...risk-free asset for a two-month period as it forecasts bad news in the economy. It has decided to do this using a two-month futures contract on the NASDAQ 100, which is priced at $148472, per contract. Each contract consists of 100 times the index. The risk-free rate is 4.65% (no compounding). Describe the strategy to synthetically convert the position to the risk-free asset for 2 months. N = -50MM*(1.0465)^(1/6)/(148472) = -339 contracts 2. A hedge fund holds $50 million of large-cap domestic equity with a beta of 1.5 with respect to the S&P 500 index. It would like to move from large-cap stocks to small-cap stocks for the next three months because it forecasts that small-cap stocks will have a positive alpha over the next three months. It also forecasts that the market will do well over the next month and targets a beta of 3 with respect to the S&P 500 index. Develop a strategy that can achieve both these goals (i.e capture alpha with respect to small-cap stocks and achieve a beta of 3) simultaneously You can use the following details for the above problem: The S&P 500 index is currently trading at 500. A two month futures contract on 100 units of the S&P500 index has a price of $50502. The Small Cap index is currently trading at 1000 and has a beta of 2 with respect to the S&P 500 index. A three month futures contract on 100 units of the Small Cap index has a price of $101005. Assume that neither index will pay dividends over the next three months. Futures on S&P500 to Sell...
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...Markit PMI, or the Purchasing Managers’ Index, tracks business conditions over thirty counties, becoming one of the most closely watched economic indicators in the world. By analyzing variables such as output, net orders, unemployment, and prices across key sectors, this index provides information regarding the private sector economy. Ultimately, economic analysts, business decision makers, forecasters, banks, and policy makers, often use PMI to understand the business conditions of a particular economy. The Institute for Supply Management (ISM), is the non-profit group responsible for updating and releasing the PMI. As a monthly ISM Report on Business, information is released based on five different “sub-indicators.” These five indicators include the production level, new orders from customers, supplier deliveries, inventories, and employment level. In order to establish the data, the index of the sub-indicators are established by surveying more than 400 purchasing managers worldwide. The purpose of the PMI is to offer reliable fact-based information on a monthly basis. Unlike other indexes, the PMI is produces at a much faster rate, and uses the same methodology as international comparisons. Likewise, PMI is used readily due to its numerous conveniences. In fact, one of PMI’s advantages is that the information is released on a fixed time cycle, the first day following the survey month. It is also found that the Purchasing Manager’s Index is an excellent predictor, especially...
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...Index Introduction Identification of best practices Types of industries Linkage to your organization’s practices Recommendations for your organization to improve on References Introduction The main focus of the common main markets in around the entire world work and efforts regarding customer satisfaction should be on the collection of best practices and the preparation of guidelines for questionnaires to measure customer satisfaction. Customer satisfaction has therefore become the key operational goal for many organizations. They have invested heavily in improving performance in areas that make a strong contribution to customer satisfaction, such as quality and customer service. The customer satisfaction index measures the quality of the goods and services as experienced by the customers that use them. An individual companies’ CSI represents its served markets and its customers’ overall evaluation of total purchase and user experience. Similarly, an industry CSI represents the industry’s customers’ overall evaluation of its market. A sector CSI is an overall evaluation of that sector, and the national CSI gauges the national total consumption experience Customer satisfaction Index (CSI) represents a new type of customer-based measurement system for evaluating and enhancing the performance of companies, industries, economic sectors and national economics. It is designed to be representative of the economy as a whole and covers many companies over...
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...advance food safety and quality through consumer programs, employee relations, educational activities, adherence to standards, and support of the goals and objectives of the IAFP.[3] This announcement was declared on the 15th of May. When you look at the graph you can see the direct effect on the stock that day. On the 15th of May 2012 the stock performance holed up against the opposite direction of both market indexes Nasdaq and New York Stock Exchange. This up direction performance is a reaction of the positive news that was released to the investors. Nonetheless, the up rising performance for both KR and COST did not hold for more than a day and got dragged down by the market index. On the other hand Costco did not have any releases that day and its performance was still going upwards against the index. This upward performance of COST could be still from the previous release on the first update paper. My personal thought that was rooming in to my mind is wether the Facebook IPO has an affect on investors or the stock holders decision to sell and invest in the FB stock, move out to a new industry. The volume trade in...
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...Biometrics Presented by Ratna Sudha.R CONTENTS 1. Introduction 2. Security and authentication 3. Methods of verification a. Psychological verification i. Finger Print. ii. Hand Print. iii. Face Measurement. iv. Retinal Scanning. v. DNA Analysis. b. Behavioral verification i. Typing. ii. Signature. iii. Voice. 4. Identification. 5. Verification. 6. Advantages 7. Limitations 8. Conclusion. 9. References Introduction Biometrics is an advanced technology for superb security and authentication .The very term "biometric” it represent that "bio" means related to the biological study and "metric " means something, which is related to measurement. In network environment security is a crucial factor. Provide security to pages in the network is to difficulty. Password is not a good measurement for security. Good security mechanism is necessary on the Internet. Security in different levels applies to various documents. Security is depends how security assign to documents. Security depends on following categories. 1. Confidential 2. Secret 3. Non-secret 4. Public Confidential pages over the network provide full security...
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...MKTG430-F1WW (F14) CLV By: Lee Irorere Prof. Eric Hutchinson October 27, 2014 Organization: Sneakers on Fire Aaron115 Nicholas 95 Brandon 130 Orlando 125 Christopher 135 Pete 115 Devin 75 Quincy 130 Eric 110 Ryan 90 Fredrick 140 Shawn 65 Geoffrey 95 Tristan 20 Howard 50 Ugo 90 Ike 110 Vick 130 Jordan 140 William 95 Kevin 120 Xavier 100 Leonard 90 Yahshua 85 Michael 35 Zackary 115 The data that I have above is the concept of how CLV works for our company. The values that are presented represent not dollars but an index. Here is how the index works: Xavier has an average value customer score of 100. Howard on the other hand has a value score which is 50. The customer CLV becomes more valuable when your CLV value score is higher. For this organization we target the CLV customers that are in the 80s, 90s, and 100s. The customers with the highest scores are our most valuable customers and they are in the group I call the “loyal customers”. These are customers I see on a regular basis and make purchases regularly and they come in around 5-10 times a year. The average CLV for the “loyal customers” is 10 visits for 5 years which equals 50. The customers spend on average $80 per visit. We make 15 % profit on the $80. 15% of $80 is $12. Our company makes an average of $12 of profit on every visit. The average frequency per customer is 1.1 times. The average CLV of a loyal customer would be 1.1 x $12 = $13.20. Lastly $13.20 x 50 visits per 5 years...
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...now its time for some treasure hunting. I had to do some sql BOL searching as it was not clear to me how/where I could find such stats. Finally came across sys.db_dm_index_physical_stats function which needs several arguments and based on it it will return details about an object's fragmentation. Lets look at this function first. sys.dm_db_index_physical_stats ( DB_ID, OBJECT_ID, INDEX_ID, PARTITION_NO, MODE); Here db_id, and object_id can take [ null | 0 | default ] as a value and all mean same. To narrow down the results, you need to supply actual value. Index_id could be [ null | -1 | default ], and all mean same, alternatively you can provide 0 if object is a heap, or actual id of an index if object is an index. Partition_no is the partition id of index or heap. Alternatively it can be one of [ null | 0 | default ] as a value and all mean same. Mode is a scan level used to gather the information. It can be any of [ default | null | limited | sampled | detailed ], where default (null ) is limited. So to begin with I took one of our biggest table and made the query as follows: select * from sys.dm_db_index_physical_stats(DB_ID(),OBJECT_ID('dbo.Survey'),1,0,'DETAILED'); avg_fragmentation_in_percent fragment_count page_count 98.2717326087911 203005 205,003 As you can see, above results make anybody worry. It seems like either the job is not in place / is disabled or simply not working, I tried to do initial defrag: alter table...
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...rather bookmark and rely on it to help him resume reading. It’s a kind of simple index, isn’t it? This article focuses on how MS SQL Server uses indexes to read and write data. Data is arranged by SQL Server in the form of extents and pages. Each extent is of size 64 KB, having 8 pages of 8KB sizes. An extent may have data from multiple or same table, but each page holds data from a single table only. Logically, data is stored in record sets in the table. We have fields (columns) identifying the type of data contained in each of the record sets. A table is nothing but a collection of record sets; by default, rows are stored in the form of heaps unless a clustered index has been defined on the table, in which case, record sets are sorted and stored on the clustered index. The heaps structure is a simple arrangement where the inserted record is stored in the next available space on the table page. Heaps seem a great option when the motive is simply storing data, but when data retrieval steps in, this option back fires. An index acts as a fire fighter in this scenario. Indexes are arranged in the form of a B-Tree where the leaf node holds the data or a pointer to the data. Since the stored data is in a sorted order, indexes precisely know which record is sitting where. Hence an index optimizes and enhances the data retrieval immensely. But everything comes at a cost; the price we pay for having an index on the table is, each time there is an...
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...The Science of Customer Satisfaction The American Customer Satisfaction Index uses customer interviews as input to a multi-equation econometric model developed at the University of Michigan's Ross School of Business. The ACSI model is a cause-and-effect model with indices for drivers of satisfaction on the left side (customer expectations, perceived quality, and perceived value), satisfaction (ACSI) in the center, and outcomes of satisfaction on the right side (customer complaints and customer loyalty, including customer retention and price tolerance). The indexes (shown in the diagram below) are multivariable components measured by several questions that are weighted within the model. The questions assess customer evaluations of the determinants of each index. Indexes are reported on a 0 to 100 scale. The survey and modeling methodology quantifies the strength of the effect of the index on the left to the one to which the arrow points on the right. These arrows represent "impacts." The ACSI model is self-weighting to maximize the explanation of customer satisfaction (ACSI) on customer loyalty. Looking at the indexes and impacts, users can determine which drivers of satisfaction, if improved, would have the most effect on customer loyalty. [pic] 1 Customer Satisfaction (ACSI) The customer satisfaction (ACSI) index score is calculated as a weighted average of three survey questions that measure different facets of satisfaction with a product or service. ACSI researchers...
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... | |Chi-square / degree of freedom ratio χ2/ df 10.40 2 to 5 | |Root mean square error of approximation RMSEA .11 .90 | |Incremental fit measures | |Adjusted good-of-fit index AGFI .74 >.90 | |Turker-Lewis index TLI .82 >.90 | |Normed fit index NFI .84 >.90 | |Comparative fit index CFI .86 >.95 | |Parsimonious fit measures | |Parsimonious normed fit index PNFI .68 >.50 |...
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...1. The American Customer Satisfaction Index (www.theacsi.org) The American Customer Satisfaction Index (ACSI) is an economic indicator based on modeling of customer evaluations of the quality of goods and services purchased in the United States and produced by both domestic and foreign firms with substantial U.S. market shares. ASCI interviews more than 80,000 Americans every year about the satisfaction from the products and services that they have consumed. It uses that in a model developed by University of Michigan to measure customer satisfaction. So, the methodology uses customer interviews and econometric modeling. Over the years, ACSI have been able to identify the industries and sectors that have been performing well, and the ones that are not. ACSI provides customer satisfaction for a company, which correlates with the financial performance and the stock price of the company. Moreover, as consumer spending account for 70% of GDP, it also correlates with GDP growth changes. Manufacturing good industries tend to score higher, as they require lower level of service. Companies that tend to improve quality fair better on the index than companies that tend to reduce price. It also provides the overall industrial satisfaction index, which is helpful especially in case of acquisitions. Strengths: Companies can use ACSI as a tool to optimize their customer satisfaction to drive customer loyalty. It benefits investors, who would like to know a relation between the company’s...
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...Forecasting with Indices Forecasting is a tool that a company can use to predict trends or patterns based on the data available from previous years, quarters or periods. Forecasting can assist a company with a wealth of information, such as where cuts need to be made, where increases need to be made. Forecasting can even aid a company with what product to carry or discontinue and when would be a good time for a sale. Calculating Averages Taking the monthly sales for the last four years of Honda’s sales, the author entered this information into Excel, and formulated this chart: | Year | Year | Year | Year | average by month | Month | 1 | 2 | 3 | 4 | monthly index | 1 | 98,511 | 71,031 | 67,479 | 76,269 | 78,323 | 2 | 115,397 | 71,575 | 80,671 | 98,059 | 91,426 | 3 | 138,734 | 88,379 | 108,262 | 133,650 | 117,256 | 4 | 135,180 | 101,129 | 113,697 | 124,799 | 118,701 | 5 | 167,997 | 98,344 | 117,173 | 90,773 | 118,572 | 6 | 142,539 | 100,420 | 106,627 | 83,892 | 108,370 | 7 | 138,744 | 114,690 | 112,437 | 80,502 | 111,593 | 8 | 146,855 | 161,439 | 108,729 | 82,321 | 124,836 | 9 | 96,626 | 77,229 | 97,361 | 89,532 | 90,187 | 10 | 85,864 | 85,502 | 98,811 | 98,333 | 92,128 | 11 | 76,233...
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...performance Environmental performance can be measured thanks to a Key performance index (KPI) which consists in a score. This score shows the performance of all the operations made by the company. But there are some difficulties such as the company, the measure, the use of an index, the metrics program and the data. 1. Depending on the company Each company depending on its organization, operations and environmental impact should find a specific performance index. Many indexes can be founded but only one will fit to a company and maybe not to the other ones. For instance, a company that is producing B to C products will focus on packaging material and a company. Indeed it is very complicated to compare all of them especially if the companies are different 2. Two time of measures There are two types of measure: end of process measure known as lagging indicator and in-process measures known as leading indicator. But both of them have weaknesses. Lagging information are not useful because they reflect situation but action can only be taken after the fact which includes costs. Leading information are difficult to quantify and the results might not be send to the concerned person. 3. Difficulties for an index An index is difficult to develop and interpret within a company and it is made by subjective judgment which can have a bad effect on the company’s result. As the index is using lagging indicator, it will be difficult for a company to take good decision...
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...Projects The best way to showcase how we work is through examples. Here are a few of the projects we’ve worked on in the last year. Search As you can read extensively in our previous blog post, we’ve made some significant improvements to our Search product and its infrastructure over the last year, executed by just a handful of engineers. This was only possible because, when we were faced with the challenge of improving search, we were able to address it with a holistic perspective starting from the changes we needed to make on how we collected the data, our indexing infrastructure, and integrating all that efficiently with our ranking algorithms and UI. Explore A year and a half or so ago, the Explore tab would show only popular photos from our community, regardless of your preferences or connections. This experience wasn’t the best and we saw a lot of potential to increase the value and the engagement in that surface. Once more, we looked at the problem from a high level and broke it down into a series of long-term improvements to the product, being careful to make sure each step had some immediate gains as well so we didn’t have an all-or-nothing type of big deliverable. We personalized the photos people see based on their connections, created a surface to show account recommendations, and recently introduced trending places and hashtags. Finally, now that we have all our content indexed in our search infrastructure, we can use it as the source for photos explore...
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...Excessive PAGEIOLATCH_EX waits occur when data is transferred from disk to memory for update operations and these transfers take time to complete. PAGEIOLATCH_SH Occurs when a task is waiting for a latch for a buffer that is in an I/O request. The latch request is in Shared mode. Long waits of this kind indicate a problem with the disk subsystem that is correlated to PAGEIOLATCH_X, Latches are short term light weight synchronization objects. Latches are not held for the duration of a transaction. Typical latching operations during row transfers to memory, controlling modifications to row offset table, and so on. Therefore, the duration of latches is typically sensitive to available memory. If this is significant in percentage, it typically indicates cache contention. PAGEIOLATCH_DT Occurs when a task is waiting on a latch for a buffer that is in an I/O request. The latch request is in Destroy mode. Long waits may indicate problems with the disk subsystem. PAGEIOLATCH_EX Occurs when a task is waiting on a latch for a buffer that is in an I/O request. The latch request is in Exclusive mode. Long waits may indicate problems with the disk subsystem. PAGEIOLATCH_KP Occurs when a task is waiting on a latch for a buffer that is in an I/O request. The latch request is in Keep mode. Long waits may indicate problems with the disk subsystem. PAGEIOLATCH_SH Occurs when a task is waiting on a latch for a buffer that is in an I/O request. The latch request is in Shared mode. Long waits...
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