Today is 1 August 2018. Jimmy is 30 years old today and he is considering purchasing 5,000 units of XYZ shares today (XYZ’s current share price is $20). Jimmy will use his own savings to cover 20% of the purchase cost (i.e., $20,000) and he is planning to borrow the remaining 80% of the purchase cost (i.e., $80,000) using a 5-year personal loan (it starts from 1 August 2018) from MQU Bank. Jimmy now has two loan package to choose between
• Package 1.
– Jimmy will make 60 monthly repayments at the beginning of each month over the following five years (from 1 August 2018 to 31 July 2023) with the first payment being made today. This loan needs to be fully repaid by the end of 5 years (i.e., when Jimmy is 35 years old.).
– This package has an annual fee of $200. The package fee is paid on 1 August of each year during the following five years period (from 1 August 2018 to 31 July 2023). The first one being paid today. – The interest rate of this package is j12 = 10% p.a.
• Package 2.
– Jimmy will make 60 monthly repayments at the beginning of each month over the following five years with the first payment being made today. This loan needs to be fully repaid by the end of 5 years (i.e., when Jimmy is 35 years old.).
– Jimmy can have a one year interest-only-period at the beginning of the mortgage. Jimmy’s repayments will be interest-only1 for the first year (i.e., first 12 payments will be interest-only payments), followed by payments of principal plus interest for the following 4 years.
– This package has an annual fee of $400. The package fee is paid on 1 August of each year during the following five year period (from 1 August 2018 to 31 July 2023). The first one being paid today.
– The interest rate of this package is j12 = 12% p.a. Jimmy also plans to sell all the XYZ shares in 5 years’ time (on 1 August 2023). He predicts that the XYZ share price will grow at a rate of y% p.a.
Jimmy assumes that
y = the Australian 10-year Government Bond Yield for 2017 + 10%. (For example, if the XYZ share price is 30 on 1 August 2018 and y is assumed be 15%, the XYZ share price will be 30 from 1 August 2018 to 31 July 2019 and will be 30 × (1 + 15%) from 1 August 2019 to 31 July 2020.) The Australian 10-year Government Bond Yield for 2017 is 2.63.
Jimmy assumes that XYZ shares will pay a dividend on 1 January and 1 July of each year. Jimmy predicts that there are two potential outcomes for the dividend amount.
• Outcome 1: the dividend amount is assumed to be $1 on 1 January 2019 and will increase at a rate of 5% per half-year.
• Outcome 2: the dividend amount is assumed to be $3 on 1 January 2019 and will increase at a rate of 2% per half-year.
NB: Interest-only repayment means your repayments only cover the interest on the amount you have borrowed, during the interest-only period. For example, if you borrow $1,000 through a fiveyear mortgage on 1 July 2018 with a one year interest-only period at j12 = 6% during the first year (1 July 2018–30 June 2019), your monthly repayment is $1, 000×6%/12 = $5 per month. On 1 July 2019, you need to use the remaining four years to repay the borrowed $1,000. The present value on 1 July 2019 of all payments in the remaining four years should be equal to $1,000.
SHOW ALL STEPS AND WORKING ON EXCEL:
– Calculate the loan repayment amount (excluding the annual fee) for each month of package 1 and package 2.
– Use Goal Seek to find the net borrowing cost for package 1 and package 2 by including the annual fee (expressed as a rate p.a. compounded monthly).
– Use a bar or column chart to compare the loan repayment amount of package 1 and package 2 over the five-year loan period.
In: Finance
This is an exercise to design and write a Python program in good programming style for a simulation of stock price over a period of 100 days. In this exercise, you are asked to simulate the stock price starting at $100.00 for 100 days with a daily fluctuation based on the Normal Distribution with mean = 0.0 & sigma = 0.0125. The program will show the daily stock price, the 7-day minimum, the 7-day maximum, the 7-day average, and the 50-day average. The program should also give an indication of "***" when the stock price drops beyond the 50-day average!
Some More Notes & Hints for Assignment #1
Here is the function and codes for simulating the changes in the stock prices:
import random
random.seed(37) # I like to set the random seed at 37!
def fluctuation():
return (random.normalvariate(0.0, 0.0125))
…
StockPrice = 100.0 # StockPrice starts at $100.00
…
for i in range(100):
StockPrice *= (1 + fluctuation()) # Calculate the next StockPrice
Print(StockPrice)
StockHistory = [] # Start with an empty list
…
StockHistory.append(StockPrice) # To append StockPrice to the end of the list
…
If (len(StockHistory) > 50): # If the list contains more than 50 records,
StockHistory.pop(0) # delete the first record which is indexed by zero
…
# Calculate the 50-Day Average here
Sample Run:
Day Price 7DayMin 7DayMax 7DayAve 50DayAve
===========================================================
1 100.430 N/A N/A N/A N/A: 1 record only!
2 102.035 N/A N/A N/A N/A: 2 record only!
3 103.544 N/A N/A N/A N/A: 3 record only!
4 104.005 N/A N/A N/A N/A: 4 record only!
5 104.075 N/A N/A N/A N/A: 5 record only!
6 105.098 N/A N/A N/A N/A: 6 record only!
7 104.307 100.430 105.098 103.356 N/A: 7 record only!
8 105.257 102.035 105.257 104.046 N/A: 8 record only!
9 103.909 103.544 105.257 104.314 N/A: 9 record only!
10 102.860 102.860 105.257 104.216 N/A: 10 record only!
11 104.508 102.860 105.257 104.288 N/A: 11 record only!
12 105.239 102.860 105.257 104.454 N/A: 12 record only!
13 103.018 102.860 105.257 104.157 N/A: 13 record only!
14 101.931 101.931 105.257 103.817 N/A: 14 record only!
15 102.110 101.931 105.239 103.368 N/A: 15 record only!
16 101.724 101.724 105.239 103.056 N/A: 16 record only!
17 104.617 101.724 105.239 103.307 N/A: 17 record only!
18 105.754 101.724 105.754 103.485 N/A: 18 record only!
19 107.406 101.724 107.406 103.794 N/A: 19 record only!
20 107.700 101.724 107.700 104.463 N/A: 20 record only!
21 108.102 101.724 108.102 105.345 N/A: 21 record only!
22 109.072 101.724 109.072 106.339 N/A: 22 record only!
23 107.316 104.617 109.072 107.138 N/A: 23 record only!
24 105.429 105.429 109.072 107.254 N/A: 24 record only!
25 105.558 105.429 109.072 107.226 N/A: 25 record only!
26 105.927 105.429 109.072 107.015 N/A: 26 record only!
27 106.443 105.429 109.072 106.835 N/A: 27 record only!
28 106.460 105.429 109.072 106.601 N/A: 28 record only!
29 106.592 105.429 107.316 106.246 N/A: 29 record only!
30 106.976 105.429 106.976 106.198 N/A: 30 record only!
31 106.377 105.558 106.976 106.333 N/A: 31 record only!
32 107.154 105.927 107.154 106.561 N/A: 32 record only!
33 107.715 106.377 107.715 106.817 N/A: 33 record only!
34 107.870 106.377 107.870 107.021 N/A: 34 record only!
35 108.851 106.377 108.851 107.362 N/A: 35 record only!
36 108.319 106.377 108.851 107.609 N/A: 36 record only!
37 110.846 106.377 110.846 108.162 N/A: 37 record only!
38 110.038 107.154 110.846 108.685 N/A: 38 record only!
39 112.567 107.715 112.567 109.458 N/A: 39 record only!
40 111.409 107.870 112.567 109.986 N/A: 40 record only!
41 111.210 108.319 112.567 110.463 N/A: 41 record only!
42 112.808 108.319 112.808 111.028 N/A: 42 record only!
43 114.457 110.038 114.457 111.905 N/A: 43 record only!
44 112.541 110.038 114.457 112.147 N/A: 44 record only!
45 113.414 111.210 114.457 112.630 N/A: 45 record only!
46 110.535 110.535 114.457 112.339 N/A: 46 record only!
47 113.114 110.535 114.457 112.583 N/A: 47 record only!
48 110.396 110.396 114.457 112.467 N/A: 48 record only!
49 109.363 109.363 114.457 111.974 N/A: 49 record only!
50 108.904 108.904 113.414 111.181 107.106
51 107.142 107.142 113.414 110.410 107.240 ***
52 107.967 107.142 113.114 109.632 107.359
53 109.558 107.142 113.114 109.492 107.479
54 107.356 107.142 110.396 108.669 107.546 ***
55 108.697 107.142 109.558 108.427 107.638
56 106.906 106.906 109.558 108.076 107.675 ***
57 108.727 106.906 109.558 108.050 107.763
58 108.526 106.906 109.558 108.248 107.828
59 106.926 106.906 109.558 108.099 107.889 ***
60 106.773 106.773 108.727 107.702 107.967 ***
61 107.399 106.773 108.727 107.708 108.025 ***
62 106.325 106.325 108.727 107.369 108.046 ***
63 105.409 105.409 108.727 107.155 108.094 ***
64 103.058 103.058 108.526 106.345 108.117 ***
65 104.850 103.058 107.399 105.820 108.172 ***
66 105.534 103.058 107.399 105.621 108.248 ***
67 105.582 103.058 107.399 105.451 108.267 ***
68 105.656 103.058 106.325 105.202 108.265 ***
69 105.801 103.058 105.801 105.127 108.233 ***
70 105.770 103.058 105.801 105.179 108.195 ***
71 106.881 104.850 106.881 105.725 108.170 ***
72 108.815 105.534 108.815 106.291 108.165
73 109.718 105.582 109.718 106.889 108.213
74 109.935 105.656 109.935 107.511 108.303
75 111.708 105.770 111.708 108.376 108.426
76 110.394 105.770 111.708 109.032 108.515
77 110.657 106.881 111.708 109.730 108.600
78 108.628 108.628 111.708 109.979 108.643 ***
79 108.190 108.190 111.708 109.890 108.675 ***
80 107.816 107.816 111.708 109.618 108.692 ***
81 108.890 107.816 111.708 109.469 108.742
82 107.755 107.755 110.657 108.904 108.754 ***
83 107.756 107.755 110.657 108.528 108.755 ***
84 107.046 107.046 108.890 108.012 108.739 ***
85 109.494 107.046 109.494 108.135 108.751
86 108.003 107.046 109.494 108.109 108.745 ***
87 107.984 107.046 109.494 108.133 108.688 ***
88 107.121 107.046 109.494 107.880 108.629 ***
89 108.025 107.046 109.494 107.918 108.539 ***
90 107.489 107.046 109.494 107.880 108.460 ***
91 107.331 107.121 109.494 107.921 108.383 ***
92 110.167 107.121 110.167 108.017 108.330
93 108.463 107.121 110.167 108.083 108.210
94 106.691 106.691 110.167 107.898 108.093 ***
95 103.771 103.771 110.167 107.420 107.900 ***
96 104.179 103.771 110.167 106.870 107.773 ***
97 106.573 103.771 110.167 106.739 107.642 ***
98 108.709 103.771 110.167 106.936 107.608
99 106.547 103.771 108.709 106.419 107.552 ***
100 104.034 103.771 108.709 105.786 107.455 ***
In: Computer Science
What are 3 potential legal issues and 3 solutions that
must be discussed and analyzed in this passage?
A 40-year-old female patient requested examination by a family
physician after she discovered her husband had hidden from her that
he had multiple STDs, including venereal warts, caused by human
papillomavirus (HPV). On the patient’s first visit, a pap smear and
STD tests were performed. The STD tests came back positive for both
HPV and chlamydia. In addition, the pap smear showed cervical
abnormalities.
The patient was referred to a specialist for follow-up care, and a
biopsy confirmed the presence of cervical cancer. Both the
specialist and the family physician reached out to the patient to
discuss the results. Additionally, the family physician reported
the chlamydia result to the local health department.
After ignoring multiple calls and messages, the patient returned
the calls of both physicians and informed them she would treat the
chlamydia but was not interested in pursuing any treatment for the
cancer. Both physicians were highly uncomfortable with this
decision, as the patient was only 40 and the cancer was treatable.
They contacted a local judge to discuss options for making the
patient pursue treatment because they felt the she was making the
wrong decision.
Simultaneously, a medical assistant in the family physician’s
office noticed the patient’s biopsy results come through on the fax
machine. The medical assistant revealed information about the
patient’s condition to some of her friends, all of whom knew the
patient from church. The patient found out that her medical
information had been disclosed when her name ended up on her
church’s prayer list in the weekly bulletin, listing her as
battling cervical cancer.
The patient was eventually able to identify the source of the leak,
and she subsequently filed a HIPAA privacy complaint with the
Office of Civil Rights of the U.S. Department of Health and Human
Services naming the medical assistant and the family physician’s
office.
The family physician’s office learned of the privacy complaint and
promptly sent the patient a letter terminating her from any future
services.
In: Nursing
Spacemakers of America, Inc., hired Jenny Tripplet as its bookkeeper. Pacemakers did not inquire about any prior criminal record or conduct a criminal background check of Triplett. If it had taken those steps, it would have discovered that Triplett was on probation for 13 counts of forgery and had been convicted of theft by deception. All convictions were the result of Triplett forging checks of previous employers.
Spacemakers delegated to Triplett sole responsibility for maintaining the company’s checkbook, reconciling the checkbook with monthly bank statements, and preparing financial reports. Triplett also handled the company’s accounts payable and regularly presented checks do Dennis Rose, the president of Spacemakers, so he could sign them.
Just weeks after starting her job at Spacemakers, Triplett forged Rose’s signature on a check for $3,000 made payable to her husband’s company, Triple M Entertainment Group, which was not a vendor for Spacemakers. By the end of the first full month of employment, Triplett forged 50 more checks totaling approximately $475,000. All checks were drawn against Spacemaker’s bank account at SunTrust Bank. No one except Triplet reviewed the company’s bank statements. Subsequently, a SunTrust employee visuasilly inspected a $30,670 check She became suspicious of the signature and called Rose. The SunTrust employee faxed a copy of the check to Rose, which was made payable to Triple M. Rose knew that Triple M was not one of the company’s vendors, and a Spacamekrs employee reminded Rose that Triplett’s husband owned Triple M. Rose immediately called the police and Triplett was arrested.
Spacemakers sent a letter to SunTrust Bank, demanding that the bank credit $523,106 to its account for the forged checks. The bank refused, contending that Spacemaker’s failure to provide the bank with timely notice of the forgeries barred Spacemaker’s claim. Spacemakers sued SunTrust for negligence and unauthorized payment of forged items. The trial court granted SunTrust’s motion for summary judgment. Pacemakers appealed.
Using IRAC, how should this case have been decided and why? Please, do not copy from google. I need original answer.
In: Operations Management
A Near-Death Experience
I remember everything that happened that day before the surgery was supposed to take place. I remember rolling into the preholding area. I remember telling the anesthesiologist that I was very uncomfortable about the block. He told me not to worry, that he had done it a hundred times. He will tell you now that he has never said that again. In fact, he will tell you that when he saw the list of things I wanted, his immediate reaction was, “She is going to be a pain.” Today, his thinking has changed to, “This is a patient who has some experience and we need to have a conversation before the surgery.” So his practice has changed because of what happened that day.
From the beginning, I had a bad feeling about this surgery. I had signed many consent forms, but this was the first time I had looked at a form and had the word “death” pop out at me. I don’t know why I felt that way, but when I think back I would say to any patient, “If you have a bad feeling, honor that feeling. It does not matter how crazy you feel, honor that bad feeling.”
The last thing I remember is saying goodbye to my husband. Then we went into the preoperative holding area, and that was where they injected the block. The procedure consisted of going in past the blood vessels into the nerve. To do this they have to pull back on the needle; if there is no blood then they are sure they are into the nerve. But when the anesthesiologist pulled back on the needle there was no blood, so he put the medication in, and apparently it went into the blood vessel anyway. What they think happened was that he did not get any blood because it was a broken-down vessel. Bupivacaine is a cardiotoxic drug and within a minute I had a grand mal seizure followed by a full cardiac arrest. They called a cardiac code and started advanced cardiac life support right away, but after 15 minutes I was still unresponsive.
Luckily for me, there just happened to be a doctor there who had experience with this. He knew that the only way to save my life would be to get me onto cardiac bypass right away. Again, things were in my favor that day: there was a cardiac suite already prepared for another patient, with a cardiopulmonary bypass machine primed and ready. They bumped the other patient and within 35 minutes they had opened my chest and had me hooked up to a cardiopulmonary bypass machine so that the medication could be flushed out of my system.
My husband was not even out of the main lobby before I had the cardiac arrest. He got a phone call from the orthopedic surgeon who had stood by in horror watching the whole incident unfold. The surgeon said, “Mr. Kenney, there has been a problem with the anesthesia. We had to crack your wife’s chest; you need to come in.” My husband just dropped the phone and immediately returned. My husband didn’t know where to go, but a woman from admitting recognized him and brought him into a room. He was left alone in a small room until somebody came to get him. I think about that now. Somebody should have been with my husband.
The anesthesiologist and orthopedic surgeon waited for a while before they came to talk to him. As soon as they opened the door my husband physically went after them. He said, “What have you done to my beautiful wife?!” The orthopedic surgeon’s reply was, “It doesn’t look good. We don’t know what the outcome is going to be.”
When I woke up I was on a ventilator in the intensive care unit. No one wanted to talk about what had happened. Someone told me I had had an allergic reaction to the anesthesia. I knew intuitively that was wrong, so right away, as I lay there in the hospital, I felt unsafe and untrusting. That was not a good mental state to be in after what I had been through. My husband did not want to leave my side and did not want anybody near me; I’m sure he was marked by the staff as a difficult family member. I found out years later that they did not ever ask him to leave. They actually changed their practice because they saw that my husband’s voice helped calm me down. I was the first patient to change this practice.
I remember worrying about my children. There was no support for any of my family members. You could see that the staff felt bad for me, but nobody was talking. My orthopedic surgeon could barely look at me. I remember writing a note asking if he had replaced my ankle. He shook his head and looked down. It took me a good week to grasp that my ankle had not been replaced.
I felt abandoned. I had a rewired chest, broken ribs, and I looked as though I had been beaten up. I remember taking that first shower and having somebody wash me because I could not do it and feeling the most vulnerable I had ever felt in my life. I got my chart before I left the hospital and it said right on the front, “Allergy to PENICILLIN and BUPIVACAINE.” That was the route they were going.
Alone at Home
When I left the hospital, I received instructions on caring for my incision and information about a visiting nurse. That was all. I never got a phone call. All I got was a bill. I had had many day surgeries when they would call me the next day and ask how I was doing. This time they almost killed me and I didn’t even get a call.
A week after I got home I received a letter from the anesthesiologist, Dr. van Pelt. I did not know that he had tried to see me several times in the hospital, but that multiple things had stopped that from happening. In the letter he said he was sorry for what had happened and that he believed in open and honest communication. He gave me his home telephone number and cell number. I had no idea that what he was doing was so ahead of the time. My feelings at the time were that this was damage control. I filed the letter, and did not think about it for a long time.
When I got home, Christmas was coming. My kids were all still reacting to what had happened. I was trying to take care of their needs, and I was physically very limited. It was a slow recovery. At the time, I coped by focusing on being thankful to be alive and taking care of my family.
A couple of months later I was feeling better physically. My family and friends thought I had moved on, but I know today that I had not yet processed my emotions. Then, while at a wake for a 14-year-old child, I began to feel guilty. I felt guilty that I got to live and this child had died. It was like the floodgate opened, and every feeling I had been pushing down just came out. I began crying and felt as though I was never going to stop. I remember crying over folding towels. I just felt isolated and alone for months.
I needed a cortisone shot in my right ankle due to severe pain because I had not had the ankle replaced. I made an appointment to see my orthopedic surgeon. I went in and told him that I thought we should talk about what had happened. His entourage left the room and he told me what the day was like for him.
He said, “That day is burned in my memory like the birth of my children, although those were joyful occasions and this was not. Linda, you are a miracle.” By that time everybody was telling me I was a miracle and I did not believe it. He said, “No, Linda, you are a miracle from God,” and he began to cry.
My first reaction was, “What? What are you doing?” But then compassion came over me and I looked at him in a different light. I felt bad for him. It was the first time that anybody had showed me that they cared and that this had had an effect on them, too. As the patient, I needed this. It really made me feel better to see this reaction, but almost at once he stopped the story and would not finish. He got up, walked to the door, and left.
A few days after this meeting I called the hospital to ask if there were other patients I could talk to who had gone through this same thing. I knew I could not be the only one and I needed others to talk to. They never called me back. Months later I called my orthopedic surgeon again and asked whether he thought it would be reasonable for me to invite Dr. van Pelt for coffee. That was when I found out that Dr. van Pelt was no longer in Boston. I felt as though the floor had dropped out from under me. I thought I had missed the opportunity to ever hear the anesthesiologist’s perspective and get closure on our shared event.
Luckily for me, the orthopedic surgeon was very proactive. He reached out to the head of anesthesia department, who contacted Dr. van Pelt. This ultimately led to my phone conversation with Dr. van Pelt, which was wonderful for me because I got to hear how affected he was. I felt as though I finally had gotten to hear the truth from somebody.
I was the first person who had asked him how he was doing. This struck me as so odd. Eventually I met other people who had been on the code team and all they could do was cry. I remember meeting a nursing supervisor who had been taking care of the patient next to me and I told her I often wondered how the other patients going into surgery dealt with seeing this scene unfold right in front of their eyes. She said that for the people who stayed overnight, she went up to see them in their rooms. She took it upon herself to do this all on her own.
I called the hospital and told them that I could not read the writing in the chart, but that I would like to know who everybody was on my code team because I wanted to write them a letter. It was coming up on my 1-year anniversary and I really wanted to thank them for doing their job. I knew that for them it was just their job, but I wanted to articulate how this had affected my family and me and what it meant to us. I never got a phone call back. I have been told that they were just waiting for the lawsuit. The culture at the time was not to speak to anybody involved in a serious adverse event, but I did not know this.
Moving Forward
After a year I wrote a letter to the administration. I said that patients left their facilities all the time after something had gone wrong and asked why we were not supporting them. I offered to help them make the change. I received a letter back a couple of months later. It was very cold and written in legal terms. It made me so angry, I wanted to lash out and hurt them back. I remember thinking, “Now I know why patients sue!”
Then, finally, nearly 2 years after the event, Dr. van Pelt and I met. I was finally able to put a face to the man who was part of an event that had such an impact on my life. We had shared this extremely emotional event and I didn’t even know what he looked like. By this time I had met a number of clinicians and I believed the system had failed us both. I wanted to change that. I remember telling him I wanted to start an organization, although at the time I had no idea what it would look like. MITSS—Medically Induced Trauma Support Services—had a brainstorming brunch in April of 2002, and Dr. van Pelt was one of the many invited guests. This was where we developed the mission of MITSS and ideas for how we would carry it out. Dr. van Pelt was one of the first board members of MITSS.
I was so naïve; I really thought that if I started this organization all the hospitals would send us the people who needed our support. I was so wrong. Three years to the day after my adverse event, I scheduled an appointment with the risk manager of the hospital. I had MITSS brochures and I was going there to see if she would give them to all her patients and family members. I left early, all ready for the meeting, and after I left she called the house canceling the appointment. So can you imagine the look on her face when I showed up? But we have become good friends, and she tells me now that they did not know what to do. They did not know what I wanted. They assumed I wanted something, but all I wanted was to be part of a solution. They could not comprehend that. It has taken years for me to build credibility with this hospital. What struck me was that if we are not acknowledging that these events happen, not doing disclosure or apology, then how can we get to the support piece? It has been a journey. I am now starting to see some progress, but it has been slow.
The institution finally made changes and promised to put our brochures throughout the hospital. But when I would go in, I would find our brochures on the shelves in the closets. Then Dr. van Pelt and I had our pictures on the front page of the Wall Street Journal and suddenly it was a different game. After this publication, I had the opportunity to meet with the hospital, and we were given office space at the hospital. Once I began to learn what the challenges were for the medical community we could look for solutions together, because sometimes they just didn’t see them. They needed the patient’s perspective. It has been a rewarding partnership. I wish people would take the opportunity to embrace their patients when things go wrong because amazing things can happen.
Conclusion
Seven years after the incident described in this chapter, Linda Kenney had her long-postponed ankle replacement surgery. While every effort was made to allay her and her family’s fears before surgery, postoperatively she developed a surgical site infection that required rehospitalization and intravenous vancomycin antibiotics. After more years of acute issues and breakdown in the replaced ankle, Linda finally had the ankle replacement removed and a total ankle fusion in 2014. Her nonprofit organization, MITSS, has continued to grow during this time. It is now entirely consumer-led and is a leading source of information on supporting patients and healthcare professionals following medical harm.
Questions
1. How much of a problem do you believe the policy of not disclosing errors to patients might be? Can you envision circumstances in which this would create ongoing problems for patients and their families?
2. What adverse effects have you seen on clinicians who were involved in a medical error? What do you think could be done to alleviate these adverse effects?
3. Research some of the full-disclosure programs that have been developed and discuss their major components. What barriers do you see to provider disclosure following error? How do full-disclosure programs overcome the barriers to transparency that exist on both sides?
4. Much of this story is a lack of compassion in health care. Do you think there are forces that discourage compassion in day-to-day dealings with patients? If so, how do you think they could be overcome?
5. Which of the core competencies for health professions do you think are most relevant for this case? Why?
In: Nursing
(Tragedy of the Commons) Canterbury is a small pastoral town with a grassy area known as the “commons.” The town’s two farmers may freely graze their cattle on the commons. In the spring each farmer simultaneously and independently buy (identical) cattle for $10 a head. The farmers must send their cattle to the commons during the spring and summer to feed and fatten them up. At the end of summer the cattle are sold at the market price of $1 per hundred pounds. (The farmers are price-takers in the larger cattle market.) The problem is that the commons is a small area that can only feed so many cattle before the grazing becomes poor. To capture this idea, let Q be the total number of cattle sent to the commons. The total weight (in hundreds of pounds) of all the cattle at the end of the season is given by W(Q) = 100Q − 10Q^2 , so that weight of a single cow is W(Q)/Q = 100 − 10Q. Let qi be the number of cattle farmer i buys in the spring and sends to the commons. Assume that a farmer can send a “fractional” cow so that qi can be any number greater than or equal to zero. (You can think of this as the farmer sending the cow to the commons for only a fraction of the season.) Naturally, Q = q1 + q2. Thus, the payoff functions are u1(q1, q2) = (100 − 10q1 − 10q2) q1 − 10q1 and u2(q1, q2) = (100 − 10q1 − 10q2) q2 − 10q2.
(a) Write the game in normal form.
(b) Find farmer 1 and 2’s best response function. It’ll help to notice that the game is symmetric.
(c) Find the Nash equilibrium number of cattle each farmer sends to the commons (i.e., head of cattle purchased): (q*1 , q^2 ).
(d) Show that the equilibrium is inefficient because too many cattle are sent to the commons in equilibrium. That is, show that q*1 + q*2 exceeds the quantity that would maximize the joint payoff. (The joint payoff is (100Q − 10Q^2)− 10Q = 90Q − 10Q^2 .)
(e) What is the intution behind part (d)? Can you think of other contexts, possibly including ones we covered in class, to which the same type of analysis applies? That is, where there is "too much" of an activity in equilibrium
In: Economics
Question: Describe the various methods of solving linear systems. With which method of solving linear systems are you most comfortable, and why?
Hint: First, define a linear system, and give an example. Then, discuss the methods, and show the steps to solve your example. Finally, talk about advantages and drawbacks of each method.
"Real-Life" Relationship: Any relationship where we have a fixed cost and variable cost can be represented by a linear equation.
For instance, the cost of a rental car from Hertz might be $100 plus $0.70 per mile, while Enterprise might charge $80 plus $0.80 per mile. We can solve the following system to find out when the cost is the same (c = cost, m = miles driven)
c = 0.7m + 100 (Hertz)
c = 0.8m + 80 (Enterprise)
It turns out that they are equal when the mileage is m = 200.
Challenge 1: Given two lines in standard form, how can you quickly decide if they have the same slope, simply by using ratios of y and x coefficients?
Challenge 2: What is a quick way (without finding the slope or solving for y) to decide whether the following system has a solution?
2x + 3y = 4
2x + 3y = 5
In: Math
The production of ethylbenzene, a very popular industrial chemical, is carried out reacting benzene with ethylene in liquid phase. This reaction takes place in a series of reactors that involve multiple side reactions and intermediates. Ethylene, being the limiting reactant, is used up first and hence a considerable amount of benzene remains unreacted. From one of the reactors in the series, the exit stream is a mixture of this unreacted benzene (1), an intermediate – toluene (2), and the product ethyl benzene (3).
It is desirable to separate this liquid mixture before sending the components to the next series of reactors/process steps. So 100 mol/min of this mixture is flashed from 200 mm Hg and 50 °C to 100 mm Hg. If the mole fraction of benzene and toluene are 40% each when the mixture enters the flash distillation unit, determine if the mixture will flash completely, partially, or not at all. Assume ideal gas and ideal solution behavior for the vapor phase and liquid phase, respectively. If the mixture does flash partially, determine the composition and molar flow rates of the equilibrium streams exiting the reactor. Show all calculations by hand using your preferred method for solving simultaneous equations. Alternatively, you may use Solver (Excel) but this must be accompanied by a printout of a neatly formatted Excel sheet showing your equations and constraints.
In: Chemistry
Future Value of an Annuity
Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.) Do not round intermediate calculations. Round your answers to the nearest cent.
$200 per year for 10 years at 8%.
$
$100 per year for 5 years at 4%.
$
$200 per year for 5 years at 0%.
$
Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.
Future value of $200 per year for 10 years at 8%: $
Future value of $100 per year for 5 years at 4%: $
Future value of $200 per year for 5 years at 0%: $
In: Accounting
C++
Download the attached program and complete the functions. (Refer to comments)
main.cpp ~
#include
#include
#define END_OF_LIST -999
using namespace std;
/*
*
*/
int exercise_1() {
int x = 100;
int *ptr;
// Assign the pointer variable, ptr, to the address of x. Then print out
// the 'value' of x and the 'address' of x. (See Program 10-2)
return 0;
}
int exercise_2() {
int x = 100;
int *ptr;
// Assign ptr to the address of x. Then use indirection to print out the
// value of x using pointer variable. (See Program 10-3)
return 0;
}
int exercise_3() {
int a[] = {1,2,3,4,5,6,7,8,9};
int *n;
// Print the address of the array a,
// Notice that printing the address of an array is different then printing
// the address of a variable.
// Assign the address of the array to the variable n. Then de-reference n
// to print out the first, third and fifth elements. (See Programs 10-5 and
// 10-6)
return 0;
}
int exercise_4() {
int a[] = {1,2,3,4,5,6,7,8,9};
int *n;
// Assign the address of the array to the variable n. Then use a loop to
// print out each element using a while loop (See Program 10-9)
for (int i=0; i<9; i++) {
cout << "Element " << i << " is " << "... " << endl;
}
return 0;
}
int main() {
exercise_1();
exercise_2();
exercise_3();
exercise_4();
}In: Computer Science