To what extent does financial engineering have an important role - Free Essay Example

Sample details Pages: 5 Words: 1649 Downloads: 6 Date added: 2017/06/26 Category Engineering Essay Type Analytical essay Did you like this example? As we are in modern world today, everything around us has been changing continuously. The world that we see today is different from the world in 40 years ago. Technologies are one example, which has been improving dramatically. Don’t waste time! Our writers will create an original "To what extent does financial engineering have an important role" essay for you Create order Letter had been a popular way to communicate and then land line telephone came to help communication more easily and the following is mobile phones, which have more and more convenient until today. The most important technologies are computer and internet. These technologies have improved from local communication to instant global communications. People from Africa can talk with his friend in Thailand within a few second of connecting. Furthermore, money can be transferred from country to another country within one day. Undoubtedly, people around the world have equal chance to take a great number of news, information of stock market and financial figures from all over the world. Hence, financial markets will respond without delay. It is clear that globalization has made information in financial market spread fast and developed in term of size and complication. Implication of globalization in financial markets is that there are more speculators, which increase volatility of financi al markets. The meaning of volatility of financial markets is amount ofÂÂ  uncertainty or riskÂÂ  about the size of changes inÂÂ  aÂÂ  securitys value. Due to the volatility of markets, they created an increasing demand for intelligent financial product to manage financial risk. This foundation contributes to establishment of financial engineering (Galitz 1994). This essay will provide background information of financial markets and financial engineering and then examine the role of financial engineering in financial market. The reader of this essay might have basic background in finance. Hence, technical terms are defined clearly and avoided to discuss in deep knowledge. Background knowledge of Financial Market Financial market is a market where financial asset are exchanged (Fabozzi, Modigliani, Jones, Ferri 2002). Financial asset can be classified as tangible asset (such as, money, building, land or machinery) or intangible asset (future benefit, patents). Participants in financial market are household, corporations or government. There are various ways that financial market can be classified. It can be classify by financial claim, such as debt market and equity market. Another type of classification, which is generally used, is classified by financial assets that are traded in. Firstly, it is capital market, where is divided into two submarket; stock market and bond market. Secondly, money market, it is a source of short-term borrowing and lending. Thirdly, derivative market, this market is necessary for financial engineering because it is where financial instruments are used to manage financial risk. Financial market can be found in almost countries in the world because of three main functions of financial markets. First, interaction of buyers and sellers in the market determine the price of the traded asset. The price depends on demand(buyer) and supply(seller) (Fabozzi 2002). Second, the market provides liquidity, which is offer investor to sell financial asset (Fabozzi 2002). Third, it reduces cost of transactions, which is search costs and information costs (advertisement) (Fabozzi 2002). Background knowledge of Financial Engineering The term financial engineering is defined in numerous definitions, but most definitions are about managing and reducing risk. It is generally defined that is application of various mathematical, statistical and computational techniques to solve practical problems in finance. Similarly, a few of definitions in books are explained in the same way. First, it is referred to adjustment or tuning existing financial product to increase profits or reduce risk in financial market that changing continuously (Eales 2000). Another definition that totally clarifies the concept of financial engineering is Financial engineering is the use of financial instruments to restructure an existing financial profile into one having more desirable properties (Galitz 1994). It seems that this term has wide range of definition due to a vast of utilization and knowledge in this field. Goal of financial engineering is different in each position in financial markets. There are two sides in financial market, which are buyer and seller. For buyer side, such as investor, an achievement is to take high profits from investment in financial markets. For seller side, such as the company treasurer, it may be diminished influences of currency on a project that is in initial stage (Galitz 1994). Hence, achievements of financial engineering depend on position in financial market. Instruments of financial engineering Mechanical engineer has knowledge about materials and machineries system such as, theories of solid and gear system. This knowledge seems to be tools of mechanical engineer that are applied to create new machinery. Similarly, financial engineering has knowledge about financial market, mathematics and computer programming, which are tools for managing risk in financial market. Many of instruments were invented or developed to do a particular job, whereas they were found to have an extensive variety of other uses as well. Therefore, each type of situation in financial market needs to be supplied by suitable instruments. Financial instruments can be divided into six sectors, which are fixed income instruments, equities, currencies and commodities, derivatives, credit instruments and structured products (Neftci 2008). In this essay will explain only financial instrument in derivatives market, which has futures contracts and options. However, swaps is another financial instrument in derivative market, I would not describe it in the essay due to complication of its structure. There are distinct characteristics of each financial instrument in derivatives market. First, a futures contract is a contract that is an agreement between two parties to buy or sell an asset at a certain time in future for a certain price (Hull 2006). For example, in July 2010, company A sign a future contract between company B that company B will sell live cattle 50 units to company A with unit price of 100 pounds in Dec 5, 2010. This means that at Dec 5, 2010 company A have to pay 5000 pounds to company B and company B have to transfer 50 live cattle to company A. The contracts can be any asset, such as pork, sugar, wool, stock indices and currencies. The benefits of futures in term of managing risk will be explained in later. The second instrument in derivative market is options. There are two basic types of options. A call option offers the holder the right to buy the underlying ass et by a certain date and a certain price. On the other hand, a put option gives the holder right to sell the underlying asset by a certain date and a certain price (Hull 2006). The price of the contract is called exercise price or strike price. The distinction between futures and options is that options allow the holder does not have to exercise, which mean holder have choices to sell or buy at favorite price, but the holder of future contract must buy or sell at certain price. Consequently, both futures contracts and options have similar condition, but they are use in different situation, which will be explained in next paragraph. Role of financial engineering in financial market (450) As I mentioned, roles of financial engineering are divided into sell side and buy side. Financial engineering is useful for those buy side and sell side. To begin with buy side, they can be person or company who want to buy futures contracts or options and used the contracts as a tool to hedge the risk. For example, suppose that it is Sep 5, 2009 , Import Co., based in United States , know that it will have to pay 10,000 pounds on Dec 5, 2009, for goods it has purchased from a British supplier. The USD-GBP is important factor that affect to the exact money (USD) that have to pay to British supplier on Dec 5, 2009. Hence, Import Co. can use futures contracts to hedge its foreign exchange risk by buying pounds (GBP) from financial institution in the 3-month forward. This would have the effect of fixing price to be paid to British supplier because whatever exchange rate in the next three months is Import Co can pay the same amount of money by using exchange rate in future contracts. F inancial engineering has responsibility to calculate exchange rate of future contracts that should buy. Hence, Risk in foreign exchange rate can be managed by financial engineering. Moreover, the buy side can be investors, who use financial engineering to maximize the income with utilizing the idle money. Financial engineering have mathematics and computer programming skill, which can create a model of any financial indices with a certain uncertainty. This is some examples of using financial engineering from buy side in financial market. For sell side, can be financial institution that set the price of futures and options in each contract. Price of options and futures for each contract have profound implication because they have to set in appropriate position. It seems setting price of goods. If the price is too low, company might lose money, whereas if the price is too high, consumers might not interest in this product. Another important role is that creating new financial instr uments. Financial market is developing everyday with an increasing of complicated structure. Thus, new financial instruments need to be created to manage new type of risk and There are wide ranges of financial instruments and they have numerous roles in financial markets. Development of financial market needs to support by new instruments. Hence, the role of financial engineering will be increased. Financial crisis and financial engineering (400) Conclusion (200) Financial engineering has crucial role in financial market today and it is increasing continuously. Due to globalization, financial market has been improving. Volatility of financial market also increases as well. This is the reason that financial engineering was established. Financial engineering has major role is that managing risk in financial market. There are many type of instruments that be applied into the market, such as futures contract and options. For example, future contracts can be used for hedge foreign exchange rate. There are also other types of instruments for dealing with financial problem. Consequently, in the next century, financial engineering might be interested more and more.

Vygotskys Sociocultural Theory Of Development - 831 Words

Socio-cultural developmental theory Vygotsky’s sociocultural theory of development is essential in d primary school and early childhood settings. Through an understanding of the socio-cultural theory, it facilitates pedagogical practices and teaching strategies for educators. The socio-cultural theory is underpinned by the influence of the environment and cultural contexts such as beliefs, values and skills in facilitating development (Mooney 2013, p. 77). Smidt (2009, p. 7) states that children’s understanding of the world and lives is shaped by social interactions from families, peers, educators and community (Nolan Raban-Bisby 2015, p. 31). Vygotsky theorised that interpersonal relationships and experiences contributed to higher†¦show more content†¦77). Using cultural tools is important as children use it in interaction with others and it helps in completion of tasks or achieving objects and acquiring higher mental functions (Bodrova Leong 2001, p. 11). Wetsch 2007 (cited in Henderson Edwa rds 2016, p. 77) states that over time to achieve objects of activity, cultural tools are modified and implemented by children to suit their purpose. However, one of them most important cultural tools is language, as during early childhood language growth is rapid and through dialogue with more knowledgeable others, children can complete tasks (Berk Meyers 2016, p. 322). Henderson and Edwards (2016, p. 77) also states the importance of the adult’s role in acquiring cultural tools as adults have already learnt and used these tools where they share their knowledge of the cultural tools through interactions with children. Within the socio-cultural theory, there is an emphasises on the influence of nurture and the world (Berk Meyers 2016, p. 9), as social interaction is the fundamental concept in child development. The socio-cultural theory does not refer to one course of development, but instead, children’s development processed gradually as there are many courses of development that varied from culture to culture (Berk Meyers 2016, p. 8). In contrast to developmental theorists such as Piaget and Steiner, Vygotsky believed that learning and development occurred in a continuousShow MoreRelatedVygotskys Theory of Sociocultural Development1076 Words   |  5 PagesVygotsky studied the Sociocultural Theory, which had three themes: the social sources of individual thinking, the roles of cultural tools in learning and development, and the zone of proximal development (Driscoll, 2005; Wertsch Tulviste, 1992 as cited in Woolfolk 2013). In other words, Vygotsky believed that the happenings of people occur in cultural settings and cannot be understood outside of these situations. This theory emphasizes the relationship between children and those who are more knowledgeableRead MoreLev Vygotsky And The Sociocultural Theory Of Development1016 Words   |  5 Pagesdeveloped and introduced the Sociocultural Theory of development that was heavily dependent on the influence of environmental factors—such as social groups, cult ure and institutions—on the cognitive development of children. Although Vygotsky constructed his theory during the late 1920s to early 1930s, it did not gain popularity till â€Å"the recent translation and republication of his work into English in 1962† (Burkholder and Pelà ¡ez 2000). The development of Vygotsky’s theory was also heavily influencedRead MoreEssay on Lev Vygotsky and Social Development Theory1038 Words   |  5 Pagescreated the Social Development Theory/ Sociocultural Theory. Vygotsky believed that childrens mental, language, and social development is supported and enhanced through social interaction. Vygotsky also believed that beginning at birth, children seek out adults for social interactions and that development occurs through these interactions. The belief that social development sets a precedent for development(appeals to the nurture side of development). The general idea from this theory is that being awareRead MoreThe Sociocultural Th eory Essay1710 Words   |  7 Pages The sociocultural theory was developed by a theorist named Lev Vygotsky. Vygotsky was born in 1896 and was from the former Soviet Union. He was a psychologist who had an abundance of ideas and put them into many theories and writings. Although Vygotsky died from tuberculosis at the young age of thirty-eight, his most prominent work was done in a short period of ten years. When he died in 1934, the Soviet Union held most of his work and it was not until about 1960 that his work was translated intoRead MoreThe Theory Of Cognitive Development1025 Words   |  5 PagesMany philosophers have developed theories of how individuals learn over the decades. As an individual progresses through life from childhood to adulthood, the manner in which they take in knowledge, and mature is the basic theory of cognitive development. Cognitive development can be described as how an individual’s thought process develops, and how these thought processes impa ct how an individual comprehends and interacts in the world. The psychology theorists of the past have shaped the classroomsRead MoreVygotsky s Theory Of Human Development1386 Words   |  6 PagesVygotsky was an educator and a theorist known primarily for his sociocultural theory. Vygotsky developed the sociocultural theory, which is the theory of human development through social and cultural influences (Aimin, 2013), during the 1920’s-30’s. One of Vygotsky’s focuses was the concept of the zone of proximal development (ZPD), which is the idea of a child being appropriately challenged, this will be discussed further on. His theory stemmed from how children’s learning is impacted greatly throughRead MoreSociocultural Learning Theory Essay701 Words   |  3 Pagesthe Sociocultural Learning Theory. His quote that â€Å"through others we become ourselves† could be the quintessence of the Sociocultural Learning Theory, which supports that learning is a social process†. This article consists of three main sections: a brief overview of sociocultural approaches; an examination of sociocultural method; and an overview of sociocultural contributions to research and applications to classroom learning and teaching. It explains the differences between sociocultural theoriesRead MoreSociocultural Theory And Second Language Learning902 Words   |  4 PagesSociocultural Theory and Second Language Learning â€Å"Language is the most pervasive and powerful cultural artefact that humans possess to mediate their connection to the world, to each other, and to themselves† [Lantolf Thorne 2006:201]. The idea of mediation inherent in this notion of the language is a fundamental element of Sociocultural Theory [SCT], one of the most influential approach to learning and mental development since 1990s’, drawing on its origin from the work of soviet psychologistRead MoreSociocultural Learning Affects the Development of Children Essay1491 Words   |  6 PagesSociocultural Learning Affects the Development of Children ECE 101 Professor Kara Bullock Chakera Simon October 12, 2010 Sociocultural Learning Affects the Development of Children Lev Vygotsky believed that children learn from their own experience. As a teacher I have grown to learn that Vygotsky’s findings are true in so many ways. Just from watching the children in my classroom I see that the Zone of Proximal Development and Scaffolding play a huge part in the development of a child. Read MoreVygotsky And Constructivism Theory729 Words   |  3 PagesConstructivism theory is basically used to define how learners gain knowledge from their past experience or from prior knowledge. For example, even in the childhood the child is not in the blank state they grasp knowledge by the expressions and images. Lev Vygotsky was a Russian psychologist who has given socio-cultural approach to cognitive development. He wrote two famous books â€Å"Thought and Language† and â€Å"The Development of Higher Psychological Process†. Vygotsky’s theory is based on social-cultural

Character of Three Mistakes of Mu Life Free Essays

Govind: Govind Patel is an ordinary guy with whom anybody can relate. He has very few desires but he is obsessed with the desires he covets. His main ambition is to become a businessman as he thinks that being a Gujarati, business is in his blood. We will write a custom essay sample on Character of Three Mistakes of Mu Life or any similar topic only for you Order Now His best friends are Omi and Ish (Ishan). Govind is an agnostic. His father has abandoned him and his mother, who runs a business of selling home-made food items. To support her financially, he takes mathematics tuitions. He continues these tuitions even after starting the cricket shop business. He is the narrator of this story and the one who makes the â€Å"Three Mistakes†. During the course of the story he falls in love with Vidya, Ishan’s younger sister for whom he is a private tutor. Govind is the one who looks after the financial part of the business as he has good business sense and mathematical skills. Ishaan: He is a big cricket freak and also a patriot at heart. Ishan has been the best cricketer in his locality and school. He suggests the name of their business as â€Å"Team India Cricket Shop†. He helps Govind’s business by organising daily cricket coaching camps. He has a family which makes life situation by keeping quiet. He has a younger sister, Vidya, about whom he is quite protective. When he discovers that a boy called Ali is a very talented batsman, he decides to go any length to give Ali proper training. Ishan usually looks after day-to-day shop activities as he has genuine interest in any cricket-related thing. Omi: He is the son of the Hindu priest of the local temple. His family enjoys great respect among the people. Through Omi’s parents and maternal uncle (who own few shops as a part of the temple trust property), they readily get a place to start their business. He is a rather dumb kind of boy and has not many dreams, but likes to concentrate on having a healthy body. However, he resents growing up and being a saint like his father. He is a religious person and actively takes part in his maternal uncle’s (Bittoo Mama) religious politics. He is however confused about his religious views which are mainly influenced by Bittoo Mama. Vidya: She is Ishan’s younger sister. She is a rebel at heart and dreams to break free from the constraints of a typical middle-class family and society, to go toMumbai, do a course in PR and become independent. She however despises maths which is required for her medical entrance exams. Hence, Ish asks Govind to take her mathematics tuition. However, in between their tuition they fall in love, have intimate sexual relations, which is unaccepted by anyone. Only Omi figures out the relationship Govind and Vidya share and also reminds Govind about the consequences of Ish getting to know about it. Ali: One of the students in Ish’s coaching classes and a great batsman because of a rare nature’s gift. However, he doesn’t play too much cricket as he gets tired really fast and enjoys playing marbles. He is a Muslim boy and respects Ish like a Guru. He too, like Ish is patriotic at heart. He denies the offer of Australian scholarship and wants to play in the Indian side. Bittoo Mama: He is the maternal uncle of Omi. Mama runs the trust of the temple and agrees to rent the place to the three friends for the Cricket Shop business. He is an active member of a Hindu political Party. He follows the preachings of Parekh-ji, a political-cum-spiritual leader and has complete faith in him. He has locked his horns with Ali’s father who belongs to the Secular Party. He has a son Dhiraj. Mama is not fond of Govind as he is an agnostic. He is the mainantagonist of the story. Govind’s mom: Gujarati woman. She wants her son to pursue a degree in Engineering. She runs a home-made food business. She cares about Govind a lot and supports him well through his hardships and struggles. Ali’s Father: He is a devout Muslim and works for a secular party. He is a very kind-hearted person who wants Ali to take his education seriously despite his mediocre financial condition. He treats the three friends very well when they go to visit Ali in his house. Overall he is a good person. Fred Li: He’s an Australian Cricket Team member and a fast bowler. He invites the three friends and Ali to Sydney when they travel to Goa to see India-AustraliaOne Day International and meet him in the stands. He spots talent in Ali and wants to help him getting a chance to be trained in his academy in Australia. Loosely based on Brett Lee How to cite Character of Three Mistakes of Mu Life, Papers

Into the blazing stillness of grief, the mourning angst echoes like an unruffled midnight roar Essay Example For Students

Into the blazing stillness of grief, the mourning angst echoes like an unruffled midnight roar Essay Into the blazing stillness of grief, the mourning angst echoes like an unruffled midnight roar that brings forth the dread in every living creature in that once quiet lay in Lebanon. The affected are perplexed with helplessness, hunger, disease, isolation and foreboding, you will hear a piercing ill-omened outcry à ¢Ã¢â€š ¬Ã¢â‚¬Å" a heartbreaking veil of a lifes canvass grounded by hostilities. Lives lost in gray, hope mislaid and the future is vanished- turning back the tide of time beyond the beginnings. Incredulity? let us not be unsighted by our faith. If our counsel recite that illustrious exodus of our bible from the heart of its pious wisdom; let all amen. But in times of treachery to perfidy a flimsy faith to trail a ruthless plot calculated to deceive an innocuous heart is a dismal and to those who are sentient consenting such leader perfecting in conspire? Let you be haunted by the souls you slaughtered. The obliteration is vast, its disturbing trauma will forever last until the end of age, its psychological horror will rut in the souls of those who witnessed the bloody times that ensnare the lives of the innocent. Like a perpetual vista; that furious fire that doom and the times of war will forever be evoked. And why did it happen?. Like any other manner of fight, supremacy is the typical raison dÃÆ' ªtre in dealing with all sorts of impact in order to victor a game. And such political drama; like an ensemble à ¢Ã¢â€š ¬Ã¢â‚¬Å" these religious brawny have had perfected the art of manipulating the poor using the obverse of religious kinds in order to sham and denote the might of control even if it causes a ruinous means of war. That, as it happens it has eroded a once carved footprints of hope, dreams and aspirations. And as we all find the ray of hope faded in the light; let not the sunrise fade to those who are among victims.

Global Warming A persuasive speech Essay Example

Global Warming A persuasive speech Paper Then there’s the economic costs of climate change – loss of tourism, loss of bobs, loss Of fish, farmers battling, food prices through the roof, astronomical costs from more frequent natural disasters, the list goes on. It almost sounds like a mad Max scenario, but the sad fact is, it’s far from fiction. I’m Matt Handmaids from the Australian Bureau of Meteorology and I believe that as the caretakers of this planet we must strive together to reduce our carbon emissions and†¦ Save the blackcurrants:We’ve all heard about Climate Change and you’ve now heard me list some of its disastrous effects, but what exactly causes it? And what can we do about it? Len a nutshell, lobar warming, known as climate change, is the heating up of our world. It is the result of huge amounts of CO being pumped into the atmosphere, via the burning fossil fuels such as coal and oil to produce power and electricity and thousands and thousands of products, from pla stic to makeup to the clothes that we wear. Ever since the industrial revolution in the early 19th century, man has been progressively burning more and more fossil fuels. In fact, in recent times the burning of fossil fuels has been releasing more than a shocking 3 billion metric tones of CO per year, which has been effectively increasing the lobar temperature of the world and disrupting vital climate systems. We are all global citizens. We all have access to information, facts, figures and statistics that undeniably prove climate change exists. We all depend on our earth – for clean air, for food and water, for resources, for our livelihoods. We are all consumers. We are all contributing to climate change. We are all responsible for our actions. We are all obligated to do something about it. If not to save our own skins, think about our children, and our children’s children. Do you want them to inherit a devastated world, knowing full well that we contributed to its destruction? Do we want to be the generation that could have done something real, but instead chose to continue down this selfish road of pollution, alarming consumption and total disregard for the world we live in. We will write a custom essay sample on Global Warming A persuasive speech specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Global Warming A persuasive speech specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Global Warming A persuasive speech specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Lets be the people that change the course of history. The three biggest contributors to climate change are man-made, but all three of them can, and will be solved with your efforts. PROBLEM 1: Massive carbon interferometer’s corporations like the oil- producing BP Billion, aluminum giant Alcoa, and of course the coal burning mega factories that supply our electricity rely on the burning fossil fuels, ND are contributing huge amounts of emissions each year. They are literally pumping tones of the toxic gases into the atmosphere that are slowly poisoning our planet. These powerful companies have a vested interest in keeping things the way they are, they don’t want to see change because their profit depends on it. Some oil-mining companies even try and deny the existence of global warming whatsoever, just so they don’t have to take responsibility for the huge part they play. Wonder what their grandchildren will think of them when they realize that they chose profit over keeping our world healthy. But hinges need to change, and with your help they can. As individuals we have the power to help solve every one of them. Every individual can play an important part. PROBLEM 2. Energy constitutionalism’s we are not the ones creating the energy, we are the ones consuming it. The amount of energy produced is merely the amount we demand. The average Australian household uses 8,900 kHz per year, which equates to roughly two and a half tones of carbon emissions per household a year. The amount of energy we are using is incredible and reducing it is a vital step towards stopping the onslaught of climate change. PROBLEM 3. Transportations 8% of the world’s carbon emissions is directly created by you and me. How many of you own more than two cars? How many bayou live on a bus route, but have never caught it before? How many of you drive to the shops if it’s only a five-minute walk away? The car has become such an integral part of society that we’ve not realized the harm it is creating. There are many alternative options of transport that can significantly reduce carbon emissions and it is up to us, humanity to reduce it. But if we do not use these alternatives, we can only expect the worst for the futurologist 1 : For lilting the massive carbon emissions is our responsibility to put pressure on the government to enforce legislation to limit the amount of CO emissions produced by industries that produce raw goods, electricity and consumer products. And to commit to formal reduced emissions targets like Kyoto protocol. Let leaders know that polar bears living in the dwindling ice sheets of the arctic aren’t the only ones skating on thin ice. People power, such as petitions to local member of parliaments can elevate the topic to become an important election issue, which will create awareness n the community and put pressure on leaders to act Also, by not investing in, or purchasing products made by irresponsible corporations that recklessly pollute you CAN make a difference. We can also make a difference by encouraging the research into alternative, renewable and ecologically sustainable fuel sources. You can do this by investing in green energy companies, which not only means that you’ll be helping the environment, but making financial gains from what’s expected to be a 50 billion dollar market by 2008. How to reduce energy consumption at home. If we are to make a serious attempt at reversing the severe harm caused by limited change we must not only change the way energy is produced, but also severely reduce the amount of energy we consume. I’m not trying to say that we need to make huge sacrifices for the cause of lowering emissions, for I believe that when every single small reduction in energy consumption is put to process on a global scale, the decrease in carbon emissions is dramatic. For instance, if 1 million households replaced four traditional light bulbs with the much more energy efficient fluorescent variety, we could eliminate approximately 500,000 tones of carbon emissions per year. If we work gather, results like these can be achieved, but we must be unified in our fight to save this planet. Or how about when you’re not using your computer? If 1 million people turned off their PC’s every night, we could eliminate more than 50,000 tones of carbon emissions per year. Also, the increasing market in solar energy means that solar panels for either hot water heating or electricity generation are dropping in price, and purchasing these can significantly lower our dependence on energy grids, thus lowering your carbon output. How to travel, cleanly method of significantly reducing transport emissions is carpooling. The average commuter creates 3. tones Of CO per year and sharing your car with one other person will effectively halve this figure and create another step towards creating a stable climate. But it is up to you to take these actions. Using public transport instead of driving will also significantly reduce emissions and it is your duty as an inhabitant of this planet to do so. The most effective and efficient method of cutting down carbon emissions involves two wheels, and no carbon emissions. I’m talking about the bike, and if 1 million people replaced an eight-kilometer car trip with cycling we could educe carbon emissions by an incredible 1 00,000 tones per year. If driving a car is unavoidable however, buying cars with high fuel efficiency, cars that run on clean diesel as well as petrol electric hybrids will still significantly reduce carbon emissions. Also, you may be wondering, what about flying overseas – there’s no alternative mode of transport for that! Well, by purchasing slightly more expensive tickets from environmentally aware carriers they will offset your emissions by either investing in green energy or using carbon credit trading. These are perfect examples of how individual actions can make huge preferences when we work together.

DevilinaBlueDress vs. Chinatow essays

DevilinaBlueDress vs. Chinatow essays Contrasting Easy Rawlins and Jake Gittes is hard, but paralleling them is not difficult at all. Both are often shot at, both have an enemy that has a predilection toward the obscene: one is incestuous, the other a pederast. Both deal with L.A. history and both deal with the L.A.P.D. In a different era, theyd probably be stepping on each others toes. Although, it is entirely possible that one of Gittes cronies took the lewd pictures of the Mayoral candidate in Devil in a Blue Dress. Both men are pawns in the hands of the rich and powerful. Both men have a tragic love interest; both mens tragic love interests are tied to the most powerful men in the city. Both men have morals that can be weakened with the correct amount of cash, and both men walk right past important clues that are revealed again later in the film. Gittes, for example, sees something shining in the koi pond at the Mulwray estate when he first visits it after the revelation of the real Evelyn. He was about to fish it out, but is interrupted by Ms. Mulwray. When he visited the Dept. of Water and Power, he went into Mr. Mulwrays office looking for clues, but a bigger one was on the wall of the office that he was ushered into next: the large symbol for the albacore club on the wall of the Assistant directors office. Easy had the same problem, but he seemed to add things up a bit faster, the bouncers Mexican cigarettes for example. The difference here may simply be the style of the filmmakers involved. Another similarity would be their individual motivations. Jake was motivated somewhat by money, but seemingly more so by his curiosity. Easy was in it for the cash on the outset with Albright's hefty sum, but after it seemed that Albright would turn out to be an enemy anyway, he was in it for his own reasons. Reasons of curiosity, revenge, and need for closure. ...

Education Essay Example | Topics and Well Written Essays - 1000 words - 24

Education - Essay Example The system will empower student’s partnership with education stakeholders thereby creating a more attractive and friendly learning environment. The significance of education in the national development is a key issue that requires efforts from all zones to ensure achievement of the best results. The pace of national developments in Saudi Arabia requires policy makers and other stakeholders to be more vigilant on issues that may hinder educational goal achievement. It is the reason that parents and the ministry of education felt needed address and the best way is through making education system friendlier to students (Doumato and Marsha 57). A positive move will have a great impact on the education system bearing in mind that students are more sensitive on issues of freedom, process and the education environment. Students are subject to many challenges in the course of learning. These challenges may be a limiting factor in achievement of their goals but with a friendlier school and learning environment, these challenges may be minimal. Most students even drop out of school citing inability to cope with school life a reason that has made the ministry support a friendlier school environment to ensure students appreciate and feel catered in the learning process (Sedgwick 23). The efforts to make school life friendlier have significant benefits but at the same time has many negative effects on student’s education and their adequateness to adapt to the general life. Technology is important and is a key factor in making learning environment more appealing but has negative effects attached to it. The encouragement of student-teacher relationship has many benefits and lays several negative effects too. The use of buses by students to and from school may also have negative effects on student’s life. The negative impacts range from moral corrosion, change of lifestyles, health

Analysis of the operations management activities of zara Essay

Analysis of the operations management activities of zara - Essay Example The organisation that has managed to pull this off is Zara, the Spanish fashion retail chain. Not only has Zara continued to record rising profits in a stagnant market, but is increasing the pace of store openings to almost one per day in the current year. Currently there are 758 Zara stores throughout the world in 58 countries, but by 2009, there are planned to be 4000. (Kane 2005). The company is not just a European phenomenon, but a global force and in many ways could be considered a leader in the retailing revolution that is sweeping the fashion world. Zara is a company within the Inditex holding group also founded by the creator of Zara. Before looking in depth at the successful business model that Zara operates and how it was developed it is worth looking at the overall fashion scene in order to gauge the field and to further show how different Zara is and how it became and remains so successful. Without doubt, there is a fashion revolution underway in the High Street. This revolution underscores a fashion retailing war that can only be described as cut throat and it reflects a huge change in the underlying cause of fashion expectations amongst the shoppers - the huge reduction in cost of high fashion items which has been pioneered by such fashion retailers as H&M of Sweden, Top Shop of the UK and especially Zara of pain. The war has had many casualties which have been mortally wounded amongst them C&A and M&S which catered for the wrong people at the wrong time and ended up with millions in unwanted unsaleable stock. Other companies struggled through the bad patches and are fighting back to remain in the high street realising belatedly that shoppers all over Europe and indeed the rest of the world want to dress like the rich and wealthy and the stars of stage and screen. Fashion retailers are rushing to satisfy this demand and shops like Top Shop, gap, Zara and others are b attling it out to get ahead and stay on top in this cutthroat and swiftly changing business. The market in Britain alone is worth 27 billion pounds and decisions made by company and group managements right down to store managers together with their chosen business models make the companies sink or swim. A BBC report on the subject (BBC News 2003), noted that shoppers had become obsessed with the way that celebrities dressed because those clothes have become so much more accessible in both price and availability. Stores are becoming that much better at including items that celebrities wear and reproducing them very quickly. The same report quotes Top shop director Jane Shepherdson as saying that customers want to be able to buy into the trends that they've seen from the catwalk as soon as possible. Top shop wasn't always able to accommodate this because of its inflexible business plan that operated separate summer and winter collections which often had lead times built into the system of up to 18 months. By observing another rival on the high street scene, Gap, it can be seen that by relying on previous problems were due to a mistaken strategy of targeting the teenage market with its Old Navy stores. The Swedish firm H&M was one of the leaders in changing that by appointing young designers to make high fashion as swiftly and as cheaply as possible, but initially the quality

SCIE210 Unit 2IP Research Paper Example | Topics and Well Written Essays - 500 words

SCIE210 Unit 2IP - Research Paper Example Fact number two suggest that women may opt to delay having children, and the last fact is that they may even opt not to have children at all. All those facts will lead to low birth rates and low death rates because there will be an improvement in health care and nutrition (Kenkel, 2001). Economically, there will be an increment of old people depending on pension schemes for survival. In another definition, demographic transition refers to changes in high birth rates to low birth rates and change in high death rates to low death rates (Kenkel, 2001). In this stage, a society will experience high birth and death rates. Since the two rates are high, there will be a very slow growth in population. The population will belong to the young generation because many people born do not live long (Chesnais, 1992). In this stage, children are economically valued in the families because they reinforce high birth rates. The main economic activity that they contribute to is carrying water and firewood, caring for young ones below them, cooking, and working in fields. There are very few education opportunities hence; the cost of raising children is higher than the cost of feeding them (Chesnais, 1992). In this stage, a country enters an industrialization period, which facilitates a drop in the death rates rapidly. There are two factors attributed for the drop in death rates. The first factor is improved food production and improved health facilities and sanitation. The country turns into more efficient food production methods and better transportation and food distribution methods (Galor & Moay, 2002). At this stage, death due to starvation is eradicated and the population will be growing. Population growth is witnessed due to reduced death rates and stabilized birth rates. It is important to note that population does not grow due to increased fertility but due to reduction in death rates. Therefore, birth rate maintains its pace while more people continue to live

Effects Of Celebrity Endorsements Cultural Studies Essay

Effects Of Celebrity Endorsements Cultural Studies Essay Well known for having a successful modelling career, Kate Moss has appeared in many endorsed advertising campaigns, such as, Chanel, Louis Vuitton and Versace, to name only a few. Moss endorsement career has had its ups and downs. In 2005, a drug scandal hit the headlines, with pictures of Moss snorting cocaine. This story put many of her endorsements at risk. When the news story was announced she lost major contracts with Roberto Cavalli, Chanel, Burberry HM. However, Rimmel took advantage of the publicity that she was receiving in the media and decided to incorporate the image in their television advertising. The advert showed her partying all night, then applying their new recovery foundation before arriving to work looking fresh and pretty. According to Bussey sales rocketed (Bussey, 2005) after release of the advert. Coty Beauty, who runs the Rimmel brand, decided to keep Moss because she had made a public apology. They will stand by the model after she apologised and promised to overcome her problems (Sky News, 2005) There is no real evidence to show whether keeping Moss made an impact on the sales of Rimmel products. When the author contacted Coty Beauty and JWT, they were not willing to give any information regarding Rimmels sales from the years 2006/2007. Below is a comment made by Peter Knowland, Director of the Rimmel account at JWT. They (Rimmel- Coty Beauty) have no desire to look backwards. They are very excited about the family of Rimmel faces they have today Coco Rocha, Georgia May Jagger, Sophie Ellis Bextor and Kate Moss. They all have a different but important part to play in the promotion of the Rimmel London brand. Glyn Thompson, who works in consumer affairs for Coty Beauty, stated: Unfortunately, we are unable to be of assistance on this occasion as we are a private company and we do not release annual sales report Twelve months after the scandal hit the headlines, Moss had won back many endorsement contracts Roberto Cavalli (again), Stella McCartney, Virgin Mobile (who used the scandal in their campaign), Burberry (again) and Louis Vuitton to name a few (Bussey, 2006) According to Bussey, Autumn/Winter 2006 season was one of Kate Moss most successful- and profitable (Bussey, 2006) This case study defines the quote any publicity is good publicity. Although Moss was receiving bad publicity when the scandal was released, it worked to her advantage as well as Rimmels for sticking by her. David Golding, Planning Director at Rainey Kelly Campbell Roalfe/YR says: You have to think to what extent has her image been tarnished by these stories. The bigger story was how many companies dropped her and then took her back. To me this is proof that she is a great brand icon. (Bussey, 2006) 4.1.3 TIGER WOODS TIGER WOODS SCANDAL COULD COST MEDIA AND SPONSORS $220 MILLION (campaignlive, 2009) Prior to news of the scandal being released in Novemeber 2009, Woods had estimated annual earnings of $100 million in endorsements. Tiger Woods is a good example of how over using a celebrity could jeopardise brands when a scandal breaks. Many advertisers used Woods for his clean-living public image. When the scandal broke about the alleged string of affairs, it was reported that many of Woodss endorsement products would drop him from their advertising. What became evident was that many of his big sponsors did not drop him, instead they suspended any adverts that he appeared in from their campaigns. Procter and Gambles Gillette and Swiss watchmaker Tag Heuer, have maintained their relationships but are not featuring him in current advertising (SkyNews, 2010). Gillette was the first major sponsorship to distance themselves from the golfer over his private life, the company stated this in a press release following the scandal, In the midst of a difficult and unfortunate situation, we respect the action Tiger is taking to restore the trust of his family, friends and fans. We fully support him stepping back from his professional career and taking the time he needs to do what matters most. We wish him and his family the best. As Tiger takes a break from the public eye, we will support his desire for privacy by limiting his role in our marketing programs. (Norton, 2009) However, Accenture and ATT dropped Woods as soon as the scandal broke, stating that he is no longer seen as the ideal, clean-cut promotional vehicle (Timesonline, 2010). However, Woods also announced his Indefinite Leave from golf, shareholders of companies that Mr. Woods endorses lost $5-12 billion in wealth (Knittel Stango, 2010:1). Woods decision to leave golf for a while to focus on his personal life also left his endorsements at jeopardy. Since the story broke, there have been certain companies that have made a big loss. Investors in three sports-related companies Tiger Woods PGA Tour Golf, Gatorade and Nike fared the worst, experiencing a 4.3 percent loss, or about $6 billion. (Talmazan, 2009). This evidence shows that many of his sporting endorsements have suffered the worst. Whether this is because his images in the advertisements are of him as a sportsman- which is what he is famous for, whereas other advertisements are using him because of his nice guy image. Unlike the previous case study, this story is recent, so its difficult to analyse whether these effects will be long term or similarly to the Kate Moss story, the effect on his endorsements may only be short term. A recent poll was created by Sport Business to see what the public believe will happen to Woodss endorsements. The results show that 56% of respondents believe the effects of the scandal will only be short term, 27% believe that there will be no effects at all, whilst 17% believe that the effects will be long term. If these results are correct, then the effects of the scandal will only be short term and, like Moss, Woods may recover some of his lost endorsements. 4.1.4 JAMIE OLIVER- Sainsburys Jamie Oliver is best known as the naked chef, this was the name of a programme that Jamie appeared in, where he went out shopping for ingredients to cook a dinner for friends, the programmes approach was through an informality, friendliness and an easy- going, relaxed format (Byrne, 2003:1). He was announced as the new face of Sainsburys in 2000; it was the first time a celebrity chef has fronted a major supermarket advertising campaign. (PRNewswire, 2000) The credibility of the star was one of the reasons that Oliver was a perfect celebrity for the brand, Abbot Mead Vickers the advertising agency in charge of the campaign, felt that: We wanted to create a brand strategy and develop vision for the brand. Essentially we wanted to re-emphasise the brands focus on quality and position the brand as a leader in the field in terms of quality. Therefore using Jamie Oliver who is renowned for quality would help us reposition on quality and that is what the adverts are conveying to the customer. In essence what we are doing is borrowing his values and transposing them to the brand (Byrne, 2003:6/7) The decision to do this links with the theory that McCracken suggests, the endorsement has to be right, the celebrity has to link with the product, and in order for it to be a success the product needs to attract the consumer. What this evidence does show is that Oliver has a good image through which to portray the brand and what they have to offer, because of his image within the public eye, his success as a chef and the quality of food that he uses. This will allow the public to believe that the products he uses are good, which will be reflected in their purchasing decisions. One concern that the agency had, was they felt that Jamie would not appeal to the 45 plus age group (Byrne, 2003:7) However, due to his informal style, his boy next door and every day image, it has allowed many consumers to relate to him. Since introducing Oliver as the face of Sainsburys, the advertising and sales has gone from strength to strength, According to new research, the  £41m spent by Sainsburys on campaigns using Jamie Oliver generated an extra  £1.12bn of turnover overall turnover was  £17bn. Oliver was single-handedly responsible for  £200m of Sainsburys  £535m profits in the past two years. (Evening Standard, 2002) Kate Nicholson, Head of Sainsburys advertising, made this comment Jamie has far exceeded our expectations. It does sound like an awful lot of money but we know he really has generated these extra sales because we have researched it very carefully Jamie has been a crucial part of our turnaround, I dont think anyone else could have done it (Evening Standard, 2002) Jamie Oliver is a good example of how a celebrity endorsement can work, providing you have the correct celebrity and brand match. 4.1.5 GARY LINEKER- Walkers Before the launch of Lineker as the face of advertising for Walkers, it appeared that the product wasnt at the top of the sales ladder in its market field. The endorsement of the star has been one of the most successful moves Walkers could have made. This type of celebrity endorsed advertising has sought to preserve the emotional bond between product and consumer, as a consumer we believe that the product must be good if celebrities are advertising for them. Figure 4 shows the transformation of Walkers sales since introducing Lineker to the brand. 1996 saw a significant rise in sales after Lineker appeared in the adverts. What is evident is the continuous rise in sales since Lineker joined. At the end of 2004 it was apparent that Walkers had over half of the market share of crisp sales. A spokesman for Walkers mentioned that after two years with Lineker as the face of Walkers Crisps it has helped to sell enough crisps to cover the whole of Holland (Greedystar, 2003) Figure 5 shows the sales that Walkers had in 2002/03. They had a great success, earning more than  £30m worth of sales, Persil were second. What is also obvious is that there are no other crisp brands on the table, clearly outlining the fact that Walkers holds most of the market share for crisp brands in the UK. Since the introduction of Lineker, who has appeared in over 100 adverts, many other celebrities have joined him in advertisements as well, such as The Spice Girls, Charlotte Church, Paul Gascoigne and Girls Aloud. Walkers created a famous campaign that saw Linekers favourite flavour rebranded to Salt n Lineker. This was an advertising ploy that would help the sales increase for a certain flavour. This was a good way to create brand awareness as well as to incorporate the character of the celebrity in the products advertisement. Since the introduction of the campaign, sales had risen from 14.5% to 17.8%. Average sales in grocery stores over the first 12 months of the campaign were 23% up on the previous year (Marketing, 2005) Whats interesting to see with this campaign is that, unlike Jamie Oliver, who has a link with Sainsburys, Lineker has no real link with Walkers Crisps, What they successfully did was to incorporate Lineker within the product, so their advertising had the tag line of No More Mr Nice Guy. Whats also interesting, as Martin mentions, is that young people are a target for snacks.. Which makes football a sensible choice- Regardless of Mr. Linekers nice guy image (Martin,1996:43) 4.1.6 SUMMARY McCracken (1989) believes that providing meanings is a good way to portray a good image with the use of celebrities in advertising campaigns. In relation to this theory it would appear that most of the case studies above have shown evidence of this, Jamie Oliver is an obvious candidate for Sainsburys as he is a chef, therefore the meanings that were portrayed in the advertising proved to be successful and relate to what McCracken believes. The evidence above shows that a celebritys popularity within the media affects the sales of a product, whether in a good or a bad way, Rimmels decision to continue using Moss was a good example of how media attention can be an advantage. The attractiveness and similarity that they portray within the advert by using Moss was apparent to the audience. As Kamins suggests (outlined in the literature review), a celebrity fronting a campaign can lead to the consumer being attracted to the product. QUESTIONNAIRE RESULTS 4.2.1 INTRODUCTION The following charts will outline the results of the questionnaires that were conducted to find the consumers opinions of celebrity endorsement advertising. Overall 70 respondents completed the questionnaires, half Female and half Male. In order to gain a fair set of results it was important for the respondents to be a variety of different ages. The results were inputted onto a database giving opportunities for different reports to be created. These results will form an argument that will seek to discern whether the consumers response to celebrity endorsement advertising is the same as that of the practitioners. The results from the questionnaire are a sample as this is a small research project, whilst it is indicative; it is not big enough to show a definite answer. 4.2.2 THE INFLUENCE OF ADVERTISING It is important to find out whether consumers are influenced by advertising, this will show evidence of how much of the population are influenced by advertisements, which will then allow us to see what population that are influenced by advertising are also influenced by celebrity endorsed advertising. Figures 6 shows evidence that a majority of respondents purchasing decisions are influenced by advertising. However, Figure 7 shows that not as many people are influenced by celebrity endorsed advertising. This chart is interesting as it shows a slight contradiction; not many respondents have brought a product because a celebrity is in the advertisement. However, a majority of them believe that using celebrities in advertising is successful. It would appear that many of the respondents believe that a celebrity brings awareness to a product, but the consumer doesnt necessarily buy a product because a celebrity uses it. One respondent wrote this statement about how they are not influenced by celebrity endorsed advertising. I think that most adverts have celebrities in them but I wouldnt buy a product just because I like the celebrity, probably more to do with the product However, this respondent, when answering yes to the question, do you think that using celebrities in advertising is successful, stated this; Because you feel a sense of admiration for some of them, and if they are using certain beauty products that make them look so good, then people will want to use them too. In relation to Erdogans theory in the literature review, a disadvantage of using celebrity endorsements is if they over-shadow the brand, however and advantage of using celebritys is increased recognition of the product. These are results from the questions that were asked to the respondents to find out whether they knew what the celebritys names were. It was interesting to see that only one respondent incorrectly answered Tiger Woods name. Kate Moss was the next recognisable celebrity with only 6 people who answered incorrectly. John Terry and Kerry Katona each had 8 people incorrectly answer their names. However, it was interesting to see that 4 people didnt know John Terrys name, but recognised him as a football player. 4.2.3 WHAT RESPONDENTS REMEMBER MOST ABOUT ENDORSED ADVERTISING The next set of charts will show whether the respondents know certain celebritys and what they remember about them. This is important to discover whether they remember positive or negative attributes about the celebritys in order to gain a varied set of results; there were no multiple choice options available. These charts will analyse what consumers think of the adverts that are celebrity endorsed, giving a chance to see whether they remember more about the celebrity or the product that was being advertised. 4.2.3.1 KATE MOSS Overall, most respondents remember Kate Moss for her profession (Modelling). However, it is interesting to see that 21 respondents also mentioned that they remember her for taking drugs. Rimmel, a product that she endorses, was the third most popular thing remembered about her. When asked if the respondents knew of any adverts that Kate Moss had starred in, 51 of them said Rimmel Figure 11 shows what they remember most about the advertising campaigns. Please note, these results are not just for Rimmel. A majority of the respondents remember the tagline of the product, Get the London Look. Whats more interesting to see is that the respondents remember Kate for being in an advert, but cannot remember the name of the product being advertised. 4.2.3.2 JOHN TERRY Figure 12 shows what the respondents thought John Terry was most famous for. It would appear that due to his recent media attention after an alleged affair, many of the respondents recognised him for sleeping around. There were 3 respondents who didnt recognise him at all. A majority of respondents did not know of any adverts that John Terry had starred in. Samsung was the most popular brand that was listed. The next page outlines what they remembered most from the adverts he appeared in. Not all respondents wrote an answer for this question as they could not remember the advert. Figure 13 clearly outlines that many respondents remember the advert because it was football related, whats interesting to see is that they also remember it more because other celebritys also appeared in it. 4.2.3.3 KERRY KATONA These results show that most of the respondents remember Kerry Katona for her singing career; the second most popular thing that people remember about her is her reported drug taking. Unlike previous celebritys, respondents had more to say about Katona, whether this is due to negative media attention in the past or the fact that she is famous for more than one thing. Figure 15 shows that the main reason people remember the advert is because of how annoying it was. Whether this was because they thought Katona was annoying, or that the advert itself was. Whats also interesting is that many respondents also remember her starring alongside other celebritys in the advert. 4.2.3.4 TIGER WOODS All respondents knew what Tiger Woods is famous for. What was interesting is that, similar to John Terry, over half of the respondents had put down that he is also famous for sleeping around. Figure 17 shows what respondents remember most about the adverts that Woods starred in. The most remembered attribute was the tagline of the product that he endorses The best a man can get. This suggests that unlike Terry, they remember more about the product then the celebrity promoting it. 4.2.4 PURCHASING DECISIONS In terms of whether consumers are influenced by celebrity endorsement advertising, relationships between celebrity and product is important, A respondent wrote this statement when the question: What relationship do you think using a celebritys name to sell a product has on sales? Was asked. I think it probably has a positive effect on sales as consumers build relationships with celebrities, see them as role models and idolise them. If a celebrity such as Cheryl Cole promotes a product which she uses herself, as she is known for being a style icon to many, then this will encourage consumers to buy it in the hope of looking like her. (Age bracket14-25) However, a respondent who is in a different age category has a similar opinion; Possibly the younger generation may be more inclined to buy products endorsed by a celebrity because they tend to look up to models or sports stars etc. I dont really take much notice of who is wearing/using what. (Age bracket 36-50) 4.2.5 SUMMARY The questionnaire results are interesting, as many consumers are aware that companies are using celebritys for advertising, many of the respondents have never purchased a product because of a celebrity being in the advertising, yet they still believe that celebritys are successful within advertising. What they did notice was that many companies are using celebrities as brand recognition, a way of appealing to the public. This research has shown that many consumers remember negative attributes about celebritys, rather than remembering what positive things they have achieved, which indicates that consumers are more inclined to be effected by negative characteristics of a celebrity as opposed to the positive things. This research has also proven that younger consumers are influenced more by celebrity culture; they are more inclined to know what outfit Cheryl Cole has been seen in and how to do their hair like hers. This is why more companies are using these types of celebritys within th eir advertising campaigns, to attract the niche market of consumers who are susceptible to that type of advertising. EXPERT OPINION This section of the data analysis will look at the experts opinions. Three interviews were conducted, as well as a recording of a debate on celebrity culture that the author attended. The respondents were interviewed about two different strategies of using celebrities as well as the advantages and disadvantages of using celebrities. These results will build up an argument to see whether the practitioners have similar views of celebrity endorsements as that of the consumers. 4.3.1 INTRODUCTION Using a celebrity in an advertising campaign can be quite a risquà © decision. It would appear that many advertisers get it wrong in the selection process. Ogilvy has written that Celebrities get high recall scores, but I have stopped using them because readers remember the celebrity and forget the product they assume that the celebrity has been bought, which is usually the case (Ogilvy, 1983: pg, 83). 4.3.2 WHY ARE CELEBRITYS USED IN ADVERTISING? Many consumers are aware that the celebrity does not really use the product they advertise, instead they have been bought as the face of the campaign. If this is true, why do advertisers continue to use celebrities in their campaigns? Alan Jarvie, Director of London Advertising, believes that using a celebrity: Gives you some recognition, it gives you some memorability, as long as the personality doesnt overshadow the product. Sometimes you get campaigns where the only thing that you remember is the celebrity, and you cant remember what the product is, we always make sure that the celebrity plays second fiddle to the product that were advertising. (Alan Jarvie, London Advetising- Appendix 5) Jarvie believes that provided that the celebrity does not overshadow the product, then a campaign can be successful since the personality can be an attraction for the product. From previous research, if a celebrity is receiving bad publicity in the media, then the product and brand does suffer. However, Jarvie believes that many products can use the celebrity to their advantage. For example, many marketers have ended their contracts with footballer John Terry due to his recent negative media attention. However, Jarvie believes that some marketers could use this as an advantage in their marketing ploy; I think it all depends on what the product is, I think if your product is all about being, you know good and clean and righteous then obviously that would be a problem, but if youre product is just about being a normal bloke or somebody that makes mistakes, or somebody whos every man, then I dont think that it should hurt them at all. (Alan Jarvie, Giraffe Advertising- Appendix 6) Jim Shannon, Creative Director for Giraffe Advertising, believes that a brand would suffer if a celebrity were to receive negative media attention, If the individual behaves in a way that detracts from the brand (even outside promotional activities), the brand suffers  (Jim Shannon- Appendix 6) However, Jim Shannon does go on to say that marketers could use the media publicity as an advantage Only in a knowing way (i.e., in the promotion of products that might tacitly endorse his/her behaviour). Noreen Jenney, Director of Celebrity Endorsements, believes that marketers should be careful about who they select for their advertising campaigns. Advertisers need to be very careful to do their due diligence when hiring a celebrity.   When a star gets bad publicity, it reflects on the advertisers product and company.  (Noreen Jenney, Appendix 7) Trevor Beattie had an interesting point when he mentioned in a celebrity debate that Gillettes advertising has not influenced his purchasing decisions; I think Gillette has produced probably the worst advertising a man can get and the worst advertising on television, and I use Gillette products at least twice a day. Im not put off by their totally shit advertising and I find that a bit strange. As much as I want to be put off by their advertising, Im not, so I blank it out. Their distribution is brilliant and their product is extremely good. Their advertising sucks. So there is a strange triangle going on, and for all their money and all the worthiness, they then go and hire the three people who they feel are the worthiest celebrities in the world, people who are stars actually, who are very good at their chosen sport. (Trevor Beattie, Appendix 8) Beattie also mentioned how using endorsements can be successful; I think you can get it wrong, if you get it right, like they did with Gary Lineker and, for all his failings, he is a brilliant spokesperson for the brand and he took Walkers from nothing to a major brand and hes earned his money, I think, and hes done a brilliant job. Jamie Oliver, dont like the bloke, think hes a git, but, hes done a brilliant job for Sainsburys, really has, so therefore theyve got it right, it is a gamble. (Trevor Beattie Appendix 8) 4.3.3 HOW DO EXPERTS SELECT CELEBRITYS USING THEORIES? Is it a gamble, or do advertisers believe there is strategy to creating a perfect match between celebrity and product? Bergstrom Skafstad (2004) in their case study of Celebrity Endorsement asked the experts what type of theories they would employ when selecting a celebrity in advertising. I have employed this same technique within this case study to see whether the results from different experts are they same, or whether they have their own opnions on what they believe is a good way of selecting celebrities for endorsement advertising. What will be taken into consideration is the difference between different celebrities for different campaigns. The research approach will be analysed against Shimps TEARS model from the literature review, the Experts were asked what order they believe is the right way of choosing a celebrity for an advert. All practitioners stated that they could not give an accurate decision as it depends on which product they are advertising. The charts below outline what they believe is correct for a general advertising campaign. Its interesting to see that Trustworthiness ranked the highest in making a decision when selecting a celebrity in adverts. Both Shannon and Jenney believed that Expertise was the second aspect that is important when selecting a personality. Jarvie, however, ranked that last in his selection. What is interesting to see is that although McCracken believes in his theory that there needs to be a meaning behind the endorsement, some sort of connection between celebrity and brand, this evidence has show that most of the experts believe that Similarity is not as important in the selection process as the Trustworthiness of the celebrity. 4.3.4 SUMMARY The result from the expert research shows that using a celebrity in advertising is successful providing it works and the celebrity doesnt over shadow the product. Trustworthiness plays an important part in the selection of the celebrity which was interesting, Similarity between the brand and product was not a necessity when approaching a celebrity for the advertising. It is interesting to see that marketers do not really have a specific way of choosing celebrity endorsements; they do not run by any theory, its more about whether the celebrity is right for the brand and vice versa.

Creating an Interactive Web Site with CGI Essay -- HTML Web Page Creat

Creating an Interactive Web Site with CGI Introduction The Internet explosion of the 1990’s has been one of the most revolutionizing business factors of the decade. The Internet allows individuals and businesses to reach each other more effectively at an increasingly lower cost. However, the most effective method of interaction is two-way interaction. This applies whether the interaction is between two people, a person and a business or two businesses. Basic HTML web pages allow for easy one way interaction. It also allows people to send e-mail back and forth. More effective web pages allow for immediate two-way interaction. These pages can gather survey data, create shopping carts, check credit ratings or even simply have visitors sign a guest book. Interactive web sites definitely have advantages over their less advanced cousins. Common Gateway Interface (CGI) provides one of the more common formats for designing an interactive site. This paper will address some of the concepts behind creating an interactive web site with CGI. It will proceed by considering the following points: 1. Background 2. Creating forms Background Before explaining how CGI works, it is helpful to gain an overall perspective of how the internet itself functions in connection with the end user. Bruce Gronich of BigNoseBird.com provides a good analogy that will be used throughout this paper. He compares the end user’s browser to a rat searching for food. The garbage can doles out the food when the rat requests it. The garbage can is the server. So, the browser requests information from the server, and the server in return doles out the information that is requested. The server uses differe... ...lt;INPUT TYPE="reset" value=" Clear-Form"> <INPUT TYPE="HIDDEN" NAME="FORM_NAME" VALUE="THE TEST FORM"> <INPUT TYPE="HIDDEN" NAME="MAIL_TO" VALUE="person@to-get.mail.com"> </PRE> </FORM> Conclusion This paper has been primarily about some of the HTML codes required to put together an interactive web site. It has reviewed how the internet works and how to assemble a form on a browser. The paper has also addressed how the information needs to be formatted so that it can be successfully passed to a cgi script for further processing. Acknowledgements The primary source used in this paper was the web site www.bignosebird.com The web site www.icthus.net/CGI-city/ was also helpful. Finally, the textbook Frontiers of Electronic Commerce provided some information as well.

Little Prince by Antoine De Saint-Exupery Essay

The Little Prince or Le Petit Prince was inspired by the author Antoine de Saint Exupery’s real life experience and just added fictionalized images to make it real and understandable. It became the marvelous book written for children. Sold over 140,000,000 copies worldwide into more than 250 languages and has been one of the best-selling books published ever. According to Paris-based Saint-Exupery Foundation, â€Å"The Little Prince† is the most translated book in history after The Bible. It also known as â€Å"children’s fable for adult† as it conveys profound and idealistic views in human nature and its settings. Until now, The Little Prince is still the most advisable book not only for the children but also to the adults to read. Antoine de Saint Exupery was a French aviator and writer who became more popular with this novella, which was written in year 1943. After failing in a university preparatory school and was not able to pursue his real dream to become a naval officer. He entered into a different field which is architecture but still resulted in failures and he did not even graduated. In 1921, he started his military service and was sent to Strasbourg for training as a pilot. In 1926 he became one of the pioneers of international postal flight. Until an accident happened in 1935 wherein a sudden machine failure strike and crashed it in the Libyah Sahara desert. In four days of experiencing dehydration, there was a Bedouin on a camel discovered them and saved their lives. The book begins with the narrator, which is the Pilot reminiscing the days when he was a six year old boy. He was trying to draw a boa constrictor and shows it to the grown-ups, but they always advise that he should stop dreaming to become an artist instead he should focus in geography, grammar, arithmetic and history. So he gave up his dream to become an artist and choose another profession which is to pilot airplanes. And whenever he met someone, he always showed his drawings of boa constrictor and asked them if they know it. But he always gets an answer of â€Å"That’s a hat†. Then he would never talk to that person about boa constrictor again. Until a plane crash accident happened in Sahara Desert and he met the little prince that asking him to draw a sheep. After three attempts and failed to draw a sheep, he decided to draw a box instead and explained that the sheep were inside of it. That was the start of their friendship. The narrator soon found out that the little prince came from what he called his planet which is Asteroid B-612. Where there can be found a baobabs, a two active volcanoes and a flower. As each day passed, the narrator soon learned to know the flower. Its importance and the way it was treated by the prince. When the prince is about to travel onto the other planet, he found himself in the neighborhood of asteroids 325, 326, 327, 328, 329 and 330. The first of them was inhabited by a king, who was said to rule everything but the real thing is it’s completely nothing. The second planet was inhabited by a conceited man, who always think that everyone were his admirer. The third planet was inhabited by a tippler, who is not consistent with what he’s saying. The fourth planet belonged to a businessman, who is busy in counting stars and also believes that he owns them. The fifth planet was the smallest planet wherein there was just a street lamp and a lamplighter. The little prince has thought that the lamplighter could be his friend and also because of the 1440 sunsets it has every day, but the planet is too small for them. The sixth planet was ten times larger than the last one. It was inhabited by a geographer who wrote voluminous books. He was thought as an explorer and was asked several questions in his own planet. On the latter part, the geographer advised the planet Earth as the best to visit. When the little prince arrived in on the planet earth, he first met a snake claims that through his poison he can bring the little prince back to his planet. Had talk to a three-petaled flower, climbed in to highest mountain hoping to see a human. Then he found a rose garden that made him depressed because he thought of his flower in his planet which acclaimed she’s one of a kind. He also met a fox and they became friends. The fox made him realize what makes his flower unique is because of the way he gave importance to it. The prince continued his journey where he met the railway switchman and a merchant. He discovered lot of new things about differences of grown-ups and the children. Back to the present, the narrator experiencing dehydration and with the help of the little prince, he found a well. Later he found out that the little prince was deciding to go back to his planet for his flower through the help of the snake. The little prince made a very sentimental farewell but the narrator refuses to leave him alone in the desert. Soon, the little prince allowed the snake to bite him and falls without making a sign. The next morning, the narrator was not able to find the body of the little prince and concluded that he must be already at his planet. The story ends with a portrait of the landscape where they have met. Making the readers engage if some day they will be in African desert, and will meet a little man with the same characteristics. That will surely be the little prince. The Little Prince is known as a children fable and an example of allegory. Merriam Webster Dictionary defines allegory as the expression by means of symbolic fictional figures and actions of truths or generalizations about human existence. There are many symbolic fictional figures to consider in the story. First the stars, it symbolizes the feeling and emotions of humans. It also symbolizes the mystery of the universe. Secondly, the planets and the remarkable persons can be found on it. They symbolize the group of people, where different type or attitudes of grown-ups are in. Thirdly, the rose symbolizes as the comfort zone. If you won’t get out of it, you won’t discover or know a lot of important things. Fourthly, the trains which can be found in Chapter 22, it symbolizes the things how people rushed things and wasn’t able to see the importance of its existence. Lastly, the water symbolizes a spiritual fulfillment or as a completion for what supposed to be done. The point of view in the poem is a first person, which is the pilot. But mostly focuses in narrating the story up to the end. Still the question is, who is this book really written for? Yes, it has been said that this is good for both children and adults. But there are some ideologies might not be understandable for the children, just like the bizarre story of a little prince that fell in love with his flower. And for the adults wherein their negative perspective has been criticize. Is that what really the book for? A blogger named Erin (2008) of Goodreads said that â€Å"We are all children in adults bodies. Yes we are, don’t think we aren’t for one moment. The fact that we WERE, indeed, children, is a huge part of each of us. It is possible to shed a few appreciative tears on every page of this book if you entertain the thought that the pilot IS The Little Prince. Maybe you won’t think that–maybe you’ll have your own take on the book—that’s the magic about it†¦Consider honoring the Little You that still remains, and resides within you, and read this ‘salute’ to childhood, to innocence, and to you. It just takes a ‘Little’ imagination and bravery.† This book is made to tickle the imagination of the children as well as to show sort of the reality about grown-ups. Every story has its own moral lesson. In this story, children can have their own realization on reading it. Adults can also have their own insights about themselves. It’s good for the children to read because of its illustration, based on an open source site Wikipedia, The Little Prince was illustrated through watercolors painted personally by Exupery. Another unknown reviewer noted that the author â€Å"Exupery chose the best illustrations†¦ to maintain the ethereal tone he wanted his story to exude. Choosing between ambiguity and literal text and illustrations, Saint-Exupà ©ry chose in every case to obfuscate.† Also, good for the young adults because of its humorous attack in portraying values. The mood is first a mystery, wherein the little prince did not reveal where he comes from. It captures the imagination of the readers. Until pieces by pieces it became adventure when the little prince started to tell the story of his journey in seven planets including the Earth. The tone of the story is much more with being regretful when the little prince left his flower alone in his planet. Curiosity in the part of the narrator; about his real identity and where did he came from. Happiness and sadness all throughout the days were the narrator and the little prince were together in the desert. But at the end, still being able to treasure the moments they have together makes each characters happy. Philosophical approach is used because it mostly focuses in dealing with the undesirable values of grown-ups. Then a part of it is Biographical because some scenes are almost similar with the experience of the author. Example of this is the narrator’s boa constrictor drawing but grown-ups were always telling him that it’s a hat. For the author, this scene may be similar when he failed to enter in the preparatory university school and wasn’t able to pursue his dreams. Instead he ended up for being an aviator. There is also a part of Introspective approach as cited in by Wahlig (2010), it’s a reader-response approach, where the reader takes an active role in garnering meaning or value from a text. The reader is responsible for taking an inventory of her own biases, values or assumptions prior to reading and pinpointing the ways that a text challenges or reinforces those traits. Introspective approaches also value the subjectivity of the reader’s experience and assume that an objective reading is either impossible or no more valuable than a subjective reading. It occurs when it simply engage the readers if through their own experiences in dealing with the attitude of grown-ups and will make a self realization if the book’s telling the truth towards their attitudes. As the mostly recommended book for children, the writer executed a different type of writing or illustrating the story. Exupery stated on page 19, chapter 4 of the Little Prince: â€Å"Figures are a matter of indifference. I should have liked to begin this story in the fashion of the fairy-tales. I should have like to say â€Å"Once upon a time there was a little prince who lived on a planet that was scarcely any bigger than himself, and who had need of a sheep†¦Ã¢â‚¬  â€Å"to those who understand life, that would have given a much greater air of truth to my story.† The way he uniquely narrate the story is one factor why this became remarkable not only to the children but also to the French literature. This book is full of symbols and meanings, but what are the moral lessons? Valuing life as well as the little things on it is the highlight of this story. Everything we say or show to others will reflect to everyone’s who’s involved until the end. Just like what happened to the narrator of the story, he wanted to be an artist and also tried to show his drawings numbers one and two to the grown-ups of a boa constrictor. But he always gets a wrong interpretation and insisting him not to pursue his dream of being an artist instead focus on grammar, arithmetic, geography and history. The negative side of it reflected when he became a pilot, and someone asked him to draw a sheep. He did not know how to draw anything aside from boa constrictor since he stopped to draw when he failed about his boa constrictor. Also in reality, the way how people look more in to the physical appearance than to the inner side. Like on Chapter 4, where there was a Turkish astronomer in 1909 in a Turkish costume. Nobody believed on what he said about asteroid B-612 because of his look. And when he tried to present it again in European costume, everybody accepted his report. â€Å"It is only with the heart that one can see rightly; what is essential is invisible to eye.† Grown-ups are indeed so much like that, for them figures are more important than its meaning. The interpretation or understanding of the story will always depend on how it will touch one’s heart. References: * Adamson, Thomas Little Prince’ discovery offers new insight into classic book, The Times Tribune May 2012 * De Saint- Exupery, Antoine, The Little Prince, B. Jain Publishers (P) Ltd.  © * Goodreads, The Little Prince http://www.goodreads.com/book/show/157993.The_Little_Prince * Wahlig, Hannah, Types of Approaches in Literary Analysis, http://www.ehow.com/info_8368198_types-approaches-literary-analysis.html * Wikipedia, Antoine De Saint-Exupery http://en.wikipedia.org/wiki/Antoine_De_Saint_Exupery * Wikipedia, The Little Prince http://en.wikipedia.org/wiki/The_Little_Prince

Mathematically Modelling Basketball Shots Essays

Mathematically Modelling Basketball Shots Essays Mathematically Modelling Basketball Shots Essay Mathematically Modelling Basketball Shots Essay The manager of a professional basketball team is having a tough decision in choosing which of his two top scorers this season are better at free-throw shots. The final decision will go towards picking the team for Saturdays Cup Final match. On a training session one week before the match the coach decides to go all out and bring some mathematical genii in to model a situation where Lee Grimes and Dominic Aspbury, the goalscorers, will shoot at the basketball net. The mathematical genii are students from Cambridge and are benefiting from this opportunity in that they will be able to show evidence of coursework for their final exam. Their coursework will be using their abilities to collect data and test the appropriateness of a probability model on a real situation whilst the coachs aim will be to pick the better of the two players for the big game. If the random variables X and Y count the number of independent trials before the event, having a probability p, occurs then X and Y have geometric distributions: P ( X = r ) = q r 1 p where r = 1,2,3, X~G ( p ) and Y~G ( p ) I will define X as being the number of shots required before Lee shoots a basket. Therefore, Y is defined as the number of shots required before Dom shoots a basket. I will be attempting to see if X and Y have geometric distributions by taking samples of X and Y. The populations are the infinite range of shots capable from the two throwers taken in a discrete time period under varied conditions at the same level of skill. This is impossible to create so the coursework will have to involve sampling, therefore not producing results representative of the whole population. For this coursework I can not take random samples because it will not be possible to recreate due to the infinite choices of shot which could occur e.g. fatigue levels, mood type, improvement of skill level throughout the sampling etc. all could differ. I will record a sample of X by asking Lee to shoot a number of baskets and hence work out the relative frequency of success p. This result will allow me to model X as X~G ( p ) . Next I will record a sample for Y by asking Dom to shoot a number of baskets so that another value for the relative frequency of success p can be calculated. I can use the result to model Y as Y~G ( p ) . The conditions I will have to use are going to be as similar as possible to gain independent and identical shots. This will involve: * Five practice shots beforehand so that the feel of shooting is apparent a warm up before starting. * The shots being taken from the same free-throw position which is fifteen feet away from the base of the net and perpendicular to the back line. * The same type of shot being used using one hand to steady the ball and one to project the ball through the air. Same arms used each time. * The weather conditions being similar. In the sports hall there should be no significant alteration of the environment. * Each shot being taken one after the other to gain results, which will be under the most similar conditions. * When the shot is taken; a score implies one basket, a no score implies try again until you succeed. * Continue until the sample of eighty is reached and record all results If the data is successful I may be able to produce a reliable geometric model of the population from the sample enabling me to predict population parameters with greater confidence. Using the parameters I should be able to compare the populations by considering sample parameters. I have chosen a geometric model because it is an infinite distribution requiring discrete random variables and is able to accommodate the infinite range of shots that may be required to score a basket. The sum of all the probabilities will equal one (a probability density function). If X and Y have a geometric distribution, the distribution should look like this: The sample size shall be 80 as a large sample size makes the geometric distribution as accurate as possible for testing purposes. It also allows me to use the chi squared test on the model to check if there is any evidence to suggest that one thrower is better than the other at various critical levels. Assumptions that I am making to allow the model to work are that the trials are: * Identical: The factors are exactly the same. This provides a fair test and is a property of the geometric distribution. * Independent: The trials are not affected by the previous trial. The geometric model states that the events must be independent. No distribution could possibly account for the infinite amount of variables/influences that could occur e.g. improving skill as more shots are scored, fatigue etc. The variable would be different in each case. The five practice shots will make the distribution more geometric as it will warm up the performer beforehand so that they get used to the feel of shooting. * Have two outcomes score a basket or no score. * Repeated to gain the sample size Modelling the situation with a geometric distribution Let X be the number of attempts before a basket is scored for Lee: Probability of scoring a basket: P(score) = sample size/total number of shots = 80/269 = 0.2973977695 This implies X~G( 0.297 ) X can be modelled as a geometric distribution with a probability of scoring first time equal to 29.7% (1 d.p.) Finding Prob(X=r) Therefore P (no score) = 1 P (score) = 1- 0.2973977695 = 0.7026022305 Using the formula: P(X = r) = qr-1p where r = 1, 2, 3: q = probability of not scoring p = probability of scoring P( X = 2) = 0.7026022305 x 0.2939776957 = 0.2065493847 P( X = 3) = 0.7026022305(3-1) x 0.2939776957 = 0.14512205844 Finding Expected Frequency Expected Frequency for (X = r) = Prob (X=r) x sample size Therefore Expected Frequency for (X = 1) = 0.2973977695 x 80 = 23.791821 Expected Frequency for (X = 2) = 0.2065493847 x 80 = 16.7161869 Let Y be the number of attempts taken before a basket is scored for Dom: Probability of scoring a basket: P(score) = sample size/total number of shots = 80/345 = 0.231884058 This implies Y~G ( 0.232 ) Y is geometric with a probability of scoring first time equal to 0.232 (3 d.p.). This result states also that there is a 23.2% chance of scoring on the first attempt and I aim to model these results by a geometric distribution. Therefore P(no score) = 1 0.231884058 = 0.768115942 Therefore for Dom: P (Y = 2) = 0.768115942 x 0.231884058 = 0.1781138416 P (Y = 3) = 0.768115942(3-1) x 0.231884058 = 0.1368120813 Expected Frequencies will be: (Y = 1) = 0.231884058 x 80 = 18.55072464 (Y = 2) = 0.1781138416 x 80 = 14.24910733 Chi Squared Distribution The chi-squared distribution can be applied to measure the goodness of fit for the geometric models. It will examine the goodness of the model by considering the number of possible outcomes of the events and will analyse the validity of the assumptions. Thevalue will be expected to be small to suggest that the model fits the real distribution. A large value would suggest that the model is unlikely to be correct so I will use a 10% critical region to test it. * If thevalue lies within the critical region then, assuming the model is correct, it would mean that there is less then 10% chance of a result as high as this occurring. We reject the model as a consequence and conclude insufficient sampling etc. * Alternatively, if the value lies outside the critical region, the result is valid and there is a larger possibility of the value being what it is. The model is assumed to be correct and the model is accepted. Conclusion would be to state that the statistical model is appropriate to the situation and the assumptions are correct. In the tables, the expected and observed frequencies were calculated but how close together are the values? The closer the observed value to the expected value the more accurate the geometric model will be. The goodness of fit statistic is: where O = Observed Frequency E = Expected Frequency To find the best measure of goodness of fit, add up all values for each statistic and compare with the 2 probability distribution tables. The chi squared test should only be used if the expected frequency of a cell is more than five which means some of the groups are going to have to be combined. This enables the chi-squared distribution to be better approximated. The total frequency of expected frequencies should also be over 50. This makes the chi squared test work at a more accurate level. Lees chi squared test Using the equation : As we can see by the result = 7 To analyse the result with the chi squared test the number of degrees of freedom have to be established following this procedure: Degrees of Freedom = Number of Cells Number of Constraints In Lees table there are seven cells. The number of constraints is two because: o A sample size of eighty is one constraint: The sample has to be eighty. o The probability is another constraint: The mean of the model has to equal the mean of the data so we used the data to work this value out. * Therefore: Degrees of Freedom = 7 2 = 5 * at 10% critical level i.e. prob ( ) = 0.9 * but observed value of = 7.478504913 * 7.478 is less than 9.236 * therefore, the value is not in the critical region (result taken from probability distribution table) The value is not in the critical region implying the model is significant enough to use. Lees results fit into the geometric distribution model and therefore it is a good model for Lees data. There is evidence to suggest that the assumptions are true and therefore we accept the assumptions as part of the geometric model. See graph above for explanation of what the results show. Doms Chi Squared Test Using the equation : As we can see by the result = 5.694287179 * Degrees of Freedom = 8 2 = 6 * at 10% critical level i.e. prob ( ) = 0.9 * but observed value of = 5.694287179 * 5.694 is less than 10.645 * therefore, the value is not in the critical region (result taken from probability distribution table) Doms results fit into the geometric model, as the value is not in the critical region of 10%. We can assume that the geometric model was a good model to use for his results. We can again accept the assumptions as there is no evidence to suggest they do not fit into the geometric distribution. See graph above for an explanation of what the results shows. Both results are comfortably in the geometric distribution proving that they are reliable results/models and the assumptions made are valid. We can adapt Doms model so that five degrees of freedom can be used giving the same accuracy as Lees result. I am predicting that it wouldnt affect the results because there would need to be a dramatic increase in the value for it to be of any significance. Both performers have had their results analysed at the same number of degrees of freedom and there was no significant difference. It shows no alteration for the final conclusion and still no evidence is available to reject the models. Both results have shown X and Y can be modelled by the geometric distribution. By knowing this I could produce confidence intervals for any parameters I estimate from the distributions. However at this stage I will calculate the relevant parameter for this piece of coursework. I will estimate the expected number of shots required by Lee and Dom to score a basket. Expected Mean Values To find out the expected mean value for a geometric distribution it is defined as the sum to infinity of: all the probabilities, which are multiplied by the value of X (in Lees case), Y (in Doms case). This can be simplified conveniently to 1/p where p is the probability of scoring when X = 1 For Lee the expected mean value would be E[X] = = 3.3625 (4 d.p.) For Dom the expected mean value would be E[Y] = (4 d.p.) These results demonstrate the average amount of shots it takes until the performer scores. Lee, having a lower expected mean value than Dom, is shown to be the better free-thrower as he takes an average of approximately three shots to score, unlike four shown in Doms case. The total number of shots can be a very rough indicator of who seems to be the better free thrower. Lee took 269 shots and Dom accomplished 345 shots to score 80 baskets. Does this imply that Lee is more accurate? According to the expected mean values and the probabilities of scoring for each model it reinforces Lees success where all three tests are in his favour. There is a much higher chance now of Lee being picked for the game on Saturday. A factor of the investigation was whether taking constant shots at the basket improved performance. This may happen because training has occurred and the brain is learning from past mistakes. The question being asked is, were the five practice shots enough practice to enable an independent model to be produced or should it not have occurred? Raw data results were recorded in two stages; first 40 and second 40 and it suggests small decreases in many of the cells for 2nd 40 especially in Doms case. Lower values of X or Y become more frequent in the 2nd 40. This complicates results and so is a factor to consider if the coursework is completed again. The decreases in the higher X or Y values and the increases in the smaller X or Y values suggest evidence of fatigue, boredom, frustration etc. I can say now that skill level did not increase during the collection of the sample size but what is more likely to have occurred is the opposite. The explanation for Dom being more tired, bored or frustrated is probably because he shot a total of 345 baskets whereas Lee completed his in 269 shots. Two parent populations (X and Y) have been tested against geometric probability models and it so happens that they fit very snugly into them. Therefore, we can apply the knowledge that counting the amount of times before a basket is scored is modelled very well using a geometric distribution. There may be only two populations but they both show noticeable differences in their results and remain well within the statistical model. I will assume that it is highly probable for most other populations to fit into the geometric distribution on the basis that my models are very appropriate for the investigation. I have modelled the basketball situation in a real life atmosphere and the model was successful. Even though the situation is based on a theoretical distribution it was modelled appropriately. The club should now prepare for Lee having the role of free-thrower in this Saturdays cup final and accepting the fact that Dom is on the subs bench for the start of the game The data sampling was very organised and strict but not random. To have taken a random sample would mean: * Watching a random sample of club games throughout the season * Watching a sample of free-throws made by the performers from the game * Calculate who is most accurate A problem with this is time, as it would take a year to go through just one season, therefore it is impractical and illogical. The physical form of the player should also alter throughout the season so a random sample of more than one season would have to be made. A much better way is to watch all training sessions and take a general overview of who supplies the most points in miniature matches from free throws. This gives more of a view of consistency than on the day performance but during game situations the performer will be thinking more logically. A sample of eighty straight baskets is tedious and will affect performance. Modifications * Use a longer time period. The performers were rushed to collect their sample size within two hours as a result of school timetabling and so one of them had to rush his last twenty shots. * Use the same time period i.e. one performer did it one day and the other completed it the next day. Conditions may have been different and morale, energy etc may be variated for both Dom and Lee * Use foot-mats on the floor so that it indicates an exact position for the feet to stand instead of just using the line. This may be an insignificant difference but to improve the coursework it is better than no difference at all. * Using the same basketball. Half way through the sample collection the basketball was lost leaving us the trouble of having to use another basketball maybe of different weight, age etc and possibly affecting the results Improvements * I would like to calculate confidence intervals for both expected values (X and Y) to determine my degree of confidence in Lee being a better freethrower. * I would also like to be able to see if my result E[X] = E[Y] was statistically significant