Principles of Banking and Finance Essay

What does Sub-Prime Crisis means? Sub Prime lending which is also known as near-prime, non-prime and second chance lending, means lending to people who might have trouble repaying the loan due to income ability or credit ratings which previously would not have been available to them. Credit ratings that might be not favorable to them with the standards set up initially by Financial Institutions slowly dwindle to less strict under-writing of loans. which could also due to an influx of foreign capital making lending easier to these group of people, the investment banks that sold the repackage mortgages to the consumers which is one of the way to fund for capital, and the Housing Urban Development of America policy to ensure that its citizens has access to mortgage loans easily. The cheaper interest rate packaged by the Financial Institutions which seems more affordable for the consumer for the first 1 to 5 years and the thereafter interest rate would have jumped significantly. The loan s here generally referred to mortgage loans. The Crisis started or snowball into what it was in 2007 in my opinion was due to greed. Greed into thinking that the property boom would continue in perpetuity so that the borrowers could cash out more from their current property market valuation, with this cash out in terms of personal loan they could fund or finance their lifestyle be it buying a new property for investment purposes, to flip or for rental. For the luxury in life they choose to enjoy now, spending future money. As the economy slowed, jobs are being taken away from corporation in America to other countries which have a cheaper source of overhead expenses and manpower. People are being retrenched thus causing them to start defaulting on their loan repayments. A statistic done has shown that the American households do not have any savings but was laden with debt instead. The housing bubble burst, the market does not have that much capital as it used to have to continue to push property prices up anymore, thus causing the market to slow overall, foreclosures of their properties was happening. Consumers was also unable to obtain a refinancing which they had planned previously to lower their interest rate again when it went up, as financial institutions feel the pinched and controlled its lending. How did the Financial Institutions played a part in this? In the past banks have financed their mortgage lending activities through the deposits they receive from their customers. This has confined the amount of mortgage lending they could do. In recent years, banks have designed a new model where they repackage these mortgages to be sold to the bond markets. This has made it a lot easier to fund additional borrowing from the investors and interest rate was low. But it has also led to abuses as banks no longer have the incentive to check carefully the mortgages they issue to the lenders. The failure to check and curb lending in return for the possibility of profit was one of the causes. The first sign of the sub-prime crisis was as early as 2007 when HSBC Finance which is part of the banks north American subsidiary has to write off 880 million in sub-prime lending. The business has become unsustainable as borrowers started to default. The new model which we have come to know is known either as Mortgaged backed Assets or Collateral Debts Obl igations. The repackage mortgages are being sold to the bond markets, before they can be sold, credit rating agency will determine and give the model a rating. A credit rating for an issuer takes into consideration the issuer’s credit worthiness example its ability to pay back a loan, and affects the interest rate applied to the particular security being issued. These MBS or CDOs as it has come to know are usually marketed to countries which has a surplus in its balance sheet as it was generally known that Asians believe in savings rather than spending future money thus the products were usually marketed in Asia, It is allege that the rating agencies experienced from conflicts of interest, as they were paid by investment banks and other firms that organize and sell these structured securities to investors. If there are not to give favorable ratings to these products they risk the underwriter of these securities to another rating agency. It would be hard to sell these products if they are not being given a rating to begin with. Once they are sold the banks have in a way diverted part of the risk to the consumers. Investors should not rely too heavily on these ratings agencies opinions but instead carry out their own homework in the safeness of debt level as well as others related securities. Probably the opinions of the agencies enable them to get a conclusion, however based on past decade of event, it can only be consider as off base when it comes to the risk of credit event. Investors should try to put themselves in the shoes of the product pushers, asking themselves very important points like, why do you need to sell these products? Do you own any of these products yourself? If it is as good as you mention have the private investors bought and participated a substantial amount of their savings in it? Perhaps there need to be some form of intermediaries whereby no conflict of interest will affect their opinion and report of these products. A case study in Singapore itself which has made headlines during this crisis was the minibond saga which was being sold in Singapore by a couple of Financial Institutions. The originator of this series of structured products was the now defunct Lehman Brothers. The Minibond was being illustrated to the local consumer as a bond which is not the case it is actually a Collateral Debts Obligations. The relationship managers in banks are eager to sell the product because of the high commission and the consumer who are eager to buy because the returns are much higher than the fixed deposit being offered by the banks. An estimated of 500 million Singapore dollars was purchased for the Minibonds by consumers. It stirred a series of conflicts with the Financial Institutions that sold these products, the consumers cried fouled into being mis-sold of it, some of the consumers managed to get back part of their investment and vowed not to touch these structured products ever again. We can take a look back into the 1990s where one of the policy set up and enforce by the Housing and Urban Development of America, was one of the cause of the sub prime crisis. With the support of the government, HUD has less mortgage restriction requirements on its borrowers. The mandate was that Fannie Mae and Freddie Mac which was regulated by HUD, was to generate up to 8 million more homeowners in America. It was known as the â€Å"National Homeownership Strategy†. No down payment was required, 100% financing for the property was the norm. This was partly possible due to the influx of cheap money in the market, wit h this cheap money consumers speculated with the market, they kept buying new homes thus the good years of where the appreciation of the property keep going up. Financial Institutions dare to lend due to the market confidence that it can only keep going up, borrowers confidence that the market too can only keep going up. A check with HUD official website, apparently the US government is still supporting home ownership program without first addressing a stable income issue. Only with a stable income can a person make regular commitment to his or her housing loan commitment. Kudos to the Singapore government for taking appropriate actions during the last few years when their economy was recovering, the measures taken to prevent over speculation of the property market in Singapore. Homebuyers with the extra cash were snapping up properties, either for owner’s occupation or for investment purposes. The government either learned from the Sub-prime crisis or foreseen that if it continues the way it is going, a market crash might be imminent or the crash will be too fast and hard, no soft landing for the consumers. As they knew that property market have its up and down. Steps was taken, it used to be 90/10. Whereby the buyer have to come up with 10% cash and the remaining 90% can be financed through a financial institutions regardless of the number of property they currently owned. It was changed to 80/20 rule, 20% of which is the owner’s own cash an 80% through financing. Surprisingly it did not deter the consumers, the market still kept soaring. The next rule implemented was the 80/20 rule for first time buyers, meaning buyers without any current mortgage loan, for buyers with an existing mortgage which was not yet paid up; they are only eligible for 60/40. 60% financing for their new property and an increased in the stamp duty to be paid for to the government if it was their 3rd property for Singaporean. The hardest hit was the foreigners who are seeking to invest their money in Singapore properties as they have to pay additional 10% stamp duty which is likely to deter most of them. P rices still kept going up, the latest ruling was much more complex than the previous few. If one is looking at 80% financing one can only borrow up to the age of 65 years old and tenure of not more than 30 years. Which was not the case previously, in previous scenario it was dependent on different Banks guideline in Singapore, they could lend up to the age of 70, 75 or 80. They stepped in and put a cap at 65 as they believe that is the retirement age. If you want to extend your loan tenure your financing amount will drop to either 60% or 40%. I believe the government did this as they knew that the US is going ahead with Quantitative Easing 3, they want to prevent too much hot money from landing in Singapore shore. To sum up, we learned from our mistakes and grow not to make the same mistake twice. A healthy economy is based on real economic goods with value. Hopefully US can still continue to create innovative products like Apple and keep their manufacturing production in US soil, get employment rate up. The citizens have to maintain their expectations in terms of salary wise and spend within their means. Tighten up their way of lending and controlling Banks to a certain extent, a culture that is profit driven but with ethnics. Can heed the investment guru jim roger’s advice to focus on farming as there will be a food shortage in time to come. Induce good saving habits in everyone to save up for a rainy day. http://www.ethicalquote.com/docs/SubprimeMortgageCrisis.pdf http://news.bbc.co.uk/2/hi/business/7073131.stm http://en.wikipedia.org/wiki/Government_policies_and_the_subprime_mortgage_crisis http://www.washingtonpost.com/wp-dyn/content/article/2008/06/09/AR2008060902626.html http://www.thetruthaboutmortgage.com/mortgages-with-no-money-down/ http://www.telegraph.co.uk/finance/markets/2816291/HSBC-hit-by-sub-prime-crisis.html

Guns germs and steel Essay

Jared diamond and his theory on how and the Europeans were so successful in their conquest of the incans. This was made possible due to the location of Europe. With the inventions of guns, and steel, along with being exposed to many germs before the incans. This gave the conquestidors many advantages over the inca. Once the Spanish conquered the Incas they had weapons that were unseen and unheard of to the indigenous. This was terrifying to the Inca community because they were unaware of the damage these weapons could cause and the power the Spanish had. The Spanish had been at war with the Mores for approximately 700 years. This gave them experience in fighting and also allowed them to construct the weaponry necessary for war. The Islamic were known to be the first to invent the the gun, but the Chinese invented the gunpowder. These separately were not useful, as the Chinese did not use gunpowder as a weapon. This was when the Spanish decided to combine the two and create what was k nown as the Harquebus. It was superior to any other gun known at the time. The Spanish had plenty of experience when they arrived to invade the Incas, was was not new to them. This gave them a possible advantage in weapons and fighting tactics. Since the Spanish had been at war for so long, they found the need to create more weapons, at which time the sword was invented. This was capable stabbing and slashing with great facility. The process of attempting to find the perfect sword took several hundreds of years. It was known as a family business, in which each person’s desire was to create a better sword than those by their ancestors. It was discovered that Iron infused with carbon was the perfect combination to creating a proper sword. The more carbon the harder the sword, but there must be a precise combination of sufficient flexibility and strength to the sword. The Rapier was seen to be that perfect sword, it was long sharp and strong. It not only became popular for war but also amongst gentlemen, this was the time at which it became common to wear your sword towards the side of your waist. These people were known to have descendants that were knights during the medieval times. There was a long process in Europe in attempting to create that perfect fighting weapon  which allowed to kill many in a short amount of time. Once the Rapier was introduced it gave Spain more power in weaponry, which allowed conquistadors to have an enormous advantage. During this time of exploration, slaves were brought to the Americas from Africa and Europe. These were transported in ships, at which time it was discovered that some had diseases which were easily transmitted amongst themselves. This became an epidemic that was brought to the new lands, and affected the indigenous people. Europe had previously gone through this disease, which was contracted by domestic animals. This caused many deaths, but those who survived became immune to these diseases. Once the epidemic arrived to the Americas, the indigenous became utterly ill. They unlike the Spanish, were not immune to these diseases because of their lack of domestic animals. Approximately 95% of the Inca population died. This completely destroyed their community, and allowed for the Spanish to conquer the lands easily and obtain their gold. The Inca’s numbers decreased almost immediately, which caused them to have a lack of power as well as army. This was an advantage to the Spanish which they used at their favor, taking over completely of the Incas. In conclusion the Europeans were able to conquer the incas easily because of geography and where they were located. They aquired guns first and the germs were ar ound more because of the animals they lived with and how they had many years to perfect their weapons and the steel was aquired first too.

Literacy in America Essay

America, the most technologically advanced and affluent of all nations on the earth, seems to have an increasingly larger illiteracy rate every year. This has become and continues to be a critical problem throughout our society as we know it. According to the National Adult Literacy survey, 42 million adult Americans can’t read; 50 million are limited to a 4th or 5th grade reading level; one in every four teenagers drops out of high school, and of the students who graduate, one in every four has around an 8th grade education. Why? You ask. This problem will never fix itself and will take quite a bit of time to overcome. We need to make sure that everyone is aware of the social problems, poverty and lack of family interaction that occurs everyday in many, if not all, communities throughout America. â€Å"Nearly a billion people, two-thirds of them women, will enter this world unable to read a book or write their names,† warns UNICEF in a new report, â€Å"The State of the World’s Children 1999. † UNICEF, the United Nations Children’s Fund, points out that the illiterate â€Å"live in more desperate poverty and poorer health† than those who can read and write. (Boaz). The most important factor that contributes to the outrageous statistics of illiteracy is that of poverty. Poverty is an issue that more and more of our nation’s children are coming face to face with and the price they must pay is unbelievably high. Poverty is considered a major at-risk factor (Leroy 2001). The term at-risk refers to children who are likely to fail whether it 2 be at school or life in general because of their life’s social circumstances. Some of the factors that may place these children at-risk are: dangerous neighborhoods; young, uneducated parents; unemployment; and inadequate educational experiences. Teachers need to be aware of the circumstances that their students face and be able and ready to help these children find a balance between the cultural values that they may have and values emphasized in school. By providing emotional support, modeling, and other forms of scaffolding, teachers can help students use their strengths, skills, and knowledge to develop and learn ( Marlowe and Page,9). The United States prides itself on being a free, democratic state. Jonathan Kozol’s essay â€Å"The Human Cost of an Illiterate Society† states that the United States is not the democracy it claims to be. For democracy to work at its best, a true representation of the common interests and how the majority feels about those interests must be in place. According to Kozol, about â€Å"60 million people in the United States are illiterate. † For the United States to be the self-functioning democratic state it proclaims to be, it has to be a literate society. The people of the United States are not part of a democracy without the full capacity to make informed choices, and furthermore cannot reap the benefits that a democratic society has to offer if the best interests of the majority are not represented. Direct quote #2 (Madison)with signal phrase. Hypo-thetical example James Madison wrote that a â€Å"people who mean to be their own governors must arm themselves with the power knowledge gives. A popular government without popular information or the means of acquiring it is but a prologue to a farce or a tragedy, or perhaps both† (Surowiecki, page 4). Voting is by far the most important aspect of a democratic society, and the percentage of people who do vote is a topic of much discussion here in the United States. If the number of people not voting is such a significant concern then the reasons they are not voting is 3 as well. An uneducated vote is not any better than a vote not cast at all. Imagine going to a voting booth and voting for a person or a ballot measure based on the ads you see on the TV only. In this circumstance, decisions are often made based on the negative ideas offered by both major political parties. If 60 million people in the United States cannot read, then they cannot cast a vote truly representative of their opinions. As Kozol claims, the United States has in fact become a government â€Å"of those two thirds whose wealth, skin color, or parental privilege allows them opportunity to profit from the provocation and instruction of the written word† (Kozol). The percentage of the population that is illiterate cannot choose which candidates make it onto the ballots, they cannot sign petitions, and they cannot choose which measures will pass or those that will fail. Direct quote #3 (Kozal), with signal phrase e. Of equal importance to a democratic society are the benefits that literacy provides to the public. When one is illiterate they are not able to reap the benefits of a free society. The freedom to choose enhances one’s chances of experiencing the best of anything. Illiteracy makes for a life of settling. An illiterate person has to settle for another’s interpretations of the world. According to the article ‘Democracy 101,† the ability to read opens a world that many people do not consider. The choice of where to live, what to eat, and where to work may all seem commonplace to the average literate person. Kozol uses the warning on a can of Drano in the opening of this essay to educate. It may take a moment for it to sink in but the reader will soon realize how much power reading and writing holds. Life, liberty and the pursuit of happiness are supposed to be guaranteed to all citizens of this country. Those that cannot read or write do not have the capability to choose who are the best people suited for ensuring those rights. Perhaps more importantly the 60 million illiterate people in this country cannot make the choices necessary to make use of those rights (Kozol). References Boaz, David. â€Å"Illiteracy — The Bad News and the Good. † Cato Institute. 20 Jan. 1999. Kim, J. K. â€Å"NRRF – Illiteracy: An Incurable Disease or Education Malpractice? † Kozol, Jonathan, Illiteracy: The Enduring Problem. â€Å". Leroy. â€Å"The Effects of Poverty on Teaching and Learning. † 2001 Surowiecki, James. â€Å"The Dangers of Financial Illiteracy in America. † The New Yorker.

Individual Assignment Essay

Determine which level of measurement— nominal, ordinal, interval, or ratio—is used in the following examples. The Association of Accountants is conducting a survey to determine the ranking of the top 100 accounting firms in the world. Ordinal How many years did it take you to earn your college degree? Ratio On a questionnaire which asks for gender, males are coded as 1 and females are coded as 2. Interval Respondents are asked to rate a list of high-tech companies as excellent, good, fair, or poor in terms of their service delivery. Ordinal Cereal brands are arranged in an ordered sequence in which an equal interval exists between each point. Interval LeBron James wears the number 23 on his jersey. Nominal The length of time it takes the winner of a marathon to cross the finish line. Ratio Students are asked to rank computer manufacturers. Interval The brand of charge card used by a customer. Nominal The pin number used to access your checking account. Nominal Which sampling method—simple random, systematic, stratified, cluster, convenience, judgment, quota, or snowball—is most appropriate for the following examples? The unemployment rate is calculated each month by the U. S. Bureau of Labor Statistics. The survey consists of 50,000 households in about 2,000 counties and cities in all 50 states. Simple Random A researcher for Kraft Foods selects five states randomly, and then selects 10 supermarkets chains within each state to call for a phone survey as test markets for a new cookie. Quota A new pr oduct researcher would like to investigate the use of virtual teams. After conducting an interview with a manager, she asks for the names of other managers that use virtual teams. Convenience A news reporter asks people on the street their opinion about the president’s new bill. Snowball Jamie select Denver, Colorado; Chicago, Illinois; and San Diego, California as test markets for a new potato chip line base on her experience with these markets. Judgment A researcher instructs field interviewers to interview customers of different cell phone companies in a nearby shopping mall so that they each interview 10 AT&T, 8 T Mobile, 6 Verizon, and 4 owners of other cell phone providers. Convenience The Consumer Price Index represents a sampling of 90,000 items from 364 categories, chosen from 20,000 retail stores in 85 geographically distributed areas that are chosen to be as similar as possible. Cluster A finance professor wants to know how many MBA students would be willing to take a course in international finance this summer. She surveys students in the class she is currently teaching. Convenience Which hypothesis-testing procedure would you use in the following situations? The mean time an American family lives in a particular single-family dwelling is 11. 8 years. A sample of 100 families in the Sycamore, OK area shows the mean time living in a single family residence is 12. 7 years. Can we conclude that the time people live in Sycamore is significantly more than the national average? One Sample Z-Test A researcher would like to know if there is a significant difference in clothing purchases between full-time working women, part-time working women, and women who are homemakers. ANOVA Eighty percent of those who play the state lottery never win more than $100 in one play. A sample of 500 players was drawn and the mean winning was $125. One Sample Z-Test A drug manufacturing company conducted a survey of customers. The research question was as follows: Is there a significant relationship between packaging preference (size of the bottle purchased) and economic status? There were four packaging sizes: small, medium, large, and jumbo. Economic status was categorized as follows: lower, middle, and upper. Regression Hypothesis Test A company has 24 salespeople. The test must evaluate whether their product knowledge has improved or remained unchanged after a training program. T-test of dependent samples A computer company has a brand loyalty rating of 6. 8 on a 7 point scale. Is this company’s rating significantly different from the industry average of 6. 4? Two-tailed One Sample T-Test The manager of an office supply store wanted to determine which color folders she should discontinue based on low sales. The colors stocked were black, blue, red, green, and purple. ANOVA

Test Bank: Introduction to Probability and Statistics

True/False Questions 1. The standard deviation of any normal random variable is always equal to one. Answer: False Type: Concept Difficulty: Easy 2. For any normal random variable, the probability that the random variable will equal one is always zero. Answer: True Type: Concept Difficulty: Medium 3. The graph of a standard normal random variable is always symmetric. Answer: True Type: Concept Difficulty: Easy 4. The formula will convert any normal distribution into the â€Å"standard normal distribution. † Answer: True Type: Concept Difficulty: Easy 5.Any normal random variable with standard deviation equal to one is a standard normal random variable. Answer: False Type: Concept Difficulty: Medium 6. The notation X – N(4, 32) indicates a normal distribution with mean 2 and standard deviation 3. Answer: False Type: Concept Difficulty: Easy 7. The total area under a normal curve is always equal to one. Answer: True Type: Concept Difficulty: Easy 8. The notation Z  œ N(0, 1) indicates a standard normal distribution. Answer: True Type: Concept Difficulty: Easy 9. The probability that a normal random variable will be within two standard deviations of its mean is approximately 0. 8. Answer: False Type: Concept Difficulty: Easy 10. The normal distribution is a continuous distribution. Answer: True Type: Concept Difficulty: Easy 11. The normal distribution can be used to approximate the binomial distribution when both np and n(1 – p) are at least five. Answer: True Type: Concept Difficulty: Easy 12. The normal distribution approximation to the binomial works best when n is large. Answer: True Type: Concept Difficulty: Easy 13. The formula can be used with both a normal and binominal distribution. Answer: True Type: Concept Difficulty: Easy Multiple Choice Questions 4. Find P(-2 < Z < 2). A)0. 9544 B)0. 4772 C)0. 9772 D)0. 6826 E)none of the above Answer: A Type: Computation Difficulty: Easy 15. Find P(-0. 5 < Z < 0. 5). A)0. 3830 B)0. 1915 C )0. 6515 D)0. 3085 E)none of the above Answer: A Type: Computation Difficulty: Easy 16. What is the probability that a standard normal variable will be between -0. 5 and 1. 00? A)0. 2857 B)0. 5328 C)0. 6687 D)0. 2500 E)none of the above Answer: B Type: Computation Difficulty: Easy 17. Find the probability that a standard normal random variable has a value greater than -1. 56. A)0. 0332 B)0. 0594 C)0. 9406D)0. 9668 E)none of the above Answer: C Type: Computation Difficulty: Easy 18. Let X be a normally distributed random variable with mean 100 and standard deviation 20. Find two values, a and b, symmetric about the mean, such that the probability of the random variable being between them is 0. 99. A)90. 5, 105. 9 B)80. 2, 119. 8 C)22, 78 D)48. 5, 151. 5 E)90. 1, 109. 9 Answer: D Type: Computation Difficulty: Medium 19. A professor grades his students on a normal distribution, with mean at 75 and standard deviation of 15. If there are 39 students in his class, about how many score bet ween 80 and 90? A)5B)21 C)8 D)13 E)none of the above Answer: C Type: Computation Difficulty: Hard 20. A calculator manufacturer performs a test on its calculators and finds their working life to be normally distributed, with a mean of 2,150 hours and a standard deviation of 450 hours. What should the manufacturer advertise as the life of the calculators so that 90% of the calculators are covered? A)2,555 B)1,947 C)1,410 D)1,745 E)1,574 Answer: E Type: Computation Difficulty: Hard 21. You have two stocks: A and B. The price of each stock is normally distributed. Stock A has a mean of 25 and a standard deviation of 3.Stock B also has a mean of 25, but the standard deviation is 5. If I buy stock A at $25 and sell it on a randomly chosen day in the future (without knowing its price then), what is the probability that I will make at least $2 on each share? Answer the same for stock B. A)0. 2514, 0. 1554 B)0. 2514, 0. 3446 C)0. 2486, 0. 1554 D)0. 2486, 0. 3446 E)none of the above Answer: B Type: Computation Difficulty: Hard 22. Find two values symmetric around a mean of 20 such that they include an area equal to 0. 75. (standard deviation = 5). A)16. 65, 23. 35 B)19. 25, 20. 75 C)16. 25, 23. 75 D)14. 25, 25. 75E)none of the above Answer: D Type: Computation Difficulty: Hard 23. A spark plug manufacturer believes that his plug lasts an average of 30,000 miles, with a standard deviation of 2,500 miles. What is the probability that a given spark plug of this type will last 37,500 miles before replacement? A)0. 0228 B)0. 0114 C)0. 0013 D)0. 0714 E)0. 0833 Answer: C Type: Computation Difficulty: Medium 24. Fluctuations in the exchange rate of dollars against the pound sterling over a short time period were approximated by a normal distribution with a mean of 2. 01 and a standard deviation of 0. 13.What is the probability that the rate on a particular day was more than 1. 90? A)0. 8461 B)0. 3023 C)0. 8023 D)0. 3461 E)none of the above Answer: C Type: Computation Difficult y: Medium 25. The average time it takes for a letter in the United States to reach from one place in the 48 contiguous states to another is 3. 2 days, with a standard deviation of 0. 85 days. What is the probability of a letter arriving at its destination no more than four days after mailing? Assume a normal distribution. A)0. 1736 B)0. 3264 C)0. 8264 D)0. 6736 E)0. 6528 Answer: C Type: Computation Difficulty: Medium 6. The contents of a particular bottle of shampoo marked as 150 ml are found to be 153 ml at an average, with a standard deviation of 2. 5 ml. What proportion of shampoo bottles contain less than the marked quantity? Assume a normal distribution. A)0. 2192 B)0. 1151 C)0. 4452 D)0. 0548 E)none of the above Answer: B Type: Computation Difficulty: Medium 27. The age of people in a town is normally distributed, with a mean of 34 years and a standard deviation of 11 years. Find two values for age that will give a symmetric 0. 95 probability interval. A)28. 78, 39. 23 B)32. 3 0, 66. 30 C)23. 55, 44. 45D)12. 44, 55. 56 E)15. 91, 51. 10 Answer: D Type: Computation Difficulty: Medium 28. The weight of apples in a farm is normally distributed, with a mean of 110 grams, and a standard deviation of 15 grams. Find the probability that an apple selected at random will weigh between 95 and 105 grams. A)0. 3413 B)0. 4706 C)0. 1293 D)0. 2108 E)0. 5294 Answer: D Type: Computation Difficulty: Medium 29. A grocery store has a mean accounts receivable of $264, with a standard deviation of $55. The accounts receivable are normally distributed. What proportion of all accounts will be greater than $275? A)0. B)0. 1 C)0. 4207 D)0. 0793 E)0. 0228 Answer: C Type: Computation Difficulty: Medium 30. A grocery store has a mean accounts receivable of $264, with a standard deviation of $55. The accounts receivable are approximately normally distributed. Find the value such that 45% of all the accounts exceed this value. That is, find x such that: P(X > x) = 0. 45. A)$257. 13 B)$3 54. 48 C)$270. 91 D)$309. 00 E)none of the above Answer: C Type: Computation Difficulty: Medium 31. The waist measurement of students in a college is normally distributed. The standard deviation is known to be five inches.It is found that 15% of the students have waist sizes less than 28 inches. What proportion of students will have waists between 30 and 35 inches? A)0. 3795 B)0. 2389 C)0. 1406 D)0. 0983 E)none of the above Answer: A Type: Computation Difficulty: Hard 32. The IQs of the employees of a company are normally distributed, with a mean of 127 and a standard deviation of 11. What is the probability that the IQ of an employee selected at random will be between 120 and 130? A)0. 2389 B)0. 3453 C)0. 1064 D)0. 1325 E)0. 4638 Answer: B Type: Computation Difficulty: Medium 33.The mean life of a computer disk drive is 2,000 hours, with a standard deviation of 140 hours. Assuming the life-time of the drives to be normally distributed, find the probability of a disk-drive lasting m ore than 1,800 hours? A)0. 4236 B)0. 9236 C)0. 8472 D)0. 5764 E)0. 2118 Answer: B Type: Computation Difficulty: Medium 34. The average bill for car repairs at a car service center is $196, with a standard deviation of $44. Assuming the bills to be normally distributed, find the probability of a bill exceeding $300. A)0. 4909 B)0. 0182 C)0. 9819 D)0. 1406 E)0. 0090 Answer: E Type: Computation Difficulty: Medium 35.The GMAT scores of students in a college are normally distributed with a mean of 520 and a standard deviation of 41. What proportion of students have a score higher than 600? A)0. 9744 B)0. 2372 C)0. 4774 D)0. 0255 E)none of the above Answer: D Type: Computation Difficulty: Medium 36. The probability that a normal random variable with mean zero and standard deviation one will equal the number 1. 00 is: A)1 B)0. 9 C)0. 3413 D)0. 1587 E)0 Answer: E Type: Concept Difficulty: Medium 37. Suppose that X is a normal random variable with mean 17 and standard deviation 10. The proba bility that the value of X will be between -2. and 36. 6 is: A)0 B)0. 90 C)a number very close to 1 D)0. 95 E)0. 99 Answer: D Type: Computation Difficulty: Medium 38. Suppose that X is a normal random variable with mean 10 and standard deviation 4. Then the probability that X will be greater than 12 is: A)0. 1587 B)0. 3085 C)0. 1915 D)0. 4772 E)none of the above Answer: B Type: Computation Difficulty: Medium 39. A normal random variable has a distribution that is: A)always symmetric B)never symmetric C)sometimes symmetric D)symmetric if the mean is positive E)symmetric if the variance is negative Answer: A Type: Concept Difficulty: Medium 0. The distribution of X, the number of cars sold per day, where X can be 0, 1, 2, 3, 4, or 5 is: A)sometimes normally distributed B)never normal C)always normal D)a uniform distribution E)none of the above Answer: B Type: Concept Difficulty: Medium 41. What is the probability that a normal random variable with mean 15 and standard deviation 5 will have a value of exactly 25? A)0. 0228 B)0. 0456 C)0. 9772 D)0 E)1 Answer: D Type: Concept Difficulty: Medium 42. If X is a normal random variable with mean 12 and standard deviation 2, then the probability that X will exceed 16 is? A)0. 4772 B)0. 0228 C)0. 9772 D)0 E)1 Answer: B Type: Computation Difficulty: Medium 43. If X is a normal random variable with mean 15 and standard deviation 10, then the probability that X will have a negative value is: A)0. 0668 B)0. 432 C)0. 9332 D)0. 8664 E)none of the above Answer: A Type: Computation Difficulty: Medium 44. If X is a normally distributed random variable with mean 16 and variance 64, the probability that the random variable will have a value between 0. 32 and 31. 68 is: A)0. 99 B)0. 90 C)0. 85 D)1 E)0. 95 Answer: E Type: Computation Difficulty: Medium 45.For a normally distributed random variable with mean zero and standard deviation five, the probability that its value will be greater than -5 is: A)0. 4772 B)0. 9544 C)0. 3413 D)0. 8 413 E)none of the above Answer: D Type: Computation Difficulty: Medium 46. What is the probability that a standard normal random variable is between -0. 4 and 1. 4? A)0. 3413 B)0. 4254 C)0. 5746 D)0. 2638 E)none of the above Answer: C Type: Computation Difficulty: Easy 47. All of the following are characteristics of the normal distribution, except: A)symmetric about the mean B)bell-shaped curve C)total area under the curve is always oneD)it is a discrete distribution E)probability that x is equal to any specific value is zero Answer: D Type: Computation Difficulty: Medium 48. Find two values symmetric about a mean of 100, standard deviation of 10, such that they include an area equal to 0. 95. A)90, 110 B)80. 4, 119. 6 C)98. 04, 101. 96 D)70, 130 E)none of the above Answer: B Type: Computation Difficulty: Medium 49. A tire manufacturer believes its tires will last an average of 48,000 miles, with standard deviation of 2,000 miles. What is the probability that one of these tires, cho sen at random, will last at least 50,000 miles?A)0. 6587 B)0. 3413 C)0. 1587 D)0. 4772 E)none of the above Answer: C Type: Computation Difficulty: Medium 50. Suppose that an instructor gives an exam. This instructor wants to give those students in the top 2. 5% an A on this exam. What will the cutoff be for an A, if the average score on this exam is 80, with a standard deviation of 5? A)about 80 B)about 90 C)about 85 D)about 86 E)none of the above Answer: B Type: Computation Difficulty: Hard Use the following to answer questions 51-54: LittleAir operates a fleet of regional jets on a contract basis for a major air carrier.LittleAir's jets seat only 50 passengers, but because passengers' travel plans often change, LittleAir books up to 60 reservations for a typical flight. Booked passengers have a â€Å"no-show† probability of 0. 25. 51. Suppose LittleAir loses money if the number of passengers on a flight is less than 40. What is the probability that a randomly selected Littl eAir flight will have fewer than 40 passengers? A)0. 0367 B)0. 0505 C)0. 0681 D)0. 0901 E)0. 1492 Answer: B Type: Computation Difficulty: Medium 52. What is the probability that a randomly selected LittleAir flight will be overbooked (i. . , have more passengers show up than there are seats available)? A)0. 1170 B)0. 0901 C)0. 0681 D)0. 0505 E)0. 0367 Answer: D Type: Computation Difficulty: Medium 53. What is the probability that a randomly selected LittleAir flight will be full? A)0. 1170 B)0. 0901 C)0. 0681 D)0. 0505 E)0. 0367 Answer: B Type: Computation Difficulty: Medium 54. Suppose LittleAir gives compensation vouchers to any passenger who is denied a seat on an overbooked flight. Because these vouchers are valuable (> $200), management would like to keep the number of them on-hand at a minimum.How many vouchers should be held at the gate such that there are enough for at least 99% of all situations? A)1 voucher B)2 vouchers C)3 vouchers D)4 vouchers E)5 vouchers Answer: C Type : Computation Difficulty: Hard Use the following to answer questions 55-57: The ski season at a popular resort destination lasts 120 days. Experience has shown that the probability of snow on any given day is 0. 55 and is independent of whether or not there was snow on the previous day. 55. What is the probability of there being more than 60 days of snow in any given year? A)0. 7967 B)0. 8438 C)0. 8643D)0. 8830 E)0. 8997 Answer: B Type: Computation Difficulty: Medium 56. What is the probability of there being fewer than 55 days of snow in any given year? A)0. 0409 B)0. 0268 C)0. 0217 D)0. 0174 E)0. 0139 Answer: D Type: Computation Difficulty: Medium 57. Suppose a particular hotel at this destination breaks even or makes money so long as there are at least 50 days of snow but no more than 70 days of snow. What is the probability of the hotel's losing money in any given year? A)0. 8438 B)0. 7955 C)0. 7944 D)0. 7664 E)0. 7657 Answer: B Type: Computation Difficulty: Hard 58.If, for a bi nomially distributed random variable n*p = 5 and n*(1-p) = 5, then a _____________ distribution with a mean equal to _____ and a standard deviation equal to _____ typically can be used. A)Normal; ; B)Normal; ; C)Exponential; ; D)Exponential; ; E)Hypergeometric; ; Answer: A Type: Concept Difficulty: Easy Short Answer Questions Use the following to answer questions 59-67: If x ~ N(40, 32): 59. Find p(X ; 37) Answer: 0. 8413 Type: Computation Difficulty: Medium 60. Find p(X ; 47) Answer: 0. 0099 Type: Computation Difficulty: Medium 61. Find p(42 ; X ; 47) Answer: 0. 415 Type: Computation Difficulty: Medium 62. Find p(X ; 41) Answer: 0. 3707 Type: Computation Difficulty: Medium 63. Find p(36 ; X ; 41) Answer: 0. 5375 Type: Computation Difficulty: Medium 64. Find p(36 ; X ; 39) Answer: 0. 2789 Type: Computation Difficulty: Medium 65. Find x1 such that: p(X ; xl) = 0. 0475 Answer: 45 Type: Computation Difficulty: Medium 66. Find xl such that: p(40 ; X ; xl) = 0. 3770 Answer: 43. 48 Type: Computation Difficulty: Medium 67. Find x1 such that: p(X ; x1) = 0. 0154 Answer: 33. 52 Type: Computation Difficulty: MediumUse the following to answer questions 68-69: There are two shipping routes between a plant and a distribution point. The average time by route A is 220 minutes with a standard deviation of 20 minutes. The average time and standard deviation by route B are 200 and 40, respectively. Assume the distributions of trips can be approximated by normal curves. 68. What proportion of route B trips takes longer than the average route A trip? Answer: 0. 3085 Type: Computation Difficulty: Medium 69. 95% of route A trips take between what two values that are equidistant from the mean? Answer: [180. 8, 259. 2] Type: Computation Difficulty: MediumUse the following to answer questions 70-73: The amount dispensed into bottles by a machine in a ketchup plant is supposed to be normally distributed with a mean of 10 ounces and a standard deviation of 0. 5 ounce. If the machine is working properly, what is the probability that a single bottle chosen at random from the assembly line will have: 70. More than 11 ounces or less than 9. 5 ounces? Answer: 0. 1815 Type: Computation Difficulty: Medium 71. Between 9. 5 and 11 ounces? Answer: 0. 8185 Type: Computation Difficulty: Medium 72. What would you think if a single bottle chosen at random had less than . 5 ounces? Answer: p(x ; 8. 5) = 0. 0013, so we might conclude the machine is operating improperly. Type: Computation Difficulty: Medium 73. Between what two values symmetric about the mean would you expect to find 99% of the bottles filled by the machine, if it is operating properly? Answer: [8. 712, 11. 288] Type: Computation Difficulty: Medium 74. If the contents of bottles coming off a production line are normally distributed with a mean of 16 ounces and a variance of 0. 625, what's the probability of choosing a bottle at random and finding its contents to be less than 15. 1 ounces? Answer: 0. 2676 Type: Com putation Difficulty: Medium 75. A seed packet says that 90% of lettuce seedlings should be between 2 and 2. 5 inches high after 5 weeks. Assuming an average height of 2. 25 inches (and a normal distribution), what's the standard deviation of heights of 5-week-old seedlings? Answer: 0. 1520 Type: Computation Difficulty: Medium Use the following to answer questions 76-78: If the distribution of heights of mature poppy plants is normal, with a mean of 16 inches and a standard deviation of 3 inches, what proportion of the poppies will be: 76.Between 10 and 20 inches? Answer: 0. 8854 Type: Computation Difficulty: Medium 77. Less than 9 inches? Answer: 0. 0099 Type: Computation Difficulty: Medium 78. More than 24 inches? Answer: 0. 0038 Type: Computation Difficulty: Medium 79. You are interested in the incomes of your customers. A random sample of customer incomes yields a mean income of $35,000 with a standard deviation of $4,421. A) Determine what percent of the population would have a salary above $38,000. B) What income range that is symmetric about the mean would include 95% of your customers? Answer:A) 24. 83% have incomes above $35,000. B) 95% of your customers have an income between $26,330 and $43,670. Type: Computation Difficulty: Medium 80. Half of all mutual funds of a particular class charge up-front administration fees. Assuming that a random sample of 60 of these mutual funds is taken, calculate: A) The mean and standard deviation of the normal approximation of the binomial. B) The probability that no more than 40 of the mutual funds sampled charge an up-front administration fee. Answer: A) Mean = 30, standard deviation = 3. 873 B) Prob(# charging fee = 40) = 0. 9966Type: Computation Difficulty: Medium 81. The owner of a 100-room hotel has discovered that his reservations team has booked 110 reservations for an upcoming weekend. Experience has shown that 10% of reservations are â€Å"no shows. † How likely is this hotel to be overbooked (i. e. , have more guests arrive than there are rooms available) for this particular weekend? Answer: 0. 3156 Type: Computation Difficulty: Medium 82. Harry Highroller likes to bet on the roulette wheel when he is in Las Vegas. Roulette wheels in Las Vegas typically have 38 spaces: 18 of them are red; 18 are black; and 2 are green.Harry's â€Å"strategy† is simple: He bets $2 on every spin, he always bets on red, and he always plays exactly 100 spins. If red comes up, Harry wins $2. If either black or green comes up, Harry loses $2. Suppose Harry has decided to play his usual strategy tonight. A) What are the mean and standard deviation of the normal approximation of the binomial in this instance? B) What is the probability that, after 100 plays, Harry will be ahead (i. e. , have more money than he started with)? Answer: A) Mean = 47. 37 and standard deviation = 4. 993 B) 0. 2643 Type: Computation Difficulty: Medium

Who is to blame Essay Example | Topics and Well Written Essays - 1250 words

Who is to blame - Essay Example GMOs are known to increase productivity and this can affect the way people will be able to access the food, both economically and even geographically. In today’s world, food insecurity comes in two folds. First, t has to do with lack of access. A lot of people (about 10% of the total world population) cannot access food because they don’t have food in their geographical location (Young, 2004). This aspect of food security is attributed to logistics that are supposed to help people access food. This happens to people even in the developed world. For instance, in the United States, there are those places which are referred to as food deserts due to the fact that they cannot access food and have to travel far to be able to access the food. GMOs can help to solve the aspect of food insect that is cause by geographical barriers. This is because it GMOs can be produced in region when the normal crops cannot be produced. GMOs are in most cases designed to be draught resistant and pest resistant. Because of this, when a crop is genetically engineered to resist draught and pests, this means that they can be produced when it was once hard to produce them. For instance, the arid and semi arid regions can now be able to produce food using GMOs which are drought resistant. This increases food security both forth actual people who are able involved in producing this food and also for the people who are the end customers such s those living in urban centers. While GMO enthusiasts look at how GMOs will increase food security in the word, those who are against GMOs look on the food safety issues. They believe that GMOs pose a huge threat to food safety. Although food security refers to the availability of food for everyone to cover their daily intake of calories, food safety refers to how consumption friendly food is (Jumba, 2010). While there may be enough food for everybody, it is

U.S. History Essay Example | Topics and Well Written Essays - 750 words

U.S. History - Essay Example In the period after the French and Indian war victories, Britain commanded a lot of respect from many countries. This status was to last for a short while since the influence of Britain to its colonies started to wane afterward due to the heavy debt accumulated over the war. The parliament decided to enact the 1765 stamp act, which required the colonies to pay additional tax on British goods. Resistance and boycott of British goods met this move. The events of April 8, 1775, refer to the ride that Paul Revere went to in order to deliver a message to the people of Boston. This happened just within 10 days after a premature ride to Concord. The objective of the rides was to warn the inhabitants the possibility of an impending war. The legend, however, is in the fact that he covered 13 miles within two hours and gathered the Lexington militia. The fundamental principles of the United States government include self-governance, separation of powers and inherent rights. The self-governance principle is important in that it helps people choose their own president. The idea of separation of powers is in the constitution is to ensure that no specific body controls all the powers; instead, the three branches of the government have checks and balances against each other.The first foreign policy failure of John Adam’s administration was the endeavor to gain Texas from Mexico.The other issue he encountered with his foreign policy attempts was to increase the volume of trade with the West Indies.

Critically analyse the extent to which the courts rely on policy Essay

Critically analyse the extent to which the courts rely on policy considerations when determining international trade cases - Essay Example This aspect has been the most significant hindrance to solving international trade cases. However, with globalization being on the increased, this notion can be easily changed. Major international bodies have come up with common policies, rules and regulation that create equality in the international market. According to Economist1 (2008) equality in the international market can only be achieved through creation of common international trade policies. This move has gone a long way in ensuring even small countries get the maximum market exposure as the market heavyweights. International market policies did not favor such countries. As much as these policies have been formulated, the courts and the judicial systems have the obligation of ensuring that these policies are adhered to. Just like any other court or justice system, the law governing international trade cases has an extent that a court may alter when need be. This has been a source of debate from many analysts who argue that international trade policies should not be altered regardless of the situation in question. Should there be an extent at which a court should adhere to international trade policies? What conditions should a case have in order to have the international laws stretched? What are the positive and negative effects of stretching the international trade polices? . According to Ahn, Fukao & Ito2 (2005) the reliance of the courts to international policies has enabled justice to prevail in the international market. The extent of the court reliance on the international policies is stipulated by the law. These laws are formulated in regards to the norms of the international market. These laws are a formulated by the joint opinion of major financial regions. This enables the laws formulated to be efficient and considerate to all requirements of these zones. After these laws are formulated the courts are given the responsibility of ensuring that the laws are practiced in full force. Major laws an d policies involved in the international market are based on licensing and legality. In licensing the courts only require to adhere to the requirements of the international law. In the international market, licensing involves legalizing business enterprises to export and import goods and services across the globe. Legalizing of business enterprises is based on their mode of operation and organization structure. The operations an organization carries out should be in line with the legal and international market requirements. For instance, the trade of illegal goods is strictly prohibited in all market regions across the globe. In ruling on a case involving the trade of illegal goods, the courts need to pass judgment regarding the requirements of the international policies. However, in this scenario there may exceptions which are due to different policies in different nations. For instance, with the legalization of the marijuana in a state in the United States, international law prohi biting the trade of marijuana should not govern this particular state. In this case, the court is forced to consider the law governing the trade of a particular product in a particular region. It is in such a scenario that the court needs to alter the international trade policies. From this scenario, one could argue that the court may alter the international trade policies to a certain extent. For instance, if two countries in different

Barnes and Noble Company and Amazon.com Essay Example | Topics and Well Written Essays - 2500 words

Barnes and Noble Company and Amazon.com - Essay Example The company branched out to sell E-books. Jeff Bezos persuaded its current and future customers to benefit from the time-saving and travel money-saving benefits of online shopping for Amazon.com products. Management Styles. Both companies implement effective management styles. The Barnes and Noble Company focuses on the consultative management style. The style includes taking into consideration all positive and unfavorable feedbacks and inputs. The inputs include the feedback from the parties. On the other hand, Amazon uses persuasive management style. Management uses persuasion to convince its current and future employees eagerly implement company policies, increasing customer service quality. Product Launch and handling of products and services. Both companies have different product launch versions. The Barnes and Noble Company offers several products in different genres. The products are sold over 800 United States stores. On the other hand, Amazon’s product launch is focus ed on website selling. The company opens its www.amazon.com website to initially sell physical books and other related products. Marketing products and services. Both companies use different marketing strategies. The Barnes and Noble Company sells various products and services in over 800 stores in the 50 states and its website. On the other Amazon.com only uses online selling. The company opens its www.amazon.com website to initially sell physical books and other related products. ... The Amazon.com’s financial statistics show that its revenues better than Barnes and Noble Company’s revenues. Amazon.com’s net income is better than the dismal net loss of Barnes and Noble Company. The sales figure prods investors to funnel their investment in Amazon.com. With more Amazon.com customers, the investors must choose Amazon.com as their investment destination. Amazon’s better implementation of the marketing aspects contributed to its being a market segment standout. Amazon.com sells quality products at reasonable prices. The company promotes its products at the easiest place to buy, the internet. Statistical Comparison                                     Barnes &             Amazon    Noble       Year    2011    2011       Sales $ 57.26 billion $ 7.16 billion       Net Income (net loss) $ 40 million $ (69.44 million)       Market Share    26%    3%       Employees    56,000.00    35,283.00       Stores    1 online    800+       Equipment    No printing Press    Printing Press                         CONCLUSION. It is very clear that Amazon.com’s financial and business performance is higher than Barnes and Noble Company’s business performance. Unquestionably, investors must pick Amazon.com as the better investment destination. MEMORANDUM TO: FROM: DATE: SUBJECT: The following shows the financial analysis of the two competing companies. The two companies are Banes and Noble Company and Amazon.com. Background information. Barnes & Noble. The Barnes and Noble Company generates a profitable background information. Charles Barnes and Clifford Noble, separate bookstore sellers decided to joined hands during the 1800s. The company

Media & the Dispora Essay Example | Topics and Well Written Essays - 500 words

Media & the Dispora - Essay Example Georgiou in the article, â€Å"Identity, space and the media† argues that people through information can decide if to connect or to disconnect with certain individuals or communities in neighbourhoods or in faraway places (Georgiou 31). For example through media, a person living in California can learn of an opportunity in France, which is part of what they have always wished to do in their lifetime. The same media will help the person analyse other aspects that will make them comfortable in pursuing the opportunity. Such may be political environment of the place, Inflation, people friendliness, cost of living and the education system. Secondly, media avails information about politics and cultures of origin, place of settlement, diaspora individuals and groups. Beck argues that this can create critical proximity where they become aware that they are not just a product of their origin. In addition, they do not just belong to a single group, or located in a certain territory and this enables diaspora identity to be lived as multi positioned by symbolic and geographical spaces. Becky also argues that the high mobility as a result causes intermarriages in different countries and cultures, which becomes a gateway to globalisation in once life (Georgiou 31). Diaspora on the other hand has affected media through innovation. Daily interactions with people of different backgrounds, races and cultures have caused innovations in the media industry to cater for various needs of different societies. Reality unveiled through diaspora have helped understand it is not important what is inside a certain group, neither is continuity important but reinvention of limits where human beings find themselves in. therefore, a clear and deep understanding of spaces and diaspora are important in ensuring that people utilise these two constructs for economic, social, and other benefits. We conclude therefore that media and diaspora are inseparable and very

How did African American and Native Americans shape Colonial America Essay

How did African American and Native Americans shape Colonial America and how were they shaped by Colonial America - Essay Example At the same time, with their divergent social and cultural beliefs, the colonial America also contributed immensely in shaping the practises of both the two races. The twenty first century American culture can be highly attributed to the struggle and input of the black and Native Americans. The black Americans received a very hostile reception in which they were treated more like underdogs. They were barred from participating in societal activities, nor even serving in a position of authority above a white American. Random killing by racial groups became an order of the day for the black Americans. However, despite the bleak future that faced them, the African Americans changed the course of their history and that of the continent for good. The fight that the African American embraced enabled them to change from being the American slaves and workers to being the American citizens, this became the basis of democratic struggle in colonial America. Despite of the weaknesses that nature presented them with, the African Americans embody the true struggle of democratic freedom and equality for all Americans (Breen and Innes 74). According to Breen and Innes 77, the eastern shores of Virginia developed during the colonial America because of the black presence. ... son, known mostly as ‘Antony the Negro’ is used by the authors to illustrate the spirit of hard work and struggle that the black Americans cultivated. He had a great ability to interact with other whites setting the pace for cross-cultural relations and friendships (Breen and Innes 74). The notion of more property equals more freedom and power among the American people was also built by these interactions by Antony the Negro. The Native Indian population were subjected to the aggressive rule of the European colonisers. The arrival of the guest from the west meant a complete change of lifestyle and freedom within their society. The Indians were the original farmers in the American continent and this encouraged the Europeans to create agricultural settlements in the continent. As a result, the growth of farming and huge crop plantations in the continent was borrowed from the practises of the native Indians (Richter 84). The development of the slave trade and immigration of the blacks into the American continents traces its roots to the activities and cultures of the Native Americans. As the need for more raw agricultural materials grew, the need for more strong and hardy workers developed. Africans became the only alternative due to their vulnerability and the European invasion at the time. The Indian Americans were also considered weak as compared to the blacks, this is how the native Indians shaped the history of the colonial America (Richter 90). Colonial America was characterised by a number of activities that defined the behaviours of the native and African Americans way of life. The mass movements of the population from the African continent into a new land and life marked transition in the lives of the black Africans. From a completely different cultural

Student Loan Crisis Essay Example | Topics and Well Written Essays - 1000 words - 11

Student Loan Crisis - Essay Example Student loans have become the main source of indebtedness in America. Notably, the U.S government is not doing much in ensuring that students get their degree from college without struggling so much. Personally, I think it is the government’s responsibility to ensure that every American child has an easy access to quality education and this should extends to higher learning. The government should forgive students loans because Americans have a right to achieve their dreams. This paper presents an argument that the U.S government should do more to relieve the student loan burden. Arguably, the U.S government needs to cover tuition payments for students or make higher education free. It should set rules and establish unbreakable laws that enable individuals to obtain the college education. This is necessary because offering free education for students without appropriate conditions will facilitate the emergence of careless generation. That is, if college education is free, there should be fully implemented laws that make it difficult to get college education. For instance, when applying for any major in the University of Kuwait, GPA must be more than 2.50. More so, when applying for government scholarship, GPA above 3.00 is needed. Apart from these strict rules, there is a warning for students in the scholarship program if they get GPA below 2.00, and after getting many warnings during college, the student is suspended and must pay the government all the college costs. Indeed, such rules motivate the students to study harder and try their best to graduate suc cessfully so as to avoid the consequences of these rules. Therefore, the U.S government should establish rules that ensure that students take their studies serious. Moreover, the government should give students free interest loans to enable them overcome struggles they face during loan repayment.  That is, it should help American students to get loans to pay their tuition fees with no benefits. This will make it easier for college graduates to pay back their loan and escape the loan burden. After college, it is very hard to get a good paying job immediately they finish college as most of them are graduating from college into the worst jobs and they have records of student debt, and this makes it hard for them to pay their debts in a shorter time (Jackson).  

Personal statement Essay Example | Topics and Well Written Essays - 500 words - 36

Personal statement - Essay Example After I completed my bachelor’s degree I immediately entered the workforce. I have had three jobs since then. I worked at the ELS language center as a customer service representative. At that job I learned that the customer is the most important stakeholder group for companies. My verbal communication skills improve a lot by working at this firm. I also worked at ARC Company as an administrative officer in the human resource department. This job was very challenging, but I liked working under pressure. I learned the importance of being organized and that working with others in harmony can help increase the productivity of a company. I’m currently working at Saudi Radwa Food Company as a personal administrative officer. I like working at this firm because the lines of communication are always open between the employees and the management team. I know that it is important for professionals to speak more than one language. In order to improve my English I successfully complete an eight month course in Nottingham Trent International College. I speak good English and Arabic. I have reached a point in my life in which I have realized that I need to pursue a master degree. I am interested in becoming a graduate student seeking a masters’ degree in health administration. Health administration is a booming field that provides lots of job opportunities. During 2010 I trained in a hospital laboratory for five weeks. I want to work in the health care industry once I complete a masters’ in health administration with my end state goal being becoming a hospital director. I am an excellent candidate to enter a masters’ program in health administration due to my educational background and job experience. I am extremely motivated to start graduate studies because I want to obtain advance knowledge that I can use to improve in the workplace. I am an outgoing person that knows how to motive others to

Family Interview project Essay Example | Topics and Well Written Essays - 750 words

Family Interview project - Essay Example The eldest son is going to a preparatory school, the youngest is just a year and a half old. They are living in a middle-class subdivision. The relationship of the father between the two children is not any different with each other. He treats the eldest the same way he treats the youngest though he and the eldest son know that he is a stepdad. It has not been very difficult for them to establish a relationship since the eldest son was just young and there is no other prominent father figure present in his life. Their family is a picture of a happy one. Though there are the normal arguments and discussions between the couple and the between parent and child, there isn’t any inkling, if you’re a stranger looking at them, that they are a remarried family. The mother transitioned from being a single parent to a remarried parent. She has been a single parent for two years before she remarried and introduced her new husband to their family. Being a single parent, I was able to identify with her since I am mothering two children alone. This became the focus of our conversation, wherein she told me stories of the difficulties and perks of being a single parent and a remarried parent. It wasn’t that hard to introduce the new father since there was no prominent father figure prior him. The hard part was her adjustment to a new life with a man leading the house since she was used to being the head of the family. The once â€Å"her rules† became â€Å"his rules† or â€Å"his and her rules.† Eventually though, since her firstborn, being very young, easily adapted to situation, she was able to adapt to fairly quick. She is glad, she says, that she has found a partner that can help her raise her children and help them development mentally and socially since being alone sometimes gets too stressful because she has no one to share the tasks and responsibilities with. From a single parent family,

The differences between primary school in England and Saudi Arabia Essay

The differences between primary school in England and Saudi Arabia - Essay Example The extent to which the models and theories of education build experience for children has elicited interests among the researchers. The systems of education in Saudi Arabia and England offer different levels of experience because educators in both countries adopt different models of educational transmission. Experience constitutes the aspects of intellect and consciousness, which children acquire when they undergo learning processes. They constitute a combination of thought processes, emotion, will, perception and imagination (Rowe, Herrera, Hughes, & Cawley, 2012). The models used by teachers to transmit knowledge to primary school children largely determine the extent to which learners acquire desirable experiences in education. Superior experience refers to the ability of one education system having a higher potential to enhance children’s learning than the other system. Models of educating children are characterised by diverse features and are applicable in different contexts. Factors that lead to superior experience include the educations system of a country, the content of the curriculum, and learners’ autonomy; further details concerning these factors are discussed in the analysis part. Models that promote superior experience enhance development of children across all spectrum of life including economic, social, and political aspects (Bloxham & Boyd, 2012). Superior experience is achieved through educators and curriculum developers focusing on all dimensions of Bloom’s taxonomic units when developing and executing the curriculum. Bloom’s taxonomy consists of cognitive domain, affective domain and psychomotor domain. Additionally, superior experience results from having courses developed by educators who understand the reality of primary classrooms (Schneider, 2013). Experienced educators have the potential for reviewing and updating courses regularly to ensure activities,

Nursing Assignment Example | Topics and Well Written Essays - 500 words - 4

Nursing - Assignment Example ntage of SOAP is that there is documentation which ensures communication among different health professionals that may be involved in treatment of that patient. This will prevent any misdiagnosis which may be blamed on one health worker only and which may lead to that health worker being sued. In case of anything going wrong for the patient, all the health workers who were involved and integrated by the SOAP will be in trouble but that is rarely the case. The other legal advantage of a SOAP documentation system is that since the documentation is in note form, the progress notes and all other information appear on one page and hence no chances of ignoring part of the notes or not seeing all the notes as a result of missing pages as is common with other traditional documentation systems (Iyer, et al. 2006). This will ensure that non maleficence and beneficence are promoted as no information which may cause harm to the patient will be left without being addressed. This documentation system however has disadvantages too. One of the disadvantages is that every diagnosis is recorded in a different SOAP and this result to redundancy of the work. This may lead to some health workers failing to record all the information which legally amounts to neglect which may cause harm and also ignore the non maleficence code hence charges can be pressed for such a health worker. This is the commonly used documentation system where the patient’s care and treatment information is recorded chronologically over the duration the patient is in hospital or in a health facility (Iyer, et al. 2006). One of its main legal advantages is that it is useful in emergency situations to quickly collect information of patient’s health and treatment interventions necessary. In case anything fails to be recorded or is misreported at that time, the health worker has legal protection as it was an emergency which is allowed by law. Traditional narrative is the system that most health workers are

Employee competence & reward strategys - Read the provided case study Essay

Employee competence & reward strategys - Read the provided case study on UtilityCo then answer the questions set out in the Project Outline document - Essay Example An individual can be said to be competent if he possesses the skills, knowledge and abilities that are necessary to perform a particular task that the individual is given the responsibility of. With such a combination of traits, a person can be able to competently perform a task in any given situation or a working environment. In the same respect, one may lose competency without losing the skills, abilities or knowledge if the requirements for executing a particular task changes or the working conditions changes (Dickmann, 2008). Competency is also used as a general term when the requirements of people in communities and organizations whereby there are requirements for the people to perform various tasks for the community or organization. These can be described by the various requirements that organizations have put in a particular language for the employees to be considered competent or what educational institutes have put in a specific language for the students to graduate from them. One of the most important aspects of this kind of competence is that it has to be an action competence and this means that the people must show their competence in action (Armstrong, 1999). As far as human resources are concerned, it is more significant to have competence development policies especially for some general competences that an organization is dependent on to run its business. The general competences can be classified into levels and they include the novice whereby a person who can be classified as a novice has the behavior based on the rules of the organization and is very inflexible as well as very limited. The next level is the experienced beginner whereby this employee has the ability to incorporate aspects from a given situation. The third level is the practitioner who is capable of acting consciously in relation to any long term plans and

Strategic management (organisational structure) Essay

Strategic management (organisational structure) - Essay Example These include the entrepreneurial simple structure, the functional specialization structure, the divisional structure, and the conglomerate structure. The entrepreneurial structure is tagged by Mintzberg as being the 'simple structure.' According to Eltern, Schwestern, and Steffen, "The simple structure is characterized, above all by what it is not - elaborated. Typically, it has little or no technostructure, few support staffers, a loose division of labor, minimal differentiation among its units, and a small managerial hierarchy. Little of its behavior is formalized, and makes minimal use of planning, training and the liaison devices. It is above all, organic. In a sense, simple structure is nonstructure" (2005, p. 1). Functional organizations are effective in minimizing activities that are repetitive in nature. They also encourage the recruitment and development of technical expertise throughout the organization. However, they are hard to organize and coordinate and result in the development of perspectives that are considered to be too narrow in nature (Tripp, Siwapiragam, Rahim, Horton 2005). Divisional organizations also have their own distinctive advantages and disadvantages. These types of organizations are able to make better decisions because of the very way they are set up. Those who work for or represent the company are held accountable for their actions and their performance. This type of organization, as opposed to functional organizations, is significantly easier to coordinate functions within. Drawbacks to the divisional organization include the fact that it is difficult to gain and allocate support from corporate staff, some economies of scale is lost, and divisions have a tendency to compete with one another which can be detrimental to the organization (Tripp, Siwapiragam, Rahim, Horton 2005). Conglomerate structures represent a combination of the aforementioned organizational structures. These are also known as matrix structures. Advantages to this type of organization include that technical expertise is encouraged, reinforced, and broadened; resources are utilized in an efficient manner; and that objectives that may be causing conflict within the organization are balanced. Disadvantages to this type of organization include an increase in power conflicts, confusion, and stress for those employees who have more than one supervisor, and that it can hinder the decision-making process that takes place within the organization (Tripp, Siwapiragam, Rahim, Horton 2005). Reebok and Starbucks and Their Appreciated Structures According to Reebok, "During this past quarter, we decided to consolidate our Reebok Brand product and marketing groups under one leader. We believe that the new organizational structure will give us greater focus on product and marketing concepts for our targeted consumer groups. The new product teams are fully integrated from design and development through to marketing, and support our product initiatives under the Rbk, Performance, Lifestyle and Children's platforms. These teams will now design and develop product and marketing concepts for a focused consumer segment, rather than by product category as we had in the past" (Reebok 2005). They believe that their new structure is more focused and responsible, and that it can better meet the demands of consumers who come from a variety of different

Online education vs traditional education Essay Example for Free

Online education vs traditional education Essay For hundreds of years we have been teaching traditionally to children with varying results, in the last two decades with the growing technology a new form of education has formed, online education. With high school being a pivotal time in teenagers life parents and educators have questioned is online education better for students over traditional methods. In the search to figure out which is better people have gathered evidence involving studies, polls, and research on the effect online education has on students. My first source used is written by Dan Lips, an article called â€Å"How Online Learning Is Revolutionizing K-12 Education and Benefiting Students† for the Heritage Foundation. The author’s tone is formal and persuasive. In the article he uses evidence such as facts, studies, and polls to persuade the readers to see the greatness of virtual education. Dan Lips uses high profile people who wrote books on virtual learning to increase credibility to his claim. The second source, â€Å"Students frustrations with a Web-based distance education course† by Noriko Hara and Rob Kling published in the online journal First Monday. This is an article based on the study the authors did on how students felt enrolled in an online class in college. While this is an article based on the feelings of college students this applies to the high school online education as they base high school online education on college online education so they are going to run into the same problems. The authors of this article were neutral to the study and were just reporting what was wrong with distance learning so as not to bias the results, and to get how the teacher and students feel about online learning. The authors use this article to caution students, teachers, and schools on some of the things wrong with online education and to not ignore the bad sides of online education because of mostly praise towards it. My last source is â€Å"Online High Schools Test Students Social Skills† by Paul Glader investigates the impact of online education on teens socially. Glader found that students enrolled in online high school often drop out due to the fact of them feeling lonely. The online high schools are trying to find ways to make teens spend time together in the virtual classrooms. High school is a pivotal time in everyone’s life that can shape your future.

The effects of tourism on culture and the environment in asia and the pacific Essay Example for Free

The effects of tourism on culture and the environment in asia and the pacific Essay INTRODUCTION AsiaPacific or AsiaPacific is the part of the world in or near the Western Pacific Ocean. The region varies in size depending on context, but it typically includes at least much of East Asia, Southeast Asia, and Oceania. The Asia-Pacific region covers a wide geographical area, with diverse landscapes, climates, societies, cultures, religions, and economies. More than half of the world’s population lives in this region, of which close to half live on less than a dollar per day. Hence, the region contains the worlds largest number of people living in poverty. Asia-Pacific region generally includes: Australia, Brunei, Cambodia, Peoples Republic of China, Hong Kong, Macau, Fiji, Indonesia, Japan Kiribati, North Korea, South Korea, Laos, Malaysia, Marshall Islands, Federated States of Micronesia, Nauru, New Zealand, Palau, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Thailand, Timor-Leste, Tonga Republic of China (Taiwan), Tuvalu, Vanuatu, Vietnam, United States Territories American Samoa, Guam, Northern Mariana Islands, Sometimes included India (member of the East Asia Summit), Mongolia (landlocked country in East Asia), Myanmar (Burma) (member of the ASEAN), Russia (the Russian Far East borders the Pacific Ocean). With its diversity as an asset, the region has enjoyed remarkable economic growth  in the last four decades. Several countries are experiencing rapid changes in economic development, population growth and urbanization, social transformation, and technological development, and these countries share common economic drivers. The expanding economy in Asia and the Pacific has brought about increased interdependence among the countries in terms of natural resources, finance, and trade. The economic expansion and population growth in Asia-Pacific over the last 40 years was underpinned by the region’s rich natural environment. The tourism sector in Asia and the Pacific is thriving, with the region accounting for 22% of inbound tourism arrivals in 2010. Noticeably, in 2010, China placed third in inbound tourism arrivals and fourth in inbound tourism expenditure in the world. In 2010, international tourism recovered more strongly than expected from the shock it had suffered in 2009 from economic recession and the global financial crisis. The estimated worldwide number of inbound tourism arrivals in 2010 was 940 million, up 6.6% over 2009 and 2.5% more than the pre-crisis peak in 2008. While some destinations are still struggling to come out of the crisis, the tourism sector in Asia and the Pacific has been buoyant. The Asia-Pacific region had an increase in inbound tourism arrivals of 13% between 2009 and 2010, making the region a leader in the global recovery of tourism. In comparison with other regions across the globe, Asia and the Pacific had the second highest growth in inbound tourism arrivals in 2010 over 2009. The Middle East was the fastest growing region (up 14.1%) in 2010, following a significant drop (of 4.3%) in 2009; As ia and the Pacific posted only a modest drop of 1.7% in 2009. Inbound tourism arrivals were up 7.3% in Africa, followed by Americas (up 6.6%) and Europe (up 3.3%). In 2009, Africa was the only region where inbound tourism arrivals increased (by 4%). In Asia and the Pacific, for the first time ever, inbound tourism arrivals surpassed 200 million in 2010. Overall, the Asia-Pacific regional share of world arrivals rose by 1.2 percentage points in 2010, for a 22% share among the world’s regions. The successful marketing stories of India and Malaysia, the massive rail expansion in China, the new resort developments in Singapore and Macao, China and the revitalized policy of Japan towards tourism, as well as the â€Å"visit year† campaigns in Bangladesh, Nepal and Sri Lanka, have helped buoy Asia-Pacific tourism. ASEAN has also adopted a long-term tourism strategy to help the development of the tourism  sector in the sub region. Tourism plays a very important role on a society because it is an aid to gain more income and to place many job opportunities to jobless individuals. Tourism therefore became the major income generator on the regions of Asia and the Pacific. STATEMENT OF THE PROBLEM The problems stated in this research paper are the following: 1. Why the tourism industry trends much on the Asia-Pacific region? 2. What is the role of tourism on the economy of the region? 3. What are the positive and negative effects of tourism on culture and environment? 4. How does tourism affect livelihood on the region? 5. What is the significance of tourism on a country? OBJECTIVES OF THE STUDY The main objective of the study is to gain an understanding of the nature of the effects of tourism on the local culture, environment and economy. The study purports: 1. To review the existing literature on tourism with an emphasis on the government policy and the present infrastructure of tourism; 2. To create a typology of tourism sites based on their similarities and difference; 3. To carry out in-depth case studies of two locations and to determine the impact of tourism on the people inhabiting those locations. 4. To come up with an answer and a solution regarding the problems that may arise in the particular event. 5. To increase the number of tourist arrivals. 6. To promote the environment, historical and cultural heritage and raise the quality of services and facilities related to tourism. 7. To develop the necessary infrastructure for the operation of efficient, safe, comfortable, and quality air services for the proper advancement of the tourism industry. 8. To gain more knowledge about the topic. SIGNIFICANCE OF THE STUDY This research is conducted for the researchers to gain more knowledge and to share to others what the ideas that they have gathered. The importance of this study is that we could gain more knowledge and understanding about the said topic. As citizens, it is our right to deeper our understanding on what is the connections of those things regarding on our daily life and activities. This is also intended to make everyone aware of the events that might go to happen regarding the subject, so that they will find also an easy way to go through it and synchronize them for a better environment adaptation. SCOPE AND DELIMITATIONS The Effects of Tourism on the Culture and Environment in Asia and the Pacific is a research paper project which deals about the major issues regarding how tourism will affect the culture and environment of a specific region which includes its significance and the solutions regarding the problem. This study only covers on how tourism affects the regions of Asia and the Pacific regarding in the means of culture, tradition and environment. The study is largely based on secondary information. Therefore it is difficult to quantify the impact of tourism on the culture and environment. Though there have been numerous studies related to tourism, these studies pertain to specific locations, which are not representative of the region as a whole. Since interviewing the respondents was not based on any scientific sample surveys, the results do not correlate directly to the inferences which are drawn from the sample surveys. The study is conducted by the research team at the College of Communication, Information Technology, Calamba, Misamis Occidental.

A Hostel Management System

A Hostel Management System Introduction INTI International University (IIU) is a private university located in Putra Nilai, Negeri Sembilan, Malaysia. It was previously known as INTI University College. INTI has grown monumentally over the years until 31 May 2010 when the Higher Education Ministry announced it has became the university status. (Wikipedia, 2010) In 1986, INTI opened its first college at Bangunan Sim Lim brickfields, Kuala Lumpur. It starts with only 37 students on it first enrollment. In 1989 the College was re-located to Jalan Sungai Besi, Kuala Lumpur. As the number of students continued rising, the INTI established a permanent campus in Subang jaya (INTI College Subang Jaya) and more campuses began built in Kuching, Sarawak, Kota Kinabalu and then Sabah. The main campus (INTI UNIVESITY COLLEGE) was completed 1998 in Putra Nilai. INTI has a total 9 campuses in Malaysia. INTI became part of Laureate International Universities (LIU) network in 2008 becoming the first Malaysian University to be chosen by the Laureate International Education Group. (New INTI, 2009) Nowadays, with the emergence of global economy and transformation of industrial economies, the information system and information technology become important within the business sector as the world keep changing with fast developed technology. Information technology and internet-based information systems are playing vital and expanding roles in business. IS can help all kinds of businesses improve the efficiency and effectively of their daily work and workplace collaboration. Information system and information technology are quite a necessary ingredient for business success in todays dynamic global environment. Besides, information system and information technology also applied by the education industry to conduct more of their work electronically. There is a need for the education institutions to apply the information system and information technology in their daily work to improve the workflows and reduce workloads. So, we would like to conduct a research of INTI International University Literature Review Hostel Management System As the topic mentions above Hostel Management System is software that is developed to help in managing various activities in the hostel. As is well-known, the education institutions are rapidly increasing for the past few years. Therefore, it leads to mushrooming of hostels for the accommodation of the students study in these institutions. And hence there is the appearance of Hostel Management System which helps with dealing the problem of managing hostel and avoid the problem when do it manually. (Muhammed Shaheer .K.A, Muhammed Shiras.A, Vinod Raj. R, Prasobh.G.V, April, 2009) Hostel management by manual way is tedious process, since it involves work load and time consumption. In this system, we can easily manage the hostel details, room details, student records, mess expenditure, mess bill calculation, easy way of room allocation and hostel attendance. Thus, there are a lot of repetition can be easily evaded which has reduced the data redundancy. (M. Deepika, A. Chitra, 2010) Reports in regard to the Room Availability, Room Allocation, Student Transfer and Evacuation are provided too. Functional Feature: Creation of Building and Block information. Provision of various room types (Single / Twin/Single with Air-con Room/Twin with Air-con Room). Room allotment to the student. Student checks in and check out. Monitoring Visitors and Guest register. Transfer of rooms. Room evacuation. (Hostel Management System, 2006) The Administrator can: 1. Allot different students to the different hostels. 2. Vacate the students for the hostels. 3. Control the status of the fee payment. 4. Edit the details of the students modify the student records. 1) Allotment of the hostels The officer must checks the certified application forms of the students obtained and verify it with the student database. If the students are found eligible then they are allotted to the hostel. 2) Vacating the room As the students course is over they will vacate their rooms. So it is required for the administrator to remove their records from the database tables. This part includes the option for the room vacation and the deletion of the particular record from the database. 3) Control status of fee payment As the students every semester need to make rent payment. So, the officer needs to process it and print out the invoice for students to pay rental in finance office. 4) Edit the details of students and modify the student records As the new student moves into hostel, the officer need edit the details of students and modifies the student records to make sure the data is updated. (Muhammed Shaheer .K.A, Muhammed Shiras.A, Vinod Raj. R, Prasobh.G.V, April, 2009) We can improve the efficiency of the system, thus overcome the drawbacks of Less human error Strength and strain of manual labor can be reduced Reduce data redundancy High security Data consistency Easy to handle Easy data updating Easy record keeping Backup data can be easily generated Figure 1: General functions of the Hostel Management System (HMS) (Hostel Management System, 2009) Library Management System Library Management System is an enterprise resource planning system for a library, used to track items owned, orders made, bills paid, and patrons who have borrowed. A library Management System has a relational database, software to support the database, and two graphical user interfaces. The system separate software functions into discrete programs which call modules. Example like: Acquisitions ordering, receiving, and invoicing material Cataloging classifying and indexing material Circulation lending materials to patrons and receiving them back Serials tracking magazine and newspaper holding OPAC public interface for users (Wikipedia,2010) Library Management System is small footprint software suitable for personal or individual libraries. It provides many functions to the users the control the flow of the library. Such as : Control the movement of books and other material and avoid loosing the same. Search if you have a specific book in your collection based on the title, author etc. Print the spine labels for the book. Find what a specific person has borrowed from you (Azhar Hussain, 2009) By development of the Library Management System help the librarians to manage the library well. It record clearly the transactions of the books daily of the library. These make the insurance of the book become higher. It is not easier to happen lost of books in the library anymore. E-library is also a part of the Library Management System. E-library system is a type of service which allows the users without stepping into the library, to read the books and conduct research at home, in the office, or at school, using the Internet. Service which enables users to effectively employ electronic data by using an in-library network .This is a new library service that applies rapidly advancing data processing technology and networking technology, and it is expected to become a highly convenient, epoch-making mode of service. (National Diet Library, 2010) E-library performs well. It features such as: Member features Search system which allows the users to search the book by typing the key words or author of the book. Book features Category management which allows librarians to add, modify, and remove categories form library resources database. Book borrow Return Check in features Booking management which allows the users to reserve library resources item. Report features Book borrow / return Analysis Report which view information about the real time analysis report. Miscellaneous Site Information which provide a simple site map and let people easy to access. (E-library system,2008) By the development of the E-library system, it provides both convenience between users and librarians. Users can check the book online by not stepping into the library. Users can also booking the book online. These save the time for the users. For librarians, it is easy to manage the category of the book and control the movement of the books. It brings the librarians an easy work. Figures 2 General function of the Library Management System (Library Management System, 2009) Analysis of the Company INTI International University Accommodation Office System: Hostel Management System (HMS) University background, history nature of business INTI International University (IIU) is an education institution that has been rapidly improving for the past few years. As the fast increasing student numbers, therefore, to accommodate part of the students studying in the institution, the INTI International University has had to build up more hostels in the campus. INTI International University, Nilai campus got 16 Halls of Residence named after great men who have contributed to the well-being of mankind. All these hostels at present are manage by the accommodation office. Internet connection, Wi-Fi, Resident Fellow, security, facilities and convenient stores are some of the facilities provided for the convenient of the students. Coin-operated washing machines and dryers are also available is every hall of residents. The INTI hostels have provided many kinds of room such as Single, Twin-sharing, Single with air-con and Twin with air-con. (New INTI, 2009) As is well known, the education institutions are rapidly increasing for the past few years. Therefore, it leads to mushrooming of hostels for the residence of the students who study in these institutions. As the world keep changing with the fast developed information system and information technology, there is a need for the education institutions to apply the information system and information technology in their daily work to improve the workflows and reduce workloads. Hence, there is system appears in managing hostels to avoid the problem when do it manually. System Development The Accommodation Office currently uses the system which is called Hostel Management System (HMS). This system is software that is being developed to help officers who work in accommodation office in managing various kinds of activities in the hostels. Hostel Management System (HMS) is one of the modules of the Total Campus Management System (TCMS). Unlike the Integrated Library Management Utility (ILMU), HMS is only a module. ILMU is a unique system that management the whole library which is same as the TCMS. TCMS is comprehensive workflow management systems that integrate and manage all key function of work progress. It increases the productivity with real time communication between the front office, administrators, and management. It consist reporting, accounting, financing, examination grade, etc. Hostel Module Hostel management module has features of efficiently and effectively managing the entire residential facility in the institute. It has reducing the staff paper works and improved workflows. This hostel module will keep the updated records of students, lodging, transfer room and other facilities. Hostel Management System (HMS) is a system which helps in managing various activities in the hostel. According to Miss Azlinda Binti Alias (Officer Accommodation Office), the previous system used in INTI is called Room Master. The older systems (Room Master) only perform three single functions for the hostel. That is check-out, check-in and booking. It didnt help the staff very much in the hostel. Many works that also need to do manually by the staff. It required more strength and strain of manual labor needed. For example, the staffs need to go to the finance office to get the list of students who enroll for the semester in order to do the check-in for them. It is because of lacking of data-sharing and availability between finance office and accommodation office. In the previous system, staffs in accommodation office need to record all kind of transactions and processes manually which involves more man power. There are many paper works and duplicate task in data entry. It is difficu lt to handle and store the data. Besides, there is also difficult to update the data while there is always got students move in and move out every semester. With the help of computerized information system, it can reduce the human errors. With the new system, it brings many conveniences to the staff. Thus, it has improving their efficiency and productivity in works. As the mention in above, Hostel Management System (HMS) is a sub module of the Total Campus Management System (TCMS). TCMS has improved communication and data-sharing between the departments in a collaborative environment. There is a link between HMS and TCMS which enable the staff in Accommodation office can access the information needed from the finance office. Yet, TCMS also control the access to data and information based on user roles which means that there is a control over information each user can view or edit. Staffs do not need like before do their work manually. Hostel Management System has helped the accommodation office in saving the human resource as compared to the previous system (Room Master). All the edited information or updated information will show in the HMS immediately. HMS has provides the best service to the accommodation office in managing daily workflows. Through the implementation of Hostel Management System, it has replacing manual system where it able the staff to complete the work more efficient and effectively. The system has helped in managing any problem occurring within the hostel accommodation and avoiding any problem when keying in the detail manually. Therefore, through the usage of this system, they can easily manage the room details, student records, room vacancy details, mess bill calculation, mess expenditure, allocation of room and hostel attendances. Besides, repetition can be easily avoided. It also has reduced that data redundancy and any inconsistency of data. The accommodation office uses Hostel Management System to key in all the details of the students who are staying in the hostels. This system is mainly used to do room bookings, check in and check out of the students and also the payment for the accommodation. Reports in regard to the room allocation, room availability, student transfer and evacuation are provided too. System Functions: Hostel Management System (HMS) has several functions which enable the staffs from accommodation office such as allocate students to the different hostels, reserve the room for the students, control status of rental payment and edit the details of the students modify the student records. Allocating students to the hostels The officers must check the details in an application form of the students and verify it from database to match the application of students. Therefore, when the students are eligible then they are allocated to the hostel. The officers will also allocate the room according the requirements of the students as there are different types of rooms are available. Vacating the room As the students have completed their course In INTI, they will be graduated and vacant their rooms. When the students vacant their room, the officer needs to check whether the room facilities have missing or broken down. If all facilities are completed, accommodation office will return the deposits to the students. Thus, the officers in accommodation office will have to remove the particular student details and records from the student database. This is to ensure there will not be the problem exists when the existing residents records coincide with previous residents. Control status of rental payment Every student who stays in the hostel has to make a rental payment every semester. The rental payment varies by the types of room available. As the students who need to book the rooms every semester, they need to pass up a form and get the invoice from the accommodation office. The officers need to key in details of the students as well as type of room that the student want, the system will eventually know how much the students has to pay for that particular semester for their chosen room. Lastly, the officer needs to process it and print out the invoice for the students to make their payments at the Finance Office. There is a link between the system of Finance Office and Hostel Management System. Besides, officers are also able to check any outstanding payments which have not been made by the students through the processing of the system. Editing the details of the student and modifying the students records As there are new students move into the hostels, they need to register themselves as a residents of the hostels. The officers need to key in the details of the new students who want to move in into the database. Therefore, the officers have to edit the details of the students and modify the student records to ensure the data is updated. Besides, this system also enable staffs of accommodation office to check whether the student have done their room booking or rental payments, it can also check whether if the students are staying in the hostels or not, and it can retrieve records of where the students have stayed before. Maintenance Maintenance of the Hostel Management System (HMS) will only do when the system facing the problem. The systems no need to have a check annually or quarterly. According to the officer of the Accommodation Office Azlinda Binti Alias, she says the system is not facing any serious problem until now. Regardless to the update, the system will have update when the Hostel Management System (HMS) doesnt meet the requirement of the Total Campus Management System (TCMS). In this point, Information System Office (INSO) Information Technology Centre (INTC) which is from the INTI International University departments will handle this update. The staff of the Accommodation Office only is the end user of the system. They dun know about the technical problem of the system. The entire problem will pass to INSO INTC to handle. Problem that Hostel Management System(HMS) having Future Plan There is a problem that Hostel Management System (HMS) is having. From the interview, we know that when the Total Campus Management System (TCMS) is giving a huge amount of staff is using, HMS will be affected. Example like, when the TCMS is jamming because of many people is using its, HMS cant send or received the information from the TCMS. The staffs have to wait the TCMS recover only they can do their works. Future plan of the Accommodation Office is to create an E-service for the residents of the hostel. The E-services will provide residents an on-line booking room functions. Residents do not need like before do their room booking manually. But due to some problem they are considering, the panning is still waiting to approve. The problem they are considering have many, one of them is they are considering that now a day residents computer skill is very good. They finding a good security for the E-services to provide the system will be hack by the residents. INTI International University Library System: Integrated Management System Utility (ILMU) University background, history nature of business Tan Sri Abdul Majid Library was established in April 1998 with the opening of the INTI International University, Nilai campus. It has grown and developed over the years and now is located at the universitys new wing known as the Learning Resource Center. The Library serves a growing academic community, at present some of 6,000 members, who are mainly staff and students of INTI International University. The Library currently has a collection of approximately 90,000 items comprising of materials in various formats such as monographs, serials and multimedia. The INTI International University Library, standing as the heart of the campus, will continue to develop into a dynamic resource center by providing the intellectual needs for its academic community. (TSAM Library, 2009) Libraries have traditionally played a role of physical store or housing print materials. The accessibility of the web has seen shift the position of library. Records describing local print materials now sit side by side with records providing links to external web resources. Nowadays, the world keep changing with fast developed technologies, people are more easily to access information online. The scope of what a library system describes has broadened in a way with exceeding the expectations of its digitally-literate end-users. Libraries are constrained in the amount of investment they can make on new systems. The role and function of the library are changing and developing, especially in relation to the provision for collection and circulation, resource discovery, ownership and control, and access to resources. Enhancing usability and accessibility for an increasingly diverse user community is important for library. It demonstrates clearly that how the growth of system developments to deal with the changes of electronic information and its impact on information. System Development The INTI library currently uses the system that is calling Integrated Library Management Utility (ILMU). This system helps library in managing daily operation that has reduced librarians daily workloads. Before applying ILMU, all works and processes were done by manually which is wasting times and resources. According to Puan Hafsah Zainuddin( Chief Library), during that time, INTI is small institution, the capital is no enough, people who work in library had to record purchasing, collection, borrowing, returning matter by manually and key into system which is wasting time and inconveniently. It causes the problem of when managing data which is massive as u can image with thousands collection which need to be done manually. There is also causing the existence of human error which we cannot avoid but we also cannot say that with the use of system this problem can be solved. There is why library investing in Integrated Library Management System Utility (ILMU) which has helped in reducing workflow and improve efficiency and providing convenience to both librarians and users of it. It record clearly the transactions of the books daily of the library. The Integrated Library Management Utility (ILMU) is a kind of Library Management System with the characteristic of having a relational database, software to support the database, and two graphical user interfaces. Its key value to library is its ability to offer a catalogue and to manage workflows. It is also seen as the most cost effective way to handle infrastructure tasks such as acquisitions, cataloguing and circulation. ILMU have developed in association to technical advances and user requirements, mainly in developing electronic interfaces, refining standards and access protocols, purchasing and acquisition processes and cataloguing systems. System Functions The system separate software functions into discrete programs which call modules like Circulation Module, Cataloguing Module, Acquisitions Module, Serials Module and Reporting Module. Circulation The Circulation Module enables the library in controlling inventory, managing patron information, payments, and circulation transactions (borrowing and returning). The module has a feature that user-friendly structure that includes customizable menus and mnemonic keys for quick access to frequently used functions. Cataloguing The Cataloguing Module has a feature that a graphical text editor, classifying and indexing material, bibliographic file management en powerful tools to handle bibliographic descriptions. In the modules data dictionary, the library can also define other formats in order to provide access to multiple databases. Acquisitions The Acquisitions Module enables the library to fully manage the ordering process with completely integrated with the other V-smart modules. The Acquisitions Module has a characteristic of broad fund management and control functionalities, flexible print options, multiple order types, receiving and invoicing materials. Serials The Serials Module is linked directly to the Acquisitions Module for the library to manage all financial aspects of serials orders and subscriptions (journals, newspapers, bulletin and magazine). The Serials Module is use to monitor monthly transactions- the flow of journals, payments and record. Yet, there is a little of serials in library because of the availability of journals online that can help INTI library to save the cost of buying it. Reporting The Reporting Module can generate the standard reports and flexible output options. The library can directly obtain system information such as collection details and financial data. The reports such like number of hold placed, number of hold filled, bibliographic records with holds, items-level holds, missing items, the volume of material in a given library at any point in time, based on new acquisitions, items on the shelf, and items out in circulation, with the ability to break down volume in categories. E-Services Support Systems E-Services Support Systems provides users check and access information about the collection themselves easily and conveniently with electronic information environment .via the Online Public Access Catalog (OPAC) also available in the library for users to search for any library items on the shelves which has reduced the work of librarians that have to deal with the inquiries of books by students. Renewal and reservation can be made online through OPAC/Web OPAC and at the circulation counter. Diagram shows that the module of the Integrated Library Utility System (ILMU) . INTI University Library follows the Library of Congress system of Classification. The classification is as follows: Class Letter Main Class A General Works B Philosophy, Religion, Psychology C Auxiliary Sciences of History D History (General) and History of Europe EF History: America G Geography, Anthropology, Recreation H Social Sciences J Political Sciences K Law L Education M Music and Books on Music N Fine Arts P Language and Literature Q Science R Medicine S Agriculture T Technology U Military Science V Naval science Z Bibliography, Library Science, Information Resources (General) Maintainence of The System The maintainence of the library system will do every quartery a year. The maintanence of the system can devided to three stages : 1st stages- Under this stages, the librarians will fixed the system theirselves. They will check the system performance and solve the problem when it happen system error. 2nd stages- At this stages, the problems cant solve by the librarians. They will contact to the company, and the staff of the company will give instuctions to the librarians to solve the problems. 3rd stages- In this stages, the may have a serious problems occur by the system. The staff of the company will come to INTI library and solve the problems. Besides that, the library system also need to updated. The company will help the INTI library update the system. All updated data are free in charge. With the system updated, the company also provide a traning program to the librarians in order to learn how to use the updated system. They will anually send a schedule to the INTI library to inform they when to go for the training. Beside update, the company will also introduce some new module to INTI library. Then the chief of the library will make a decission wheter to buy the module or not. During the interview, the chief have mention that she trying to adopt a new module to the library. The new module functions self-service borrow book. Student can borrow the book through the system without go to the counter. The destination is to reduce the staff worker in the library to reduce the cost. E-library E-library system is the most current system that INTI library is using. The system is only allows in the campus. If the student use this system in their home or outside this campus, they will not able to sign in this pages. The aim is to prevent the public hack into the system. There are no securities in this system. Anyone from outside who get the account of the INTI student would able to log in to the system and borrow the book.The system provide many function which it is all link to the Integrated Library Management Utility system ( ILMU). The development of e-library system bring convience to both the student and librarians. The function of the system is to allow student to check the information of the book that they want. The system link through to the ILMU and will tell them the status of the book that student want to borrow. Student no need waste the time go to the library. It saves a lot of time. Student can also reserve the book that they want to borrow. When student reserve the book. The ILMU system will record the student account and the book that student want to borrow. This will help the e-library to renew the status of the book in the library. Librarians can also post the note on the e-library to inform student that some new books are coming out. Student can through the system to know what new book that they are interest in. Besides that, the librarian will also use the e-mail services to send the list of new book to the students who are seldom check the e-mail. These let the student always updated with the book of the library. However in order to use this system, student has to sign up an account. The sign up fees is RM100. If student forget the password, student can send the e-mail to the e-library system. The librarians who control the system will reset the password of the account and send new password to the student through e-mail or sms.