Abstract The following paper discusses elements such as room size, room composition, room shape, and the location of the listener and sound source, when designing theater acoustics. Finding the ultimate impulse response with testing is also discussed.
From the paper:
?It has been considered that gross errors in concert hall design are rarely due to use of the wrong absorption coefficients, as most of the materials used are highly reflective. A theatre audience first hears sound generated from the source. Then they will hear attenuated bounces of sound off the walls. The sound is again and again reflected off the walls, resulting in total reverberation of the sound. In a large room such as a theatre, reverberation time can be as long as four seconds.?
Abstract This paper details the cost information needed to analyze a proposal from hypothetical company X's marketing department to lower prices by ten percent on a product or service that has a price elasticity coefficient of 2.5, in an attempt to increase sales revenue and ultimately overall profit. In addition to exploring the overall benefits and detriments of pursuing this course of action, this paper also evaluates the effect of possible competitive responses by other companies who compete in the same arena.
From the Paper "While this result would be positive for the marketing department, as the increase in sales revenue would increase their bonus level, it would be detrimental to the general manager as his / her compensation is based upon meeting profit targets. Additionally, the company as a whole will not benefit from taking actions that reduces long-term profitability. The only way that the marketing department's suggestion could work in this scenario would be if the increased sales would lead to permanent market share gains that could be made more profitable down the road, when some of the company's cost expenditures can be reduced. If that were the case the company would also need to consider if they could afford the reduced profit margins long enough to see a long term increase in market share."
From the Paper "Determined in this experiment were the solubilities and mean activity coefficients of various solutions containing different ionic strengths. These measurements were achieved by the simple distillation of calcium iodate solutions against thiosulphate and a starch indicator. The data obtained from these results led to the determination of the concentrations of the calcium salt, the concentration of the iodate salt, C, u, u1/2 and [2A(u)1/2]/[1 + B(u)1/2]. A plot of log10C versus [2A(u)1/2]/[1 + B(u)1/2] allowed for the calculation of K. The value of K obtained was 1.0789 x 10-6 + 0.0037. Three different values of the mean activity coefficients were tabulated. From the tabulated values it was observed that the experimental values were larger than the theoretical values."
Abstract The folowing paper aims to find the force required to move blocks of different weights across different surfaces, thus finding a value for friction and comparing the results with that of a textbook and recording any differences. The conclusion found in this paper is that friction is directly proportional to the weight force applied and is measured in terms of the coefficient of friction, represented by the Greek letter mu (m).
From the Paper "The coefficient of friction is the ratio of the frictional force present and the normal reaction to the mating surfaces and is represented as,
m = Ff ? Rn
Rn = Normal reaction, weight force
Fn = Frictional force
But may also be worked out by dividing the force required in Kg by the weight of the object. Eg the force required to move a 25Kg object is 5Kg so to work out the coefficient of the object we would divide 5 by 25 to give a coefficient of 0.2.
Because of this the surface area of the block is independent to that of the coefficient and is not needed when determining a value for friction.
The coefficient of wood against wood is 0.35 giving a relatively low value for friction whereas rubber against concrete is 0.8 meaning it would be hard to slide rubber on concrete. The coefficient can be greatly reduced if a lubricant of some sort is applied in between the surfaces as it forms a layer preventing the bumps on the surfaces rubbing together making it easier to slide the objects past each other."
Abstract Discusses an experiment of the shielding of radiation. The experiment uses fluid flow measurements and the method of continuous flow to determine the coefficient of viscosity. Includes the calculations and results of the said experiment as well as diagrams. Discusses the conclusions and several human errors that happened when carrying out the experiment.
From the Paper "There are two different ways water can flow this can be either streamline or turbulent. When a liquid has a streamline its particles flow in regular and smooth paths called streamlines. In this type of motion the viscous drag opposing the flow is proportional to the average velocity of the liquid. In turbulent flow, the particles have irregular motion therefore the viscous drag is proportional to the square of the velocity. "
Abstract This paper begins with a description of an article about volume translation technique and how it is widely used in in the field of chemical engineering. The paper explains the intent of the authors of the article, their findings, and the conclusion of the article. The paper then critiques the article and points out both its positive and negative aspects.
From the Paper "The authors of the article are interested in studying various ways of developing equations of state, and they demonstrate that both theoretical and empirical approaches to equations of state can show them nonphysical behavior. They consider this information significant, but are also quick to point out that there is more to their research than just this bit of information. They are also interested in a clear and comprehensive understanding of the reasons for this. They believe that finding these reasons will help them and others to develop reliable equations, and that these equations can be based on both theoretical and empirical methods. Being able to do this would go a long way toward helping researchers who are working with information involving the development of equations of state."
Abstract This paper examines the main hypothesis of whether increases in disposable income, cause an increase in domestic travel, and the sub-hypothesis of whether domestic travel is a normal or luxury good. The paper explains that the main aim is to determine the true nature of the relationship between disposable income and domestic travel. The paper further explores the effect of disposable income on domestic travel. In conclusion, the paper shows that a complete model of domestic travel entails looking at all determinants of travel as a supposed explanatory variable before the relationship between personal disposable income and domestic travel can be analyzed and this is necessary so that the relationship coefficients are unbiased.
Outline:
Literature Survey
Theory and Hypothesis: What is the Effect of Disposable Income on Domestic Travel
From the Paper "Research that has centered on domestic travel, began as early as the 1960's, especially in wake of the fact that in many developed countries citizens were spending excessively on travel. Empirical studies by Gray found that disposable income was a major determinant of travel. Gray's analysis was an econometric model that included explanatory variables such as the foreign exchange rate, fare payments abroad, and travel spending by local residents. Gray's work also included another element that was absent in other papers, that is, Gray found that the prices of goods and services while traveling were an important determinant of travel. This particular model is important to the testing of the relevant hypotheses since, it gives a clear picture as to what the complete model of domestic travel should entail as explanatory variables. It is therefore less likely to get a biased determinant if all the necessary independent variables are included in the model; Gray's research paper dictates what these variables should be."
This paper looks at how the writer's attitudes towards poverty have changed after reading the first four chapters of "Poverty and the Modern Welfare State" by Raphael, Dennis.
Abstract In this article, the writer explores some of his previous misconceptions held regarding poverty and policy in Canada and also details how this course has produced a reconsideration regarding his hitherto unshakable faith in globalization and in free markets. The writer delves into a personal opinion of what it means for Canada that so many groups and individuals are poverty-stricken and further asserts why it is that the GINI coefficient detailed in the textbook is the most effective measure for gauging poverty insofar as it crystallizes how so many Canadians are falling behind in an ostensible age of plenty. The writer concludes that the troubled groups discussed in chapter three are not poor because they choose to be but because our society has done a poor job of "spreading the wealth" - and an even worse job of acknowledging the reality of widespread poverty.
From the Paper "When I first began this course, I was, by my own admission, a pretty naive person when it came to poverty in Canada. For one thing, I did not really consider poverty to be a serious or pervasive problem in this land; I also did not appreciate just how pervasive has become child poverty. Moreover, I must say that I never really considered the serious democratic threat that poverty represents; to put it another way, the most disenfranchised people in our society are invariably the poorest, and that is something most Canadians, myself certainly included fail to appreciate when we complain about low voter turnout at election time or when we complain about the relatively low participation rates of some groups. One other belief I held as I entered the course was the curious belief that there is no correlation between government "tolerating" poverty and high poverty rates; rather, I clung to the fiction that, as long as a society embraced equal opportunity for all, poverty rates would never climb relative to other societies that, on the surface, seemed less ideologically committed to the old view that people could achieve anything - as long as government stayed out of their lives and as long as they were prepared to work tirelessly towards a long-term goals."
Abstract This paper explains that the goal of its thesis is to conceive a model to manage the global interest rate risk of the commercial portfolio in order to determine the optimal structure of the new production and to test the tool on the Credit Foncier de Monaco, private banking and subsidiary of Calyon, which is obviously the investment banking of Credit Agricole. The paper's thesis is divided into two main sections: the theoretical modeling and the empirical application.
Table of Contents:
Abstract
Abbreviations
Introduction
Theoretical Modeling
Identification
Interest Rate
Nominal vs. Real Rate
Fixed vs. Variable Interest Rate
Short-Term vs Long-Term Rates
Spot vs. Forward Rates
Term Structure of Interests
Theories
Methods
Deterministic and Stochastic Models
Sources of Interest Rate Risk
Repricing or Maturity Mismatch Risk
Basis or Bid-Ask Spread Risk
Yield Curve Risk
Options Risk
Interest Rate Exposure
Net and Gross Positions
Balance-Sheet & Gap
Profit and Loss Statement and Spread
Factors
Measurement
Volume
Instantaneous Gaps
Generalized Gaps
Indexed Gaps
Simulated Gaps
Value
Duration
Convexity
Market
Margin
Sensitivity
Modified Duration and Relative Convexity
Money Markets Rates
Management
Hedging And Speculation
Micro or Macro Hedging
Systematic or Selective Hedging
Partial and Total Speculation
Hedging Risk and Opportunity Cost
Passive and Active Hedging
Passive Hedging or Beta Management
Active Hedging or Alpha Management
Instruments
Spot
Forward And Future
Fra And Swaps
Options
Modeling
Utility
Structure
Utility Function
Constraints
Regulation
Commercial
Model
Objective Function
Efficient Portfolio
Optimal Portfolio
Empirical Application
Presentation
Cfm
Treasury
Asset-Liability Management (Alm) Committee
Adaptation
Structure
Constraints
Rates
Simulation
Leverage
Regulatory Constraints
Variance-Covariance Matrix
Utility
Variances
Conclusion
Glossary
Appendix: Balance-Sheet + Profit & Loss Statement
Appendix: Balance-Sheets by Currency, Maturity and Interest Rate
Appendix: Gaps
Appendix: Correlation and Variance-Covariance Matrix
Appendix: Weightings and Balance-Sheets in March 2008
Appendix: Coefficients of Variation
Appendix: Objective Function for Different Aversions to Risk
From the Paper "Taking into account the stock and constraints, the model determines the optimal allocation of the production for different scenarios of rates level, rates volatility and risk aversion degrees. The bank hedges against the interest rate risk by optimally adjusting its production.
"The optimal portfolio is the tangent point between the efficient frontier and the indifferent curve. It is obtained by equalizing the marginal rate of transformation (MRT) to the risk to return, which is the slope of the efficient frontier, and the marginal rate of substitution (MRS) to the risk to return, which is the slope of the objective function."
Tags: tool transformation, tangent point, risk premium, asset management
Abstract This paper talks about dividend growth models, in particular the Gordon Growth model and the assumptions that one needs to take in the calculations. The paper includes the characteristics and limitations of dividend growth models and talks about CAPM, or the capital asset pricing model, which is based on three main parameters: the risk - free rate, the stock's beta coefficient and the expected rate of return for the market as a whole, used to calculate the market risk premium. The author compares the two models and explains why the modern portfolio theory is base on CAPM notions.
From the Paper "On the other hand, the CAPM is an easy to use and implement model, based on three main parameters: the risk - free rate, the stock's beta coefficient and the expected rate of return for the market as a whole, used to calculate the market risk premium. The model has a large applicability, mainly because it does not use dividend estimates for the future and thus works for organizations that do not pay regular dividends, but also because information on the three variables mentioned are usually public and thus one does not need to make additional estimates on the variables used. "
Tags: dividend growth models. growth rates, Modern Portfolio Theory
Abstract This paper explains that, even though transformation of deposits into loans generates a return but engenders financial risks and particularly an interest rate risk, the Basel II Committee does not provide any standardized method to manage this crucial risk. The author adapts the Markowitz portfolio selection theory on the banking, particularly on the commercial balance-sheet. This model is tested on Credit Foncier de Monaco and finds that this tool maximizes under constraints the risk-adjusted performance and determines the optimal allocation of the assets. In conclusion, the theoretical objectives are compared with the actual results. Numerous formulas are used throughout the paper and seven appendices are included.
Table of Contents:
Abbreviations
Introduction
Theoretical Modelling
Identification
Interest Rate
Nominal Vs. Real Rate
Short-Term Vs Long-Term Rates
Spot Vs. Forward Rates
Term Structure Of Interests
Theories
Methods
Deterministic And Stochastic Models
Sources Of Interest Rate Risk
Repricing Or Maturity Mismatch Risk
Basis Or Bid-Ask Spread Risk
Yield Curve Risk
Options Risk
Interest Rate Exposure
Net And Gross Positions
Balance-Sheet & Gap
Profit & Loss Statement & Spread
Factors
Measurement
Volume
Instantaneous Gaps
Generalized Gaps
Indexed Gaps
Simulated Gaps
Value
Duration
Convexity
Market
Margin
Sensitivity
Modified Duration And Relative Convexity
Money Markets Rates
Management
Hedging And Speculation
Micro Or Macro Hedging
Systematic Or Selective Hedging
Partial And Total Speculation
Hedging Risk And Opportunity Cost
Passive And Active Hedging
Passive Hedging Or Beta Management
Active Hedging Or Alpha Management
Instruments
Spot
Forward And Future
Fra And Swaps
Options
Modelling
Utility
Structure
Utility Function
Constraints
Regulation 40
Commercial
Model
Objective Function
Efficient Portfolio
Optimal Portfolio
Empirical Application
Presentation
Cfm
Treasury
Asset-Liability Management (Alm) Committee
Adaptation
Structure
Constraints
Rates
Simulation
Leverage
Regulatory Constraints
Variance-Covariance Matrix
Utility
Variances
Conclusion
Glossary
Appendices
Balance-sheet + Profit & Loss Statement
Balance-Sheets by Currency, Maturity and Interest Rate
Gaps
Correlation and Variance-Covariance Matrix
Weightings and Balance-Sheets in March 2008
Coefficient of Variations for Different Scenarios
Objective Function for Different Aversions to Risk
From the Paper "The bank uses options to hedge against the exercise of inserted options. The interest rate option is the right for the holder to borrow from (put) or lend to (call) the writer an underlying at the strike rate against a premium at each date (American option), at predetermined dates (Bermuda option) or at maturity (European option). The basis strategy of the bank is long call or short put in case of decrease of interest rates and short call and long put in case of increase of interest rates."
