Thesis - 3585 Words

Relationship between human appetite and music Chapter 1 THE PROBLEM AND ITS SETTING/INTRODUCTION Introduction There are a lot of services served in a restaurant, like, high quality food and drinks, skilled staffs, nice ambiance and good music. Consumers are not aware that music is part of the service offered. And subconsciously, they didn’t know that music can boost their appetite and affect their mood in eating. Background of the Study Music and noise level can affect people’s enjoyment of what they eat (Journal of Culinary Science and Hospitality). Appetite in 2006, found that listening to music increased the amount of food eaten and the duration of meals, but that the speed and volume of the music didn’t have a†¦show more content†¦4. What is the level of music effect on the diners appetite: 1. Music Tempo 2. Music Preference Objectives of the Study This study wants to determine if there is a relationship between human appetite and music. This study could verify if music can really affect the mood or it can boost appetite of the consumer. Significance of the Study This study will be a significant endeavor in observing music appetite and its effect on diner’s appetite. The findings of this study are also beneficial to the following: Restobar Diners who like to eat with a good choice of music to boost their appetite. This research will help them to better understand what the relationship between music and human appetite is. Restaurant and Bar Establishments this study will help them choose the type of service to meet the consumer’s satisfaction. Future Researchers this research will help the future researchers on the subject of hotel and restaurant management, this can be their guide in making their research, this study also can be their reference. Scope and Limitation of the Study This research is limited only within the area of Gmall, Toril. The respondents are male, female, single, married and with the age of 15 years and above. The survey questionnaire of this study will be used is constructed by the group based on descriptive method. This study will be able to make known theShow MoreRelatedOutline And Outline Of A Thesis Essay789 Words   |  4 Pages1. Thesis: I think your thesis is strong and obvious throughout your paper. So I don’t think that will be something you need to change dramatically. Instead, I think the main thing you should focus on for Draft 2 is organizing your paper so it is all supporting information for your thesis. In both your background and analysis section, ask yourself whether the information is there to support your thesis or whether it a secondary point. If it is a secondary point, then I probably wouldn’t include itRead MoreFrederick Jackson Turner s Frontier Thesis1752 Words    |  8 PagesDavid Turley History 4120 Dr. Dant Frederick Jackson Turner’s Frontier Thesis In 1893, at the 400th anniversary of the appearance of Columbus in the Americas celebrated in Chicago , Frederick Jackson Turner presented an academic paper entitled, â€Å"The Significance of the Frontier in American History† In this essay, Turner proposes that, â€Å"The existence of an area of free land, its continuous recession, and the advance of American settlement westward explain American development.† The group dynamicRead MoreGraduate Writing Center: Writing Thesis and Dissertation Proposals7304 Words   |  30 PagesWriting a Thesis or Dissertation Proposal 1 Writing Thesis and Dissertation Proposals The Graduate Writing Center of the Center for Excellence in Writing Overview: This workshop will introduce basic principles of writing proposals across a range of disciplines. It will present practical strategies, and it will include examples of successful proposals. Goals 1. To introduce strategies for bridging the gap between coursework/beginning research and thesis writing. 2. To help you understand theRead MoreThe Most Important Thing You Remember About A Thesis Statement Essay1040 Words   |  5 Pagesthing to remember about a thesis statement is it gives the reader your opinion and you are entitled to your opinion. You are also giving the reader a new article to read and allow them to give feedback if necessary. This isn t new to me, for I ve done a thesis statement before and received good feedback from fellow classmates. What s different is all of us were focused on once topic and had to come up with our own thesis on that assigned topic. It worked out well. Thesis Statement Number 1: JudgingRead MoreThesis1879 Words   |  8 PagesWeb-based Enrollment Information System for Asian Computer College A Thesis Proposal Presented to the Computer Studies Department City College of Calamba In Partial Fulfillment Of the Requirements for the Degree For Bachelor of Science in Information Technology 3rd Rev. SY 2011-2012 Bagsic, Abegail C. Dela Cruz, Jeaniva C. Recamata, Julie Ann A. August 2011 1.0 The Problem and its Background 1.1 Introduction Modern technology is a part of our daily life. It helps individuals and industriesRead MoreThesis1867 Words   |  8 PagesWeb-based Enrollment Information System for Asian Computer College A Thesis Proposal Presented to the Computer Studies Department City College of Calamba In Partial Fulfillment Of the Requirements for the Degree For Bachelor of Science in Information Technology 3rd Rev. SY 2011-2012 Bagsic, Abegail C. Dela Cruz, Jeaniva C. Recamata, Julie Ann A. August 2011 1.0 The Problem and its Background 1.1 Introduction Modern technology is a part of our daily life. It helpsRead MoreThesis1157 Words   |  5 PagesSocial Media Scope Note:This webliography consists of articles, researches, web pages, and web resources on social media. Social media is the term for employing mobile and web-based technologies to create highly interactive platforms via which individuals and communities share, cocreate, discuss, and modify user-generated content. [Source: http://beedie.sfu.ca/files/PDF/research/McCarthy_Papers/2011_Social_Media_BH.pdf] INTERNET SITES Engaging Youth in Social Media: Is Facebook the New MediaRead MoreThesis1096 Words   |  5 PagesReport To: The Board of Directors From: Date: Subject: Draft budget for 2013/14 and alternative strategies This is with reference to the board meeting held on 10th of October 2012, I have evaluated the draft budget and following four strategies which are under your consideration to enhance profitability of Sarika Ltd. (the Company) to meet its 20% return on capital. * Paul Burnss Proposal (Shut down of Product Z and sale of related machinery for  £5k) * Bob Berrys ProposalRead MoreThesis1205 Words   |  5 PagesCHAPTER 1 Introduction: This chapter contains the rationale, Objective of the Study, Scope of Limitation, Significance of the Study, and some definition of Terms. Rationale: Electronic Voting for Global Vote for Rights by Children International – Tabaco is joining at the World Children’s Prize. It is an education program for all children. Their goal is to become more humane world, where children’s rights are respected by all. And there will be a new way of voting and to make voting processRead MoreThesis682 Words   |  3 PagesCHAPTER 1 BACKGROUND OF THE STUDY AND ITS PROBLEM I.INTRODUCTION This chapter discloses the basis on how the researcher comes up with the project, This includes the conceptual framework, objectives, scope and limitations that set the boundaries of workbench, the significance of project in all possible aspects, and definition of terms as used in the context of this paper. II. BACKGROUND OF THE STUDY Inventory System is the process where by a business keeps track of the goods and material it has

The Art Of Paintings - 978 Words

The goal of my creative project was to create various splatter paint works that each represented a key human emotion. I settled on just three and I chose joy, anxiousness, and depression. I bought three 8 by 10 inches blank canvases to do my work on, paint, and an assortment of brushes. Before I started I looked up a video on different splatter paint techniques, and I became interested in adding some texture to my artwork, so the first painting I worked on, representing joy, I added some saltwater to it and actual grains of salt. I really wanted this artwork to stand out from the other two, because of how different this emotion is. The canvas has a yellow background, because I wanted all the bright colors I used to really pop on the†¦show more content†¦I knew this activity would be messy, but I did enjoy it and I learned that you really can’t go wrong with a splatter painting. No matter what you do, it is going to be interesting in way, because no one has done someth ing like it before. I really enjoyed splatter painting, it was an enjoyable way of just showing my creativity and letting my mind flow. I think it would be even better to do this with a friend rather than just by yourself, and next time I will mix other paint colors to create more interesting colors. The creation showed me that I’m capable of doing at least one thing that is artistic, before I would say that I couldn’t even draw a straight line correctly. These three artworks are important to me, because I have never created art that I am proud of, this is the first time that has ever happened. I am satisfied with my result, I expressed everything in the way I imagines it. I’m not sure that people could just as readily recognize what emotions each canvas represents, but that doesn’t bother me, I’d rather just get some type of reaction out of them than nothing. I do consider the part of my brain that comes out with ideas to be creative, but there are times that I can’t just make my own idea, I need inspiration from many diverse sources first. I do think my artwork shows imagination, because IShow MoreRelatedEssay on The Art of Painting: Watercolor Paints1545 Words   |  7 PagesThe art of painting dates back to pre-historic times, the finger used as a paintbrush on the canvas of cave walls. When it comes to painting, artists have many mediums to choose from: acrylics, oils, gouache, fresco, and watercolors. Watercolors is one of the toughest mediums to achieve, its transparent streaks almost impossible to cover up and its various techniques prestigous and precise, but satisfying when accomplished. The incentive a watercolor artist has to get a taste of perfecting theirRead MorePainting At The Oklahoma City Museum Of Art1209 Words   |  5 PagesOn September 4, 2016, I visited the Matisse in His Time exhibit at the Oklahoma City Museum of Art. This exhibit is home to a plethora of pieces by many different European artists from the 19th and 20th centuries. While it is focused on Matisse and his extensive works, containing more than 50 of his pieces, there are many portraits and sculptures by other influential artists from that time period including Renoir, Picasso, and Georges Braque. Three of the most appealing works that I encountered inRead MoreThe Painting Of The Secret By Jackson Pollock Is Good Art777 Words   |  4 Pages Art is much more than throwing paint on a canvas, and saying here is a painting worth millions. Art takes time. Paintings and thing like such requires time for the process of thinking and creating each piece of work. Art also requires patience. When creating beautiful pieces of art, the artist needs to be able to have patience while working. Art is not just something anyone can do. Art requires much time and patience to be considered good art. The painting Guardians of the Secret by Jackson PollockRead MoreArt Critique : The Painting Of The Mia Will Be Portrait Of Catherine Coustard 764 Words   |  4 PagesSilverstein Philosophy of Art 11/18/2015 Art Critique The paintings that I will be talking about from the MIA will be Portrait of Catherine Coustard (1673-1728), by Nicolas de Largilliere, Diogenes (17th century), by Johann Carl Loth, LES FLANEUSES (2008) by Ghada Amer, and Portrait of Lucia Wijbrants (1638-1719), by Gabriel Metsu. My critique will be from the perspective of Berger. when captions are added to a painting, it impacts the viewer and changes the meaning of the painting itself. LES FLANEUSESRead MoreEssay about Art Appreciation - Anger of Achilles Painting944 Words   |  4 Pagesmission to find a painting that either caught my eye or would stop me dead in my tracks, I discovered â€Å"The Anger of Achilles.† This oil painting seemed to call me hither to take a closer look. As I walked closer, the painting became more clear and vivid. It was as if Jacques-Louis David was oil painting in high definition. This is a stunningly clear oil painting. So clear, it resembles a modern day photograph. The expression on the faces of each character in this painting drew me in even moreRead MoreThe Discipline of Chinese Painting: An Internal Reflection of Life Art1548 Words   |  7 Pagescontact with a Chinese painting, the style is almost instantly recognizable. The attention to detail, craftsmanship, and vast depictions of elaborate landscapes appear to pay homage to mother earth in an attempt to reach a state of eternal balance with nature and life. Before this equilibrium could be achieved, one must attain internal discipline. This was required before one began mastering their brushwork in Chinese culture. In Mai Mai Sze’s â€Å"The Way of Chinese Painting,† 1959, New York: VintageRead MoreDeaf Art Is More Than Just A Painting Or Drawing1715 Words   |  7 PagesDeaf Art Deaf art is more than just a painting or drawing. So, what exactly is Deaf art? Deaf art is something that can bring together the Deaf Community. The feelings that the Deaf experience are now brought onto a canvas. Art plays a huge role in the Deaf community. After all, the Deaf are thought of as the best visual people. Deaf artists bring their Deaf pride and pour their hearts out into their art works. They are great role models to the people in their community. The first Deaf artistsRead MoreThe Communal Power of Art: Analyzing Four Great Paintings1270 Words   |  5 Pagesprinciple aspects of the value of art is its ability to accurately and creatively depict life around it, which in turn is responsible for the engendering of such art. Therefore, it is highly prudent to analyze the surrounding context in which art is both created and adjudged for its monetary and aesthetic merit. Even a brief analysis of the four articles contained within this document demonstrates that there is a considerable degree of influence in the society of art and artists that is responsibleRead MoreThe Cave Paintings, A Form Of Rock Art ( Keegan, 2014 )1295 Words   |  6 PagesThrough history, we have seen the use of communication and how it evolved from the early eras to this very modern day. The oldest known symbols created with the purpose of communication through time are the cave paintings, a form of rock art (Keegan, 2014). Then came the use of petroglyp hs (carvings on rock surface), pictograms (symbols representing objects, concepts and activities), and ideograms (graphical symbols representing data). What followed is the cuneiform system, whose original form beganRead MoreWhat Sense Is Seventeenth Century Dutch Painting An Art Of Describing?1828 Words   |  8 Pagesseventeenth-century Dutch painting an art of describing? Focusing on two works of your choice, consider the possible relationships between artworks and contemporary forms of social behaviour and/or new knowledge. The distinctive pictorial mode of 17th Century Dutch painting can broadly be categorised as descriptive. Realism is employed in rendering scenes of everyday life through various iterations of subject matter found in the real world. Distinct from Renaissance art of the south, subject matter

Dickens Attitude toward Victorian Customs of Crime and...

Dickens Attitude toward Victorian Customs of Crime and Punishment During the novel called Great Expectations, Charles Dickens makes it obvious to us how he feels about crime and punishment in the Victorian era. This essay will examine some of the ways he expresses his feelings and makes his attitude clear. The first way that Dickens reveals part of his attitude is by the words and phrases he uses to describe the escaped convict. To show the readers that the man he is describing is an escaped convict, Dickens uses such words and phrases such as: A fearful man, all in course grey, with a great iron on his leg. A man with no hat, and with broken shoes, (page 6) Dickens is trying to point out that he feels the treatment of†¦show more content†¦As I have mentioned before, each prisoner had to wear an iron on his leg. As well as the iron leg: Both were bleeding and panting and execrating and struggling and seemed to be bruised and torn all over. He could not so much as get his breath to speak, (Page 35 and 36) These two extracts from the book both show that the treatment was horrendous. Dickens mentions blood, bruising, etc, which paints a picture in the readers mind and makes them feel how poor the handling of criminals actually was. On addition to this, Dickens says that each prisoner had to stop and rest. This adds to the point that Dickens tells us, which is that the treatment of criminals was appalling. Compared to nowadays, there is a clear difference. The treatment of criminals today is luxury when matched against the treatment of criminals in Victorian times, which was exceptionally poor. Another point that I would like to talk about is the unfair power of a defence attorney at the time. Mr Jaggers, as we can tell from the book, is a defence attorney. In fact he is a very powerful one. He is in control of his clients and can make them do what he wants. The reason for this is because his clients depend upon him, otherwise he will not defend them and they will get sentenced. The point that I am trying to make here is that it is again unfair for the guilty person. Dickens is telling us that, although that may

The Law Enforcement Code Of Ethics - 1221 Words

Police officers who lie should indeed by terminated as a matter of public policy. This unprofessional behavior has a very damaging effect on the effective and efficient service of policing. The IACP Law Enforcement Code of Ethics, which governs the conduct of police officers, clearly emphasizes on the need for desisting from deceitful behavior and for officers engaging in actions that cultivate public trust and confidence from the citizens. As such, Integrity is an essential job requirement for any law enforcement official. According to Serpas (2010), the truthfulness of a police officer is not only an issue of witness credibility in the court, but is also the fundamental nature of the police service. Therefore, untruthful conduct needs to be subject to the most serious disciplinary action, which is termination. Imposing the penalty of termination on untruthful officers is fair as a matter of public policy because it helps to streamline the entire criminal justice system. According to Spector (2008), police supervisors often make decisions based upon the information that they receive from other police officers. Hence, when the officers distorts the truth or intentionally gives false information to the supervisor, the supervisor might end up making misinformed decisions that can undermine the effectiveness of the force. In addition, under the collective knowledge doctrine, law enforcement officers in executing their duties rely upon the information given to them by fellowShow MoreRelatedThe Law Enforcement Code Of Ethics966 Words   |  4 Pages The Law Enforcement Code of Ethics has been established as a reminder to law enforcement officers, the trust that the public has placed in them, and the ethical way that they live their lives, both on, and off duty (Bohm, 2010). Many police depart ments use the basic code as a part of the swearing in ceremony, or at the graduation of a police academy class. 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Boeing Bond Analysis Free Essays

string(43) " for the year of 2011 was 4,011\+498498=9\." Boeing Bond Analysis Presented to Dr. —– Prepared by Filipe Ferro October 9, 2012 Table of Contents Boeing Company3 Bond Issue3 Unsystematic Risk4 Principal Repayment4 Debt to Invested Capital4 Debt to Equity4 Current Quick Ratios5 Interest Repayment5 Times Interest Earned5 Credit Position6 Competitor Analysis6 General Dynamics6 Northrop Grumman7 Systematic Risk7 Market Responsiveness7 Duration8 Modified Duration9 Accuracy of Rating9 Interest Rate Expectations9 Summary10 Appendix11 Descriptive Statistics11 Regression Analysis11 Duration Modified Duration12 References13 Boeing Company Boeing is a manufacturer of aircrafts and national defense equipment making it a member of the Aerospace Defense industry. It was founded in Seattle, Washington on July 15, 1916. We will write a custom essay sample on Boeing Bond Analysis or any similar topic only for you Order Now It is headquartered in Chicago, Illinois, USA. Commercial aircraft include the 737, 747, 777, and very recently, the 787. Military products consist of high-dexterity and stealthy aircraft such as a the A-10 Thunderbolt II and highly-efficient and powerful satellites such as the Boeing 601. 1 Its biggest competitors are Northrop Grumman, General Dynamics, and Airbus. According to Morningstar, Boeing employed 171,700 people and revenue reached $69 billion in 2012. 2 Bond Issue The bond I have chosen to analyze is a debenture with a maturity date of August 15, 2021. Morningstar shows this bond issue consists of 400 million $1,000 par value bonds with 398 of them outstanding. The bond is a semi-annual fixed coupon bond with an annual rate of 8. 75%. The accrual start date was August 15, 1991. The original life of the bond was 30 years and the remaining life as of October 2012 is a little over 8 years and 10 months. This bond issue is non-callable, non-putable, non-convertible, and it is not subject to Rule 144A. These bonds are currently selling at 135. 20% of par value as of September 29, 2012, making their price $1,352. Standard Poor’s NetAdvantage rates this issue as an A. Its current yield ratio is 6. 47. I have always been enthusiastic about airplanes. My first experiences in flight were in Boeing aircrafts. I also chose this bond issue because of Boeing’s large size, reputation, and financial security. Selecting a debenture is risky and requires strong financial security since the only security backing it is the issuing company’s credit rating. With a current yield of 6. 47 resulting from the relatively high coupon rate of 8. 75%, this is a great bond for a fixed income (coupon pays $87. 50 annually). Unsystematic Risk Principal Repayment Debt to Invested Capital In recent years, Boeing’s debt to capital ratios have been 42% for 2007, 112. 9% for 2008, 85. 2% for 2009, 80. 6% for 2010, and 74. 0% for the end of 2011. Boeing’s total debt to invested capital ratio is 65. 3% (as of June 2012)3. Standard Poor’s calculates this as (total debt)/(total equity + total debt), 2,466,000+8,735,0005,892,000+11,201,000. This means that debt makes up about 65% of all invested capital. Boeing still has 35% of capital that is not tied to debt. This is good compared to the last few years. This ratio is on a downward trend. Debt to Equity Boeing’s total debt to eq uity ratio is 1. 51 (as of June 2012) 3, meaning that for every $1 in equity there is $1. 51 of debt. This is calculated as 8,735,0005,804,000 on the balance sheet. According to Standard Poor’s Industry Survey, Boeing’s debt to equity ratio at the end of 2011 was 2. 85. The Aerospace Defense industry average from 1981 to 2011 was 0. 90. 4 The industry survey states that Boeing’s high debt to equity ratio is due to its â€Å"financial arms† since it has a large financing department. It is also probably due to its new model plane, the 787 Dreamliner, which requires a relatively expensive manufacturing processes – unibody parts made up of composite carbon fiber materials – and advanced electronics and sensors. These higher costs require raising more capital than the average model plane. While debt has priority over equity in being repaid, debentures are at the bottom of the list, which is why this high ratio may be a concern for holders of Boeing’s bond issues. If bankruptcy occurs, debentures will be the last of debt holders to get paid. Although it is not exactly good to have this somewhat high ratio, knowing that Boeing has a brand new and appealing aircraft reassures that positive future cash flows will cover this financial leverage. SP’s NetAdvantage highlights the potential sales to emerging airlines from China and airlines with old worn out planes in the U. S. and Europe. SP’s industry survey states â€Å"China, India, the Middle East, Eastern Europe, and Latin America, will drive growth in global air travel and demand for new aircraft. †4 The market for aircraft purchases looks like it will grow in the coming years, thus Boeing will have greater opportunities for sales. Current Quick Ratios The current assets to current liabilities ratio was 1. 22 for the 4th quarter of 2011, which means every $1 in current liabilities is covered by $1. 22 in current assets. Boeing has enough current assets to pay off all its current liabilities if it needed to do so. The current ratio has been 0. for 2007, 0. 8 for 2008, 1. 1 for 2009, and 1. 1 for 2010. The current ratio has been on an upward trend since 2008 which would imply added financial security in forecasts. But the current ratio assumes that a company’s current assets are highly liquid. This might not be the case with Boeing, whose inventory is made up of large and expensive aircraft a nd is not as highly traded as smaller inventory such as food in a grocery store. The quick-ratio would be more accurate for Boeing, which is 0. 39. Boeing – using only its instantly liquid assets – would not be able to pay off all of its short-term liabilities if it was required to. Interest Repayment Times Interest Earned As of December 31, 2011, Boeing had a net income of $4 billion and an interest expense of $498 million. Its times interest earned for the year of 2011 was 4,011+498498=9. You read "Boeing Bond Analysis" in category "Papers" 05. From 2006 to 2010, times interest earned has been 4. 72, 21. 7, 6. 12, 4. 94, and 7. 42 respectively. From these figures, it seems that Boeing’s TIE ratio has been on an upward trend since the 2009 ratio of 4. 94. The most recent ratio of 9. 05 suggests that Boeing is capable of paying its interest expense since its profit is over 9 times greater than its interest expense. Credit Position According to Mergent Online, Boeing has never had a bankruptcy proceeding of any type (chapter 11 restructuring, etc), which implies that it has never defaulted on any of its debts. Mergent also states Boeing â€Å"had $4,600,000,000 available under credit line agreements†5. Considering Boeing already has $12,371,000,000 in long-term debt, $4,600,000,000 is still considerable amount. Boeing is still within reasonably comfortable limits within its credit line usage. In addition, Standard Poor’s Bond Guides shows that it has rated this issue of Boeing’s bonds in the A range for the last 4 years. Overall, Boeing seems to have good character. Many of Boeing’s bond issues have been rated as A+ over the last 4 years. Competitor Analysis General Dynamics General Dynamics currently has 2 outstanding bond issues, both rated A by Standard Poor’s. Its debt to invested capital ratio in the 4th quarter of 2011 was 22. 6% compared to 74% for Boeing6. General Dynamics’ assets are tied to a much lower amount of debt than Boeing. The current ratio for General Dynamics is 1. 4 as of 2011 while Boeing’s was 1. 2. In addition to its low debt to capital ratio, its debt to equity ratio is also low at 3,930,00013,232,000=0. 0. Boeing’s debt to equity ratio is a little higher at 1. 51. With a higher debt to equity ratio, Boeing’s leverage is slightly larger. Boeing’s bond issue may have a little more risk of being subordinated by other bonds. A low debt to equity ratio reflects a financial healthy company because it means that it needs a relativel y small amount of financial leverage. Times interest earned for the year of 2011 was 2,252+155155=15. 53. Again, this makes General Dynamics’ bonds less risky. In contrast, Boeing has more liquidity in its stock at an average trading volume of 4,344,230. General Dynamics’ average trading volume is only 1,642,0007 which means General Dynamics’ ratios are subject to more volatility. With a higher trading volume and a new, cutting edge plane, this may offset Boeing’s higher risk compared to General Dynamics. Northrop Grumman The current ratio as of the 4th quarter of 2011 for Northrop Grumman was 1. 4. Its debt to equity ratio was 3,948,00010,715,000=0. 37. Times interest earned was 2,086+221221=10. 44. 8 Like General Dynamics, Northrop Grumman’s ratios also suggest lower unsystematic risk compared to Boeing. Although the bonds may also be more volatile because just like General Dynamics, Northrop Grumman has a much lower average trading volume (at 1,533,070) than Boeing does. Systematic Risk Market Responsiveness Date| YTM-Boeing| YTM-Avg. A Rated Market| Mar-08| 5. 28%| 6. 24%| Jun-08| 6. 09%| 6. 43%| Sep-08| 6. 01%| 6. 55%| Dec-08| 7. 16%| 6. 70%| Mar-09| 6. 50%| 6. 66%| Jun-09| 5. 92%| 6. 39%| Sep-09| 4. 96%| 5. 56%| Dec-09| 4. 69%| 5. 77%| Mar-10| 5. 13%| 5. 80%| Jun-10| 4. 69%| 5. 44%| Sep-10| 3. 67%| 5. 01%| Dec-10| 3. 89%| 5. 52%| Mar-11| 4. 56%| 5. 52%| Jun-11| 3. 93%| 5. 26%| Sep-11| 3. 66%| 4. 54%| Dec-11| 3. 0%| 4. 40%| Mar-12| 3. 32%| 4. 51%| Jun-12| 2. 63%| 4. 14%| Sep-12| 2. 56%| –. –| Below is a list of Boeing’s yields to maturity and the AA-rated bond market yields to maturity according to the SP Bond Guide: Yield to maturity has been on a downward trend since December 2008 for both Boeing and the rest of the AA-rated bond market. It seems like the YT Ms for Boeing and the rest of the market move together. The null hypothesis for this situation would be that the market movement has no correlation to Boeing’s movement in YTMs; therefore the slope would be 0 for a linear regression of the scatter plot below. The alternative hypothesis is that the market does have some influence. The null hypothesis can be tested with some calculations. The test statistic is calculated by taking the value of the beta 0. 96 and dividing it by the standard error of 0. 11132, we get 8. 62. Using the test statistic and a level of significance of 10%, the corresponding P-Value is 0. 0000000007. Anything to the left of the 10% level of significance is a rejection of the null hypothesis. The P-Value is well below the level of significance of 10% and therefore the null hypothesis should be rejected. This means that the population coefficient of determination is not equal to 0 according to our sample of 18 periods. The sample yields a coefficient of determination of 0. 91. Boeing’s movement in YTM can be explained by a movement in market YTM 91% of the time. Boeing’s YTMs have a strong positive correlation with the market’s YTMs and makes its bond issues just slightly less volatile to movements in the market. Duration This bond issue has a par value of $1,000 and a coupon payment of 8. 75% semi-annually. The coupon payment is $87. 50 and the latest rate for the AA bond class, according to the Wall Street Journal, is 1. 3%9 as of October 2, 2012. The present value of this bond is $1,569. 44. The weighted present value of this bond is $11,157. 82. The current duration for this bond issue is 7. 11 years. It will take a little over 7 years for this bond to cover the initial investment. Modified Duration The modified current duration is calculated as the current d uration divided by 1 + (bond class interest rate). In this case it is 7. 111+0. 0183=6. 98. This means that for every 1% increase in market interest rates, this bond issue will go down 6. 98% in value. Accuracy of Rating Standard Poor’s definition for an A rating is defined as a â€Å"strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances. With a beta of 0. 63 and a current duration of 6. 98%, it seems like the rating of A is accurate according to the â€Å"somewhat susceptible to adverse economic conditions† part of the definition. For the â€Å"strong capacity to meet financial commitments†, I also feel like this fits Boeing since it has a times interest earned ratio of 9. 05 and a current ratio of 1. 22. Interest Rate Expectations According to the Federal Reserve Board press release of September 13, 2012, the announced quantitative easing program will keep bond prices high and interest rates low, at least for the short-term (next year). Also, the economy has expanded somewhat in recent months, but still at a lower than expected rate10. This suggests that interest rates will remain mostly unchanged since there is not a lot of spending. The Washington Post’s front-page article on October 2, 2012, stated that Americans â€Å"do not want to take any risks with their money – even as the government is encouraging risk-taking†11. According to the Fisher Effect, when expected inflation rises, interest rates will rise12. With low inflation expectations, we can expect a continuation of low interest rates. Instead of trending they will be â€Å"ranging†. As of October 2, 2012, a 10-year Treasury bond had a yield of 1. 64% while AA-Rated bonds had a yield of 1. 83%. The spread is 0. 19. The present value of a single bond from this issue is $1,569. 44. With interest rates rising only 10 basis points by the end of this year and with a modified duration of 6. 98, the present value will drop by 0. 698%. $1,569. 44(1 – 0. 00698) = $1,558. 9. The estimated yield to maturity for Boeing one year from now with a 20 basis point increase is YTM-BA = -3. 2949 + 1. 4426(4. 34) + 0. 001 = 2. 97% for Boeing, up from 2. 63%. 4. 34% is 20 basis points above the last market YTM data point of 4. 14%. This small rise in interest rates means Boeing’s bond issue is going to drop slightly in price. Summary I would d efinitely buy this bond despite some of its shortcomings. Boeing may be heavily leveraged at the moment, but it still has other ratios that show its financial health, such as market capitalization, the debt to equity ratio of 1. 1 and the current ratio of 1. 22. Additionally, Boeing’s new model airplane, the 787 Dreamliner, is a positive prospect for future financial health. According to Mergent’s records, Boeing has never defaulted on its loans before and with 96 years of history I wouldn’t expect a default any time soon. Appendix Descriptive Statistics YTM-BA%|   | YTM-A%|   | |   |   |   | Mean| 4. 755| Mean| 5. 58| Standard Error| 0. 291509762| Standard Error| 0. 193077925| Median| 4. 69| Median| 5. 54| Mode| 4. 69| Mode| 5. 52| Standard Deviation| 1. 236771176| Standard Deviation| 0. 19160259| Sample Variance| 1. 529602941| Sample Variance| 0. 671023529| Kurtosis| -0. 700358347| Kurtosis| -1. 043305373| Skewness| 0. 246024371| Skewness| -0. 261513 425| Range| 4. 53| Range| 2. 56| Minimum| 2. 63| Minimum| 4. 14| Maximum| 7. 16| Maximum| 6. 7| Sum| 85. 59| Sum| 100. 44| Count| 18| Count| 18| Regression Analysis Duration Modified Duration References 1Boeing. (1995). A-10 Thunderbolt II. Retrieved 2012 05-October from http://www. boeing. com/defense-space/support/maintenance/a10/index. html 2Morningstar. (2012, September 28). Boeing Co BA. (N. Dihora, Editor) Retrieved September 29, 2012, from Morningstar: http://www. morningstar. com 3StandardPoor’s. (2012, October 02). Boeing. Retrieved October 02, 2012, from Standard;Poor’s NetAdvantage: http://www. netadvantage. standardandpoors. com 4Tortoriello, R. (2012 26-July). Industry Surveys: Aerospace Defense. Retrieved 2012 05-October from StandardPoor’s: http://www. netadvantage. standardandpoors. com. proxymu. wrlc. org/NASApp/NetAdvantage/showIndustrySurveyPDF. do? loadIndSurFromMenu=pdf 5Mergent Online. (2011, December 31). Boeing Co. (The) (NYS:BA): Long Term Debt. Retrieved October 1, 2012, from Mergent Online : www. new. mergentonline. com. proxymu. wrlc. org/companydetail. php? pagetype=longtermdebt;compnumber=1048 6Standard;Poor’s. (2011, 12 31). Genl Dynamics. Retrieved 10 02, 2012, from NetAdvantage: http://www. netadvantage. standardandpoors. com. proxymu. wrlc. org/NASApp/NetAdvantage/cp/companyFinancials. do 7Yahoo! (2012, October 03). General Dynamics (GD). Retrieved October 03, 2012, from Yahoo! Finance: http://www. finance. yahoo. com/q? s=GD 8Yahoo! (2012, October 03). Northrop Grumman Corportation (NOC). Retrieved October 03, 2012, from How to cite Boeing Bond Analysis, Papers

Contrasting Places in a Mid Summer Nights Dream free essay sample

Many plays and novels use contrasting places (for example, two countries, two cities or towns, two houses, or the land and the sea) to represent opposed forces or ideas that are central to the meaning of the work. Choose a novel or play that contrasts two such places. Write an essay explaining how the places differ, what each place represents, and how their contrast contributes to the meaning of the work. Structure Vs. Chaos A Midsummer Night’s Dream Contrasting places have been used in many works of literature throughout history to strengthen the meaning of stories. The use of two different settings within one story often represents opposed forces or ideas, and allows readers to get a better grasp of the meaning behind the story. William Shakespeare uses the differences between Athens and the Forest to strengthen the theme of his story in the play A Midsummer Night’s Dream. In the city of Athens’ there is law and structure, but moments away there is the forest where there are no rules to abide by – emotions and love are the only things that matter in the forest whereas the city stands only for law and justice. Through the two drastically contrasting settings of the city of Athens and the mystical forest, Shakespeare’s A Midsummer Night’s Dream illustrates the way that nature can offer mankind an escape from their structured lives in the city while simultaneously reminding them of how good they have it at home. The beginning of the play is set in the city of Athens. In the first scene we learn that the laws of Athens are unforgiving and extremely harsh. The ultimatum given to Hermia, to either die or become a celibate nun never to be married, illustrates a harsh world of duty and obligation where feelings of love and happiness are ignored. The treatment of Hermia in this scene shows how little care she is shown by the members of society – even her father. Her individual wants and emotions are completely overlooked, to her father and the members of the government she is nothing more than a piece of property. Helena belongs to her father, and it is up to him – not her – to decide on her future. â€Å"As she is mine I may dispose of her; Which shall be either to this gentleman Or to her death, according to our law Immediately provided in that case. † (I. i. 38) In the city of Athens the strict laws forbid Hermia and Lysander from happily marrying each other. For this, they conclude that the only way that they can be truly happy together is if they run away with each other to the rule free forest. Lysander and Hermia believe that the forest will offer them an escape from their dictated lives in the city. There, gentle Hermia, may I marry thee; And to that place the sharp Athenian law Cannot pursue us. If thou lovest me then, Steal forth thy fathers house to-morrow night; And in the wood, a league without the town, (I. i. 156) For the two lovers, the forest stands in magical contrast to the harsh Athenian laws. Hermia and Lysander’s escape to the forest represents the desire that mankind has to be one with nature in hopes that they will be able to live a life free of rules and structure. The forest is nearly the complete opposite of the structured, law abiding city. The forest is a place where man goes to escape from the troubles of the city. As opposed to the city where everything relies on structure and justice, the forest is dictated only by emotions and instinct. When the Athenian couples are in the forest, they aren’t bound by courtly rules, and are able to pursue their feelings as they desire. From the very beginning of the play, the forest is made to seem like a magical world where the strict rules of Athens do not apply. Hermia and Lysander run off to the forest in order to love. â€Å"There my Lysander and myself shall meet. And thence from Athens turn away our eyes To seek new friends and stranger companies. † (I. i. 220) Unlike the city, the natural world has no rules or structure and allows man to have his natural feelings without bottling them up or silencing them. What seemed like a brilliant escape plan however soon turns into an experience that none of the young lovers expected. The lack of structure and law – which were the very things they were trying to escape – ended up leading to chaos. The love potion created by King Oberon and administered to the four lovers by Robin Goodfellow (Puck) causes both Lysander and Demetrius to fall in love with Helena, even though they are both really in love with Hermia. Lysander claims that he was wrong in loving Hermia, and he has suddenly seen the light, and realized that he loves Helena and not Hermia. â€Å"Content with Hermia! No: I do repent The tedious minutes I with her have spent. Not Hermia but Helena I love† (II. ii. 111) This is ironic because magic, not a sudden epiphany, is the actual cause of Lysander’s newfound love for Helena. With Lysander’s new realization Shakespeare is able to illustrate the lack of reason in the forest – he is able to show how instead of reason ruling decisions and thoughts, magic is actually in control. In the characters efforts to escape their seemingly horrible lives in the city, they actually ran into a place even crazier. Yet, as horrifying as it was for them it allows them to appreciate their lives at home more. Shakespeare’s use of two distinct settings one signifying the harsh, colorless world of responsibility and obligation and one a world of illusion where almost anything is possible shows the importance of creating a balance between the freedom that nature offers and the structured rules of life in the city. Athens symbolizes reason, whereas the forest symbolizes a place of mystery. At first, Athens was â€Å"a paradise† to the characters in the play, but when the laws of Athens turn against them it soon become a place they hate, turning from â€Å"heaven unto a hell! † (I. ii. 204) In order to escape their constricting lives in the city they ran away to the forest. Symbolizing an alternative to the rational and ordered life of the city, the young lovers hoped that the forest would offer them what the city could not; freedom. Rather than the freedom they were hoping for they received far from it, this time they were prisoners of magic rather than laws. It did not leave them completely empty handed though, at the end of the play, King Oberon granted protection to the lovers future children. ?†Every fairy take his gait. ?And each several chamber bless ?Through this palace with sweet peace. ?And the owner of it blessed ?Ever shall in safety rest. †(V. i. 366) Also, though not without the help of magic, the lovers came out of the forest happy and content. Whether it be because of the potion, or Demetrius’ past feelings, he and Helena were happily in love at the end, and Lysander and Hermia finally got the marriage they wanted. I pray you all, stand up. I know you two are rival enemies; How comes this gentle concord in the world That hatred is so far from jealousy To sleep by hate, and fear no enmity? (IV. i. 143) The forest offered the lovers an escape from their structured lives in Athens, but showed them the other side of the spectrum where chaos and magic rule, leaving them to appreciate the harshness of Athens. From forests to cities, from peaceful households to chaotic ones, the use of contrasting places within a novel or a play has been used since the beginning of writing. Often times these contrasts can shape the whole meaning of the story, sometimes they add to the theme or symbolize something on its own. Regardless, contrasting settings in a novel or play more often than not contribute to the central meaning of the story. Shakespeare’s use of two drastically different settings in A Midsummer Night’s Dream, allowed him to show how man can temporarily escape from his problems through nature but in the end be left with newfound appreciation for his home.