CHYS 2P10 Lecture Notes - Lecture 2: Albert Bandura, Carpool, Bird Vocalization

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coffeecaribou13

7 Mar 2016

School

Brock University

Department

Child and Youth Studies

Course

CHYS 2P10

Professor

Anthony Volk

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Document Summary

Chys 2p10 lecture 2 jan 11th. Peer grade will be the class average component. Point form only allowed for debate presentation notes: these debates will also lead to a paper on the topic you debate that includes responses to questions from the class and arguments from your opponent. I expect to see improvements in the paper vs. the debate. Paper formatting is very important in order for it to be universally fair. Nature/nurture: development is a combination of the two, we tend to focus on nurture it is something that we can control. For political and practical reasons, nurture often gets extra credit: nature is embedded in you and unchangeable, but nature can be controlled. We also recognized that there were dangers in such a formulation we knew how politically loaded discussions of inborn differences could become; we knew that the.

Related Questions

As a newly minted CPA, you obtain your first significantposition as a tax professional: senior tax accountant for one ofthe offices of a regional accounting firm. Of course, the firm runsa notice of your hiring in the local newspaper. A few days later,the editor of the newspaper calls you and asks if you might beinterested in writing a monthly column for the newspaper on taxissues. Figuring that it would be a good way to get your name outin the community as an expert in the field (and a little freeadvertising to boot!), you tell him that you would be more thanhappy to do so. "Great! " he says. "By the way, I have alreadyblocked out space for this column in the next edition of the paper.Is there any way that you can get me your article by the end of theday today?" After you commit to doing so, he also proceeds to tellyou that you will not be paid for these articles. "I figure that itis just a sort of public service that you could offer to thecommunity. I am sure you understand." (And so it begins.... Getused to a lot of this.) You spend the next 10 minutes thinkingabout what you could discuss in your first article. You would liketo shake people up a little bit, and perhaps challenge theiropinions about some issues of tax law. That way, you could perhapsbuild up some interest in your column, which, as you know, will bedifficult to achieve under the best of circumstances! (After all,who wants to read newspaper articles about taxes?)

Finally, you decide on a topic: You will argue to the readersthat the federal income tax should be abolished and replaced with anational property tax that is levied on both personal property andreal estate.

Required: Write an article arguing this position. You may or maynot agree with this proposition. However, based on the materialscovered in this course and the discussions that have occurred inthe Discussion areas, you should be able to articulate a cogent,persuasive argument in support of this proposition. In particular,reference theories, concepts, justifications, and anticipatedeconomic, social, and/or other benefits that would result from sucha system. To the extent that you think strong contrary argumentscould be made, consider raising those contrary arguments and thenpersuasively arguing against them. Your answer to this questionwill be evaluated based on the thoroughness, professionalism,substance, and persuasiveness of your argument.

sapphirehound482

Hello, I am respectfully requesting help with the following discussion for Biology 103, UMUC.

I need to respond to the below discussion by applying the following:

Participate individually with meaningful and original comments in the dialogue of the posted discussion questions.

Ensure your posted content is written in your own words. Repetitive (redundant) answers, copied articles or portions of articles from Web sites, books, magazines and so on will not count towards participation

Cite properly and consistently and include all sources used for your responses

Participate in weekly discussions, which require you to actively reflect on weekly readings and to develop original ideas in your responses.

a. You need to make at least one response to the main discussion topics, which should be written in your own words and should be about 100 to 150 words long.
b. At least two value-added comments to the responses made by your classmates.

I choose pollution. Pollution comes in many forms whether its air pollution, water pollution, and land/soil pollution. Air pollution is caused by gases and toxins that come from factories. Water pollution is caused by oil spills or trash that people throw into the water, and soil pollution is caused by industrial waste that affects soil from getting its essential nutrients. All kinds of pollution can be harmful to plants, animals, and humans. Air pollution is the main pollutant in everyday life. Things such as cars, planes, power plants, and other human activities produce air pollution. "Pollution disturbs our ecosystem and the balance in the environment. "Water pollution not only harms the aquatic beings but it also contaminates the entire food chain by severely affecting humans dependent on these. Water-borne diseases like cholera, diarrhoea have also increased in all places." A solution for the pollution would be having a big fine for people that pollute, fix the cars, planes, and power plants to where they don't give off carbon dioxide, and find a way to prevent oil spills into the ocean. Some other solutions for each would be:

Air Pollution:

"Seek advice from environmental professionals when locating exhaust outlet"

"Use smokeless fuel, such as gas and electricity"

"No outdoor cooking, e.g. hotpot & BBQ"

Water Pollution:

"Remove the accumulated bottom sludge regularly"

"Engage registered grease trap waste collector for regular cleaning and overhauling of grease trap"

"Keep an updated drainage plan in management office"

"Check the drainage plan before carrying out of drainage works to ensure correct drainage route

Pollution: Causes and Effects. (2016, December 24). Retrieved December 05, 2017, from https://www.conserve-energy-future.com/pollutiontypes.php

15 Current Environmental Problems That Our World is Facing. (2016, December 24). Retrieved December 05, 2017, from https://www.conserve-energy-future.com/15-current-environmental-problems.php

Pollution Problems & Practical Solutions. (n.d.). Retrieved December 05, 2017, from http://www.epd.gov.hk/epd/english/greenproperty/poll_pro/poll_pro_rec.html

International Research Journal of Applied Finance ISSN 2229 â 6891

Vol. VI Issue â 8 August, 2015 Case Study Series

A Stock Valuation Case: An Application of the âMethod of Comparablesâ for Macyâs Shares

Halil D. Kaya* ,Julia S. Kwok

Abstract

The primary focus of this case is the application of the âMethod of Comparablesâ in the estimation of the value of a security. An investment decision will be made based on the comparison of the selling price and the estimated value. A security will be good for purchase if the estimated value is higher than the market price. This method utilizes basic financial ratios that are commonly provided by financial web sites. First, using Yahoo Finance website, the pricing, sales, book value of equity and shares outstanding data are collected for both the target firm and the competitor firms. Then, the pricing multiples (i.e. price earnings ratio, price to sales ratio and price to book ratio) of the competitors are calculated. After that, those multiples along with the target firmâs earnings, sales, book value and shares outstanding data are used to estimate target firmâs share value. The case also examines the impact of treating ânegativesâ in the data. Students will learn that replacing negative earnings with zeros tend to induce less bias in target firmâs value estimation than excluding the ânegativeâ data altogether.

Introduction

March 14, 2015 was a sunny day. Mary took advantage of the nice weather to have lunch at the Mall. On her way back to work, she walked by Susanâs investment office. Susan was Maryâs college roommate. They both liked shopping together to find new fashionable clothes. Looking at her watch, Mary realized she had half an hour to spend. She thought she would drop by and say hello to Susan.

The Performance of Macyâs

âHi, Susan, how are you?â How is your business?â said Mary. Susan was a recent finance graduate. Susan replied, âI am doing fine. Thank you. After so many years, the market is still recovering from the mortgage crisis; many investors have been buying back stocks that they have sold during the crisis. What are you up to?â âI want to start my investment in securities, too. I have a couple thousand dollars, would Macyâs be a good stock to invest in now? That was our favorite store to shop among all of the department stores,â Mary exclaimed. She added, âAlso, I read from Motleyâs Foolâs article on Macyâs today about its earnings per share growth for the last 16 quartersâ (Zahid Waheed, 2014).

In response to Maryâs questions, Susan checked the monthly adjusted returns of Macyâs in Yahoo Finance. She found that, since March 2010, Macyâs stock price had an average annual increase of 23.5% over the last 5 years. The stock rose from $19.98 to $57.38. Susan then told Mary that Macyâs was indeed a growing stock. She added that its success could be attributed to the omni-channel integration, e-commerce and magic selling strategies which allowed merging of sales channels, online shopping and better customer care. Since investment strategy 101 is to buy low, and sell high, given Macyâs stock price had been going up, Susan was not sure whether Macyâs was currently overvalued or undervalued by the market.

The Method of Comparables

Susan remembered her class lecture on the two types of valuation of stocks, namely absolute and relative evaluation. The absolute evaluation focuses on finding the intrinsic value of the security based on fundamentals. That involves more complicated models of discounting cash flows from dividends, operations and residual income.

On the other hand, relative evaluation is quick and easy to use. It assumes two similar securities should sell for one price in an efficient market, i.e. âLaw of One Price.â So an analyst can estimate its stock price by multiplying target companyâs specific earnings, sales and equity value data by the earning, sales and equity âper shareâ financial multiples of its competitors.

Since Mary was not familiarized with financial models, Susan decided to use the easy-toperform-and-analyze âComparables Methodâ to estimate the relative value of Macyâs stock.

The Financial Data

Dillards, JC Penney and Nordstrom were selected as competitors of Macyâs as they were all in retail department store business. Susan would need some financial data regarding these companies. She went to SECâs (i.e. Securities and Exchange Commission) website and downloaded these companiesâ most recent balance sheet and income statement data. Out of those statements, she knew that she would need the EPS (i.e. earnings per share), the sales number, the number of outstanding shares, and the book value of equity. She also knew that she would need the current share price for each company. After some work, she had found all the necessary information to run the analysis. Below were the data that she had gathered:

All data are in US$ except for the number of outstanding shares. The share price as of March 15, 2014 is shown in the first column. The âEarnings per shareâ is shown in the second column. The third column reports the book value of equity. The last column shows the number of outstanding shares.

Firm	P ($)	EPS ($)	Sales ($)	BV of equity ($)	# of shares
Macy's	58.58	3.93	27,931 mil.	6,249 mil.	378.3 mil.
Dillard's	90.61	7.10	6,532 mil.	1,992 mil.	45.6 mil.
JC Penney	8.71	-5.57	11,859 mil.	3,087 mil.	249.3 mil.
Nordstrom	61.33	3.77	12,166 mil.	2,080 mil.	194.5 mil.

The Decision

Susan thinks that the following steps would be necessary to perform the analysis:

1.Based on the data above, calculate Sales per share, BV of equity/share values of all firms. Note that EPS is directly given.

2.Calculate P/E, P/Sales, and P/B for all of Macyâs competitors based on the data obtained.

3.Find the average of the P/E, P/Sales, and P/B multiples for the three competitors.

4.Multiply those averages calculated in step 3 with Macyâs EPS, Sales per share, and BV of equity/share values, respectively to get three value estimates for Macyâs shares.

5.The average of the three estimates would then be Susanâs best estimate of Macyâs value per share.

answer # 1-5 please

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CHYS 2P10 Lecture Notes - Lecture 2: Albert Bandura, Carpool, Bird Vocalization

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