Beh 225 Assignment Diagnosis and Treatment Essay Example for Free

Beh 225 Assignment Diagnosis and Treatment Essay Assignment: Diagnosis and Treatment Beh 225 July 10, 2011 Assignment: Diagnosis and Treatment According to the American Psychiatric Association, there is a fifteen percent prevalence of mental disorders in the United States. Bipolar disorder, also known as manic-depressive, is a mental disorder. Symptoms of bipolar disorder include extreme highs and extreme lows with periods of normal mood in between. Manic symptoms are being extremely active, talkative, distractible, unlimited hopes with no follow through, aggression, hostility, and violence. Depressive symptoms are feeling overwhelmed and worthless, loss of interest, insomnia, loss of concentration, and suicidal thoughts. Suicide is the 11th leading cause of death in the United States. Roughly, 29,000 people commit suicide each year. Bipolar Disorder can create marital and occupational problems as well as financial dismay. Mood disorders are thought to be caused by nature and nurture. Biological factors that may lead to a bipolar episode are chemical imbalances in the brain, hormonal imbalances, and inherited traits. Physiological factors that may lead to a bipolar episode include maladaptive cognitive distortions. The text defines this as â€Å"an illogical and maladaptive response to early negative life events that leads to feelings of incompetence and worthlessness that are reactivated whenever a new situation arises that resembles the original events. † (Morris and Maisto,2005) Studies suggest that women are two to three times more likely to have a mood disorder than men. Being diagnosed with bipolar disorder is a lifelong and reoccurring illness. There are different types of bipolar disorder. The symptoms of bipolar I are severe mood swings from manic to depressive that lasts at least seven days. Bipolar II occurs when mood swings are less manic, or hypomania, and shift back to depressive. When one’s symptoms are not determined to be either of these the disorder is called bipolar disorder not otherwise specified. These symptoms are not as fierce as the I and II characterization. Cyclothymiacs is a mild form of bipolar disorder. These milder forms of symptoms continue to shift over the course of two or more years. When a person has four or more episodes a year they are referred to as a rapid cycler. Although the onset of this disorder usually occurs in the twenties and thirties some children are also diagnosed. Children are more likely to be diagnosed early if they have two parents with the disorder. The child’s odds increase up to seventy-five percent in some cases. Many bipolar patients self medicate with drugs and alcohol. This action can trigger or prolong the symptoms. Bipolar disorder patients are at a higher risk for many diseases. These diseases include heart disease, diabetes, obesity, migraines, and thyroid disease. When one suspects they have bipolar disorder, a doctor needs to be consulted. The doctor will perform a physical examination, interview the patient, and order testing. There is no test for bipolar disorder but these tests will rule out other ailments. After reviewing all tests and lab reports a mental health evaluation will be preformed. Family history will be taken as well as interviewing the family of said patient. Bipolar patients tend to seek help in the depressive state rather than the manic state. This disorder is treated with medications and psychotherapies. Over the course of treatment, several medicines may be tested. The first choice of treatment is a mood stabilizer. The FDA approved lithium in the 70’s for treatment of mania. In 1995, the FDA in treating mania approved depakote. Recently, the FDA in treating bipolar disorder approved an anticonvulsive medication. Anti convulsive medicines are lamictal, neurontin, topomax, and trileptal. Atypical antipsychotic, or second generation, medicines are also used occasionally. These medicines are zyprexa, abilify, seroquel, risperdal, and geodon. These medications relieve sudden and severe mania symptoms. Anti depressants are used in treating the depressive side of bipolar disorder. Prozac, paxil, Zoloft, and wellbutrin are all examples of anti depressants. Mild side effects to medicines include headache, rashes, and heartburn. These side effects usually go away as one get used to taking the medicine. Serious side effects can occur, as with any medicine, such as tardive dyskinesia. This is uncontrollable muscle movement, usually around the mouth, that needs to be discussed with a doctor. In addition to medication, psychotherapy is recommended. These therapies include cognitive behavioral therapy, interpersonal therapy, and social rhythm therapy.

Analysis of e. e. cummings’ Poem of all the blessings which to man Essa

Analysis of e. e. cummings’ Poem of all the blessings which to man      Ã‚   As Thomas Reed West puts it, "the predominant literary sentiment toward the discipline of the machine has been one of lament" (xii). Many authors have composed pieces dealing with industrialization and the correlated obsolescence of man. Poet e.e. cummings is among them. In his poem "of all the blessings which to man," cummings describes a world to which progress will doom mankind-- a place where technology rules over humanity.    Cummings's poem opens saying that the most supreme gift progress offers mankind is "the an/ imal without a heart" (3-4). This heartless living thing is the machine. Machines can be made to act, and can often appear as if they think, but cannot feel. This is the greatest present presented to us by progress? To view that as a gift is to hold logic highly supreme over emotion, a preference this piece laments as being unfortunately accepted.    This industrialization and elimination of the need for humans is similarly unfeeling and coldly logical. The age of machinery presents its nearly silent coup d'etat rebels, the mechanical beings themselves, as a huge "collective pseudobeast," aimed at eliminating not only a need for humanity but a need for emotion (5). The poem's speaker notes that this being only preexists "its hoi in its polloi" (8). This shows the aim these machines allegedly have-- not simply to overtake the teeming masses of people but to become the teeming masses (hoi polloi) themselves, even to make humanity forget that they were ever in charge. This hearkens to the government employees constantly rewriting history in George Orwell's 1984, as these machines hope to make the people forget how things eve... ...y have done too good of a job. Their creation will change them from tame rulers to beings whose prolific creation ("teem") overcomes them.    Movies and literature alike have often served to villainize technology. These topics survive and persist, perhaps because we are morbidly fascinated with our own predicted downfall. Many people will admit to being concerned, as cummings is in "of all the blessings which to man," that the world will one day be run by machines. This potential future governing force is "without a heart" and "couldn't use a mind," and that may scare humans most of all (25, 28).    Works Cited Rotella, Guy. "Nature, Time, and Transcendence in Cummings' Later Poems." Critical Essays on E.E. Cummings. Ed. Guy Rotella. Boston: G.K. Hall and Co., 1984. West, Thomas Reed. Flesh of Steel. Charlotte, NC: Heritage Printers, 1967.   

The Importance of Tourism for the Malaysian Economy in a Recession

Given the relatively small size of our economy, Malaysia is a country heavily reliant on exports as a source of income. Manufacturing, our biggest foreign exchange earner, currently accounts for the bulk (70%) of total exports led by electronic parts and components, followed by commodities such as oil and gas as well as palm oil. As long as this over-dependency remains, Malaysia will always be exposed to the risks of the cyclical nature of global ICT product demand and the speculative prices of raw materials. Based on the growth experience of industrialized economies, manufacturing has also already reached its optimum share of 30% contribution to the Malaysian GDP. In other words, traditional means of exports will continue to decline and diversification of our export earnings is imperative for us to compensate for the resulting gaps. Dato Seri Najib Razak’s recent announcement of further liberalization to the services sector couldn’t have been more well-timed. Through this, we can expect to speed up our reduction of on imported services while boosting our exports (in various other categories) to register a healthier overall bank balance. We’ve only just started seeing trade surplus for services since 2007. This would not have been possible without tourism, which contributes to almost 50% of the services sector and Malaysia’s 2nd largest foreign exchange earner. Besides having an incredible multiplier effect in terms of income and employment distribution due to far-reaching linkages to other sectors (construction, finance, insurance, manufacturing etc. – tourism, unlike other goods or services, has no exact substitutes; meaning demand for holidays is more likely to grow rather than be traded with something else. Neither is it subjected to price fluctuations affected by speculative factors like commodities for example. If the index of average international tourist expenditure equals the price of the international product , prices received enjoy greater stability versus raw materials. In fact, prices have tended to increase in a stable manner due to among other things, demand for holidays and the rigidity of destination supply in the short and medium term. Tourism also has the capacity to recover foreign-currency investment in a shorter time – a strong motivation for FDI inflows to the country. The UNWTO estimates that a medium-class beach hotel in a developing country will earn back in 1 year the entire foreign exchange required to build and equip it. In this bleak climate however, decline in international arrivals is naturally expected. Unless enough measures are put in place to safeguard the industry – the impact would overwhelming on not just travel per se, but on a massive chunk of businesses that rely on tourism as a demand stimulus. There are several key things we need to do. Firstly, we need to be extremely targeted in terms of our source markets. This recession is quickly speeding up the shift of economic power to emerging economies – the result of the contrast between the excess of savings in Asia and the debt burden of Europe and North America. While it is a global downturn, China, India, and MENA region are still expected to post positive growth – which is a far cry from the -3% growth forecasted for developed countries. Besides ASEAN, contribution of international arrivals from these countries will make up a substantial share of our prospects. What this also means, is that our ASEAN counterparts would be vying for the same piece of the pie. Even more difficult is the fact ASEAN destinations share their own equivalent of what Malaysia offers as a travel destination – common key interests like cultural experiences, beaches and spas, historical monuments, shopping, local cuisine, sports etc. As witnessed from most communication efforts both regionally and globally, countries have more often than not packaged these attractions together in a beautifully crafted montage of pictures either on television or print advertising that spells out what a destination has to offer. During a time when such demonstrations become expected proof of value, how do we then break through the clutter and arrest the traveler’s attention? To do this, we need to create ideas that mean something to them, ideas they would want to spend their time with. Value need not necessarily mean tangible or functional attractions to a traveler alone. Rather than starting with the multitude of things a destination has to offer, we need to look at our arrival prospects as people first – and identify a fundamental need, that could be emotional or rational, before tailoring our destination to resolve them. An example of how this approach has worked lies within Tourism Malaysia’s own communications targeting the South and West Asian markets by JWT-Sen Media Malaysia in 2008. In India, 2 large and rapidly growing segments of travelers were identified – honeymooners and young, affluent working couples with kids. Surveys revealed an interesting discovery amongst newlyweds, the fact that a majority of marriages in India were still largely arranged, by choice. A honeymoon for them is akin to a couple on a first date, where an awkward tension exists between both parties. By tapping on this, we demonstrated the emotional value of a Malaysian holiday by telling a story of how a relatively unknown man called a husband becomes a close friend of a woman with each passing day, having gone through different experiences in Malaysia together. As for young families – the main motivation behind a holiday is to indulge in quality time with their family, as 55% feel they don’t spend enough time with their children back home. To capture this segment, a story of a busy, successful boss who rediscovers the dad in him was spun around a holiday experience in Malaysia. Similarly for West Asia, we tapped on a finding that the target looked forward to the refreshing feeling of â€Å"water† when they go on a holiday, as it’s a transient form of escapism from their natural surroundings. We sought to bring this feeling to life by weaving a tale about a little girl who comes to Malaysia with her parents, equipped with a tiny parasol, looking for cool hills and the excitement of rain†¦and finds it. Through selling value based on fundamental â€Å"people† motivations instead of purely selling the destination, Malaysia posted a growth of arrivals from India by 28% within the months of October to December 2008 (when the campaigns ran) versus the same period during a recession-free 2007. In the largest West Asian markets – Saudi Arabia and Iran posted an astonishing 47% and 64% growth in arrivals respectively. The question we need to ask ourselves now is – what are travelers looking for in these times, and how do they want to feel? Once this has been identified – it’s a matter of ensuring the most efficient way to reach them. While this sounds seemingly simple, the proliferation of channels to reach ever-changing consumers is continuing to evolve rapidly. It’s no longer enough to assume threshold weight on traditional mediums like print or TV advertising alone to talk to different segments of travelers with incredibly different needs. The availability of broadband connections has expanded speedily in our target markets – the number of Internet users in China has grown by over 40% YOY to 298 million in 2008, whereas in India, a growth of 33% was seen among urban users. Increasingly, travelers in the Asia Pacific region prefer to plan their travels online – 75% of them in fact, as evidenced by the latest PATA/Visa Travel Intentions Survey; strongly catalyzed by the growth in low-cost airlines over the years, where most transactions happen online. Planning usually kicks off broad based, before honing into destinations that arrest their attention for more focused planning. The Internet allows travelers to find what interests them more easily and connect with like-minded people in ways they never could before. Top sources for information are travel, hotel, airline websites, as well as word-of-mouth and recommendations. Where the latter stemmed mostly from family and friends in the past; it has found its way to be readily available in the form of travel blogs, networking sites and various other forums. The Internet as an alternative media channel is unrivalled in its targeting and accountability, providing the capability to track what people search for and where they surf – and allow communications and information to be tailored specifically to travelers’ presumed special interests. The on-going advancements of the infrastructure also give much fluidity to the medium; allowing the creation of the destination experience digitally to make travelers feel a certain way; which is far more powerful than asking people to think about the value. In the TV era, getting trial happened at the end of the marketing process – now it can be the start.

Coordination Number Definition in Chemistry

The coordination number of an atom in a molecule is the number of atoms bonded to the atom. In chemistry and crystallography, the coordination number describes the number of neighbor atoms with respect to a central atom. The term was originally defined in 1893 by Swiss chemist Alfred Werner (1866–1919). The value of the coordination number is determined differently for crystals and molecules. The coordination number can vary from as low as 2 to as high as 16. The value depends on the relative sizes of the central atom and ligands and by the charge from the electronic configuration of an ion. The coordination number of an atom in a molecule or polyatomic ion is found by counting the number of atoms bound to it (note: not by counting the number of chemical bonds). Its more difficult to determine chemical bonding in solid-state crystals, so the coordination number in crystals is found by counting the number of neighboring atoms. Most commonly, the coordination number looks at an atom in the interior of a lattice, with neighbors extending in all directions. However, in certain contexts crystal surfaces are important (e.g., heterogeneous catalysis and material science), where the coordination number for an interior atom is the bulk coordination number and the value for a surface atom is the surface coordination number. In coordination complexes, only the first (sigma) bond between the central atom and ligands counts. Pi bonds to the ligands are not included in the calculation. Coordination Number Examples Carbon has a coordination number of 4 in a methane (CH4) molecule since it has four hydrogen atoms bonded to it.In ethylene (H2CCH2), the coordination number of each carbon is 3, where each C is bonded to 2H 1C for a total of 3 atoms.The coordination number of a diamond is 4, as each carbon atom rests at the center of a regular tetrahedron formed by four carbon atoms. Calculating the Coordination Number Here are the steps for identifying the coordination number of a coordination compound. Identify the central atom in the chemical formula. Usually, this is a transition metal.Locate the atom, molecule, or ion nearest the central metal atom. To do this, find the molecule or ion directly beside the metal symbol in the chemical formula of the coordination compound. If the central atom is in the middle of the formula, there will be neighboring atoms/molecules/ions on both sides.Add the number of atoms of the nearest atom/molecule/ions. The central atom may only be bonded to one other element, but you still need to note the number of atoms of that element in the formula. If the central atom is in the middle of the formula, youll need to add up the atoms in the entire molecule.Find the total number of nearest atoms. If the metal has two bonded atoms, add together both numbers, Coordination Number Geometry There are multiple possible geometric configurations for most coordination numbers. Coordination Number 2—linearCoordination Number 3—trigonal planar (e.g., CO32-), trigonal pyramid, T-shapedCoordination Number 4—tetrahedral, square planarCoordination Number 5—square pyramid (e.g., oxovanadium salts, vanadyl VO2), trigonal bipyramid,  Coordination Number 6—hexagonal planar, trigonal prism, octahedralCoordination Number 7—capped octahedron, capped trigonal prism, pentagonal bipyramidCoordination Number 8—dodecahedron, cube, square antiprism, hexagonal bipyramidCoordination Number 9—three-face centered trigonal prismCoordination Number 10—bicapped square antiprismCoordination Number 11—all-faced capped trigonal prismCoordination Number 12—cuboctahedron (e.g., Ceric ammonium nitrate -(NH4)2Ce(NO3)6)

Sociological Autobiography - Free Essay Example

Sample details Pages: 5 Words: 1611 Downloads: 2 Date added: 2019/03/13 Category Literature Essay Level High school Tags: Autobiography Essay Did you like this example? When we make decisions and experience things, we often describe them as being our own, ours. However, when we think about why we made those decisions and why we experience things we come to realize that we are influenced by society to make decisions for us. There are many external societal factors that influence our beliefs and values which in turn affect how and why we make decisions. My family, friends, and society in general have heavily influenced the way I have lived my life and the person that I am today. I was birthed into this world on January 24, 2002 in the city of San Jose, California, eyes wide open, ready to be shaped and molded into the individual that society wanted me to become. Immediately I was given the ascribed status of a girl. A quick glance was all it took to confirm what then became my gender and that was that. With this social label my parents, in result, treated me according to societys view of how a girl should be treated. This included pink and purple everything, dolls and dollhouses. It wasnt until I got a little older and would play with my cousins that that stereotype began to change. I grew up surrounded by a lot of family mainly because my culture is very family-oriented, but also because my family was so large in number. Don’t waste time! Our writers will create an original "Sociological Autobiography" essay for you Create order Most of my first cousins, especially those close to my age, were male. Because many of my cousins who I played with as a child were male, I started to participate in more boy activities. For example, playing in the dirt and mud, playing basketball, and playing video games. I do not recall my parents or family ever saying anything about me participating in these activities however, I do remember an occurrence when I was in kindergarten in art class. The art teacher had assigned us an art project where we were to paint a picture for our dads for Fathers Day. I decided to paint flowers for my dad because at the time he liked to garden and had all kinds of vegetables and flowers growing in our backyard. When I had told the art teacher what I was going to paint she told me to paint something else, like a car. At the time I didnt understand why I couldnt paint flowers for my dad when I knew that he would like it, but that didnt matter because flowers are girly and not meant for boys. This was just the first of my experiences with societys gender roles. I am the youngest and only girl out of three other siblings. However, they are all half-siblings. I have two older brothers from my father and one older brother from my mother. Because of this, and because of the large age gap between my brothers and I, I never experienced that close sibling relationship with them. Being not only the youngest, but also the only girl had a huge influence on who I am today. My dad had only ever had sons, so he, in a way, treated me like another son. He wanted me to play all kinds of sports like my brothers did. I was never an athletic person, and still am not, so I never played any sports that my brothers played like football and baseball. My dad also was rougher with me because he didnt want me to be soft. Because of this I was called a baby or wimp if I cried over little things. My mom however, always defended saying that it was okay for me to cry though her reasoning was because Im a girl and you must be more careful around me because I am not as tough as a boy. Growing up in the Bay Area the community that I was surrounded by was extremely diverse much like here in Sacramento, if not more so. There was a great mix of people from different cultures, religions, and backgrounds. The neighborhood that I grew up in specifically was inhabited mostly by middle class families, my own included. Being around people of the same or similar social class and economic backgrounds caused less discrimination and prejudice toward people when it came to social statuses and salaries. Being raised in this community also encouraged diversity especially in race and ethnicities, so even at a young age, seeing people of different skin colors participating in various cultural practices became a norm. Though I am half African American and half Chamorro, I was raised predominantly by my maternal side of the family. My mother and my mothers side of the family being Pacific Islanders, I grew up with their beliefs, norms, and values solely because that was what I grew up with. As a Pacific Islander, more specifically a Chamorro/Guamanian, our culture is centered around a very social lifestyle. Our culture is also extremely family-oriented and that includes both immediate and extended family members, so as I was raised, family was taught to be one of the most important values in life. Another important value that was taught is storytelling. Passing down stories through generations was taught to be important in order to keep the culture alive. Because Pacific Islanders are not a very common race compared to others based on population sizes, there is often prejudice towards Pacific Islanders since there is such little common knowledge about us. Pacific Islanders as a group are often generalized to all be Hawaiian or the same as Hawaiians when that is not the case. At a young age when people would ask me where I am from and I would tell them that I am from Guam, they would be confused, which even at a young age I understood because it is a very small island on the other side of the globe, and I wouldnt expect them to know. It was often difficult to feel involved or connected with classmates and groups in school because of the race being so underrepresented. In turn, I embrace my ethnicity and culture as much as possible and will be sure to pass those values on to my future children. One way I embrace my culture right now is through cultural dancing. I have danced with a local Polynesian dance group since I was nine years old. In the group we perform Hula, Tahitian, and other Polynesian dances. Hula and Tahitian dancing are often sexualized because of the movement of the hips and the type of attire worn, especially by women, when dancing and performing. When I would tell people that I danced Hula and Tahitian, many times guys would say things like, Oh, so you can move your hips? Society portrays the Hula Girl in a way to attract tourists or a public relations campaign. As a result, sometimes people dont take the performances seriously or do not recognize the significance of the dance. This is just another example of the lack of common knowledge of Pacific Island cultures. Another value that Pacific Islanders have is practicing religion. There is no one religion that is enforced specifically however, Catholicism is predominantly practiced within the race. My father is not a very religious person and that was just how he was raised, but my mother was raised in a very Catholic home. Consequently, I was raised in a Catholic family. My maternal grandmother often pushes Catholicism on me and my other cousins. If someone were to ask me right now what religion I follow, I would tell them Catholicism but only because that is the only religion that I was taught about or practiced. As I have grown older and have been more educated on different religions and on how different people view religion, my belief about certain practices and their purpose has faltered. I believe in God, but many of the beliefs and rules of the Catholic faith I have begun to question. Religion is very complicated. As I am growing and truly finding what I believe in, I begin to question who is right? Who is wrong? Is there a right or a wrong? Overall, my religion is something that I am continuing to question every day and will continue to change as I discover myself and my true beliefs. Sexuality and my sexual orientation were not something that I ever really thought a lot about. Growing up I knew that I was attracted to the opposite sex. It wasnt until I got older, around middle school, when I was properly educated about the different sexual orientations. At that time, it was starting to become more common for people around my age to discover their sexuality. Becoming more educated on the various sexual orientations, my orientation did not change however, I became more open to a possible change. All my life thus far I have only ever been attracted to the opposite sex, heterosexual, but I cannot say that I will never be attracted to someone of the opposite sex or someone of a different gender identity. The way that society and the people in my life have defined race and ethnicity, social class, and gender have greatly affected how my life has developed thus far. They have shifted the way I view my roles as a mixed race, middle class, female. The things that I have experienced and learned have affected and will continue to affect the way I live the rest of my life. Society has a huge impact on our lives and will continue to change and shape the way we live throughout time. Our experiences in the social world are what make us who we are.

Who Is The Best Product Or Service - 874 Words

Welcome to the Experience Economy With so many companies nowadays, it is hard to chose which one has the best product or service. All of them sell products, but only a few sell experiences. What is an experience? According to a study made by B. Joseph Pine II and James H. Gilmore [Welcome to the Experience Economy], an experience occurs when a company intentionally uses services as the stage, and goods as props, to engage individual customers in a way that creates a memorable event. â€Å"Commodities are fungible, goods tangible, services intangible, and experiences memorable.† Moreover, two people cannot have the same experience because each experience derives from the interaction between the stages event and the individual’s state of mind. Experiences were usually associated with the entertainment business, such as Disney World. However, today, the concept of selling experiences is spreading beyond theaters and theme parks; companies stage an experience whenever they engage customers in a personal, memorable way. The study also indicates that some companies such as Disney and Universal do charge guests an admission fee for their experiences. Nevertheless, some do not; if they did charge an admission fee, they would be forced to stage a much better experience to attract paying guests. Pine and Gilmore believe that experiences have two dimensions. The first is the customer participation, which can be passive or active. Passive participation is when the customer does notShow MoreRelatedWho Is The Best Buy? A Brand Product Sales, Services, And Solutions1174 Words   |  5 PagesWhat does it take to be a leader in one’s industry? Best Buy has discovered the recipe for just that in their 50 years of existence. â€Å"Best Buy is a leader in technology product sales, services, and solutions. 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Our company is recognized for its innovative clothes that absorb sweat. Our main focus has been development of performance apparel. We stand out from rest of the crowd because of our licensing arrangement with a Japanese company, which makes us equal to our competitor Nike. We have now developed a powerful brand identity by reaching out to younger customers who have turned out to be loyal throughout their livesRead MoreBest Buy s Corporate Office1522 Words   |  7 PagesBest Buy â€Å"Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers—and we rely on our employees to solve those puzzles. Thanks for stopping.† Who is Best Buy? Best Buy’s corporate office is located in Richfield, Minnesota and was founded by Richard Schulze in 1966. Originally, Best Buy was known as Sound of Music before changing its name in 1983. Best Buy is one of the largest big box retail electronics providers in the world generating over $40

Fundamentals Of Finance A Prospectus

Question: Requirement 1: One of the most popular forms of investing is investing in shares. Shares may be bought in Initial Public Offerings (IPOs) as an initial subscriber, through a prospectus. These shares can later be sold on a stock exchange when those shares are listed. Your task is to use the Medibank Private Limited prospectus in the course notes section of the myMIBT portal. Medibank Private Limited is making an IPO seeking to raise equity capital in Australia. Your task is to answer the following questions by referring to the prospectus listed above and by using other resources (such as the internet, the ASX website www.asx.com.au; media and finance textbooks): (1) What is a prospectus and what are the major components within a prospectus? When a prospectus is issued, whom does it need to be lodged with in Australia? (2)What are three listing requirements for listing on the Australian Securities Exchange (ASX)? In what industry group would Medibank Private Limited be classified on the ASX? (3) Does the company intend on paying a dividend? If so, when and how much? What are fully franked dividends? (4) What is the issue price per share and how much is expected to be raised from the IPO? Who will receive the proceeds from the share offer and how will the funds raised be used? (5) Distinguish between retail and institutional investors. Make use of the Medibank Private Limited retail and institutional offer to support your answer. (6) The offer to purchase shares in the Medibank Private Limited IPO is now closed. What would be the process to acquire shares in Medibank Private if you missed this offer. (7) Assuming your group bought shares in the Medibank Private IPO, do you think your decision was correct? Explain by comparing the information in the prospectus with the current market price on the ASX. Requirement 2 Your group manages investment funds and your job is to advise clients on what portfolio best suits their needs, given their characteristics. You have three different customer types: I. A young Deakin Commerce graduate (Mark) with a long and successful career ahead of him. II. A middle aged couple (Mr. and Mrs. Smith) who are high income earners. They plan to retire in 10 years time. III. An older member of the work force (John) who is hoping to retire in the next 18 months. There are 3 different portfolio packages that you offer clients: PORTFOLIO X: 40% bonds; 50% cash; 10% property. PORTFOLIO Y: 40% shares; 40% bonds; 20% property. PORTFOLIO Z: 80% shares; 15% property; 5% bonds. Your task is to answer the following questions by referring to your textbook, otherfinance books, the media, the internet etc.:(1) By using the information in TABLE ONE (page 4) calculate the expected (average)return, denoted by E(R), and the risk (standard deviation), denoted by , for each ofthe four asset classes as well as the three portfolios in Table One and include youranswers in the table. The completed table should be submitted with your assignment.Show ALL workings in the Appendix after the reference list. All finalcalculations should be correct to two decimal places (two numbers after the dotpoint) expressed as a percentage. The workings in the appendix may behand-written. (2) Describe the features and important characteristics of each of the three portfolios inTable One. Include in your answer the meaning of a portfolio and a discussion of theexpected return and risk of the three portfolios relative to the individual asset classesthat comprise the portfolios. Use the resul ts/numbers in Table One to illustrate. Youranswer should not exceed 600 word.(3) For each of the three customer types that you have, recommend the most suitableportfolio option and justify your choice. Use language here that the customers willunderstand. You should use a graph here to show the historical return performance ofeach of your portfolios to assist with your recommendation. Your answer should notexceed 600 words. Year Shares Property Bonds Cash Portfolio X Portfolio Y Portfolio Z 1994 -8.70% -5.60% -4.70% 5.30% 0.21% -6.48% -8.04% 1995 20.20% 12.70% 18.60% 8.00% 12.71% 18.06% 19.00% 1996 14.60% 14.50% 11.90% 7.60% 10.01% 13.50% 14.45% 1997 12.20% 20.30% 12.20% 5.60% 9.71% 13.82% 13.42% 1998 11.60% 18.00% 9.50% 5.10% 8.15% 12.04% 12.46% 1999 16.10% -5.00% -1.20% 5.00% 1.52% 4.96% 12.07% 2000 3.60% 17.80% 12.00% 6.20% 9.68% 9.80% 6.15% 2001 10.10% 14.60% 5.50% 5.30% 6.31% 9.16% 10.55% 2002 -8.10% 11.80% 8.80% 4.80% 7.10% 2.64% -4.27% 2003 15.90% 8.80% 3.00% 4.90% 4.53% 9.32% 14.19% 2004 27.60% 32.00% 7.00% 5.60% 8.80% 20.24% 27.23% 2005 21.10% 12.50% 5.80% 5.70% 6.42% 13.26% 19.05% 2006 25.00% 34.00% 3.10% 6.00% 7.64% 18.04% 25.26% 2007 18.00% -8.40% 3.50% 6.80% 3.96% 6.92% 13.32% 2008 -40.40% -54.00% 14.90% 7.60% 4.36% -21.00% -39.68% 2009 39.60% 7.90% 1.70% 3.50% 3.22% 18.10% 32.95% 2010 3.20% -1.10% 6.00% 4.40% 4.49% 3.46% 2.70% 2011 -10.50% -1.50% 11.40% 5.00% 6.91% 0.06% -8.06% 2012 18.80% 33.00% 7.70% 5.00% 8.88% 17.20% 20.38% 2013 20.20% 7.10% 0.70% 3.00% 2.49% 9.78% 17.26% E(R) Answer: Requirement 1 Ans(1)A prospectus is an authentic document that a company issues in order to get listed within the stock exchange. It enables to provision of the background, management and financial status for any particular company so that a decision is made if there is an investment to be made or not. It is an obvious fact that a prospectus is an official requirement so that the company should get listed on the stock exchange(Driscoll, 2010). The prospectus is needed to be lodged with Australian Securities Exchange and Australian Securities and Investment Commission. It is needed to include information that the advisers and investors are needed to make an assessment regarding the rights that are attached to the shares which is further emulated by the financial position, assets, liabilities, profit and loss and other organizational prospects. Other than this, the following are the components of a prospectus that are shown below: Overview of an investment Overview of an industry Overview of the business Financial information Major risks Key interests and benefits Offer Details Assurance Report Actuarys report Ans(2)Firstly, a company should be satisfying the minimum criteria for an admission that would include size, structure, and the number of shareholders. The admission criterion is given below: No: Of Investors or Shareholders 400 investors at a minimum level at Australian Dollars 2000 or 350 investors at a minimum level at AUS$ 2000 where 25% is to be held by the unrelated parties or 300 investors at a minimum level at AUS$2000 and 50 per cent to be held by some of the parties that is not related. Company Size Profit Test Assets Test AUS$ 1,000,000 net profit for the past 3 years plus AUS$400,000 net profit for the past 12 months or AUS$ 3,000,000 net tangible assets or AUS$ 10,000,000 market capitalization Secondly, if the companys shares are between 50 per cent and 75 per cent are held by the parties, the company should include at least 350 shareholders. When the 75 per cent of the shares are to be held by the related parties, the companies should have 400 shareholders or more.Thirdly, there is requirement of the financial reporting within the mid-year and on an annual yearly basis within Australia. Those companies that are within the companies listing category without having any revenue or profit track record are also needed to make or develop quarterly statements of cash flows.The industry for Mediabank Private Limited is Insurance. Ans(3)In accordance with the forecast exhibited in the prospectus, there has been a forecast for the dividends to be paid by the MediaBank Private Limited. They have made a statutory forecast related to the dividend payments in 2015. They intend to pay it by September 2015. The amount for the dividend is found to worth $238.8 million. This is illustrated below: As it is illustrated above, the ordinary and special dividends are found to be at $238.8 million. In accordance with the fully franked dividends, it is basically an arrangement within Australia that eradicates the dividends double taxation. The dispersion of dividends occurs with the imputations of the tax that are attached to them(Hussainey, 2011). Hence, the shareholders will be able to make a reduction in the tax paid on the dividend in accordance with the amount that is equal to the credits of the imputations of tax. Therefore, the dividend taxation has been paid partially that is paid by the company that issues the dividends. Ans(4)Currently, the commonwealth owns definitely 100 per cent of Mediabank private limited. The objective of the commonwealth when undertaking for the offer is to sell the 100 per cent shares of Mediabank private limited. But it should be confirmed that it also deserves the right to sell some of the lesser share amount within the offer. The offer would be expected to raise AUS$ 4,269 m to AUS$5508 m that is related to sale of 100 per cent of Mediabank private limited. The indicative price range is ofAUS$ 1.55 to AUS$2.00/share. More than this, not a single proceed from the offer will be attained by Mediabank Private Limited. The Australian Government has announced that the proceeds from the sale of Medibank Private will be re-invested into productivity enhancing infrastructure through the Australian Governments Asset Recycling Initiative. Ans(5)Institutional investor is an investor within Australia who is a sophisticated investor or a professional investor within the coverage of a section of 708(8) and 708(11) of the Corporations Act. Other meaning of this term would proceed within certain other jurisdictions which are also agreed by Mediabank Private and the JLMs for whom the invitations in accordance with the respect of securities can be developed without any need of registered prospectus or other document that is approved by the agency of government. In either case, provided that if such person is in the United States, they are reasonably believed to be a qualified institutional buyer (as defined in Rule 144A of the US Securities Act) or an Eligible US Fund Manager (together Institutions). On the other hand, a retail investor within Australia is the one who bids for the shares within the institutional offer via the broker through a bid that is sponsored by the Broker(Diouf, 2014). Ans(6)If the offer is closed, then the shares can be acquired through a general public offer. This offer is to be valid for the retail investors who are Australian residents. The Brokers clients can apply for the shares through the general public offer with an additional allocation to their broker firm. The minimum size of the application could have to be AUS$2000 and multiples of AUS$100 then. One can apply online by visiting www.mediabankprivateshareoffer.com.au.One can pay for shares using Direct card or BPay(ASX, 2014). There are two types of personalized paper forms. One is orange personalized application and the other is red personalized application. If that is an orange application form, then it is needed to be completed if it is requested after the pre-registration period. If the application form is red, then the paper application forms are needed to be accompanied by money order or cheques. Ans(7)It is a known fact that there are some of the associated risks with the company in accordance with the investment in any company that is listed on Australian Securities Exchange. Some of the anticipations are made which can let us know if the decision is favorable or not. They are as below: The private share price of Media Bank may fluctuate There is no prior public market for the shares Equity offerings or future debt can severely affect the shareholders incorporating through dilution General market and economic conditions may adversely affect Media Bank Private The changes in Taxation can adversely influence the returns of the shareholders The change in the standards of accounting can adversely affect the Mediabank private From the above pointers, it can be said that the decision cannot prove to be favorable if these pointers become true and realistic. Requirement 2 Ans(1) Year Shares Property Bonds Cash Portfolio X Portfolio Y Portfolio Z 1994 -8.70% -5.60% -4.70% 5.30% 0.21% -6.48% -8.04% 1995 20.20% 12.70% 18.60% 8.00% 12.71% 18.06% 19.00% 1996 14.60% 14.50% 11.90% 7.60% 10.01% 13.50% 14.45% 1997 12.20% 20.30% 12.20% 5.60% 9.71% 13.82% 13.42% 1998 11.60% 18.00% 9.50% 5.10% 8.15% 12.04% 12.46% 1999 16.10% -5.00% -1.20% 5.00% 1.52% 4.96% 12.07% 2000 3.60% 17.80% 12.00% 6.20% 9.68% 9.80% 6.15% 2001 10.10% 14.60% 5.50% 5.30% 6.31% 9.16% 10.55% 2002 -8.10% 11.80% 8.80% 4.80% 7.10% 2.64% -4.27% 2003 15.90% 8.80% 3.00% 4.90% 4.53% 9.32% 14.19% 2004 27.60% 32.00% 7.00% 5.60% 8.80% 20.24% 27.23% 2005 21.10% 12.50% 5.80% 5.70% 6.42% 13.26% 19.05% 2006 25.00% 34.00% 3.10% 6.00% 7.64% 18.04% 25.26% 2007 18.00% -8.40% 3.50% 6.80% 3.96% 6.92% 13.32% 2008 -40.40% -54.00% 14.90% 7.60% 4.36% -21.00% -39.68% 2009 39.60% 7.90% 1.70% 3.50% 3.22% 18.10% 32.95% 2010 3.20% -1.10% 6.00% 4.40% 4.49% 3.46% 2.70% 2011 -10.50% -1.50% 11.40% 5.00% 6.91% 0.06% -8.06% 2012 18.80% 33.00% 7.70% 5.00% 8.88% 17.20% 20.38% 2013 20.20% 7.10% 0.70% 3.00% 2.49% 9.78% 17.26% E(R) 10.51% 8.47% 6.87% 5.52% 42.40% 57.63% 66.80% 17.33% 19.20% 5.72% 1.27% 26.46% 19.96% 81.60% Ans(2): The anticipation of one amount being obtained on the investment that has different known or expected return rates is known as an expected return. For instance, if one invests into a stock that had a half risk of delivering a 10% profit and a half risk of having a loss of 5%, the expected return would be 2.5% (0.5 * 0.1 + 0.5 * -0.05). It is vital to note, on the other hand, that the expected return is typically based for authentic information and is not ensured. Generally, the normal return is a technique used to figure out if or not any particular investment has a positive or negative normal net result - it is not a resolute figure of profit or loss. In the stated example above the 2.5% expected return can't be acknowledged and it is simply an average. Not with standing expected return, the shareholders ought to additionally consider the likelihood of return with a specific end goal to legitimately assess risk. All things considered, one can discover examples in which certain lotteries offer a positive expected return, in spite of the low likelihood of realizing that return. The returns above calculated are an aggregate average of asset classes. However, they are also calculated separately which is illustrated below: Portfolio Bonds Cash Property Average Portfolio X 51% 64% 13% 42.37% Portfolio Y 69% 69% 35% 57.63% Portfolio Z 160% 30% 10% 66.80% For Portfolio X, the bonds have an expected return of 51%, Cash 64% and Property 13%. For Portfolio Y, the bonds have an expected return of 69%, Cash 69% and Property 35%. The Portfolio Z has a return of 160% on bonds, 30% on cash and 10% on property. Ans(3) Portfolio Bonds Cash Property Average Portfolio X 40% 50% 10% 51% 64% 13% 42.37% Portfolio Y 40% 40% 20% 69% 69% 35% 57.63% Portfolio Z 80% 15% 5% 160% 30% 10% 66.80% At 40% bonds, the return for portfolio X is 51% while at 50% cash, the portfolio X return relative to this asset is 64% while for property class of assets, the return is 13%. On an average, the return is 42.37%. In the same way, for the respective asset classes, the return is 69%, 69% and 35%. The average return is 57.63%. For Portfolio Z, the respective returns are 160%, 30% and 10% and on an average, the expected return is 66.8%. For Customer I, the portfolio Y is better because, the standard deviation is lower and hence the risk will also be lower. In the same way, for Customer II, the portfolio Z will be better because this customer is a high income earner and hence, the risk cannot matter much for this customer. While for customer III, the portfolio X is better because it has a moderate standard deviation and hence there could be few chances of the risk but the return is still favorable for this type of customer. The calculations are shown in the attached excel sheet. References ASX, 2014. Australian Securities Exchange. [Online] Available at: https://www.asx.com.au/listings/listing-IPO-on-ASX.htm. Diouf, D., 2014. Exploring Factors that Influence Social Retail Investors Decisions: Evidence from Desjardins Fund. Journal of Business Ethics, 10(1), pp.25-48. Driscoll, L., 2010. The Summary Prospectus: the most significant change to mutual fund disclosure since the Investment Company Act of 1940. Journal of Investment Compliance, 9(2), pp.26-34. Hussainey, K., 2011. Dividend policy and share price volatility: UK evidence. The Journal of Risk Finance, 12(1), pp.57-68.