Determining the Concentration of Sulphuric Acid Essay Example for Free

Determining the Concentration of Sulphuric Acid Essay I am going to plan an experiment to determine the accurate concentration of sulphuric acid. It is thought to have the concentration between 0.05 and 0.15 moldm-3. I will be provided with a solid base which is anhydrous (powder) sodium carbonate (Na2CO3). To find the accurate concentration I will titrate the sulphuric acid against the sodium carbonate. The reaction following will take place: Na2CO3 (aq) + H2SO4 (aq) Na 2 SO4 (aq) + CO2 (g) + H2O(l)1 Deciding the Amounts Sulphuric acid has a concentration about 0. 10 moldm-3 (half way between 0.05 and 0.15 moldm-3). I would like to use 25cm3 of sulphuric acid. This is because, it is not a wasteful amount and also it would reduce percentage errors because this is quite a large amount to use. It would be an ideal value to use. Furthermore, I will need to make up a standard solution from the solid base that I have been provided with, which is sodium carbonate. I would again ideally like to use 25cm3 of the standard solution per titre. This is because, the pipettes have the reading of 25cm3, which means the pipette is readily, available for this amount, therefore it is a sensible value. Consequently I will need to make up a standard solution of concentration 0.10moldm-3. This is because of the stoichiometry. The equation shows that for every one mole of sulphuric acid, there is one mole of sodium carbonate. Therefore, the concentration must be the same because the volumes are the same and the number of moles are the same. I estimated the concentration of sulphuric acid to be 0.10 moldm-3 because its halfway between the thought amount of 0.05 and 0.15 moldm-3, therefore the concentration of the standard solution must be the same. Deciding what Indicator to Use I need to use an indicator to see when the end point of the titration occurs, and they are used between acid and alkalis. I have decided on using 2-3 drops of methyl orange indicator fin my experiment per titre. This is because; methyl orange indicator gives an accurate indication of the end point using a strong acid (sulphuric acid) and a weak alkali (sodium carbonate). 2 Making up my Standard Solution As I have mentioned before, I want my standard solution to have the concentration of 0.10 moldm-3. I have chosen my volumetric flask to be 250cm3. This is because these volumetric flasks are readily available. In addition, I am aiming to do approximately five titrations, therefore this amount would allow me to do five titrations and have some to spare. I now need to find out how much sodium carbonate (Na2CO3) is needed to make a standard solution of concentration 0.10 moldm-3. I need to use the equation: Number of moles = concentration (moldm-3) x volume(dm3)3 n = c x v The volume is 250cm3 so I need to divide this by 1000 so that it converts into dm3. Number of moles = 0.10(moldm-3) x 0.25 (dm3) Number of moles = 0.025 moles Therefore, 0.025 moles id required for the standard solution, nevertheless, I now need to convert this into grams by using the equation: Number of moles = Mass (g) / Molar mass(gmol-1)4 Mass (g) = Number of moles x Molar mass(gmol-1) Molar mass for Na2CO3 = (23 x 2) + 12 + (16 x 3) = 106gmol-1 Mass (g) = 0.025 x 106 = 2.65g Therefore, 2.650g of sodium carbonate is required for my standard solution. My experiment The apparatus I am going to use are as follows: * Burette * Conical flask * Volumetric flask * Rubber ball pipette filler * Distilled water * Beakers * Filter funnel * Teat pipette * Tile * Sulphuric acid * Sodium Carbonate * Scales * Spatula * Weighing bottle * Glass rod * Stand * Clamp * Methyl orange indicator Plan of Experiment 1. Prepare apparatus. 2. Weigh a weighing bottle accurately. Using a spatula, transfer 2.650g of sodium carbonate to the weighing bottle and weigh again. 3. Tip the contents of the weighing bottle into a clean 250cm3 beaker and reweigh the empty weighing bottle to find the weight by difference. This way I can work out the actual weight of sodium carbonate that has been transferred. 4. Add 50cm3 of distilled water to the solid and stir using a glass rod until dissolved. Transfer this solution into a volumetric flask using a funnel. Make up the graduation mark with distilled water using a teat pipette to ensure you so not overshoot it. This is now the standard solution. 5. Put a stopper on the flask and invert it about 20 times to make sure all the solution is mixed. 6. Using pipette filler, pipette 25.0cm3 of the solution into a clean conical flask. 7. Clean the burette out with distilled water and then again with sulphuric acid. Attach the burette to the stand, and fill the burette using a funnel with sulphuric acid. 8. Add methyl orange indicator to the conical flash only about 2-3 drops. Put the conical flask onto a white tile so the colour change is easy to see when titrating. 9. Titrate the solution until you reach the end point (when the solution turns orange), and record your results. I am going to use this as a rough titre. 10. Repeat this to obtain concordant results, concordant meaning results that are similar usually results which are in 0.1cm3 of each other. Risk Assessment Chemical Name Form Used Safety Statement Precautions Sulphuric Acid 0.05-0.15 moldm-3 Irritant Wear eye protection and gloves. Wear a lab coat. If spilt on skin dry with a cloth and then wash with water. If spilt dry with cloth and then scrub using water. If it gets it contact with eyes wash them with water thoroughly. 6 Sodium Carbonate Solid and at 0.10 moldm-3 Irritant, but if dust gets in eyes its harmful. Wear safety goggles, gloves and also protective clothing. If in contact with eyes wash quickly with clean water. If spilt on skin wash intensely. If inhaled move to an area of fresh air. If spilt anywhere scoop as much as possible up. 5 Methyl Orange Indicator 2-3 drops Irritant Wear safety goggles, gloves and also protective clothing. If spilt, clean it up using a cloth and water. If gets in contact with skin wash the area thoroughly. If enters eyes wash with clean water. 6 Why my plan will Devise Reliable results My plan will devise reliable result because of many reasons. Firstly I am going to do a rough titre in my plan, which means I will have a rough idea of my titration, so when I do my real results I know when to add it drop wise, so that I wont overshoot the end point. Another reason why I wont overshoot the end point is because I am going to use a white tile so I can judge the end point more accurately. Furthermore, I am only going to add 2 or 3 drops of methyl orange indicator. This will make my results more reliable because the methyl orange indicator is slightly acidic, so it would use up the alkaline solution, therefore by only adding a small amount of it will make my results more reliable and accurate. In addition, I am also going to wash my equipment out thoroughly with distilled water and then with the solution I am going to put that piece of equipment. This will remove any impurities that were originally in the containers so will make my results more reliable. Also, when I am measuring the solution, I will measure accurately by using a pipette to make sure the bottom of the meniscus is on the line to make my results more accurate. Also, when reading the burette I will put a piece of plain paper behind so I can read it more accurately. I will also, remember to take the funnel out of my burette as this could also affect the accuracy of my results. This is because drops are still on the funnel could enter my burette which mean more sulphuric acid affecting my results. This way by removing the funnel, I will achieve accurate results. 7 Finally, I am going to use accurate equipment as possible, which will minimise errors in my results. Overall my results will be very accurate and reliable! References 1. Article on types of chemical reactions, http://www.sky-web.net/science/reaction-types. I used this to help me write my balanced equation for the reaction between sodium carbonate and sulphuric acid. 2. Information on the use of indicators in acid-alkali titrations, salters practical assessment. I used this to decide what indicator to use as it told me what to use if I had a strong acid and weak alkali. 3. Chemical ideas, 2nd edition, chapter 1, section 1.5, concentrations of solutions, published by Heinemann 2000. I used this to get the concentration equation. 4. Power point presentation on moles and concentration, http://moodle.kedst.ac.uk/mod/resource/view.php?id=4556. This helped me find the formulas for concentration and to find out the mass. 5. Safety data sheet, http://www.brunnermond.com/products/sodium_carb. I used this source to find out the safety statement of sodium carbonate and the precautions I will need to take. 6. Hazard cards, numbers 98 and 32, Cleapps 1998 and 2003. I used these to find out the safety statement and also the precaution I will need to take when doing my experiment for methyl orange indicator and sulphuric acid. 7. Skills for Salters as Chemistry, pages 3,4,6,7 and 29, chemistry department, 2007. I used this to see how I will use my equipment and use it accurately, giving me accurate results. Analysis I made up my standard solution by firstly weighing out some sodium carbonate. I weighed the weighing bottle and added approximately 2.65g of sodium carbonate. I then transferred the sodium carbonate to a beaker and reweighed the weighing bottle, so I can therefore work out exactly how much sodium carbonate I transferred. Mass of weighing bottle and sodium carbonate = 57.732g Mass of weighing bottle after transfer of sodium carbonate = 55.052g Consequently the accurate amount of sodium carbonate transferred is the mass of the weighing bottle and the sodium carbonate, minus the mass of the weighing bottle after the transfer which is: 57.932g 55.052g = 2.680g Therefore, 2.680g of sodium carbonate was transferred. Next I added about 50cm3 of water to the beaker and using a glass rod I stirred the solution until the sodium carbonate has dissolved. This was then fully transferred to a volumetric flask and water was added to the 250cm3 graduation mark. I then used a pipette to transfer 25.00cm3 of this standard solution to a conical flask and titrated with the unknown acid. I used 25.00cm3 of the standard solution for each titre after the experiment; I had obtained results for how much acid was added for each titre. The results for how much acid I added for each titre are as follows: 20.10cm3, 19.85cm3 and 20.05cm3. I am now going to work out an average by picking out the concordant results (results which are in 0.10cm3 of each other) and dividing by how many there is. 20.10cm3+ 20.05cm3/2 = 20.075cm3. Therefore, my average titre was 20.075cm3. Concentration of Sodium Carbonate Solution I am now going to calculate the concentration of the sodium carbonate solution: 2.68g of sodium carbonate was dissolved in a 250cm3 volumetric flask using water, so I need to find out how many moles of the substance I used in order to find out the concentration. Therefore I need to use the equation: Number of Moles= Mass (g)/Molar Mass (gmol-1) Molar mass of Na2CO3 = (23 x 2) + 12 + (16 x 3)= 106gmol-1 Number of Moles= 2.680g/ 106gmol-1 Number of Moles= 0.0253moles. Therefore, I used 0.0253 moles in my standard solution. I now need to use the equation to find the concentration: Concentration (moldm-3) = Number of moles/Volume (dm3) I firstly need to convert 250cm3 to dm3 so that my equation works: 1000cm3 = 1dm3 250cm3 = 0.250dm3 (I divided by 1000). Concentration (moldm-3) = 0.0253moles/0.250dm3 Concentration= 0.101moldm-3 Consequently, I have calculated my sodium carbonate standard solution to have a concentration of 0.101moldm-3, rounded to three significant figures. Concentration of acid I am now going to calculate the concentration of the acid solution; therefore I firstly need to find out how many moles there is of the sodium carbonate solution, by using the equation: Concentration of Na2CO3 (moldm-3) x Volume of Na2CO3(dm3) = Number of moles of Na2CO3 0.101moldm-3 x (25/1000) dm3) =0.00253 moles The equation of my reaction is: Na2CO3 (aq) + H2SO4 (aq) Na2SO4 (aq) + CO2 (g) + H2O(l) This equation shows that the molar ratio of sodium carbonate and sulphuric acid is 1:1 which means is there is 0.00253 moles of sodium carbonate there is 0.00253 moles in sulphuric acid. The average titre as shown above was 20.075cm3, which I need to convert to dm3 which is: 20.075cm3/1000 = 0.0201dm3. I can now use the equation Concentration (moldm-3)= Number of moles/Volume (dm3) Concentration (moldm-3)= 0.0253 / 0.0201 Concentration = 0.126moldm-3. Overall, I conclude that the concentration of the acid solution is 0.126moldm-3.

Measuring the Impact of Stress on Physical Health

Measuring the Impact of Stress on Physical Health Psychologists are very interested to understand the many ways in which stress can make us unwell. Before psychologists can get to the point of very significant real-life benefits to be had from understanding this relationship, they need valid and reliable way of measuring stress first. There are two main categories of measurement that has been developed and they are self-report and physiological methods. One psychological measurement of stress is self-report scales and they include the Social Readjustment Rating Scale (SRRS). The Social Readjustment Rating Scale was developed by Thomas Holmes and Richard Rache in 1967 and is a well-known self-report method of measuring life changes that go on in an individuals life. Both Holmes and Rache studied the medical records of patients, picking out the events that occurred in the patients lives not long before they fell ill. Within the SRRS, it presents a list of 43 life changes and each one of the 43 stressful life events was given a Life Change Unit (LCU). Obviously this unit depended on how traumatic the event felt to be by a large sample of participants. The researchers calculated averages for each life event and further divided these numbers by ten. This gave the overall LCU score for each change and these changes were put into rank order from highest to lowest. It was found that if an individual has less than 150 LCU, they have a 30% chance of suffering from stress. Between 150 and 299 LCU, it equates to a 50% chance of suffering from stress, and finally over 300 LCU it means the person has an 80% chance of developing a stress related illness. The downside of this measurement of stress is that it doesnt take individual difference into consideration. The scale just assumes that each stressor affects people the same way but this is not true, for example some people may say that divorce is very stressful however for others it may even be a relief or amicable. The Perceived Stress Scale (PSS) is the most commonly used psychological instrument for assessing the perception of stress. Items were made to assess how overloaded, uncontrollable and unpredictable respondents find their lives to be. Also within the scale, it has a number of direct queries about current levels of stress that the person experiences. The questioned asked in the (PSS) are about thoughts and feelings during the past month. In each case, people completing it are asked how often they felt a certain way. Another psychological measurement of stress is the Hassles and Uplifts Scale (HSUP). It is a self-report measure of the stress associated with everyday irritations known as hassles and of the small pleasures of daily life that are thought to partly offset the negative effects of hassles known as the uplifts. It is a more comfortable way to identify the pros and cons events that happen in each persons daily life. Also, Allen Kanner et al put forward that the combined effects of daily hassles and uplifts would be a more useful indicator of stress therefore he then developed this scale. The HSUP has three different forms: Daily Hassles Scale Daily Uplifts Scale Combined Scale The Daily Hassle Scale consists of 117 items and includes seven categories which are family, friends, work, environment, chance occurrences, health and practical considerations. Examples of hassles include disliking work colleagues, troublesome neighbours and too much responsibility. The scale measures how severe each hassle is on a three-point scale: somewhat, moderately or extremely severe. Based on the severity measure, it will reflect on the fact that the psychological meaning of each hassle to the individual is more important than how often it occurs. On the other hand, the Daily Uplifts Scale was constructed by a similar process that consisted of 135 items that were processed from the same content areas as the Hassles Scale. Examples of uplifts include relating well with friends and meeting responsibilities, liking fellow workers, and getting enough sleep. The individual identifies all of the uplifts that apply, followed by how often they have experienced them over a specific period of time. After many years of research with the Hassles and Uplifts Scale, some limitations were identified and so it was updated by Anita DeLongis et al and became the Hassle and Uplifts Questionnaire. The Skin conductance response (SCR) is a physiological measure of the degree of sweating associated with arousal of the autonomic nervous system. ANS arousal activates the bodys fight or flight response when a stressor occurs. Small increases in sweating can be detected as greater electrical conductance across the skin. To detect sweating, electrodes are attached to the index and middle fingers of one hand. A very small current that cannot be felt is applied to the electrodes in order to measure how much electricity is being conducted. Since human skin is a good conductor of electricity, the more we sweat, the more conductance there will be. There are two types of skin conductance. One is tonic conductance and this is skin conductance when we are not experiencing a stimulus. It is used as a baseline measure against which to compare phasic conductance. This type occurs when something happens like for example when someone asks you a question or we are shown a picture. The whole response can take from four to five seconds. Along with respiration, blood pressure and heart rate, the SCR makes up a polygraph, more commonly known as the lie detector test. Another physiological measurement of stress is by testing the persons blood pressure. Blood pressure is a measure of the force that exerts on the walls of blood vessels. When blood is measured by a sphygmomanometer, two numbers appear like for example 135/85mmHg. The first number, 135, represents the systolic pressure which happens when the heart pushes blood out of the arteries, whereas the second number, 85, represents the diastolic pressure, which is the pressure of the heart at rest. Salivary alpha-amylase is another physiological way of measuring stress. Alpha-amylase is an enzyme thats made under sympathetic innervations and can be collected in the individuals saliva. There is a lot of evidence suggesting that the level of salivary alpha-amylase increases with physiological stress, such as exercise.

Under Pricing of Initial Public Offerings

Under Pricing of Initial Public Offerings Investopedia.com defines initial public offering as the first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the capital to expand, but can also be done by large privately owned companies looking to become publicly traded. In an IPO, the issuer obtains the assistance of an underwriting firm, which helps it determine what type of security to issue (common or preferred), the best offering price and the time to bring it to market.  [1]   IPO INITIATION AND THE PHASES OF IPO TRANSFORMATION: Any IPO goes through the following stages of transformation: The pre-IPO transformation phase can be considered to be a restructuring phase where a company starts the groundwork toward becoming a publicly-traded company. Furthermore, companies should re-examine their organizational processes and policies and make necessary changes to enhance the companys corporate governance and transparency. Most importantly, the company needs to develop an effective growth and business strategy that can persuade potential investors the company is profitable and can become even more profitable. On average, this phase usually takes around two years to complete. The IPO transaction phase usually takes place right before the shares are sold and involves achieving goals that would enhance the optimal initial valuation of the firm. The key issue with this step is to maximize investor confidence and credibility to ensure that the issue will be successful. The intent of these actions is to prove to potential investors that the company is willing to spend a little extra in order to have the IPO handled promptly and correctly. The post-IPO transaction phase involves the execution of the promises and business strategies the company committed to in the preceding stages. The companies should not strive to meet expectations, but rather, beat their expectations  [2]   The marketing process of going public is marked by what is called road show.  road shows involving Issuers and key managers of the company to potential investors via presentations in major cities and face to face with the target investors (Ritter, 1998).  These presentations focus on business operations, products and services, and management.  The visit aims to assess the expected demand for the shares of the company and serves as a key input in the final determination of the initial price of the shares At the end of the road shows, and just prior to the actual first day of trading (usually days before opening day), directors and underwriters will determine the initial offering price.  This is quite important because once the price is determined there is no scope of increasing it even if there is high demand for it. This is how stocks become underpriced. By the close of the first trading day a huge difference can be seen between the actual price and listed price. The concept of under-pricing is dealt with more detail in the following section. THE CONCEPT OF UNDERPRICING Under-pricing is the difference between the initial offered price of the stock and the price at the closing of the first day of trading (Ibbotson, 1975, Ibbotson, Sindelar and Ritter, 1988 Ritter, 1998). This undervaluation is not unusual for companies to commit.   To illustrate, suppose the initial price of a firm issuing 1 million share is $100/share. This would result in a capital of $100 million for the company when all the shares are sold. Now suppose towards the closing of the day, the share is traded at $150. This would mean that the share was underpriced by 50%. This results in an available profit of $50 million for the initial investors. This phenomenon is seen universally across developed and developing countries. This trend of under-pricing can be seen as going against the concept of market efficiency and may cause distress to firms trying to collect capital for expansion. In this regard much research has been done and much literature has also been written. The theory of efficient markets suggests that the price of newly issued shares will quickly adapt to all relevant available information in the market (Fama, 1970) reflect.  However the constant undervaluation has raised questions about what happens when companies go public.  The decision to go public is one of the largest in corporate finance.  Even developed economies like the US, a number of large companies are not public. This shows that going public is not mandatory for a company but it is a choice. However there is a clear disparity between companies choosing to use the stock market and the companies that do not.  A company basically goes public to either diversify their portfolios or to raise capital to invest in future projects. Some other reasons why a company might opt for going public include overcoming debt, change of controls and to enhance opportunity. WHY ARE IPOs UNDERPRICED A LITERATURE REVIEW There are direct and indirect which are borne by the company when an IPO is issued. The indirect cost is the cost associated with information provision to the stock market and the direct costs are the numerous costs which are associated with fees and charges such as the underwriting fees, legal fees and auditing fees etc. However the most important among these and probably which affects the stock price once it is issued is the dilution associated once the shares start to change hands in the public. Often IPOs are found to be underpriced due to this dilution costs. Moreover the IPOs are often subject to the practice of book building. Book building refers to the process of generating, capturing, and recording investor demand for shares during an IPO (or other securities during their issuance process) in order to support efficient price discovery.  [3]  In the event of an issue going public, the issuer always fixes a price band and allows the investor to quote a price within this price band. The upper limit of this price band is the maximum possible price to be paid for the IPO and hence there is a chance that the issue becomes underpriced in case there is excessive demand for the stock. In this the valuation of the stock often reaches an estimate before the stock transacts in the market. As such there is a chance that the stocks get oversubscribed. A peculiar trend can be seen in case of IPOs. The returns are quite high in the initial period. But over a short period of time this return is normalized or completely minimized and the stock star ts to trade at a value close to its actual issue price. Therefore it may be wrong to assume that the stock is actually underpriced at the time of issue. Several factors can affect its high return which can include a bullish market also. Rock (1986) and Baron (1982) explained this under-pricing through their models. Baron assumed that investment bankers /underwriters possess more information on the demand of the security than the issuer. The issuer has to compensate the underwriter for this superior information set. Rock assumed that there are two groups of investors in the IPO market which are categorized as the informed investor and the uninformed investors. Systematic under-pricing is needed so that the uninformed buyers can earn a normal expected return The price formation process for IPOs may be susceptible to the existence of significant conditional price trends in the short-run aftermarket for several reasons: First the market takes time to adjust to the amount of analysis done on the announced issues and this time can extend over several months. There is a great deal of skepticism around the IPOs because of the scarcity of public information available at the time of initial offering. Thus their true value seems highly uncertain to the public. The initial return of the stock is actually the first reaction of the people and goes on to show how the people assess the stock against the initial offering. Second, the first market price may fail to reflect fully all available information because of the potentially fragmented market for IPOs. The issue size of IPOs is typically small and the underwriters, often facing excess demand, ration new issues to their regular clients, who constitute a small subset of potential investors. Initial trading in the aftermarket serves to disseminate information about the value of IPOs to other investors. While initial upward price movement of underpriced IPOs spreads favorable information, the available supply of shares is restricted because underwriters typically discourage initial subscribers from selling their allotments in the aftermarket. Investors who were unable to obtain their full subscriptions at the offering may seek to buy shares in the aftermarket, resulting in a sequence of daily positive returns. In the case of an overpriced issue, the first market price fails to reflect the available information because of price stabilization by the un derwriting syndicate. The under-pricing can be explained with the help of many hypotheses. These are discussed below: The Risk-Averse-Underwriter hypothesis: In order to mitigate the risks and costs of underwriting the underwriters usually knowingly undervalue the stocks. However the investment bankers readily do their homework and they have a fair idea of the actual value of the stock. Therefore this hypothesis only seems meaningful when there is a scope of book building and not when there is a case of fixed price offerings. Since both book building issues and seasoned equity offerings were historically underpriced, one cannot say that the main motive of under-pricing were the investment bankers desire to averse risk. The Monopsony-Power Hypothesis (Ritter, 1984): The investment banker enjoys monopsony power while analyzing common stocks of small firms. They then ration these to the most influential customers who have maintained good relations in the past. Further reasoning by different analyst suggested that this under pricing can also be targeted at earning excess income in the form of commission and fees. (Ritter, 1984) suggested that the gross under pricing might be result of the monopsony power of the investment bankers in underwriting common stocks of small speculative firms. According to Ritter, the investment bankers intentionally under price the securities and ration them to their large customers who regularly buy a variety of investment services from them. The Speculative-Bubble hypothesis: This hypothesis says that one of the reasons for stock price to boom is due to those investors who could not grab a share during the IPO (because of oversubscribing) and those who speculate that the prices of these stocks will rise in the future. This was typical during the IT boom period. The point to wonder is what determines the true value of the stock. The true valuation and the quality of the IPO can be analyzed by the following: Retained Equity Since firms can determine how much equity they will give out at the time of initial public offering. Since this figure can be obtained in advance therefore it serves as the most relevant and the most researched. Since the pre-IPO ownership of firm is determined and very unlikely to change, this becomes an extremely difficult signal to imitate. It must be noted that any change in such information prior to the IPO can dampen the enthusiasm of the investors and might have significant impact on the value of the stock. Underwriter prestige The market value can be significantly changed due to the prestige attached with the underwriter. Those investment bankers who have a good reputation in the market will signal less uncertainty about the performance and offer value of the IPO. The valuations done by these investment bankers will be considered with less speculation But even in the face of a prestigious investment banker doing the valuation, there is significant chance of under-pricing. These underwriters play with two key constituents in the IPO process. The underwriters representing the firm forms the first and the client base for whom the securities are marketed. The first constituent is the firm whose securities the underwriters represent. The second is the client base to whom the underwriters market the IPO securities. Auditor Reputation The price of the IPO can also be influenced by the auditor reputation. The auditors who are deemed as high quality will be judged with very less speculation and the investors will fairly accept the value of IPO set forth. If the auditor fails to reveal potential negative firm information, then the reputation of these high quality auditors may suffer. In some cases shareholders can also file a lawsuit. Number of Risk Factors The prospectus revealed by the issuer also details the risk factors pertaining to the company. The purpose for this is to let the investors assess the fair value of the IPO and the possible opportunity that might exist in investing in this IPO. Firms with more risk factors can be associated with higher uncertainty. Firms with greater numbers of risk factors are associated with higher uncertainty. Firm Size Larger firm size often has greater resources and more opportunity to survive in extreme situations. Thus the firm size also motivates the price of the IPO. Several studies found that there is a negative correlation between underpricing and firm size. This is consistent with the relation between large firm size and more stability. Thus potential investors trust the IPO price to be close to its fair value when large firms are at stake. Moreover the larger firms also are associated with more prestigious underwriters. Firm Age The more the age of the firm will act as a protection from the risk and this is used in valuing the price of the IPO. This is because the younger firms have less number of published financial data and hence the valuations done for these firms are often subject to uncertainty. Moreover these firms are also not analyzed by financial analyst. Firm age and performance are often related. Offer Price One of the responsibilities of the lead investment bank is to assess the pre market demand for its clients prospective IPO in an effort to set a reasonable price. Thus this initial price might also instigate some amount of under-pricing. Also it has to be known that a very modest price will signal less demand and less value or maybe both. The initial price of an IPO offering may also have value as an indicator of underpricing. In the early stages of an IPO, the lead investment bank is responsible for assessing the premarket demand for its clients prospective IPO in an effort to set the offer price. Presumably, a very modest offer price will signal little demand, little value, or both

John Woo: from Hong Kong to Hollywood, The Killer and Face-Off Essay

John Woo: from Hong Kong to Hollywood, The Killer and Face/Off John Woo and his â€Å"heroic bloodshed† have revolutionized and rejuvenated the action genre, combining melodrama with action to create the male melodrama, in which he explores the codes of masculinity while redefining them. Robert Hanke says that â€Å"explosive pyrotechnics seem to be privileged over plot, narrative or character† (Hanke 41) and yet notes that Jillian Sandell maintains the opinion that Woo does not â€Å"celebrate this violence, but rather uses it to represent a nostalgia for a lost code of honor and chivalry† (Hanke 1999: 45). While characterized by violence, Woo’s films define masculinity within a changing world. He does not set out to make violent films, defending A Better Tomorrow by saying â€Å"It’s not a gangster movie. It’s a film about chivalry, about honor, but set in the modern world. I want to teach the new generation: ‘What is friendship? What is brotherhood? What have we lost? What we have to get back.à ¢â‚¬â„¢Ã¢â‚¬  (Logan 1995: 116), a statement that can be applied to both The Killer (1989) and Face/Off (1997). In The Killer, Jeff and Stanley are nostalgic about the past, saying how things have changed. Loss is a literal theme in both movies, as Jeff tries to regain Sally’s sight and in Face/Off Archer has lost his son and seeks to regain a sense of identity and purpose, and ultimately a son. Woo makes his films to fill this lack that he sees in the modern world. He is influenced by many different films and n...

Acid Rain Essay -- Geology

ACID RAIN - DEFINITION Scientists have discovered that air pollution from the burning of fossil fuels is the major cause of acid rain. The main chemicals in air pollution that create acid rain are sulfur dioxide (SO2) and nitrogen oxides (NOx). Acid rain usually forms high in the clouds where sulfur dioxide and nitrogen oxides react with water, oxygen, and oxidants. This mixture forms a mild solution of sulfuric acid and nitric acid. Sunlight increases the rate of most of these reactions. Rainwater, snow, fog, and other forms of precipitation containing those mild solutions of sulfuric and nitric acids fall to earth as acid rain. Acidity is measured using a pH scale, with the number 7 being neutral. Consequently, a substance with a pH value of less than 7 is acidic, while one of a value greater than 7 is basic. Generally, the pH of 5.6 has been used as the baseline in identifying acid rain, although there has been much debate over the acceptance of this value. Interestingly enough, a pH of 5.6 is the pH value of carbon dioxide in equilibrium with distilled water. That means, acid ran is defined as any rainfall that has an acidity level beyond what is expected in non-polluted rainfall. Any precipitation that has a pH value of less than 5.6 is considered to be acid precipitation. The three main sources of acid deposition are: 1. Coal in electricity 2. Base metal smelting 3. Fuel combustion in vehicles This is a small diagram that shows where some of the pollution comes from and where it goes to when it turns into acid rain. .. ...e EcoLogo. They minimize the use of environmentally hazardous substances and maximize energy efficiency and the use of recycled materials. Buy locally produced or grown items from local stores and businesses. They don’t require the transportation energy of imported products. Transportation Walk, ride your bike or take a bus to work. Share a ride with a friend or co-worker. Have your engine tuned at least once every six months. Check your car tire pressure regularly. Use alternative fuels, such as ethanol, propane or natural gas. Avoid unnecessary idling. In the winter, warm your car’s engine with a block heater for two to three hours prior to driving, rather than plugging in the battery overnight. Reduce the number of trips you make in your car. Drive at moderate speeds. Take the train or bus on long trips. Go CFC-Free.

Math Is Not a Language

Mathematics is Not a Language Language can be defined as the following: A medium in which communication occurs. However, there may be many misperceptions that mathematics is a language. One may argue that one can utilize numbers to represent certain letters in the alphabet, for example, a= 1, b = 2, c = 3. It is just using numbers, to represent a language. However, this is not mathematics. Numbers themselves can be a language, however numbers are just symbols. Numbers are not mathematics.Do we use mathematics to communicate? No. This is because mathematics is not a language, it is a process of logical reasoning. Yes, we can use any system of language to communicate the process of logic that mathematicians use. However, mathematics itself is not a method of communication. We can explain how to find the value of â€Å"x† in an equation in Babylonic cuneiform, or in C++, however, one cannot reach the conclusion without the method of inferring the answer, which is mathematics.Do w e use language to find the instantaneous rate of change in a parabolic equation? No. We use a process of logical reasoning called mathematics to solve the problem. We do not use Latin to solve the problem. We do not use Morse code to solve the problem. We can use numbers to solve a problem, however, numbers by themselves are completely meaningless unless mathematics is used to manipulate numbers. We can define language as: A medium in which communication occurs. Or a system of communication.Or a method to communicate one's thoughts or ideas. We can define mathematics as: A procedure of manipulating numeric values to reach a desired conclusion. Or a method of finding answers to a numerical problem using logical reasoning. Or a science of numeric value, quantity, and space. Mathematics is a process, not a medium. Mathematics is a method of reasoning, not a method of communication. Now, perhaps it is clearly understood why mathematics is not a language; only the poetic can state that à ¢â‚¬Å"Mathematics is the language of the universe. â€Å" Test: â€Å"Study Guide Algebra†

Portfolio Tasks Architecture History

Cam McBride History Reflect on your understanding of the concept of ‘history'. Has this changed in the first three weeks of the course? If so, how? If not, how did you come to your present understanding of how history works? Discuss at least two of the following: ‘cultural change'; the ‘Great Men' theory of history; historicism; and historical materialism History is all around us, everywhere; every moment in time can be documented as a piece of history. This does not amount to how small the action was, or how long it took, it is all history.The greater the effect on a race or culture the longer the moment stays with us and is documented through time. This is called Historicism. For example one of the major moments in the last 10 years would be 9/1 1; although this did not affect us directly the amount of information and documentation of this event was vast, branching out to all nations. How long will this moment last in history books; will they remember this moment in 100 years? Will it stand the test of time?Something on a smaller scale may last longer, like inventions; things we still use to this day are a constant reminder of their history and where they came from. All people have a different timeline on history, some will gather information and not find it necessary or important, it hasn't affected them so it is not a major event in history for them. For example; the Christopher earthquake is a huge moment in history for us; it has changed our lives and things will never be the same, but for someone in Denmark, the other side of the world, this is an almost irrelevant happening and a miniscule piece of information.They might have seen a 2-minute clip on the news and this piece of history will not stay with them. Therefore history is our own little inline of importance; although we may have the same events, they occur in different orders and rankings depending on the culture that surrounds you. There may even be a completely different timel ine for someone else. None of it matters because history is what is relevant to you. History is usually confined to one particular moment, giving one-person credit, securing their place in the historic books.This in fact isn't true; not one great man creates history; there is always an underlying history behind history. For example; one great man did not invent the telescope. This is the typical route of invention, one hat takes an idea from an already existing item and develops it, improves it and claims it as their own. This idea is not always true. Inventions had to start somewhere, usually occurring when something is needed to make a task easier. All inventions start somewhere, but very few people create something out of nothing.And the struggle of being the first is always a factor, to keep your development a secret until perfected enough to show to the public, and by then someone else may have beaten you to it. It is not the great man who creates historic moments; it is the im portance, need and reasons for the acts to take place. By Cam McBride Portfolio Task 2 – Cam McBride Ancient Rome Discuss the links between Ancient Rome and the United States of America in terms of at least two of the following: architecture; political organization; ideology; and empire.Ancient Rome is a very solid base in the world of architecture; perfecting concrete, having large structures, and using original techniques developed by themselves. America being America, in my eyes initially took on one of the largest colonies to try and improve their work, be bolder, bigger and better. Ancient Rome used large columns including steps leading upward giving a sense of importance, much like the Greeks. This was seen throughout their government buildings and town centers. America's important buildings are very similar in this way, especially in their political scene.For example the Washington White House includes steps up to columns spread across the front facade. Also including a central dome, which the Romans invented and used often, giving a large open central focus to the building. Architecture is a big part of both cultures and is seen as a dominant force, controlling perspectives of power over the people. America is seen as the most powerful nation in the world currently, as ancient Rome once was; this is perceived and reinforced wrought their style of architecture.Architecture and buildings are constantly changing over time but the base link to Rome is still there, the impression of power is still there, creating large buildings in bare surroundings, statues, and rare materials. This shows the obvious link to Roman architecture that still remains in our cultures, not only in America but all around the world. Another parallel between Roman culture and American culture is the appropriation of services, or political management.Creating a safe environment for the people was essential for the Romans and America have adopted this style of giving private ra ciest power and responsibility of taking care of their own. This in fact meaner that there is no distinction between public and private responsibility, in turn creating corruption amongst the people [ (Spangles, 2011)]. Having private organizations try to solve and maintain many of the public services is a bad idea, things become hazy, overlapping from service to service, this may be a solution for the short term but in the long term, much like the Roman society, the consequences are huge.They may not have an option at this stage but in my eyes, a modern society like America should eve the brains, the money and the manpower to solve issues, unlike Rome. Tasks like collecting taxes, patrolling the streets and borders were once seen as a public task [ (Spangles, 2011) America has changed this and the benefits don't seem to outweigh the negatives, how much time will pass before the public rise up against and destroy a perfectly capable nation, much like Europe is currently experiencing .Portfolio Task 3 – Cam McBride The Medieval World In what ways is this representative of the medieval world-view? The Chartres cathedral, also known, as the ‘Gothic Cathedral' is one of the finest hurries in France, renowned for it's beautiful architecture and is a milestone in the growth of western civilization, the birth of a new era [ (Chartres Cathedral, ND) Very quickly dozens of churches appeared using this style, it became prolific, which suggests that in some ways it was a reflection of the medieval world.The gothic style in general was very innovative and was a strong depiction of the medieval ages. The structure was made to incorporate room for large stained glass windows on the outer walls; achieved by diverting the roof weight toward centre columns, which, in plan IEEE depicted the symbol of Christianity, the cross. Thus heading away from the usual cold dark interiors the churches would posses. The big rose windows are a huge part of the style and helped em phasize the height and structure of the buildings.Pointed towers and slender spires surround the building giving it a very medieval characteristic and again adding the essential height factor. The structure, the decoration and of course the function reveals the understanding of the medieval middle ages [ (University, ND) This building is a representation of the medieval worldview as it was a time when here were huge variations of beliefs, at one end of the scale, rationalism, requiring logical or scientific proof for some to truly believe a statement.On the other end of the scale, the extremists, total rejection of reason and solely relying on faith to get them through [ (Valorous, 2000)]. This wide range of beliefs tore people apart and gave them something to be separated by and argue about. The one thing that did not change was their belief in God. Churches were a place were everyone had common ground, the existence of God was certain, no science was needed to prove it, although m om felt the need to prove their beliefs rationally rather than going on blind faith of what has been said to them.This giving the church a huge significance in the medieval world view as it was the central core to society, no matter how different the views of people were within the society, God remained the same, a higher power that indeed needed to be worshiped and noticed by all. Portfolio Task 4 – Cam McBride Option 2 Using the two readings below, explain what materials and technology were used in ancient Greek architectural design. The vast majority of materials used in ancient Greek architecture were based upon mingle strong and sturdy natural elements.Structural elements such as columns were initially created from timbers, one of the easiest natural materials to gather and reform to a building material. Stone soon began to replace timber, mainly for its structural elements but also, its dependability seemed to suit the perception of their immortal gods that they all wor ship. This was entirely appropriate due to the fact the temples were being built as a representation of the gods (Hemingway, 2003). The switch to stone made a big difference to how the buildings looked.As there was a retreat increase in weight, the columns and support beams had to be closer together, this gave it a more solid, heavy look. This also occurred in the roof pitch. Initially they used lighter roofing materials allowing for a steeper pitch, but the introduction and translation into stone meant they started using a range of terracotta tiles which added a tremendous amount of additional weight, decreasing this pitch vastly [ (Odyssey, Adventures in Archaeology, 2012) Obtaining the stone such as marble and limestone was the biggest task of creating an ancient Greek temple.It was expensive and preparation time was extensive (Peck 2005). In summary I would suggest that it wasn't the most practical building material in some cases, but it was the image it needed to portray, the a rchitecture had to represent strength, power and above all immortality. Large masses of stone were indeed the key to this depiction. The technology used in ancient Greek architecture was hugely advanced by ingenious inventions that aided them in constructing bigger and better structures.Some of the tools the Greeks invented are still used to this day, although they have been developed further, in reality they are the same concept and are used for the name tasks. For example the pulley systems used by their wooden cranes; this creation advanced them immensely, previously using ramps and sleds that took a huge amount of preparation and materials (Peck, 2005). The ancient Greeks, like today, would hire specific workmen to build wooden scaffolding around the workouts.Scaffolding was essential in erecting statues, laying roofing tiles and hoisting stone. These systems became common practice and were notably developed to a stage were they were know for their precision and excellence in wo rkmanship [ (Hemingway, 003) The tools used by early architects are still used on the building site today, squares, plum bobs, levels and hammers were all part of the technological growth they played such a huge part in.The Greeks were leaders in the field of architecture, not only playing a massive role in the development of styles, systems and technology, but portraying the meaning and purpose of a building through the use of scale, materials and placement. All these elements are used today, but in some cases, the ancient Greeks used them more effectively. Works Cited Chartres Cathedral. (ND). The Cathedral of Chartres. Retrieved May 18, 2013, from Chartres Cathedral: http://www. Characteristically. Net/ Hemingway, C. (2003, October). Architecture in Ancient Greece.