lymphatic duct D) left subclavian artery E) aorta Answer: B Diff: 3 Page Ref: 404; 406 54) Which one of the following is NOT a mechanism that aids lymph return: A) milking action of skeletal muscles B) pressure changes within the thorax C) the pumping action of the heart D) smooth muscle contractions within the lymphatic vessels E) presence of valves within the larger lymph vessels Answer: C Diff: 1 Page Ref: 4045) Which one of the following is NOT true of lymph nodes: A) they remove foreign materials from the lymph fluid B) they have valves similar to those found in veins C) they contain lymphocytes D) they act as filters along the lymphatic vessels E) they contain macrophages Answer: B Diff: 2 Page Ref: 405-4066) Which lymphatic organ's major job is to destroy worn-out red blood cells and return some of the products to the liver: A) tonsils B) spleen C) thymus gland D) tonsils E) Peyer's patches Answer: B Diff: 2 Page Ref: 407 ) Which lymphoid tissues trap and remove bacteria entering the throat: A) axillary lymph nodes B) cervical lymph nodes C) tonsils D) Peyer's patches E) thymus gland Answer: C Diff: 2 Page Ref: 4088) Which one of the following is NOT a type of lymphoid organ: A) spleen B) thymus gland C) tonsils D) appendix E) Peyer's patches Answer: D Diff: 2 Page Ref: 407-408 69) The lymph organ that programs T cells and functions at peak levels only during youth is the: A) thymus B) spleen C) appendix D) tonsils E) Peyer's patches Answer: A Diff: 2 Page Ref: 40810) The lymph tissues found within the walls of the small intestine are called: A) tonsils B) appendix C) Peyer's patches D) thymus tissues E) intestinal nodes Answer: C Diff: 2 Page Ref: 40811) Which of these lymphoid organs is found along the left side of the abdominal cavity: A) spleen B) Peyer's patches C) thymus gland D) tonsils E) axillary lymph nodes Answer: A Diff: 1 Page Ref: 40712) Musoca-associated lymphatic tissue (MALT) includes: A) spleen B) thymus gland C) tonsils only D) tonsils and Peyer's patches E) tonsils and spleen Answer: D Diff: 3 Page Ref: 40813) The body's first line of defense against the invasion of disease -causing microorganisms is: A) phagocytes B) natural killer cells C) skin and mucous membranes D) inflammatory response E) fever Answer: C Diff: 2 Page Ref: 409 714) Compared to the nonspecific chemicals that cover body surfaces and mucous membranes, the specific body defense system is: A) faster B) slower C) the same speed D) sometimes faster and sometimes slower E) not comparable in speed Answer: B Diff: 2 Page Ref: 40915) Which one of the following is NOT one of the nonspecific body defenses: A) intact skin B) antibody production C) the inflammatory response D) fever E) natural killer cells Answer: B Diff: 2 Page Ref: 409-41516) The process by which neutrophils are squeezed through the capillary wall s during the inflammatory process is called: A) agglutination B) chemotaxis C) diapedesis D) coagulation E) antibody production Answer: C Diff: 2 Page Ref: 41217) Which one of the following is NOT one of the four most common indic ators of the inflammatory response: A) redness B) heat C) swelling D) fever E) pain Answer: D Diff: 1 Page Ref: 410-41218) The migration of phagocytes and white blood cells to an inflamed ar ea along a chemical gradient is called: A) diapedesis B) chemotaxis C) immunity D) perforins E) complement fixationAnswer: B Diff: 2 Page Ref: 411 819) The inflammatory process begins with release of chemicals, which do all of the following EXCEPT: A) dilate blood vessels B) attract phagocytes to the area C) stimulate release of lysozyme D) cause capillaries to become leaky E) activate pain receptors Answer: C Diff: 2 Page Ref: 411-41220) Tissues invaded by viruses, which attempt to replicate themselves by taking over cellular machinery, secrete small proteins called __________ to protect nearby cells and hinder further multiplication of the viruses. A) histamine B) interferon C) kinins D) interleukins E) pyrogens Answer: B Diff: 2 Page Ref: 413; 41521) The body's temperature-regulating â€Å"thermostat† that can be reset upward in response to pyrogens is located in the: A) hypothalamus B) thalamus C) pineal gland D) cerebellum E) medulla oblongata Answer: A Diff: 1 Page Ref: 41522) Fever has the effect of doing all of the following EXCEPT: A) denaturing (scrambling) proteins B) stimulating the liver and spleen to gather up iron and zinc C) increasing metabolic rate of tissue cells D) stimulating complement fixation E) speeding up repair processes Answer: D Diff: 3 Page Ref: 41523) The study of immunity is called: A) histology B) anatomy C) pathology D) immunology E) microbiology Answer: D Diff: 1 Page Ref: 415 924) Which of the following substances is NOT typically perceived as an antigen: A) pollen grains B) bacteria C) self-antigens D) fungi E) virus particles Answer: C Diff: 2 Page Ref: 41625) Which one of the following CANNOT be said about the history of immunity: A) the ancient Greeks knew something existed within the body to protect it from infectious disease B) scientists of the 1800s discovered â€Å"factors† now called antibodies C) scientists of the 1800s demonstrated that immune serum could protect another animal from diseaseD) scient ists of the mid-1900s discovered the viral origin of AIDS E) scientists of the mid-1900s discovered that injection of serum containing antibodies did NOT always protect a recipient from disease Answer: D Diff: 2 Page Ref: 41526) Regardless of whether it matures into a B cell or a T cell, a lymphocyte that is capable of responding to a specific antigen by binding to it is said to be: A) clonal B) incompetent C) immune D) immunocompetent E) complemented Answer: D Diff: 3 Page Ref: 41627) The specific foreign substances that an individual's immune system has the ability to recognize and resist is determined by: A) individual exposure to the specific foreign substance B) individual genetic makeup C) the total number of lymphocytes present at a given time D) the total number of macrophages at a given time E) the total number of self-antigens at a given time Answer: B Diff: 3 Page Ref: 41728) Which one of the following is NOT true of macrophages: A) they are considered the â€Å"big eate rs† of the immune system B) they engulf foreign particles C) they circulate continuously throughout the body D) they act as antigen presenters E) they secrete monokines Answer: C Diff: 2 Page Ref: 418 1029) B cells develop immunocompetence in the: A) thymus gland B) bone marrow C) spleen D) thyroid gland E) lymph nodes Answer: B Diff: 2 Page Ref: 41730) The specific type of acquired immunity that a fetus obtains from maternal antibodies that cross the placenta is called: A) naturally acquired active immunity B) naturally acquired passive immunity C) artificially acquired active immunity D) artificially acquired passive immunity E) artificially acquired natural immunity Answer: B Diff: 1 Page Ref: 42031) What specific type of acquired immunity do vaccines provide: A) naturally acquired active immunity B) naturally acquired passive immunity C) artificially acquired active immunity D) artificially acquired passive immunity E) naturally acquired artificial immunity Answer: C Diff: 1 Page Ref: 42032) Vaccines are NOT for: A) pneumonia B) tetanus C) measles D) snake bites E) polio Answer: D Diff: 2 Page Ref: 42033) Immune sera are used for all of the following EXCEPT: A) tuberculosis B) rabies C) snake bites D) botulism E) tetanus Answer: A Diff: 2 Page Ref: 421 1134) Which one of the following is NOT true of basic antibody structure: A) they consist of four amino acid chains B) they are linked together by disulfide bonds C) the heavy chains are identicalD) the heavy chains are about 400 amino acids long E) the light chains are often of differing lengths Answer: E Diff: 3 Page Ref: 421-42235) Which one of the following is NOT true of the constant (C) regions of antibodies: A) they are the same or nearly the same B) they form the â€Å"stem† of an antibody C) they determine the specific type of antibody class formed D) they form an antigen-binding site E) they determine how an antibody class will carry out its immune role Answer: D Diff: 3 Page Ref: 4223 6) Which one of the following is NOT one of the antibody classes: A) IgA B) IgB C) IgD D) IgG E) IgE Answer: B Diff: 1 Page Ref: 42237) IgA: A) is mainly found in mucus and secretions such as tears and saliva B) is passed from mother to fetus during pregnancy C) is the most abundant antibody in blood plasma D) can fix complement E) is involved in allergies Answer: A Diff: 3 Page Ref: 42338) Which one of the following is NOT a method by which antibodies inactivate antigen s: A) agglutination B) chemotaxis C) complement fixation D) neutralization E) precipitation Answer: B Diff: 2 Page Ref: 423-424 1239) The specific antibody class that has the ability to cross the placental barrier and provide immunity to the fetus is: A) IgM B) IgA C) IgD D) IgG E) IgE Answer: D Diff: 2 Page Ref: 422-42340) The process by which antibodies bind to specific sites on bacterial exotoxins (toxic chemicals secreted by bacteria) to block their harmful effects is called: A) agglutination B) chemotaxis C) co mplement fixation D) neutralization E) precipitation Answer: D Diff: 2 Page Ref: 42441) Antigen presentation is essential for the activation and clonal selection of: A) T cells B) B cells C) plasma cell D) antigen-presenting cells E) antibodies Answer: A Diff: 2 Page Ref: 42542) An isograft is a tissue graft donated by: A) an unrelated person B) a parent C) a different animal species D) the same person E) an identical twin Answer: E Diff: 2 Page Ref: 42743) Which one of the following is NOT a type of immunosuppressive therapy given after surgery to prevent rejection of a graft: A) corticosteroids B) radiation C) antiproliferative drugs D) gamma globulin E) immunosuppressive drugs Answer: D Diff: 2 Page Ref: 429 1344) With immediate hypersensitivy, the antibody class that binds to mast cells and basophils that trigger the release of histamine and other chemicals is: A) IgM B) IgA C) IgD D) IgG E) IgE Answer: E Diff: 2 Page Ref: 422-42345) Allergic contact dermatitis following skin co ntact with poison ivy would normally lead to: A) immediate hypersensitivity B) acute hypersensitivity C) delayed hypersensitivity D) anaphylactic shock E) immunodeficiency Answer: C Diff: 2 Page Ref: 43146) The relatively common autoimmune disease in which the thyroid gland produces excessive amounts of thyroxine is called: A) multiple sclerosis B) Graves' disease C) myasthenia gravis D) glomerulonephritis E) systemic lupus erythematosis Answer: B Diff: 2 Page Ref: 42947) Which one of the following is NOT an autoimmune disease: A) AIDS B) multiple sclerosisÃ'‚C) Graves' disease D) type I diabetes mellitus E) rheumatoid arthritis Answer: A Diff: 2 Page Ref: 429True/False1) The flaplike minivalves of the lymph capillaries act like one -way swinging doors that allow lymph fluid to enter the lymph capillaries but not exit. Answer: TRUE Diff: 2 Page Ref: 4042) The daughter cells of B cells, called plasma cells, release antibodies. Answer: TRUE Diff: 2 Page Ref: 418 143) Lymph in the ri ght arm is returned to the heart via the right lymphatic duct. Answer: TRUE Diff: 2 Page Ref: 4044) The thymus gland, found around the trachea, programs certain lymphocytes. Answer: FALSE Diff: 2 Page Ref: 4085) The tonsils, spleen, thymus gland, and Peyer's patches are referred to as mucosa-associated lymphatic tissue (MALT). Answer: FALSE Diff: 2 Page Ref: 4086) Natural killers are unique phagocytic defense cells that can kill cancer cells and virus infected body cells well before the immune system i s activated. Answer: FALSE Diff: 2 Page Ref: 4107) Some pathologists consider limitation of joint movement to be an additional fifth cardinal sign of inflammation. Answer: TRUE Diff: 1 Page Ref: 4128) The final disposal of cell debris as inflammation subsides is performed by neutrophils. Answer: FALSE Diff: 3 Page Ref: 4129) The nonspecific defense by which complement proteins attach to sugars or proteins on the surface of foreign cells is called complement fixation. Answer: TRUE Diff : 1 Page Ref: 41310) Chemicals secreted by white blood cells and macrophages exposed to foreign substances that can increase body temperature are called pyrogens. Answer: TRUE Diff: 1 Page Ref: 41511) Fever is a systemic response triggered by pyrogens. Answer: TRUE Diff: 2 Page Ref: 41512) Like all blood cells, lymphocytes originate from hemocytoblasts contained within red bone marrow. Answer: TRUE Diff: 3 Page Ref: 41613) Macrophages arise from monoctyes formed within the bone marrow. Answer: TRUE Diff: 2 Page Ref: 418 1514) Extremely weakened pathogens that are still alive are attenuated. Answer: TRUE Diff: 2 Page Ref: 42015) Artificially acquired passive immunity is conferred when o ne receives immune serum for poisonous snake bites. Answer: TRUE Diff: 3 Page Ref: 42116) Antibodies are also referred to as immunoglobulins. Answer: TRUE Diff: 1 Page Ref: 42117) There are three major immunoglobulin classes: IgM, IgA , and IgD. Answer: FALSE Diff: 2 Page Ref: 42218) The antibody a mo ther passes to her fetus is IgM. Answer: FALSE Diff: 3 Page Ref: 422-42319) The process that occurs when antibodies clump foreign cells is called agglutination. Answer: TRUE Diff: 2 Page Ref: 42420) Memory cells are descendants of an activated B or T cell. Answer: TRUE Diff: 3 Page Ref: 42721) An antibody is a substance capable of provoking an immune response. Answer: FALSE Diff: 2 Page Ref: 41622) Tissue grafts harvested from an unrelated person are called xenografts. Answer: FALSE Diff: 1 Page Ref: 42723) Allografts are tissue grafts taken from an unrelated person. Answer: TRUE Diff: 2 Page Ref: 42724) Allergies, or hypersensitivities, are normal immune responses. Answer: FALSE Diff: 2 Page Ref: 43025) Autoimmune diseases occur when the immune system loses its ability to tolerate self antigens while still recognizing and attaching foreign antigens. Answer: TRUE Diff: 3 Page Ref: 429 1626) Our immune system can be affected by severe stress. Answer: TRUE Diff: 1 Page Ref: 435 Matchi ng Match the following descriptions with the appropriate lymphoid organ or tissue:1) Located on the left side of the A) thymus gland abdominal cavity Diff: 1 Page Ref: 407 B) spleen2) Trap and remove bacteria and pathogens entering the throat Diff: 2 Page Ref: 408 C) Peyer's patches D) tonsils3) Located overlying the heart Diff: 1 Page Ref: 4084) Filters and cleanses the blood of bacteria, viruses, and other debris Diff: 2 Page Ref: 407-4085) Located in the wall of the small intestines Diff: 1 Page Ref: 4086) Located in the pharynx (throat) Diff: 1 1) B Page Ref: 408 2) D 3) A 4) B 17 5) C 6) D Match the following protective mechanism with its associated element:7) Traps microorganisms in A) nasal hairs respiratory and digestive tracts Diff: 1 Page Ref: 409 B) mucus C) acid mantle8) Inhibits growth of bacteria and fungi in female reproductive tract Diff: 1 Page Ref: 409 E) keratin ) Contains lysozyme Diff: 2 D) lacrimal secretions F) cilia Page Ref: 409 G) gastric juice10) Provides resistance against acids, alkalis, and bacterial enzymes Diff: 1 Page Ref: 40911) Filters and traps microorganisms within inhaled air Diff: 1 Page Ref: 40912) Contains concentrated hydrochloric acid and protein-digested enzymes that destroy pathogens within the stomach Diff: 1 Page Ref: 40913) Propels debris-laden mucus away from lower respiratory passages Diff: 1 7) B 13) F Page Ref: 409 8) C 9) D 10) E 18 11) A 12) G Match the following biological function with its antibody class:14) Believed to be cell surface A) IgD receptor of immunocompetent B cell Diff: 3 Page Ref: 422-423 B) IgG C) IgA15) First immunoglobulin class released to plasma by plasma cells during primary response Diff: 3 Page Ref: 422-423 D) IgM E) IgE16) Main antibody of primary and secondary responses Diff: 3 Page Ref: 422-42317) Bathes and protects mucosal surfaces from attachment of pathogens Diff: 3 Page Ref: 422-42318) Triggers the release of histamine Diff: 3 Page Ref: 422-42319) Potent agglutinating agent D iff: 3 Page Ref: 422-42320) Crosses placenta and provides passive immunity to fetus Diff: 3 14) A 20) B Page Ref: 422-423 15) D 6) B 17) C 18) E 19) DEssay1) Explain the origin and pathway of lymph. Answer: Lymph fluid arises from blood plasma that has been forced out of the capillary beds by osmotic and hydrostatic pressures. The fluid left behind is called interstitial fluid. The interstitial fluid is then picked up by lymph capillaries, after which it is called lymph. Lymph is routed up the lymphatic vessels until it is finally returned to the venous system through either the right lymphatic duct or the thoracic duct. Diff: 2 Page Ref: 403-404 192) Describe the methods the body uses to help return lymph to the heart.Answer: The return of lymph to the heart is aided by: 1. the milking action of the skeletal muscles, 2. pressure changes in the thorax during brea thing, 3. smooth muscles in the walls of the larger lymphatics contract rhythmically. Diff: 1 Page Ref: 404-4053) Describ e several of the protective chemicals produced by the skin and mucous membranes. Answer: Skin produces acid secretions that inhibit bacterial growth, and sebum contains chemicals that are toxic to bacteria. Vaginal secretions are highly acidic. The stomach mucosa secretes hydrochloric acid and protein-digesting enzymes, both of which can kill pathogens. Saliva and tears contain lysozyme, an enzyme that destroys bacteria. Mucus is a sticky mucous membrane secretion that traps microorganisms. Diff: 2 Page Ref: 4094) Identify the four most common indicators and major symptoms of an acute inflammatory response and explain their origins. Answer: The four most common indicators of the inflammatory response are redness, heat, swelling, and pain. Redness and heat are a result of dilation of blood vessels that increase blood flow to the injured area. Swelling occurs when increa sed permeability of the capillaries allows plasma to leak from the bloodstream into the tissue spaces. The excess f luid, or edema, triggers the activation of pain receptors in the area, accounting for the pain associated with an injury. Diff: 2 Page Ref: 410-4125) List and describe the cells and chemicals the body uses as its second line of defense. Answer: 1. Phagocytes, such as neutrophils or macrophages, engulf foreign particles. These cells are in nearly every body organ and confront pathoge ns that make it through the surface membrane barriers. 2. Natural killer cells, found in blood and lymph, are lymphocytes. They can lyse and kill cancer cells and virus-infected body cells. 3. The inflammatory response is a nonspecific response that occurs when body tissues are injured. Diff: 2 Page Ref: 409-4116) Describe the four major types of transplant grafts. Answer: Autografts are tissue grafts transplanted from one site to another within the same person. Isografts are tissue grafts harves ted from a genetically identical person (identical twin). Allografts are tissue grafts harvested from an unre lated person. Xenografts are tissue grafts harvested from different animal species. Diff: 2 Page Ref: 4277) Explain three current theories that attempt to explain why self-tolerance breaks down in autoimmune disorders.Answer: Inefficient lymphocyte programming is one theory that suggests self-reactive B or T cells escape to the rest of the body. Another theory is that self -proteins appear within the circulation that were not previously exposed to the immune system, thus initiating an immune response. These â€Å"hidden† antigens are found in sperm cells, the eye lens, and thyroid proteins. Another theory is that antibodies produced against fore ign antigens cross-react with self-antigens such as when streptococcal bacteria crossreact with heart antigens causing rheumatic fever. Diff: 3 Page Ref: 429 20

Business Models and Planning Chapter Questions Assignment - 2

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Advertising as social communication -- semiotics Essay

Advertising as social communication -- semiotics - Essay Example Karl Marx has defined commodities as products that are independent in nature and have some form of value that humans need or enjoy (Economic Manuscripts, 1993). The ad that is chosen for this particular topic is that of Marlboro cigarettes which are quite known and popular in the world being one of the most bought of that particular commodity. Cigarettes are now sold worldwide and a large part of the global population smoke and the tobacco companies are trying harder now than ever to maintain the brand loyalties that they have earned over the years from their customers. Not only this, companies strive now at a greater pace to perhaps snag a few customers from other brands or to pull in those who have recently begun smoking. So one can say that Marlboro cigarettes are a lifestyle commodity and one of which the exchange value sign value has been overshadowed by its use value. As in the marketing world exchange is a major component and for any exchange to take place there has to be knowledge in the minds of the consumers or buyers and sellers. This particular ad attempts to project to the general public that their particular need can be complimented by the use of this particular brand of cigarette. Thought a lot of advertisements may rely on the idea of abstraction to convey their message across to the public there is a certain risk that is to be ascertained when this route is taken. Not everyone may be on the same page as those who created the advertisement and the whole concept may not even be mean what the people behind the desk even wanted. There is no real form of abstraction in this particular advertisement that has been published by Marlboro. The simple idea is to introduce the product and a male figure has been introduced with who the male population at large is sensed to be on the same level with. The typical western theme that has been employed by this particular company again is highlighted as a sense of manliness is trying to

Discounted cash flow Essay Example | Topics and Well Written Essays - 750 words

Discounted cash flow - Essay Example One of the valuation tools that analysts use to determine the stock valuation is discounted cash flow. They try to determine current value estimating future cash flows. Cash Flow is taken into account while making all estimations. Cash Flow (Free) gives far clear picture about the company for it takes into account the change in working capital as well as all investments made during the period. It can be expressed as under. Cash Flow = Net Profit+ Depreciation/Amortization-Expenditures-changes in working cap. Analysts take into account cash flows because it is difficult to manipulate while earnings can be manipulated and adjusted. (Free Cash†¦) When estimated cash flows are discounted to the present value as per the cost of capital for the number of years of operation, it gives a clear picture for the benefits accrued from the investments made in the company. Mathematically, it can be expressed as Present Value = CF1/(1+K)+ CF2 / (1+K)2 +CF3/ (1+K)3 +.......[TCF / (K  - R)] / ( 1+K)n-1 CFi = Cash flow in the year 1, 2, 3†¦ K = discount rate TCF = Cash flow in the terminal year R= growth rate assumption beyond terminal year n = the number of years including the terminal year In short, above model gives the present value of the company based on the cash flow estimates of the future. DCF analysis implies that the company is worth all the cash that can be made available to the investors in the future. Future cash flows are discounted to the present value so that comparison becomes possible on investments made and benefits accrued. All future benefits of the investments made accrue at different time intervals, for example, at the end of year 1, 2, 3, and so on. Methodology and formula is same for all the analysts yet end results will differ for the following reasons. 1. The Discount Rate taken into calculation will be different for different analyst. The discount rate is usually the cost of capital. Each company is made of debt and equity in its capital st ructure. The cost of debt can be known easily as per the going rate in the market but estimating the cost of equity is a bit complicated task where each analyst applies his or her judgment. The equity is shareholder’s money and not without the cost. It has also certain indirect cost implications. The share holders of the company expect to obtain a certain return on their equity investments. Equity is a risk capital and depending upon the general economic conditions of the market, share holder wants certain minimum return over and above risk free return available to them in the market. If the company does not meet shareholder’s expectation, they will simple exit from the company. That will cause the fall in the market price of the shares. In other words, the company must give some minimum return to the shareholders to maintain the price of shares in the market. This is, in a way, the cost of equity for the company. Every analyst will have own perception on this cost of equity. Thus, each analyst will have some different discounting factor in their mind. This will also vary as per the economic conditions of the country and risk factors associated with the company. 2. Cash Flow Forecast is another critical parameter where two analysts estimate always differ. It is always easy to forecast the cash flow for a few years down the line but it is not possible to have these estimates without error beyond few years. Each analyst’s perception about future market conditions and overall economic scenarios come into play. Some analyst may have a cautious approach in estimation of future cash flows while other may be a bit liberal or optimist in the projections. It is obvious that this will have a bearing on the valuation of the stock and cause variance on valuation of the stock. (Free Cash†¦) 3. The Growth Rate beyond the terminal year is a long visionary assumption. Farther we go, more difficult it becomes to arrive at the agreement on values. When company reaches to the maturity cycle after a few years of operation, it

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