Essay on Options and Firm Offers

Essay on Options and Firm Offers Essay on Options and Firm Offers Essay on Options and Firm Offers  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The option C is the enforceable contract that Sally and Louie may have upon signing the paper. This contract is enforceable since it contains the promise of Sally to reserve her Monday mow for Louie until 5 p.m. and Louie promises to handle her $5Issue  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The issue is the establishment of the contract between Sally and Louie, where Sally promises to reserve her Monday mow for Louie until 5 pm, when Louie is supposed to take the final decision and enforce the contract by handling Sally $5 and agreeing to the contract’s conditions.Rule  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The rule is the restatement, para. 87 option contract, according to which an offer is binding as option contract if it is written and signed by the offeror and is made irrevocable by the statute.Rule explanation  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The rule means that the parties h ave signed the contract and the binding of the contract makes it irrevocable that means that if either party refuses from the contract by violating its provisions becomes responsible for the breach of contract.Application  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In case of Sally and Louie the application of the rule means that Louie should either agree and accept Sally offer by 5 pm and handle her $5 or, alternatively, he should refuse from the contract and did not accept the offer made by Sally. Sally in her turn should wait until 5 pm and set herself free to choose any other client to contract her Monday mow. She may act in the same way, if Louie refuses to pay her $5, if he accepts her offer.Conclusion  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thus, Sally and Louie have a binding contract, which is enforceable by 5 pm upon options determined in the written form of the contract.

Irreparable vs. Unrepairable

Irreparable vs. Unrepairable Irreparable vs. Unrepairable Irreparable vs. Unrepairable By Maeve Maddox A reader asks, What are the differences between the use of unrepairable and irreparable? Pronunciation note: Unrepairable: un-ree-PAIR-uh-buhl Irreparable: i-REP-uh-ruh-buhl Both words are used to mean â€Å"incapable of being mended,† but unrepairable is nonstandard in American usage. Some online dictionaries include entries for unrepairable, but others do not. If you use any of the following free online dictionaries, you won’t find an entry for unrepairable in them: Longman Macmillan American Heritage The Free Dictionary Cambridge (no entry in either the US or UK section) If your free dictionary of choice is one of the following, you will find entries for unrepairable in them: Collins Oxford Dictionaries (including the section for US English) Dictionary.com (based on the American Random House dictionary) Of the resources I rely on, the American dictionary Merriam-Webster Unabridged lacks an entry for unrepairable, but The Oxford English Dictionary lists the word with nine citations dating from 1600 to 2006- without any suggestion that the word is nonstandard. Another of my stalwarts, The Oxford American Writer’s Thesaurus, gives unrepairable without comment as a synonym for irreparable. Some commenters on language sites discern a difference of connotation, suggesting that unrepairable should be used to describe such things as damaged bicycles, toasters, and edifices, whereas irreparable should be reserved for reputations and things that are not man-made, like the environment. The following quotations illustrate the supposed distinction: Apples New Retina MacBook Pro is the Most  Unrepairable Laptop to Date.   The bike, a Ninja 300, was written off as unrepairable after the collision  . BUT, Attachment trauma, neglect and abuse cause irreparable damage in the developing neurons of the brain. An increase in cruise ships in the area threatens to cause irreparable damage to the continents pristine environment.   Such a distinction no doubt appeals to some people, but the futility of getting everyone to observe it is obvious to anyone who has ever tried to explain the difference between uninterested and disinterested. In practice, unrepairable and irreparable seem to be regarded as exact synonyms: Most automobile insurance policies cover the costs to repair a vehicle after a collision or some other insured cause, or if the damage is irreparable, the actual cash value of the vehicle. [The report] asserted that radiation exposure did unrepairable harm to genetic material and increased the probability of defects and mutations in future generations.   Incorrectly installed knives can cause  irreparable damage  to both the knives and the rotor, leading to serious destruction within the machine. Chlorine-free diapers are the same as regular disposables, and they wont expose your children to harsh chemicals or cause  unrepairable harm to the environment. I found this example of unrepairable in a legal context that definitely calls for irreparable: According to Stern, all three parties involved  Ã¢â‚¬Å"have made public remarks that are totally untrue, with evil malicious harmful intent to do the reputation and character of the plaintiff unrepairable harm.† The phrase â€Å"irreparable harm† is an established legal term. Its meaning is â€Å"harm that cannot be reversed or repaired.† The bottom line for American speakers is that unrepairable is nonstandard- for now. Note: Two other nonstandard forms sometimes seen are irrepairable and nonrepairable. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:How to Punctuate References to Dates and TimesBest Websites to Learn English20 Slang Terms for Law Enforcement Personnel

What Is Omitted in the Controversy Surrounding the Issue of Drugs Lega Essay

What Is Omitted in the Controversy Surrounding the Issue of Drugs Legalization - Essay Example For the United States, the drugs problem today has assumed the shape of the controversy about whether drugs use should be legalized. In this debate emotions often rule, when appeals to the conservative values of the nation are made by the adherents of the continuation of the current "War on Drugs" (Inciardi, 1999, p.128). However, we will see that significant benefits can be obtained from the legalization of drugs and from the shift from the drugs-related prosecutions to harm-reduction policies. Let us explore this issue in detail and try to see why this is the case. One of the strong arguments for legalization of drugs stems from the inadmissibility of the continuation of the current state of affairs, when hundreds of thousands of people are arrested every year and kept behind bars for possession of illegal substances for personal usage, and not for sale (Inciardi, 1999, p.133). At the same time, realistically looking at things we have to confess that even under such a harsh regime there has not occurred a significant reduction in drugs use, and there seems to be no perspective for such reduction at all. Indeed, the real problem with drugs is that for many people they have a unique ability to satisfy one of the fundamental human aspirations that lies in the need to escape from the numerous unpleasant aspects of our reality, even though doing so in a perverse way that may finally only aggravate the problems that we are trying to get rid of. If we understand this then we have to concede that drugs, in one form or another, are to stay with us perhaps forever. In this light, the disputable successes that proponents of the maintenance of the criminal status of drugs use to allude to when they defend their position may be misleading. Indeed, the measures of prosecution and compulsory rehabilitation of drug addicts substitutes one evil for another as they only add to the unhappiness of people who depend on drugs by intensifying in them an atmosphere of psychological tension that may actually contribute to the drug-oriented behavior and addiction.  Ã‚  

Civil Society Research Paper Example | Topics and Well Written Essays - 3500 words

Civil Society - Research Paper Example Therefore a civil society includes: Keeping in view the above scenario, it can be asserted that the role of civil society is extremely important as it plays the role of an umpire that functions to judge the conditions or the society. The different segments of the society which include the market, the state and the households perform their roles in an independent fashion. The civil society is the connecting link between these segments and plays its role to harmonize the interactions that exist between various segments. The reaction of civil society to any undue happening in this interaction is manifested in the form of protest. Kant’s opinion is that there is no universal law that can govern the functioning of all civil societies. Therefore, the development of a law to govern the functioning of a civil society may only regulate the society’s interaction with external factors. According to Kant, if such a universal law and a universal civil society were to exist it would be equal to universal peace. Civil society has also been used typically to develop public reasoning and resistance to forward deliberation and thinking. This process leads to the political process of voting and hence determines individual choices. However, Habermas disagrees; he believes that such open discussion do not always produce optimistic and positive results and can sometimes lead to disruptive influences. He proposes to use control over such debates in public open spaces and freedom of expression should be limited to bringing the society to a good turn. Regulator: the civil society keeps tabs on the State and the marketplace and keeps them in check. It compares their relative performances, their performance worldwide and their performance in accordance with the prevalent laws and brings all the key points of the errors to check and balance. Activist: the element of change

Negotiating International Market Essay Example for Free

Negotiating International Market Essay †¢Negotiating with international customers, partners, and regulator NEGOTIATIONS ARE FORMAL DISCUSSIONS B/W PEOPLE WHO HAVE DIFFERENT AIMS OR INTENTIONS , ESPECIALLLY IN BUSINESS ,DURING WHICH THEY TRY TO REACH AN AGREEMENT. Negotiating with international customers , partners and regulators often requires a lot of meticulous preparations and skill. Successful negotiation demands threadbare analysis and evaluation of the commercial and their impressive presentation and proper understanding and appreciation of the cultural nuances of the negotiating party and skilfully navigating the negotiation process accordingly. In order to successfully negotiate with international customers one needs impressive presentation skills, proper understanding of cultural nuances of the party with whom one plans to negotiate. Negotiations in the international scenario are governed by 4Cs they are common interests, conflicting interests, compromise and criteria. Government authorities can be viewed in two different view-points namely hierarchial view and bargaining view. Negotiation is a process in which at least one individual tries to persuade another individual to change his or her ideas or behavior. Business negotiations often involve one party attempting to influence another to make a particular decision of sign a contract. Thus negotiating is a process in which at-least parties with different view points and needs try to reach an agreement on matters of mutual interest. There are 4Cs of negotiation: 1. Common interests 2. Conflicting interests 3. Compromise 4. Criteria for agreement to hold The outcome of any negotiated agreement depends on the relative bargaining power of both parties. Negotiating Globally Negotiating effectively across cultures is one of the most important global business skills. Global negotiations contain all the complexity of domestic negotiations, with the added dimension of cultural diversity. Top managers spend more than 50% of their time in formal or informal negotiations. Two tables below highlight the differences in negotiating styles across cultures. When to negotiate? According to experts, negotiating is not always the best approach to do business. Sometimes the best strategy is â€Å"take it or leave it†, other times its bargaining. Negotiating demands more time and resources. Therefore managers must negotiate only when the value of the exchange is important. Negotiating is often seen as strategy to create a win-win solutions in business. Consider the following conditions while negotiating: 1. Your power position w.r.t that of the counterpart 2. The level of trust 3. Sufficient time available 4. True commitment to carryout the agreement. 5. The value of exchange 6. Importance to relationship The success of negotiations depends on: 1. Individual characteristics 2. Situational contingencies 3. Strategic tactical processes. Stages of negotiation: 1. Preparation 2. Relationship building 3. information exchange 4. Persuasion 5. Agreement Prerequisites for effective negotiation† 1. Selection of appropriate negotiation team. 2. Management of preliminaries,including training,preparations,and manipulation of negotiation setting. 3. Management of the process of negotiations , that is , what happens at the negotiation table. 4. Appropriate follow-up procedures and practices. Cultural problems in international negotiations: 1. Language and non-verbal behaviors 2. Values 3. Thinking and decision making processes. Negotiating with regulators: in many instances government is a party in international business negotiations. there are two view points of the governmental authorith: 1. Hierarchical view 2. Bargaining view Deteminants of bargaining power: 1. Relative importance of the project. 2. Alternatives 3. Urgency 4. Strengths SUMMARY: . negotiation with international customers,partners and regulators requires impressive presentation and proper understanding and appreciation of the cultural nuances of the negotiating party. . common interests, conflicting interests,compromise and criteria are the 4 Cs of the negotiation. . there are two views of government authority: hierarchical and bargaining view

Consciousness and Intentionality of Action Essay -- Philosophy Philoso

Consciousness and Intentionality of Action ABSTRACT: One much discussed issue in contemporary philosophy is the relation between consciousness and intentionality. Philosophers debate whether consciousness and intentionality are somehow ‘connected’; whether we have reason to be more optimistic about an ‘objective,’ ‘scientific’ or ‘third person’ ‘account’ of intentionality than about an analogous account of consciousness. This paper is intended as a limited contribution to that debate. I shall be concerned only with the intentionality of action. Not everything which is true of intentionality of action is true of intentionality of other phenomena, such as beliefs. I shall discuss the question, ‘What is the intentionality of action?’ More specifically, I shall discuss one partial answer to this question: that a necessary condition of an agent performing a certain intentional action is that the agent is conscious of performing that action. This answer i s fairly unpopular in contemporary philosophy. In this paper, I shall try to say something about the ground for the rather wide-spread philosophical resistance to the answer, and I shall also outline the kind of considerations that I think are required to judge whether a wedge can or cannot be driven between consciousness and intentionality of action. One much discussed issue in contemporary philosophy is the relation between consciousness and intentionality. Philosophers debate whether consciousness and intentionality are somehow "connected" (see Searle, chap. 7); whether the one or the other is the "theoretically fundamental" one (see Dennett); and whether we have reason to be more optimistic about an "objective" or "scientific," or "third-person" "account" of intentionality ... ...6) The Conscious Mind: In Search of a Fundamental Theory, Oxford UP. Dennett, Daniel C. (1994) "Dennett, Daniel C" in A Companion to the Philosophy of Mind, Samuel Guttenplan, ed., Oxford, Blackwell. Dreyfus, Hubert L. (1991) Being-in-the-World: A Commentary on Heidegger's Being and Time, Division I, Cambridge, Mass., MIT Press. Kripke, Saul A. (1982) Wittgenstein on Rules and Private Language, Cambridge, Mass., Harvard UP. Lycan, William G. (1996) Consciousness and Experience, Cambridge, Mass., MIT Press. McGinn, Colin (1996) The Character of Mind: An Introduction to the Philosophy of Mind, 2nd ed., Oxford UP. McGinn, Colin (1991) The Problem of Consciousness, Oxford, Blackwell. Searle, John R. (1992) The Rediscovery of the Mind, Cambridge, Mass., MIT Press. Wittgenstein, Ludwig (1958) Philosophical Investigations, 2nd ed, Oxford, Blackwell.

The Roles and Achievements of Prime Ministers

Name Tutor Course Date The Roles and Achievements of Prime Ministers John a Macdonald and Laurier Sir John a MacDonald was the first prime minister of Canada and was the dominant representative of the Canadian confederation. He was born on the 11th January 1815 and passed on 6th June. His term in office was 18 years long which places him to the second longest serving prime minister in Canada. He is the only one to ever win six majority governments (Hennessy 12). As for Sir Wilfrid Laurier, he was the seventh prime minister, Born on 20th November 1841 and passed on on the 17th February 1919. He was the first francophone prime minister and was considered one of the countries superb statesmen. As compared to his counter part John a MacDonald, sir Wilfrid was also in the list of the longest serving prime ministers in Canada although him coming in as position four. Sir Wilfrid also contributed to the expanding of the confederation. Sir John MacDonald was born in Glasgow Scotland was the third in a family of five while Sir Wilfrid laurier was born in Saint-lin Canada East and was the 7th generation of his family. MacDonald’s parents decided that he should become a lawyer after his completion of schooling. It was a great choice for a boy who seemed to really admire studying and beside that he had an urgent to start earning cash in order to support his family since his fathers business ventures were failing. As compared to Macdonald Lauriers’ father was well up and by the age of eleven he was sent to study in new Glasgow. Macdonald had a rather sorrowful and tragedous private life. When Sir Macdonald first came into office he was faced with major opposition. Nova Scotia was already threatening to withdraw from the confederation; the Anglo-American relationships were in a poor state. In 1867 the first general elections were held and this is where MacDonald had his first major achievement. He was able to bring together Nova Scotia New Brunswick and the province of lower and Upper Canada to form the state of Canada of which guaranteed him election stress free. MacDonald’s main vision was to enlarge the country and bring it together in unity. Under his rule he rought British Colombia, PIE, and great North West territories into Canada all this for ? 300,000 (about $11,500,000 in modern Canadian dollars). Macdonald’s still biggest achievement as a prime minister was the building of the Trans continental railway which was completed in 1891 (Leonardo 219). He also managed to create a god relationship with the United States rising to the challenge of the Northwest rebellion and his balancing of French and English interests in accept able terms for most. Sir Wilfrid Laurier is known to have had a number of accomplishments as a prime minister. To begin with he was able to establish the department of labour and external affairs, he also managed to recruit immigrants into the west, and in 1905 he oversaw the creation of two provinces Alberta and Saskatchewan into the confederation which saw the creation of the last two provinces in the Northwest Territories (Picknett, Prince, Prior & Brydon 290). He also saw the beginning of the two new transcontinental railways although the project was filled with scandals. He also made a deal with the united state for lower rates on natural products. The two prime ministers are to date considered being the greatest of all time. This Great statesmen had a couple of similarities if we scrutinses them properly. One similarity was that both of them were students of law. MacDonald studied law in Toronto where he traveled by boat whereas sir Wilfrid studied law in New Glasgow. These two men had a vision of the expansion of the country of Canada since both of them contributed to the increase of the confederation. Sir MacDonald helped bring the provinces of Upper and Lower Canada, Nova Scotia, and New Brunswick together in 1867 to form Canada while Sir Wilfrid Laurier had the provinces of Alberta and Saskatchewan created in 1905 which saw the last spit of the Northwest Territories. Sir Macdonald oversaw the establishments of the first transcontinental railway and Sir Wilfred Laurier also oversaw the establishment of tow more transcontinental. Sir MacDonald negotiated the relation ship with the United States and this was also exhibited by sir Wilfrid. The above similarities signify that both of the prime ministers were both devoted and dedicated to the development of Canada. These similarities only signify their similarities in ensuring a proper Canada but these two men had other similarities because they were both the first in whatever they did. MacDonald was the Prime minister of Canada while Sir Wilfrid Laurier was the first francophone prime minister. In the common life Sir MacDonald and sir laurier had a couple of differences . Sir MacDonald came from a family that was not all that well up as compare do to sir Wilfred, he studied law in order to be able to put a meal on his families table since all his fathers ventures were crumbling as compared to Wilfred who studied Law as his passion. Sir Wilfred and Sir MacDonald left a legacy in Canada and are both commemorated in big ways. Both of them have the pleasure of having holidays celebrated in their hournor; they both have avenues named in their respect such as the Laurier Avenue. These two statesmen had very minimal similarities and difference and these was due to their characters but both will live to be legends as far as Canada is concerned. Works Cited Hennessy, Peter. Prime Ministers: The Office and its Holders since 1945. Cambridge: Cambridge Press, 2001. Leonardo, Gordon. Review of Prosperity and Misery in Modern Bengal: The Famine of 1923–1944. American Historical Review, 88. 4 (1983): 218 – 230. Picknett, Lynn, Prince, Clive, Prior, Stephen, and Brydon, Robert. War of the Windsors: A Century of Unconstitutional Monarchy. Chicago: Mainstream Publishing, 2002.

Cheif Joseph’s Speech

Speech by Chief Joseph Summary: Chief Joseph of the Nez Perce Indian tribe is trying to persuade the American people that they should try to change their ways. He does not feel as though they are being treated equally. The American government is pushing them to live in the places they demand. Chief Joseph gives a speech persuading the Americans that it is possible for the two conflicting groups of people to live in peace and get along. He just wants his people to be treated fairly without causing harm and preventing future harm. Causes: There are many different reasons that caused the Americans to continue to govern the Indians in an unfair way. First, they were showing a misuse of authority. They believed they could overpower the Indians and tell them what to do without even considering making peace with them. Also, the Americans had a great deal of ethnocentrism. They believed that their way of ruling was correct without exceptions. Since the Indians were different in their culture and the way they lived, Americans considered them to be â€Å"wrong†. So they put forth the effort to change the Indians so they were â€Å"right†, which was the way Americans wanted them to live. Personal thoughts: I believe that Chief Joseph used many rhetorical appeals and other devices in his speech which helped make it more convincing. His use of logic and emotion makes his point of view very appealing. The use of repetition really helped get his point across and the use of ethos, pathos, and logos made his side a lot more believable because it makes you think and eventually realize that his speech makes sense and it leads you to agree with what he is saying.

Heroism Around Us

Heroism Around Us Heroism Around Us Media have created quite a specific image of a hero. Thus, a hero is a strong man / woman with certain abilities and specific attitude towards social rules. Of course, Superman and Batman are not the only heroes. There are various illustrations of heroic deeds of fictional athletes, police officers or special agents.Advertising We will write a custom essay sample on Heroism Around Us specifically for you for only $16.05 $11/page Learn More However, these are not realistic illustrations of heroes. There are lots of truly heroic people in the real world. The heroic deeds of these people are overshadowed by fictional stories. However, they are worth more attention. A girl who sacrifices her life to save her friends, a single mother struggling with numerous constraints and a teenager who is eager to obtain education to help his/her relatives are all heroes as they are doing little heroic things each day, instead of waiting for the chance to sav e the world from aliens. Negative Impact of Fictional Heroes In the first place, it is necessary to note that heroes created by the modern media often have a negative impact on people’s lives in the long run. Thus, young people become inspired by daredevils and diehards. Young people often make silly things and take risks even when it is not necessary and harmful for them as well as for those who around them. A good illustration of the harm of media is Walter Mitty who was always daydreaming (Thurber n.p.). The man always tried to escape from reality and he created a whole world of his heroic deeds. Admittedly, Walter MItty borrowed those images from the media. His daydreaming has made him simply incapable of doing something really meaningful. True Heroes At the same time, lots of people have no time for daydreaming as they are busy doing worthy things. For instance, Kira, who was only thirteen, died but she saved her friends from a car accident (Kleinfield A15). She was not thinking of her heroism or right things to do. She only knew she had to save her friends. This is true heroism. Unfortunately, the price is too high. Thus, heroes often do not think about their own good or even about their lives, they act and sacrifice themselves. Some may say that it is madness. However, madness is often associated with heroic deeds. Thus, madness was once called â€Å"divinest Sense† (Dickinson n.p.). Some do not understand heroic deeds and call them crazy. However, it is obvious that heroic deeds are often called crazy simply because they are different from what people tend to do in their everyday life. These deeds stand out from the rest of people’s activities. This is why people do not understand some of these deeds.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Sometimes the hero does not get killed, but he/she still sacrifices his/her life. For example, single mothers do not have a life of their own. They devote their lives to their children to help them find their feet. These heroic women have to work long hours and they still have time to comfort their children when it is necessary. These women can be compared to Moses. This Biblical hero also devoted his life to helping his people find the Promised Land. Notably, people were often dissatisfied with Moses and complained (The NKJV Study Bible, Exodus 16.1-3). Nonetheless, Moses was patient and did everything and even more to comfort his people. Likewise, single mothers often have to listen to their children’s complains. Nonetheless, these heroic women find courage to cope with all problems no matter what. Finally, teenagers who keep studying hard even though it is regarded as something weird and non-cool are also modern heroes. They are like Whitman’s spider that is not afraid of the darkness and keeps going further. Thus, the poet stresses that it is import ant to keep developing and moving forward irrespective of all difficulties (Whitman n.p.). Teenagers often think that rebellion consists in breaking rules and cutting class. Admittedly, sometimes it is important to break some rules. However, lots of teenagers understand the importance of education which is their future. It is also a way to help parents and relatives in the future. Again, such teenagers have to skip joys of their peers and focus on their studies. This is also a form of sacrifice. Conclusion To sum up, it possible to note that true heroes live in the real world. They do not save the planet from aliens, but they keep struggling and developing. These heroes sacrifice a lot and often are deprived of some joys. Nonetheless, all their efforts pay off eventually. Their sacrifice can never be fruitless. Thus, the girl who saved other children showed that courage and braveness are still in this world. She has become a model for lots of teenagers. Single mothers manage to brin g up their children properly. These children grow up and take good care about their courageous mothers. Resolute teenagers manage to obtain higher education and get a good job. They help their parents. Therefore, all heroic deeds in the real life help the human society develop. Dickinson, Emily. Much Madness Is Divinest Sense. 2013. Web. https://www.poetryfoundation.org/poems/51612/much-madness-is-divinest-sense-620.Advertising We will write a custom essay sample on Heroism Around Us specifically for you for only $16.05 $11/page Learn More Kleinfield, N.R. Mystery after Crash That Left Two Dead. The New York Times 1 Aug. 2011: A15. Print. The NKJV Study Bible. Ed. Earl D. Radmacher. Nashville, TN: Thomas Nelson Inc., 2008. Print. Thurber, James. The Secret Life of Walter Mitty. n.d. Web. Whitman, Walt. A Noiseless Patient Spider. 2013. Web. https://www.poetryfoundation.org/poems/45473/a-noiseless-patient-spider.

Analysis of Variance (ANOVA) - Definition

Analysis of Variance (ANOVA) - Definition Analysis of Variance, or ANOVA for short, is a statistical test that looks for significant differences between means on a particular measure. For example, say you are interested in studying the education level of athletes in a community, so you survey people on various teams. You start to wonder, however, if the education level is different among the different teams. You could use an ANOVA to determine if the mean education level is different among the softball team versus the rugby team versus the Ultimate Frisbee team. Key Takeaways: Analysis of Variance (ANOVA) Researchers conduct an ANOVA when they are interested in determining whether two groups differ significantly on a particular measure or test.There are four basic types of ANOVA models: one-way between groups, one-way repeated measures, two-way between groups, and two-way repeated measures.Statistical software programs can be used to make conducting an ANOVA easier and more efficient. ANOVA Models There are four types of basic ANOVA models (although it is also possible to conduct more complex ANOVA tests as well). Following are descriptions and examples of each. One-way between groups ANOVA A one-way between groups ANOVA is used when you want to test the difference between two or more groups. The example above, of education level among different sports teams, would be an example of this type of model. It is called a one-way ANOVA because there is only one variable (type of sport played) that is being used to divide participants into different groups. One-way repeated measures ANOVA If you are interested in assessing a single group at more than one time point, you should use a one-way repeated measures ANOVA. For example, if you wanted to test students’ understanding of a subject, you could administer the same test at the beginning of the course, in the middle of the course, and at the end of the course. Conducting a one-way repeated measures ANOVA would allow you to find out whether the students’ test scores changed significantly from the beginning to the end of the course. Two-way between groups ANOVA Imagine now that you have two different ways in which you want to group your participants (or, in statistical terms, you have two different independent variables). For example, imagine you were interested in testing whether test scores differed between student athletes and non-athletes, as well as for freshmen versus seniors. In this case, you would conduct a two-way between groups ANOVA. You would have three effects from this ANOVA- two main effects and an interaction effect. The main effects are the effect of being an athlete and the effect of class year. The interaction effect looks at the impact of both being an athlete and class year. Each of the main effects is a one-way test. The interaction effect is simply asking if the two main effects impact each other: for example, if student athletes scored differently than non-athletes did, but this was only the case when studying freshmen, there would be an interaction between class year and being an athlete. Two-way repeated measures ANOVA If you want to look at how different groups change across time, you can use a two-way repeated measures ANOVA. Imagine you’re interested in looking at how test scores change across time (as in the example above for a one-way repeated measures ANOVA). However, this time you’re also interested in assessing gender as well. For example, do males and females improve their test scores at the same rate, or is there a gender difference? A two-way repeated measures ANOVA can be used to answer these types of questions. Assumptions of ANOVA The following assumptions exist when you perform an analysis of variance: The expected values of the errors are zero.The variances of all errors are equal to each other.The errors are independent from one another.The errors are normally distributed. How an ANOVA is Done The mean is calculated for each of your groups. Using the example of education and sports teams from the introduction in the first paragraph above, the mean education level is calculated for each sports team.The overall mean is then calculated for all of the groups combined.Within each group, the total deviation of each individual’s score from the group mean is calculated. This tells us whether the individuals in the group tend to have similar scores or whether there is a lot of variability between different people in the same group. Statisticians call this within group variation.Next, how much each group mean deviates from the overall mean is calculated. This is called between group variation.Finally, an F statistic is calculated, which is the ratio of between group variation to the within group variation. If there is significantly greater between group variation than within group variation (in other words, when the F statistic is larger), then it is likely that the difference between the groups is statistically significant. Statistical software can be used to calculate the F statistic and determine whether it is significant or not. All types of ANOVA follow the basic principles outlined above. However, as the number of groups and the interaction effects increase, the sources of variation will become more complex. Performing an ANOVA Because conducting an ANOVA by hand is a time-consuming process, most researchers use statistical software programs when they are interested in conducting an ANOVA. SPSS can be used to conduct ANOVAs, as can R, a free software program. In Excel, you can do an ANOVA by using the Data Analysis Add-on. SAS, STATA, Minitab, and other  statistical software programs  that are equipped for handling bigger and more complex data sets can also be used to perform an ANOVA. References Monash University. Analysis of Variance (ANOVA). csse.monash.edu.au/~smarkham/resources/anova.htm

Economics cuurent macroeconomic situation Research Paper

Economics cuurent macroeconomic situation - Research Paper Example These figures are significantly showing progress but by no means indicate that things are turning out for the best (Avent, 2010). Unemployment and its direct correlation with inflation clearly show on these figures. This indicates that stimulus packages and the low interest rates provided by the government is showing its effects. Without these, businesses would not venture into accruing capital and entrenchment would ensue. More and more firms and departments are hiring temporary workers including census jobs which will show countercyclical effects. This suggests that confidence and optimism is slowly gaining momentum. It is a clear indication that more needs to be done before the country can truthfully say that it is out of the recession slump. Robert Reich (2010) suggests that only reason the economy is not in a double-dip recession is due to the boosts injected by the government. He further adds that 41,000 new jobs provided in May which mostly consisted of temporary Census workers is not enough. At the minimum, 100,000 new employments are needed every month to cope with the population growth. Apprehensions are now directed over what will happen once these are directly withdrawn from the economy. Policy makers play an integral role in ensuring the health of the economy doesn’t flat line. The applied easy money policy tools which are apparent in the contingency efforts of the government to stabilize the economy are already in place. It becomes indispensable at the current situation but â€Å"Effectively zero interest rates are creating distortions in capital markets. Monetary conditions need to be back to normal by the time economic slack disappears and inflationary pressures begin to reassert themselves† (Padoan, 2010). Government hand can only go so far before it reverts into prioritizing the need for other programs before money runs out and the Federal Reserve reverts to government