Book Report On The Novel Xvi - 916 Words

Book XVI: Telemachus comes to the house of Eumaeus, where the servant greets him warmly. In accordance with Athene’s directions, Telemachus asks Eumaeus to go and tell Penelope that her son is home. Once Eumaeus leaves, Athene appears outside and calls Odysseus out. She turns him back into his normal form, and he goes back into the house. He tells Telemachus who he is. Telemachus, though doubtful at first, eventually accepts that it is Odysseus, his father. The two devise a plan for taking revenge on the suitors. As Eumaeus returns, Athene appears again and turns Odysseus back into an old man in preparation for the plan. Book XVII: Acting according to their plan, Odysseus asks for Eumaeus to take him to the house of Odysseus so he can beg, and Telemachus orders the swineherd to do it. Before the two leave, however, Telemachus himself returns to his mother. He goes down to the gathering place, where Theoclymenus is, and she soon joins them. Telemachus tells her about all that happened on his voyage. Later, Odysseus and Eumaeus come to the house of the former. Eumaeus enters first, and Odysseus soon comes inside. Athene instructs Odysseus to beg for food from each of the suitors to test their character. Though some of the suitors give him food, Antonius harms him. Telemachus is angry, but he listens to his father’s earlier words and does not do anything. Penelope then asks Eumaeus to bring the beggar to her, so she can question him and see if he knows anything about theShow MoreRelatedEssay on media and its influence on the public1591 Words   |  7 PagesStates; on one side of the dispute are the beliefs that the media is too opinionated. On the other side are the beliefs that the media is just a simple informer that just reports the facts. The main issue for both of these beliefs is: does the media affect opinions on the issues from opinionated reports, or does it just report the facts that public may already know? If one could answer this question then they would know if the media was responsible or not for writing history. nbsp;nbsp;nbsp;nbsp;nbsp;TheRead MoreThe Romantic Period and the Victorian Age in Great Britain Essays1193 Words   |  5 Pagescompare a couple of, in my opinion, most important aspects like: political background, daily life and work conditions, inventions, women rights, and literature of these periods. The beginning of the Romantic Period was very dramatic. The King Louis XVI and his wife were executed; revolutionary France declared war on England. The final defeat of Napoleon at Waterloo in 1815 proved to be the triumph. In England this was a period of harsh, repressive measures. Public meetings were prohibited, HabeasRead MoreSummary Of The Iconoclast s Black No More 1718 Words   |  7 Pagesat African Americans who struggled under the load of racism, Oscar Renal Williams wrote in Portrait of a Black Conservative (3). In Racing to the Right, Schuyler is quoted as saying that he knew he was a Negro, but it was not an impediment to him (xvi). In Schuyler’s family, everyone of working age obtained employment, being housekeepers, cooks or â€Å"laborers.† As a boy, Schuyler delivered papers (Williams, 5). Those practices, along with being taught by his mother to read at an early age, in all likelihoodRead MoreOdysseus: A Hero Essay1074 Words   |  5 Pagesover. Bu t as the story progresses, the son of Laertes changes his actions after seeing his plans fail. Before thinking things out, Odysseus sends his men out to explore unknown lands: But those who ate this honeyed plant, the Lotus, never cared to report or return (IX, 101-102). Here, he sends out his men before really thinking of what mysterious people and places were out there. Negative outcomes never cross his mind when he acted. But after almost losing two of his men, he realizes that mind shouldRead More French Revolution Inspired Les Miserables2833 Words   |  11 Pagesmisery and pain that leads good people into doing bad things. The French Revolution was a major turning point in French history. It motivated and influenced Victor Hugo to write Les Miserables as a historical romantic novel, which would later triumphantly become one of the greatest novels in the 19th Century (Brombert 92). The French Revolution was ignited by the political and social contention between the Monarchy a nd the National Assembly. Chaos was the result of the battle, and reformation was neededRead More Love, Betrayal, Hubris, and Relationships in Cyrano de Bergerac1902 Words   |  8 Pagesmust not be forgotten that, in other ways, both characters are strikingly similar. Based on Cyrano de Bergerac, and putting aside the real Cyrano, Rostand combined traditional romanticism with a touch of his own Rostandism. Cyrano de Bergerac, the novel, is set in the 1600s (Goldstein 485), and it vividly tells the story of Cyrano, a successful swordsman, poet, philosopher, and playwright -- all rolled up into one. His only flaw is his long, unattractive nose, a topic to which Cyrano is very sensitiveRead More Overcrowding and Urban Planning in Victorian London Essay2512 Words   |  11 Pagestransportation. They believed alternatives to solving these issues were to build streets, tramways, railroads, and cheap housing. The city planners believed that the new streets would prevent crime and quell the spread of disease. H. J. Dyos writes in his book, Exploring the Urban Past: Essays in urban history, of the Select Committee of 1838: other public benefits might in some cases be derived simultaneously with that principal object,(1) in particular the partial clearance of the Rookery of StRead MoreA Short History of Nearly Everything6112 Words   |  25 PagesA Short History of Nearly Everything is a popular science book by American author Bill Bryson that explains some areas of science, using a style of language which aims to be more accessible to the general public than many other books dedicated to the subject. It was one of the bestselling popular science books of 2005 in the UK, selling over 300,000 copies.[1] instead describing general sciences such as chemistry, paleontology, astronomy, and particle physics. In it, he explores time from the BigRead MoreA Short History of Nearly Everything6112 Words   |  25 PagesA Short History of Nearly Everything is a popular science book by American author Bill Bryson that explains some areas of science, using a style of language which aims to be more accessible to the general public than many other books dedicated to the subject. It was one of the bestselling popular science books of 2005 in the UK, selling over 300,000 copies.[1] instead describing general sciences such as chemistry, paleontology, astronomy, and particle physics. In it, he explores time from the

Global Value Chain Management - Free Essay Example

Sample details Pages: 4 Words: 1121 Downloads: 8 Date added: 2019/10/10 Did you like this example? Introduction Mikael Thinghuus had plans of constructing a shoe factory in china known as ECCO. He later made a decision that the factory would be constructed in January 2005 and the first shoe would leave the factory in march 2005.ECCO had tanneries in   Netherland, Indonesia and Thailand which enabled the company to control leather processing and ensure the quality of the leather is utilized. The most wanted brand within innovation and comfort wear is ECCO’s vision and can only be attained by researching new paths, product development, product technology and investing in employees. ECCO is known because of its quality shoes and not fashion brand. The company sold casual and outdoor shoes, ECCO aimed at creating new markets, and their sales increased from year to year. Don’t waste time! Our writers will create an original "Global Value Chain Management" essay for you Create order ECCO’s productivity stagnated and operating margins declined between 1999 and 2003 that lead to increase of debts as the company could not meet their operation expenses. The company had to streamline logistics, monitor the market and focus on production of more modern shoes with an aim of increasing their revenue. ECCO needed employees with international mindsets and adaptability skills to enable them to operate on a global scale. The company decided to invest on career development, vocational training, developmental conversations and expatriation of its employees. The company leaders came from within the company, as they knew the company’s culture inside out. ECCO transformed rawhides to shoes and it was among the largest companies that produced leather products. It also supplied leather to auto and furniture companies. ECCO produced 80% of the shoes unlike its competitors like Nike who outsourced all their products. Full- scale, ramp up, benchmarking, laboratory production and prototype were ECCO’s strategic roles. Demand, quality, high volume production and operational reliability were upheld by the full-scale production. Benchmarking aimed at improving opportunities by gaining more knowledge. Ramp up encouraged the use of new technology in production of products to meet the demand and supply. Full scale took place in the tanneries in Indonesia and Thailand while laboratory, ramp up and prototype production took place in Netherlands. Product development took place in Denmark. Production technology implemented by ECCO lead to production of high quality products. Competition was the major challenge that ECCO faced. ECCO is supposed to implement one of the following to outdo the competition and increase revenue: new distribution program or new marketing or new production plant. Given the profits and probabilities of the three projects are accurate the projects have to be considered according to their priorities. Decision making under risk is the best choice as we are not sure about the risks that the projects will face. The decision tree approach is the best method to determine which the best project is as the following criteria can be used to place the projects in order. Financial, technical, risk-related, resource related, experience and contractual conditions criteria. Where financial criteria will analyze the cost of capital the expected return and if a profit is made. Technical criteria will analyze whether a project considers technology so that the production of products is fast and efficient and if quality products are produced. Risk related analyses the projects in terms of the available risks and their returns where risky projects that give low returns should not be considered. Projects with high returns should always be considered under these crit eria. Resource related analyses if the resources required for a project are readily available or not and whether other competitors produce the same product and if the expected returns of the project after selling, the product will be higher. The experience criteria comes in when an investor had first tested the project before and it brought up high returns hence it can easily be implemented. Contractual conditions considers the terms and conditions available for the projects if the products are being outsourced and if it will favor the operations of the project or it will be expensive (Frame, 2003). However, the best criteria here is the financial criteria of the decision theory as it will consider the profits and the probability so that one can easily predict the expected profits of the project and the type of risks expected. After the expected profits have been determined, the cost of capital can be subtracted from it so that one can be able to know what amount of loss or profit can be made by the different projects. The cost of capital will determine whether a projects are worth investing in or not because the amount of profit of loss will be known after subtracting the cost of capital because cost of capital is an expense. The goals and priorities of each project must be analyzed before implementing the projects, the risks related to the different projects must also be considered and the cost of capital of the projects must be analyzed to know the most affordable projects. The expected return of each project must also be calculated and the profit or loss be determined. A pro ject with high profits is the best project to be considered. Factors that one should prior consider before implementing a project is the strength, weakness, opportunities and threats of the project. One should know their customers are and what their wants are to satisfy them. One should also know whether the product of the project is well known or some marketing has to be done. The competitors of the project should also be known what they offer and what they do not offer. One should also know whether under a certain project some product and services can be innovated and implemented to increase the revenue. The amount of taxes needed for each project should also be known. The technology that best fits each project should be implemented to improve effectiveness, efficiency and accuracy. As per the finance criteria in the decision tree approach, the cost of capital has to be subtracted because it is an expense. Alternative investment cost and tax consideration to reduce the cost of capital expenses. The type of risks to be considered are foreign investment risk, market risk, liquidity risk, inflation risk, credit risk and concentration risk   (Baker Filbeck,2015). These risks affect the profit rates of an investment. In addition, the technology, competitors, quality of product and the availability of the product affects the amount of revenue, as it will lead to fluctuation of the demand and supply level. New marketing is the best project that ECCO can imply, as it is affordable and its profit is higher than the rest of the projects. New marketing will attract new customers, the amount of revenue will increase, and ECCO would have an ability to venture in to other opportunities in the future. This will support the long-term viability of ECCO.

Gender Discrimination At The Workplace - 962 Words

Gender Discrimination in the Workplace Santisha Fleming Human Resource Management Dr.Juluis Demps –Management 360 Jacksonville University April, 1, 2015 American women can vote, hold office, and they can work in a public work environment. They are considered have an equal opportunity when compared to men. What is the true definition of equal employment opportunity? Does this mean that women and men are offered the same opportunities in the workplace? As well treated equally in regards of the opportunities of advancement and pay .Just because a woman can hold the same position does that mean that they will be offered the same amount of respect and given the same pay as a man. Nobody should feel objectified or discriminated upon for any reason. There is to believe to be a gender gap in the workplace environment .There has been several acts and laws made to try to create an equally employment environment for both men and women. Yet, the problem still occurs. Women are among the most discriminated groups in today’s world .Some companies try to implement solutions in regards to fix the problem, but other companies s imply ignore the problem at hand. Gender discrimination in the workplace can be referred to as a â€Å"glass ceiling† in organizations in regards to a woman .Glass ceiling began as a discrimination against women in the work force. â€Å"Glass ceiling† has several different kinds of discrimination against women workers including differences in pay for work, alsoShow MoreRelatedGender Discrimination And The Workplace Essay1242 Words   |  5 Pagesbeen make towards gender workplace equality but gender workplace discrimination continues to be an impediment to gender equality. For the purpose of research on gender workplace discrimination, I used four journal articles. The first article, Minimizing Workplace Gender and Racial Bias, by author William T. Bielby, discusses stereotyping in the workplace. The article offers suggestions on how organizations should review their policy and procedures to minimize bias in the workplace. This articleRead MoreGender Discrimination At The Workplace1165 Words   |à ‚  5 PagesGender discrimination in the workplace is a recurring issue in businesses today. Employees are given the right by their employers to be protected from discrimination and inequality in the workplace. In just about every business setting today, men and women work together in the same fields, jobs, and projects. However, it has only been up until (relatively) recently that men and women have been in competition for the same jobs. With the predetermined assumptions of the different roles between bothRead MoreGender Discrimination in the Workplace765 Words   |  4 Pages Gender discrimination can cover a wide variety of social prejudice. Throughout much of world history, even American history women have been treated as second class citizens. In the United States women have had to fight for rights such as the right to vote, or own land. These are just a few examples of the many injustices that women have had to face. Men have held the position of leadership, and power t hroughout history when it comes to almost everything. Men would even decide to whom a womenRead MoreGender Discrimination At The Workplace866 Words   |  4 PagesGender Discrimination in the Workplace Many people associate certain occupations with a certain gender, like women with nurses and teachers, and men with lawyers and truck drivers. If those genders and occupations switched, the majority would deem it unethical. Occupations should not be linked with specific genders; whereas, they should be accessible to both genders. In certain occupations, people are treated differently because of their gender and labeled with different stereotypes. There shouldRead MoreGender Discrimination And The Workplace1356 Words   |  6 Pages2.1 Introduction For many decades now it has been said that there has been inequality in the workplace, it has been a major issue in the workplace in terms of women not being allowed to have certain jobs as well as in terms of women not being promoted within the workplace which all contributes to women being paid less than men. According to Ryan and Branscombe (2013), gender discrimination has been defined as the differential treatment members of one group receive compared to another by many socialRead MoreGender Discrimination In The Workplace1867 Words   |  8 PagesDiscrimination in the workplace, specifically gender discrimination is a significant matter, impacting women all over the world. Defined by the International Labour Organization (ILO) Convention No. 11, discrimination is ‘Any distinction, exclusion or preference made on the basis of race, colour, sex, religion, political opinion, national extraction or social origin, which has the effect of nullifying or impairing equality of op portunity or treatment in employment or occupation.’. As stated by GillianRead MoreGender Discrimination At The Workplace1749 Words   |  7 PagesMatthew Anders Prof. Bross College Writing November 14, 2014 Gender Discrimination in The Workplace In recent years, the issue of gender equality in the workplace and equal pay has been under serious debate. Although there has been significant improvement since when women were first able to work and equal opportunity laws were created, there is still some room for more improvement. The federal government has made laws over the years such as The Civil Rights act, Equal Pay Act and Family andRead MoreGender Discrimination And The Workplace2876 Words   |  12 Pageshave reached maturity, and that stereotyping and discrimination cease to exist. But it is from my own personal experience that I have found this is in fact, not the case, and that harassment in the workplace is a very real issue. Primarily, I am researching the way media portrays gender-biases in the workplace, and why they are relevant. Additionally, I am looking at which occupations might lead to higher levels of emotional stress related to gender inequality for women, and to what historical eventsRead MoreGender Dis crimination And The Workplace Essay1811 Words   |  8 PagesStereotypical gender norms have had a negative impact on what our society perceives as normal tasks for female accountants. More often than not, male accountants are given more demanding tasks in comparison to their female coworkers who are equally qualified but handed less strenuous tasks. Currently, there seems to be a gap in the ratio of women to men in positions of authority. This can be a variety of reasons, one being social norms of what is expected of women in the workforce. Women are frequentlyRead MoreGender Discrimination And The Workplace1835 Words   |  8 PagesGender Discrimination There are many things that a potential employee has to worry about when considering taking a position within a company. Things like the amount of pay they need, the benefits that will be offered to them, the values and morals of the company and whether or not those values and morals align with their own, and if they could see themselves growing within this company throughout the years because no one wants to work a dead end job for the rest of their life. However, along with

The Theory Of Health Literacy - 788 Words

Identify the article you reviewed and the theoretical framework used to explore the practice problem. The article by Weld, Padden, Ramsey, Garmon Bibb (2008) examines models used to research health literacy in relation to access and outcome. From a theoretical perspective, researchers assessed the concepts of â€Å"health communication, health disparities, health literacy, literacy, microrange theory, military health system, patient education, theoretical framework, universal access† (p. 308). To study the phenomenon of health literacy, they â€Å"present a conceptual framework adapted for use in studying health literacy in population groups with universal access to care† (p. 309). The â€Å"Health Literacy Framework (HLF)† †¦ â€Å"is an interactive model that places literacy as the foundation of health literacy† (p. 312). In this model, â€Å"Health literacy serves as the active mediator between individuals and health contexts, and this active mediation, in turn, impacts individual health outcomes and costs† (p. 312). Three elements used to determine health literacy in this model include; â€Å"culture and society, educational system, and health system† (p. 312). In addition, â€Å"the general HLF was adapted to guide the research study in the military medical center† (p. 314). A major reason for this approach was the universal access to healthcare. â€Å"The adapted approach or microrange theory is referred to as the universal access theory for health literacy skills (UAT) with military focus. WasShow MoreRelatedNursess Promotion Of Health Literacy Using Theories1706 Words   |  7 PagesPromotion of Health Literacy Using Theories Health literacy has been a problem with our patients. The most vulnerable populations are the elderly, people with low-income levels, those with limited education, non-native speakers of English, those with chronic mental and physical health conditions, minority, and immigrant populations. Nurses have a great role in helping our patients succeed in understanding their health conditions. Nurses can be of great help in promoting health literacy. Sykes, WillsRead MoreGuide To Living With An Ileostomy : Article Review910 Words   |  4 PagesCanadian adults aged between 20 to 50 years old, who require surgery for both inflamed bowel diseases such as ulcerative colitis and Crohn’s disease, or for familial adenomatous polyposis, cancer, trauma or birth defects. According to Bastable (2014) â€Å"health promotion is the most neglected aspect young adulthood stage (20-40) readiness to learn needs to be actively fostered through experiences the nurse initiates based on individua lized needs† (p.193). Bastable (2014) explains that in young adults,Read MoreThe Suicide And Suicide Prevention1534 Words   |  7 PagesAccording to the Centers for Disease Control and Prevention (2013), suicide was the tenth leading cause of death for all ages among Americans in 2013. It is the second leading cause of death among fifteen to twenty-nine year olds globally stated by World Health Organization (2015). Suicide being ranked that high on the lists of causes for deaths is astonishing because each of those deaths was preventable. Having awareness, knowledge, and the resources about suicide and suicide prevention must be utilizedRead MoreThe Effect Of Toujeo Insulin Ad On Blood Sugar And Glucose Levels Within Diabetic Patients1123 Words   |  5 Pagesadvertisement is very clear and encourages patients to want more for their health. This DTC advertising incorporates aspects like the benefits of DTC advertisments, health literacy, internal locus control and theory of reasoned approach to convey their benefits of this medication. â€Å"Direct-to-consumer pharmaceutical advertising (DTCPA) has grown rapidly during the past several decades and is now the most prominent type of health communication that the public encounters† (C.Ventola 669). This advertisementRead MoreLanguage Acquisition Ameliorates Adult Illiteracy848 Words   |  3 PagesIlliteracy Being literate in todays society demands a myriad of functional abilities, which, when absent, can have dramatic health, economic, and social consequences.  Literacy possesses various aspects, such as reading, writing, speaking, and technology. Undoubtedly, language acquisition is a precursor to developing reading, writing, speaking, and technology literacy. Children must learn basic phonemes, graphemes, and morphemes as a basis for reading application. Phonemes are sounds; graphemesRead MoreThe Impact Of Postpartum Depression In The Yellow Wallpaper1215 Words   |  5 Pagesthey treat postpartum depression in new mothers since era of when â€Å"The Yellow Wallpaper† was written. While in the era of when â€Å"The Yellow Wallpaper† a work analysis states â€Å"John’s solicitous â€Å"care† shows that he believes the prevailing scientific theories which claim that women’s innate inferiority leaves them, childlike, in a state of infantile dep endence†.(Hudock) Showing that women were treated like children and in a time where women had no rights in the community she has even more no say or suggestionsRead MoreIdentification Of Nursing Informatics Theory1273 Words   |  6 PagesIdentification of Nursing Informatics Theory Lewin s Change Management Theory The presence of change is inevitable. Healthcare organizations are challenged by changes every single day. Unlike, any other organization, the healthcare system exists to serve and care for human beings during some of the most challenging times of their lives. Nurses are challenged by changes every minute, of every day. Nurses are educated and trained to possess such an understanding of medical conditions and their impactRead MoreOne Of The First Things Children Learn In School Is How1627 Words   |  7 PagesOne of the first things children learn in school is how to read and write. These are integral literacy skills that students will build their whole lives. The question is, how do we properly teach these necessary skills to our students? As a teacher, we must understand all the learning theories to better address the literacy development of our students. Students need to have interesting, engaging, proper-leveled books to learn how to read. Writing made fun by teaching lessons such as writer’s workshopsRead MoreEssay On Smb745 Words   |  3 PagesStates. Beyond genetic predisposition and poor control of health risk factors, such as glycemic control and BP, social and demographic factors have shown to increase the risks of adverse diabetes outcomes. Health literacy (HL), identified as one non-clinical factor associated with diabetes health, is described as â€Å"the capacity to obtain, process, and understand basic health information and health services needed to make appropriate health decisions†. While there is growing evidence that HL has aRead Moreâ€Å"Writing to Learn† in a Math Classroom Essay889 Words   |  4 PagesTheory of â€Å"Write to Learn† Reading and writing are the basis of the original meaning of literacy. This definition, however, changed over time and culture. The term has expanded to include computer literacy, digital literacy, information literacy, health literacy, etc. (Vacca, Vacca, Mraz, 2011). Nevertheless, the most important change to the term literacy is expanding the use of reading and writing. Literacy is defined as understanding, thinking and practicing the use of language in different

Health Care Insurance System Free samples †Myassignmenthelp.Com

Question: What unpleasant complications does the US health insurance system cause individual consumers? Do you have of know of an actual experience of those problems that you would like to share? How could the problems have been avoided or solved faster? Answer: In the United States, health insurance system plays a significant role in providing protection against cost of medical services. But the share of consumers with health insurance has declined due to rising insurance cost. The Patient Protection and Affordable Care Act (ACA) of 2010 were intended to solve the problem, but it has not happened. The structure of insurance system creates inefficiency by reducing the assess value for consumers One major problem that I faced was that I had no health insurance and either I was at risk of having to leave proper care or incur huge medical expense. To improve the insurance system, more effective system of functioning should be identified. Real health insurance can be provided by the implementation of system that protects consumers against catastrophic medical cost and creates a genuine market for less expensive services. This approach will lead to universal coverage and will also reduce the growth of health cost that is threatening fiscal health of US.

Fundamentals Of Finance A Prospectus

Question: Requirement 1: One of the most popular forms of investing is investing in shares. Shares may be bought in Initial Public Offerings (IPOs) as an initial subscriber, through a prospectus. These shares can later be sold on a stock exchange when those shares are listed. Your task is to use the Medibank Private Limited prospectus in the course notes section of the myMIBT portal. Medibank Private Limited is making an IPO seeking to raise equity capital in Australia. Your task is to answer the following questions by referring to the prospectus listed above and by using other resources (such as the internet, the ASX website www.asx.com.au; media and finance textbooks): (1) What is a prospectus and what are the major components within a prospectus? When a prospectus is issued, whom does it need to be lodged with in Australia? (2)What are three listing requirements for listing on the Australian Securities Exchange (ASX)? In what industry group would Medibank Private Limited be classified on the ASX? (3) Does the company intend on paying a dividend? If so, when and how much? What are fully franked dividends? (4) What is the issue price per share and how much is expected to be raised from the IPO? Who will receive the proceeds from the share offer and how will the funds raised be used? (5) Distinguish between retail and institutional investors. Make use of the Medibank Private Limited retail and institutional offer to support your answer. (6) The offer to purchase shares in the Medibank Private Limited IPO is now closed. What would be the process to acquire shares in Medibank Private if you missed this offer. (7) Assuming your group bought shares in the Medibank Private IPO, do you think your decision was correct? Explain by comparing the information in the prospectus with the current market price on the ASX. Requirement 2 Your group manages investment funds and your job is to advise clients on what portfolio best suits their needs, given their characteristics. You have three different customer types: I. A young Deakin Commerce graduate (Mark) with a long and successful career ahead of him. II. A middle aged couple (Mr. and Mrs. Smith) who are high income earners. They plan to retire in 10 years time. III. An older member of the work force (John) who is hoping to retire in the next 18 months. There are 3 different portfolio packages that you offer clients: PORTFOLIO X: 40% bonds; 50% cash; 10% property. PORTFOLIO Y: 40% shares; 40% bonds; 20% property. PORTFOLIO Z: 80% shares; 15% property; 5% bonds. Your task is to answer the following questions by referring to your textbook, otherfinance books, the media, the internet etc.:(1) By using the information in TABLE ONE (page 4) calculate the expected (average)return, denoted by E(R), and the risk (standard deviation), denoted by , for each ofthe four asset classes as well as the three portfolios in Table One and include youranswers in the table. The completed table should be submitted with your assignment.Show ALL workings in the Appendix after the reference list. All finalcalculations should be correct to two decimal places (two numbers after the dotpoint) expressed as a percentage. The workings in the appendix may behand-written. (2) Describe the features and important characteristics of each of the three portfolios inTable One. Include in your answer the meaning of a portfolio and a discussion of theexpected return and risk of the three portfolios relative to the individual asset classesthat comprise the portfolios. Use the resul ts/numbers in Table One to illustrate. Youranswer should not exceed 600 word.(3) For each of the three customer types that you have, recommend the most suitableportfolio option and justify your choice. Use language here that the customers willunderstand. You should use a graph here to show the historical return performance ofeach of your portfolios to assist with your recommendation. Your answer should notexceed 600 words. Year Shares Property Bonds Cash Portfolio X Portfolio Y Portfolio Z 1994 -8.70% -5.60% -4.70% 5.30% 0.21% -6.48% -8.04% 1995 20.20% 12.70% 18.60% 8.00% 12.71% 18.06% 19.00% 1996 14.60% 14.50% 11.90% 7.60% 10.01% 13.50% 14.45% 1997 12.20% 20.30% 12.20% 5.60% 9.71% 13.82% 13.42% 1998 11.60% 18.00% 9.50% 5.10% 8.15% 12.04% 12.46% 1999 16.10% -5.00% -1.20% 5.00% 1.52% 4.96% 12.07% 2000 3.60% 17.80% 12.00% 6.20% 9.68% 9.80% 6.15% 2001 10.10% 14.60% 5.50% 5.30% 6.31% 9.16% 10.55% 2002 -8.10% 11.80% 8.80% 4.80% 7.10% 2.64% -4.27% 2003 15.90% 8.80% 3.00% 4.90% 4.53% 9.32% 14.19% 2004 27.60% 32.00% 7.00% 5.60% 8.80% 20.24% 27.23% 2005 21.10% 12.50% 5.80% 5.70% 6.42% 13.26% 19.05% 2006 25.00% 34.00% 3.10% 6.00% 7.64% 18.04% 25.26% 2007 18.00% -8.40% 3.50% 6.80% 3.96% 6.92% 13.32% 2008 -40.40% -54.00% 14.90% 7.60% 4.36% -21.00% -39.68% 2009 39.60% 7.90% 1.70% 3.50% 3.22% 18.10% 32.95% 2010 3.20% -1.10% 6.00% 4.40% 4.49% 3.46% 2.70% 2011 -10.50% -1.50% 11.40% 5.00% 6.91% 0.06% -8.06% 2012 18.80% 33.00% 7.70% 5.00% 8.88% 17.20% 20.38% 2013 20.20% 7.10% 0.70% 3.00% 2.49% 9.78% 17.26% E(R) Answer: Requirement 1 Ans(1)A prospectus is an authentic document that a company issues in order to get listed within the stock exchange. It enables to provision of the background, management and financial status for any particular company so that a decision is made if there is an investment to be made or not. It is an obvious fact that a prospectus is an official requirement so that the company should get listed on the stock exchange(Driscoll, 2010). The prospectus is needed to be lodged with Australian Securities Exchange and Australian Securities and Investment Commission. It is needed to include information that the advisers and investors are needed to make an assessment regarding the rights that are attached to the shares which is further emulated by the financial position, assets, liabilities, profit and loss and other organizational prospects. Other than this, the following are the components of a prospectus that are shown below: Overview of an investment Overview of an industry Overview of the business Financial information Major risks Key interests and benefits Offer Details Assurance Report Actuarys report Ans(2)Firstly, a company should be satisfying the minimum criteria for an admission that would include size, structure, and the number of shareholders. The admission criterion is given below: No: Of Investors or Shareholders 400 investors at a minimum level at Australian Dollars 2000 or 350 investors at a minimum level at AUS$ 2000 where 25% is to be held by the unrelated parties or 300 investors at a minimum level at AUS$2000 and 50 per cent to be held by some of the parties that is not related. Company Size Profit Test Assets Test AUS$ 1,000,000 net profit for the past 3 years plus AUS$400,000 net profit for the past 12 months or AUS$ 3,000,000 net tangible assets or AUS$ 10,000,000 market capitalization Secondly, if the companys shares are between 50 per cent and 75 per cent are held by the parties, the company should include at least 350 shareholders. When the 75 per cent of the shares are to be held by the related parties, the companies should have 400 shareholders or more.Thirdly, there is requirement of the financial reporting within the mid-year and on an annual yearly basis within Australia. Those companies that are within the companies listing category without having any revenue or profit track record are also needed to make or develop quarterly statements of cash flows.The industry for Mediabank Private Limited is Insurance. Ans(3)In accordance with the forecast exhibited in the prospectus, there has been a forecast for the dividends to be paid by the MediaBank Private Limited. They have made a statutory forecast related to the dividend payments in 2015. They intend to pay it by September 2015. The amount for the dividend is found to worth $238.8 million. This is illustrated below: As it is illustrated above, the ordinary and special dividends are found to be at $238.8 million. In accordance with the fully franked dividends, it is basically an arrangement within Australia that eradicates the dividends double taxation. The dispersion of dividends occurs with the imputations of the tax that are attached to them(Hussainey, 2011). Hence, the shareholders will be able to make a reduction in the tax paid on the dividend in accordance with the amount that is equal to the credits of the imputations of tax. Therefore, the dividend taxation has been paid partially that is paid by the company that issues the dividends. Ans(4)Currently, the commonwealth owns definitely 100 per cent of Mediabank private limited. The objective of the commonwealth when undertaking for the offer is to sell the 100 per cent shares of Mediabank private limited. But it should be confirmed that it also deserves the right to sell some of the lesser share amount within the offer. The offer would be expected to raise AUS$ 4,269 m to AUS$5508 m that is related to sale of 100 per cent of Mediabank private limited. The indicative price range is ofAUS$ 1.55 to AUS$2.00/share. More than this, not a single proceed from the offer will be attained by Mediabank Private Limited. The Australian Government has announced that the proceeds from the sale of Medibank Private will be re-invested into productivity enhancing infrastructure through the Australian Governments Asset Recycling Initiative. Ans(5)Institutional investor is an investor within Australia who is a sophisticated investor or a professional investor within the coverage of a section of 708(8) and 708(11) of the Corporations Act. Other meaning of this term would proceed within certain other jurisdictions which are also agreed by Mediabank Private and the JLMs for whom the invitations in accordance with the respect of securities can be developed without any need of registered prospectus or other document that is approved by the agency of government. In either case, provided that if such person is in the United States, they are reasonably believed to be a qualified institutional buyer (as defined in Rule 144A of the US Securities Act) or an Eligible US Fund Manager (together Institutions). On the other hand, a retail investor within Australia is the one who bids for the shares within the institutional offer via the broker through a bid that is sponsored by the Broker(Diouf, 2014). Ans(6)If the offer is closed, then the shares can be acquired through a general public offer. This offer is to be valid for the retail investors who are Australian residents. The Brokers clients can apply for the shares through the general public offer with an additional allocation to their broker firm. The minimum size of the application could have to be AUS$2000 and multiples of AUS$100 then. One can apply online by visiting www.mediabankprivateshareoffer.com.au.One can pay for shares using Direct card or BPay(ASX, 2014). There are two types of personalized paper forms. One is orange personalized application and the other is red personalized application. If that is an orange application form, then it is needed to be completed if it is requested after the pre-registration period. If the application form is red, then the paper application forms are needed to be accompanied by money order or cheques. Ans(7)It is a known fact that there are some of the associated risks with the company in accordance with the investment in any company that is listed on Australian Securities Exchange. Some of the anticipations are made which can let us know if the decision is favorable or not. They are as below: The private share price of Media Bank may fluctuate There is no prior public market for the shares Equity offerings or future debt can severely affect the shareholders incorporating through dilution General market and economic conditions may adversely affect Media Bank Private The changes in Taxation can adversely influence the returns of the shareholders The change in the standards of accounting can adversely affect the Mediabank private From the above pointers, it can be said that the decision cannot prove to be favorable if these pointers become true and realistic. Requirement 2 Ans(1) Year Shares Property Bonds Cash Portfolio X Portfolio Y Portfolio Z 1994 -8.70% -5.60% -4.70% 5.30% 0.21% -6.48% -8.04% 1995 20.20% 12.70% 18.60% 8.00% 12.71% 18.06% 19.00% 1996 14.60% 14.50% 11.90% 7.60% 10.01% 13.50% 14.45% 1997 12.20% 20.30% 12.20% 5.60% 9.71% 13.82% 13.42% 1998 11.60% 18.00% 9.50% 5.10% 8.15% 12.04% 12.46% 1999 16.10% -5.00% -1.20% 5.00% 1.52% 4.96% 12.07% 2000 3.60% 17.80% 12.00% 6.20% 9.68% 9.80% 6.15% 2001 10.10% 14.60% 5.50% 5.30% 6.31% 9.16% 10.55% 2002 -8.10% 11.80% 8.80% 4.80% 7.10% 2.64% -4.27% 2003 15.90% 8.80% 3.00% 4.90% 4.53% 9.32% 14.19% 2004 27.60% 32.00% 7.00% 5.60% 8.80% 20.24% 27.23% 2005 21.10% 12.50% 5.80% 5.70% 6.42% 13.26% 19.05% 2006 25.00% 34.00% 3.10% 6.00% 7.64% 18.04% 25.26% 2007 18.00% -8.40% 3.50% 6.80% 3.96% 6.92% 13.32% 2008 -40.40% -54.00% 14.90% 7.60% 4.36% -21.00% -39.68% 2009 39.60% 7.90% 1.70% 3.50% 3.22% 18.10% 32.95% 2010 3.20% -1.10% 6.00% 4.40% 4.49% 3.46% 2.70% 2011 -10.50% -1.50% 11.40% 5.00% 6.91% 0.06% -8.06% 2012 18.80% 33.00% 7.70% 5.00% 8.88% 17.20% 20.38% 2013 20.20% 7.10% 0.70% 3.00% 2.49% 9.78% 17.26% E(R) 10.51% 8.47% 6.87% 5.52% 42.40% 57.63% 66.80% 17.33% 19.20% 5.72% 1.27% 26.46% 19.96% 81.60% Ans(2): The anticipation of one amount being obtained on the investment that has different known or expected return rates is known as an expected return. For instance, if one invests into a stock that had a half risk of delivering a 10% profit and a half risk of having a loss of 5%, the expected return would be 2.5% (0.5 * 0.1 + 0.5 * -0.05). It is vital to note, on the other hand, that the expected return is typically based for authentic information and is not ensured. Generally, the normal return is a technique used to figure out if or not any particular investment has a positive or negative normal net result - it is not a resolute figure of profit or loss. In the stated example above the 2.5% expected return can't be acknowledged and it is simply an average. Not with standing expected return, the shareholders ought to additionally consider the likelihood of return with a specific end goal to legitimately assess risk. All things considered, one can discover examples in which certain lotteries offer a positive expected return, in spite of the low likelihood of realizing that return. The returns above calculated are an aggregate average of asset classes. However, they are also calculated separately which is illustrated below: Portfolio Bonds Cash Property Average Portfolio X 51% 64% 13% 42.37% Portfolio Y 69% 69% 35% 57.63% Portfolio Z 160% 30% 10% 66.80% For Portfolio X, the bonds have an expected return of 51%, Cash 64% and Property 13%. For Portfolio Y, the bonds have an expected return of 69%, Cash 69% and Property 35%. The Portfolio Z has a return of 160% on bonds, 30% on cash and 10% on property. Ans(3) Portfolio Bonds Cash Property Average Portfolio X 40% 50% 10% 51% 64% 13% 42.37% Portfolio Y 40% 40% 20% 69% 69% 35% 57.63% Portfolio Z 80% 15% 5% 160% 30% 10% 66.80% At 40% bonds, the return for portfolio X is 51% while at 50% cash, the portfolio X return relative to this asset is 64% while for property class of assets, the return is 13%. On an average, the return is 42.37%. In the same way, for the respective asset classes, the return is 69%, 69% and 35%. The average return is 57.63%. For Portfolio Z, the respective returns are 160%, 30% and 10% and on an average, the expected return is 66.8%. For Customer I, the portfolio Y is better because, the standard deviation is lower and hence the risk will also be lower. In the same way, for Customer II, the portfolio Z will be better because this customer is a high income earner and hence, the risk cannot matter much for this customer. While for customer III, the portfolio X is better because it has a moderate standard deviation and hence there could be few chances of the risk but the return is still favorable for this type of customer. The calculations are shown in the attached excel sheet. References ASX, 2014. Australian Securities Exchange. [Online] Available at: https://www.asx.com.au/listings/listing-IPO-on-ASX.htm. Diouf, D., 2014. Exploring Factors that Influence Social Retail Investors Decisions: Evidence from Desjardins Fund. Journal of Business Ethics, 10(1), pp.25-48. Driscoll, L., 2010. The Summary Prospectus: the most significant change to mutual fund disclosure since the Investment Company Act of 1940. Journal of Investment Compliance, 9(2), pp.26-34. Hussainey, K., 2011. Dividend policy and share price volatility: UK evidence. The Journal of Risk Finance, 12(1), pp.57-68.