...1. Assuming Mr. Jaeger chooses to harvest the grapes before the storm arrives, how much money will he make? If Mr. Jaeger chooses to harvest immediately, he will eliminate the risk, but the quality of wine will be lower than the normal. It results that the price of a bottle of wine will be $2.85, but the quantity of bottled produced will not be changed. The quantity will be 12,000 (1,000 *12=12,000) bottles of wine. Therefore, the revenue he will make will be $34,200 ($2.85*12,000=$34,200) 2. Assuming Mr. Jaeger chooses to wait to harvest the grapes, what is the probability that the grapes will end up with the botrytis mold, and how much money will he make if that occurs? There is a 40% chance that it would lead to the development of the botrytis mold, if the storm did strike. Moreover, the probability of storm would hit the Napa Valley is 50%. Therefore, the probability that the grapes will end up with the botrytis mold is 20%. The wholesale price for a botrytised Riesling will be $8 per bottle, however the quantity will be decreased by 30%, which is 84,000 (12,000*70%). The revenue will be $67,200 (84,000*8=$67,200). 3. Taking into account all of the various possibilities, what should Mr. Jaeger do? Mr. Jaeger should harvest later. Since we do not exactly know how selling thin wine will damage the winery’s reputation, we cannot figure out how much revenues will be decreased if Mr. Jaeger sells thin wine this year. Therefore, Mr. Jaeger should sell the wine in...
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...that allows the grapes to grow the botrytis mold. This wine can be sold for $8.00 per bottle. However, juice volume is reduced to 70 percent during the production. Cold and heavy rain has a 60 percent likelihood of occurring and this would result in the berries swelling by 5-10 percent, decreasing their concentration. This will result in the least desirable grape quality that can only be sold for $2.00 per bottle. Applying the Estimated Market Value (EMV) formula to calculate the potential revenue as follows Price/bottle x # of cases x # of bottles x prob x % of volume post production * Grapes with botrytis mold: $8x1000x12x40%x70% = $26,880 * Grapes without botrytis mold: $2x1000x12x60% = 14,400 If the rainstorm does not strike, Jaeger could wait until the grapes ripen more fully, which has only a 40% chance to make a good wine. The price for this is $3.50 per bottle. There is a 40% chance of the grapes becoming low acidic wine, which only can be sold for $2.50 per bottle. Now we can calculate for potential revenue if Jaeger harvests later and the storm did not strike using EMV as follows: Price/bottle x # of cases x # of bottles/case x probability * Good wine: $3.5x1000x12x40% = $16,800 * Thin wine: $3.0x1000x12x40% = $14,400 * Low acidic wine: $2.5x1000x12x20% = $6,000 Another option is to harvest the grapes before the storm comes. They can be sold for $2.85 per bottle. We can calculate for the total revenue when Jaeger harvests immediately. Wh...
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...Kendall Cavanaugh Dominique Des Lauriers Lindsay Frey Kayla Reichert Trevor Whitaker Layout and Spacing of a Vineyard When the appropriate site is picked for a vineyard, the design becomes an important factor that will affect the performance of the vineyard for its lifetime. Considerations include row spacing, vine spacing, row orientation, and row height. We explain the crucial details within the layout of a vineyard, types of harvest within a layout, a comparison of United State’s layouts and Spain’s vineyards, and specific details for our hypothetical vineyard. Row Spacing And Vine Spacing Traditional row spacing in a vineyard is 912 feet depending on the type and size of the equipment that is going to be used in the vineyard. 12 feet will easily allow a pickup truck in between rows. 68 feet is the minimum distance that an ATV can traverse rows. Machine harvested vineyards are recommended to have rows spaced no closer than 10 feet. Rows spaced together any less than 6 feet forces the farmer to do everything, such as fertilizing, spraying and weeding, by hand. This can be not only time consuming but expensive. (Hagen). In America, vines 12 feet apart is the standard row. Row spacing also affects the way the light hits the leaves on the vine. The further apart the rows are, the more sunlight hit more leaves. Rows spaced close together will create a shadow on one another for part of the day. The closer the rows are to each other, the more vines a farmer can fit on an acre...
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...whether to harvest or not, taking into consideration the possibility of rain. Rain may damage the crop but delaying the harvest would be risky too. Keeping in mind rain could be beneficial and will increase the value of the resulting wine. This decision is complicated by the fact that ripe Riesling grapes can be converted to wine in two ways, resulting in two different types of wine. Factors that should be taken into consideration Probability of rain, mold formation, acidity, sugar level, wine price, and reputation. Mr. Jaeger’s possible choices: Harvest now or later. Solution: The payoffs are calculated based on 1000 cases of wine. 1. There are two alternatives: * Waiting (W) for the storm to come. * Harvest (H) now. * If he waited, the storm may or may not hit. * If the storm hits, the mold may or may not form, which greatly affect the revenue. * If the storm hits and no mold form, the sugar level which determines the quality of the wine is uncertain. The quality of wine produced affects the company’s reputation. * If storm hits and mold do not form: Sell the grapes in bulk (B), or make the thin (light) wine and sell it (T). * The best decision: Where the expected value (EV) maximizes current returns. * The blue values represent selling the harvest in bulk (B), while the red numbers assume the thin wine will be bottles and sold for $2.00/bottle. * Selling in bulk (B) has an (EV) of $35,640. Where if harvest (H) will give...
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...Section 3: Predation (part B), Herbivory, parasitism, popn. Regulation, biocontrol, fisheries, conservation biology. PREDATION… Continued (Part B) C. Studying predator effects on prey populations in the field. 1. Manipulative experiments 2. Accidental Experiments 3. Comparative Studies- woodland caribou -Food limited -Predator limited D. Optimal Foraging theory: how do predators choose their diets? (see chapter 3) *What is the optimum strategy? = Energy maximization or time minimization Max En/T Assumptions about the predator (forager): -Eating and searching for the next food (prey) item are mutually exclusive activities. -Items are found sequentially, items are found one at a time. Energetic Value of prey: EACH PREY ITEM HAS AN ENERGENTIC VALUE (ei) Handling time: A HANDLING TIME (hi) Profitability: : e/h= profitability of each prey item (such that prey can be ranked) Rule: optimal foraging rule (prediction) – always eat the most profitable prey and eat the next most profitable prey if the gain is greater than the gain from rejecting it and searching for a more profitable prey. Predictions of Optimal Foraging Theory: The highest ranked prey type should always be eaten when encountered. 1) Predators with small handling times and long search times should be GENERALISTS. 2) Diets should be broad in pre-poor (unproductivr) environments. 3) The abundance of low ranking prey...
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...Cameron Tyler FCS 104 November 20, 2013 Wine The creation of wine dates back prior to written history, earliest known production tools found in the ancient Middle East about 6000BC. Wine has influenced royalty, religion and wars throughout the ancient world, playing an important role in each culture. Today, wine has managed to maintain its luster in society, being produced and consumed in large amounts worldwide. The production of wine has proved lucrative business for many years, and for many reasons. From grape farming to creating different varieties to pricing the bottles, there is a good amount involved in the wine production process. For the world of “winos” (people addicted to wine), there could never be enough of this sweet nectar. While the wine making process was developed about 6000BC, many improvements and innovations have taken place over the past 8000 years. Today, the production of wine is worldwide, manufacturing nearly 6.5 billion gallons per year. According to the International Wine Guild, the United States consumes 762 million gallons per year, ranking third overall in wine consumption across the world. The top three innovations in wine production include Biodynamic Viticulture, micro-oxygentation, and fuel creation from the waste. Biodynamic Viticulture involves the process of using the farm and surrounding land’s eco-system to best determine ways to get the most yields along with controlling pests. Micro-oxygentation is used to improve the...
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...Pan 104214529 Executive Summary Walsh’s Juice Company produces three products from unprocessed grape juice—bottled juice, frozen juice, concentrate, and jelly. The company purchases unprocessed grape juice from three different vineyards and produce products in four other plants. The manager needs a model to help making decisions in both logistical and production process aspects. This problem contains 24 decision variables. The company’s objective is to minimize transportation cost from each vineyard to each plant, and the processing cost for each product in each plant. By using linear programming , we can get that Walsh’s Juice Company should deliver 1,400 tons of unprocessed juice from New York vineyard to Indiana plant, 1,100 tons from Pennsylvania vineyard to Michigan plant, 500 tons from Ohio vineyard to Virginia plant, 1,400 tons from Ohio vineyard to Tennessee plant. And they should produce 1,200 tons of juice, 900 tons of concentrate, 700 tons of jelly. By doing so, they can spend the minimum cost of $10,606,000. Introduction Walsh’s Juice Company produces three products which are bottled juice, frozen juice concentrate, and jelly by using unprocessed grape juice which purchase them from New York, Pennsylvania and Ohio, then transported to four different plants in Virginia, Michigan, Tennessee, and Indiana. In a particular month unprocessed grape juice available for each vineyard is 1,400 tons(New York),1,100tons(Pennsylvania)and 1,700tons(Ohio).The...
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...Investment Attractiveness of the Chilean Wine Industry 1. Introduction Over the past 30 years saw major transformations within the Chilean wine industry, this transformation allowed many of the talented Chilean winemakers on this unique opportunity to produce world class wine with its own unique personality and character. Chile currently is one of the leading nations in the global in the wine industry, currently ranked at 8th as the world’s largest wine producer and ranked 5th as the largest wine exporter. Chile exports a massive 70% from its own wine production making Chile the world’s most globalised wine industry. Even with the enjoyed success by the nation, Chilean wines find themselves facing huge competition globally in different markets as the wines produced in Chile sells at a relatively low average price therefor directly affecting the profit levels in return. (Emeraldinsight, 2010) 2. Factor Conditions As of 2011, Chilean vineyards have been facing shortage of filed workers as most employees are migrating to construction, agriculture director Santa Rita is quoted saying “between 15% and 20% fewer workers now than two years ago” Working in vineyards is not a preferable profession to the locals anymore as they end up working eight hours more just to get the minim wage. (MecrcoPress, 2011) This means finding field workers for the vineyards will prove difficult unless the company is prepared to pay the minimum wage. 2.1 The unemployment rates in general...
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...869 285,552 120,552 0.93 0.360 0.314 $ 265,420 31,544 11,223 27,643 267,996 114,297 0.78 0.330 0.288 10.30 8.70 10.70 8.65 10.9% 11.4% 1.3:1 9.25 8.25 11.00 9.55 9.8% 11.6% 1.3:1 10 11 12 10 11 12 10 11 12 113,680 114,297 263,151 265,420 276,883 Net Sales Net Earnings from continuing operations before gains (loses) on nancial instruments and other expenses Shareholders’ Equity 1 FINANCIAL AND OPERATING HIGHLIGHTS 120,552 8,408 11,683 13,662 OveRview Andrew Peller Limited (“APL” or “the Company”) is a leading producer and marketer of quality wines in Canada. With wineries in British Columbia, Ontario and Nova Scotia, the Company markets wines produced from grapes grown in Ontario’s Niagara Peninsula, British Columbia’s Okanagan, and Similkameen Valleys, and from vineyards around the world. The Company’s award-winning premium and ultra-premium VQA brands include Peller Estates, Trius, Hillebrand, Thirty Bench, Crush, Wayne Gretzky, Sandhill, Calona Vineyards Artist Series, and Red Rooster. Complementing these premium brands are a number of popularly priced varietal wine brands including Peller Estates...
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...The Role of Resources in Strategic Management Mark Bush Management and Strategy Edward Farrell 26 October, 2012 Abstract There has been a push in recent years to make weather a stakeholder in business. It affects the way business is conducted and impacts productivity. Weather must be taken into account when making strategic plans. The various weather patterns must be looked at, placement of assets and resource management must be considered. An organization must make plans for weather related issues in order to stay competitive. The Role of Resources in Strategic Management During strategic planning, upper level management and boards of directors look to the future of their organizations. They plan for spending on new assets. They look for the best courses of action to find and procure the best inputs for the cheapest price in order to make the most profit. They look to their employees for continuity and also how to replace employees as they leave. These upper level managers need to account for weather and its affects. The key questions that need to be asked are: • What is the product I am selling? • Where is my market: • What are the inputs I need to create my product? • How will I move my product to market or to my customers? • How many employees do I need to produce my products? • What are the skill sets I need in my employees...
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...Giving specific examples critique the notion that poor environmental sustainability retard development. Define environmental stability Sustainability-is the ability to sustain something. A means of configuring civilization and human activity so that the society , its members and its economies are able to meet their needs and express their greatest potential in the present, while preserving biodiversity and natural ecosystems, planning and acting for the ability to maintain these ideals for future generations. Herman Dary 1990 one of the early pioneers of ecological sustainability had a natural capital view point and proposed that: 1. For renewable resources, the rate of harvest should not exceed the rate of regeneration (sustainable yield); 2. [For pollution] The rates of waste generation from projects should not exceed the assimilative capacity of the environment (sustainable waste disposal); and 3.For non renewable resources the depletion of the non renewable resources should require comparable development of renewable substitutes for that resource. Therefore environmental sustainability involves making decisions and taking action that are in the interests of protecting the natural world, with particular emphasis on preserving the capability of the environment to support human life www.toolkit.smallbiz.nsw.gov.au. It involves the ability to meet the needs of the present generation without compromising the needs of the future generation. It includes sustainable...
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...The Input Subsystem: Mango Commodity 1. Major Inputs Used Mango production is said to be input-intensive as inputs cost per kilogram in pesos is 4.8 and share in total, 32.9 %. The farm inputs (planting materials, chemicals, fertilizers – organic and synthetic, financing assistance and technologies) take up nearly a third of production cost; and another third of imputed costs of labor and capital account. Profit per kg is P10.00 (FAO 2013). Table _. Cost and Return Analysis per Hectare of MANGO Production, 2011P ITEM | Amount (Pesos) | CASH COSTS | | Seeds/Planting Materials | - | Fertilizer | 16,357 | Pesticides | 7,134 | Other Material Inputs | - | Hired Labor | 10,070 | Wages for Overseer | - | Land Tax | 791 | Rentals | 1,732 | Water/Electric Bills | 281 | Fuel and Oil | 1,726 | Transport of Inputs | - | Irrigation Fee | - | Interest Payment on Crop Loan | 1,133 | Food Expense | 1,168 | Repairs | 1,292 | Landlord's Share | - | Electric Bill | - | Others | - | Sub-total | 41,684 | NON-CASH COSTS | | Seeds Paid in Kind | - | Hired Labor Paid in Kind | 632 | Wages for Overseer Paid in Kind | - | Rentals Machine and Vehicle | 118 | Landlord's Share Paid in Kind | 3,037 | Harvester's Share | 610 | Lease Rental | - | Sub-total | 4,397 | IMPUTED COSTS | | Operator and Family Labor | 5,014 | Exchange Labor | - | Depreciation | 10,676 | Interest on Operating Capital | 5,370 | Rental Value of Owned...
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...VEGETABLES AND FRUITS INTRODUCTION: High intakes of fruits and vegetables are protective against many forms of cancers. Vegetarians are less likely to contract cancer of the colon than meat eaters. A vegetarian diet is typically high in fibre, low in saturated fat and includes plenty of fruit and vegetables. Dietary fibre may help to protect against all the ‘Western’ cancers such as cancers of the colon, rectum, prostate, uterus and breast. We all know that fruits, vegetables, grains, legumes and nuts are healthy. There are a number of studies that show that consuming more of these plant-based foods reduces the risk for a long list of chronic maladies (including coronary artery disease, obesity, diabetes, and many cancers). This is probable factor in increased longevity in the industrialized world. On average, we eat two fruits and vegetables and too much saturated fats of which meat and dairy are prime contributors. A predominantly vegetarian diet may have beneficial effects for kidney and nerve function in diabetics, as well as for weight loss. Eating more fruits and vegetables can slow, and perhaps reverse, age-related declines in brain function and in cognitive and motor performance at least in rats. However, low protein diets associated with vegetarians, reduce calcium absorption and have a negative impact on skeletal health. Vegetarians’ avoidance of meat, eggs and dairy products can lead to deficiencies in iron, calcium and Vitamin B12. Infants who are breast-fed...
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...INTRODUCTION Genetically modified organisms (GMOs) are a fact of modern agriculture, and are here to stay. GMOs are also a fact of public preoccupation and opinion, which politicians must takeinto account. FAO recognizes the great potential and the complications of these new technologies. We need to move carefully, with a full understanding of all the factors involved.In particular, we need to assess GMOs is terms of their impact on food security, poverty,biosafety, and the sustainability of agriculture. Will GMOs increase the amount of food in theworld, and make more food accessible to the hungry? Clearly, GMOs should be seen not inisolation as technical achievements. Hence, I will discuss not the specifics of GMOtechnology, but the context in which they are developed and deployed, and about how public opinion and government policy on GMOs are formed. The public in many countries distrusts GMOs. They are often seen in the context of globalization and of privatization and even as “antidemocratic” or “meddling with evolution”. There are as yet few perceived advantages for the public, because GMO applications to date have concentrated on reducing costs for producers without direct consumer benefits. In particular, it has been a tactical error of the industry to concentrate on pesticide-resistance as one of the earliest applications, as this has stimulated environmental concerns. The public often confuses the industry with the science. And consumers worry about risk, not about...
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...stomatal or non-stomatal factors. Stomatal limitation is more under WD plants indicating the stomatal closure and reduced concentration of internal CO2. Also, transpiration rate decreases due to the formation of smaller but more densely distributed stomata. Therefore, it can be stated that photosynthesis decreases in parallel with stomatal conductance to water vapor, transpiration rate and sub-stomatal CO2 along with the arrest of carbon assimilation (Lisar et al., 2012). However, cv. Surahi performed better with high photosynthetic rate, chlorophyll contents and water use efficiency compared to cv. Gola. Similar to our findings, Romero et al. (2004b) compared the photosynthesis rate during pre-harvest and subsequent recovery in stressed and unstressed conditions and observed that prior to harvest, the photosynthesis rate of drought-stressed almonds was less than control (unstressed) conditions, while during subsequent recovery their photosynthesis rate was same as or superior than that of control plants. Ranjbarfardooei et al. (2000) concluded that in Pistacia khinjuk and P. mutica, used as rootstock for edible pistachio (Pistacia vera) production, the increased drought stress caused a net decrease in photosynthetic rate. Romero et al. (2004b) reported that the photosynthetic capacity of drought stressed almonds varied from cultivar to cultivar in the form of partial recovery (Klein et al., 2001) to rapid recovery. The photosynthesis rate of leaves in plants depends upon the changes...
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