Understanding Quantitative Analysis in Chemistry

Quantitative analysis refers to the determination of how much of a given component is present in a sample. The quantity may be expressed in terms of mass, concentration, or relative abundance of one or all components of a sample. Here are a few sample results of quantitative analysis: Ore contains 42.88% silver by mass.The chemical reaction yielded 3.22 moles of product.The solution is 0.102 M NaCl. Quantitative Versus Qualitative Analysis Qualitative analysis tells what is in a sample, while quantitative analysis is used to tell how much is in a sample. The two types of analysis are often used together and are considered examples of analytical chemistry. Methods Used in Quantitative Analysis Several methods are used to quantify a sample. These may be broadly classified as either physical  or chemical methods. Physical methods measure a physical property, such as adsorption of light, density, and magnetic susceptibility. Examples of physical methods include: Fourier Transform Infrared Spectroscopy (FTIR)Atomic Emission Spectroscopy (AES)Energy Dispersive X-ray Spectroscopy (EDS)trace element analysisx-ray fluorescence spectroscopyICP-AESICP-MS Chemical methods involve chemical reactions, such as oxidation, precipitation, or neutralization to form a new chemical compound. Examples of chemical methods include: Titration (volumetric analysis)Gravimetric analysisVarious wet chemistry testsCombustion analysisInert gas fusion Often physical and chemical methods overlap. In addition, mathematics is used in quantitative analysis. Statistics are particularly useful for analyzing data. The primary tool for quantitative analysis is the analytical balance or scale, which is used to measure mass precisely. Glassware, such as the volumetric flask, is also important. For analytical chemistry, a typical balance measures mass to 0.1 of a milligram. A sensitivity of about a thousand times is needed for microanalytical work. Why Quantitative Analysis Is Important Its important to know the quantity of all or part of a sample for several reasons. If youre performing a chemical reaction, quantitative analysis helps you predict how much product to expect and to determine your actual yield. Some reactions take place when the concentration of one component reaches a critical level. For example, an analysis of radioactive material might indicate there is enough of a key component for the specimen to undergo spontaneous fission! Quantitative analysis is crucial to the formulation and testing of food and drugs, as it is used to measure nutrient levels and provide an accurate accounting of dosage. It is also  critical in determining the level of contaminants or the impurity of a sample. While qualitative analysis might be able to determine the presence of lead in the paint on a toy, for example, quantitative analysis detects how much concentration exists. Medical tests rely on quantitative analysis for information about a patients health. For example, quantitative analysis techniques can determine blood cholesterol levels or the ratio of lipoproteins in plasma or the amount of protein excreted in urine. Here again, quantitative analysis complements qualitative analysis, since the latter identifies the nature of a chemical while the former tells you how much there is. Quantitative tests of a mineral may be used to determine whether its practical to mine it for a specific element or compound. Quantitative tests are used to verify that products meet manufacturer or regulatory specifications.

Marriot Corp Cost of Capital - 2528 Words

Introduction and background We are conducting an analysis of Marriott Corporation for calculating the hurdle rates at each of the firm s three divisions--lodging division, restaurant division and contract service division. Marriott uses Weighted Average Cost of Capital (WACC) as the hurdle rate, and use it to discount the appropriate cash flows when evaluate an investment project. Our goal is to determine the WACC at every division base on the information that the case has provided. First of all, we will determine the cost of debt, cost of equity and the capital structure for the whole company. Then we will compute for the tax rate, and calculate the WACC for the whole company. After this, we will determine the Risk-free Rates,†¦show more content†¦Strategy #2 conflicts with the company s objective because the company is using hurdle rate to discount cash flows and evaluate potential investments. If Re was higher, then WACC, which is the hurdle rate, would be higher as well. If this was the case, the company s growth would be reduced therefore failing the company s growth objective. If the company s objective is to keep growing by aggressively developing appropriate opportunities, it is best if they do not use their funds to buy back stock shares, even though these shares were undervalued. So strategy #4, which is to repurchase undervalued shares, conflicts with the company s objective. When the company intends to remain a premier growth company, it must aggressively invest in different profitable projects to generate more profit. If Marriott used their funds to buy back stock shares, the available funds for investment would be reduced. This will have a negative effect on the company s growth objective. 2.How does Marriot use its estimate of its cost of capital? Does this make sense? Marriot use cost of capital as the hurdle rate to discount future cash flows for the investment projects of the firm s three divisions. Hurdle rate is the minimum rate of return that is required in order for the company to accept the investment. Marriot use the hurdle rate to calculate the net presentShow MoreRelatedMarriot Corp Case: Cost of Capital1126 Words   |  5 Pagespresident of project finance at Marriott Corporation, prepares recommendations annually for the hurdle rates at each of the firm ¡Ã‚ ¯s three divisions. In this reflective case, the company ¡Ã‚ ¯s policies and strategies related with hurdle rates and cost of capital are discussed. In the above context, the company ¡Ã‚ ¯s policy of repurchasing its shares is also reviewed ; particularly, it focuses on the financial effects there may be if there is a 30% repurchase of the common stock. For practical purposesRead MoreMarriott Corporation Case Study: the Cost of Capital Essay656 Words   |  3 PagesFinancial Decision Analysis~Marriott Corporation Case Study Executive Summary – Q5 – Hurdle Rate Analysis Hurdle rates, the weighted cost of capital that projected cash flows must exceed for initiatives to be considered, vary within Marriott Corporations due to their unique industry risk levels and capital structures. They use this number to determine which projects to accept, to adjust the rate at which the firm grows and as a measure for compensation within each business area, and as incentiveRead MoreMarriott Corporation: the Cost of Capital2323 Words   |  10 PagesMarriott Corporation: The Cost of Capital (Abridged) Are the four components of Marriot s financial strategy consistent with its growth objective? Since its foundation in 1927 Marriott Corporation grew into one of the leading lodging and food services in the US. With three major business lines: lodging, contract services and related business, Marriott has the intention to remain a premier growth company. To achieve this goal the corporation’s strategy is to develop aggressively appropriate opportunitiesRead MoreMarriott Corporation Case2424 Words   |  10 PagesMarriott Corporation: The Cost of Capital (Abridged) 1. How does Marriott use its estimate of cost of capital? Does this make sense? Marriot use cost of capital as the hurdle rate (minimum rate of return required to accept the project) to discount future cash flows for the investment projects of the three lines of business (Lodging, Contract Services and Restaurants). They use this rate to calculate NPV and net present value over cost to decide for the profit rate. Since cost of the project staysRead MoreMarriott Case Notes2220 Words   |  9 PagesHow does Marriott use its estimate of its cost of capital? Does this make sense? c. What is the weighted average cost of capital for Marriott Corporation? †¢ What risk-free rate and risk premium did you use to calculate the cost of equity? †¢ How did you measure Marriott’s cost of debt? 1. Are the four components of Marriott s financial strategy consistent with its growth objective? 2. How does Marriott use its estimate of the cost of capital? Does this make sense? 3. Using the CAPMRead MoreMarriott Case Study2572 Words   |  11 Pagesas well be seen that this strategy may conflict with the objective, as the company uses the hurdle rate to evaluate potential investments where the cost of equity is higher, then the WACC would appear higher as well(hurdle rate)and distract the company to invest in some profitable ventures. c) The effort to optimize the use of debt in Marriott’s capital structure helps the company as it invests a lot in long term assets hence it is necessary for the company to maximize and optimize its debt. The companyRead MoreMarriott Corporation: the Cost of Capital2898 Words   |  12 PagesHBR Case #1 Marriott Corporation: The Cost of Capital Group 16—Tutorial Mon 11:30am Group members LIU Ying, Chloe | 1155019350 | LUO Yingying, Irika | 1155020931 | TIAN Tian, Sarah | 1155019114 | WU Jiajie, Jesse | 1155019061 | 17 September 2012 Executive Summary By 1987, Marriott Corporation had grown into a large multi-dimensional company with over $5 billion assets in lodging, contract services and restaurants. The company enjoyed fast growth in both sales and assets at aroundRead MoreAnalysis of Ioi Corporation Berhad Performance Based on 5 Years Financial Report4727 Words   |  19 Pagessustaining consistent long term growth in volume and profitability†. Today IOI Group comprises 2 listed entities on the main board of the â€Å"Bursa Malaysia†: IOI Corporation Berhad and IOI Properties Berhad. They also own 3 resort hotels under the name Marriot Putrajaya Hotel, Palm Garden Hotel and Casuarina Beach Resort. Among the company’s achievement and good works, it has won different awards and laurels from different well-recognized magazines and organizations around Asia such as; Finance Asia andRead MoreAnalysis of Capital Structure of Ihg5725 Words   |  23 PagesAnalysis of the Capital Structure of InterContinental Hot el Group (IHG) Company Student Numbers; 307473 307540 307576 308254 A dissertation in report form submitted in partial fulfillment of the requirements for Financial Management II of the Higher Diploma in Events, Hotel and Tourism Management IMI International Hotel Management Institute, Switzerland October 2010 Abstract: This report is illustrated about the capital structure ofRead MorePizza Hut Case Study3564 Words   |  15 Pageseven speaking to someone. Weaknesses However, the fact that Pizza Hut does have a restaurant to run is also a weakness. Pizza Hut has higher overhead costs, due to the restaurant that other competitors dont have to deal with. Another result of higher overhead costs is higher prices Pizza Hut must charge. Obviously, Pizza Hut is not the low cost producer. They rely on their quality pizza and good service to account for their higher prices. An indirect weakness that Pizza Hut has is that they have

The Industrial Revolutions Effect on The United States...

The Industrial Revolutions Effect on The United States and Russia *Works Cited Not Included Some people think that it is good to do bad things to achieve something good. Well, that seemed to be the case in Russia and the United States after the Industrial Revolution because in the United States and Russia problems led to solution .The Industrial Revolution caused many problems in both the United States and Russia. Even though the Industrial Revolution caused similar problems, the solutions and results were different. There were many problems in the United States due to the Industrial Revolution. First, some Americans attempted to form monopolies to take over a particular industry. For example, Rockefeller and†¦show more content†¦Overcrowding was a big problem in some areas. Many people that lived in cities had to live in tenements. The conditions there were not very good, and cities were getting dirtier and unhealthy. Diseases began to spread and people got sick and some died. The cities were getting worse and worse. Lastly, due to the diversity of people, and imm igration because of the Industrial Revolution, there were many prejudice people in the United States that discriminated against colored people just because of the color of their skin. They were powerless and were not listened to by people. These were just some of the problems in the United States after the Industrial Revolution. There were also many problems in Russia after they had an Industrial Revolution. Russia had many government problems. The Russian government was a type of government that did not listen to the people. The government did as it pleased without consent from the people. The people had no say in the governing process as in the United States. Due to this there were poor working and living conditions, overpopulation, poor sanitation, not many jobs and many people were starving. The majority of the people in Russia (about ninety percent) were poor and only about ten percent were rich and they controlled the nation. This meant the majority of the nation was not being listened to. There were also solutions to the problems in the United States. In order toShow MoreRelatedLenin‚Äà ²s October 1917 Revolution: limited accomplishments, yet a turning point in 20th century history2291 Words   |  10 PagesLenin‘s October 1917 Revolution: limited accomplishments, yet a turning point in 20th century history Abstract In 1917, Lenin led factory workers in St. Petersburg, Russia, in taking over the government, expecting to spark the rapidly spreading revolution to abolish capitalism predicted by Marx and Engels. Unexpected relationships among the nations impeded that spread,. Once having become the leader of the vast territories that had formed the Russian Empire and having created a constitutionRead MoreThe Essential Questions5521 Words   |  23 Pages and the man who regards it with contempt is really despising Gods creation. The Renaissance also had a number of serious negative effects. In particular, Schaeffer claims that in Aquinas the intellect of man was not seen as being affected by the fall (which is in fact not true), and the intellect of man was increasingly seen as autonomous. This has several effects. First, there is the development of natural theology, theology developed without reference to Scripture. In this version of the relationRead MoreUnique Characteristics of Soviet Montag e5818 Words   |  24 Pagessequence to condense space, time, and information, Soviet Montage on the other hand is a style of filmmaking that is evolved to immerse the audience in a story and disguise technique was turned upside down in order to create the opposite emotional effect to bring the audience to the edge of their seat, and in the case of the Odessa Steps sequence, to push the viewer towards a feeling of vertigo. In a simpler form, Soviet Montage  combination  series of short shots are edited into a sequence to create

Poetic analysis Essay Example For Students

Poetic analysis Essay To a Sad Daughter written by Michael Annotated, sends a powerful message regarding a fathers love, and his hockey dolling daughter. Through analysis it is clear that Annotated does not use many overt poetic devices, but his subtle figurative language and specific word choice makes for an extremely effective poem. His decision to use common language and keep it simple helps to relate and understand halls emotions for his daughter. In order to make the connection between he authors motive in the poem, and its effectiveness through analysis- one must first understand the context of the poem. The poem appears to be written by a single father, to his only child (daughter), in hopes to help you delicately step into the wild world (62-63). She is certainly not the most typical sixteen year old girl; she dollies a predominantly male sport and actually enjoys the aspect of cuts and wounds- all this pleases you (6-7). The father asks his daughter to be patient with him as he tries to open up and explain real life ND all its possibilities to her: old rather be your closest friend than your father, Im not good at advice you know that, but ride the ceremonies until they grow dark. (39-43). The father reveals his unconditional love for his daughter early in the poem, l like all your faults even your purple moods (15-16) and is clear that nothing means more to him than his daughter. Annotated describes these feelings as like instead of love for his daughter, only to avoid her from being embarrassment. Annotated later reestablishes his aspirations for his daughter to go fully through life ND Step delicately / into the wild world / and your real prize will be / the frantic search. / Want everything. If you break/ break going out not in. (65-70). He explains to his daughter that she must strive to reach her potential in life, and that it is better to go out after something and fall, than not trying at all. Annotated has clear originality in his work, but It can be most appreciated when connected with his subtle use of poetic devices, figurative language and style. To a Sad Daughter is a free verse poem written in first person narration from the ethers point of view; it has eight stanzas and does not follow any rhyme scheme. The poet has a difficult task of writing about a unique experience that only a father- daughter can share; It Is extremely effective being written In free verse because the Annotated establishes flow with sentence-like poetry and has good use of alliteration for smooth reading (Answers. Com): One day Ill come swimming / beside your ship or someone will / and if you hear the siren / listen to it. (26-29), and also in, One afternoon I stepped / into your room. You were sitting / at the desk where I now write this. / Forsythia outside with window / and sun spilled over you / like a thick yellow miracle (51-56). Nonnatives repetitive use of the consonance s is clearly alliteration at work, the short lines roll softly off the tongue. He uses the repetition of ah sounds in, When I thought of daughters I wasnt expecting this (12-13), this is the use of assonance to help again with flow and pace of reading (Answers. Com). Annotated captures intense emotion with the use of a hyperbole when the father states: Ill sell y arms for you (70). Another aspect of Nonnatives word choice in the poem is his various uses of imagery in the poem. Nonnatives first use of imagery is also in the same quotations as his first example of alliteration (26-29); sirens were mythical creatures that used their sweet song to lure sailors to their island eventually getting lodged on rocks near the shore (Answers. Com). The father gives untraditional advice to his daughter by telling her to head toward this. In the following lines he states, For if you close your ears / only nothing happens. You will never change. (29-30) explaining how change is necessary and essential for growing. .ude6989942d3bd0628f2d427bae76ab13 , .ude6989942d3bd0628f2d427bae76ab13 .postImageUrl , .ude6989942d3bd0628f2d427bae76ab13 .centered-text-area { min-height: 80px; position: relative; } .ude6989942d3bd0628f2d427bae76ab13 , .ude6989942d3bd0628f2d427bae76ab13:hover , .ude6989942d3bd0628f2d427bae76ab13:visited , .ude6989942d3bd0628f2d427bae76ab13:active { border:0!important; } .ude6989942d3bd0628f2d427bae76ab13 .clearfix:after { content: ""; display: table; clear: both; } .ude6989942d3bd0628f2d427bae76ab13 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ude6989942d3bd0628f2d427bae76ab13:active , .ude6989942d3bd0628f2d427bae76ab13:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ude6989942d3bd0628f2d427bae76ab13 .centered-text-area { width: 100%; position: relative ; } .ude6989942d3bd0628f2d427bae76ab13 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ude6989942d3bd0628f2d427bae76ab13 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ude6989942d3bd0628f2d427bae76ab13 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ude6989942d3bd0628f2d427bae76ab13:hover .ctaButton { background-color: #34495E!important; } .ude6989942d3bd0628f2d427bae76ab13 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ude6989942d3bd0628f2d427bae76ab13 .ude6989942d3bd0628f2d427bae76ab13-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ude6989942d3bd0628f2d427bae76ab13:after { content: ""; display: block; clear: both; } READ: Poetry Essay SummaryIn the last stanza the author combines a use of imagery and a metaphor when the father shifts conversation from the perspective of life, and attempts to explain death. If I speak of death / it is without answers (72, 74), Dont recall graves. / Memory is permanent. / Remember the afternoons / yellow suburban annunciation. / Your goalie / in his frightening mask / dreams perhaps / of gentleness. (78-85). The father tells his daughter that death is the end of everyones fife, he warns her to not get stuck in remembering graves of others that pass away, but for her to be strong and see the real images of life (Answers. Mom). This stanza paints a picture of people grieving over the loss of loved ones and how difficult it can be to stop remembering those vivid graves. Annotated, with his use of the more abstract poetic devices, has created a wonderful poem that is extremely effective. Although Michael Nonnatives poem, To a Sad Daughter at first may appear to lack the essential rhyme scheme and structure that so many poems follow, but through analysis Nonnatives originality and subtle use of poetic devices combined for very effective poem. His special attention to word choice and flow of sentences had a major impact on the quality of writing, and eventually its on influence the reader. The uniqueness between a father-daughter relationship, and also the unconditional love that Annotated has demonstrated in his poem through his writing, is truly something special. Works Cited Annotated, Michael. To a Sad Daughter analysis. Toronto: Thomson-Nelson, 2006.

Fraud Detection in Banking Transactions free essay sample

The purpose of this document is to detail the description of the Real Time (Active) Fraud Detection in Banking Transactions (FDBT) Project. This document is a key project artifact and is used during the design, construction, and rollout phases. Scope The objective of this project report is to capture the functional and non-functional requirements for the Real Time FDBT project. This report lists out the complete system requirements and design architecture of the project. The requirements contained herein will include, but not be limited to: Capabilities or system functionality – What a system does, to include, but not be limited to: Interfaces (internal and external hardware) Business Rules Data source and destination Exact sequence of operations and the algorithms used in those operations Triggers or stimuli to initiate operations or to force a change in state Error handling, recovery and responses to abnormal situations Validity checks Input/output sequences and conversion algorithms Frequency of use and update Constraints- Limitation imposed on the solution by circumstance, force or compulsion to include, but not be limited to: Design constraints based on TrinucInc IT Standards Control and Governance constraints (internal and external) Non-functional requirements to include, but not be limited to: Performance Requirements, Usability Quality Requirements (audibility, reliability, maintainability, etc. We will write a custom essay sample on Fraud Detection in Banking Transactions or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page ) Business Continuity, Operational Support Security and Control and Training Introduction Background According to the National Check Fraud Center in Charleston, South Carolina, bank fraud alone is a $10 billion a year problem. This is nearly 15 times the $65 million taken in bank robberies annually. The Concise Oxford Dictionary defines fraud as ‘criminal deception; the use of false representations to gain an unjust advantage. Fraud is as old as humanity itself, and can take an unlimited variety of different forms. However, in recent years, the development of new technologies (which have made it easier for us to communicate and helped increase our spending power) has also provided yet further ways in which criminals may commit fraud. As fraud attempts grow in both number and variety, financial institutions are challenged with the need for comprehensive, yet cost effective, risk management solutions. It is our belief that these fraudulent or suspicious financial transactions can be identified, characterized and red-flagged in real-time providing vital information to reduce their occurrences. For e. g. a check deposit followed almost immediately by a cash withdrawal would be a suspicious activity and warrant a red flag to check the customer’s motives. Banking databases with all the transaction information is readily available. We use this information coupled with our business logic to detect fraud and to develop the real time fault detector. Types of bank/financial frauds Check fraud New Account fraud Identity fraud Credit/Debit card fraud ATM transaction fraud Wire fraud Loan fraud Research The research regarding the project was done two fold – Business Issues and Technical research. First step was to identify the various ways in which bank fraud occurs and come up with common sense solutions to them based on our technical knowledge base. Next was to come up with the software architecture with technical decisions on choice of RDBMS, ETL tool and OLAP tool. Business Issues Detailed list of ways fraud occurs and activities that could red flag the transaction as suspicious are (Note: Activities generally pertain to personal banking and not corporate accounts): If check deposit is closely followed by cash withdrawal within say 10 hrs. If transaction type is above a specified number in 48 hours. If active more than one session at the same time. If trying to withdraw more money than the limit in credit. If trying to withdraw more money than the amount in debit. If trying to log on for more than 3 times at once. If any transaction is more than 80% credit limit in 48 hours (one transaction or sum or transactions in the 48 hour period). Deposit activity out of the normal range for any account Invalid Routing Transit numbers Excessive numbers of deposited items Total deposit amounts greater than average Large deposited items masked by smaller deposit transactions The amount xceeds the historical average deposit amount by more than a specified percentage A duplicate deposit is detected Deposited checks contain invalid routing or transit numbers The level of risk can be managed based on the age of the account (closed account getting lot of transactions suddenly). The number of deposits exceed the normal activity by the customer Consider the proximity of the customer’s residence or place of business Wire transfers, letters o f credit, and non-customer transactions, such as funds transfers, should be compared with the OFAC lists before being conducted. A customer’s home/business telephone is disconnected. A customer makes frequent or large transactions and has no record of past or present employment experience. A customer uses the automated teller machine to make several bank deposits below a specified threshold. Wire transfer activity to/from a financial secrecy haven, or high-risk geographic location without an apparent business reason, or when it is inconsistent with the customer’s business or history. Many small, incoming wire transfers of funds received, or deposits made using checks and money orders. Almost immediately, all or most are wired to another city or country in a manner inconsistent with the customer’s business or history. Large incoming wire transfers on behalf of a foreign client with little or no explicit reason. Wire activity that is unexplained, repetitive, or shows unusual patterns. Payments or receipts with no apparent links to legitimate contracts, goods, or services. A customer who purchases a number of cashier’s checks, money orders, or traveler’s checks for large amounts under a specified threshold. Money orders deposited by mail, which are numbered sequentially or have unusual symbols or stamps on them. Suspicious movements of funds from one bank into another, then back into the first bank: 1) purchasing cashier’s checks from bank A; 2) opening up a checking account at bank B; 3) depositing the cashier’s checks into a checking account at bank B; and, 4) wire transferring the funds from the checking account at bank B into an account at bank A. A rapid increase in the size and frequency of cash deposits with no corresponding increase in non-cash deposits Significant turnover in large denomination bills that would appear uncharacteristic given the bank’s location Different banks take different actions when confronted by a fraudulent transaction. The following table describes some of the actions taken by the bank and an ID no. is assigned to each: Bank Action Identification Number Freeze Account – No future transactions 8 Deny transaction 7 Teller warning – confirmed fraud, call security e. g. blacklisted check 6 Teller warning – double check ID, customer has bad history 5 Teller warning – call person from whom check originated. (Large check amt. †¦) 4 Deny ATM/online banking access 3 Reduce line of credit 2 Report to collection agency 1 We further generate a table to assign risk ranks for the various fraud detection rules along with the various dependant transaction parameters: Fraud Activity Description Dependant Parameters Business/Detection Rule Activity scale No. If any transaction(s) is more than 80% credit limit in 48 hours Old amount, requested amount(sum of amounts) Requested amount ? 0. 8 old amount 4 If transaction type is more than †¦types in 48 hours Type of transaction Count of number of similar transaction in specified time span 4 If active more than one session at the same time Transaction time Same transaction times 6 If trying to withdraw more money than the limit in credit Line of credit, requested amount Difference of LOC – Requested amt ? 0 7 If trying to log on for more than 3 times at once. Transaction time Same transaction times 6 Check deposit closely followed by cash withdrawal Transaction time, transaction type Transaction times of deposit and withdrawal ? 10 hrs 6 . . . This transaction data provided by Teradata acts the input to Ab-Initio where we apply our business rules in the transformation stage and obtain our output, which here would be to red flag the fraudulent transactions. Technical Research Relational Data Base Management System TERADATA Teradata data warehouse brings together all of the obtained data into a single repository for a completely integrated, 360-degree view of the truth. The Teradata Warehouse is a powerful, complete solution that combines Teradatas high-performance parallel database technology, a full suite of data access and management tools, and robust data mining capabilities, world-class scalable hardware, and the most experienced data warehousing consultants. With the Teradata RDBMS, you can access, store, and operate on data using Teradata Structured Query Language (Teradata SQL). Teradata SQL is broadly compatible with IBM and ANSI SQL. The Teradata RDBMS provides†¦ Capacity to hold Terabytes of data. Parallel processing which makes it faster than other relational DB. Parallel Data Extensions (PDE) a software interface layer on top of the operating system that enables RDBMS to operate in parallel env) Single data store and can be accessed from anywhere else. Fault tolerance – automatically detects and corrects any hardware failures. Data integrity –completes the transaction or rolls back to a stable state if a fault occurs. The architecture includes both Symmetric Multi-Processing (SMP) and Massively Parallel Processing (MPP) systems. They communicate thru fast interconnect. BYNET for MPP systems and board less BYNET (Virtual ByNet) for SMP systems. Users of the client system send requests to the Teradata RDBMS through a choice of various supported utilities and interfaces, which are listed below: BTEQ, Teradata SQL Assistant, Teradata WinDDI, Teradata MultiTool, FastExport, FastLoad, MultiLoad, Tpump, Teradata Visual Explain. These benefits have resulted in many Oracle Customers shifting their data warehouses from Oracle to Teradata in the past 3 years. Added to this Teradata provides the ability to Establish a single, centralized data warehouse with direct access by hundreds or even thousands of users across the organization. Integrate data from multiple sources and functional areas using one data model. Handle large and growing data volumes, complexity and number of users without any restructuring and reorganizations. Allow ad hoc, complex queries at any time with no scheduling necessary. The technical prowess has won Teradata, a division of NCR, a customer list of about 650 large companies and government agencies, including Albertsons, FedEx, Ford, the U. S. Postal Service and Wal-Mart. Characteristics of Teradata RDBMS that endeared us to use it in our project are: Extensive customer references. Time to solution is enhanced by Teradata’s flexibility that can be used for rapid initial implementation and ongoing extensions. Teradata can significantly lower total cost of ownership. Teradata Database is supported by an infrastructure of support 24/7/365. As data volume grows so will the system, but the growth is relatively effortless from a hardware and software point of view. More and more users will need access to the data warehouse, but adding them will not impact performance. Teradata’s performance with complex and ad hoc queries is unequaled. Loading and reloading the database is fast and fail safe with Teradata. If the warehouse needs to interface with the mainframe, Teradata offers seamless interoperability. Teradata Database is a mature product first released in 1984 Extraction, Transformation and Loading tool Ab Initio software is an ETL tool for enterprise class, mission critical applications such as data warehousing, batch processing, data movement, data analysis and analytics. Ab Initio helps to build large-scale data processing applications and run them in parallel environments. Ab Initio software consists of two main programs: Co-Operating System, which the system administrator installs on a host UNIX or Windows NT Server, as well as on processing nodes. (The host is also referred to as the control node. ) Graphical Development Environment (GDE) uses graphical components to build applications that transform large amounts of data. Business rules are applied to the datasets in the data transformation step by using the filter by expression component. Characteristics of Ab Initio ETL tool needed for the project are: Parallel data cleansing and validation. Parallel data transformation and filtering. Real time, parallel data capture. High performance analytics. Integration with Teradata RDBMS Integration and parallel execution of fraud detection custom codes. Has volume of 30 terabytes of data. Online Application Processing Tool Erwin is used in the design, generation and maintenance of high-quality, high-performance databases, data warehouses and final reports and graphs. From a logical model of the information requirements and business rules that define the database to a physical model optimized for the specific characteristics of your target database, Erwin helps to visually determine the proper structure, key elements and optimal design for the database. Its breakthrough Complete-Compare technology allows iterative development—keeping the model synchronized with the database at all times. Erwin Data Modeler scales across the enterprise by seamlessly integrating with CA’s Model Manager. This powerful model management system provides an important solution to the security management requirement. By dividing, sharing and reusing designs across different development efforts, modeling productivity can be maximized and corporate standards can be easily established and enforced. System Design and Architecture The data warehouse functional architecture as well as the technical architecture serves as a blueprint for the data warehousing effort. Throughout the project along with the architectural details various issues of fraud detection and some solutions to them with technical details have been discussed. The functional requirements express how the system behaves, focusing on the inputs, outputs and processing details of the system. The technical architecture centralizes the information and proposes how to integrate it. The technical architecture model depicts the overall framework and displays physical and logical interconnections. The technical architecture plan provides further insight on details dictated by the model, some of which were not apparent during previous project phases. The plan shows not only what has to be done, but also gives some indication as to why by its placement in the overall architecture model. The technical architecture model and plan provide two key benefits to the data warehouse project: improved communications and enhanced adaptability. Furthermore, by keeping these documentation items synchronized with project modifications, one has a ready, reliable data warehouse reference source. The data obtained by different financial institutions may vary in their formats and information provided. For the sake of generality and flexibility we use data generated according to the official data architecture standards as presented in the Center for Information Management website. (www. cimu. gov. mt) We will start the description of system design by showing the steps involved in the creation of datasets in Teradata. In our project we use the 6. 1 demo version of Teradata. 1. Start the Teradata Instance from the Windows START menu and selecting the Teradata Service Control icon. Minimize the screen after it says â€Å" Teradata Running† 2. Now Start Teradata SQL Assistant also from the Windows START menu. The above screen pops up. It has Query and History windows that pop up by default. In Query Window, we can write all the queries that we want to run. History Window keeps track of all the queries that we run. 3. Click on the top left most Connect button to connect to an old or create a new database. Fig. 1 Selection of database menu. Here financial database is being selected. We can click on the new button and create a new database too. Fig. The above screen shot is an instance of retrieving the Teradata database. Database specifications are entered. It will then ask for the names of database to be filled and some fields where we can specify the username and password for that particular database that we are about to create. Thus a Teradata database is created. 4. The next step would be to create some tables into this database. We can write a query in the Query Window to create a table. Click on the execute button to run any query. Fig. 3 This screen shot shows how a test table is created with two columns. 5. To see the newly created table click on the top left disconnect button and click the connect button again. Similarly, data can be inserted into in using insert query. Note: If we do right click on the query window, we can see Query Builder. We can use the Query Builder to build all sorts of Queries. Query Builder can be used to extract information from the table. The tables created for this project. They are: customer (customer details) cc_acct (Credit Card Account Details) credit_tran (Credit Card Transaction Details) checking_acct (Checking’s Account Details) checking_tran (Checking’s Transaction Details) avings_acct (Savings Account Details) savings_tran (Savings Transaction Details) accts (Account Types) These tables with the columns are listed below: Fig. 4 Customer details table Fig. 5 Credit card account details table Fig. 6 Credit card transaction details table Fig. 7 Checking account details table Fig. 8 Checking account transaction details table Fig. 9 Savings account details table Fig. 10 Savings account transaction details table Fig. 11 Account details table . . Teradata is also used to further provide the following data (but we do not show their creation or use in this project report): Customer information such as full name, address, SSN, number and types of accounts, credit limit, contact phone numbers etc†¦ Bank information such as bank branches, branch locations, sales representatives etc†¦ 6. Our table creation process in Teradata is now over. We now use the ETL tool Ab-Initio to create the graph implementing our business rules. For the sake of presentation simplicity and project confidentiality, we concentrate only on the following fraud detection rules: Customer transaction is not part of the bank (fake transaction). Customer withdrawals are more than 80% of his balance in the span of 24 hrs. There are basically three components for the creation of graphs in Ab-Initio: Input Component Transform Component Output Component. The next step involves specifying the input component in Ab-Initio. We do this by double clicking the input component and entering the URL path of the input file location and also the record format of the file. Fig. 12 Screen shot of the input component step of the graph creation process. Fig. 13 Screen shot with the view of the record format step. The file what we have used in this example is of size 9,649 KB. 8. We can view the data of the input file by right clicking on the component and selecting the view data option. There are almost 112000 records in this file but for simplicity only 100 records are being viewed. Fig. 14 View of our inputted table 9. Now, we join the input port to the reformat component and the output port of the reformat component to the output port. We can now apply transform on the input file by either selecting the transform option in the parameters tab of the reformat component or by entering the record format in the output component. Fig. 15 Reformatting of input components Fig. 6 Applying transform option in the reformat component In this example the tran_time, channel, tran_code has not been provided to the output port. As a result, the output file won’t have these fields in it after the graph is executed. 10. The next step is to build the graph. Fig. 17 Screen shot of the graph building process 11. Upon successful completion of the graph building process, we can view our output file by opening it in any editor like the Note Pad. Fig. 18 The output file of the Ab-Initio Graph as viewed in Note Pad Fig. 19 Full view of all the datasets in the output file The output file is 8,650 KB. 2. Similarly, a Flat file (any database table) can be read and written or loaded into a Teradata table by following the above-mentioned steps. The config dbc file and the path of the output with the file name is specified. Fig. 20 Transforming of flat file data Thus, data can be loaded to any database table using Ab-Initio. 13. The next step would be to sort the data obtained in the order we want and according to the variable we want and storing them as flat files. This step is basic in most data warehousing steps. We then apply our business rules to the data and obtain our output, which here are the red flags. A detailed description of the steps involved is as follows: F E D C B A Fig. 14: This figure shows how a red flag can be triggered if any customer crosses 80% of its limit in any type of account. Ab-Initio Component to sort the input data on the basis of Cust_ID. This join component joins the sorted inputs of the customer details and it’s account types that he/she has according to the Cust_ID. The customer_details_summary is taken as the normal output from the output port and the unmatched_customer_details and the unmatched_customer_accounts are outputted from the first and second output port. This join function takes care of the business rule to check if the customer really exists or not. This join component has three input ports. The number of input ports can be specified in the count of the parameter tab in the join component. FD file used is a lookup file. IT has weight specified for fraud. With the help of this component, the customer_detailed_summary, unmatched_customer_accounts and the fd file are joined on the basis of Cust_ID. It is a reformat component, which is one of the forms of, transform component. The business rule of putting a red flag for the customers who have crossed their account limit with more than 80% is applied here in the transform function. In this example total of 16 records. The one with flagged is given a weight of 1 and the one without flag as 0. The details of the customers with the fraud detection. FD file is a lookup file that has a column with 1 and 0 which when combined with the customer_detailed_summary on the basis of cust_id helps flagging the customer who crosses more than 80% of their limit. 14. New graph with intention to apply a second business rule: 4 3 1 Fig. 15 This graph shows how the detailed checking transactions of a customer performed within 24 hours can be found out Ab-Initio Component to sort the input data on the basis of Cust_ID. The join component joins the sorted checking_account of customers with the sorted_checking_transactions on the basis of cust_id to get the checking_account_transactions in the normal output port, unused checking_ accounts in the first unused port and the unused_checking_transactions in the second unused port. This join function takes care of the business rule to check if the customer is valid or not. It sorts the output on the basis of the customer_id which is then, Rolled up on the basis of the day to get the transactions performed within 24hours. The reject_rollup_checking is also sent to a reject output port. Thus, all the checking transactions of a customer within 24 hours are calculated. Logical Model – 1 (Erwin) Conclusion In this project we have concentrated on the financial fraud detection in banking transactions. But the generic nature of the project architecture would enable us to use the same software with minor changes to input data, business rules etc. o satisfy the fraud detection in other areas such as company financial bookkeeping, telemarketing, pay-per-calls scam etc. Also in there is a wealth of information that can be inferred form the output of our project. The following are some points for the further scope of our project: How this architecture could be used not only to detect fraud but also to identify target customer groups for marketing. We can als o provide monthly or weekly reports of sensitive and high-risk customers and even ATM and banking locations, which are fraud prone. Improve the overall security standards of the company. Develop a progress report for individual bank branches and identify their individual areas of improvement. References Kimball, R. , Reeves, L. , Ross, M. and Thornthwaite, W. (1998). The Data Warehouse Lifecycle Toolkit, John Wiley Sons, Inc. Silverston, L. , Inmon, W. H. and Graziano, K. (1997). The Data Model Resource Book, John Wiley Sons, Inc. www. teradata. com www. abinitio. com www. ca. com/db www. fraud. org http://teradata. uark. edu/research/

Podium vs. Lectern

Podium vs. Lectern Podium vs. Lectern Podium vs. Lectern By Maeve Maddox A reader laments the confusion between these two words: Here in the United States anyway, people are constantly using the word â€Å"podium† (what you stand on) to refer to the â€Å"lectern† (what you stand behind). The reverse, not so much. Confusing these two words erodes the richness of the language. We’re on the verge of having two words for â€Å"lectern† and none for â€Å"podium.† The confusion must be widespread: the OED already notes the use of podium to denote a lectern as â€Å"North American extended use.† I’d call it â€Å"extended misuse.† And it’s not just the North Americans who confuse the words. I discovered this example in a British newspaper: Just days after Sarah Palin revealed she was â€Å"seriously interested† in running for president in 2016, she stood behind the podium at the Iowa Freedom Summit and delivered a bizarre and rambling speech to the audience.- The Independent The Associated Press Stylebook- an American publication- recognizes the difference: lectern, podium, pulpit, rostrum: A speaker stands behind a lectern, on a podium or rostrum, or in the pulpit. The word podium derives from the Latin word for foot. One stands on a podium for improved visibility. For example, a band director stands on a podium to conduct. The word lectern derives from the Latin verb legere, â€Å"to read.† Readers or speakers stand behind a lectern and rest their notes on its sloping surface. In looking for misuses of the words podium and lectern, I used variations of prepositional phrases beginning with behind and on. Note: It is possible to stand behind a podium. For example, athletes stand behind the podium until it is their turn to mount the podium and receive their awards. Standing on a lectern, on the other hand, would be a risky thing to do. Speakers usually stand at or behind a lectern. The following examples illustrate nonstandard uses of lectern and podium: Incorrect: Minutes later, he entered Room 5, stepped onto the lectern for the final time, and tried to summarize how it felt to be leaving a job and a school he felt blessed to have worked for. Correct: stepped behind the lectern Incorrect: Dr. Bryan used no electronic slides or projection system but simply  stood behind the podium and delivered  what was for me the most thought provoking lecture  of the week. Correct: stood behind the lectern or stood on the podium Incorrect: The lecturer stood high up behind a tall podium,  so you could just see the top  of his head. Correct: stood high up behind a tall lectern Incorrect: These people were obviously in full view  of Romney as he  stood  at the  podium  and spoke for more than an hour. Correct: as he stood on the podium Dictionaries notwithstanding, careful speakers will continue to observe the useful distinction between lectern and podium. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:Avoid Beginning a Sentence with â€Å"With†5 Lessons for Mixing Past and Present Tense20 Criminal Terms You Should Know

GDP - Gross Domestic Product Essay Example | Topics and Well Written Essays - 1500 words

GDP - Gross Domestic Product - Essay Example Nominal GDP is the GDP according to current year prices while real GDP accounts for the effect of inflation on prices and is therefore also known as inflation adjusted GDP. By the use of a base year and elimination of effects due to price changes, real GDP allows useful comparisons to be made regarding the production of goods and services in an economy. For instance if the economy were growing at the rate of 4% per year while the rate of inflation was 1% then only 3% of the growth would be due to an increase in the economic output while 1% would be only due to price changes. GDP per capita describes the average number of goods and services consumed per person in a country. The significance of GDP as an instrument for channeling of aid and investments into countries is highlighted by Canoy and Lerais in the research titled ‘Beyond GDP’ that was composed for the European Commission in which they say: ‘GDP is the best-recognized measure of economic performance in the world, often used as a generic indicator of well-being. GDP is used in a large variety of political and financial arenas. It serves as a criterion to decide who has access to funds at international organizations such as the EU, UN, IMF and World Bank, GDP plays an important part in the Stability and Growth Pact, and it is a lead indicator for forecasts of financial markets and banks, to mention just a few examples. It is also used for international comparison and rankings and plays a crucial role in political debates.’ (Canoy and Lerais, 2007) The GDP of any given country fails to adequately explain its overall economic well being since its calculation either excludes or overstates a number of crucial aspects that describe the standard of living of a population. The notion of ‘well being’ has been described as a multidimensional concept ‘with both an individual interpretation in the Aristotelian spirit and a collective one to capture the progress of a nation’ (Canoy and Lerais, 2007).   Although GDP per capita i.e. goods and services consumed by the average person measures the spending by an individual yet it does not accurately depict an individuals’ well being. Materialistic expenditure is not all that characterizes individual well being. Rather it is a much more comprehensive idea including psychological well being as well as happiness derived from non material sources. An individual’s health, diet, achievements, mobility and participation in society are all essential sources o f contentment that are not included in calculation of GDP.