Saturday, January 25, 2020

Charlotte Brontes Jane Eyre: A reconsideration :: Character Analysis, Miss Temple

In Lowood, a great part of Jane's character will be based on the concepts of (in)visibility as well as on the power of the gaze. Talking about Miss Temple, Jane Eyre says that Miss Temple's "language" has: "something which chastened the pleasure of those who looked on her" (Ch. , p.69). Unlike most of Jane's visibilities, Miss Temple 's is a positive visibility that pleases the beholder's eyes. One may say this is because Jane loves this teacher and she is, more likely blinded by her love and admiration for Miss Temple. However, there is a sense of pleasantness associated with the character of Miss Temple. Such claims might be truer in the case of Jane who once goes on to say: "The refreshing meals, the brilliant fire. . . . they glowed in the bright tint of her cheek. (p. 70) After the departure of Miss Temple Jane who now "lost" her "stead" mother and till this moment has never left Lowood is "dawned" by what she calls "another discovery" (p 81): I had undergone a transforming process; that my mind had put off all it had borrowed of Miss Temple †¦. My world had for some years been in Lowood, my experience had been of its rules and systems; now I remember that the real world is wide†¦ (81) The invisibility of Miss Temple has posed an opportunity for Jane's mind eye to transgress the visible (Lowood with all what it meant to Jane) to the invisible (or what she calls the "real world") which, at this very moment, at least, invisible to her as it lies beyond the walls of this institution. It is this unthought-of-invisible that fashions Jane's character in the coming chapters of the novel. It also determines her power of the gaze: That is the way she looks at and feels about the world around her. Jane's new romantic self becomes a corollary of her interest in exploring the invisible that lies beyond the boundaries of Lowood. The new transformed self is also reflected in Jane's forgiveness of her aunt Sarah Reed when she visits her at a latter time. I saw her in a black gown †¦. From the town (85) I looked I saw a woman attired like a well-dressed servant (86) After miss Temple's departure from Lowood, Jane starts thinking ambitiously of knowing what lies beyond the boundaries of Lowood school:

Thursday, January 16, 2020

Boeing’s Strategy

The Capital Assets Price Model (CAPM), is a model for pricing an individual security or a portfolio. Its basic function is to describe the relationship between risk and expected return, which is often used to estimate a cost of equity (Wikipedia, 2009). It serves as a model for determining the discount rate which is used in calculating net present value. The CAPM says that the expected return of a security or a portfolio equals the rate on a risk-free security plus a risk premium. The formula is: R = Rf + *(E(Rm)-Rf) Rf = Risk free rate of return, usually U. S. treasury bonds ( ) ? = Beta for a company E(Rm) = Expected return of the market (commercial airlines market) E(Rm)-Rf = Sometimes referred to as the risk premium The beta and risk-free rate should be selected as required according to the Boeing 7E7 case study. For the CAPM the risk free rate of return for a given period is taken to be the return on government bonds over the period. The risk free rate of return at the time of this case was 4. 56% (Bruner, p. 239, 2007). At the time of the case, four main estimatesof equity market risk premiums (EMRP) were: 6. 4% = Geometric mean over T-bills 4. 7% = Geometric mean over T-bonds 8. 4% = Arithmetic mean over T-bills . 4% = Arithmetic mean over T-bonds For the purpose of analysis we will use 6. 4% EMRP, thus (E(Rm)-Rf) = 6. 4 %. () The cost of equity is determined by the company’s levered Beta (). This is calculated according to the ‘Hamada equation’: ? l = ? u (1+(1-T)(D/E)) ?l = company’s levered Beta ?u = company’s unlevered beta (It is a beta assuming the firm is completely equity financed, which reflects pure business risk) T = effective marginal tax rate D/E = market-value debt/equity ratios Exhibit 10 provided seven different betas that can be used for the capital assets price model and discount rate calculation. The project of building airplanes is a long-term venture with the life span more than five years. Boeing created a sales and cash flow forecast for the next 30 years, based on Exhibit 8. This is why for the calculation we use the Beta calculated over the longer period of time. Out of the three Betas calculated for the period of time 5 years, (1. 05, 0. 80, 1. 00), we take 0. 80, the figure calculated against the S&P 500 index. It uses the weighted market value, which can actually reflect the importance of company’s securities in the market shares and the boarder market changes (Wikipedia, 2009). 0. 8 = ? u (1+(1-0. 5)*0. 525) Beta Asset = 0. 6 (overall risk of airplane industry) Total beta for Boeing equals to weighted beta from commercial business plus weighted beta for defense business. Beta = (%commercial)* Beta Commercial + (%defense )* Beta Defense. The average unlevered Beta for defense business among Lockheed Martin, Northrop Grumman and Raytheon is 0. 28 = (0. 28+0. 24 +0. 31)/3. () Exhibit 1 shows commercial business generated $28,387 million in revenue and the defense systems segment generated $24,957 in revenue in 2002. Thus the weight of commercial business is 53% and the weight of defense systems business is 47%. In addition, commercial business generated $9,726 million in identifiable assets and the defense systems segment generated $12,753 in identifiable assets in 2002. Thus the weight of commercial business is 43% and the weight of defense systems business is 57%. 0. 6 = 53%*Beta Commercial +47%*0. 28 Beta Commercial = 0. 88 0. 6 = 43%*Beta Commercial +57%*0. 28 Beta Commercial = 1. 02 There are two betas (0. 88, 1. 02) calculated for the risk of this industry, we choose the larger figure 1. 02. This indicates the larger discount rate for the project evaluation thus it could provide the more pessimistic scenario. The larger the discount rate from the CAPM, the more inflation we assume in our projection. Calculation of CAMP: R = 4. 56 +6. 4*1. 02=11. 08% The appropriate required rate of the return for evaluation the 7E7 project is 11. 08%. In EHHIBIT 10, it shows market-value debt/equity ratios, so it assumes that this ratio reflects the Boeing’s capital structure and using only debt and equity as finance the 7E7 commercial aircraft project in this case. There are two formulas to calculate the weight of debt and equity as show below: Debt/Equity=0. 525 (D/E=0. 525) Debt+Equity=1 (D+E=1); D=1-E Using the second formula substituting back into the first equation and the result is 1-E/E=0. 525, so through calculating this equation, it can indicate that E is 0. 656 and D is 1-0. 656=0. 344. The Boeing’s capital structure is that the weight of debt is 34. 4% and the weight of equity is 65. 6%. From this case, it gives a well-known formula how to finance Boeing’s weighted-average cost of capital (WACC), it shows below: WACC= (percent Debt) (Pretax cost of debt capital) (1- Marginal effective corporate tax rate) + (percent Equity) (Cost of equity capital) In previous calculation, it already know the percent Debt is 34. %, percent Equity is 65. 6%, Cost of equity capital is 11. 088% and in this case gives Marginal effective corporate tax rate is 35%. So it only just to calculate cost of Debt. The cost debt is the interest rate or yield that a firm must pay on its bonds. In this case, it uses weighted average yield to maturity to calculate cost of debt. Through the for m of EXHIBIT 11 and using two column debt amount and yield to maturity to finance cost of debt is 5. 286%, however, the appropriate cost of debt is the after-tax cost of debt, so the final cost of debt is 5. 86%*(1-35%)=3. 436%. All of variables is known, so it can calculate WACC=34. 4%*3. 436+65. 6%*11. 088%=8. 46%. The IRR which is consistent with ‘base case’ assumption was 15. 7% in the EXHIBIT 9 of case study. In this case, it shows that IRR (15. 7) is greater than WACC (8. 46%), so the 7E7 commercial aircraft project is quite attractive for Boeing. In the ENHIBIT 9, it indicates that the unit volume for the first 20 years will only be 1500 with 0% price premium above expected minimum price, under this worse circumstance, IRR still have 10. % which is still greater than WACC (8. 46%). Obviously, developing of the 7E7 commercial aircraft project is acceptable. The IRR is expected to be 15. 7%, while WACC is estimated to be 8. 46%, leaving a difference of 7. 24%. This excess will add value to Boeing’s stock and the company will believe that developing of the 7E7 commercial aircraft project is a worthy investment. In the EXHIBIT 9, there is another factor development costs which influence on the IRR of the 7E7 commercial aircraft project. Developmental cost could make or break the IRR of the aircraft. Boeing company could consider how to control the cost of development, if the company cannot control the developmental costs, the result is that the delivery delays and the company will give discounts to consumers, this will lead to IRR goes down. The Boeing use of composite material could change the manufacturing process, the machinery and the labor skills, so Boeing should recognize that the 7E7 project maybe have the potential for product cost and price inaccuracies and Boeing’s managers should concern how to reduce the development costs. Under the worst condition, from the form of EXHIBIT 9, it shows that development costs is $10,000,000,000 with cost of goods sold as a percentage of sales is 84%, that is IRR is 8. 6% still higher than WACC (8. 46%). Therefore, developing the 7E7 commercial aircraft project is an attractive project. From WACC this perspective to consider whether the 7E7 project is economically attractive or not, the WACC calculates an overall return that a corporate exist assets and business in order to increase or maintain the current value of current stock. In this case, it knows that Boeing’s stock price closed at $36. 41 and from the definition of WACC, it can understand that the Boeing must earn at least 8. 46% return from this 7E7 project in order to maintain this stock price. It also indicate that discount rate for this company is 11. 088%, compare with WACC 8. 46%, it means that the company under the safety circumstance to calculate net present value. In the previous calculation, cost of equity is 11. 088% and it can compute NPV is $2546. 74. The NPV is greater than zero, so the 7E7 commercial aircraft project is a profitable investment.

Wednesday, January 8, 2020

A Research On The Field Of Neuroscience - 1424 Words

Statement of Purpose Neuroscience is a fascinating area with a limitless possibility of understanding and uncovering to resolve so many unanswered questions. I have elected to pursue research in the field of neuroscience because I relish the approach of logical thinking to satisfy the curiosity of knowing things about me and the world around me. Although in recent years, a large number of breakthrough research has led open to the advancement in the diagnosis and therapeutic approaches for several neurological disorders and cancer such as glioma, there are a lot more to discover and untangle. Therefore, I decided to pursue my research in understanding such life-threatening neurological diseases. My first taste of actual research in†¦show more content†¦In addition to my Ph. D. dissertation research, parallel, I have also completed two projects during my doctoral training. One of the projects investigated the mechanism of modulation of neural-immune signaling by estrogen in reproductive aging. The study investigated the estrogen-induced effects on neuronal and immune responses in various brain areas and lymph nodes of middle-aged female rats. The data can be exploited to develop therapeutic strategies in cognitive impairment and age-associated neurodegenerative, inflammatory and autoimmune diseases predominantly prevalent in females. In another project, I have investigated the role of sex-based differences in the pathogenicity of rheumatoid arthritis in Indian men and women. Besides these projects, I actively participated in a number of other ongoing projects in my laboratory that helped me to gain co-authorship in two research papers and 17 abstracts in international conferences. I have also presented my work in a number of national and international conferences held by International Society for Noni Sciences, IMMUNOCON and Indian Academy of Neuroscience, which give me an opportunity to share my research as well as to know about the current research. In addition toShow MoreRelatedThe Human Organ That Leaves Developmental Biologists1725 Words   |  7 Pagesschemes makes neuroscience progress unsustainable with regard to ambitious goals of discovering more about the fundamentals of the brain and developing technologically advanced treatments for current financially draining disorders. One of the biggest dreads facing neuroscientists and modern day economists is that the US population is aging. Aging brings forth a tidal wave of neurodegenerative disease and the financial burden of more than $100 billion yearly (â€Å"Society for Neuroscience† 1). ClinicalRead MoreDr. Carter s Letter929 Words   |  4 PagesMarilyn Carter’s outstanding research work as a scientist in the field of neuroscience. Based on her research skills, publication records, and both her proven and ongoing contributions to the field, I am absolutely confident that Dr. Carter will continue to discover new aspects of neurodegenerative diseases and thus facilitate the discovery of new therapeutic methods, ultimately serving the national interests. Before providing further details of Dr. Carter and her research, I would like to introduceRead MoreGraduate Program At The University Of British Columbia1577 Words   |  7 PagesGraduate Program in Neuroscience Run shan (Felar) Yu Program Overview The graduate program in neuroscience offered at the University of British Columbia is a research-intensive program that trains students into knowledgeable neuroscientists. In addition to the rich research experience, this program offers a diverse selection of courses, including and not limited to, neuroanatomy, psychobiology and neuropharmacology. Students applying to this graduate program may choose to complete either a MSc orRead MoreSocial Cognition And Social Psychology1412 Words   |  6 Pagesmore biological sense of this, we find ourselves with social neuroscience. Social neuroscience is a fairly new interdisciplinary field, it is devoted to understanding and explaining how thoughts, emotions, and behaviors of people are influenced by the presence of others. This growing field uses cognitive neuroscientific methods to address the questions normally asked by social psychologists. Once known as social cognition, social neuroscience was popularized and introduced in an article by John CacioppoRead MoreThe Future Of Neuroscience : From Sci Fi1559 Words   |  7 PagesThe future of neuroscience: from sci-fi to reality Billions of football fans around the world were amazed in the summer of 2014, when 29 years old Brazilian Juliano Pinto [1], who was paralyzed from waist down, was able to kick a football to ceremonially open the World Cup. Pinto made the kick while wearing a robotic exoskeleton controlled by his brain. The high-tech demonstration was orchestrated by Duke University neuroscientist Miguel Nicolelis, as part of the Walk Again Project [2], to developRead MoreThe Theory Of The Mind Becomes Of Critical Importance860 Words   |  4 PagesAs neuroscience research progresses, the concept of the mind becomes of critical importance. The mind is usually considered to be a separate, nonmaterial entity compared to the physical neurons within the brain. However, the field of neuroscience is finding many connections between the physical nature of the brain and the supposed non-physical aspect of the human mind. In a sense, neuroscience seeks to understand the functioning of the mind in terms of th e physical neuronal firings of the brain.Read MoreEssay Paper for SPE 557 Latonja Newman Grand Canyon University1430 Words   |  6 Pages Disability Brain Research Essay   Latonja Newman   Grand Canyon University: SPE 557                                               Ã‚  Ã‚     Ã‚   In reflection on  neuroscience and the medical brain research study that explains learning disabilities  I found an online article  that is very interesting,  which explains the concept of  research. Researching students with learning disability has become the fore front of how student development and maintain information. According to  research, the goal of this study  isRead MoreComparing Two Approaches to Cognitive Psychology1423 Words   |  6 Pagesapproaches which can be used within this field, however for the purposes of the essay only two will be compared; cognitive neuroscience and neuropsychology. The aims of cognitive neuroscientists are often similar to those of cognitive psychologists; they are both interested in the brain and cognition, (Medin and Ross, 1996). Nevertheless, it could be argued that there are also some fundamental differences between the two approaches, especially in the research methods employed. This assignment willRead Moreh2Col orado State University/h2 h3College of Natural Sciences - Psychology/h3 Founded as an1000 Words   |  4 Pages Colorado State University has grown into one of the major research universities in the nation. It offers over 150 programs through eight college divisions and prides itself on providing its students with a world-class education. Among the most renowned educational pursuits at CSU are the diverse graduate degree programs available in the field of psychology. Graduate students can choose areas of study that emphasize clinical research, counseling within the workplace or community-based mental healthRead MoreOn Intelligence by Jeff Hawkins1675 Words   |  7 Pagesand worked in computer science, rather than neuroscience, Hawkins has a unique perspective and writes in terms that are accessible to someone from a non-neurological background or standpoint and often analogous to computer architecture, making the subject matter relatable to the interested layman. However, though he offers a plausible structure of the brain that mostly aligns with c urrent thinking, he does not take into account important recent research, omitting neurologically developments that have