White Noise Process Definition

The term white noise in economics is derivative of its meaning in mathematics and in acoustics. To understand the economic significance of white noise, its helpful to look at its mathematical definition first.   White Noise in Mathematics Youve very probably heard white noise, either in a physics lab or, perhaps, at a sound check. Its that constant rushing noise like a waterfall. At times you may imagine youre hearing voices or pitches, but they only last an instant and in reality, you soon realize, the sound never varies.   One math encyclopedia defines white noise as A generalized  stationary stochastic process  Ã‚  with constant  spectral density. At first glance, this seems less helpful than daunting. Breaking it down into its parts, however, can be illuminating.   What is a stationary stochastic process? Stochastic means random, so a stationary stochastic process is a process that is both random and never varying -- its always random in the same way. A stationary stochastic process with constant spectral density is, to consider an acoustic example, a random conglomeration of pitches -- every possible pitch, in fact -- which is always perfectly random, not favoring one pitch or pitch area over another.   In more mathematical terms, we say that the nature of the random distribution of pitches in white noise is that the probability of any one pitch is no greater or less than the probability of another. Thus, we can analyze white noise statistically, but we cant say with any certainty when a given pitch may occur.   White Noise in Economics in the Stock Market White noise in economics means exactly the same thing. White noise is a random collection of variables that are uncorrelated. The presence or absence of any given phenomenon has no causal relationship with any other phenomenon.    The prevalence of white noise in economics is often underestimated by investors, who often ascribe meaning to events that purport to be predictive when in reality they are uncorrelated. A brief perusal of web articles on the direction of the stock market will indicate each writers great confidence in the future direction of the market, beginning with what will happen tomorrow to long-range estimates.   In fact, many statistical studies of the stock markets have concluded that although the direction of the market may not be entirely random, its present and future directions are very weakly correlated, with, according to one famous study by future Nobel Laureate economist Eugene Fama, a correlation of less than 0.05. To use an analogy from acoustics, the distribution may not be white noise exactly, but more like a focused kind of noise called pink noise. In other instances related to market behavior, investors have what is nearly the opposite problem: they want statistically uncorrelated investments to diversify portfolios, but such uncorrelated investments are difficult, perhaps close to impossible to find as world markets become more and more interconnected. Traditionally, brokers recommend ideal portfolio percentages in domestic and foreign stocks, further diversification into stocks in large economies and small economies and different market sectors, but in the late 20th and early 21st centuries, asset classes that were supposed to have highly uncorrelated results have proven to be correlated after all.

Essay about Beowulf The King - 1001 Words

Many readers of the poem Beowulf may find it difficult to distinguish the good kings from the rest – indeed, almost every man who holds a throne in the epic is named at one point or another to be good. By examining the ideals of the time period as identified by the heroic code, it becomes clearer that a truly good king is one who generously distributes treasure and weaponry to deserving retainers to honour courage and strength displayed in battle and to encourage the defense of the kingdom (Intro). When Beowulf ascends the throne of the Geats, the heroic traits of courage and strength for which he was so highly praised as a warrior do not serve well in making him a good king. Indeed, by exhibiting the traits of a thane, that is, by†¦show more content†¦Hrothgars intentions are sociocentric: by employing the strength of â€Å"many peoples† (76) to build the â€Å"legendary hall† (412) of Heorot, he brings his people together and gives his people a legacy, ensuring a future for Denmark. Beowulfs main fault lies in his neglect to unite his people under his rule. He is described, like Hrothgar, as a â€Å"ring-giver† (2635), but since Beowulf himself is â€Å"too proud/ to line up with a large army† (2345-46) and he adopts the title of sole â€Å"protector† (2337), â€Å"trusting his own strength entirely† (2540), he doesnt allow his thanes the opportunity to show their courage and strength in battle. The price in gold of any treasure is inconsequential: it is its price in deeds performed to earn the treasure that matters. In other words, only treasures earned are worth something, and endowing gifts to the undeserving is akin to when the theif steals the â€Å"gem-studded goblet† (2217) from the dragons hoard: it â€Å"gained him nothing† (2217). Beowulf never realizes this as king. As he lies on his deathbed, beholding the treasure hoard of the dragon, he even gives thanks that he has â€Å"b een allowed to leave [his] people/ so well endowed on the day [he] die[s]† (3797-98). The reader sees, however, that his people are left with nothing. Even the treasure, â€Å"bought and paid for by Beowulfs death† (2843) is left in the ground, â€Å"useless to menShow MoreRelatedArchetypes And Ideals Of Beowulf And King892 Words   |  4 Pagesreaders to follow in his footsteps. The Anglo-Saxon Beowulf and Medieval Christian King Arthur display many archetypes and ideals to shape the story and make it exciting. The Beowulf and King Arthur storytellers use archetypes to create stories with suspense and have their heroes display values of loyalty to their respective listeners. Beowulf, king of the Geats, engages in battles in order to protect his community from physical creatures while King Arthur’s knights engage in spiritual battles againstRead MoreIs Beowulf A Successful Hero Or King711 Words   |  3 Pagespeople think of a successful king, they often associate them with the hero. However, many fail to notice that no one could own both the title king and the hero at the same time; they need to give up either one of the titles to become a truly successful hero or king. In the famous epic poem, Beowulf, despite Hrothgar rules Danes, another hero, Beowulf, shows up to solve Danes’ problem while the true Danes king sits on his throne and simply gives all honor and credit to Beowulf. To become a truly successfulRead MoreComparison of Hrothgar and Beowulf as Kings.1660 Words   |  7 Pagestheir definitions of a successful king for generations. The epic poem Beowulf introduces two kings: Beowulf, the protagonist of the story, the famed hero w ho slays monsters with his bare hands and then becomes king of the Geats, and Hrothgar, the king of the Danish court, who is grateful for Beowulf s help in overcoming Grendel and his mother. A king received respect for wealth, fame, and warriors, during the time in which the poem Beowulf takes place. However, a king should go beyond these basic needsRead MoreCompare And Contrast Beowulf And King Arthur901 Words   |  4 Pagespossess influence their own lives and those of the people around them, specifically like the heroes in the epic â€Å"Beowulf† and the novel The Once and Future King. Each trait that Arthur and Beowulf possessed impacted major events in their lives, such as defeating Grendel in â€Å"Beowulf† or removing Excalibur from the stone in The Once and Future King. In both literary pieces, Arthur and Beowulf embark on quests in order to save their people. For both heroes, the effects of their actions differed, as wellRead MoreComparison Between Beowulf A nd King Lear Essay2229 Words   |  9 PagesBoth Beowulf and King Lear give viewpoints of varying types of kingship at drastically different eras of Britain’s life. In the case of the former, the anonymous author portrays a war-oriented culture focused on ideals of bravery and heroism. In the second, Shakespeare presents a view of a much more aristocratic society, deeply rooted in ideals of nobility and politics. Throughout both texts, however, there is a focus laid out on the idea of what makes a good king – or, in the case of Edmund, noblemanRead MoreLeadership in Beowulf, Oedipus the King, and Antigone1860 Words   |  8 Pagesthree stories of Beowulf, Oedipus the King, and Antigone. Beowulf is a poem that was written in the Anglo-Saxon language that tells of Beowulf, a Geatish hero who fights the monster of Grendel, Grendels mother, and even a fire-breathing dragon. Beowulf fights with determination and follows the way of his predecessors by only fighting with his bare hands. As a young man, Beowulf is a strong warrior, but as he grows up he turns into a wise and noble leader. Throughout the story, Beowulf greatly personifiesRead MoreThe Role Of Government In Beowulf And King Arthurs Society1629 Words   |  7 PagesAlthough the role of the government found in Beowulf and in King Arthurs societies had basically the same functions (to protect the people from invasion and provide safety and order within the community), each government was set up with some drastically different ideologies. The ideologies that perhaps governed the formation of each government were defined easily by the time periods in which each work was written. Both governments describe leader s (Kings) who are honorable and kind to their peopleRead MoreThe Hero Of Heroes, Beowulf, And The King s Land1180 Words   |  5 PagesGeat in King Higlac’s land. Five moons have risen since the departure of the hero of heroes, Beowulf, and the fourteen strongest Geats in the clan to kill a monster plaguing King Hrothgar’s land. This absence has left Geatland in great peril, and word has spread across the region about the increased vulnerability of the Geat clan. Because of this, warring tribes against the Geats planned to seize control of the once secured land. In preparation of the knowingly inevitable attack, King Higlac hadRead More Essay Comparing Beowulf and The Saga of King Hrolf Kraki976 Words   |  4 PagesBeowulf and The Saga of King Hrolf Kraki      Ã‚   There are so many similarities between the hero of the poem Beowulf and The Saga of King Hrolf Kraki, an Iceland saga representing 1000 years of oral traditions prior to the 1300’s when it was written, that these similarities cannot be attributed solely to coincidence.    The Cambridge History of English and American Literature states that the hero of the poem, Beowulf himself, may be the same person as Bodvar Biarki, the chief of HrolfrRead More A Comparison of Fierceness in Beowulf and in The Saga of King Hrolf Kraki1787 Words   |  8 PagesFierceness in Beowulf and in The Saga of King Hrolf Kraki      Ã‚  Ã‚  Ã‚   Is fierceness mentioned only in Beowulf or is it an element common also to this famous Icelandic saga? Is fierceness described the same way as in Beowulf?    The Anglo-Saxons prior to 1000AD were as a race fierce. They possessed great courage. Beowulf reflects their fierceness and courage in a variety of ways. Beowulf complains to Unferth in the Danish court: â€Å"Grendel would never have done such horrors †¦ if you were so

Reducing Cost In Transportation Industry †Myassignmenthelp.Com

Question: Discuss About The Reducing Cost In Transportation Industry? Answer: Introducation In marketing, creative problem solving greatly assists in the identification of the problem from the definition stage to the implementation of solutions. Problem identification is the most imperative step in the CPS because in many of the cases, what people feel is the problem is not the problem (Draze, Crawford, Crawford, 1986). In this case, the main problem is the reduction of cost in the transportation industry such as shipping by lower consumption of fossil fuel. Problem delineation Problem delineation refers to the description of the problem at hand. In this, one needs to describe the causes of the problem, its impacts and the measures that have been taken towards attaining the solution to the problem. It assists in gaining a deeper understanding of the problem after it has been identified and thus assists individuals to know the best approach that they should consider taking so that they can solve the problem at hand (Filho, 2017). Information gathering This entails carrying out a detailed research so that one can be in a position to obtain relevant information regarding the issue. To solve a problem, one needs to obtain information how other people have been in a position to solve that problem before, the tools required, and the duration of time required to solve the problem and also the cost. Obtaining the background information greatly assists one in the implementation of the new technology that is available to them and their unique experience and knowledge to assist in the identification of a solution that is faster, better and cheaper (Treffinger, Isaksen, Dorval, 2006). Idea generation This step is usually associated with creativity and brainstorming in problem-solving. To solve the problem of reducing the transportation costs, there is a need to write all ideas that come into the mind of an individual irrespective of how ludicrous or stupid the idea is towards solving the problem. If working alone, one should raise many ideas that are sufficient enough. When many people are involved in the generation of ideas, none of the individuals should be allowed to criticize others ideas to avoid discouraging all the people in the group from sharing creative ideas (Jie, 2005). Idea evaluation After generating ideas, they should be combined for evaluation. In this, one needs to go through the ideas and combine the ones that are related to form big ideas. Using the criteria devised for use, one should choose the ideas that broadly meet the criteria. After selecting these ideas, one should consider going through them and determine how well they are likely to meet the criterion while giving them ratings. If the ideas fall short of the criterion, one should think of the ways of improving them. After evaluation, all the ideas will have a score, and the ideas with the highest scores are the ones considered to have met the criteria even though they are not likely to be the best ideas according to an individual, they have higher chances of solving the problem at hand or assisting in the achievement of the desired goal. Profile of sustainable offering To make the offering sustainable, there is a need to look deep into the transportation costs and come up with ways of cutting the costs down. The teams in the transportation sector should work together so that they can come up with methods of transportation that consumes fewer fossil fuels. They need to engage in a rigorous discussion and carefully look into the whole picture before they can give suggestions on the ways that can be implemented to reduce the costs. Environmental analysis Environmental analysis to a strategic management tool and also the process that is employed in the identification of all the external as well as internal factors affecting the performance of an organization (Kleibo?hmer, 2001). In this, there is a need to assess the available opportunities or threat that the organization may be having or prone to respectively. Environmental analysis should be carried out in the process of solving the problem of reducing the transportation costs so that the evaluations can be employed in the process of decision making (Reeve, 2002). This strategy greatly aids in ensuring the strategies in the firms environment are aligned in such a way that they will assist in the reduction of the transportation costs. Market and customer analysis Market analysis refers to the identification of the competitors that are operating in a certain market. On the other hand, customer analysis refers to the identification of the target customers which is aimed at conveying the customers needs and show how the products and services meet the needs of the customers (Schnaars, 1998). Market analysis, in this case, aims at looking at the other cheaper and viable options that can be used instead of fossil fuel. Customer analysis will be employed to determine the number of vehicles that use the expensive fossil fuel and their willingness to adopt an alternative option. Executive summary The transportation sector is a very important part of any country. Transport facilitates the movement of goods and people from one location to another. However, the costs of transport are very high, and this poses an impact of the goods transported in the country in that it tends to increase the prices of the goods transported to cater for the cost incurred. Reduction of the transportation costs is thus very important in that it allows for effective movement of goods and services. Lowering the use of some products such as fossil fuel can reduce the costs of transportation in that fewer costs will be incurred in the shipping process. Current Situation In the modern society, there has been an increasing rise in the transportation costs due to factors such as an increasing demand for goods and services among others. This has contributed to the incurring of higher transportation costs. Due to the impacts and costs incurred in the transportation, there has arisen the need for reducing the costs of transportation which can be achieved through reducing the consumption of some products which demands regular transportation such as fossil fuels in shipping mode of transport. Objectives The objective of this research is to reduce the costs that are incurred in the transportation industry. These entail ensuring that low amounts of fossil fuels are used in the process of goods and services transportation. Target market The target customers, in this case, are the people who operate in the transport industry. This is because they are the only people who can assists in the reduction of the transportation costs by ensuring effective planning and eliminating the unnecessary traveling schedules. Marketing Strategies Marketing strategies assist individuals in sparking their creative energy and setting their resources regarding time and money to develop and also maintain a marketing campaign that is in line or reverberates with the audience intended (McIntyre, Ivanaj, Ivanaj, 2013). The marketing strategies that I will employ to ensure the reduction of the transportation costs include the following; Positioning In this, I will ensure that the advertisements aimed at creating awareness to the people in the transport industry are strategically placed in that they are made in times of the day when the target individuals are in the vehicles either transporting the goods or ferrying customers to their desired locations (Paley, 2005). Product strategy In this, I will look into the education of the people in the transport sector on the need to cut down their transportation costs and also the positive impacts that are associated with it. This will greatly act as a driving force on to why people should adopt transportation using cheaper alternatives and also reduce the unnecessary trips. Pricing strategy Pricing strategy refers to the setting of the prices for the products. In this, I will encourage the use of low-cost transport alternatives regarding fuel. In this, I will thus look towards the subsidization of the prices of the prices of these products so that they can be attractive to the people. Placement strategy This depicts the delivery of the products and services to the desired customers. In an attempt to reduce the transportation costs, I will look for a way of regulating the shipping of products Promotion strategy This entails the methods and activities that can be used in the promotion of the business and products and this case in the reduction of the costs of transportation. This can be achieved by public relations, advertising and direct marketing (Dibb, Simkin, Bradley, 1996). Marketing implementation To ensure effective implementation, I will make sure that I set the right expectations, build the team and ensure there are adequate resources, communicate the plan to all the individuals involved, build out tasks and timeline, set up a dashboard for tracking success, monitor and check in regularly, be willing to adapt to the change and lastly ensure that the results are communicated, and success achieved celebrated (Esakki, 2017). Budget Adequate resources should be put up to assist in overseeing the marketing and the implementation of the plan effectively. The resources will be channeled to the training forums, marketing efforts and also in the implementation stage to ensure effectiveness. Evaluation control Evaluation as a marketing step usually focuses on the analyzing both the quantitative and qualitative metrics that are associated with the implementation and the strategy. These two are considered to be the final phases of strategic management. Evaluation will be carried out to check on the effectiveness of the strategies in the achievement of the organizational objectives. On the other hand, control will assist in ensuring that a corrective action is taken when the need arises (McLoughlin, Aaker, 2010). References Dibb, S., Simkin, L. Bradley, J. (1996). The marketing planning workbook : effective marketing for marketing managers. London: International Thomson Business Press. Draze, D., Crawford, D. Crawford, P. (1986). Primarily problem solving. San Luis Obispo, CA: Dandy Lion Publications. Esakki, T. (2017). Green marketing and environmental responsibility in modern corporations. Hershey, PA: IGI Global. Filho, W. (2017). Sustainable development research at universities in the United Kingdom : approaches, methods and projects. Cham, Switzerland: Springer. Jie. (2005). Market research handbook ; management, approach and practice. Lincoln, NE: iUniverse, Inc. Kleibo?hmer, W. (2001). Environmental analysis. New York: Elsevier. McIntyre, J., Ivanaj, S. Ivanaj, V. (2013). Strategies for sustainable technologies and innovations. Cheltenham Northampton, Massachusetts: Edward Elgar. McLoughlin, D. Aaker, D. (2010). Strategic market management : global perspectives. Hoboken, N.J: Wiley. Paley, N. (2005). The manager's guide to competitive marketing strategies. London: Thorogood. Reeve, R. (2002). Introduction to environmental analysis. New York: Wiley. Schnaars, S. (1998). Marketing strategy : customers and competition. New York: Free Press. Treffinger, D., Isaksen, S. Dorval, K. (2006). Creative problem solving : an introduction. Waco, Tex: Prufrock Press.

Wal-Mart Case free essay sample

What are some of Wal-Mart’s FSAs? To what extent are these FSAs location-bound or internationally transferable? Some of the FSAs of Wal-Mart are its ‘every day low price’ (EDLP) philosophy and its so-called ‘exceptional service’. The EDLP and the service seem to be internationally transferable FSAs, because they can be copied to other countries. The EDLP is based on efficient distribution systems, very innovative technology, low prices negotiated with suppliers and efficient processes with suppliers. Those strategies are developed in the USA and can be transferred across borders. Just like the ‘exceptional service’, which includes smiling at customers, assisting them and exceeding their expectations, which are a set of rules for the employees, does not seem to give any problems when they are transferred across borders. But although those FSAs can be transferred to other countries, they are not working in Germany, due to cultural differences. So therefore the FSAs are location-bound, because they are efficient in the culture of the USA but not in the culture of Germany. We will write a custom essay sample on Wal-Mart Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The FSAs are location-bound when they cannot be implemented in the local culture of the host country. 2. What distance components (relative to the US) do American retailers face in Germany? Give examples. How did these distance components affect the exploitation of Wal-Mart’s FSAs transferred to Germany? American retailers in Germany cannot only rely on their suppliers in the US, some products need to be sourced locally. For instance, vegetables and local products need to be bought from local suppliers, because vegetables need to be fresh, they do not improve in quality when they are transported from the USA, and local products are not produced in the USA, like Bratwurst, so they have to be bought locally. Also Wal-Mart had to source locally or regionally for some of its products offering, but because of this and the small size of Wal-Mart Germany and its inability to expand rapidly made it impossible to reduce costs so as to provide everyday low prices. Due to the small size of its German operations, Wal-Mart could not gain power over suppliers when purchasing German or other European products. So, a number of suppliers did not comply with the requests of Wal-Mart. Wal-Mart wanted to be successful with its ‘every day low price’ philosophy in Germany, but it did not work out the way they wanted it to. The loss-leader strategy of Wal-Mart, a pricing strategy in which one item is sold below cost in order to stimulate other, profitable sales, was judged illegal. Therefore Wal-Mart faced great difficulties by transferring their low-cost FSA to Germany. 3. Did Wal-Mart overestimate the transferability of its FSAs? Yes, we think that Wal-Mart overestimated the transferability of its FSAs. The case study makes clear that Wal-Mart assumed that its culture (i. e. its EDLP and its ‘exceptional service’) could be transferred to Germany without problems, but this was not the case. The low prices of Wal-Mart could not be transferred to Germany, because of several different reasons. Germany’s fair trading and antitrust laws made it impossible for Wal-Mart to use its loss-leader strategy and they made Wal-Mart raise its prices. More of Germany’s regulations caused problems for Wal-Mart’s expansion in Germany and high prices were the consequence of this. Wal-Mart’s ‘exceptional service’ also did not work in Germany. The case study explains that Wal-Mart’s services like smiling at each customer and grocery bagging were not appreciated by the Germans, so this FSA was not transferable as well. Wal-Mart could have known that these problems would appear by doing research in advance, but it did not do that and this shows that it overestimated its FSAs. 4. Can you provide an update on Wal-Mart’s international expansion, using materials available on the Web? Wal-Mart currently operates in 15 countries: Argentina, China, Honduras, Nicaragua, Brazil, Costa Rica, India, the UK, Canada, El Salvador, Mexico, Japan, Chile, Guatemala and of course the US 1. After Wal-Mart’s failure in Germany and South Korea, it started focusing on Asia and Latin America. However it can expect to experience similar challenges in its new countries like it experienced in China, India and of course in Germany and South Korea. The regulations of these countries formed a problem for Wal-Mart, but Wal-Mart states that it has learnt a lesson from its failures in Germany and South Korea 2. It has developed a new way of thinking. It does not simply copy its US stores and plant it in another country anymore, but it focuses on the local circumstances 3. Wal-Mart’s new strategy apparently works, because it was the world’s largest retailer in 2010 4.