The Dynamics of Movie Purchase and Rental Decisions: Customer Relationship Implications to Movie Studios

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "The Dynamics of Movie Purchase and Rental Decisions: Customer Relationship Implications to Movie Studios"

Transcription

1 Te Dynamics of Movie Purcase and Rental Decisions: Customer Relationsip Implications to Movie Studios Eddie Ree Associate Professor Business Administration Stoneill College 320 Wasington St Easton, MA 02357, USA. Abstract Researc on movie purcase and rental is rare wen ome movies are important for movie studios for te revenue potential. In tis paper we study te similarities and differences of consumer s movie purcase and rental decisions by investigating te factors associated wit te decisions. We collect data using national online survey on te consumer beavior and perceptions about movie purcase and rental and test ypoteses tat address te factors using bivariate probit regression. We discuss te results and managerial implications to te movie studios and te future extension of te study. Keywords: Movie Purcase; Movie Rental; Relationsip between Movie Purcase and Rental Decisions; Customer Relationsip Management. 1. Introduction Te motion picture industry is an important sector in te entertainment industry tat generates a substantial amount of revenues for various firms associated wit movies. Te firms in tis industry include movie studios, movie teatre operators, TV broadcasters, cable and satellite operators, retailers of movie-related goods, video rental companies, and video game publisers. Te key players in te motion-picture industry are movie studios tat serve as cannel captains in te industry. Tey produce te movies and manage ow teir movies are distributed in te cannel structure. Te box office sales ad traditionally been an important source of revenue for te movie studios but te ome movie sales and rentals ave now become a dominant revenue source for tem. In 2012, box office sales in Nort America totaled $10.8 billion (Germain 2013) but te ome movie sales were $18 billion tat included movie purcases and rentals (Orden 2013). Since a larger cunk of revenue is from ome entertainment market, it would be crucial for te movie studios to understand ow teir movies are sold and rented in te market. Specifically, tey need to understand te similarities and differences of consumer s ome movie purcase and rental beaviors. Ten te movie studios will be able to target te appropriate market segment and to allocate teir resource more efficiently. Wile te studies about te dynamics of ome movie purcase and rental are rare, tere arerelatively recent studies about te ome movie purcase. Xing and Tang (2004) discuss te pricing beavior in te online movie market using transactional data. Mortimer (2007) discusses optimal pricing of ome movies using analytical model wit no empirical applications. Hui et al. (2008) discuss pre-order sales using a retailer s transactional data. Tere are studies about ome movie rental. Lemann and Weinberg (2000) discuss te movie s optimal release time for te rental market. Dana and Spier(2001) discuss te value of revenue saring in te rental market. Van der Veen and Venugopal (2005) support te revenue saring contracts in te video rental supply cain. All of tese studies use analytical models wit no empirical applications. Terry and De Armond (2008) study te determinants of ome movie rental revenue using aggregate movie rental data. About te studies about te dynamics of ome movie purcase and rental, Prosser (2002) discusses te prediction of ome movie revenue tat includes bot movie sale and rental using an aggregate ome movie market data. Knox and Eliasberg (2009) study te consumer s rent vs. buy decision from te retailer s perspective. 42

2 Center for Promoting Ideas, USA Using a transactional database, tey study te ome movie subscriber beavior, te customer segmentation and pricing. Tey use te expected number of viewings as te main tresold value for te consumer s buy vs. rent decision. As te literature review sows, te studies about te dynamics of ome movie purcase and rental are very rare. Even te existing studies are eiter teoretical wit no empirical applications or empirical studies applied to a transactional database were a direct measure of consumer perception and satisfaction is missing. Te current study investigates te dynamics of ome movie purcase and rental decisions and measures consumer perception and satisfaction by a national online consumer survey. Te major advantage of our study over te previous ones is tat using a consumer survey it is able to ask te consumers directly about teir past beavior and teir perceptions about te movie purcase and rental and to provide insigts beyond te traditional measure of expected number of viewings. Te objective of te study is to investigate te similarities and differences of te ome movie purcase and rental decisions and to examine te relationsip between te two decisions. We develop a survey instrument and administer it to te general public using a national online survey. Te survey measures te movie going beavior, genre preferences, and te consumer perceptions of ome movie purcases and rentals. Te empirical results sow support for most of te ypoteses and a negative relationsip between te movie purcase and rental decisions. Te result also offers directions to te movie studios about teir targeting effort and customer relationsip implications. Te remainder of te paper is organized as follows. We first discuss te ypoteses about te purcase and rental decisions. Ten we discuss te movie purcase and rental survey study discussing te description of te online survey and te caracteristics of te data and te respondents. We ten detail te data analysis metod for testing te ypoteses and discuss te estimation and ypotesis testing results. We conclude wit a discussion of managerial implications and te future researc opportunities. 2. Development of Hypoteses Hypoteses are set up to investigate te similarities and differences of te ome movie purcase and te rental decisions. Tey are about te number of teatre visits, te expected number of ome movie viewings, perceptions about ome movie, and te relationsip between ome movie purcase and rental decisions. Te number of teatre visits is a general factor tat may influence te decisions. Te expected number of viewings is a measure tat te previous studies ave discussed but te perception measures are te unique factors tat te current study investigates. Finally, understanding te relationsip between te two consumer decisions is important for te movie studios in developing customer relationsips for te ome movie sale and rental markets. 2.1 Teatre Visits Collins and Hand (2005) discusses te relationsip between movie teatre visits and ome movie usage. Movie teatre visits and ome movie usage are considered as complements to eac oter since frequent movie teatre visits can allow consumers to know wat movies are available in te oter medium. We argue tat te consumers wo visit movie teatres frequently are more likely to buy and rent ome movies since frequent teatre visits would indicate a general interest in movie products. Terefore, we ypotesize te following: Hypotesis 1a: Te more often te consumers go to movie teatres, te more likely to buy ome movies. Hypotesis 1b: Te more often te consumers go to movie teatres, te more likely to rent ome movies. 2.2 Expected Number of Home Movie Viewings Te consumer wo expects to watc te same ome movie more frequently would be more likely to purcase te movie even toug owning movies would mean greater financial investment. Knox and Eliasberg(2009)supports te same argument and use te expected number of viewings as teir major tresold measure for rent vs. buy decisions. Te following ypoteses capture tis argument: Hypotesis 2a: Te larger number of times te consumers would watc te same movie, te more likely to buy ome movies. Hypotesis 2b: Te larger number of times te consumers would watc te same movie, te less likely to rent ome movies. 43

3 2.3 Consumer Perceptions about Home Movies Te consumer perceptions about ome movies would be igly related to te ome movie purcase and rental decisions beyond te traditional measure of expected number of movie viewings. Tey include te perceived value of te movie ownersip, perceived pleasure level of te second viewing, and te perceived quality of rented movies. Wen te consumer would like to carge iger price if tey were to sell te movie tey own, teir perceived value of teir movie ownersip can be considered ig. Zeitaml (1988) suggest tat te perceived value is te consumer s overall assessment of te utility of a product based on wat is received and wat is given. Higer perceived value of teir movie ownersip will ten naturally increase te cance tat tey buy movie rater tan rent. Terefore, Hypotesis 3a: Te iger price te consumers would carge te movie tey own if tey were to sell, te more likely to buy ome movies. Hypotesis 3b: Te iger price te consumers would carge te movie tey own if tey were to sell, te less likely to rent ome movies. Wen te consumer perceives te pleasure and excitement on watcing te movie te second time te same as or close to te first time, te consumer would ave iger perceived value of te investment in te movie purcase and ence tere would be iger cance tat tey buy te movie. Terefore, Hypotesis 4a: Te more similar pleasure level te consumers would perceive from a second viewing to te first viewing of te ome movie, te more likely to buy movies. Hypotesis 4b: Te more similar pleasure level te consumers would perceive from a second viewing to te first viewing of te ome movie, te less likely to rent movies. Consumers may perceive te video quality, disc condition, and te packaging of a rented movie differently from tose of te new movie. If te perceived quality of te movie for rental is low, tey would be more likely to buy tan to rent a movie. Aaker and Jacobson (1994), Bolton and Drew (1991), Rust et al. (1995), and Zeitaml(1988) support tis argument tat te consumer s perception of quality drives preferences and consequently satisfaction, loyalty, sales, and profitability. Terefore, Hypotesis 5a: Te more satisfied te consumers are wit te video quality, disc condition, and packaging of te rented movies, te less likely to buy movies. Hypotesis 5b: Te more satisfied te consumers are wit te video quality, disc condition, and packaging of te rented movies, te more likely to rent movies. 2.4 Relationsip between te Movie Purcase and Rental Decisions Tere seems to be a general consensus in te literature tat te movie purcase and rental decisions are mutually exclusive at te individual level (Knox and Eliasberg 2009). Te consumer would decide eiter to buy or rent te movie at a particular sopping occasion. Te current study tests te relationsip between te two decisions at te aggregate level. Knowing te nature of te relationsip between te movie purcase and rental decisions in te market would enable te movie studios to design teir marketing programs accordingly. Hence, Hypotesis 6: Te movie purcase decision is negatively related to te movie rental decision. 3. Researc Metodology 3.1 Survey Development, Sample, and Data Caracteristics Tis study uses an online survey instrument to collect data needed to test te proposed ypoteses. Te questionnaire measures te respondents movie going beavior and genre preferences, teir ome movie watcing beavior, and teir perceptions about movie purcases and rentals. Some key questions of te questionnaire are sown in te Appendix. Te survey is administered to te general public nationwide in te United States. We use 438 responses for study after eliminating for missing values and inconsistent answers. Te respondents in te sample rebalanced in terms of demograpics: 45.7% male; 53.4% age 30 54; 31.3% 4-year college degree; 40.9% ouseold income $25,000-$74,

4 Center for Promoting Ideas, USA Modeling Framework Table 1: Respondent Profile Gender Male 45.70% Female 54.30% Age % % % % % % Education Less tan Hig Scool 1.4% Hig Scool/GED 13.9% In College 9.8% 2-Year College Degree (Associate) 15.1% 4-Year College Degree (BA, BS) 31.3% Master's Degree 19.9% Doctoral Degree 3.9% Professional Degree (MD, JD) 3.2% HH Income before Tax < $15, % $15,000 - $24, % $25,000 - $49, % $50,000 - $74, % $75,000 - $99, % $100,000 - $149, % $150, % Te study tests te ypoteses about te consumer s movie purcase and rental beaviors and te relationsip between te purcase and rental decisions. Te two equations include (i) te consumer s movie purcase and (ii) te consumer s movie rental. Aspects of tis system of equations are detailed in te following sections Consumer Movie Purcase Model Te consumer as te movie seeming to be te most attractive for purcase. More precisely, let te movie purcase of customer be Y. Under te current survey study, te model is a cross-sectional analysis. Ten te purcase can be expressed as: P Y P 1 if te movie is purcased wen U P 0 and 0 oterwise. (1) U is te movie s attractiveness for purcase based on te following model: U P Gender Age Education HHIncome Storage P AA AC Cl Co Do Dr Fam Fan Ho MS Ro SF War Wes Freq _ Teatre 21N _ Viewing 22P _ Sell Sat _ Rnt P ~ N(0,1) P Pleasure Note tat is an error term tat represents any oter unknown factors tat may be related to te attractiveness of P te movie for purcase. (2) 45

5 Te variance of te error term is set to be one for model identification purpose and ence tis is a probit model. In our case, tere are control variables and te variables for te ypotesis tests. Te control variables are included in order to test te ypoteses in control of te individual differences and te individual genre preferences. Te control variables for te individual differences include: Gender = 1 if te consumer is male; Age represents te consumer s age in multiple categories; Education represents te consumer s education level in multiple categories; HHIncome represents te consumer s ouseold income in multiple categories; and Storage = 1 if te consumer as movies on te computer or oter storage devices. Storage is included since owning movies in te storage may influence te purcase and rental beavior. Te control variables for te individual genre preferences include: AA = action and adventure; AC = animation and cartoons; Cl = classics; Co = comedy; Do = documentary; Dr = drama; Fam = family; Fan = fantasy; Ho = orror; MS = mystery and suspense; Ro = romance; SF = science and fiction; War = war; and Wes = western. Te variables for ypotesis testing include: Freq_Teatre = te annual frequency of movie going; N_Viewing = te number of times te consumer would watc after buying a movie; P_Sell = te price te consumer would like to carge if tey were to sell te movie tat is bougt for $15; Pleasure = te points of perceived pleasure (or excitement) level te consumer would give for te second time viewing wen te points of pleasure for te first time viewing is 100; Sat_Rnt = te points of perceived satisfaction te consumer would give to te video quality, disc condition, and te packaging of a rented movie wen te points of satisfaction for a brand-new movie is Consumer Movie Rental Model Te consumer as te movie seeming to be te most attractive for rental. More precisely, let te movie rental of a customer be Y. Ten te purcase can be expressed as: R Y R 1 if te movie is rented wen U R 0 and 0 oterwise. (3) U is te movie s attractiveness for rental based on te following model: U R Gender Age Education HHIncome Storage R AA AC Cl Co Do Dr Fam Fan Ho MS Ro SF War Wes Freq _ Teater 21N _ Viewing 22P _ Sell Sat _ Rnt R R ~ N(0,1) R Pleasure Note tat is an error term tat represents any oter unknown factors tat may be related to te attractiveness of te movie for rental. Te variance of te error term is set to be one for model identification purpose and ence tis is also a probit model. In te interest of investigating te similarities and differences of te ome movie purcase and rental beaviors, te control variables and te variables for te ypoteses testing in tis rental model are exactly te same as in te movie purcase model and ence te definition of te variables in tis model is te same as tose in te purcase model Properties of te Error Terms Te relationsip between te consumer s movie purcase and rental beaviors is modelled troug a covariance matrix on (, ). Te covariance matrix is defined as P R 1 σ P,R 1 Te variance terms in te covariance matrix are ones since te variance of te error terms is set to be one for model identification purpose. Hence te covariance value is equivalent to te correlation of te two equations. (4) (5) 46

6 Center for Promoting Ideas, USA Te correlation of te error terms ( σ P,R ) represents te nature of te relationsip between te consumer s movie purcase and rental decisions. If te correlation is negative and statistically significant, it sows tat tere exists negative relationsip between te purcase and rental decisions. 3.3 Estimation Te coefficients and te correlation coefficient in te system of equations are estimated using bivariate probit regression analysis. 4. Results Te estimation results support most of te ypoteses. About te control variables, tey are used to control for te individual differences and individual genre preferences but tere are a few statistically significant results. Te consumers wit iger education level are less likely to purcase movies. Te consumers are more likely to buy te action and adventure but less likely to buy te animation and cartoons. Furtermore, tey are more likely to rent te drama and orror movies. Table 2: Empirical Results DVD Purcase Model DVD Rental Model Est. Coeff Std Err Est. Coeff Std Err Intercept * Control Variables Gender Age Education * HH Income Storage Action & Adventure * Animation & Cartoons * Classics Comedy Documentary Drama * Family Fantasy Horror * Mystery & Suspense Romance Science Fiction War Western Variables for Hypotesis Tests Freq_Teater * Number of Viewing * * Price to Sell * Perceived Pleasure Level * Perceived Satisfaction of Rented Movie * * Estimate Std Err Covariance * Note: Parameter estimates denoted by (*) are statistically different from zero (p<.05). 47

7 About te variables for ypotesis tests, H1a is not supported but H1b is supported. Te more often te consumers go to movie teatres; tey are more likely to rent movies. Bot H2a and H2b are supported. Te larger number of times te consumers would watc te same movie, tey are more likely to buy movies. Te fact tat tey would watc more may mean tat it would be wort te investment to buy and own it. Tis result supports te use of tis variable for buy and rent decisions in te existing literature. However, te larger number of times te consumers would watc te same movie, te less likely to rent movies. H3a is supported but H3b is not supported. Wen te perceived value of movie is ig, tey are more likely to purcasemovies.h4a is supported but H4b is not. Wen te consumers perceive te pleasure (or excitement) on te second viewing more equivalent to tat of te first viewing, tere is iger cance for tem to buy te movie. Bot H5a and H5b are supported. Te satisfaction wit te video quality, disc condition, and te packaging of te rented movie as negative relationsip wit te movie purcase decision but positive relationsip wit te rental decision. Finally, H6 is supported. Te estimated covariance of te movies purcase and rental decisions is negative and statistically significant. In summary, we find tat te people wo view te movie frequently after purcase, wose perceived value of movie is ig and wose pleasure level is still ig on second viewing are more likely to purcase te movies. Wen tey perceive te quality of rented movie satisfactory, tey are less likely to purcase te movies. About te movie rental decision, we find tat te consumers wo go to te movie teatres frequently and wen tey perceive te quality of rented movie satisfactory, tey are more likely to rent te movies. Wen tey view te movie frequently after purcase, tey are less likely to rent te movies. Finally, te movie purcase and rental decisions are found to be negatively related in te market. 5. Managerial Implications Te study identifies te factors tat are associated wit te consumer decisions of purcasing and renting movies and te relationsip between te two decisions. It uses a national online survey and analyzes te data using a system of two simultaneous equations. Te empirical analysis supports most of te ypoteses and sows a negative relationsip between te ome movie purcase and rental decisions. Te negative and significant relationsip between te movie purcase and rental decisions in te study implies tat tere is a segment of consumers tat would sow iger likeliood to purcase te movie wereas te oter segment would sow iger likeliood to rent te movie. Due to tis nature of negative relationsip between te movie purcase and rental decisions, te overall revenue would dramatically decrease if tey direct teir marketing effort to a wrong segment. Te movie studios need to understand te similarities and differences of movie purcase and rental beaviors of tese segments and design teir marketing program accordingly. Table 3: Representative Consumer Segments Consumer 1 2 Predicted Pr(Purcase) Predicted Pr(Rental) Action & Adventure 1 0 Animation& Cartoons 0 0 Drama 0 1 Horror 0 0 Freq of Teatre Visits 2 12 Expected Number of Viewing 2 0 Price to Sell $15 $5 Perceived Pleasure Level Perceived Satisfaction of Rented Movie Table 3sows two representative consumers from eac of te two segments. Te first group of consumers sows iger predicted likeliood to purcase te movie. Tese consumers like action and adventure movies, visited te movie teatre two times te last year, expect two viewings, would sell a used movie for $15, te same price as a new movie, perceive te pleasure level for te second viewing te same as te first viewing, sow perceived satisfaction of rented movie 60% of a new movie. Te second group of consumers sows iger predicted likeliood to rent te movie. 48

8 Center for Promoting Ideas, USA Tese consumers like drama, visited te movie teatre twelve times te last year, expects zero viewing, would sell a used movie for $5, perceive te pleasure level for te second viewing only 70% of te first viewing, sow perceived satisfaction of rented movie 90% of a new movie. For te movie sale market, te movie studios are recommended to promote te action and adventure movies, target te people wo expect to watc te movie more frequently, wo would value teir ome movie iger, wo perceive te pleasure level of te second viewing te same as te first viewing, and wo perceive te quality of rented movie lower. For te movie rental market, te movie studios are recommended to promote te drama and target te people wo visit te movie teatres more frequently, wo do not expect to watc te movie after te first viewing, and wo perceive te quality of rented movie iger. 6. Conclusion Te current study makes contributions to te literature. First, te study is one of very rare studies tat investigate te dynamics of consumer s ome movie purcase and rental decisions. It furter provides te overall relationsip between te two decisions at te aggregate level and discusses te managerial implications to te movie studios. Second, te study examines te consumer perceptions about movie viewing using a national online survey. Most existing studies in te literature address te topic using eiter a teoretical model or an empirical application to a transactional database and tus fail to incorporate consumer-oriented factors suc as perception and satisfaction levels. Te study provides te understanding of te similarities and differences of te consumer s purcase and rental decisions and implications to te movie studios but it does not address social aspects of te ome entertainment option. Consumers may want to own ome movies instead of renting tem so tat tey can invite friends to come over wenever to enjoy te movie togeter. Te future study can address te social factors in ome movie purcase and rental decisions. It can also test te factors associated wit te retailers. For instance, it can investigate te consumer s retail store coices for te movie purcase and rental decisions. It would provide managerial implications for te retail industry about te consumer s retailer coice for te movie purcase and rental decisions. References Aaker, D.A. and Jacobson,R. (1994) Te Financial Information Content of PerceivedQuality.Journal of Marketing Researc 31 (2): Bolton, R.N. and Drew, J.H. (1991)A Longitudinal Analysis of te Impact of Service Canges on Customer Attitudes. Journal of Marketing55 (1): 1-9. Collins, A. and Hand,C. (2005)Analyzing Moviegoing Demand: An Individual-Level Cross-Sectional Approac.Managerial and Decision Economics 26 (5): Dana, J.D., Jr. and Spier, K.E. (2001)Revenue Saring and Vertical Control in te Video Rental Industry. Journal of Industrial Economics 49 (3): Hui, S.K., Eliasberg, J. and George,E. (2008) Modeling DVD Preorder and Sales: An Optimal Stopping Approac. Marketing Science 27 (6): Germain, D. (2013)2012 Box Office Hits Record $10.8 Billion; Ticket Sales Increase For First Time In 3 Years.Huff Post Entertainment, May 15. Knox, G. and Eliasberg, J. (2009) Te Consumer's Rent vs. Buy Decision in te Rentailer.International Journal of Researc in Marketing 26 (2): Lemann, D.R. and Weinberg, C.B. (2000)Sales Troug Sequential Distribution Cannels: An Application to Movies and Videos. Journal of Marketing 64 (July): Mortimer, J.H. (2007)Price Discrimination, Copyrigt Law, and Tecnological Innovation: Evidence from te Introduction of DVDs.Quarterly Journal of Economics 122 (3): Orden, E. (2013)Home Movie Sales Log Rare Increase.Te Wall Street Journal, Jan 8. Prosser, E.K. (2002) How Early Can Video Revenue Be Accurately Predicted?Journal of Advertising Researc Marc-April:

9 Rust, R.T., Zaorik, A.J. and Keiningam, T.L. (1995)Return on Quality (ROQ): Making Service Quality Financially Accountable.Journal of Marketing 59 (2): Terry, N. and De'Armond, D. (2008)Te determinants of Movie Rental Revenue Earnings.Academy of Marketing Studies Journal 12 (2): Van der Veen, J.A.A. and Venugopal, V. (2005)Using Revenue Saring to Create Win-Win in te Video Rental Supply Cain.Journal of te Operational Researc Society 56 (7): Xing, X. and Tang, F. (2004)Pricing Beavior in te Online DVD Market.Journal of Retailing and Consumer Services 11: Zeitaml, V. (1988)Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Syntesis of Evidence. Journal of Marketing 52: Appendix: Key Survey Questions 1. On Average, How Many Times do You go to Movie Teaters Per Year? 2. Wat types of movies do you like? (Ceck all tat apply.) [ ] Action and Adventure [ ] Animation and Cartoons [ ] Classics [ ] Comedy [ ] Documentary [ ] Drama [ ] Family [ ] Fantasy [ ] Horror [ ] Mystery and Suspense [ ] Romance [ ] Science Fiction [ ] War [ ] Western 3. Wen you buy a ome movie from a retailer and you like te movie after watcing it, ow many times do you watc te movie on average (including te initial viewing)? ( ) One time ( ) Two times ( ) Tree times ( ) Four times ( ) Oter: 4. If te retailers buy back used movies tat you don't want to keep any more, wat is te lowest price would you sell at? Assume tat you bougt a $15 new movie. 5. Suppose tat your pleasure (or excitement) level is 100 points wen you watc your favorite movie for te first time. How many points would you give as your pleasure level wen you watc te same movie for te second time and te tird time? Second time: Tird time: 6. If your satisfaction wit video quality, disc condition, and packaging of a brand-new movie you just bougt is 100 points, ow many points would you give to your satisfaction wit video quality, disc condition, and packaging of a rented movie? point 50

Optimal Pricing Strategy for Second Degree Price Discrimination

Optimal Pricing Strategy for Second Degree Price Discrimination Optimal Pricing Strategy for Second Degree Price Discrimination Alex O Brien May 5, 2005 Abstract Second Degree price discrimination is a coupon strategy tat allows all consumers access to te coupon. Purcases

More information

Finite Difference Approximations

Finite Difference Approximations Capter Finite Difference Approximations Our goal is to approximate solutions to differential equations, i.e., to find a function (or some discrete approximation to tis function) tat satisfies a given relationsip

More information

Geometric Stratification of Accounting Data

Geometric Stratification of Accounting Data Stratification of Accounting Data Patricia Gunning * Jane Mary Horgan ** William Yancey *** Abstract: We suggest a new procedure for defining te boundaries of te strata in igly skewed populations, usual

More information

Instantaneous Rate of Change:

Instantaneous Rate of Change: Instantaneous Rate of Cange: Last section we discovered tat te average rate of cange in F(x) can also be interpreted as te slope of a scant line. Te average rate of cange involves te cange in F(x) over

More information

Investigating Cost-Efficient Ways of Running a Survey of Pacific Peoples. Undertaken for the Ministry of Pacific Island Affairs

Investigating Cost-Efficient Ways of Running a Survey of Pacific Peoples. Undertaken for the Ministry of Pacific Island Affairs Investigating Cost-Efficient Ways of Running a Survey of Pacific Peoples Undertaken for te Ministry of Pacific Island Affairs by Temaleti Tupou, assisted by Debra Taylor and Tracey Savage Survey Metods,

More information

Math Test Sections. The College Board: Expanding College Opportunity

Math Test Sections. The College Board: Expanding College Opportunity Taking te SAT I: Reasoning Test Mat Test Sections Te materials in tese files are intended for individual use by students getting ready to take an SAT Program test; permission for any oter use must be sougt

More information

2.23 Gambling Rehabilitation Services. Introduction

2.23 Gambling Rehabilitation Services. Introduction 2.23 Gambling Reabilitation Services Introduction Figure 1 Since 1995 provincial revenues from gambling activities ave increased over 56% from $69.2 million in 1995 to $108 million in 2004. Te majority

More information

ANALYTICAL REPORT ON THE 2010 URBAN EMPLOYMENT UNEMPLOYMENT SURVEY

ANALYTICAL REPORT ON THE 2010 URBAN EMPLOYMENT UNEMPLOYMENT SURVEY THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA CENTRAL STATISTICAL AGENCY ANALYTICAL REPORT ON THE 2010 URBAN EMPLOYMENT UNEMPLOYMENT SURVEY Addis Ababa December 2010 STATISTICAL BULLETIN TABLE OF CONTENT

More information

Solution Derivations for Capa #7

Solution Derivations for Capa #7 Solution Derivations for Capa #7 1) Consider te beavior of te circuit, wen various values increase or decrease. (Select I-increases, D-decreases, If te first is I and te rest D, enter IDDDD). A) If R1

More information

Modeling User Perception of Interaction Opportunities for Effective Teamwork

Modeling User Perception of Interaction Opportunities for Effective Teamwork Modeling User Perception of Interaction Opportunities for Effective Teamwork Ece Kamar, Ya akov Gal and Barbara J. Grosz Scool of Engineering and Applied Sciences Harvard University, Cambridge, MA 02138

More information

The Demand for Food Away From Home Full-Service or Fast Food?

The Demand for Food Away From Home Full-Service or Fast Food? United States Department of Agriculture Electronic Report from te Economic Researc Service www.ers.usda.gov Agricultural Economic Report No. 829 January 2004 Te Demand for Food Away From Home Full-Service

More information

Math 113 HW #5 Solutions

Math 113 HW #5 Solutions Mat 3 HW #5 Solutions. Exercise.5.6. Suppose f is continuous on [, 5] and te only solutions of te equation f(x) = 6 are x = and x =. If f() = 8, explain wy f(3) > 6. Answer: Suppose we ad tat f(3) 6. Ten

More information

Free Shipping and Repeat Buying on the Internet: Theory and Evidence

Free Shipping and Repeat Buying on the Internet: Theory and Evidence Free Sipping and Repeat Buying on te Internet: eory and Evidence Yingui Yang, Skander Essegaier and David R. Bell 1 June 13, 2005 1 Graduate Scool of Management, University of California at Davis (yiyang@ucdavis.edu)

More information

SAMPLE DESIGN FOR THE TERRORISM RISK INSURANCE PROGRAM SURVEY

SAMPLE DESIGN FOR THE TERRORISM RISK INSURANCE PROGRAM SURVEY ASA Section on Survey Researc Metods SAMPLE DESIG FOR TE TERRORISM RISK ISURACE PROGRAM SURVEY G. ussain Coudry, Westat; Mats yfjäll, Statisticon; and Marianne Winglee, Westat G. ussain Coudry, Westat,

More information

7.6 Complex Fractions

7.6 Complex Fractions Section 7.6 Comple Fractions 695 7.6 Comple Fractions In tis section we learn ow to simplify wat are called comple fractions, an eample of wic follows. 2 + 3 Note tat bot te numerator and denominator are

More information

The classical newsvendor model under normal demand with large coefficients of variation

The classical newsvendor model under normal demand with large coefficients of variation MPRA Munic Personal RePEc Arcive Te classical newsvendor model under normal demand wit large coefficients of variation George Halkos and Ilias Kevork University of Tessaly, Department of Economics August

More information

Proof of the Power Rule for Positive Integer Powers

Proof of the Power Rule for Positive Integer Powers Te Power Rule A function of te form f (x) = x r, were r is any real number, is a power function. From our previous work we know tat x x 2 x x x x 3 3 x x In te first two cases, te power r is a positive

More information

Verifying Numerical Convergence Rates

Verifying Numerical Convergence Rates 1 Order of accuracy Verifying Numerical Convergence Rates We consider a numerical approximation of an exact value u. Te approximation depends on a small parameter, suc as te grid size or time step, and

More information

Differentiable Functions

Differentiable Functions Capter 8 Differentiable Functions A differentiable function is a function tat can be approximated locally by a linear function. 8.. Te derivative Definition 8.. Suppose tat f : (a, b) R and a < c < b.

More information

This supplement is meant to be read after Venema s Section 9.2. Throughout this section, we assume all nine axioms of Euclidean geometry.

This supplement is meant to be read after Venema s Section 9.2. Throughout this section, we assume all nine axioms of Euclidean geometry. Mat 444/445 Geometry for Teacers Summer 2008 Supplement : Similar Triangles Tis supplement is meant to be read after Venema s Section 9.2. Trougout tis section, we assume all nine axioms of uclidean geometry.

More information

Module 1: Introduction to Finite Element Analysis Lecture 1: Introduction

Module 1: Introduction to Finite Element Analysis Lecture 1: Introduction Module : Introduction to Finite Element Analysis Lecture : Introduction.. Introduction Te Finite Element Metod (FEM) is a numerical tecnique to find approximate solutions of partial differential equations.

More information

Strategic trading in a dynamic noisy market. Dimitri Vayanos

Strategic trading in a dynamic noisy market. Dimitri Vayanos LSE Researc Online Article (refereed) Strategic trading in a dynamic noisy market Dimitri Vayanos LSE as developed LSE Researc Online so tat users may access researc output of te Scool. Copyrigt and Moral

More information

Understanding the Derivative Backward and Forward by Dave Slomer

Understanding the Derivative Backward and Forward by Dave Slomer Understanding te Derivative Backward and Forward by Dave Slomer Slopes of lines are important, giving average rates of cange. Slopes of curves are even more important, giving instantaneous rates of cange.

More information

Trapezoid Rule. y 2. y L

Trapezoid Rule. y 2. y L Trapezoid Rule and Simpson s Rule c 2002, 2008, 200 Donald Kreider and Dwigt Lar Trapezoid Rule Many applications of calculus involve definite integrals. If we can find an antiderivative for te integrand,

More information

The modelling of business rules for dashboard reporting using mutual information

The modelling of business rules for dashboard reporting using mutual information 8 t World IMACS / MODSIM Congress, Cairns, Australia 3-7 July 2009 ttp://mssanz.org.au/modsim09 Te modelling of business rules for dasboard reporting using mutual information Gregory Calbert Command, Control,

More information

A.4. Rational Expressions. Domain of an Algebraic Expression. What you should learn. Why you should learn it

A.4. Rational Expressions. Domain of an Algebraic Expression. What you should learn. Why you should learn it A6 Appendi A Review of Fundamental Concepts of Algebra A.4 Rational Epressions Wat you sould learn Find domains of algebraic epressions. Simplify rational epressions. Add, subtract, multiply, and divide

More information

Catalogue no. 12-001-XIE. Survey Methodology. December 2004

Catalogue no. 12-001-XIE. Survey Methodology. December 2004 Catalogue no. 1-001-XIE Survey Metodology December 004 How to obtain more information Specific inquiries about tis product and related statistics or services sould be directed to: Business Survey Metods

More information

M(0) = 1 M(1) = 2 M(h) = M(h 1) + M(h 2) + 1 (h > 1)

M(0) = 1 M(1) = 2 M(h) = M(h 1) + M(h 2) + 1 (h > 1) Insertion and Deletion in VL Trees Submitted in Partial Fulfillment of te Requirements for Dr. Eric Kaltofen s 66621: nalysis of lgoritms by Robert McCloskey December 14, 1984 1 ackground ccording to Knut

More information

VOL. 6, NO. 9, SEPTEMBER 2011 ISSN ARPN Journal of Engineering and Applied Sciences

VOL. 6, NO. 9, SEPTEMBER 2011 ISSN ARPN Journal of Engineering and Applied Sciences VOL. 6, NO. 9, SEPTEMBER 0 ISSN 89-6608 006-0 Asian Researc Publising Network (ARPN). All rigts reserved. BIT ERROR RATE, PERFORMANCE ANALYSIS AND COMPARISION OF M x N EQUALIZER BASED MAXIMUM LIKELIHOOD

More information

2.12 Student Transportation. Introduction

2.12 Student Transportation. Introduction Introduction Figure 1 At 31 Marc 2003, tere were approximately 84,000 students enrolled in scools in te Province of Newfoundland and Labrador, of wic an estimated 57,000 were transported by scool buses.

More information

In their classic textbook, Musgrave and Musgrave (1989)

In their classic textbook, Musgrave and Musgrave (1989) Integrating Expenditure and Tax Decisions Integrating Expenditure and Tax Decisions: Te Marginal Cost of Funds and te Marginal Benefit of Projects Abstract - Tis paper seeks to clarify te extent to wic

More information

Can a Lump-Sum Transfer Make Everyone Enjoy the Gains. from Free Trade?

Can a Lump-Sum Transfer Make Everyone Enjoy the Gains. from Free Trade? Can a Lump-Sum Transfer Make Everyone Enjoy te Gains from Free Trade? Yasukazu Icino Department of Economics, Konan University June 30, 2010 Abstract I examine lump-sum transfer rules to redistribute te

More information

Schedulability Analysis under Graph Routing in WirelessHART Networks

Schedulability Analysis under Graph Routing in WirelessHART Networks Scedulability Analysis under Grap Routing in WirelessHART Networks Abusayeed Saifulla, Dolvara Gunatilaka, Paras Tiwari, Mo Sa, Cenyang Lu, Bo Li Cengjie Wu, and Yixin Cen Department of Computer Science,

More information

Hardness Measurement of Metals Static Methods

Hardness Measurement of Metals Static Methods Hardness Testing Principles and Applications Copyrigt 2011 ASM International Konrad Herrmann, editor All rigts reserved. www.asminternational.org Capter 2 Hardness Measurement of Metals Static Metods T.

More information

Average and Instantaneous Rates of Change: The Derivative

Average and Instantaneous Rates of Change: The Derivative 9.3 verage and Instantaneous Rates of Cange: Te Derivative 609 OBJECTIVES 9.3 To define and find average rates of cange To define te derivative as a rate of cange To use te definition of derivative to

More information

A STUDY ON NUMERICAL COMPUTATION OF POTENTIAL DISTRIBUTION AROUND A GROUNDING ROD DRIVEN IN SOIL

A STUDY ON NUMERICAL COMPUTATION OF POTENTIAL DISTRIBUTION AROUND A GROUNDING ROD DRIVEN IN SOIL A STUDY ON NUMERICAL COMPUTATION OF POTENTIAL DISTRIBUTION AROUND A GROUNDING ROD DRIVEN IN SOIL Ersan Şentürk 1 Nurettin Umurkan Özcan Kalenderli 3 e-mail: ersan.senturk@turkcell.com.tr e-mail: umurkan@yildiz.edu.tr

More information

For Sale By Owner Program. We can help with our for sale by owner kit that includes:

For Sale By Owner Program. We can help with our for sale by owner kit that includes: Dawn Coen Broker/Owner For Sale By Owner Program If you want to sell your ome By Owner wy not:: For Sale Dawn Coen Broker/Owner YOUR NAME YOUR PHONE # Look as professional as possible Be totally prepared

More information

Heterogeneous firms and trade costs: a reading of French access to European agrofood

Heterogeneous firms and trade costs: a reading of French access to European agrofood Heterogeneous firms and trade costs: a reading of Frenc access to European agrofood markets Cevassus-Lozza E., Latouce K. INRA, UR 34, F-44000 Nantes, France Abstract Tis article offers a new reading of

More information

2.0 5-Minute Review: Polynomial Functions

2.0 5-Minute Review: Polynomial Functions mat 3 day 3: intro to limits 5-Minute Review: Polynomial Functions You sould be familiar wit polynomials Tey are among te simplest of functions DEFINITION A polynomial is a function of te form y = p(x)

More information

ACT Math Facts & Formulas

ACT Math Facts & Formulas Numbers, Sequences, Factors Integers:..., -3, -2, -1, 0, 1, 2, 3,... Rationals: fractions, tat is, anyting expressable as a ratio of integers Reals: integers plus rationals plus special numbers suc as

More information

INDEX OF PERSONS EMPLOYED IN RETAIL TRADE (2010=100.0)

INDEX OF PERSONS EMPLOYED IN RETAIL TRADE (2010=100.0) NDX OF PRSONS MPLOYD N RTAL TRAD (20000.0. ntroduction Te ndex of Persons mployed in Retail Trade is a quarterly index tat was compiled for te first time in 2004 wit 200000.0 as te base year and backdated

More information

Finite Volume Discretization of the Heat Equation

Finite Volume Discretization of the Heat Equation Lecture Notes 3 Finite Volume Discretization of te Heat Equation We consider finite volume discretizations of te one-dimensional variable coefficient eat equation, wit Neumann boundary conditions u t x

More information

Let's Learn About Notes

Let's Learn About Notes 2002 Product of Australia Contents Let's Learn About Notes by Beatrice Wilder Seet Seet 2 Seet 3 Seet 4 Seet 5 Seet 6 Seet 7 Seet 8 Seet 9 Seet 0 Seet Seet 2 Seet 3 Basic Information About Notes Lines

More information

What is Advanced Corporate Finance? What is finance? What is Corporate Finance? Deciding how to optimally manage a firm s assets and liabilities.

What is Advanced Corporate Finance? What is finance? What is Corporate Finance? Deciding how to optimally manage a firm s assets and liabilities. Wat is? Spring 2008 Note: Slides are on te web Wat is finance? Deciding ow to optimally manage a firm s assets and liabilities. Managing te costs and benefits associated wit te timing of cas in- and outflows

More information

Characterization of researchers in condensed matter physics using simple quantity based on h -index. M. A. Pustovoit

Characterization of researchers in condensed matter physics using simple quantity based on h -index. M. A. Pustovoit Caracterization of researcers in condensed matter pysics using simple quantity based on -index M. A. Pustovoit Petersburg Nuclear Pysics Institute, Gatcina Leningrad district 188300 Russia Analysis of

More information

Derivatives Math 120 Calculus I D Joyce, Fall 2013

Derivatives Math 120 Calculus I D Joyce, Fall 2013 Derivatives Mat 20 Calculus I D Joyce, Fall 203 Since we ave a good understanding of its, we can develop derivatives very quickly. Recall tat we defined te derivative f x of a function f at x to be te

More information

A New Hybrid Meta-heuristic Approach for Stratified Sampling

A New Hybrid Meta-heuristic Approach for Stratified Sampling A New Hybrid Meta-euristic Approac for Stratified Sampling Timur KESKİNTÜRK 1, Sultan KUZU 2, Baadır F. YILDIRIM 3 1 Scool of Business, İstanbul University, İstanbul, Turkey 2 Scool of Business, İstanbul

More information

Research on the Anti-perspective Correction Algorithm of QR Barcode

Research on the Anti-perspective Correction Algorithm of QR Barcode Researc on te Anti-perspective Correction Algoritm of QR Barcode Jianua Li, Yi-Wen Wang, YiJun Wang,Yi Cen, Guoceng Wang Key Laboratory of Electronic Tin Films and Integrated Devices University of Electronic

More information

DEPARTMENT OF ECONOMICS HOUSEHOLD DEBT AND FINANCIAL ASSETS: EVIDENCE FROM GREAT BRITAIN, GERMANY AND THE UNITED STATES

DEPARTMENT OF ECONOMICS HOUSEHOLD DEBT AND FINANCIAL ASSETS: EVIDENCE FROM GREAT BRITAIN, GERMANY AND THE UNITED STATES DEPARTMENT OF ECONOMICS HOUSEHOLD DEBT AND FINANCIAL ASSETS: EVIDENCE FROM GREAT BRITAIN, GERMANY AND THE UNITED STATES Sara Brown, University of Leicester, UK Karl Taylor, University of Leicester, UK

More information

Optimized Data Indexing Algorithms for OLAP Systems

Optimized Data Indexing Algorithms for OLAP Systems Database Systems Journal vol. I, no. 2/200 7 Optimized Data Indexing Algoritms for OLAP Systems Lucian BORNAZ Faculty of Cybernetics, Statistics and Economic Informatics Academy of Economic Studies, Bucarest

More information

Note nine: Linear programming CSE 101. 1 Linear constraints and objective functions. 1.1 Introductory example. Copyright c Sanjoy Dasgupta 1

Note nine: Linear programming CSE 101. 1 Linear constraints and objective functions. 1.1 Introductory example. Copyright c Sanjoy Dasgupta 1 Copyrigt c Sanjoy Dasgupta Figure. (a) Te feasible region for a linear program wit two variables (see tet for details). (b) Contour lines of te objective function: for different values of (profit). Te

More information

The differential amplifier

The differential amplifier DiffAmp.doc 1 Te differential amplifier Te emitter coupled differential amplifier output is V o = A d V d + A c V C Were V d = V 1 V 2 and V C = (V 1 + V 2 ) / 2 In te ideal differential amplifier A c

More information

f(a + h) f(a) f (a) = lim

f(a + h) f(a) f (a) = lim Lecture 7 : Derivative AS a Function In te previous section we defined te derivative of a function f at a number a (wen te function f is defined in an open interval containing a) to be f (a) 0 f(a + )

More information

A FLOW NETWORK ANALYSIS OF A LIQUID COOLING SYSTEM THAT INCORPORATES MICROCHANNEL HEAT SINKS

A FLOW NETWORK ANALYSIS OF A LIQUID COOLING SYSTEM THAT INCORPORATES MICROCHANNEL HEAT SINKS A FLOW NETWORK ANALYSIS OF A LIQUID COOLING SYSTEM THAT INCORPORATES MICROCHANNEL HEAT SINKS Amir Radmer and Suas V. Patankar Innovative Researc, Inc. 3025 Harbor Lane Nort, Suite 300 Plymout, MN 55447

More information

EVALUATE TxDOT CHIP SEAL BINDER PERFORMANCE USING PAVEMENT MANAGEMENT INFORMATION SYSTEM AND FIELD MEASUREMENT DATA SAN ANTONIO DISTRICT

EVALUATE TxDOT CHIP SEAL BINDER PERFORMANCE USING PAVEMENT MANAGEMENT INFORMATION SYSTEM AND FIELD MEASUREMENT DATA SAN ANTONIO DISTRICT EVALUATE TxDOT CHIP SEAL BINDER PERFORMANCE USING PAVEMENT MANAGEMENT INFORMATION SYSTEM AND FIELD MEASUREMENT DATA SAN ANTONIO DISTRICT Interim Researc Report #3 Prepared by: Douglas D. Gransberg, P.D.,

More information

Strategic trading and welfare in a dynamic market. Dimitri Vayanos

Strategic trading and welfare in a dynamic market. Dimitri Vayanos LSE Researc Online Article (refereed) Strategic trading and welfare in a dynamic market Dimitri Vayanos LSE as developed LSE Researc Online so tat users may access researc output of te Scool. Copyrigt

More information

2.28 EDGE Program. Introduction

2.28 EDGE Program. Introduction Introduction Te Economic Diversification and Growt Enterprises Act became effective on 1 January 1995. Te creation of tis Act was to encourage new businesses to start or expand in Newfoundland and Labrador.

More information

An Interest Rate Model

An Interest Rate Model An Interest Rate Model Concepts and Buzzwords Building Price Tree from Rate Tree Lognormal Interest Rate Model Nonnegativity Volatility and te Level Effect Readings Tuckman, capters 11 and 12. Lognormal

More information

INCOME PER BED AS A DETERMINANT OF HOSPITAL S FINANCIAL LIQUIDITY

INCOME PER BED AS A DETERMINANT OF HOSPITAL S FINANCIAL LIQUIDITY problems 124 INCOME PER BED AS A DETERMINANT OF HOSPITAL S FINANCIAL LIQUIDITY Agnieszka Bem Wroclaw University of Economics, Wrocław, Poland E-mail: agnieszka.bem@ue.wroc.pl Paulina Ucieklak-Jeż Jan Dlugosz

More information

Macroeconomic conditions influence consumers attitudes,

Macroeconomic conditions influence consumers attitudes, Yu Ma, Kusum L. Ailawadi, Dines K. Gauri, & Druv Grewal An Empirical Investigation of te Impact of Gasoline Prices on Grocery Sopping Beavior Te autors empirically examine te effect of gas prices on grocery

More information

An inquiry into the multiplier process in IS-LM model

An inquiry into the multiplier process in IS-LM model An inquiry into te multiplier process in IS-LM model Autor: Li ziran Address: Li ziran, Room 409, Building 38#, Peing University, Beijing 00.87,PRC. Pone: (86) 00-62763074 Internet Address: jefferson@water.pu.edu.cn

More information

A strong credit score can help you score a lower rate on a mortgage

A strong credit score can help you score a lower rate on a mortgage NET GAIN Scoring points for your financial future AS SEEN IN USA TODAY S MONEY SECTION, JULY 3, 2007 A strong credit score can elp you score a lower rate on a mortgage By Sandra Block Sales of existing

More information

Distributed and Centralized Bypass Architectures Compared. E. Guidotti - AC Power Product Manager A. Ferro - Key Account Manager

Distributed and Centralized Bypass Architectures Compared. E. Guidotti - AC Power Product Manager A. Ferro - Key Account Manager Distributed and Centralized Bypass Arcitectures Compared E. Guidotti - AC Power Product Manager A. Ferro - Key Account Manager Contents Executive Summary 3 Distributed / Centralized - System description

More information

The EOQ Inventory Formula

The EOQ Inventory Formula Te EOQ Inventory Formula James M. Cargal Matematics Department Troy University Montgomery Campus A basic problem for businesses and manufacturers is, wen ordering supplies, to determine wat quantity of

More information

Systemic financial risk: agent based models to understand the leverage cycle on national scales and its consequences

Systemic financial risk: agent based models to understand the leverage cycle on national scales and its consequences IFP/WKP/FGS(2011)1 MULTI-DISCIPLINARY ISSUES INTERNATIONAL FUTURES PROGRAMME OECD/IFP Project on Future Global Socks Systemic financial risk: agent based models to understand te leverage cycle on national

More information

Working Capital 2013 UK plc s unproductive 69 billion

Working Capital 2013 UK plc s unproductive 69 billion 2013 Executive summary 2. Te level of excess working capital increased 3. UK sectors acieve a mixed performance 4. Size matters in te supply cain 6. Not all companies are overflowing wit cas 8. Excess

More information

Comparison between two approaches to overload control in a Real Server: local or hybrid solutions?

Comparison between two approaches to overload control in a Real Server: local or hybrid solutions? Comparison between two approaces to overload control in a Real Server: local or ybrid solutions? S. Montagna and M. Pignolo Researc and Development Italtel S.p.A. Settimo Milanese, ITALY Abstract Tis wor

More information

ME422 Mechanical Control Systems Modeling Fluid Systems

ME422 Mechanical Control Systems Modeling Fluid Systems Cal Poly San Luis Obispo Mecanical Engineering ME422 Mecanical Control Systems Modeling Fluid Systems Owen/Ridgely, last update Mar 2003 Te dynamic euations for fluid flow are very similar to te dynamic

More information

SAT Subject Math Level 1 Facts & Formulas

SAT Subject Math Level 1 Facts & Formulas Numbers, Sequences, Factors Integers:..., -3, -2, -1, 0, 1, 2, 3,... Reals: integers plus fractions, decimals, and irrationals ( 2, 3, π, etc.) Order Of Operations: Aritmetic Sequences: PEMDAS (Parenteses

More information

The Derivative. Not for Sale

The Derivative. Not for Sale 3 Te Te Derivative 3. Limits 3. Continuity 3.3 Rates of Cange 3. Definition of te Derivative 3.5 Grapical Differentiation Capter 3 Review Etended Application: A Model for Drugs Administered Intravenously

More information

Background Facts on Economic Statistics

Background Facts on Economic Statistics Background Facts on Economic Statistics 2003:3 SAMU Te system for co-ordination of frame populations and samples from te Business Register at Statistics Sweden epartment of Economic Statistics Te series

More information

A Low-Temperature Creep Experiment Using Common Solder

A Low-Temperature Creep Experiment Using Common Solder A Low-Temperature Creep Experiment Using Common Solder L. Roy Bunnell, Materials Science Teacer Soutridge Hig Scool Kennewick, WA 99338 roy.bunnell@ksd.org Copyrigt: Edmonds Community College 2009 Abstract:

More information

Lecture 10: What is a Function, definition, piecewise defined functions, difference quotient, domain of a function

Lecture 10: What is a Function, definition, piecewise defined functions, difference quotient, domain of a function Lecture 10: Wat is a Function, definition, piecewise defined functions, difference quotient, domain of a function A function arises wen one quantity depends on anoter. Many everyday relationsips between

More information

Module 2. The Science of Surface and Ground Water. Version 2 CE IIT, Kharagpur

Module 2. The Science of Surface and Ground Water. Version 2 CE IIT, Kharagpur Module Te Science of Surface and Ground Water Version CE IIT, Karagpur Lesson 6 Principles of Ground Water Flow Version CE IIT, Karagpur Instructional Objectives On completion of te lesson, te student

More information

Vulnerability and Poverty in Bangladesh *

Vulnerability and Poverty in Bangladesh * ASARC Working Paper 2009/02 Vulnerability and Poverty in Banglades * Md. Safiul Azam Economics, Scool of Social Sciences, University of Mancester, UK & Katsusi S. Imai Economics, Scool of Social Sciences,

More information

P.4 Rational Expressions

P.4 Rational Expressions 7_0P04.qp /7/06 9:4 AM Page 7 Section P.4 Rational Epressions 7 P.4 Rational Epressions Domain of an Algebraic Epression Te set of real numbers for wic an algebraic epression is defined is te domain of

More information

Pressure. Pressure. Atmospheric pressure. Conceptual example 1: Blood pressure. Pressure is force per unit area:

Pressure. Pressure. Atmospheric pressure. Conceptual example 1: Blood pressure. Pressure is force per unit area: Pressure Pressure is force per unit area: F P = A Pressure Te direction of te force exerted on an object by a fluid is toward te object and perpendicular to its surface. At a microscopic level, te force

More information

2.13 Solid Waste Management. Introduction. Scope and Objectives. Conclusions

2.13 Solid Waste Management. Introduction. Scope and Objectives. Conclusions Introduction Te planning and delivery of waste management in Newfoundland and Labrador is te direct responsibility of municipalities and communities. Te Province olds overall responsibility for te development

More information

The Derivative as a Function

The Derivative as a Function Section 2.2 Te Derivative as a Function 200 Kiryl Tsiscanka Te Derivative as a Function DEFINITION: Te derivative of a function f at a number a, denoted by f (a), is if tis limit exists. f (a) f(a+) f(a)

More information

A Model of Generic Drug Shortages: Supply Disruptions, Demand Substitution, and Price Control

A Model of Generic Drug Shortages: Supply Disruptions, Demand Substitution, and Price Control A Model of Generic Drug Sortages: Supply Disruptions, Demand Substitution, and Price Control Sang-Hyun Kim, Fiona Scott Morton Yale Scool of Management, Yale University, 165 Witney Avenue, New Haven, CT

More information

Pioneer Fund Story. Searching for Value Today and Tomorrow. Pioneer Funds Equities

Pioneer Fund Story. Searching for Value Today and Tomorrow. Pioneer Funds Equities Pioneer Fund Story Searcing for Value Today and Tomorrow Pioneer Funds Equities Pioneer Fund A Cornerstone of Financial Foundations Since 1928 Te fund s relatively cautious stance as kept it competitive

More information

THE ROLE OF LABOUR DEMAND ELASTICITIES IN TAX INCIDENCE ANALYSIS WITH HETEROGENEOUS LABOUR

THE ROLE OF LABOUR DEMAND ELASTICITIES IN TAX INCIDENCE ANALYSIS WITH HETEROGENEOUS LABOUR THE ROLE OF LABOUR DEMAND ELASTICITIES IN TAX INCIDENCE ANALYSIS WITH HETEROGENEOUS LABOUR Kesab Battarai 1,a and 1, a,b,c Jon Walley a Department of Economics, University of Warwick, Coventry, CV4 7AL,

More information

THE NEISS SAMPLE (DESIGN AND IMPLEMENTATION) 1997 to Present. Prepared for public release by:

THE NEISS SAMPLE (DESIGN AND IMPLEMENTATION) 1997 to Present. Prepared for public release by: THE NEISS SAMPLE (DESIGN AND IMPLEMENTATION) 1997 to Present Prepared for public release by: Tom Scroeder Kimberly Ault Division of Hazard and Injury Data Systems U.S. Consumer Product Safety Commission

More information

A system to monitor the quality of automated coding of textual answers to open questions

A system to monitor the quality of automated coding of textual answers to open questions Researc in Official Statistics Number 2/2001 A system to monitor te quality of automated coding of textual answers to open questions Stefania Maccia * and Marcello D Orazio ** Italian National Statistical

More information

Differential Calculus: Differentiation (First Principles, Rules) and Sketching Graphs (Grade 12)

Differential Calculus: Differentiation (First Principles, Rules) and Sketching Graphs (Grade 12) OpenStax-CNX moule: m39313 1 Differential Calculus: Differentiation (First Principles, Rules) an Sketcing Graps (Grae 12) Free Hig Scool Science Texts Project Tis work is prouce by OpenStax-CNX an license

More information

Computer Vision System for Tracking Players in Sports Games

Computer Vision System for Tracking Players in Sports Games Computer Vision System for Tracking Players in Sports Games Abstract Janez Perš, Stanislav Kovacic Faculty of Electrical Engineering, University of Lublana Tržaška 5, 000 Lublana anez.pers@kiss.uni-l.si,

More information

Is Gravity an Entropic Force?

Is Gravity an Entropic Force? Is Gravity an Entropic Force? San Gao Unit for HPS & Centre for Time, SOPHI, University of Sydney, Sydney, NSW 006, Australia; E-Mail: sgao7319@uni.sydney.edu.au Abstract: Te remarkable connections between

More information

Theoretical calculation of the heat capacity

Theoretical calculation of the heat capacity eoretical calculation of te eat capacity Principle of equipartition of energy Heat capacity of ideal and real gases Heat capacity of solids: Dulong-Petit, Einstein, Debye models Heat capacity of metals

More information

MATHEMATICS FOR ENGINEERING DIFFERENTIATION TUTORIAL 1 - BASIC DIFFERENTIATION

MATHEMATICS FOR ENGINEERING DIFFERENTIATION TUTORIAL 1 - BASIC DIFFERENTIATION MATHEMATICS FOR ENGINEERING DIFFERENTIATION TUTORIAL 1 - BASIC DIFFERENTIATION Tis tutorial is essential pre-requisite material for anyone stuing mecanical engineering. Tis tutorial uses te principle of

More information

Environmental Policy and Competitiveness: The Porter Hypothesis and the Composition of Capital 1

Environmental Policy and Competitiveness: The Porter Hypothesis and the Composition of Capital 1 Journal of Environmental Economics and Management 7, 65 8 Ž 999. Article ID jeem.998.6, available online at ttp: www.idealibrary.com on Environmental Policy and Competitiveness: Te Porter ypotesis and

More information

Analyzing the Effects of Insuring Health Risks:

Analyzing the Effects of Insuring Health Risks: Analyzing te Effects of Insuring Healt Risks: On te Trade-off between Sort Run Insurance Benefits vs. Long Run Incentive Costs Harold L. Cole University of Pennsylvania and NBER Soojin Kim University of

More information

Notes: Most of the material in this chapter is taken from Young and Freedman, Chap. 12.

Notes: Most of the material in this chapter is taken from Young and Freedman, Chap. 12. Capter 6. Fluid Mecanics Notes: Most of te material in tis capter is taken from Young and Freedman, Cap. 12. 6.1 Fluid Statics Fluids, i.e., substances tat can flow, are te subjects of tis capter. But

More information

Referendum-led Immigration Policy in the Welfare State

Referendum-led Immigration Policy in the Welfare State Referendum-led Immigration Policy in te Welfare State YUJI TAMURA Department of Economics, University of Warwick, UK First version: 12 December 2003 Updated: 16 Marc 2004 Abstract Preferences of eterogeneous

More information

Externalities of Corporate Tax Avoidance. Abstract

Externalities of Corporate Tax Avoidance. Abstract Externalities of Corporate Tax Avoidance Stepanie A. Sikes Te Warton Scool University of Pennsylvania ssikes@warton.upenn.edu Robert E. Verreccia Te Warton Scool University of Pennsylvania verrecc@warton.upenn.edu

More information

Exam 2 Review. . You need to be able to interpret what you get to answer various questions.

Exam 2 Review. . You need to be able to interpret what you get to answer various questions. Exam Review Exam covers 1.6,.1-.3, 1.5, 4.1-4., and 5.1-5.3. You sould know ow to do all te omework problems from tese sections and you sould practice your understanding on several old exams in te exam

More information

Torchmark Corporation 2001 Third Avenue South Birmingham, Alabama 35233 Contact: Joyce Lane 972-569-3627 NYSE Symbol: TMK

Torchmark Corporation 2001 Third Avenue South Birmingham, Alabama 35233 Contact: Joyce Lane 972-569-3627 NYSE Symbol: TMK News Release Torcmark Corporation 2001 Tird Avenue Sout Birmingam, Alabama 35233 Contact: Joyce Lane 972-569-3627 NYSE Symbol: TMK TORCHMARK CORPORATION REPORTS FOURTH QUARTER AND YEAR-END 2004 RESULTS

More information

THE ROLE OF U.S. TRADING IN PRICING INTERNATIONALLY CROSS-LISTED STOCKS

THE ROLE OF U.S. TRADING IN PRICING INTERNATIONALLY CROSS-LISTED STOCKS THE ROLE OF U.S. TRADING IN PRICING INTERNATIONALLY CROSS-LISTED STOCKS by Joacim Grammig a, Micael Melvin b, and Cristian Sclag c Abstract: Tis paper addresses two issues: 1) were does price discovery

More information

2.15 Water Quality Management. Introduction

2.15 Water Quality Management. Introduction Introduction In May 2001, Government released a report entitled Source to Tap - Water Supplies in Newfoundland and Labrador (Source to Tap report). Te report was prepared in response to drinking water

More information

11.2 Instantaneous Rate of Change

11.2 Instantaneous Rate of Change 11. Instantaneous Rate of Cange Question 1: How do you estimate te instantaneous rate of cange? Question : How do you compute te instantaneous rate of cange using a limit? Te average rate of cange is useful

More information