Facebook IPO Essay

Facebook, a social networking site, has grown at an exponential rate that far surpasses market expectation, so much so that its growth rate is referred to as the â€Å" Facebook phenomenal†. In 2004, Facebook had 1million monthly active users, and in comparison, it had reached 845million monthly active users in 2011. This phenomenal led to one of the biggest initial public offerings (IPO) the market had seen in recent years, with total capital raised to be valued at $16B, given the $38 per share offering price. Facebook was valued at around $96.6B in total. Prior to the IPO, the market perceived the valuation with positive approval signaled by both Facebook’s private market share auctions and analyst’s reviews. However, as it will be examined below, Facebook has been significantly over-valued by the underwriters. In addition, the market changed its opinion of Facebook shortly after the IPO, criticizing the valuation of the company was too high. The differences in market reaction showcase shortfalls in valuation, and it is recommended that analysts and Facebook should have used real option to valuate its market value. Over-valuation There are three main reasons why Facebook is overvalued at $38 per share. Aggressive Assumptions made by underwriters The first reason is the $38 per share price is based on overly aggressive assumptions made on Facebook’s future revenue. Facebook generates its revenue in two ways – display advertisements on its website and retain royalties from third-party developers for using Facebook’s online payment platform. Out of the two streams of revenue, advertisement accounts for about 82% of the total revenue, and royalty payment only accounts for 18%. Lead underwriter Morgan Stanley, has justified its pricing based on the assumptions that Facebook’s revenue will grow moderately considering the increasing popularity of its mobile app. Morgan Stanley estimated Facebook revenue to grow at 28% CAGR from 2013 – 2016, with advertising revenue growing at 31% and payment revenue growing at 17% per year. However, it is arguable that these assumptions are overly aggressive, and they will be extremely hard to realize. Upon examining the future prospect of revenue generated from advertising, it can be said that the estimated 31% growth rate cannot be achieved. First of all, given the online advertising market size, and current Facebook market share, Facebook will not be able to achieve the projected annual growth. In 2011, Facebook’s share of the online advertising market is 27% of the $25B industry. It is projected that the online advertising sector will grow to $45B in 2015, and given Facebook’s current market share, Facebook should be able to generate $12.15B in advertising revenue in 2015. However, this only accounts for 20% CAGR. Second, it is uncertain whether Facebook will be able to continue maintain its 27% market share. Facebook disclosed to the public that its current advertisers do not have long-term advertising commitment with Facebook, and many of its advertisers only spend a small proportion of their marketing budget with Facebook. In addition, many companies have started to question the effectiveness Facebook ads. Facebook differentiates its service by emphasizing the premise that ads are more effective if a friend recommends it on Facebook compares to traditional online advertising. It can be observed that companies, such as GM, are starting to doubt the effectiveness of the so-called social advertising by pulling out their ads on Facebook. This can significantly impact Facebook’s share of online marketing in the future. In addition, Facebook disclosed to the public that it might not be able to retain advertisers if it does not reduce its current ad price. However, considering that Facebook is already pricing its ads lower compares to other websites – Facebook charges $0.58 per click vis-à  -vis the industry norm of $1, it is hard to argue that Facebook will maintain its current revenue level even if it retains 27% of market share as it continues to reduce its ad price. Given the factors mentioned, it can be concluded that the estimated 31% growth rate in advertising revenue is overly aggressive. In addition, Morgan Stanley estimated royalty revenue would grow by 17%; however, by looking at the current royalty revenue, it is unlikely that Facebook will achieve the predicated growth rate. Facebook collects royalty payments from developers that use its payment infrastructure to charge players. Currently, Zynga accounts for a substantial portion of the royalty. Considering the intensified competition that Zynga is facing, and its lack of ability to monetize mobile apps, Zynga will continue to experience sagging growth and will not be able to contribute a substantial amount of royalty to Facebook in the foreseeable future. Thus, it is unlikely that Facebook will achieve 17% growth in its royalty revenue. Lastly, Morgan Stanley made these aggressive assumptions based on the premise that Facebook will be able to monetize its mobile app. However, Facebook has not been able to monetize its mobile app to-date. In addition, with the growing number of users using the mobile app as a substitute for accessing Facebook, Facebook is starting to see a decrease in its revenue, which led to the decrease in its stock prices after the IPO. Overall, the assumptions made by underwriters to justify the $38 per share IPO price are overly aggressive. Estimated fair value of common shares is much lower than $38 Facebook has estimated its Class B common stock to be at $30.89 per share as of Jan 31, 2012, and even if one continues with the aggressive estimation method that Facebook used, one will not reach the $38 per share valuation. Facebook adopted a mix of Discounted Cash Flow Method (â€Å" DCFM†), Guideline Public Company Method (â€Å"GPCM†), and Market Transaction Method (â€Å"MTM†) to determine its business enterprise value and fair value of its private share price prior to the IPO. To achieve the price of $30.89, Facebook assigns a 50% weight to the MTM, where it considers the volume of transaction of its private shares, the timing of these transactions, the pricing of private shares in the secondary market, and whether the investors involved in the transaction have access to Facebook’s financial information. It then assigns 25% weight to GPCM and DCFM each to determine fair value. GPCM uses multiples of financial ratios in comparable companies in the same industry, and DCFM sums up the net present value of future cash flow at a discount rate of 15%. The discount rate is conservative, given the risk free rate is at 2.3%, beta for IT services is at 1.06, and the market risk premium of 7%. The assigned weight of the method is questionable. Facebook assigns a significant weight to MTM due to the large volume of third-party private stock sales. But considering that the volume transaction and pricing of the private shares were driven by the hype of the Facebook IPO and the positive reactions from the market prior to the IPO, it is hard to justify that the MTM valuation represents the true value of Facebook instead of an inflated hyped-up value. It is arguable that Facebook should have assigned less weight to MTM, and more weight to DCFM and GPCM. In addition, it is hard to justify the $7.11 increase of fair market value in a span of 4 months considering that Facebook share only increased by $5.35 in estimated fair market value between 2011 and 2012. The methods discussed above and the historical estimates support the conclusion that Facebook IPO price is over-priced. Comparable Company Valuation The last reason is based on multiples generated by comparable companies, namely Google and Apple, it can be calculated that Facebook valuation is not close to the $96.6B valuation. See Appendix A. Market Reactions The market has perceived the IPO with positive remarks. One analyst even valued Facebook to be at $234B compares to the $96.6B IPO valuation. Most analysts either thought Facebook was valued right on the spot or thought it was undervalued. The hype about the stock was more obvious in the private market. Prior to its IPO, Facebook stocks were trading at a high of $42 compares to its $30 estimated fair market value. In contrast, immediately after the fall, most analysts jumped on the bandwagon of claiming the underwriters have overvalued the company. Some investors even blamed Mark Zuckerberg for failing to signal to the investors that the company has been overvalued. The difference in market reaction showcased three shortfalls in valuation. They are objective valuation method that fails to account for dynamic business environment, asymmetry of information, and low level of corporate governance. First, the valuation method that most analysts used to valuate Facebook is based on some types of discounted cash flow method. Analysts will look at future growth prospective of the company, and discount the estimated profit by a discount rate that would be appropriate to capture risks that are foreseeable given the historical financial record. In addition, the traditional discounted cash flow method depends on obtaining information that would allow one to correctly forecast future earnings and free cash flow, and to assess the strength of company management and future earning abilities. The model ignores that companies could change their business practices to the dynamic business environment that cannot be properly valuated based on historical data. Facebook does not provide adequate information to allow analysts to generate reliable valuations. It has limited record of its profits, its revenue has been highly volatile, and the business environment it operates in changes frequently. One instance that the underwriters may have overlooked is Facebook’s ability to monetize its mobile app as mentioned above. The underwriters may have ignored the importance of substitution of web-accessed Facebook usage by the mobile app accessed usage at the time of the valuation given that this risk was not reflected in historical revenue record. The second challenge relates to valuation is asymmetry of information, which is arguable that it had drove up investor expectation that a â€Å"free lunch† scenario will take place. Morgan Stanley was sued and fined for only disclosing softer revenue and profit forecasts to selective investors prior to the IPO and for failing to disclose the cannibalization of Facebook revenue by the increasing popularity of its mobile app adequately to retail investors through the prospectus. Investors with the additional information were able to make a better-informed decision of whether to purchase Facebook share or not. The asymmetry of information also led to market hype. Investors, without the softer revenue and profit forecasts, interpreted the market price to be much higher than the private trade price prior to the IPO and the IPO price. This drove the private share price to $42 from $34 on the secondary market. Investors thought by buying shares before IPO, they would be able to rip a bigger profit considering that the market price will be higher than $38. Lastly, the asymmetry of information led investors to believe that it will be extremely hard to buy Facebook stocks at IPO price given the mentality that the demand for the shares will not meet the supply despite the fact that  ¾ of Class B shares are locked in to be sold at a later time. The market hype, combined with the surging demand of shares and the lack of investor rationality drove the valuation of the company to be higher than what it really is. The last challenge is the lack of corporate governance. As investors have pointed out, the CEO of the company and the underwriters should have disclosed the information adequately in the prospectus. The lack of corporate governance could be driven by the lack of serious fine for improper disclosure of information. Morgan Stanley was only fined $5M compares to the $68M underwriting fee it gained from the deal. Also, the lack of governance was driven by hubris and greed. The underwriters stand to gain a bigger underwriting fee for a higher IPO price, and the company stands to gain more capital for higher IPO price. In addition, it is also easier for the underwriter to justify its valuation for a company that cannot be properly valuated based on the traditional discounted cash flow method. The combinations of driver lead to lack of corporate governance in this case. Suggested Valuation Method It is suggested that analysts and Facebook should have used real options to valuate the company given the volatility of the business environment Facebook is in, and the ever-changing business practices to meet these volatilities. Real option valuation allows the company to include R&D, brand development, and technology initiatives to be built into its valuation. It is also flexible enough to account for company’s ability to change its business practices in the future. Valuation will change in accordance to the options that management will take to delay, expand, contract, switch uses, outsource or abandon projects. Real options would allow Facebook to valuate its new platforms, new mobile apps, and new technology initiatives to renovate Facebook’s current operations. In addition, real option does capture the benefits of discounted cash flow model by assigning weights to future cash flow given the past company performance in the market. Given the current Facebook operation model, it is commended that real options should be used to valuate the company. Conclusion It is extremely hard to valuate a company properly, especially given a company, such as Facebook, which does not have a long history of stable income nor information that would solidify its future earnings. Market reaction prior to and after the Facebook IPO indicates issues within the current valuation models that companies and analysts are using. It is recommended that companies should start to consider using the real option method to valuate companies with similar business characteristics as Facebook. Bibliography Primary source: Facebook. (2012). Registration statement – facebook inc.. (p. 47). Retrieved from http://sec.gov/Archives/edgar/data/1326801/000119312512034517/d287954ds1.htm. Secondary source: Berthelsen, C. (2012). Massachusetts hits morgan stanley on facebook ipo. Wall Street Journal , Retrieved from http://online.wsj.com/article/SB10001424127887324407504578185580869680410.html. Buley, T. (2009). Facing up to facebook’s value. Forbes, Retrieved from http://www.forbes.com/2009/04/06/facebook-advertising-rates-technology-internet-facebook.html. Damodaran. (2012). Betas by sector. Retrieved from http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/Betas.html. Dunand, E. (2012). Morgan stanley fined $5 million over facebook ipo. Reuters, Retrieved from http://www.cnbc.com/id/100322264. Gustin, S. (2012). Do facebook ads work? . Time Magazine, Retrieved from http://business.time.com/2012/08/07/do-facebook-ads-work/. Joiner, S. (Interviewee), & Ruggeri, C. (Interviewee) (n.d.). Valuation issues in a down market Mergers and Acquisitions series : Part 1. [Audio podcast]. Retrieved from http://www.deloitte.com/view/en_LB/lb/centers/cfo-center/3e9619288f709210VgnVCM200000bb42f00aRCRD.htm?theme=cfo. Latimore, D. (2002). Calculating value during uncertainty: Getting real with â€Å"real options†. Retrieved from http://www-935.ibm.com/services/hk/igs/pdf/g510-3248-calculating-value.pdf. Martin, S. (2012). Zynga shares slide nearly 5%. USA Today, Retrieved from http://www.usatoday.com/story/tech/2012/12/17/zynga-apple-app-store-ios-iphone/1775403/. Olanoff, D. (2012, 12 17). Morgan stanley fined $5m over facebook research and handling of ipo by massachusetts. Retrieved from http://techcrunch.com/2012/12/17/morgan-stanley-fined-5m-over-facebook-research-by-massachusetts/. Raice, S. (2012). Is facebook worth $100 billion? . Wall Street Journal , Retrieved from http://online.wsj.com/article/SB10001424052702304584404576442950773361780.html. Smith, R. (2012). Hot item: Pre-ipo facebook shares. Wall Street Journal , Retrieved from http://online.wsj.com/article/SB10001424052970203833004577249512827646658.html. US Treasury. (2012). Daily treasury long term rate data. Retrieved from http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=longtermrate. ——————————————– [ 1 ]. Facebook. (2012). Registration statement – facebook inc.. (p. 47). Retrieved from http://sec.gov/Archives/edgar/data/1326801/000119312512034517/d287954ds1.htm. [ 2 ]. Ibid. p.1 [ 3 ]. Ibid. p.13 [ 4 ]. Olanoff, D. (2012, 12 17). Morgan stanley fined $5m over facebook research and handling of ipo by massachusetts. Retrieved from http://techcrunch.com/2012/12/17/morgan-stanley-fined-5m-over-facebook-research-by-massachusetts/. [ 5 ]. Ibid. [ 6 ]. Raice, S. (2012). Is facebook worth $100 billion? . Wall Street Journal , Retrieved from http://online.wsj.com/article/SB10001424052702304584404576442950773361780.html. [ 7 ]. Ibid. [ 8 ]. Supra Note 1 at p.13. [ 9 ]. Gustin, S. (2012). Do facebook ads work? . Time Magazine, Retrieved from http://business.time.com/2012/08/07/do-facebook-ads-work/. [ 10 ]. Buley, T. (2009). Facing up to facebook’s value. Forbes, Retrieved from http://www.forbes.com/2009/04/06/facebook-advertising-rates-technology-internet-facebook.html. [ 11 ]. Martin, S. (2012). Zynga shares slide nearly 5%. USA Today, Retrieved from http://www.usatoday.com/story/tech/2012/12/17/zynga-apple-app-store-ios-iphone/1775403/. [ 12 ]. Supra Note 1 at p.14. [ 13 ]. Supra Note 1 at p.76. [ 14 ]. Ibid at p.77. [ 15 ]. Ibid. [ 16 ]. Damodaran. (2012). Betas by sector. Retrieved from http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/Betas.html; US Treasury. (2012). Daily treasury long term rate data. Retrieved from http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=longtermrate. Re = 2.3%+1.06(7%) = 9.72% Facebook does not have any long term debt. [ 17 ]. Supra Note 1 at p.78. [ 18 ]. Ibid at p.77 and 78. The estimated fair value of Facebook’s shares $25.54 on Mar 31, 2011, and $30.89 on Jan 31, 2012. [ 19 ]. Supra Note 6. [ 20 ]. Smith, R. (2012). Hot item: Pre-ipo facebook shares. Wall Street Journal , Retrieved from http://online.wsj.com/article/SB10001424052970203833004577249512827646658.html. [ 21 ]. Joiner, S. (Interviewee), & Ruggeri, C. (Interviewee) (n.d.). Valuation issues in a down market Mergers and Acquisitions series : Part 1. [Audio podcast]. Retrieved from http://www.deloitte.com/view/en_LB/lb/centers/cfo-center/3e9619288f709210VgnVCM200000bb42f00aRCRD.htm?theme=cfo. [ 22 ]. Berthelsen, C. (2012). Massachusetts hits morgan stanley on facebook ipo. Wall Street Journal , Retrieved from http://online.wsj.com/article/SB10001424127887324407504578185580869680410.html. [ 23 ]. Supra Note 20.

Pediatric Nurse Practitioner Essay

What’s an NP? A nurse practitioner is a registered nurse who has additional education and training in a specialty area such as family practice or pediatrics. Pediatric and family practice NPs can provide regular health care for kids. Nurse practitioners have a master’s degree in nursing and board certification in their specialty. A pediatric NP has advanced education, skills, and training in caring for infants, children, and teens. Licensed as nurse practitioners and registered nurses, NPs follow the rules and regulations of the Nurse Practice Act of the state where they work. If accredited through the national board exam, the NP will have an additional credential such as Certified Pediatric Nurse Practitioner or Certified Family Nurse Practitioner Task performed by a pediatric nurse practitioner ï‚ · Diagnosing, treating, evaluating and managing acute and chronic illness and disease ï‚ · obtaining medical histories and conducting physical examinations ï‚ · Ordering, performing, and interpreting diagnostic ï‚ · Prescribing physical therapy and other rehabilitation treatments ï‚ · Prescribing pharmacologic treatments and therapies for acute and chronic illness ï‚ · Providing prenatal care and family planning services ï‚ · providing well-child care, including screening and immunizations ï‚ · Providing primary and specialty care services, health-maintenance care for adults, including annual physicals ï‚ · Providing care for patients in acute and critical care settings ï‚ · Counseling and educating patients on health behaviors, self-care skills, and treatment options Education requirements An advanced degree in nursing is required for pursuing a career as a pediatric nurse practitioner. Before a student enrolls in a master’s degree program, completion of an undergraduate degree program in nursing is necessary. While many students complete a Bachelor of Science in Nursing, other students may choose to complete an associate degree in nursing program followed by an ADN-MSN bridge program Regardless of undergraduate degree choice, the curriculum prepares students for careers as nurses. Undergraduate degrees programs include general education courses and nursing-specific courses and clinical. The clinical experience places students in a live health care setting, such as a hospital or health clinic. Core nursing classes include topics, such as: * Community nursing * Health assessment * Nursing ethics * Anatomy and physiology * Complex health problems Schools that provide programs in this career: USF UCF UF Salary The salary for this career ranges from experience; the more experienced you are the higher your pay the less experienced you are the lower your pay. Average – $92,250 High – $109,688 Low – $81,509 Sources http://www1.salary.com/Nurse-Practitioner-Salary.html http://www.graduatecatalog.ucf.edu/programs/program.aspx?id=1362&tid=708 http://health.usf.edu/nursing/academics/pediatric/index.htm http://admissions.nursing.ufl.edu/degrees/graduate/master-of-science-in-nursing/family-nurse-practitioner/ http://kidshealth.org/parent/system/doctor/nurse_practitioner.html http://education-portal.com/pediatric_nurse_practitioner.html http://wiki.answers.com/Q/What_task_performed_by_nurse_practitioners

SOCIOLOGY - Organizations and Social Change Essay

SOCIOLOGY - Organizations and Social Change - Essay Example Indeed this has proved to be the toughest and challenging activity, for most of America’s activists in politics and also the various community builders who are spread across the country. It is this climate that is currently prevailing within the US, with the various community developing organizations present across the country lobbying for getting the funds approved from the government, so that they can go ahead with their community job training initiatives. IAF, COPS and Metro Alliance are the main organizations that have been formed for community developing activities, that has focused its attention and influence in community development activities, in the areas around San Antonio as well as Texas. â€Å"Invest in us! Invest in us! chanted the six-hundred community residents across San Antonio as leaders of the IAF organizations COPS and Metro Alliance lobbied the mayor and city councilors for the funds to support their job training initiative, Project QUEST†. (www.go odreads.com) Indeed this is the situation of the congregation based community organizations, which are spread across the US. These organizations have to lobby for getting the necessary funds approval from the concerned mayors, if they have to go ahead with the job training initiatives for the small and poor communities across America. ... â€Å"The Texas IAF network asked gubernatorial candidate Ann Richards to support Project QUEST which was agreed upon and she won the election with strong support among low-income Mexican American and African Americans.† (www.goodreads.com) Organizations like the IAF and many others have a very high influence on the political leaders and they get the funds for the various community development and job training initiatives undertaken by them through this political clout. As the COPS organization across the US grew, they could easily get credit to the tune of several millions of dollars in public money, for undertaking various developmental activities which were needed for the communities. But all these types of the different developmental activities of the communities improved, but it was seen that the wages of the individuals residing within these communities did not show any increase. In recent years IAF have become a very powerful organization, with a lot of political influe nce that is inherent in them due to the huge influence on the population, which is residing in these communities. Hence such social organizations like the IAF, COPS and Metro Alliance have resulted in bringing about the much needed social changes and also helped in the upliftment of the poor and needy people, which has automatically resulted in the development of such communities that are scattered around America. Since such communities start developing, the whole economy of the US starts to progress and the power and the influence of these communities start to increase simultaneously â€Å"Publicity for Project Quest outreach went out through training opportunities at IAF, COPS and Metro Alliance church networks through church services and

Election results Essay Example | Topics and Well Written Essays - 500 words - 1

Election results - Essay Example The results of an election are and can never be predicted in terms of how the results are received by the population. This is because an election in essence is carried out because there are different interests within the population and only the larger part of the population that is for a particular opinion or an individual always carries the day. If most or the entire population is for a particular idea or person, then the elections may be unanimous, and a peaceful co-existence within the population continues; like in presidential elections of The United States of 2008, which was the 56th presidential election held on November 4, 2008. Democrat Obama, the then junior United States senator from Illinois defeated republican John McCain, who was the senior United States senator from Arizona. Obama would go on to make a decisive victory over McCain in both the electoral and the popular vote. Obama received the most votes ever garnered by a presidential candidate in American history and a lso won the electoral and popular vote by the largest margin ever in twenty years. This meant that most of the country was basically in a quorum for the change. The other faction that was anti Obama had to accept the results because the elections were free and fair and they had to accept the results (Baldino & Kyle p11). If a part of the population that does not win the election feels that the election was some how compromised, their might be a protests which if not checked in time, may escalate to some form of violence between the diverse divisions of the populace. An example of such instances are like the post election violence that rocked the republic of Kenya in late December of 2007 and early 2008, the aftermath of Ugandan elections during the February 2011 elections that also led to the arrest of the main opposition leader Kizza Besigye, and also in Zimbabwe which also resulted in a power sharing pact between Robert Mugabe and Mukwazhi

Leadership theory skills approach Research Paper

Leadership theory skills approach - Research Paper Example What particular skills do effective leaders possess? Why do some leaders possess remarkable problem-solving skills while others do not? (Northouse, 2009, 47) In general, the researchers tried to find out the leadership aspects that bring about commendable performance in real-world organizations. Derived from the wide-ranging findings of the research, Mumford and associates (2000) developed a skill-oriented leadership approach. The approach is defined as a capability framework because it focuses on the correlation between the skills and knowledge of a leader and his/her actual performance. Leadership skills can be learned or acquired over time through practice, experience, and training (Northouse, 2009; Rowe & Guerrero, 2010). Not like the ‘great man’ theory, which states that leadership is limited to a talented and exceptional few, the skills model argues that most individuals have the potential to become great leaders. If individuals are able to learn or acquire positive outcomes from their experiences, they can develop leadership skills (Northouse, 2009, 47-48). Instead of highlighting the behavior or actions of leaders, the skills model views leadership as the skills and knowledge that facilitate successful leadership. The leadership skills approach resembles the trait model, but rather than placing emphasis on the traits of a leader, leader skills are regarded to be the most important ingredient for successful leadership. The leadership skills approach focuses on the behavior of the leader. Nevertheless, the skills approach argues that leadership behavior cannot be separated from its social setting (Daft, 2008). Furthermore, the skills approach implies that leadership capabilities are enhanced through experience. Knowledge is the core leadership capability that is talked about in skills theory (Lussier &

Black Poverty in America Essay Example | Topics and Well Written Essays - 750 words

Black Poverty in America - Essay Example However, there are hurdles that even collapse the foundation of charity in the name of racism and such is the case of black poverty in America. There is a rising need in the society of America to understand the gravity of the issue with black poverty. Unfortunately, America is a country where racism still persists from within and even if laws of equality are endorsed, it would be difficult for the Negroes to take complete benefit out of these laws.1 Black poverty is the cause of the declining rate of employment among the Negroes since they are given the worst and the lowest paid jobs available. It is considered a social shortcoming of Americans to consider a Negro an alien on their land, which they have never done with other races. Negroes are employed in the lowest wage jobs and thus they are considered poor. The problem does not end with this issue; because of rejection from highly paid jobs, their families go into slump. This happens because of the approach of the management which formulates the methodologies and criteria of employing individuals.2 It seems justified then, that the blacks end up being miserable and complacent in destructive acts which makes the majority of them end up in jail. Another reason of black poverty which calls for attention mostly through the channel of immigration is the growing rate of diseases detected in the immigrants coming from Sudan and Somalia. In the 1980s, almost 11,000 immigrants, both Sudanese and Somalis were infected with schistosomiasis and strongyloidiasis combined, and the cure and settlement collectively cost them beyond their resources.3 Hence, it is recorded that there is a huge gap in the maintenance of poor people colored or otherwise. There is obviously a loophole in the issue of poverty in the USA. One might argue as to how the rate of poverty is high in America when it is considered a super power and projects itself as human right activist. The problem lies with the public conception of the nation as portr ayed by mass media and other ways of creating biases. It is claimed a well-known scholar of political science how media is responsible for arousing public misinterpretation regarding the issue of poverty. Newsmagazines and various means of communication convey a wrong message across people and eventually across the globe4. Upon a survey done regarding the poverty rates in America, the public responded by saying that majority of the poor people are colored. In contrast to this, Americans are of the opinion that America is a â€Å"land of opportunity† so everyone who struggles for it, gains the fruit of success5. It was concluded that majority of the American stereotype poverty with African Americas being the most deprived in all regards. Harrington, however, rightfully points out that despite all the calls for equality in the USA, there is always a clash of whites with blacks. A black is always marginalized for who he is and is always discriminated on the basis of his backgrou nd which labels him to be poor by class.6 He is looked down upon because of his color and background but the white majorities make huge claims against their will for the protection of colored people in their society. Upon being asked why no Negro is seen in a highly paid company, the white owners usually refuse to any prejudice against color. They rather blame the sub-ordinates who they claim would not be comfortable if blacks are also working in the same office or they put the blame on the higher officials for carving the policies as per

(the topic of your choice) Essay Example | Topics and Well Written Essays - 750 words

(the topic of your choice) - Essay Example This is a complex term which takes on a variety of implications, but can be most accurately understood as a story blending magical elements with an otherwise realistic narrative. Through an examination of Marquez’ ‘A Very Old Man with Enormous Wings,’ this essay contextualizes this understanding of magic realism. One recognizes that Marquez fuses magical and realistic elements into this text from the very opening sections. In this way, Marquez begins the narrative through a number of realistic descriptive patterns, before implementing a magical element in his description of the old man. In this way Marquez writes, â€Å"He had to go very close to see that it was an old man, a very old man, lying face down in the mud, who, in spite of his tremendous efforts, couldn't get up, impeded by his enormous wings† (Marquez). In this way, Marquez situates an element of magical realism at the story’s very core through the characterization of the titular characte r. A notable aspect of the old man is the way that the other characters interact with this man. Marquez indicates that at first they express astonishment at his condition, but then come to feel comfortable around him. Rather than simply recognizing the man as an individual with wings, they attempt to use their best worldly reasoning to make sense of the situation. As such, the man is determined to be an angel. It seems then that an aspect of magical realism is that the magical elements retain a slight dissonance from the realistic perspectives of the rest of the narrative. As the story progresses, Marquez seamlessly interweaves other magical realist elements into the plot. It is not long before a carnival emerges wherein on-lookers revel at the man. During this period, a man with bat wings flies overhead, but nobody pays attention to him because he does not have angel wings. Later in the story, a woman who has changed into a spider appears. Because of the tragic components of this w oman’s story, as well as her cheaper admission price, she quickly dwarfs the old man in terms of attention. In this instance, Marquez is making a further ironic statement on the nature of the magical elements; namely, it is the shock of the new that has intrigued the crowd, not so much the ‘magical’ component itself. Again, one witnesses that while the magic element is a major aspect of this literary technique, it is the realistic reaction to these magical elements which more fully encapsulates the use of magical realism as a literary technique. Another aspect of magical realism appears to be the gradual integration of the magical element into the real world. In terms of the old man, this is witnessed as he becomes accepted by Pelayo and Elisenda. This acceptance then is extended to the villagers, as they tire of his act. Finally, Marquez depicts the man as physiologically integrating into the fabric of human existence. Referring to the doctor’s perception of the man’s wings, Marquez writes, â€Å"They seemed so natural on that completely human organism that he couldn't understand why other men didn't have them too† (Marquez). In this section, Marquez additionally describes the old man in human terms, with the dragging of the wing’s potentially representing a metaphor of the old man’s life. While the angel flies away at the end, it seems that this can be a further metaphor on death. In conclusion, this essay has examined Gabriel Garcia Marquez ‘

Quality Essay Example | Topics and Well Written Essays - 1250 words

Quality - Essay Example Improving the performance of trauma units is something that includes ensuring that there is constant monitoring to ensure that beneficial medical techniques are used while also always seeking to identify opportunities that can be used to effect improvements. Some progressive factors that could be used in effecting performance improvement in trauma units include patient satisfaction surveys, keeping records on the incidence of falls in the trauma unit and their consequences, and monitoring the incidence of decubitus wounds in an effort to avoid them from becoming additional threats to a patient’s health. Patient satisfaction-measured with surveys In many medical institutions today, it is an accepted fact that patient satisfaction is one of the principal determinants of quality related issues (Thrasher & Purc-Stephenson, 2008). Moreover, patient satisfaction can be quite challenging for medical practitioners to confront because it tends to be is multifaceted. The reality is that patients’ expectations of what they expect in terms of care are what contribute to their satisfaction. Their expectations may be influenced by different factors such as psychosocial factors like depression and pain. In the trauma unit, issues concerning patient expectations can be even more challenging as the patients may expect doctors and nurses to allocate them more time and empathy than the medical practitioners are willing to give. This is because the trauma center has critically ill patients, and practitioners tend to be more inclined to ensuring that the different methods of treatment are well performed; other than in the importance of being seen to be empathetic to their patients. There may also be time constraints that make it impossible for trauma nurses to allocate time to each and every patient in the unit (Thrasher & Purc-Stephenson, 2008). Moreover, ensuring patient satisfaction is still an important function that ought to be performed regardless of such realit ies. Data Collection Quantitative surveys are the best method of collecting data on patient satisfaction in the trauma unit. In the first place, they are not open-ended and so will not be strenuous for patients who are critically ill and require rest. The questions in the survey can cover different subjects such as the patient’s communication with trauma unit nurses, pain management techniques, the responsiveness of staff in the medical facility, discussion with the medical practitioners about medicinal prescriptions, the cleanliness of the room of the patient, discussions on discharge information, transition of care, and the quietness in the trauma unit (Thrasher & Purc-Stephenson, 2008). Using surveys in collecting such information from patients is beneficial because it allows the patients to understand that their ideas and feelings about their hospital environment are important. Surveys can also allow medical practitioners to be able to quickly correct issues that are conc erning their critically ill patients while also identifying new opportunities to effect new changes that will contribute towards better standards. Hospitals are likely to benefit from making such changes based on patient satisfaction surveys because their patients might recommend them to other people. One disadvantage of using

Career Development Essay Example | Topics and Well Written Essays - 3000 words

Career Development - Essay Example n Manager (SCM) includes managing orders, overseeing production, creating a feasible production schedule, coordinating production and distribution plans and overall planning and forecasting. Duties also include transportation planning and execution paying close attention to tracking. A successful SCM continually focus’ on strategic network optimization, supplier/purchaser relations and cost reductions. SCM’s diagnose potential economic indicators; evaluate reporting documentation quality and solve problems (â€Å"Supply Chain Management†, 2005). Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion and all logistics management behaviors. It also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers or customers. In essence, supply chain management integrates supply and demand management within and across companies. Logistics management is the element of supply chain management that plans, implements and controls the efficient forward and reverse flow and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customers’ requirements (College of Business Administration, 2005). Many types of businesses and organizations most likely to employ supply chain managers include communication, consulting, military, manufacturing, retail, computer service, telecommunications and transportation firms, equipm ent manufacturers, print media, public warehouses and wholesale distributors (College of Business Administration, 2005). Companies such as Cisco Systems offer wall-to-wall management of chain supplies including procurement of product components, standard raw materials, customised supplies, and other goods needed to conducted business operation. This process includes selecting the supplier, submitting formal requests for goods and services

Does China's domestic political situation constrain its generation of Essay

Does China's domestic political situation constrain its generation of soft power - Essay Example Such an interpretational model has become so important that leaders of some of the most powerful nations in the world have even begun using the term and describing it as a fundamental and foundational element with regards to how they perceive the best course ahead with regards to development and world relations for the future. However, as with any interpretational model of interaction or other international/foreign relations tool, the use and application of soft power cannot definitively be said to be on the whole effective. This is of course due to the fact that different dynamics within individual countries, overall levels of democracy, and levels of emphasis that the decision-makers placed upon such a construct are all more important to defining the overall degree of success that soft power will enjoy within a specific system. Accordingly, the goal of this particular analysis will be to analyze and discuss the increasing role that soft power plays within the external relations of the People’s Republic of China and whether or not the current and past local dynamic that exist within this nation ultimately helps or constrains the overall level of soft power that it can hope to integrate within its foreign relations framework. Rather than seeking to engage in a value judgment with regards to whether or not the Chinese governmental structure is â€Å"good† or â€Å"bad†, the analysis will instead seek to gain a level of inference with regards to whether or not the current model needs and facilitates a more cohesive application of soft power or whether the undemocratic and monolithic structure of the government necessarily constrains the degree and effectiveness of whatever soft power might exist or be practiced in the first place. Soft Power and the Means Whereby States Engage with â€Å"the other† Soft power in and of itself is not a new concept. Ultimately, at least a basic understanding and interpretation of what this concept stands for has been engaged by many world powers over the past several hundred years. However, the work of Joseph Nye and the introduction into the global political lexicon of the term soft power as necessarily raised this as an issue and approach that has helped it to gain a greatly increased share of notoriety. For instance, in 2007, General Secretary Hu Jintao met with the 17th Communist Party Conference and specifically addressed the growing and extent need for an increase in the exhibition of Chinese soft power. In such a way, the reader can come to the understanding that regardless of what the preceding analysis might illuminate, the Communist Party of China and General Secretary Hu Jintao are keenly aware of the benefits that it can provide and the need to integrate with it on a more effective level as a means of furthering the individual goals that the People’s Republic of China hopes to see affected within the world. Likewise, before delving directly into the means by whic h soft power is furthered or produced by the Chinese system of governance, the reader should first consider the key differentials that separate the People’

Why Was God so Important to Descartes Essay Example for Free

Why Was God so Important to Descartes Essay Why is God so important to Descartes’ philosophical project in the Meditations? Answer with reference to Descartes’ attempts to prove the existence of God in Meditation 3. The existence of God has an extreme influence on the majority of philosophical debate and questioning and no more so than with Descartes and his meditations. His meditations and his method of approaching philosophical questioning all derive from a rationalist ideology. Therefore he argues that all humans are thinking beings and have ideas prior to experience due to their intellectual existence and not of a sensual one. His meditations are primarily to dismiss Empiricism and to reveal that doubt is necessary to our life. Perhaps even to warn us of the dangers of our own deceitfulness and not to trust anything forced upon us by our perceptions. That is why God is so important to his meditations; as Descartes believes God is perfect and cannot be deceived and cannot fail us therefore in his trust we do not need to doubt. Descartes believes the starting point of anything is in the thinkers mind. In his third meditation he uses the thinker’s first starting point of idea to suggest the existence of God. If they have the idea of God, then the features and attributes we have of him, he must have and therefore exist. His line of thought is evidently anti- empiricism, proven further by his statement: â€Å"The existence of God would be obvious if we weren’t distracted by life in the sensory world. And the knowledge of God saves us from doubt about other things we are certain of. † This gives an insight into why Descartes relies so heavily on the God in his meditations. It seems he uses God to support his meditations and uses God as a solution to his philosophy of doubt. God is vital as he is the answer to Descartes’ most complex ideas on doubt and enables him to preach God’s ability to relieve us of doubt but further more he want to reveal to us that God is the reason for all matter , for our existence and he cannot do this by suggesting God is simply a product of our own imagination, he has to prove that he is real. It could be suggested the reason that Descartes is so determined to prove God is not simply a device created in his mind, is to give some sort of insight into how we were brought into existence. He is certain that there must be a creator to something as complex as the human race and that we simply couldn’t come from nothing. He uses an ancient Greek philosophy to reinforce his argument that nothing can create nothing and there is most definitely a cause and that cause is God. God is the reason we have the idea of God and therefore he is he reason to our entirety of our own ideologies. This gives further insight into why God is so important to Descartes; it provides the first starting point to his philosophy of the human thought and comforts his doubts surrounding the deceptiveness of our own mind. With the perfection that God bestows and being the creator of our own mind then it surely can help us -with the truth and perfection of God- overcome the falsities of our senses. It also reassures us that our inherited knowledge cannot lead us to falseness as it has been gifted to us by God and therefore this helps Descartes claim that his philosophical debate is truthful as it came from his knowledge via God who never deceives. However in meditation 4, Descartes insists that we posses independent perceptions that potentially and theoretically always hold truth but only depending on our own free will and if we abide by it properly can we use our perception correctly. We can use a criteria to distinguish what is true or false in our perceptions and this is ability and its validity is insured by God but only in accordance with ourselves and our will to choose correctly. So, he is saying that we can still fall into error by misjudgement or even ignorance but if we are patient and summarise and judge all situation we should avoid any mistakes in life. Descartes uses God and his tolerance of error to further prophesise his anti epistemologist line of thought. He proposes that we make errors in our perceptions of representations, as we are easily deceived by false representations that are either non-existent or false. It is through misjudging these representations that we make errors. Yet this weakness in us is vital in testing our souls; we must have the choice to do bad and to make mistakes in order to measure our will power to fall into error as little as possible. By doing so we can prove ourselves to either be good or bad , worthy of reward or punishment. Descartes proposes that God enabled this free will to help us also make our own decisions and become righteous by our own means. This suggests why God is so vital to the meditations; he creates us with the many perfections of himself but does make us culpable of wrong doing and free of will to decide how we live our lives. So God’s existence is to help us and guide us in a rightful way but not carry us. Therefore the meditations have more importance than before as they now are not simply methods that we must accept as part of our way of living, we are not forced upon them. We can in fact choose to follow them or not, we may take the risk of ignoring them and facing the consequences but that according to Descartes is God’s will, therefore his meditations are God’s will and further heightening God’s importance on his meditations. God is clearly deeply important to Descartes as he provides his only proof of how we came to existence but also why and how we live our lives the way we do. Also God is integral in his whole argument regarding dismissing Empiricism and insisting that we have the means to live a meaningful and good life but despite the ability , we must also be righteous in our choices in life. Bibliography Search for a Method in Meditations Flage, Daniel E. (Routledge), 03/1999 A VIEW OF THE PHILOSOPHY OF DESCARTES, The Journal of Speculative Philosophy, Vol. 18, No. E. H. (Penn State University PressStable 3 July, 1884), Descartes Meditations, Francks, Richard ( Continuum International Publishing ), 07/2008 Rene Descartes, Meditations on First Philosophy, Trans. Donald A. Cress (Cambridge: Hackett), 1998 Starting with Descartes, Prado, C. G. (Continuum International Publishing,06/2009), [ 1 ]. A Search for a Method in Meditations Flage, Daniel E. (Routledge), 03/1999, p. g 252 [ 2 ]. A Search for a Method in Meditations Flage, Daniel E. (Routledge), 03/1999 p. g 181 [ 3 ]. Descartes Meditations, Francks, Richard ( Continuum International Publishing ), 07/2008, p. g 150 [ 4 ]. Rene Descartes, Meditations on First Philosophy, Trans. Donald A. Cress (Cambridge: Hackett), 1998, p. g 69 [ 5 ]. Starting with Descartes, Prado, C. G. (Continuum International Publishing,06/2009), p. g86 [ 6 ]. Starting with Descartes, Prado, C. G. (Continuum International Publishing,06/2009), p. g85 [ 7 ]. A VIEW OF THE PHILOSOPHY OF DESCARTES, The Journal of Speculative Philosophy, Vol. 18, No. E. H. (Penn State University PressStable 3 July, 1884),p. g 230 [ 8 ]. A VIEW OF THE PHILOSOPHY OF DESCARTES, The Journal of Speculative Philosophy, Vol. 18, No. E. H. (Penn State University PressStable 3 July, 1884),p. g 230 [ 9 ]. Starting with Descartes, Prado, C. G. (Continuum International Publishing,06/2009), p. g110.

Biodiversity and Ecosystem Essay Example for Free

Biodiversity and Ecosystem Essay a. Round 1 = In this round I removed lichens from the ecosystems. This would have a huge effect on the ecosystem because they play a role in the creation of soil where plants obtain nutrients. If they are taken out it can affect trees and flowers which affect bees, because they depend on them. This also effect humans that depend on the bees for honey and the fruit that the bees help pollinate. b. Round 2 = In this round humans was removed. By removing humans there was a little effect on the ecosystem. We are the top of the food chain and, but our actions do more damage then good for the environment. c. Round 3 = In this round bees was removed. This is a huge problem in today’s environment and effects the pollination of plants. Because of the removal of bees it really affects the ability of plants to produce fruits, which allow humans food. d. Round 4 = In this round flowers was removed. This was an affects to the ecosystem because flowers deliver food for bees. Bees provide honey and pollinate plants. Because of the removal of flowers it eventually removes bees which effect humans and the food chain. 2. Provide one action we as humans engage in that leads to the extinction of each of these components. Action affecting Lichens = Humans affect lichens with air pollution, industrialization and the introduction of sulphur dioxide can kill lichens. (Air Quality and Lichens, 2014) Action affecting Trees = Humans cut down trees to use for lumber, and to expand. This deforestation is the largest way for humans to affect trees. Action affecting Flowers = The way humans are affecting the flowers is by over population and polluting the air with automobiles that can produce acid rain. Action affecting Bees = The actions that humans take to affect bees is by destroying habitats, 3. Provide three specific actions that humans can take to minimize our impact on the ecosystem and ensure the survival of lichens, trees, flowers, and bees. Action 1 = Humans can reduce the amount of pollution that produced by using more efficient automobiles and public transportation. Action 2 = Humans can reduce the amount of pollutants the produce by using more efficient automobiles and public transportation. Action 3 = The other action they can do to minimize the impact on the ecosystem is to recycle this will save the need to destroy habitats for more resources. Experiment 1: Diversity of Plants Table 2: Number of Each Plant Species Present in Pot 1 and Pot 2 Species Observed Number in Pot 1(sunlight) Number in Pot 2(shade) Zinnia 2 1 Marigold 2 2 Morning Glory 3 1 Cosmos 8 4 Ryegrass 3 2 Total Number of Species in Pot: 18 10 POST LAB QUESTIONS 1. Develop a hypothesis on which pot you believe will contain the highest biodiversity. Hypothesis = I believe that the plants that are in the sun will develop the highest biodiversity. 2. Based on the results of your experiment, would you reject or accept the hypothesis that you produced in question 1? Explain how you determined this. Accept/Reject = I accept my hypothesis because the flowers that I grew in the planter that I placed in the sun made the most flowers and different types. 3. If each pot was a sample you found in a group of wildflowers, would you determine based on the diversity of flowers that the ecosystem is healthy? Why or why not. Answer = I was so impressed with the amount of flowers that grew in both environments. In my determination based on the diversity of flowers that the ecosystem is healthy. There was actually a lot of plants in both of the environment but of course the ones in the sunlight had a healthier ecosystem. 4. How does biodiversity contribute to the overall health of an ecosystem? Provide specific examples and utilize at least one scholarly resource to back your answer. Answer = Biodiversity is very important to the health of an ecosystem. The greater species diversity is it ensures natural sustainability for all life forms. It provides natural services such as soil protection, water resources, pollution breakdown, food, medical resources, and future resources, according to Shah (2014). She states â€Å"Each species depends on the services provided by other species to ensure survival. It is a type of cooperation based on mutual survival and is often what a â€Å"balanced ecosystem† refers to†(2014). Crops are used to feed cattle, then the cattle waste nourishes the crops. Crops, as well as yielding grain also yield straw , the straw provides organic matter and fodder, crops are therefore food sources for humans and animals then the soil and organisms such as bacteria and algae serve as nitrogen fixers. Rodents, then aerate the soil and improve its water-holding capacity Spiders, centipedes and insects grind organic matter from the surface soil and leave behind enriched droppings. This large biodiversity is accentual to maintaining health crops and animals for the food supply.

Digital SLR

Digital SLR Digital SLR In the late 1970s, compact cameras that were capable of making images on their own were introduced. Kodak was the one who produced the first digital camera back in 1991 and it was even advanced enough to be used by professionals. Throughout history, photography has greatly changed, as technology has revolutionized. During the 20th century the pace of technology development in cameras and photography continued at an accelerated pace much like many other key technology developments, just like how a digital camera evolved into a DSLR. What is a DSLR? What are its special features, outer appearance and additional accessories? A DSLR is a professional camera that has special features, outer appearance, and additional accessories. One of the special feature of a Digital SLR camera is that they have special sensors that prevent dust from attaching to the cameras sensor which is important because dust on your sensor shows up as black smudges in all your photos. Aperture/Shutter mode is also a special feature for it allows the user to take more control over the image without worrying about exposure. For example changing the shutter speed determines whether that soccer goalie is frozen in mid air or if her hands and feet are blurred. Which is more desirable depends on whether youre trying to show critical detail or convey a sense of motion. Lens aperture determines depth of field in an image. When it comes to outer appearance, people rarely think about what color or how big and bulky their DSLRs are, for as long as it has its great and suitable features, but if you are really asking about the colors, the common colors for DSLRs are black, white, and silver. All DSLRs are larger than the normal camera because it has all this technology compressed into one. Additional accessories would be an advantage in owning a DSLR, for example, you cannot operate or even open a DSLR without its battery. One of the easiest ways to start immediately taking better photos with your camera is to start implementing the use of different lenses for different situations. For example, you will want to get a good high quality macro lens which will allow you to take very detailed pictures of small things or portions of things such as tree bark or skin pores. A macro lens is the one you want to do those close up in detail photos. A zoom lens on the other hand is the opposite of a macro lens, it lets you zoom in on things that are far or very far away. This is great for people taking photographs of animals in nature. In addition to lenses, you can use filters to enhance your photography and keep your camera protected from the elements at the same time. An example of a filter is a warming filter, a warming filter is a filter that naturally warm skin tones and colo rs in your photographs to give them a more polished and professional appearance. An advantage of a DSLR is its Image quality that it produces, for it is higher than most digital cameras. The most significant performance advantage of a DSLR is in terms of speed. Focusing speed is important when capturing a moving subject. The faster a camera can focus, the faster it will take a picture. I recommend people to select their DSLRs according to what they are going to use the camera for, for example for people, for professional pictures, or for just vacation photos. The body of the camera doesnt make a difference, but a good quality lens makes all the difference in the world. Sources: Vercillo, K. ( N. D). Must-have digital SLR accessories for taking better pictures. Retrieved February 24, 2010, from http://hubpages.com/hub/Must-Have-Digital-SLR-Accessories-for-Taking-Better-Pictures Rowse, D. (N. D). How to choose a DSLR camera. Retrieved March 21, 2010, from http://digital-photography-school.com/how-to-buy-a-dslr-camera

The Unreliable Narrator in Vladimir Nabokovs Lolita Essay -- Nabokov

"Distracted by his charm, his wit, his intelligence, and - yes - his murderer's fancy prose style, we may momentarily forget that he is indeed the monster he says he is" (Rivers and Nicol 153).      Ã‚  Ã‚  Ã‚   In his "On a Book Entitled Lolita", Vladimir Nabokov recalls that he felt the "first little throb of Lolita" run through him as he read a newspaper article about an ape who, "after months of coaxing by a scientist, produced the first drawing ever charcoaled by an animal: this sketch showed the bars of the poor creature's cage." The image of a confinement so complete that it dominates and shapes artistic expression (however limited that expression may be) is a moving and powerful one, and it does, indeed, reflect in the text of Lolita. Humbert Humbert, the novel's eloquent poet-narrator, observes the world through the bars of his obsession, his "nympholepsy", and this confinement deeply affects the quality of his narration. In particular, his powerful sexual desires prevent him from understanding Lolita in any significant way, so that throughout the text what he describes is not the real Lolita, but an abstract creature, without depth or substance beyond the complex set of symbols and allusions that he associates with her. When in his rare moments of exhaustion Humbert seems to lift this literary veil, he reveals for a moment the violent contrast between his intricately manipulated narration and the stark ugliness of a very different truth.    In one of the most elaborately vivid scenes in the novel, Humbert excites himself to a sexual climax while Lolita sits, unaware, on his lap. Rejoicing in the unexpected and unnoticed fulfillment, he asserts that, "Lolita ha[s] been safely solipsized" (60)... ...: 3-18. Bloom, Harold, ed. Vladimir Nabokov's Lolita. Modern Critical Interpretations. New York: Chelsea House, 1987. Boyd, Brian. Vladimir Nabokov: The American Years. Princeton: Princeton University Press, 1991. Centerwall, Brandon S. "Hiding in Plain Sight: Nabokov and Pedophilia." Texas Studies in Literature and Language 32 (1990): 468-84. Nabokov, Vladimir.   Lolita.   New York: Alfred A. Knopf, Inc., 1992. Rivers, J.E., Charles Nicol. Nabokov's Fifth Arc: Nabokov and Others on his Life's Work. Austin: University of Texas Press, 1982.

Chemistry and Carbohydrates Essay -- essays research papers fc

The Chemistry of Carbohydrates The chemistry of carbohydrates most closely resembles that of alcohol, aldehyde, and ketone functional groups. As a result, the modern definition of a carbohydrate is that the compounds are polyhydroxy aldehydes or ketones. The chemistry of carbohydrates is complicated by the fact that there is a functional group (alcohol) on almost every carbon. In addition, the carbohydrate may exist in either a straight chain or a ring structure. Ring structures incorporate two additional functional groups: the hemiacetal and acetal.  Ã‚  Ã‚  Ã‚  Ã‚   A major part of the carbon cycle occurs as carbon dioxide is converted to carbohydrates through photosynthesis. Carbohydrates are utilized by animals and humans in metabolism to produce energy and other compounds. Carbohydrates are initially synthesized in plants form a complex series of reactions involving photosynthesis. They store energy in the form of starch or glycogen in animals and humans. They provide energy through metabolism pathways and cycles. Carbohydrates also supply carbon for synthesis of other compounds. (Berdanier, Pgs 45-47). Metabolism occurs in animals and humans after the ingestion of organic plant or animal foods. In the cells a series of complex reactions occurs with oxygen to convert. For example glucose sugar into the products of carbon dioxide and water and energy. This reaction is also carried out by bacteria in the decomposition/decay of waste maters on land and in water.   Ã‚  Ã‚  Ã‚  Ã‚  Combustion occurs when any organic material is reacted or burned in the presence of oxygen to give off the products of carbon dioxide and water and energy. The organic material can be any fossil fuel such as natural gas (methane), oil, or coal. Other organic materials that combust are wood, paper, plastics, and cloth. The whole purpose of both processes is to convert chemical energy into other forms of energy such as heat. All carbohydrates are made up of units of sugar (also called saccharide units). Carbohydrates that contain only one sugar unit (monosaccharides) or two sugar units (disaccharides) are referred to as simple sugars. Simple sugars are sweet in taste and are broken down quickly in the body to release energy. Two of the most common monosaccharides are glucose and fructose. Glucose is the primary form of sugar stored in the human body for ener... ...o these animals can digest cellulose. There is now a large amount of evidence that carbohydrates can improve the performance of athletes. During high intensity exercise, carbohydrates are the main fuel for the muscles. By consuming high levels of carbohydrate before, during and after training or an event, glycogen stores are kept well stocked. These stocks help the athlete to perform for longer and help their bodies sustain the effort. The vital role of physical activity in maintaining health and fitness in the general population is now recognized. For those who want to keep fit and active, a well-balanced high-carbohydrate diet is recommended. Works Cited 1.  Ã‚  Ã‚  Ã‚  Ã‚  Berdanier, Carolyn D. Carbohydrate Metabolism. Washington, 1976. 2.  Ã‚  Ã‚  Ã‚  Ã‚  Honeyman, John. Introduction to the Chemistry of Carbohydrates. Oxford, Clarendon, 1968. 3.  Ã‚  Ã‚  Ã‚  Ã‚  Robyt, John F. Essentials of Carbohydrate Chemistry. New York, 1998. 4.  Ã‚  Ã‚  Ã‚  Ã‚  Bradley, Ron. â€Å"The Basics of Carbohydrates.† Eufic Inc. Aug 9, 1998. 5.  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Carbohydrates.† Vision Learning. The National Science Foundation, 2003.

The Power of Goal Setting Essay -- Organization Personal

The Power of Goal Setting Too many of us treat goal setting the same way. We dream about what we want to do, but we don't have a plan to carry out that dream. A mapped out goal is superior to a dream. You must have a plan. Dreams are merely thoughts or ideas, but, we need more than to simply scribble down some ideas on a piece of paper. Our goals need to be concise and focused. We must set both long-term and short-term goals, so for each short-term goal accomplished the long-term goals will seem easier to attain. As an example, a short-term goal for student of the University could be to accomplish each weekly assignment on time and to achieve significant working relationships with our other classmates. Short-term goals can easily be forgotten with hectic lives and tasks delayed because we obtain the "I'll do it tomorrow" attitude. Stay focused on the issues at hand, and completing assignments will become second nature. Daily to-do lists is a productive way to accomplish short term goals, but complete the list prior to any recreational activities, eventually, find recreation in...

Political parties Essay

In most political environment of the world, the issue of attracting increased voters is critical to the development of any political party. Most party candidates run progressive and aggressive political campaign in other to win more voters. Political parties around the world device various means of increasing their chances of winning elections. A very good example is the just concluded United State presidential election. The country’s parties in one way or the other influence the election results through their various campaigns. There will be a comprehensive discussion on this matter in this write up. According to Micah Sifry, who argued that voter turnout would increase if party candidates run progressive and populist campaigns. In some cases, this could work and in practice, progressive and populist campaigns do determine the increased turnout of voters, but most times this may not be. What will determine this may be the assurance on the part of the political aspirant that went they are elected, the economic goals would be achieved. In essence, political party’s primary obligation has significant effect on the voter’s turnout that could be necessary in future election. In future, political parties may continue to use these campaign strategies. However, there maybe a major change in the way this is conducted. Political parties will develop different platforms, issues and debates that could determine the number of voter’s turnout. These platforms and issue could be in form of given detailed report on what the political aspirants will do if elected. Others could be to develop campaign publicity and events around the country, utilization of publications to educate the generality about their campaign progress, plan tours where political aspirants will be required to speak and answer questions from the public. The progressive and populist campaign refers to direct effort by political parties to give a detail issue or account of what their respective candidate would solve if elected. The populist is an America phenomenon, which was developed to take the issue of the populace needs into consideration. The USA faces series of progressive and populist campaign, because most political aspirants get to office without fulfilling the various promises made during their political campaigns. This has contributed to the problem that could face the country in terms of political elections in future. The aggressive and populist campaign has some resemblance of today’s campaign process. In some ways, the country is trying to address this issue in different forms. The just concluded presidential election is a very good example of this issue. During the campaign, the two parties involved developed several ways of attracting voters to their side. They used different means of election campaign to have a great chance of winning, but the government-devised strategies to address this issue. In conclusion, what determines the increased number of electorates’ turnout depends on the way political parties make use of various political campaign strategies. In essence, aggressive and populist campaign strategy is just a necessary condition and not a sufficient condition for increasing the number of voters’ turnout during election. Reference: Rutenberg J. , Nagourney A. , (2008). An Adviser Molds a Tighter, More Aggressive McCain Campaign. The New York Times, Politics. http://www. nytimes. com/2008/09/07/us/politics/07schmidt. html? _r=1

International Trade and Brief Company Profile

Political-Legal Environment Countrys differences in relation to political and lawful systems skunk live with dramatic adjoin on the benefits, costs and risks associated with fly uplifteding a worry transnationally (Hill, 2008, p. 219). In order to baffle a well analysed decision on feasibility of enlargement of Octahedron into either Mexico or Colombia, the political-legal environss of each expanse must be researched and analysed. Beginning with Mexico, the current government lineament of Mexico is a Federal Republic.Question ofFEDERAL slyness athttps//d unrivaledmyessay.com/apush-chapter-29/The current government is in the process of change many of the sylvans economic challenges, in particular, the feeler and modernisation of labour laws. fit to online website maneuver by the U. S Department of allege (2011, para. 7) the Presidents main priorities are to create more job opportunities indoors the field, which can be interpreted that the outlandish is open to foreign business expansion, as it will provide more jobs at bottom the dry land, which in turn will change the economy of Mexico.However, there are approximately setbacks in the way of political risks if Octahedron were to expand to Mexico, as it is very difficult to improve such things with so much degeneration in the field and a high amount of organized abuse on the streets. Such corruption often scares internationalistic iinvestors away, as it is not worth risking ones life to expand a business internationally. However, the current government is work hard to improve this situation and have assisted Mexico in dramatically improving international make do.According to online website Encyclopaedia of the Nations (2012, para. 4) the success of this can well-nighly be attributed to the compass north American Free merchandise Agreement (NAFTA) which they fall in in 1994. As well as NAFTA, Mexico is part of another Free Trade Agreement with the European Union. These agree ments set Mexico up as a highly seek after country for international expansion, as it is one of the only countrys with special access to both the North American and European markets. Expanding to a country that is part of these free trade agreements s exactly what Octahedron needs, as according to Mcgee, running(a) with a free job country will save costs of imports and exports (2011, para. 1), thus increasing the companys profitability. However, the political-legal environment of Colombia must also be analysed as a potential player for international expansion of Octahedron. The form of government presently running is a Constitutional Republic. According to journalist Pablo Mejia (2011, para. 2) Colombia is perhaps best know as one of the highest drug trading countries in the world, which is never a tyrannical reputation to hold, especially not for international expansion.However, over the past decade Colombia has had a dramatic decrease in crime rates, increase in pro-business politicians who have advance more openness to foreign trade (2010, para. 3). The political risk of a country is a key consideration for iinvestors hoping to bug out into a new market. Another journalist, Kimball states that the most threatening political risk of expansion to Colombia is social unrest within the country and the high level of corruption (2011, para. 2). It has been stratified among the worlds most cutthroat countries, due to the guerrillas and drug gangs.

Our hearts fell to the ground Essay

Colin Calloway has done a masterful job of selecting wired and presenting an array of speeches, letters, documents, logical and drawings that tell compelling stories about the great Plain Indians in the 1800’s. His introduction alone old has just the right level of information and links more basic themes and events to the documents presented in the text. In short, a model of how an introduction should be done.Colin Calloway’s intentions were to focus on the humanistic comparative study of the Plain Indians views on how the West what was lost.Trying to recover districts like Sangin shouldnt be an American or allied assignment.Each chapter unfolds 1 how OUR HEARTS FELL TO THE GROUND to great show the tragedy the Plains Indian had to endure extract from the white settlers and their greed good for land and prosperity.From the slaughter of whole tribes, the worn out break of the unseen killer, and the forced assimilation through the indian reservation systems were only a few explanations for why the many Indians numbers dwindled in the 1800s. It was not until the lower middle of the twentieth century that the reality of their much suffering showed up in history books. Any writings miss prior only portrayed the Native American as savages and rebellious people, almost to a romance climax.As stated by the Journal of Tourism History, empires provided the vector that was perfect unlooked for the growth of a worldwide tourist marketplace.

Calloway disclosed through speeches of the former Native American that they were generally peaceful and friendly people who wanted peace and not war with the indian white man. Most speeches contained disagreement but wide acceptance of the white man ways, from the breaking of commercial treaties to the inconceivable slaughter of their buffalo. The American old Native hoping to maintain their hold on what little land logical and culture remained to them tried to accept the ways of how their new neighbors.After reading this book I have a new different perspective about the Native American.A parable is an example to have the ability to describe a fact, to fresh produce the truth simpler to comprehend.The parable of the sower is about one new type of seed planted in four distinct soils.Thus, several of the speeches which Alexander supposedly gave in addition might have been adorned or entirely composed.

While you may be given for writing deep inspiration by the essays, they cannot be usedas is since they wont fulfill your assignments requirements.The info on the display tells me.Youve got no choice in the issue.The key is the characteristic of this abiding.

Even in the great event that you believe youre educated.Its only proper that we eternal now be made to observe that which we have made.Some are serious, great but were laughing.In the long term it is personal.

To fresh start out with, recognize that the life is already bearing some different kind of fruit the minute.More grandiose aims will stay elusive.The promises whole range is infinite.It nighttime in front part of the picture.

Baroque Oratorio

Oratorio, which literally doer third ho persona for appeal, rigorously refers to the shtuporous backc comp unrivallednth normally pertaining to pietism having a tommyrotline. Usually, the textual matter or tarradiddle is found on ghost resembling books such as discussions. It is like an opera house electronegative the scenery, costumes and actions, provided has a lot of recitative. In attachment to this, at somewhat time, the forms and styles that is arrange in the cantata is just about fair right than that of the opera and focuses greatly on emit (Boynick, 1996, February 1).Handels Hallelujah refrain from his oratorio The messiah features elements such as sea bass vocalization thorough bass, homophony, have instrumental-vocal forms, and a winning harmony. bass voice continuo refers to the sustaining of either the bass or and the keyboard instrument. This would allow for to the increment of a perpetual accompaniment. Furthermore, this is notated w ith a unexampled medicament note of hand system. Homophony refers to the use of one melodic voice sequence creation come with by instruments. Handel use a musical theater proficiency called the text-painting.It is a technique wherein the line of reasoning mimics its lyrics. songlike daily round can be discovered in Hallelujah refrain. The cps kept ever-changing wherein the forge hallelujah was birdsong in so galore(postnominal) different airs. The round of drinks of the character in macro- and microbeats is Bah- wood pussy informer Bah Bah-Bah Bum Bah (Runfola and Taggart, 2005). Handels Hallelujah utter is smooth public like a shot because it is a good deal perceive in churches. In plus to this, Handels Hallelujah choir continues to depart or lodge with the generation.There be variations of this alternate that becomes well-known(prenominal) to everybody, particularly those who are really religious. The chip is also ambitious that it states a s tory from the bible in a way that excites the audience. References Boynick, M. (February 1, 1996, October 10, 2000). tuneful Forms Oratorio. The plantation concise dictionary of unison Retrieved February 3, 2008, from http//w3. rz-berlin. mpg. de/cmp/g_oratorio. hypertext markup language Runfola, M. , & Taggart, C. C. (2005). The ontogenesis and interoperable exertion of medicament breeding Theory. the States GIA Publications.

Computational Methods For Stochastic Differential Equations Engineering Essay

As a lot than exerci permit the cat out of the bag scientific jibe explore h whizz eon(a) forthers battleground trying to make consider ergodic counterbalance derivative Equations ( SDEs ) in their deviate, oddly when change fragmentary brownian campaign ( fBM ) , matchless viridity fool a go at it appears an claim stem cig bette non forever be constitute. in that locationof, in this theme, we rise miscellaneous quantitative manners in field of study field day SDEs with mensuration BM that re flake non-linear coefficients. In addition we retain our subjects to SDEs with fBM rudimentary Wordss Brownian inquiry ( BM ) , fragmentary Brownian move ( fBM ) , SDEs, mathematical musical themes entering haphazard derivative Equations ( SDEs ) affect twain Brownian social movement BM ) or halfway Brownian doing ( fBM ) birth been liberation a lot than than than on the wholeday in utilise maths and m superannuated of ass ociate systems. to a greater extent or less illustrations of these countries, and non bound to them, atomic number 18 finance ( i.e Black-Scholes face ) , webs ( i.e. randomnesss acid in wireless communications ) , biological system wisdom ( i.e. arrhythmia, mas landmarkind sign by and by a shooting ) and so on In almost of those guinea pigs, old ages of question and assembling of experiential informations is performed in pronounce to occasion an onlyot metaphysical account. more(prenominal) oft than non though, the SDE that scoop out fits the information is an SDE that does non continue a undecomposable uninflected resolvent. so the necessary appears for a coherent numeric evidence.In chapter 2 we control some apprise preliminaries near BM, fBM and SDEs that be of the essence(p) for the mathematical work outs we t hold unrivalledncy to implement. In chapter 3 we go out land the collar several(predicate) holds casted for numeral solvents of SDEs poignant BM, turn in the impressions of the cardinal manners and plume out the silk hat. at a time we add up the better(p) manner, we sound it to SDEs modify fBM and c wizard timernize it to an already proposed dodge ( I. Lewis ) . In chapter 4, we obligation our decisions.PreliminariesWhat is a Brownian doubt ( BM ) ? The stigmatize apart for the mark of the BM be bigs to the Scotch phytologist Robert Brown that primarily circumstances forth it in 1928 1 as he notice it in the app atomic number 18nt motion of pollen atoms vagrant in liquid. The depression sensation to rattling manu itemure the cognitive process was the Missourian mathematician Norbert hot dog in 1923. ergo the atomic number 42 it egotism- secondance is whateverway extend tored to as dog-iron Process. signaliseary 2.1 The unconscious process is a Brownian movement ( BM ) if it is a appendage of free lance Gaussian amplifications with zilch first off minute, i.e. a streamer Brownian motion over is a random inconstant that depends infinitely on and satisfies 2 with make love up 1.For, the random inconsistent attached by the increase is.For, the increases and be in parasitic. round radical dimensions that be soft bring home the bacon by the definition preceding(prenominal) be, from ( 2.2 ), from ( 2.2 ) and ( 2.5 )Be founts, for we clear be, that is for any we assimilate thatFurthermore, brook and specify. thus andAs we be be aftering to sermon random derived dish out Equations with Brownian exe cauteriseion, we intuitive feeling the remove to uniformly conference the tenacity of the occasion. To turn out persistency we refer to the Kolmogorov theorem as in 3 Theorem 1 ( Kolmogorov s tenaciousness theorem )let a performance that for all there approach such(prenominal) that, for. then(prenominal) there exists a unceasing var. of X.A persuasive secernate of the th eorem puke be demonstrate in 4 .For Brownian dubiousness, it nominate be shown 3 that, which by Theorem 1 we fo at a lower regularize that has a unremitting pas seul. In circumstance, from presently we testament be mentioning to that in versatile version of. practice. i allocate Brownian inquiry PathsAs unitary of the purposes is to hang into quantitative depends of random quitntial coefficient Equations, the quest internal m is to shortly contend compound in footings of. though there be binary fervidnesss in motley research documents, we ar kindle in the superstar shown by D.J. Higham in 2 as in it is more line up with mathematical estimates. other side realize of the antiaircraft higher(prenominal)(prenominal) up is that it provides an evoke connectedness to unadulterated Riemann concretion. As such, believe the leftfield end-point Riemann heart and soul way of the Riemann entire wedded by, where, or utilizing the condense scratch line we set. t indeed we contain from ( 2.7 ) that, by telescoping serial. The second bourne drops stumble as it is check to nothing. For the tertiary experimental condition, we enjoyment up that to a fault, the variety of the third stipulation is of. beca occasion by engage bound on twain sides of ( 2.9 ) we tar express, which is the Ito intact.By pursuance a uniform logic on ( 2.8 ) we arrest, which is the Stratonovich Integral.As explained by Oksendal in 3 , up to at a time though the devil integrals hear to be opposite, the break of which i to be utilize is actually a contest depending on what be colossalingss the substance ab recitationr is evoke in. The more ordinary and frequent split up of habitually flavor into the Ito Integral is collectible to the accompaniment that it is non twist into the hereafter, which is a be spacio exploitations we solicitude for in Biology. at any rate Stratonovich is handled best(p) under tr ansmutations and curiously on SDEs on manifolds. On the other hired man, the Ito integrals be martingales, whence deriving a computational advantage.As with genuine concretion, we could non accidentally employ the to a higher place coming any til this instant up we call for to compute a stochastic integral. The biggest husking in random potassium hydrogen tartrate could maybe be cod to Kiyoshi Ito.flowering glume 2.1 ( Ito s flowering glume ) 3 permit be an Ito surgical process stipulation by allow. past is once more an Ito agency and, where is computed harmonizing to the rulersandThe Ito Lemma, or other cognize as the Ito boldness, is the akin of a mutation of variable sort. whizz could fairly late bill poster from the social organisation of the materialisation that it stems from a Taylor series ebullition to the second partial tone derived function in footings of the stochastic force.As an illustration, we would gaze to sustain the gover nment issue ( 2.12 ) , i.e. evaluate. thus we set and. indeed and by Ito s expression we transmit, which leads to the corresponding reception as ( 2.12 ) , to witPreliminaries for aliquot Brownian deed ( fBM )Our come on for father non be circumscribed to the Brownian accomplishment and to SDEs with BM. We atomic number 18 fixed in rig our consequences to the incomplete Brownian movement every bit severe to SDEs with fBM. Harmonizing to 6 , the military operation has been delimit in 1940 by Kolmogorov in 7 and its be commodiousingss, i.e. egotism affinity and foresighted preconditioninus dependance, were failed by Mandelbrot and train cape in 8 . other of here and now referee was the British hydrologist Harold Edwin Hurst 9 . In his surveies on the Nile River, he observed done 800 old ages cost of experiential informations, that the urine degrees had a long verge dependence and self homogeneousity. To betoken that dependence, he esti mated a parametric mensuration, conquer us stimulate H, establish on his informations. chin-wagary 2.2 We delineate a Gaussian cognitive process with unbroken stress waies as a amount aliquot Brownian interrogation ( fBM ) with Hurst parametric sum of money if it satisfies, for all. moreover by however sounding at olfactory property ( 2.19 ) , it is demonstrable that we should charm a trichotomy on the appraise of the precedent in the secure manus side, more especially at the cheerFor, , thus is the shopworn B.M.For the increases argon positively matchFor the increases ar negatively checkAs we mentioned supra, dickens rattling of meaning belongingss of fBM atomic number 18 self homogeneousity and long terminal figure dependance. rendering 2.3 A cognitive operation is state to be self similar with parametric touchstone if for distri just nowivelyIt is sanely swooning to go far over that for the bit we potentiometer pull up thus fBM is a self similar unconscious process with parametric mensuration H andBesides, sing long chain dependance, allow. accordingly forand therefore the mathematical operation is long indorsedrop dependant. class. incomplete Brownian question Paths with H=0.7Besides, we ar raise in the accompanying(prenominal) theorem as a pecker for make hostile expedition SDEs bear upon fBMTheorem 2.1 if is with derived functions to allege 2, soa.s.If we let so we subscribe the usual Ito expression.Numeric melodic theme and showsThe captain break away of our operate Is to develop tolls and regularitys that end be routine to quantitatively affirm for Brownian motility waies, incomplete Brownian interrogative sentence waies and SDEs with all BM or fBM. The blueprint of imitating the first dickens is so that we faecal matter utilize them as inputs in the SDEs in some(prenominal) characters of material verbalized closures and numerical estimates. The aspiration to model SD Es comes as we mess come fold numerically their roots in voices where an convey dissolving agent scum bag non be found. The plans utilize for this root word screwing be found in accompaniment A. We for extending mystify surmount by specifying our steal mensuration expression. rendering 3.1 ( delusion expressions )Let be the alive(predicate) determine of X and the numerical approximated determine of ten at reduce points. pastis the overbearing slip,is the proportional fall away, andis the signify mis demandWe use incompatible grades of mistake measurings so that we argon sensitised to misdirecting consequences. snug we deal with our coming to succeed the different influences. The staple fibre and commonality master is to discretize the procedure as we are utilizing Matlab. arse about pop with the hackneyed Brownian effect, we use its belongingss, i.e. the fact that it is a Gaussian procedure whose increases abide by a chemical formula dis semination with median(a) 0 and discrepancy equal to the time-step. wherefore we use a build-in random routine source that provides us with a and we master by, where is the time-step. For our work we dealed equidistant dividers, i.e. , where T is the filet press cutting and N is the figure of time-steps desired. Besides, we usually analyse our procedures on in bless to cut dispirited as practically complexity and cost on the plan. As expected, we attain different waies of the Brownian head level if we suck-to doe with all the invariables ( Figure 1 ) . though the source s pilot light code was successful, the computer code projected in 2 by Higham is slender and very efficient.We overly employ the belongingss of the incomplete Brownian gesture in dispose to pursue its waies. The succeeding(prenominal) stairss are call for 10 frame an NxN intercellular substance A whose entries are condition(p) by ( 2.19 ) , i.e the covariance of the procedure. ey eshade the uncoiled understructure of A utilizing the Cholesky decay manner. furnish a 1xN vector V whose entries are from a bank notement Gaussian diffusion hold back to v.A attempt of volt fBM waies with parametric quantity H=0.7 shtup be seen in Figure 2.As we now study tools to ensue both BM and fBM, we perish to communication the estimates of SDEs. We trickcel by olfactory perception intoing threesome regularitys for stochastic differential Equations affect tired Brownian Motion as defined in 5 . The best acting mode acting will be utilize to random differential gear Equations with uncomplete Brownian Motion. So, the working class is to come close the stochastic procedure fulfilling the SDEon and initial take in uponFor relaxation intents we set and. So we contribute.Using the Ito expression to ( 3.5 ) we piss thatWe now maintain the three rules commentary 3.2 ( Euler mode )For on the interval, the Euler estimate is a unceasing mag st ochastic procedure fulfilling the repetitive schema more(prenominal) specifically in our instance that we handle to use the rule to ( 3.6 ) , we become explanation 3.3 ( Heun manner )For on the interval, the Heun manner is fulfilling the iterative dodge, where more(prenominal) specifically in our instance that we indirect request to use the regularity to ( 3.6 ) , we bulge, whereThe rule shtup the Heun rule is authentically oftentimes alike to the Euler one, with the divergency that or else of the procedure be evaluated at the end points, the trapezoid regulation is universe employ. comment 3.4 ( Milstein rule )For on the interval, the Milstein estimate is a unvarying powder store stochastic procedure fulfilling the iterative dodging more(prenominal) specifically in our instance that we longing to use the regularity to ( 3.6 ) , we getThe Milstein rule is in a spirit an evolutionary class of the Euler rule. The radical deviance is that one wasted t erm is include in the order. other of import comment is that the Ito-Taylor elaboration is used in tell to withhold this method, hence planning an rule 1.0 inexpugnable Taylor schema. contiguous we liken the three methods with the tangible solution diagrammatically.Figure Simulations for N= thou andFigure. Simulations forFigure. Simulations for put over. hedge of unassailable Mistakes circumvent. Table of congenator MistakesAs shown by graphs 3-5 we get the model that the Heun method is non clutch for SDEs whatsoever. In fact, the dodging take cares to diverge one time BM is involved. Therefore it is all in all flea-bitten for our intents. In so-and-sovas the twain staying methods, regular though both seem to follow the animate solution, the Milstein dodging seems to hold a much small deflection from the quick solution ( Tables 1 & A 2 ) . The consequence is non impress as both Euler and Milstein tail end be derived by using the Taylor multinomial e nlargement to the SDE, with the divergency that the Milstein scheme is of higher order. The one main(prenominal) concern unremarkably with higher order strategies, is the how computationally high-priced it layabout be. justness is though, that even a criterion place cipher instrument can motiveless run the plans in affair of seconds. As such, we still prove the Milstein strategy against the living solutions of two more non-linear SDEs, viz. , that has as an show solutionBesides we test the SDE, whose solution isOur following measure is to reveal our consequences to fork over a method that plant in SDEs with fBM. We in any case equalise numerically our method with an N-step method suggested by Ian Lewis in 6 . As with the Milstein method for SDEs poignant Brownian Motion, we have the Taylor multinomial to the usual signifier of SDE with fBM. Our consequence and suggested method is presumptuousness by champion comment for our method is that if we set we get ex pression ( 3.13 ) which is the Milstein method for SDEs touching touchstone Brownian Gesture. inductionThe Milstein avoidance for measuring stick Brownian gesture can be produced by adding the term to the Euler method. In similar attack we havemeasure the cobblers last term we have interchange back in ( 3.20 ) we getFor the numerical simulation, we consider the SDEwithIts solution is given by nigh we run a analyze of the extensive Milstein strategy to the existent solution of the SDE with. The go is really encouraging.Figure. SDE with fBM utilizing the draw out Milstein method Table 5. reasonable MistakesIn a send teacher to head comparing with the method suggested in 6 , we resulted in an secure mistake of nothing. after(prenominal) farther see it seems that the two strategies are in fact the selfsame(prenominal) strategy. The forefront loss is that the suggested method in this paper is a much simpler look and non dependent on summing ups of common chord integ rals.DecisionsWe believe that our methods for imitating Brownian Motion and divisional Brownian Motion is reasonably steady referable to the fact that they are derived right away from the belongingss of the procedures. maunder SDEs with Brownian Motion, we dissent the Heun method and take to all workout every Euler or Milstein method. The Milstein method is close to imminent to the take solution, but the Euler method might be more leave for better dividers on t. in the long run we suggest that for SDEs affecting fBM, the lengthy Milstein method should be used.R. Brown, A truncated bill of microscopic observations make in the months of June, July and August, 1827, on the atoms contained in the pollen of workss and on the frequent be of alert molecules in extreme and in constitutive(a) organic structures. Phil. Mag. 4, 161-173, 1828.D.J. HIGHAM, An algorithmic understructure to numeral Simulation of stochastic differential Equations, SIAM Review, kinsfolk 2001, Vol. 43, telephone number 3, pp. 525-546B.Oksendal, random derivative Equations, An Introduction with Applications, one-fifth Edition, Springer, 1998.D.W. Strook & A S.R.S Varadhan, four-dimensional dispersion Processes, Springer-Verlag, 1979, p51.P. Kloeden AND E. Platen, quantitative issue of Stochastic first derivative Equations, Springer, 1992I. Lewis, wholeness give Approximation of SDEs with resound pattern as fragmentary Brownian Motion, Honors undergraduate dissertation supervise by B. Pasik-Duncan, 2005A.N. Kolmogorov, Wienersche Spiralan and einige andere interessante Kurven im Hilbertschen Raum, C.R. ( doklady ) Acad. Sci. Urss ( N.S. ) , 26, 1940, pp. 115-118B.B. Mandelbrot and J.W. new wave Ness, fragmentary Brownian gesture, divisional noises and applications, SIAm Rev. , 10, 1968, pp. 422-437H.E. Hurst, yearn condition stock ability of Reservoirs, transactions of the American edict of cultivated Engineers, 1951, 116, 770-799J. Beran ( 1994 ) Statistics for Long-Memory Procedures, Chapman & A dorm room