Water and Environment Engineering

Presentation Village Background Buayan is situated in Sabah state in Malaysia. The town is arranged in the Northwestern piece of the state, close to the seacoast (Kennedy, 2011). The name of the town is foreordained by a long history. As indicated by the record of one of the agents of Ulu Papar age, Buayan experienced a 7-year dry quite a while back (John, Sipanis, 2013). The dry season prompted the weariness of water resources.Advertising We will compose a custom basic composing test on Water and Environment Engineering explicitly for you for just $16.05 $11/page Learn More Nevertheless, there was one piece of the stream that figured out how to get by from the dry season and that people couldn't get to in view of the waterway turtle, named Suyan, who never left the zone. Be that as it may, one of the town occupants made a proposal to the turtle and the last permitted people to utilize water from the stream. Because of this contribution, Buayan town was established. In spite of the f act that the historical backdrop of the town name is only a legend, much data ends up being sensible as a result of the locals encountering water shortage. Significance of Water Supply for the Village It has been found that water gracefully level, especially climatic occasional varieties potently affect power flexibly (Kennedy, 2011). The measurement exhibits the obvious increment in the town vitality request during dry seasons on the grounds that the vast majority of vitality assets have been spent on building the water system frameworks and fake water gracefully frameworks. Insights in Comparison to Other Villages To guarantee adequate water flexibly in the locale, Sabah Water Resources Enactment was presented in 1998. The all out region of the stream assets in the region equivalents to 34321 ha, which is 97.5 of the whole assets of freshwater in Sabar. The nature of freshwater in the locale was compounded fundamentally from 1990 to 2004 (Credit and Microfinance Needs in Inland Ca pture Fisheries Development and Conservation in Asia, 2007). This could be decided by the flexibly and nature of freshwater fish in the town. In particular, it has been found that there is an unmistakable decrease in generally speaking fish arriving, regardless of the slight recuperation of angling in 2004. This improvement is clarified by the headway of data gathering procedures as opposed to by genuine increment in inland amount. As opposed to the Buayan town issues with water deficiencies, different locales likewise experienced lacking water the executives. As per the reports, more than 30,000 individuals in Sabak Bernam and Kuala Selangor districts were influenced by a draft (Hassan, 2012). In spite of the fact that this figure isn't huge when contrasted with the circumstance in the town, it despite everything required consideration.Advertising Looking for basic composition on natural investigations? How about we check whether we can support you! Get your first paper with 15% OF F Learn More Water Supply comparable to International Indicator HDI According to International Human Development Indicators, n. d.), Malaysia takes the 64th spot among different nations regarding future, earnings, and training. The positioning shows, that the personal satisfaction in the nation fails to impress anyone. In particular, the future in the area adds up to 74.5 years in normal (International Human Development Indicators n. d.). Malaysian individuals go through about 9.5 years for instruction, which is a lot of lower when contrasted with the created economies. Low degree of training in Malaysia potently affects the elective answers for providing water assets into the territories experiencing dry season. Moreover, absence of budgetary help doesn't permit the residents to construct proficient hydro-frameworks that would guarantee adequate flexibly of drinking water. Regularizing and Subjective Assessment Influence of Water Supply Management on Community Development Water gra cefully frameworks in Malaysia are profoundly evaluated in the nation since it impacts the nature of living. Because of the way that water gracefully framework requires noteworthy costs, the developments conspire is unimaginable except if the legislature gives adequate subsidizing (Vincent and Ali, 2011). In particular, the start of the development could mean amazing expenses and thought of long haul negligible expenses. Improving Water Quality for Better Healthcare As soon as water quality in Buayan is improved, individuals won't experience the ill effects of waterborne diseases and, subsequently, individuals will once in a while address clinical foundations. Water contamination is the significant wellspring of low of expectations for everyday comforts in the locales and, accordingly, this issue ought to be disposed of. Outline Modern Development in Buayan Although the town doesn't approach by street, very nearly 400 towns on the Crocker Range could utilize the force flexibly frame work (Duin, 2009). While utilizing the intensity of the waterway water, it is exceptionally fundamental for the residents to have adequate water gracefully. As reaction to the issue, small hydro gracefully framework was presented by Prime Minister’s Department (Duin, 2009). Utilizing the water vitality is advantageous for the town and financially savvy for the city government that can't bear the cost of providing energizes for shipping vitality assets. Hence, water shortage can represent a significant issue for the district Human Development and Poverty in the Village Sabah is a state arranged in northern piece of Borner; it is viewed as the second biggest zone in Malaysia. In spite of the way that the state is plenteous with normal assets, its financial improvement comes up short. In particular, the measurements shows the most elevated neediness rate in the locale, which makes it the least created area.Advertising We will compose a custom basic composing test on Water and En vironment Engineering explicitly for you for just $16.05 $11/page Learn More In this regard, Buayan town is likewise among the least evolved populated regions, which ought to be tended to. Numerous changes and plans were aimed at redevelopment and neediness decrease in country territories. This is of specific worry to the ninth Malaysian Plan that centers around the technique for destitution decrease and improvement of value ways of life in the locale (Dambul, Omar, and Osman, 2010). Framework Expansion versus Protection of Heritage While building and propelling water gracefully frameworks in Buayan, focusing on nature isn't less significant. In this way, the hydro-emotionally supportive network ought to be created alongside the investigation of ecological answer for forestall further air and water pollution (Gunawansa Bhullar, 2013). Assessing Water Supply As soon as the proficient water flexibly conspire is actualized in the locale, the townspeople could confront another issue, fo r example, high levies on drinking water utilization. Now, it is exceptionally important to reevaluate the money related circumstance to address the issue in a steady way. Elective Solution to Water Environment in the Village The issue of water flexibly could be improved when both water gracefully the executives and fund division are facilitated to deliver practical arrangements. Extrapolation and Coherent Argument Provided the quantity of houses increment, the water flexibly framework ought to likewise be revised to fit the new utilization patterns. So as to fulfill the new need, it is exceptionally important to draw in the private segment that can help the recently made family units (Gunawansa Bhullar, 2013). In particular, five water gracefully frameworks are operational in Sabah framework. In any case, there should an equivalent appropriation of the assets among different regions also. Future Trends in Water System Development While presenting the operational strategy, improved monetary appropriation of assets for water flexibly venture, just as sanitation and dry spell moderation, is among the most significant issues. In this regard, assets ought to likewise be accessible for asset the executives and arranging. Elective answers for subsidizing from private section have likewise been investigated (Onn, 2013).Advertising Searching for basic composition on natural examinations? How about we check whether we can support you! Get your first paper with 15% OFF Find out More The consideration is drawn from the water system structures that are incorporated into the procedure of reproduction and development. Adequate water framework improvement ought to likewise be founded on the nearness of proficient vitality framework that could guarantee superior of water flexibly frameworks. Convey of new water couldn't be effective by methods for trucks since fuel can have an undermining result for the earth. The area, along these lines, could proceed with its continuous change through survey of financing motivators and authoritative systems. As a proof, Malaysia doesn't have adequate and coordinated legitimate system for water issues, however critical advancement has been made toward this path. Water Quality Assessment: Efficiency, Sustainability and Equity Issue In request to safeguard water quality appraisal, different degrees of promotion could be executed to guarantee the achievement of the prerequisites. Further, the nature of water gracefully the board could b e guaranteed by adequate data trade between the task chiefs. Thusly, it is exceptionally essential to reevaluate the best administration rehearses and assess the new limit working to elective freshwater flexibly frameworks. Furthermore, Buayan district must be dissected from the political and natural perspective to evaluate how these issues could impact the water issue. Explicit consideration requires neediness level, salary, and socioeconomics. Segment data and societal position can build up headings for upgrading the board methodologies and presenting new thoughts and undertakings for overseeing water lack. References Credit and Microfinance Needs in Inland Capture Fisheries Development and Conservation In Asia. (2007). US: Food and Agriculture Org. Dambul, R., Omar, M. An., and Osm

Free Essays on Sir Launcelots Adventures

Sir Launcelot’s first experience was his experience with four sovereigns. While Launcelot was resting under an apple tree four sovereigns discovered him. They put a spell on him and took him to their palace. Subsequent to telling the sovereigns that he would not pick any of them to be his significant other they put him in a cell as a detainee. During the night a youthful aristocrat came and inquire as to whether he would battle with her dad, King Bagdemagus. She let him know whether he did that she would discharge him. As guaranteed she came and discharged him at day break the following day. During this entire time as a detainee Sir Launcelot regarded the four sovereigns and was well mannered. He kept each standard to the Code of Chivalry. Another enormous experience was a fight between Sir Tarquine and himself. He battled to save the knights the Sir Tarquine had taken detainees. A large portion of these men were from Camelot. The fight between them took hours since they were both solid and gifted knights. Sooner or later Sir Tarquine became black out and brought down his shield. Launcelot took his protective cap of and executed him. Launcelot executed the malicious Knight and protected the entirety of the knights that were kept detainees. This was most diffrently a positive demonstration of Chivalry. The last experience Sir Launcelot was at the Round Table in an opposition. He was to battle for King Bagdemagus. He put on protective layer that hidden him from his actual character. He won ever fight that he was in. Indeed, even Sir Launcelot was carrying out something to be thankful for to help the noblewoman’s father he still wasn’t following the Code Chivalry totally. He deceived others to think he was another person. He likewise wasn’t being faithful to King Arthur since he was battling for another King. So out of the considerable number of experiences Sir Launcelot took, this one is faulty on following the Code of Chivalry.... Free Essays on Sir Launcelots Adventures Free Essays on Sir Launcelots Adventures Sir Launcelot’s first experience was his experience with four sovereigns. While Launcelot was dozing under an apple tree four sovereigns discovered him. They put a spell on him and took him to their stronghold. In the wake of telling the sovereigns that he would not pick any of them to be his better half they put him in a cell as a detainee. During the night a youthful aristocrat came and inquire as to whether he would battle with her dad, King Bagdemagus. She let him know whether he did that she would discharge him. As guaranteed she came and discharged him at sunrise the following day. During this entire time as a detainee Sir Launcelot regarded the four sovereigns and was well mannered. He kept each standard to the Code of Chivalry. Another huge experience was a fight between Sir Tarquine and himself. He battled to safeguard the knights the Sir Tarquine had taken detainees. A large portion of these men were from Camelot. The fight between them took hours since they were both solid and gifted knights. Inevitably Sir Tarquine became swoon and brought down his shield. Launcelot took his protective cap of and decapitated him. Launcelot slaughtered the malicious Knight and protected the entirety of the knights that were kept detainees. This was most diffrently a positive demonstration of Chivalry. The last experience Sir Launcelot was at the Round Table in an opposition. He was to battle for King Bagdemagus. He put on shield that hidden him from his actual character. He won ever fight that he was in. Indeed, even Sir Launcelot was carrying out something worth being thankful for to help the noblewoman’s father he still wasn’t following the Code Chivalry totally. He deceived others to think he was another person. He likewise wasn’t being faithful to King Arthur since he was battling for another King. So out of the considerable number of undertakings Sir Launcelot took, this one is sketchy on following the Code of Chivalry....

everything i know about friendship, i learned from the wellesley-mit toons

everything i know about friendship, i learned from the wellesley-mit toons schedule regular times to see my friends, weekly or biweekly. put it in google calendar. (toons has rehearsal 2x a week) check in with my friends and ask how theyre doing. do this regularly (toons does this formally, every rehearsal) take my friends off campus (the bus to wellesley is an easy way to do this but there are other places  too!) invite my friends to do things that i want/need to do and sometimes they will say yes. this applies to concerts. this applies to ordering dominos at 1am. this applies to watching a terrible movie for my film class. tell my friends where i am when im just working somewhere on campus or hanging out by myself in my room. if theyre nearby theyll swing by and say hi, and it sets a precedent for letting them know that they can visit me. ask my friends for advice. they are smart people and often know what to do. introduce my new friends to my old friends. if my friends are friends with me theyll probably be friends with each other. make friends with people in other years. and other majors. and other schools. parties are more fun with friends. find out my friends birthdays and celebrate them. invite my friends and their friends. pset with my friends. my life is so much better when im taking classes that my friends are also taking. dont pset with my friends too much. psetting together shouldnt be our primary interaction with each other. send my friends things that remind me of them.  send my friends memes that remind me of them. make things together. especially art. especially bad art. share the things i like with my friends. music. articles. quotes from my reading assignments. video games. groupchats. or the og groupchats, mit mailing lists. ways to hang out that arent psetting: going out for meals. cooking meals together. guest-passing people into dining halls. taking boxes of food from dining and sharing them. watching a tv series together. being workout/exercise buddies. do things that signal commitment. see (1), (14), (16), (17). spontaneously visit my friends when im near their rooms. sometimes they wont be there but thats ok because sometimes they will. knock on their door and ask if they want to take a walk or go to beantown. take pictures of/with my friends. save the pictures. remember those groupchats and mailing lists? messaging out is anyone awake? wanna talk? in the middle of an all-nighter gets a surprisingly high response rate. not 100%. but a lot higher than 0%. be ok with saying no to things sometimes. its ok. friends will understand. Post Tagged #a cappella #Wellesley-MIT Toons #Wellesley-MIT Toons

Presidential Executive Order

Executive orders (EOs) are official documents, numbered consecutively, by which the President of the U.S. manages the operations of the Federal Government.Since 1789, US presidents (the executive) have issued directives that are now known as executive orders. These are legally binding directives to federal administrative agencies. Executive orders are generally used to direct federal agencies and officials as their agencies implement a congressionally-established law. However, executive orders may be controversial if the President is acting counter to real or perceived legislative intent.History of Executive OrdersPresident George Washington issued the first executive order three months after being sworn into office . Four months later, 3 October 1789, Washington used this power to proclaim the first national day of thanksgiving.The term executive order was initiated by President Lincoln in 1862, and most executive orders were unpublished until the early 1900s when the State Departme nt began numbering them.br/>Since 1935, presidential proclamations and executive orders of general applicability and legal effect must be published in the Federal Register unless doing so would threaten national security.Executive Order 11030, signed in 1962, established the proper form and process for presidential executive orders. The Director of the Office of Management and Budget is responsible for managing the process.The executive order is not the only type of presidential directive. Signing statements are another form of a directive, specifically associated with a piece of legislation passed by Congress. Types of Executive Orders There are two types of executive order. The most common is a document directing executive branch agencies how to carry out their legislative mission. The other type is a declaration of policy interpretation which intended for a wider, public audience.The text of executive orders appears in the daily Federal Register as each executive order is signed by the President and received by the Office of the Federal Register. The text of executive orders beginning with Executive Order 7316 of 13 March 1936, also appears in the sequential editions of Title 3 of the Code of Federal Regulations (CFR). Access and Review The National Archives maintains an online record of Executive Order Disposition Tables. The tables are compiled by President and maintained by the Office of the Federal Register. The first is President Franklin D. Roosevelt.The Codification of Presidential Proclamations and Executive Orders covers the period 13 April 1945, through 20 January 1989 -- a period encompassing the administrations of Harry S. Truman through Ronald Reagan. Executive Orders Signed by George W. Bush - 262, EOs 13198 - 13466 (17 July 2008)Executive Orders Signed by William J. Clinton - 364, EOs 12834-13197Executive Orders Signed by George Bush - 166, EOs 12668-12833Executive Orders Signed by Ronald Reagan - 381, EOs 12287-12667Executive Orders Signed by Jimmy Carter - 320, EOs 11967-12286Executive Orders Signed by Gerald Ford - 169, EOs 11798-11966Executive Orders Signed by Richard Nixon - 346, EOs 11452-11797Executive Orders Signed by Lyndon B. Johnson - 324, EOs 11128-11451Executive Orders Signed by John F. Kennedy - 214, EOs 10914-11127Executive Orders Signed by Dwight D. Eisenhower - 486, EOs 10432-10913Executive Orders Signed by Harry S. Truman - 896, EOs 9538-10431Executive Orders Signed by Franklin D. Roosevelt - 3,728, EOs 6071-9537 Revoking An Executive OrderIn 1988, President Reagan banned abortions at a   military hospital except in cases of rape or incest or when the mothers life is threatened. President Clinton rescinded it with another executive order. A Republican Congress then codified this restriction in an appropriations bill. Welcome to the Washington, D.C. merry-go-round. Because executive orders relate to how one president manages his executive branch team, there is no requirement that subsequent presidents follow them. They may do as Clinton did, and replace an old executive order with a new one or they may simply revoke the prior executive order.Congress can also revoke a presidential executive order by passing a bill by a veto-proof (2/3 vote) majority. For example, in 2003 Congress unsuccessfully attempted to revoke President Bushs Executive Order 13233, which had rescinded Executive Order 12667 (Reagan). The bill, HR 5073 40, did not pass. Controversial Executive Orders Presidents have been accused of using the power of the executive order to make, not merely implement, policy. This is controversial, as it subverts the separation of powers as outlined in the Constitution.President Lincoln used the power of presidential proclamation to initiate the Civil War. On 25 December 1868, President Andrew Johnson issued the Christmas Proclamation, which pardoned all and every person who directly or indirectly participated in the late insurrection or rebellion related to the Civil War. He did so under his constitutional authority to grant pardons; his action was subsequently upheld by the Supreme Court.President Truman desegregated the armed forces via Executive Order 9981. During the Korean War, on 8 April 1952, Truman issued Executive Order 10340  in order to avert a steel mill workers strike called for the following day. He did so with public regret. The case -- --Youngstown Sheet Tube Co. v. Sawyer, 343 U.S. 579 (1952) -- went all the way to the Supreme Court, which sided with the steel mills. Workers [url linkhttp://www.democraticcentral.com/showDiary.do?diaryId1865]immediately went on strike. A half million workers were laid off as companies lacked steel to keep plants running. The number of railroad cars loaded in the week ending July 7, 1952, was the lowest since records had been kept, and many railroads began to suffer financial difficulty. California growers faced a loss of $200 million because there was not enough steel to make cans for their vegetable crops. On July 22, the United States Army shut down its largest shell-making plant due to a lack of steel. President Eisenhower used Executive Order 10730  to begin the process of desegregating Americas public schools.

Sams Club - 778 Words

Sams Club Ââ€" Stack it high and sell it cheap! Written by Clayton J. Macy Sams Club Ââ€" A Cathedral of Consumption Sams Club, is most certainly, a cathedral of consumption. Sams Club has contributed to individuals consuming far more than they need to consume. It has become a place of hyper-consumption and their great size is enchanting to many shoppers. Thus going to Sams Club has become a family outing for some people. Above all, Sams Club is an evolution on a scale that is easy to examine. First, people purchase needed items at a town fair, then the mom and pop grocery store, and finally they venture to the local super market. But unlike the others, Sams Club is Brontosaurus and T-Rex combined, consuming all in its†¦show more content†¦I can buy toilet paper, batteries, and milk, some socks, bread, toothpaste, film, and a vegetable platter and walk out spending $200. And as I walk out they stop me at the door and analyze everything in my cart to assure that I have not stolen from their establishment. What is even more surprising is that I continue to come back. Where is this ca thedral of consumption leading us, and when is it time to fight off theShow MoreRelatedCostcp vs Sams Club2904 Words   |  12 Pagesâ€Å"Warehouse Club Wars† Costco vs Sams Club Table of Contents Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 Warehouse Business Model†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....3 Costco Background †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..5 Sam’s Club Background †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 Competition and Market Position of Rivals †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 Comparision across Functional areas †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..9 What is Cross docking ?†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..13 What is Vendor Managed InventoryRead MoreCostco And Sam s Club1256 Words   |  6 Pagescompanies such as, another big box retailer Sam’s Club, as well as, Target and Walmart. Comparing for instance, Costco and Sam’s Club, both retailers offer basically low prices, mass quantities, miscellaneous items for the home, and require individuals to pay in order to shop at the establishment (Quirk, 2016). There is a minimal difference in the amount individuals pay to be members of these establishments; Costco’s annual fee is $55 and Sam’s Club is $45 (Quirk, 2016). Although both retailers haveRead MoreSam s Club : The World s Largest Retail Companies1986 Words   |  8 PagesSam’s club is one of the world’s largest retail companies. It is a membership warehouse chain by Wal-Mart. It is committed to offering good quality services and products. Sam’s club has their own goal to ensure that they meet or exceed their expectations on quality, ser vices, and performance. Sam’s club has 100% Membership and Merchandise Satisfaction Guarantee programs. It is only available exclusively for current members only. By doing this membership plan, we can get instant saving coupons, cashRead MoreGlobal Business Strategy : Wal Mart And Sam s Club Chains1086 Words   |  5 Pagesregulations on foreign investment. In South Korea, they pulled out in 2006 due to their shoes-to-sausage product line did not persuade the shopping habits of many non-American shoppers. (Wall Street Journal, 2013) Macro Environment The Wal-Mart / Sam’s Club chains are the biggest retail companies that operate within the United States of America. The company has received the first position in the Fortune 500 Index Fortune Magazine for a substantial number of years (Wal-Mart History, 2014). The companyRead MoreShould I Be An Avid Concert Goer And All Around Explorer1361 Words   |  6 Pagesme. Truthfully, the closest I have ever had to a â€Å"club† like experience would be the horrific house party of ’12. Needless to say, that was enough to cement my belief that it would be unenjoyable. Sitting around Friday afternoon with no plans yet set in stone, suggesting that we go out for â€Å"girls’ night† later that evening via group chat seemed perfectly normal. Bouncing ideas off each other, I brought up the idea of wanting to check out a club. Apparently that caught everyone off guard; instantlyRead MoreSamuel Walton s Life And Accomplishments Essay1203 Words   |  5 Pagesdid not provide enough money for his family and started to work for his brother in farm martagons. Sam and his family moved to Shelbina, Missouri. In eighth grade, he was active in boy scouts and became the youngest eagle scout in his state along with receiving the recipient of Distinguished Eagle Scout Award from the boy scouts of America. Later, the family moved to Columbia, Missouri, where Sam was a good student, quarterback on the football team, and voted most versatile boy at Hickman HighRead MorePhl/458 Famous Thinkers Essay1060 Words   |  5 Pagesto discounted variety st ores there are not many stores that compare to Wal-Mart. The founder and former chairman of Wal-Mart Stores Inc., the world’s largest retailer, is Sam Walton. The innovative thinking of Bill Gates and Sam Walton has changed the business world. With Bill Gates’ contributions to computer technology and Sam Walton’s contribution to the retail industry there is no question why their companies are worth billions of dollars today. William (Bill) H. Gates III was born OctoberRead MoreFinancial Planning At The Fast Food Market1252 Words   |  6 PagesKentucky Fried Chicken, and Howard Johnson Motor Lodges began offering franchising opportunities to interested parties at cheap franchise costs. Ben Franklin stores increased their popularity when an idealistic army veteran named Sam Walton invested in one of their franchises. Sam Walton leased a location for his Ben Franklin Variety Store in Newport, Arkansas after securing a $20,000 loan from his father-in-law. With Walton’s keen business strategies and ingenuity, his first franchise achieved great successRead MoreWal Mart : American National Wholesale Business875 Words   |  4 PagesIn 1945, Sam Walton in 1945 purchased a branch of the Ben Franklin Stores from the Butler Brothers. Sam Walton founded Walmart in 1962. In 1940 he started working in retail at J.C Penny and he was a business.. His primarily focus was on selling products at low prices to rec eive higher volume sales at a lower profit. At first it was difficult because the lease price and branch purchase were high, he found lower-cost suppliers. Sales increased 45 percent in the first year of ownership to $105,000 inRead MoreThe Most Iconic Civil Rights Movement Influencers Of All Time By Billie Holiday1590 Words   |  7 Pagesrecords and escape the harsh reality of her life. When she made the move to New York with her mother around the age of 15, she began to perform at local clubs under the name â€Å"Billie†. After a while of singing solo, Billie was discovered by producer John Hammond and her career had begun. Holiday then began to work solo at the New York Cafà © Society club. Here, Billie created some of her best work including the track titled â€Å"Strange Fruit†. At first, Billie Holidays record company at the time, Columbia

Engineering Economics Free Essays

Eng ineeri ng Economy Third Edition Leland T. Blank, P. E. We will write a custom essay sample on Engineering Economics or any similar topic only for you Order Now Department of Industrial Engineering Assistant Dean of Engineering Texas A M University Anthony J. Tarquin, P. E. Department of Civil Engineering Assistant Dean of Engineering The University of Texas at EI Paso McGraw-Hill Book Company New York S1. Louis San Francisco Auckland Bogota Caracas Colorado Springs Hamburg Lisbon London Madrid Mexico Milan Montreal New Delhi Oklahoma City Panama Paris San Juan Silo Paulo Singapore Sydney Tokyo Toronto 4 Level One 1. Define and recognize in a problem statement the economy symbols P, F, A, n, and i. 1. 6 Define cash flow, state what is meant by end-of-period convention, and construct a cash-flow diagram, given a statement describing the amount and times of the cash flows. Study Guide 1. 1 Basic Terminology Before we begin to develop the terminology and fundamental concepts upon which engineering economy is based, it would be appropriate to define what is meant by engineering economy. In the simplest terms, engineering economy is a collectio n of mathematical techniques which simplify economic comparisons. With these techniques, a rational, meaningful approach to evaluating the economic aspects of different methods of accomplishing a given objective can be developed. Engineering economy is, therefore, a decision assistance tool by which one method will be chosen as the most economical one. In order for you to be able to apply the techniques, however, it is necessary for you to understand the basic terminology and fundamental concepts that form the foundation for engineering-economy studies. Some of these terms and concepts are described below. An alternative is a stand-alone solution for a give situation. We are faced with alternatives in virtually everything we do, from selecting the method of transportation we use to get to work every day to deciding between buying a house or renting one. Similarly, in engineering practice, there are always seveffl ways of accomplishing a given task, and it is necessary to be able to compare them in a rational manner so that the most economical alternative can be selected. The alternatives in engineering considerations usually involve such items as purchase cost (first cost), the anticipated life of the asset, the yearly costs of maintaining the asset (annual maintenance and operating cost), the anticipated resale value (salvage value), and the interest rate (rate of return). After the facts and all the relevant estimates have been collected, an engineering-economy analysis can be conducted to determine which is best from an economic point of view. However, it should be pointed out that the procedures developed in this book will enable you to make accurate economic decisions only about those alternatives which have been recognized as alternatives; these procedures will not help you identify what the alternatives are. That is, if alternatives ,4, B, C, D, and E have been identified as the only possible methods to solve a Particular problem when method F, which was never recognized as an alternative, is really the most attractive method, the wrong decision is certain to be made because alternative F could never be chosen, no matter what analytical techniques are used. Thus, the importance of alternative identification in the decision-making process cannot be overemphasized, because it is only when this aspect of the process has been thoroughly completed that the analysis techniques presented in this book can be of greatest value. In order to be able to compare different methods for accomplishing a given objective, it is necessary to have an evaluation criterion that can be used as a basis Terminology and Cash-Flow Diagrams 5 for judging the alternatives. That is, the evaluation criterion is that which is used to answer the question â€Å"How will I know which one is best? Whether we are aware of it or not, this question is asked of us many times each day. For example, when we drive to work, we subconsciously think that we are taking the â€Å"best† route. But how did we define best? Was the best route the safest, shortest, fastest, cheapest, most scenic, or what? Obviously, depending upon which criterion is used to identify the best, a dif ferent route might be selected each time! (Many arguments could have been avoided if the decision makers had simply stated the criteria they were using in determining the best). In economic analysis, dollars are generally used as the basis for comparison. Thus, when there are several ways of accomplishing a given objective, the method that has the lowest overall cost is usually selected. However, in most cases the alternatives involve intangible factors, such as the effect of a process change on employee morale, which cannot readily be expressed in terms of dollars. When the alternatives available have approximately the same equivalent cost, the nonquantifiable, or intangible, factors may be used as the basis for selecting the best alternative, For items of an alternative which can be quantified in terms of dollars, it is important to recognize the concept of the time value of money. It is often said that money makes money. The statement is indeed true, for if we elect to invest money today (for example, in a bank or savings and loan association), by tomorrow we will have accumulated more money than we had originally invested. This change in the amount of money over a given time period is called the time value of money; it is the most important concept in engineering economy. You should also realize that if a person or company finds it necessary to borrow money today, by tomorrow more money than the original loan will be owed. This fact is also explained by the time value of money. The manifestation of the time value of money is termed interest, which is a measure of the increase between the original sum borrowed or invested and the final amount owed or accrued. Thus, if you invested money at some time in the past, the interest would be Interest = total amount accumulated – original investment (1. 1) On the other hand, if you borrowed would be Interest money at some time in the past, the interest (1. 2) = present amount owed – original loan In either case, there is an increase in the amount of money that was originally invested or borrowed, and the increase over the original amount is the interest. The original investment or loan is referred to as principal. Probs. 1. 1 to 1. 4 1. 2 Interest Calculations When interest is expressed as a percentage of the original amount per unit time, the result is an interest rate. This rate is calculated as follows: . Percent interest rate = interest accrued per unit time 00% .. I x 1 0 origma amount (1. 3) 6 Level One By far the most common time period used for expressing interest rates is 1 year. However, since interest rates are often expressed over periods of time shorter than 1 year (i. e. 1% per month), the time unit used in expressing an interest rate must also be identified and is termed an interest period. The following two examples illustrate the computation of interest rate. Example 1. 1 The Get-Rich-Quick (GRQ) Company invested $100,000 on May 1 and withdrew a total of $106,000 exactly one year later. Compute (a) the interest gained from the original investment and (b) the interest rate from the investment. Solution (a) Using Eq. ( 1. 1), Interest = 106,000 – 100,000 = $6000 (b) Equation (1. 3) is used to obtain Percent interest rate = 6000 per year 100,000 x 100% = 6% per year Comment For borrowed money, computations are similar to those shown above except that interest is computed by Eq. (1. 2). For example, if GRQ borrowed $100,000 now and repaid $110,000 in 1 year, using Eq. (1. 2) we find that interest is $10,000, and the interest rate from Eq. (1. 3) is 10% per year. Example 1. 2 Joe Bilder plans to borrow $20,000 for 1 year at 15% interest. Compute (a) the interest and (b) the total amount due after 1 year. Solution (a) Equation (1. 3) may be solved for the interest accrued to obtain Interest = 20,000(0. 15) = $3000 (b) Total amount due is the sum of principal and interest or Total due Comment = 0,000 + 3000 = $23,000 Note that in part (b) above, the total amount due may also be computed as Total due = principal(l + interest rate) = 20,000(1. 15) = $23,000 In each example the interest period was 1 year and the interest was calculated at the end of one period. When more than one yearly interest period is involved (for example, if we had wanted to know the amount of interest Joe Bilder would owe on Terminology and Cash-Flow Diagrams 7 the above loan after 3 years), it becomes necessary to determine whether the interest . payable on a simple or compound basis. The concepts of simple and compound interest are discussed in Sec. . 4. Additional Examples 1. 12 and 1. 13 Probs. 1. 5 to 1. 7 1. 3 Equivalence The time value of money and interest rate utilized together generate the concept of equivalence, which means that different sums of money at different times can be equal in economic value. For example, if the interest rate is 12% per year, $100 today (i. e. , at present) would be equivalent to $112 one year from today, since mount accrued = 100 =$112 Thus, if someone offered you a gift of $100 today or $112 one year from today, it would make no difference which offer you accepted, since in either case you would have $112 one year from today. The two sums of money are therefore equivalent to each other when the interest rate is 12% per year. At either a higher or a lower interest rate, however, $100 today is not equivalent to $112 one year from today. In addition to considering future equivalence, one can apply the same concepts for determining equivalence in previous years. Thus, $100 now would be equivalent to 100/1. 12 = $89. 29 one year ago if the interest rate is 12% per year. From these examples, it should be clear that $89. 29 last year, $100 now, and 112 one year from now are equivalent when the interest rate is 12% per year. The fact that these sums are equivalent can be established by computing the interest rate as follows: 112 100 = 1. 12, or 12% per year and 8~~~9 = 1. 12, or 12% per year The concept of equivalence can be further illustrated by considering different loan-repayment schemes. Each scheme represents repayment of a $5000 loan in 5 years at 15%-per-year interest. Table 1. 1 presents the details for the four repayment methods described below. (The methods for determining the amount of the payments are presented in Chaps. 2 and 3. ) †¢ Plan 1 a interest or principal is recovered until the fifth year. Interest accumulates each year on the total of principal and all accumulated interest. †¢ Plan 2 The accrued interest is paid each year and the principal is recovered at the end of 5 years. †¢ Plan 3 The accrued interest and 20% of the principal, that is, $1000, is paid each year. Since the remaining loan balance decreases each year, the accrued interest decreases each year. + 100(0. 12) = 100(1 + 0. 12) = 100(1. 12) 8 Level One Table 1. 1 Different repayment schedules of $5,000 at 15% for 5 years (1) End of year (2) = 0. 15(5) Interest for year (3) = (2) + (5) Total owed at end of year (4) Payment per plan (3) – (4) Balance after payment (5) Plan 1 0 1 2 3 4 5 Plan 2 0 1 2 3 4 5 Plan 3 0 1 2 3 4 5 Plan 4 0 1 2 3 4 5 $ 750. 00 862. 50 991. 88 1,140. 66 1,311. 76 5,750. 00 6,612. 50 7,604. 38 8,745. 04 10,056. 80 0 0 0 0 10,056. 80 $10,056. 80 $ $5,000. 00 5,750. 00 6,612. 50 7,604. 38 8,745. 04 0 $750. 00 750. 00 750. 00 750. 00 750. 00 $5,750. 00 5,750. 00 5,750. 00 5,750. 00 5,750. 00 $ 750. 00 750. 00 750. 00 750. 00 5,750. 00 $8,750. 00 $5,000. 00 5,000. 00 5,000. 00 5,000. 00 5,000. 00 0 $750. 00 600. 00 450. 00 300. 00 150. 00 $5,750. 00 4,600. 00 3,450. 00 2,300. 00 1,150. 00 $1,750. 00 1,600. 00 1,450. 0 1,300. 00 1,150. 00 $7,250. 00 5,000. 00 4,000. 00 3,000. 00 2,000. 00 1,000. 00 0 $750. 00 638. 76 510. 84 363. 73 194. 57 $5,750. 00 4,897. 18 3,916. 44 2,788. 59 1,491. 58 $1,491. 58 1,491. 58 1,491. 58 1,491. 58 1,491. 58 $7,457. 90 $5,000. 00 4,258. 42 3,405. 60 2,424. 86 1,297. 01 0 †¢ Plan 4 Equal payments are made each year with a portion going toward princi- pal recovery and the remainder covering the accrued interest. Since the loan balance decreases at a rate which is slower than in plan 3 because of the equal end-of-year payments, the interest decreases, but at a rate slower than in plan 3. te that the total amount repaid in each case would be different, even though each repayment scheme would require exactly 5 years to repay the loan. The difference in the total amounts repaid can of course be explained by the time value of money, since the amount of the payments is different for each plan. With respect to equivalence, the table shows that when the interest rate is 15% per year, $5000 at time 0 is equivalent to $10,056. 80 at the end of year 5 (plan 1), or $750 per year for 4 years and $5750 at the end of year 5 (plan 2), or the decreasing amounts shown in years 1 through 5 (plan 3), or $1,491. 8 per year for 5 years (plan 4). Using the formulas developed in Chaps. 2 and 3, we could easily show that if the payments in Terminology and Cash-Flow Diagrams 9 each plan (column 4) were reinvested at 15% per year when received, the total amount of money available at the end of year 5 would be $10,056. 80 from each repayment plan. Additional Examples 1. 14 and 1. 15 Probs. 1. 8 and 1. 9 1. 4 Simple and Compound Interest The concepts of interest and interest rate were introduced in Sees. 1. 1 and 1. 2 and ed in Sec. 1. 3 to calculate for one interest period past and future sums of money equivalent to a present sum (principal). When more than one interest period is involved, the terms simple and compound interest must be considered. Simple interest is calculated using the principal only, ignoring any interest that was accrued in preceding interest periods. The total interest can be computed using the relation Interest = (principal)(number of periods)(interest rate) = Pni (1. 4) Example 1. 3 If you borrow $1000 for 3 years at 14%-per-year simple interest, how much money will you owe at the end of 3 years? Solution The interest for each of the 3 years is = Interest per year 1000(0. 14) = $140 Total interest for 3 years from Eq. (1. 4) is Total interest = 1000(3)(0. 4)= $420 Finally, the amount due after 3 years is 1000 + 420 Comment = $1420 The $140 interest accrued in the first year and the $140 accrued in the second year did not earn interest. The interest due was calculated on the principal only. The results of this loan are tabulated in Table 1. 2. The end-of-year figure of zero represents th~ present, th at is, when the money is borrowed. Note that no payment is made by the borrower until the end of year 3. Thus, the amount owed each year increases uniformly by $140, since interest is figured only on the principal of $1000. Table 1. 2 Simple-interest (1) (2) computation (3) (4) (2) + (3) Amount owed (5) End of year 0 1 2 Amount borrowed $1,000 Interest Amount paid 3 $140 140 140 $1,140 1,280 1,420 $ 0 0 1,420 10 Level One In calculations of compound interest, the interest for an interest period is calculated on the principal plus the total amount of interest accumulated in previous periods. Thus, compound interest means â€Å"interest on top of interest† (i. e. , it reflects the effect of the time value of money on the interest too). Example 1. 4 If you borrow $1000 at 14%-per-year compound interest, instead of simple interest as in the preceding example, compute the total amount due after a 3-year period. Solution The interest and total amount due for each year is computed as follows: Interest, year 1 = 1000(0. 14) = $140 Total amount due after year 1 = 1000 + 140 = $1140 Interest, year 2 = 1140(0. 14) = $159. 60 Total amount due after year 2 = 1140 + 159. 60 = $1299. 60 Interest, year 3 = 1299. 60(0. 14)= $181. 94 Total amount due after year 3 = 1299. 60 + 181. 94 = $1481. 54 Comment The details are shown in Table 1. 3. The repayment scheme is the same as that for the simple-interest example; that is, no amount is repaid until the principal plus all interest is due at the end of year 3. The time value of money is especially recognized in compound interest. Thus, with compound interest, the original $1000 would accumulate an extra $1481. 54 – $1420 = $61. 54 compared with simple interest in the 3-year period. If $61. 54 does not seem like a significant difference, remember that the beginning amount here was only $1000. Make these same calculations for an initial amount of $10 million, and then look at the size of the difference! The power of compounding can further be illustrated through another interesting exercise called â€Å"Pay Now, Play Later†. It can be shown (by using the equations that will be developed in Chap. ) that at an interest rate of 12% per year, approximately $1,000,000 will be accumulated at the end of a 40-year time period by either of the Table 1. 3 Compound-interest (1) (2) computation (3) (4) = (2) + (3) (5) End of year 0 1 2 3 Amount borrowed $1,000 Interest Amount owed $1,140. 00 1,299. 60 1,481. 54 Amount paid $140. 00 159. 60 181. 94 $ 0 0 1,481. 54 Terminology and Cash-Flow Diagrams 11 – llowing investment schemes: †¢ Plan 1 Invest $2610 each year for the first 6 years and then nothing for the next 34 years, or †¢ Plan 2 Invest nothing for the first 6 years, and then $2600 each year for the next 34 years!! ‘ote that the total investment in plan 1 is $15,660 while the total required in plan _ to accumulate the same amount of money is nearly six times greater at $88,400. Both the power of compounding and the wisdom of planning for your retirement at he earliest possible time should be quite evident from this example. An interesting observation pertaining to compound-interest calculations in-olves the estimation of the length of time required for a single initial investment to double in value. The so-called rule of 72 can be used to estimate this time. The rule i based on the fact that the time required for an initial lump-sum investment to double in value when interest is compounded is approximately equal to 72 divided by the interest rate that applies. For example, at an interest rate of 5% per year, it would take approximately 14. 4 years (i. e. , 72/5 = 14. 4) for an initial sum of money to double in value. (The actual time required is 14. 3 years, as will be shown in Chap. 2. ) In Table 1. 4, the times estimated from the rule of 72 are compared to the actual times required for doubling at various interest rates and, as you can see, very good estimates are obtained. Conversely, the interest rate that would be required in order for money to double in a specified period of time could be estimated by dividing 72 by the specified time period. Thus, in order for money to double in a time period of 12 years, an interest rate of approximately 6% per year would be required (i. e. , 72/12 = 6). It should be obvious that for simple-interest situations, the â€Å"rule of 100† would apply, except that the answers obtained will always be exact. In Chap. 2, formulas are developed which simplify compound-interest calculations. The same concepts are involved when the interest period is less than a year. A discussion of this case is deferred until Chap. 3, however. Since real-world calculations almost always involve compound interest, the interest rates specified herein refer to compound interest rates unless specified otherwise. Additional Example 1. 16 Probs. 1. 10 to 1. 26 Table 1. 4 Doubling time estimated actual time from rule of 72 versus Doubling lime, no. of periods Interest rate, % per period 1 Estimated from rule 72 Actual 70 35. 3 14. 3 7. 5 2 5 10 20 40 36 14. 4 7. 2 3. 6 1. 8 3. 9 2. 0 12 Level One 1. 5 Symbols and Their Meaning The mathematical symbols: relations sed in engmeenng economy employ the following P = value or sum of money at a time denoted as the present; dollars, pesos, etc. F A n i = value or sum of money at some future time; dollars, pesos, etc. = a series of consecutive, equal, end-of-period month, dollars per year, etc. amounts of money; dollars per = number of interest periods; months, years, etc. = interest rate per interest period; percent per month, percent per year, etc. The symbols P and F represent single-time occurrence values: A occurs at each interest period for a specified number of periods with the same value. It should be understood that a present sum P represents a single sum of money at some time prior to a future sum or uniform series amount and therefore does not necessarily have to be located at time t = O. Example 1. 11 shows a P value at a time other than t = O. The units of the symbols aid in clarifying their meaning. The present sum P and future sum F are expressed in dollars; A is referred to in dollars per interest period. It is important to note here that in order for a series to be represented by the symbol A, it must be uniform (i. e. the dollar value must be the same for each period) and the uniform dollar amounts must extend through consecutive interest periods. Both conditions must exist before the dollar value can be represented by A. Since n is commonly expressed in years or months, A is usually expressed in units of dollars per year or dollars per month, respectively. The compound-interest rate i is expressed in percent per interest period, for example, 5% per year. Ex cept where noted otherwise, this rate applies throughout the entire n years or n interest periods. The i value is often the minimum attractive rate of return (MARR). All engineering-economy problems must involve at least four of the symbols listed above, with at least three of the values known. The following four examples illustrate the use of the symbols. Example 1. 5. If you borrow $2000 now and must repay the loan plus interest at a rate of 12% per year in 5 years, what is the total amount you must pay? List the values of P, F, n, and i. Solution In this situation P and F, but not A, are involved, since all transactions are single payments. The values are as follows: P = $2000 Example 1. 6 i = 12% per year n = 5 years If you borrow $2000 now at 17% per year for 5 years and must repay the loan in equal yearly payments, what will you be required to pay? Determine the value of the symbols involved. Terminology and Cash-Flow Diagrams 13 ~- ution = S2000 = ? per year for 5 years = 17% per year = 5 years – ere is no F value involved. – 1 In both examples, the P value of $2000 is a receipt and F or A is a disbursement. equally correct to use these symbols in reverse roles, as in the examples below. Example 1. 7 T you deposit $500 into an account on May 1, 1988, which pays interest at 17% per year, hat annual amount can you withdraw for the following 10 years? List the symbol values. Solution p = $500 A =? per year i = 17% per year n= 10 years Comment The value for the $500 disbursement P and receipt A are given the same symbol names as before, but they are considered in a different context. Thus, a P value may be a receipt (Examples 1. 5 and 1. 6) or a disbursement (this example). Example 1. 8 If you deposit $100 into an account each year for 7 years at an interest rate of 16% per year, what single amount will you be able to withdraw after 7 years? Define the symbols and their roles. Solution In this example, the equal annual deposits are in a series A and the withdrawal is a future sum, or F value. There is no P value here. A = $100 per year for 7 years F =? i = 16% per year n = 7 years Additional Example 1. 17 Probs. 1. 27 to 1. 29 14 Level One 1. 6 Cash-Flow Diagrams Every person or company has cash receipts (income) and cash disbursements (costs) which occur over a particular time span. These receipts and disbursements in a given time interval are referred to as cash flow, with positive cash flows usually representing receipts and negative cash flows representing disbursements. At any point in time, the net cash flow would be represented as Net cash flow = receipts – disbursements (1. 5) Since cash flow normally takes place at frequent and varying time intervals within an interest period, a simplifying assumption is made that all cash flow occurs at the end of the interest period. This is known as the end-of-period convention. Thus, when several receipts and disbursements occur within a given interest period, the net cash flow is assumed to occur at the end of the interest period. However, it should be understood that although the dollar amounts of F or A are always considered to occur at the end of the interest period, this does not mean that the end of the period is December 31. In the situation of Example 1. 7, since investment took place on May 1, 1988, the withdrawals will take place on May 1, 1989 and each succeeding May 1 for 10 years (the last withdrawal will be on May 1, 1998, not 1999). Thus, end of the period means one time period from the date of the transaction (whether it be receipt or disbursement). In the next chapter you will learn how to determine the equivalent relations between P, F, and A values at different times. A cash-flow diagram is simply a graphical representation of cash flows drawn on a time scale. The diagram should represent the statement of the problem and should include what is given and what is to be found. That is, after the cash-flow diagram has been drawn, an outside observer should be able to work the problem by looking at only the diagram. Time is considered to be the present and time 1 is the end of time period 1. (We will assume that the periods are in years until Chap. . ) The time scale of Fig. 1. 1 is set up for 5 years. Since it is assumed that cash flows occur only at the end of the year, we will be concerned only with the times marked 0, 1, 2, †¦ , 5. The direction of the arrows on the cash-flow diagram is important to problem solution. Therefore, in this text, a vertical arrow pointing up will indicate a positive cash flow. Conversely, an a rrow pointing down will indicate a negative cash flow. The cash-flow diagram in Fig. 1. 2 illustrates a receipt (income) at the end of year 1 and a disbursement at the end of year 2. It is important that you thoroughly understand the meaning and construction of the cash-flow diagram, since it is a valuable tool in problem solution. The three examples below illustrate the construction of cash-flow diagrams.  ° Figure 1. 1 A typical cash-flow time scale. Year 1 Year 5 r=;:;; r+;:;. I 1 2 Time o I I 3 4 I 5 Terminology and Cash-Flow Diagrams 15 + Figure 1. 2 Example of positive and negative cash flows. 2 3 Time Example 1. 9 Consider the situation presented in Example 1. 5, where P = $2000 is borrowed and F is to be found after 5 years. Construct the cash-flow diagram for this case, assuming an interest rate of 12% per year. Solution Figure 1. 3 presents the cash-flow diagram. Comment While it is not necessary to use an exact scale on the cash-flow axes, you will probably avoid errors later on if you make a neat diagram. Note also that the present sum P is a receipt at year 0 and the future sum F is a disbursement at the end of year 5. Example 1. 10 If you start now and make five deposits of $1000 per year (A) in a 17%-per-year account, how much money will be accumulated (and can be withdrawn) immediately after you have made the last deposit? Construct the cash-flow diagram. Solution The cash flows are shown in Fig. 1. 4. Since you have decided to start now, the first deposit is at year 0 and the [lith Comment deposit and withdrawal occur at the end of year 4. Note that in this example, the amount accumulated after the fifth deposit is to be computed; thus, the future amount is represented by a question mark (i. e. , F = ? ) Figure 1. 3. Cash-flow diagram for Example 1. 9. + P = $2. 000 i = 12% o 2 3 4 5 Year F= ? 16 Figure 1. 4 Cashflow diagram for Example 1. 10. Level One F= ? i = 17†³10 2 0 3 4 Year A=$1. 000 Example 1. 11 Assume that you want to deposit an amount P into an account 2 years from now in order to be able to withdraw $400 per year for 5 years starting 3 years from now. Assume that the interest rate is 151% per year. Construct the cash-flow diagram. Figure 1. 5 presents the cash flows, where P is to be found. Note that the diagram shows what was given and what is to be found and that a P value is not necessarily located at time t = O. Solution Additional Examples 1. 18 to 1. 20 Probs. 1. 30 to 1. 46 Additional Examples Example 1. 12 Calculate the interest and total amount accrued after 1 year if $2000 is invested at an interest rate of 15% per year. Solution Interest earned = 2000(0. 15) = $300 Total amount accrued = 2000 + 2000(0. 15) = 2000(1 + 0. 15) = $2300 Figure 1. 5 Cashflow diagram for Example 1. 11. A = $400 o 2 3 4 5 6 7 Year p=? Terminology and Cash-Flow Diagrams 17 Example 1. 13 a) Calculate the amount of money that must have been deposited 1 year ago for you to have $lOQO now at an interest rate of 5% per year. b) Calculate the interest that was earned in the same time period. Solution a) Total amount accrued = original deposit + (original deposit)(interest rate). If X = original deposit, then 1000 = X + X(0. 5) = X(l + 0. 05) 1000 = 1. 05X 1000 X=-=952. 38 1. 05 Original deposit = $952. 38 (b) By using Eq. (1. 1), we have Interest = 1000 – 952. 38 = $47. 62 Example 1. 14 Calculate the amount of money that must have been deposited 1 year ago for the investment to earn $100 in interest in 1 year, if the interest rate is 6% Per year. Solution Let a = a = = total amount accrued and b = original deposit. Interest Since a Interest Interest b b + b (interest rate), interest can be expressed as + b (interest rate) b =b = b (interest rate) $100 = b(0. 06) b = 100 = $1666. 67 0. 06 Example 1. 5 Make the calculations necessary to show which of the statements below are true and which are false, if the interest rate is 5% per year: (a) $98 now is equivalent to $105. 60 one year from now. (b) $200 one year past is equivalent to $205 now. (c) $3000 now is equivalent to $3150 one year from now. (d) $3000 now is equivalent to $2887. 14 one year ago. (e) Interest accumulated in 1 year on an investment of $2000 is $100. Solution (a) Total amount accrued = 98(1. 05) = $102. 90 =P $105. 60; therefore false. Another way to solve this is as follows: Required investment = 105. 60/1. 05 = $100. 57 =P $9? Therefore false. b) Required investment = 205. 00/1. 05 = $195. 24 =p $200; therefore false. 18 Level One (e) Total amount accrued = 3000(1. 05) = $3150; therefore true. (d) Total amount accrued = 2887. 14(1. 05) = $3031. 50 â€Å"# $3000; therefore false. (e) Interest = 2000(0. 05) = $100; therefore true. Example 1. 16 Calculate the total amount due after 2 years if $2500 is borrowed now and the compoundinterest rate is 8% per year. Solution The results are presented in the table to obtain a total amount due of $2916. (1) (2) (3) (4) = (2) + (3) (5) End of year Amount borrowed $2,500 Interest Amount owed Amount paid o 1 2 Example 1. 17 $200 216 2,700 2,916 $0 2,916 Assume that 6% per year, starting next withdrawing Solution P = you plan to make a lump-sum deposit of $5000 now into an account that pays and you plan to withdraw an equal end-of-year amount of $1000 for 5 years year. At the end of the sixth year, you plan to close your account by the remaining money. Define the engineering-economy symbols involved. $5000 A = $1000 per year for 5 years F = ? at end of year 6 i = 6% per year n = 5 years for A Figure 1. 6 Cashflow diagram for Example 1. 18. $650 $625 $600 $575 $ 550 $525 $500 $625 t -7 -6 -5 -4 -3 -2 -1 t o Year P = $2,500 Terminology and Cash-Flow Diagrams 19 Example 1. 1B The Hot-Air Company invested $2500 in a new air compressor 7 years ago. Annual income â€Å"-om the compressor was $750. During the first year, $100 was spent on maintenance, _ cost that increased each year by $25. The company plans to sell the compressor for salvage at the end of next year for $150. Construct the cash-flow diagram for the piece f equipment. The income and cost for years – 7 through 1 (next year) are tabulated low with net cash flow computed using Eq. (1. 5). The cash flows are diagrammed . Fig. 1. 6. Solution End of year Net cash flow Income Cost -7 -6 -5 -4 -3 -2 -1 0 1 Example 0 750 750 750 750 750 750 750 750 + 150 $2,500 100 125 150 175 200 225 250 275 $-2,500 650 625 600 575 550 525 500 625 1. 19 Suppose that you want to make a deposit into your account now such that you can withdraw an equal annual amount of Ai = $200 per year for the first 5 years starting 1 year after your deposit and a different annual amount of A2 = $300 p er year for the following 3 years. How would the cash-flow diagram appear if i is 14! % per year? Solution The cash flows would appear as shown in Fig. 1. 7. Comment The first withdrawal (positive cash flow) occurs at the end of year 1, exactly one year after P is deposited. Figure 1. 7 Cash-flow diagram for two different A values, Example 1. 19. A2 = $300 A, = $200 0 1 2 3 4 i = 14+% 5 6 7 8 Year p=? 20 Level One p=? j = 12% per year Figure 1. 8 Cash-flow diagram for Example 1. 20. F2 1996 1995 A = $50 A = $150 = $50 F, = $900 Example 1. 20 If you buy a new television set in 1996 for $900,. maintain it for 3 years at a cost of $50 per year, and then sell it for $200, diagram your cash flows and label each arrow as P, F, or A with its respective dollar value so that you can find the single amount in 1995 that would be equivalent to all of the cash flows shown. Assume an interest rate of 12% per year. Solution Comment Figure 1. 8 presents the cash-flow diagram. The two $50 negative cash flows form a series of two equal end-of-year values. As long as the dollar values are equal and in two or more consecutive periods, they can be represented by A, regardless of where they begin or end. However, the $150 positive cash flow in 1999 is a single-occurrence value in the future and is therefore labeled an F value. It is possible, however, to view all of the individual cash flows as F values. The diagram could be drawn as shown in Fig. . 9. In general, however, if two or more equal end-of-period amounts occur consecutively, by the definition in Sec. 105 they should be labeled A values because, as is described in Chap. 2, the use of A values when possible simplifies calculations considerably. Thus, the interpretation pictured by the diagram of Fig. 1. 9 is discouraged and will not generally be used further in this text. p=? j = 12% per year F. = $150 1. 9 A cash flow for Example 1. 20 considering all values as future sums. Figure 1996 1995 1997 1998 1999 F2 = $50 F3 = $50 F, = $900 How to cite Engineering Economics, Papers

Web Site Proposal Essays - Optometry, Corrective Lenses, Lens, LASIK

Web Site Proposal November 13, 1998 Executive Summary(rudimentary) I propose to develop a web site for anyone in the sunglass, contact lens, colored contact lens or laser vision correction market. The most important features included in this site must be: savings, convenience and top quality products. It is necessary to tie all aspects of the site together smoothly. By this I mean the shopper must have the ability to purchase at any point In the site, as well as the ability to get anywhere from anywhere. We must outline our available products and services in such a way as to make it a "No Brainer" for anyone. Our available products must be outlined from the onset. If vendors need to be contacted to develop a wholesale relationship then this must be taken care of as soon as possible. We must assess which products will maximize our profit, which will maximize our marketability and which are just of necessity to carry. We must develop a database of products and maintain prices, additions and subtractions accordingly. One service I had in mind was to develop a free service for anyone interested in laser vision correction. We can develop an application where the patient inputs his/her doctor's written Rx or their contact lens box/bottle prescription, and we can take this information and develop a sort of internet merge letter. By this I mean, we can send them an email response as to their current eye condition, the best suited surgical procedure for their condition, history of other's w/ their Rx & results and maybe even doctors in their area. I understand this might take away from the promotion of INSIGHT, but remember, anything free ? keeps em' coming back!! This will more marketing tool to draw people in, rather than a service. Also, some production company or another could be contracted out to develop videos which we could sell to candidates, doctors, surgeons, etc... Dr. Sopher could develop a video directed to practicing optometrists interested in sales techniques in the EXAMINATION room.

Tripping In The Trap essays

Tripping In The Trap essays ...

How to Grow Crystals - Tips and Techniques

How to Grow Crystals - Tips and Techniques Do you want to learn how to grow crystals? These are general instructions for growing crystals that you can use for most crystal recipes. Here are the basics, to get you started and help you troubleshoot problems: What Are Crystals? Crystals are structures that are formed from a regular repeated pattern of connected atoms or molecules. Crystals grow by a process termed nucleation. During nucleation, the atoms or molecules that will crystallize (solute) are dissolved into their individual units in a solvent. The solute particles contact each other and connect with each other. This subunit is larger than an individual particle, so more particles will contact and connect with it. Eventually, this crystal nucleus becomes large enough that it falls out of solution (crystallizes). Other solute molecules will continue to attach to the surface of the crystal, causing it to grow until a balance or equilibrium is reached between the solute molecules in the crystal and those that remain in the solution. The Basic Crystal Growing Technique Make a saturated solution.Start a garden or grow a seed crystal.Continue growth. In order to grow a crystal, you need to make a solution which maximizes the chances for the solute particles to come together and form a nucleus, which will grow into your crystal. This means you will want a concentrated solution with as much solute as you can dissolve (saturated solution). Sometimes nucleation can occur simply through the interactions between the solute particles in the solution (called unassisted nucleation), but sometimes its better to provide a sort of meeting place for solute particles to aggregate (assisted nucleation). A rough surface tends to be more attractive for nucleation than a smooth surface. As an example, a crystal is more likely to start forming on a rough piece of string than on the smooth side of a glass. Make a Saturated Solution Its best to start your crystals with a saturated solution. A more dilute solution will become saturated as the air evaporates some liquid, but evaporation takes time (days, weeks). You will get your crystals more quickly if the solution is saturated to begin with. Also, there may come a time when you need to add more liquid to your crystal solution. If your solution is anything but saturated, then it will undo your work and actually dissolve your crystals! Make a saturated solution by adding your crystal solute (e.g., alum, sugar, salt) to the solvent (usually water, although some recipes may call for other solvents). Stirring the mix will help to dissolve the solute. Sometimes you may want to apply heat to help the solute dissolve. You can use boiling water or sometimes even heat the solution on the stove, over a burner, or in a microwave. Growing a Crystal Garden or Geode If you just want to grow a mass of crystals or a crystal garden, you can pour your saturated solution over a substrate (rocks, brick, sponge), cover the setup with a paper towel or coffee filter to keep out dust and allow the liquid to slowly evaporate. Growing a Seed Crystal On the other hand, if you are trying to grow a larger single crystal, you will need to obtain a seed crystal. One method of getting a seed crystal is to pour a small amount of your saturated solution onto a plate, let the drop evaporate, and scrape the crystals formed on the bottom to use as seeds. Another method is to pour saturated solution into a very smooth container (like a glass jar) and dangle a rough object (like a piece of string) into the liquid. Small crystals will start to grow on the string, which can be used as seed crystals. Crystal Growth and Housekeeping If your seed crystal is on a string, pour the liquid into a clean container (otherwise crystals will eventually grow on the glass and compete with your crystal), suspend the string in the liquid, cover the container with a paper towel or coffee filter (dont seal it with a lid!), and continue to grow your crystal. Pour the liquid into a clean container whenever you see crystals growing on the container. If you selected a seed from a plate, tie it onto a nylon fishing line (too smooth to be attractive to crystals, so your seed can grow without competition), suspend the crystal in a clean container with saturated solution, and grow your crystal the same way as with seeds that were originally on a string. Preserving Your Crystals Crystals that were made from a water (aqueous) solution will dissolve somewhat in humid air. Keep your crystal beautiful by storing it in a dry, closed container. You may wish to wrap it in paper to keep it dry and prevent dust from accumulating on it. Certain crystals can be protected by being sealed with an acrylic coating (like Future floor polish), although applying the acrylic will dissolve the outermost layer of the crystal. Crystal Projects to Try Make Rock Candy or Sugar CrystalsBlue Copper Sulfate CrystalsCrystallize a Real FlowerQuick Cup of Refrigerator Crystals

Accounting Class, pick topic below Essay Example | Topics and Well Written Essays - 2000 words

Accounting Class, pick topic below - Essay Example While some individuals intend to work for as long as they can, particularly because idleness and loss of accustomed status can bring depression, illness, and even early death, it is always pleasant to contemplate that one has a nest egg to fall back on when a contingency or extreme need for money arises. "Whatever your situation - even if you want to continue working - youll need to do some planning for the future." (Shwab-Pomerantz & Schwab, 2002). Thus everyone should begin to plan for retirement even during the first few years of employment or starting a business. Retirement planning, according to the Small Business Encyclopedia, describes the financial strategies individuals employ during their working years to ensure that they will meet their goals for financial security upon retirement. This applies to self-employed persons, small business owners, and employees of companies large and small (Retirement planning, SBE) Retirement planning was unknown prior to the twentieth century because the US national economy and presumably the economies in other parts of the world were still predominantly agrarian. Farmers toiling in the fields continued to work until they could no longer do physical labor, and transferred ownership and management of their properties to their eldest children in return for services to them during their old age (US History Encyclopedia). Even with the onset of industrialization, there were still a limited number of employees, and farming continued to dominate as a means of livelihood. As workers aged, they continued to work using their skills and wisdom in lieu of strength and stamina to remain employed in their later years. (Retirement planning, US) Later, because of concerns about productivity and efficiency in the workplace, it was deemed necessary to replace aging workers with young and strong ones. There was concern and apprehension about these

Analyze Abbott Laboratory's strategic response to compulsory licensing Article

Analyze Abbott Laboratory's strategic response to compulsory licensing - Article Example Abbott laboratory strategically responded to compulsory licensing by publicly announcing that it is going to withdraw the pending applications for selling current medicines in Thailand. Applications for seven medicines were withdrawn by Abbott. The medicines which Abbott withdrew their applications were Aluvia, Brufen, Abbotic, Clivarine, Humira, Tarka and Zemplar. It decided not to introduce new drugs in Thailand since the actions displayed by Thailand’s government did not respect patents. Several advantages and disadvantages can be associated with abbot laboratory’s strategic response to compulsory licensing (Baron, 2008). Strategic response employed by Abbot Laboratory proved to be advantageous since it created room for negotiation. Abbott’s strategic response made Thailand government to realize how important the organization is in pharmaceutical industry. Its strategic response made Thailand government to raise several complaints. This therefore made world health organization to intervene and discussed with Abbott on how to market its products in developing countries, including Thailand. Abbott’s strategic response also had some weaknesses. The response had a serious effect on patients. It deprived innocent individuals who seriously required lifesaving drugs. The strategic response also showed that Abbott laboratory lacks social responsibility and only mind about maximizing its profits. From the discussion, it is clear that Thailand easily issued compulsory licensing for Abbott laboratory product, causing the organization to angrily react. Abbott angrily reacted to the action by stopping introducing new medicines in Thailand. This strategic response created room for negotiation and caused serious effects on patients and company’s

Violence In Romeo And Juliet Essay -- essays research papers

Romeo and Juliet, by Shakespeare, is a play which shows how prejudice leads to escalating violence. Prejudice leads to violence shown in the play when the feuding families, the Montagues and Capulets, fight. In each case, disruption, fighting, injuries and death occur. Also, the prejudice between the two families never was resolved, because they were enemies. The feuding started in Act 1 Scene 1, when the Capulets and Montague servants confronted each other. The Capulets’ servants insult the Montagues and this leads to a street brawl of the two families. Furthermore, in Act 3 Scene 1, the hatred between the families gets worse. When Tybalt wanted revenge against the Montagues, he then confronted Romeo and Mercutio and started a duel. In addition, the feud between the families got even worse, when Tybalt killed Mercutio. Also, in Act 5 Scene 3, Tybalt challenges Romeo to fight and Romeo kills him. The street in Verona, a public place, is where the feuding starts between the two families. In Act 1 Scene 1, Sampson and Gregory, servants for the Capulets, insulted the Montagues’ servants, Balthasar and Abraham. This leads to a fight, which involves the Lords of both families and the Prince. No death occurred, but the families’ attitudes against each other were worse than before. This created hate between the families, which lead to violence. In like manner, another duel between the two feuding families starts up, again, in the street of Verona in Act 3 Scene 1. When Merc...

Research design: Qualitative, quantitative, and mixed methods approaches Essay

Qualitative Research Design Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Qualitative research design is an approach used in research by researchers and scientists to study the behaviour and habits of human beings in the society. According to Flick, (2009 p. 17) the research design is used in various fields such as health, social sciences, business and other social sciences to study different behaviours. In health, qualitative research may be used to study issues on health awareness, availability of health facility, and access to primary, secondary, and tertiary healthcare services. The data obtained is then used as the basis for health improvement recommendations.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Consequently, the qualitative research design can be applied in business to study the problems affecting business and how solutions can be modelled to improve performance of the industry. According to Saunders et al., (2012 p. 6) business research is a systematic research aimed at studying problems and solutions to business.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   From the fact that business is a wide field, the design is also adapted in specific disciplines of business such as product design, marketing, advertisement, human resource, and studying new business opportunities. For example, in product design, the designers may want to obtain data about the existing products based on consumers’ feedback and use the information to improve or design new product using interviews, focus groups or ethnographic studies. Similarly, the same approach can be used in market research to establish the demand of certain products and the product penetration in the market. The researcher prepares questions to be used in either interviews or focus group. The information obtained from the interviews is then analysed to understand the demand of a given product in the market.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Example of qualitative research for product designer may include: product designers may want to study the gap in the market for a certain product for them to introduce new product that meet consumers’ tastes and preference. The designer may opt to interview several people in the targeted area and ask questions that may give information about the gap in the existing products. For example, they may obtain information about a detergent that does not work effectively to remove stains and thus design a new product that would meet consumers taste and preferences. Hence, qualitative research design forms the most efficient tool to obtain the data required to make the decision.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The design is also used as a lead for quantitative design. The viability of hypothesis is tested through the qualitative design and then proved using the quantitative design through mathematical analysis. Hence, the design is very important for preliminary studies where the researcher may want to gather information about the topic before embarking on detailed quantitative research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   According to Siegel & Olshansky, (2012 p. 53) there are several approaches used to obtain the data in qualitative design, which include: Interviews Focus groups Ethnographic research   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The interviews and the focus groups will be studied in details in the rest of the paper through critical evaluation and analysis to understand the application and how their cons can be improved in order to improve qualitative research design. Interviews   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Interviews involve questions and answer session between the researcher and the participants (DiCicco†Bloom, & Crabtree, 2006 p. 317). The researcher or the interviewer asks the questions while the participant responds to them based on his experience or the knowledge about the questions. The interviewer guides the respond throughout the interview until all the questions are answered comprehensively. The interview may involve individuals or groups. According to Seidman, (2013 p. 113) interviews can be carried out through various methods such as; face-to-face interactions, telephone or electronic devices such as internet-enabled computer.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are different types of interviews depending on how they are carried or how the interview questions are structured. The paper will elaborate, evaluate and analysed four forms of interviews namely: Structured interview Semi-structured interviews Unstructured interviews and Iinformal interviews Types of interviews   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The types of interviews are discussed based on Creswell, (2014 p. 189) explanations. Structured interviews   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   They are the main tool of research when the researcher has well understanding of the research topic. This is because the researcher is able to formulate all the possible research questions and get as much information from the participants as possible. The researcher may be interested in proving a theory or previous studies. Hence, interview is based on the literature reviewed or observations related to the topic during less structured interviews. The interview is developed using topic specific and close-ended questions. This is from the fact that the researcher has well understanding of the topic and scope and thus limits the information that he or she should obtain from the participants. Although the researcher is able to obtain information that is specific to his or her study, it may be hard for the respondent to answer all the questions well since he may be limited to answers. In addition, lack of knowledge about a certain question may result in incomplete interviews. Semi-Structured interviews   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The interview is used when the researcher has limited time, respondent availability is not guaranteed, and thus different people conduct the interview in the field at the same time. The interview has well explained instructions to guide the interviewers in order to provide accurate and qualitative data in addition to trainings meant for understanding the topic. The interviews are preceded by informal interviews and observations in order to help the researcher to understand the topic in order to develop the semi-structured interview. The interview questions are mainly open ended and thus the respondent has the freedom to answer the questions in his own understanding and experience. The interview becomes interesting when the respondent understands the topic and thus he or she may give as much information as possible. The additional information can be noted in a notebook to support the data during presentation. Unstructured interviews   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   They are carried out when the researchers lack enough understanding on the topic and hence have allowance for additional information from the respondent. The researcher tries to gets as much information from the respondent as possible in order for him or her to build on the existing information. The questions are open ended and the researcher has no influence on the respondents’ answers. However, the researcher has a clear understanding of the research setting. Informal interviews   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The method is commonly used for social research and or during the early set up of the study. In this type of interview, the researcher aim is to obtain as much information from participants as possible. This is because the topic is poorly understood and there is little literature on the topic and thus information can only be obtained from primary sources to build on the existing information. Most informative interview approach are carried out for studies that are based on experience, interests, or a given culture that is not researched and so the researcher uses observations to develop more understand of the inquiry and develop a rapport. Like the structured, the interview questions are open ended as the respondent’s information is crucial towards development of the study. Pros of the interviews Accurate data   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   According to Seidman, (2013 p. 1oo) interviews give more accurate data than other data collection methods. The researcher explains to the respondents some questions that might be difficult of him or her and thus end up getting the required information. In addition, the researcher explore the topic or questions using probe that enables him or her to get more information and details, which results in more accurate data. That is, the researcher has a chance to clarify and explain some questions that the interviewee my lack the knowledge and understanding thus getting the intended information.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The interview provides a rich data with details and insights about the topic. The respondent describes his or her own understanding on the topic with the help of the researcher. In addition, the researcher can create a favourable environment for the interview thus resulting in general and sensitive information that is important to the study compared to other methods of data collection such as questionnaires and focus group. For example, in focus group, the interactions of a number of respondents at the same time may hinder discussion of sensitive information due to lack of confidentiality. However, interview between the researcher and respondent only creates a favourable environment to give all types of information. Feedback   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There is direct response from the interviewee and the feedback. This ensures that the information sought is obtained and in case of disparity. In addition, the researcher ensures that the information is obtained from the intended person. In other types of methods such as questionnaires, information may be obtained from unintended person. Observations   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Interviews can be carried out at the same time with observations to gain more understanding and information on the topic. Unlike other methods used in research, interviews allow researcher to make observations that may be important source of information. In addition, the research may compare the information from the respondents and what he or she observes and inquire for clarity when disparity is noticed. Building Rapport   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Close interactions between the researcher and interviewee creates a more relaxed environment, which results to the respondent answering questions based on his or her experience rather than giving direct answers to the topic. The researcher then use the information obtained from the researcher to build a rapport with topic. The researcher may explore additional information from the respondent that may help to develop more understanding on the topic Flexibility   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Interviews are conducted at any time, locations, or based on the circumstances of the individual,. Thus, they are the most convenient method of data collection. For example, the researcher can conduct interviews in residential areas, trading areas, farming locations and any other place that may be convenient to the respondent. Cons of interviews   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Time-consuming: the process of scheduling, conducting, and analysing the interviews consumes a lot of time (Zikmund, 2013 p. 150). The process of visiting the respondents and carrying the interview face-to-face can be tedious and time consuming. Since huge data is obtained from interview, it becomes tedious to enter the data and a lot of time is consumed. Therefore, it is important to have a data entry and analysis plan before data collection. Costly   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The interviews are costly because they require the interviewers to be trained, the schedules to visit respondents to be prepared and the actual interview process. They require physical participation of respondent and the researcher. Biasness   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The physical appearance of the interviewee may affect the attitude of the respondent and thus giving biased information that may affect the accuracy of the data. Other factors that may results in biased information include the respondents’: voice tone and opinion, gender and race, inadequate note taking. Biasness affects the main purpose of the study, which may produce contradicting data from the existing one. This can mislead future studies that may rely on the data. Inconsistencies   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The flexibility of the interviews may result in inconsistence data during interactions due to variation in interview setting such as changing environment. For example- interruption of interviews by passersby or other factors such as rain can make the respondent to lose track and give inconsistence information Focus groups   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Focus group involves collection of data through semi-structured interview from a group of respondents who are identified based on diverse but related characteristics to form a diverse group that represent the actual population. The interview is moderated by a group leader and involves discussion of a specific topic. Fiske and Merton introduced the method during their studies that were based on audience participants (Sprenkle & Piercy, 2005 p. 87) Pros of focus group Developing research topic   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Focus group give information to the researcher about a given subject, which help him or her to develop the topic and build rapport. The aim of the focus group is to obtain as much information as possible that is necessary for the study and thus it is a common method for preliminary study. Time saving   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Large amount of data from a big population can be obtained within the shortest time possible (Hesse-Biber, & Leavy, 2011 p. 164). Data is collected from groups of respondents at the same time. This is in contrary to interviews where the questions are asked to a single respondent for a given time and it may take a lot of time to cover a given number of respondents as opposed to focus groups. Accurate data:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The discussion involves the consensus among the group members. In case of diverse information, members agree on given information that giving accurate and homogeneous data The data is also specific on the researchers’ topic. Economical:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Huge data can be summarized using group consensus and thus data entry and analysis is cheap and time saving as opposed to interviews where huge amount is obtained from very large number of respondents Observations:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Just like interviews, the researcher can get additional data from the participants’ behaviour, feelings and thought about the topic. In addition, focus group helps to generate information for a study that could have unobservable features. Cons of focus group Biasness   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The moderator of the group or the researcher makes the final judgment and interpretation of the discussion. Subjective judgment and poor interpretation has high risk of introducing personal businesses in the discussion and thus biased data. The participants may tend to follow the initial opinions thus resulting in biased results Risk of incomplete and inaccurate data   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The planning, scheduling and contacting participants may be costly and involving and thus poor management may result to incomplete study that may affect the quality of data collected. Sensitive information   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is not a good method for addressing sensitive issues. This is because people may feel uneasy sharing sensitive information among their friends or enemies that might be in the group, which may have a negative contributory factor to the quality of data obtained. Addressing the interview cons Time consuming   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The use of alternative means of communication such as telephone and computer can decrease the time spent in scheduling and visiting the respondents. Therefore, avoiding face-to-face interviews can help to save time and making the method more economical. Time that could be spent to travel to respondent and carry physical interview is minimised. Planning should also be done prior to the study in order to avoid time wasting during the actual study. Costly   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Activities such as data entry and analysis can be carried along with the interviews to ensure that no additional cost that is incurred during independent data entry. Minimised travelling through phone interviews would cut down on cost. Biasness   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Presentable physical appearance should be encouraged. The physical appearance of the interviewer that would not have influence on respondents should be emphasized during training. Interviewers should be discouraged from making subjective judgments that would affect the interactions. Inconsistencies:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The interview should be conducted in a neutral environment that has no effect on information delivery. The researcher should spend a considerable good amount of time in looking for a natural setting for the interview conducive for the respondents (Merriam, & Merriam, 2009 p. 17). For example, interviews in closed rooms may have minimal interference, thus maintain consistence information delivery, and thus maintain high quality data. Addressing focus group cons Biasness:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In order to avoid biasness, the moderator of the focus group should be well trained about making subjective judgment and interpretations. Good relationship between respondents and the researcher promotes mutual understanding that contributes to accurate interpretations of the information (Marshall, & Rossman, 2011 p. 101). The moderator should not be an active part of the study and should be limited to the information on the expected result of the study. Risk of incomplete and inaccurate data:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Proper management should be done prior to the study so that all the scheduling and contacting of the participants is made in time. This will ensure that the participants are aware of the scope of the study and their roles and thus the study will be complete successfully. When participants are well-prepared psychologically, they become patient and go through the whole process thus giving complete data. Sensitive information   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The moderator should inform the participants about the confidentiality of the information shared in the focus group and create a friendly environment. This will give the participants confidence and freedom to share all the information that they may have including the sensitive one and thus the quality of the data will not be compromised. Participants may feel that some issues belong to the community and that it should not be addressed to a stranger. The researcher may also involve people from the communities to help them moderate the discussion and thus creating favourable environment for discussing sensitive information that is vital to the final data. References Creswell, J. W. (2014).  Research design: Qualitative, quantitative, and mixed methods approaches. Thousand Oaks, California: SAGE Publications. DiCicco†Bloom, B., & Crabtree, B. F. 2006. The qualitative research interview.Medical education,  40(4), 314-321. 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