...MASTER MINDS - QUALITY EDUCATION BEYOND YOUR IMAGINATION 8. BUDGETARY CONTROL 1. DEFINE THE TERM BUDGET. Definition: Budget is a financial and /or quantitative statement, prepared and approved prior to a defined Period of time of the policy to be pursued during that period for the purpose of attaining a given objective. It may include income, expenditure and employment of capital. Features: 1. 2. 3. 4. Financial and/or Quantitative Statement. Futuristic prepared and approved prior to a defined period of time. Goal Oriented for the purpose of attaining a given objective. Components Income, Expenditure and Employment of Capital. 2. WHAT ARE THE OBJECTIVES OF BUDGETING/PERFORMANCE BUDGETING? The objectives of Budgeting are 1. To encourage selfstudy in all aspects of a Company's operations. 2. To get all members of management to “put their heads” to the basic question of how the business should be run, to make them of a coordinated team operating in unison towards clearly defined objectives. 3. To promote the planning process and provide a sense of direction to every member of the organization. 4. To force a definition and crystallization of Company policies and aims. 5. To increase the effectiveness with which people and capital are employed. 6. To disclose areas of potential improvement in the Company’s operations. 7. To stimulate study of relationship of the Company to its external economic environment for improving the effectiveness of its direction...
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...United Kingdom Independent Party (UKIP) UKIP is right wing political party founded in1993 with overall objective from the United Kingdom to leave the European Union and for UKIP to create a right-wing Britain. UKIP is a minority party in British politics with only one seat in the House of Commons and three seats in the House of Lords History UKIP was created in 1993 by Alan Sked and other members of the cross-party Anti-Federalist League (The Anti-Federalist League being a small cross-party organisation in Britain, formed in 1991 to campaign against the Maastricht Treaty). Alan Sked was then leader from 1993-1997 doing little to move UKIP into mainstream politics mainly due to UKIP being overshadowed by the bigger Referendum Party. Alan Sked then left in 1997 due to the growing influence of radical, far-right opinion in the party's ranks and the idea of taking up MEP places at European Parliament if seats should be won there, instead of focusing on trying to get UKIP seats at Westminster. UKIP slowly gained ground after the resignation of Alan Sked under Michael Holmes (UKIP leader from 1997-2000) and Roger Knapman (UKIP leader from 2002-2006) with Michael Holmes causing UKIP to gain three seats and 7% of the vote in the 1999 European Parliamentary elections. This also helped by the leader of the Referendum Party dying and therefore it being disbanded. Roger Knapman caused UKIP came third with 12 MEPs being elected in the 2004 European Parliamentary elections. In the London...
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...Fixed costs do not vary with the scale of operations, and will be incurred even if the flight is cancelled. Examples of fixed cost are the rental cost of leased planes, which is time- but not operations-sensitive, and general administrative costs such as salaries. Constant costs, which cease if the flight is cancelled but are invariant to the volume of traffic carried, are also high. Examples of constant costs are the subsistence allowance paid to the cabin crew, and landing fees, which do not depend on the number of passengers, but will not be incurred if the flight is cancelled. Variable costs, which vary with the volume of traffic carried, have traditionally been quite low in the airline industry. They include ticket commissions, baggage handling, and cabin amenities including food and beverages, among other passenger-related costs. With the recent spate of cost cutting, where ticket commissions to travel agents have been eliminated by the major airlines (with the exception of Southwest Airlines), a cap of $100 commission on international flights, and drastic reductions in the quantity and quality of meals, variable costs have gone down. To counter the effects of the September 11, 2001 terrorist attacks, U.S. airlines have reduced fares to lure back lost passengers. As a result, load factors for 2002 are estimated to be around 72 percent, but the breakeven passenger load factor has risen to 81 percent, so losses for 2002 are estimated at $9 billion. (3) Thus there is...
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...schema consists of fact tables and dimension tables. Fact tables contain the quantitative or factual data about a business--the information being queried. This information is often numerical, additive measurements and can consist of many columns and millions or billions of rows. Dimension tables are usually smaller and hold descriptive data that reflects the dimensions, or attributes, of a business. SQL queries then use joins between fact and dimension tables and constraints on the data to return selected information. Fact and dimension tables differ from each other only in their use within a schema. Their physical structure and the SQL syntax used to create the tables are the same. In a complex schema, a given table can act as a fact table under some conditions and as a dimension table under others. The way in which a table is referred to in a query determines whether a table behaves as a fact table or a dimension table. Even though they are physically the same type of table, it is important to understand the difference between fact and dimension tables from a logical point of view. To demonstrate the difference between fact and dimension tables, consider how an analyst looks at business performance: * A salesperson analyzes revenue by customer, product, market, and time period. * A financial analyst tracks actuals and budgets by line item, product, and time period. * A marketing person reviews shipments by product, market, and time period. The facts--what is being...
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...role of insightful learning and meaningful learning; and Discuss application of cognitive theories in the classroom. 2. 3. 4. 5. 6. 104 CHAPTER 5 l LEARNING THEORIES - COGNITIVE LEARNING THEORIES INTRODUCTION Sometimes you wonder why the teacher use colourful chalk with some of the words written on the board. Sometimes the teacher write in capital letter with important words. These are useful as guides for the students to differentiate the important and unimportant facts. In other words, accurate perception is important in good learning. It is part of the Gestalt principles. Clearly, these principles are useful as guide for teachers as they organize their materials and learning activities. So in this chapter, we will discuss the origin and features of cognitive theory and relate them to cognitive constructivism and meaningful learning. Figure 5.1 give you some ideas related to cognitive learning theory covered in this topic. i. 105 Figure 5.1: Cognitive learning theory covered in this topic. 105 LEARNING THEORIES - COGNITIVE LEARNING THEORIES l CHAPTER 5 5.1 COGNITIVE REVOLUTION The “Cognitive revolution” is the name for an intellectual movement...
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...inverter. Pulse Width Modulated (PWM) technique may be used to control output rms voltage of the inverter. As the load is variable, the power consumed by the load (PL) may be smaller than the power generated from the renewable energy source (PR). Therefore a Flexible AC Transmission System (FACTS) Controller may be used to supply the additional power (PR – PL) from the renewable energy source to the grid. On the other hand if the power consumed by the load (PL) is greater than the power generated from the renewable energy source (PR) therefore the same FACTS controller may be used to absorb the additional power (PR – PL) from the grid to the load. In this case the FACTS controller must allow bi-directional power flow. If all the active houses are connected to the grid in the same way (proposed way), the active houses that generate more power than the load can be supplied to the active houses that generate less power than the load. Therefore a suitable FACTS controller should be designed in such a way that it can control the power flow in both directions. The idea is illustrated in the following figure. 1.2 Objectives: • Study on different FACTS controllers • Study on different renewable energy sources • Study on different energy storage devices • Study on different types of inverters • Implementation of all these resources in a smart grid ...
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...analyzing information, and recommending actions | Answer | Marketing research | | Add Question Here | | Fill in the Blank | 1 points | Modify Remove | | Question A conscious choice from among two or more alternatives | Answer | Decision | | Add Question Here | | Fill in the Blank | 1 points | Modify Remove | | Question Facts and figures related to a problem | Answer | Data | | Add Question Here | | Fill in the Blank | 1 points | Modify Remove | | Question Facts and figures that have already been recorded before the project at hand | Answer | Secondary data | | Add Question Here | | Fill in the Blank | 1 points | Modify Remove | | Question Facts and figures that are newly collected for the project | Answer | Primary data | | Add Question Here | | Fill in the Blank | 1 points | Modify Remove | | Question Facts and figures obtained by watching, either mechanically or in person, how people actually behave | Answer | Observational data | | Add Question Here | | Fill in the Blank | 1 points | Modify Remove | | Question Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors | Answer | Questionnaire data | | Add Question Here | | Fill in the Blank | 1 points | Modify Remove | | Question The use of computer networks that can store and process data | Answer | Information technology | | Add Question Here | | Fill...
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...Introduction This paper is written for the purposes of testing and exploration of Total Quality Management practices in the Euro area, with the special emphasis on the region of South Eastern Europe. The companies chosen in the report are coming from the various industries, whereas 3 of them are from retailing area, 3 from manufacturing industry and 4 from the servicing industry. Given that the seven of them can be described as multinational companies, it is expected to have results that will support differences in TQM adoption, regarding the transfer of practices and obstacles observed, when compared with the different regions in the world, especially with the early adopters, such as Japan and United States of America. In addition, it is of importance to state that in the testing process the Statistical Package for Social Science, Version 16, was used and that the exploration of the tests are in compliance with the framework proposed. The report starts with the brief introduction, then proceeds to the brief literature review that synthesizes expectations of the tests, that are fully explained and utilized, and concludes with proposals and remarks for the further tests and explorations. Literature review “Characteristic or standard measure of excellence; basic characteristic of something. Quality is a measure of the degree to which something meets a standard” (Jack P. Friedman Barron's Dictionary of Business Terms, 2001.) Total Quality Management (TQM) can be...
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...Introduction: Technical Analysis & Data Mining 1 How Data Mining Is Related to Technical Analysis Technical analysis (TA) is concerned with discovery of recurring patterns in financial market time series for the purpose of predicting and profiting from trends and trend reversals the prices of freely traded assets such as stocks, market indexes, exchange traded funds (ETF), commodities, currencies and financial futures and options . Objective TA is restricted to patterns that can be represented numerically and trading systems that produce clear cut buy and sell signals that can be evaluated on historical data. Thus objective TA is concerned with the development of trading systems. Other forms of technical analysis rely upon the visual inspection and subjective interpretation of graphs to detect patterns and predict trends. Objective TA employs indicators, which are new time series derived by applying one or more mathematical transformations to raw market data such as price, volume, open-interest and other data series produced by trading activity. For example, technical analysts apply moving averages to identify price trends. Data mining (DM) is also concerned with patterns and prediction and thus the natural fit between DM and objective TA. Data miners use specialized algorithms to analyze large data multivariate data bases containing thousands or even million of cases with the intent of discovering unobvious patterns that can be used to predict various kinds...
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...Definition of Statistics Statistics like many other sciences is a developing discipline. It is not nothing static. It has gradually developed during last few centuries. In different times, it has been defined in different manners. Some definitions of the past look very strange today but those definitions had their place in their own time. Defining a subject has always been difficult task. A good definition of today may be discarded in future. It is difficult to define statistics. Some of the definitions are reproduced here: The kings and rulers in the ancient times were interested in their manpower. They conducted census of population to get information about their population. They used information to calculate their strength and ability for wars. In those days statistics was defined as “The science of kings, political and science of statecraft” 1. A.L. Bowley defined statistics as “Statistics is the science of counting” This definition places the entries stress on counting only. A common man also thinks as if statistics is nothing but counting. This used to be the situation but very long time ago. Statistics today is not mere counting of people, counting of animals, counting of trees and counting of fighting force. It has now grown to a rich methods of data analysis and interpretation. 2. A.L. Bowley has also defined as “Science of averages” This definition is very simple but it covers only some area of statistics. Average is very simple important in statistics...
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...these banks may face such as credit risk, liquidity risk, capital risk and operational risk. Furthermore, this report will also compare the performance and risk exposures between the two banks over the past 5 years. Westpac’s Bank Performance Analysis ROE Figure 1 - ROE 25.00% 21.98% 20.00% ROE 15.00% 10.00% 5.00% 0.00% 2003 2004 15.65% 17.02% 17.97% ROE 20.11% nt 2005 2006 2007 Th ink sw Figure 1 summarizes Westpac’s Return on Equity (ROE) from 2003 through to 2007, which is one of the key determinants of profitability. Generally, one can observe an upward trend in value throughout the past 5 years, starting at 15.65% in 2003 and finishing at 21.98% in 2007. Furthermore, ROE has increased by a total of 6.33% over the last 5 years, averaging 1.5825% per year. From a shareholder’s perspective, it can be viewed that Westpac has performed consistently well and has been more profitable throughout the specified period. In order to further analyze Westpac’s increasing trend in terms of its ROE, it is essential to conduct a Du Pont analysis that decomposes ROE into specific sub-sections. ap Do cu me Year 1 FINS3630 Group Project: Bank Performance and Risk Exposure Evaluation ROA Figure 2 - ROA (as well as AU and ER) 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 8.44% 7.47% 6.60% 5.21% 6.83% 5.36% 5.82% 6.52% , ROA, AU, ER 7.85% 6.29% ROA AU ER 1.04% 2003 1.09% 2004 1.17% 2005 Year...
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...Cabot/Koppers Superfund Remediation Site Overview and Investigation Site history and background: The Cabot Carbon-Koppers Superfund location is a past industrial place in Gainesville, FL. It legitimately stopped its processing and wood-treating actions in 2010. The site initially opened in 1912 and the approximately 90 acre site was utilized as a wood-treating facility for about 90 years. In fact, wood-treating process initiated with the usage of creosote in 1916 that basically was phased out of use in 1992. Throughout the 1960’s, two extra chemical treatments were also used which comprised chromated copper arsenate and pentachlorophenol. Throughout the functioning period, the chemical wastes were discharged and trickled onto the soil during processing as well of disposed of in unlined lagoons on Cabot/Koppers location. These particular wastewater lagoons have been roofed, and graded; although, for several years, they performed as major source zones for contamination to the top soil, surficial aquifer, subsurface soil matrix, as well as the Upper and Lower Hawthorne clay layers into that contaminants have entered. The Hawthorne Clay layers have also proceeded as a comparative barrier to the Upper Transmissive Region of the Floridian Aquifer, where there is also some indication of trace constituents of concern. The facility was proposed as a National Priorities List (NPL) in August of 1983. Ultimately, it was added to the list in September of 1984, therefore formally making...
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...and amount of words contained in the puzzles. The primary hypothesis of this experiment would be that, a higher degree of superstition will lessen the development of learned helplessness, which will be achieved as an increasing degree of superstition will allow for an increase in amount of anagrams solved. Explain the difference between an experimental and a quasi-experimental design. Which of these terms would best describe Experiment 1, and why? The difference between an experimental and a quasi-experimental design is random allocation. In an experimental design the participants can be randomly allocated to any condition or situation. Whereas, in a quasi-experimental design the option of random allocation is absent, which is due to the fact that the independent variable is a fixed quality of the participant. Therefore, Experiment 1 is a quasi-experiment, because the independent variable, the degree of superstition, is a quality of the participant and hence they cannot be randomly allocated to different conditions or situations (low or high believers). Describe how the ‘anagrams solved’ score (depicted in...
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...Marquette University e-Publications@Marquette Master's Theses (2009 -) Dissertations, Theses, and Professional Projects Design and Implementation of an Enterprise Data Warehouse Edward M. Leonard Marquette University Recommended Citation Leonard, Edward M., "Design and Implementation of an Enterprise Data Warehouse" (2011). Master's Theses (2009 -). Paper 119. http://epublications.marquette.edu/theses_open/119 DESIGN AND IMPLEMENTATION OF AN ENTERPRISE DATA WAREHOUSE By Edward M. Leonard, B.S. A Thesis submitted to the Faculty of the Graduate School, Marquette University, in Partial Fulfillment of the Requirements for the Degree of Master of Science Milwaukee, Wisconsin December 2011 ABSTRACT DESIGN AND IMPLEMTATION OF AN ENTERPRISE DATA WAREHOUSE Edward M. Leonard, B.S. Marquette University, 2011 The reporting and sharing of information has been synonymous with databases as long as there have been systems to host them. Now more than ever, users expect the sharing of information in an immediate, efficient, and secure manner. However, due to the sheer number of databases within the enterprise, getting the data in an effective fashion requires a coordinated effort between the existing systems. There is a very real need today to have a single location for the storage and sharing of data that users can easily utilize to make improved business decisions, rather than trying to traverse the multiple databases that exist today and can do so by using...
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...Renewable energy has always been an issue in the world, when people are starting to realize the consequences of producing energy through the usage of fossil fuels such as pollution and global warming. In light of the situation, it is observed that there is a need to help shape a better world, a greener future so that our ancestors will not be living in a world that is full of pollution. In this report we proudly present our offshore wind farm – Windsea Array. We will first introduce the overview of the entire renewable energy industry, such that people all over the world are gaining stronger attention to the importance of developing renewable energy, due to the fact that our fossil fuels will be running out soon. Then we will narrow down our view specifically to the UK where our wind farm will be built, highlighting the fact that the UK has been the largest offshore wind farm producer since 2008. Next we will give an introduction to the location of our wind farm West of Isle of Wight, addressing factors which influence our decision including the wind speed, distance from shore and cost. Then the construction phases will be highlighted to keep our investors informed when and how the wind farm is...
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