Organizations Become More Global Free Essays

To some the word â€Å"Globalization† may seem a clichà ©. To others, it may appear an end in itself. Competitive pressures are creating the need for most companies to become Global. We will write a custom essay sample on Organizations Become More Global or any similar topic only for you Order Now Globalization is one means for  becoming and remaining a world-class competitor — a goal encased in the mission statements of most corporations. When developing a globalization strategy, it is clear that the emerging markets present the greatest opportunity. The growth projections for Europe, Japan and the United States pale in comparison to some of the emerging markets. Emerging Markets Throughout the emerging markets an unprecedented consumer market boom is driving up demand for western-style goods and services. The largest segment of consumers in these markets is a decade short of its peak spending years. In India alone, sales of consumer goods are rising at 14% per year, while China is growing at almost 20% per year. Couple the consumer-spending boom with the still burgeoning need for infrastructure improvements and you’ll have a range of opportunities that extends into the trillions of dollars. Projects are planned or underway in many of these countries to upgrade transportation and  telecommunication systems, explore energy resources, build power generation facilities and provide health care facilities. In addition, the privatization efforts are presenting an incredible range of opportunities for investors, lending institutions, service providers and manufacturers. Four key trend influence emerging market potential There are four key trends that are influencing the emerging market potential: 1. Demographics: Overall world population growth is now concentrated in the  developing world. Where industrial nations are facing an  increasingly older population, the emerging markets remain  young. The developed world comprises only 11% of the world’s population. 2. Governments: Many countries that once relied on centrally planned economies are becoming market-driven. Industries that governments  previously restricted to foreign companies are now opening to foreign investment. 3. Communications: Access to the emerging markets is increasing due to huge  developments in communications technology such as the Internet and electronic commerce. Cyberspace represents a profound shift in the nature of communications as well as our perception of distance. 4. Urbanization: As infrastructure improvements are made, urban growth in the emerging markets will continue to explode.  Estimates indicate that the emerging markets’ share of world imports will double by the year 2010, rising to over 38%. Companies dazzled by the magnitude of these numbers must be equipped with the appropriate knowledge, information, and strategy to make its market forays successful. MACRO LEVEL Industry Globalization is due to such factors as : †¢ Level of international trade †¢ Intensity of international competition †¢ Worldwide product standardization †¢ Presence of key competitors in all key international markets. †¢ Intra-firm trade †¢ Technological intensity †¢ International linkages of value-added activities among countries †¢International integration of value-added activities among countries †¢ WORLDWIDE FREETRADE AGREEMENTS †¢ WORLDWIDE ECONOMIC REFORMS †¢ WORLWIDE FINANCIAL REFORMS †¢ REMOVAL TARIFF BARRIERS BY COUNTRIES †¢ REMOVAL OF SUBSIDIES COUNTRIES †¢ ETC ETC ==================================================== THE PUSH FACTORS OF GLOBALIZATION Market Drivers †¢ Per capita income converging among industrial nations †¢ Convergence of lifestyles and taste †¢ Growth of global and regional channels †¢ Establishment of world brands †¢ Spread of global and regional media Cost Drivers †¢ Continuing push for economies of scale ( but offset by flexible manufacturing) †¢ Accelerating technological innovation †¢ Advances in transportation (e.g., use of FedEx to deliver urgent supplies from one continent to another) †¢ Emergence of newly industrializing countries with productive capability and low labor costs (e.g., China, India and Indonesia) How to cite Organizations Become More Global, Papers

Internet in the Market Is Netflix INCâ€Free Samples for Students

Question: Will Netflix Remain The Dominant Provider Of Online Video Streaming? Answer: Introduction The leading subscription of internet in the Management is Netflix Inc. They are providing service for movies and rentals for TV shows. In United States and Canada the company has already established itself in their specific sector as valued competitor. It has near about 20 million subscribers in the above mentioned country. Netflix Inc is offering a huge library in the box-office hits accompanied with the TV shows which has won the awards and the timeless classics for the subscribers. The subscribers have the access to stream unlimited content through the internet by paying 7.99 dollars per month. If there is unavailability of streaming the company supplies the content in DVD version that could be overnight shipped. The revolution has been introduced by Netflix by renting the movies and this method is surely a biggest movement in the sector of internet subscription. The corporation is the worlds leading as well as largest network of internet television which has about 86 millions customers for over 190 countries. The customers subscriptions for the movies have the chance to watch the movies as many number of times they wish at any location on the screen connected to internet. The customers also have the facilities to play and pause the movies at their will without any commitments. The operation of the business is conducted by the company with the help of the segments like domestic video, international and domestic streaming. The company get the content from different studios and from the content providers with the help of fixed-fee license and agreements of revenue sharing linked with the direct purchase ("Netflix Story - Profile, History, Founder, CEO | Media Companies | SuccessStory" 2016). The services of Netflix are been marketed by various channels such as online advertising, social media, television, radio and various other partnerships. The companys mission is is "Our appeal and success are built on providing the most expensive selection of DVDs an easy way to choose movies and fast, free delivery." The companys vision is to change the way people access and view the movies they love." Background of Institution History The starting as well as introducing the idea on Netflix was ignited at the time when Reed Hastings, a software executive was been charged 40 dollars as a late fee of returning the videotape of Apollo that was overdue. Software executive Reed Hastings then with the help of Marc Randolph established Netflix Incorporation in 1997. The Incorporation was established in Scott valleys in California. At the time of establishment Reed Hastings was been adjudged as chairperson of incorporation and Marc Randolph was taking the responsibilities as CEO of the company (Said 2016). During the foundation of the company DVD has started in the market and was not that popular. As many of the Normal, Mortal and Brick retailers failed in carrying out this form of media, therefore Netflix Inc was having a benefit for opposing the competitors by adapting and implementing the technology of DVD. The small size and light weight of DVD in comparison to VSH tapes helped in reducing the expense of shipping. Netflix started the operations in April 1998 by providing seven-rental movies in the format of DVD which was still solely new. Fortunately, DVDs were making strides in a brisk progression as clients turned out to be more educated about quality and in addition the accommodation of such an arrangement. In September 1998, Netflix already had amassed library having excess of 2000 titles. In the last week of September, Reed Hastings was been adjudged as CEO for Netflix and a significant increase in sales by demonstrating 10000 copies of president Bill Clinton's Grand Jury declaration in Clinton's Lewinsky issue that was been charged for two cents for each copy and additional $ 2 for transportation ("Netflix Story - Profile, History, Founder, CEO | Media Companies | SuccessStory" 2016). On inverse side, Netflix got a few negative reputation and additionally negative press is been received from every media when little bits of their DVDs were discovered for containing explicit entertainment material. It was guaranteed by the DVD manufactures that it was just a mistake and information was been misplaced, the organization was to make a declaration where they state that they would be offering rentals entirely and never again take part in DVDs selling. In November 1998, the organization included Patty McCord in the team, and his designation was Chief talent officer. After two months, the organization appoints Neil Hunt and designated him as Chief Product Officer. Both McCord and Hunt had become the integral part of development as well as improvement for organisation (Fedrick 2016). Netflix Incorporations in March 1999 shifted the operation operations at Los Gatos in California which till date is headquarter of the company. Months after the fact, Netflix Incorporation included Barry McGathy in the list of talent as Chief Financial Officer. Netflix Company started model of subscription which Reed Hastings had planned on December 1999. The organization still uses the model in the recent time and providing DVD rentals to a low month to month expense of membership bY January 2000 the organization made an improvement and propelling of personalised movie and recommendation system of video which would alter every time the motion picture and sector of video rental. The framework was for aggregating the appraisals as the motion pictures and in addition recordings evaluated by other organization individuals and gone about as a wellspring of match making administration for the forecast of view motion picture tastes. In 2000 spring, the organization employed Leslie Kilgore as Chief Marketing Officer along with Ted Sarandos as Chief Content Officer. 2001 was special for the organization since they turned into the main online film rental administration to wander into finish and entire income offering contracts to DreamWorks SKG and also Twentieth Century Fox together with all inclusive studios. Likewise, Netflix Company declared partnership with Best Buy giving up presentation to chains of major electronics of around 1800 stores broadly. The year that took after which was 2002 in May, Netflix included its first offering of public (IPO) of 5.5 million offers for the cost of $15 per share. The organization likewise exchanged on NASDAQ under the ticker symbol NFLX. Right now, the organization had more than 600000 subscribers. In December 2005, the organization's subscribers had extended to a noteworthy 4.2 million subscribers, and following two years, Netflix Incorporation detonated to 6.3 million repeating customers up more than 51 % from 2005. January 2007 represented to be the most imperative circumstances for Netflix Inc. The organization reported that it would include another element which empowered films and additionally TV programs to be spilled with prompt impact to subscribers PCs. This element gave the organisation the competitive advantages over the other. As July 2009 drew closer, Netflix had already dealt with different essential business including much development and additionally benefits to their primary concern. The organization was presently a standard element on VIZIOs line of web TVs. Netflix, additionally, became accessible on Samsung as well as TiVos and also as a standard component on Microsoft Xbox 360 alltogether with Sonys plays station. The year 2010 finished with more than 20 million subscribers, and it is as of now present on no less as 200 distinct gadgets such as Apple's iPod touch, iPhone with iPad. Netflix Inc ("Netflix Story - Profile, History, Founder, CEO | Media Companies | SuccessStory" 2016). is globally the first as well as sole organisation to give its entire library of streaming of movies to mobile devices. Rise of Netflix Changing Technology From 1997 the organisation introduced the rentals of online movies. The company achieved the growth slowly and the services expand from unlimited rentals for subscription of one month. In recent times the companys services is in 60 million homes of subscriber. The company also discovered the way of responding to the change in demand for more and more content in online (McDonald and Smith-Rowsey 2016). Netflix engaged in partnership with the companies doing business in electronics sector in order to have availability of content on the devices connected to internet. The streaming of the TV series was been made in reality by Netflix. The advantages of the video streaming provided by Netflix are: Low costs of operation Agility as well as efficiency Scalability Higher availability On the concerned of changing technology the organisation has already increased the bandwidth of the network and having upgraded equipments. The company summed up for 37% of the total bandwidth downstream internet in Northern America as the time of peak periods. The demands of wireless devices are also the same. The use of devices like phone, , e-reader, tablets and laptops has been increased in last decades (Dorfman 2016). Mobile device which is too shipped globally is projected for contributing near to 2million. Changing technology helps in reducing the caching of video edges present in aggregation network. The caching solution has the tendency of tracking the videos that are sent over Internet Service Providers pipes and the important contents of the caches copies. The request form any user is been answered quickly form cached copy which avoids it to reroute the path back. The implementation of services based on Ethernet QoS is also been conducted. Ethernet helps in providing wide granular bandwidth variety and the alternatives of QoS. Changing technology also helps in accelerating the application of technologies like NFV and SDN. Network Functions Virtualisations as well as Software Defined Networking helps in optimisation of traditional networks for the services of video streaming. Opertaing Online Netflix Inc provides organisation which is truly virtual as an alternative for classic television. The communication for the viewer is somewhat twisted. The methods of collecting data are been turns inside out in the same way. Therefore, no longer it remains as the network of television for selecting sample audience for supplying significant opinions and informations regrading the offered programs (Tryon 2015). The application of web 2.0 of television allows the company for collecting the information automatically and that concerns the use of individual and the service of company together with interaction of users on the companys advertising (Ciufoli 2015). Pricing Strategies Netflix took a decision on July 2011 for raising the price of monthly subscription on streaming services and combined DVD services. In order to make the service better the company split the services in two segments: Netflix due to streaming and Qwikster for DVDs (Murphy 2011). This two segments made the customers apply for both the accounts if they requires both the streaming and DVDS (Ip 2016). Customers respond swiftly and fiercely in the social media after the pricing strategies were been revised by Netflix. Netflix Innovations Open Connect Open connect helps in delivering 100 percent of traffic in the video. In recent times it is seen that around 125 millions hour per day is available for viewing. It is equivalent of tens of terabits for every second of traffic at the time of simultaneous peaks. The devices of open connect are the servers of custom building caching which are been placed in the information centres of the main ISP and exchanges of internet globally (Dimalanta 2016). The company invested in networks of content delivery that allows the company for the better supplier of content through internet and therefore the cost is reduced and the effectiveness is increased for Netflix and its Internet Service Providers partners (Kovas and Lansen 2015). Encoding Per-title Encoding per-title helps in delivering the videos of high qualities in the condition of low bandwidths. In the condition of low bandwidth encoding per-title helps in giving excellent quality of the video for titles having simple elements. Adaptive streaming This specific technology helps in adjusting the quality of pictures for ensuring that the picture is appearing is of the best quality in spite the speed of downloading by selecting encoded videos from set at different bitrates. Battling Buffering Netflix is trying hard for addressing the biggest issues faced by human during the access of the internet. This issues faced at the time of accessing the internet is called buffering. Netflix still remains the leader in the field of streaming services in spite of the fact that there is a report which stated the growth of the company is slow than expected in recent times. According to the report of May 2015 around 52.6 million of people in America are using the service of Netflix according to the data provided by Nielsen (Wang 2015). The data exhibits that the company is enjoying the dominant position still now as they are holding the advantage of first mover for the increase in competition of subscription video in the market. Netflix Strategy Netflix utilises the strategy by advertising as well as original programming. The organisation relies on the mouths words for providing excellent original content. Thewy utilises banners for the sake of advertisement. The media coverage helps in creating craving for subscribers and this ensure the dominant position of company still prevails. In the market of Latin America, company utilises the outdoor billboards. Localisation is been utilised by company for becoming sure that they are still the dominant in the market (Herring 2015). The method of localisation can be described with an example that if the organisation targets the market of Italy they will produce the show having Italian cast. Original programming as well as content plays significant role in the effort of the company for gaining more and more international subscribers for remaining dominant in their field. The organisation uses the library containing unique as well as original programs for attracting customers and ensur ing its dominancy in market. The company is enjoying the position to keep up alongside the ambitious plan for transmitting its rental corporation of DVD to the major ISP of provisions of streaming. Netflix Current Performance In 2015 the share of Netflix has been doubled and this helps in placing the stock at an adjusted split. This performance makes it the best performer in the year till date in the index of S P 500 ("Netflix : Financial Statements" 2016). The company gained successful quarter when it comes in the field of content. Besides the organisation gaining popularity for programming such as House of Cards third season as well as Unbreakable Kimmy Schimdt, the company has also upgraded the hardware technology to a higher level. In the year of 2015 the revenue of the first quartile was 1.57 billion dollars. Per share of adjusted earning was around 0.77 dollars and per share profit of GAAP was 0.38 dollar. The report of the organisation also stated that the total base of the user increased to 62.3million which is more than 4.9 million as compared to the last quarter of the last year. The increase of users was computed and found out that 2.3 million domestic individuals have subscribed as the user an d 2.6 million of non domestic individual have taken the new subscription. The company could have maintained the distribution service of DVD that is mail based as the segment contributed for 85 million dollars of profit in the first profit quartile as it contributes the generation of revenue up to 5 percent. Evaluating the balance sheet which starts from 31st March 2014 to 30th September 2016 it is been clearly seen that there is a steady increase in the growth of total assets ("Netflix, Inc. - Annual Report" 2015). In 2014 by computing it was found that the total assets amounted to be 6032503 dollars and on 30th June 2016 it was calculated the total assets is summing up to be 11593507 dollars. This increase was totally noteworthy and it was also seen the increase of the summed liabilities is also significant from June 2014 to 2016. Future of Netflix The organization is fixated on taking off more unique programming content instead of what most clients know. The organization planned of presenting over 600 hours of unique and original content that is amazing. The organization has likewise made a move to provide the content for every category of viewers. In upcoming years, the organization wants to raise the stakes. Netflix' vision for future is around 50% of the content would be made out of unique programming content. The organization's point concerning programs was to achieve a 50/50 part among unique programming and in addition authorized material (Auletta 2014). Netflix Inc. additionally made a declaration that they have already dealt with three digital Television organizations in order to make viewing Netflix as simple as altering channels. In this agreement, the cable organizations like RCN and in addition Grande Communications both with Atlantic Broadband is offering access for services of organisations which will be straight from set top boxes of TV. In future the subscribers will need to have specific TiVo box which is offered by organizations of cable, and they should have Netflix Inc. Account. The organization additionally has a plan of consuming through practically $1 billion in real money and additionally depends on obligation to continue powering development (Engel 2014). In future, organization will likewise square administrations that enable customers to sidestep the territorial limitations on what kind of substance they have they can see. The organization has arrangements of additionally discharging more shows in following quarters when contrasted with many systems and will incorporate more programming of mainstream. Conclusion Netflix Inc. is main subscription service provider for internet of films and TV show rentals. The organization has situated itself as an esteemed rival in the segment and has more than 20 million endorsers in United States and Canada. The motivation for beginning and thinking of the possibility of Netflix was started and touched off when software executive named Reed Hastings was been charged $40 for late expense for giving back video tape of Apollo. The changing innovation gives Agility as well as Efficiency, Scalability and high accessibility and in addition Low costs for operation. Netflix settled on a choice of raising its month to month subscription for consolidated DVD and additionally services of streaming. Their advancements incorporate per-title encoding, open connect and additionally buffering (Ani et al. 2017). Netflix remains pioneer services of streaming regardless that it announced a much slower than anticipated endorser development rate currently. Netflix utilizes the technique of promoting and unique programming Reference List Ani, F.G., Gnther, D., Wang, B. and Bondarenko, I., 2017. A StrategicManagement Analysis of Netflix Inc. Auletta, K., 2014. Outside the box: Netflix and the future of television.The New Yorker,3. Ciufoli, J., 2015.The Online Streaming Phenomenon - Netflix and the business model advocating for virtual work in the decadent industry of television broadcastin. Retrieved 22 May 2017, from https://www.linkedin.com/pulse/online-streaming-phenomenon-netflix-business-model-virtual-ciufoli Dimalanta, C., 2016. Netflix Innovations: From Real-Time Viewing to a Buffer-Free Future. Retrieved from https://www.manilamillennial.com/2016/11/04/netflix-innovations-from-real-time-viewing-to-a-buffer-free-future/ Dorfman, A., 2016. 5 ways Netflix is changing telecom networks. Retrieved from https://www.telco.com/blog/5-ways-netflix-changing-telecom-networks/ Engel, L., 2014. Netflix, une rvolution?.Esprit,Octobre(10), 133. https://dx.doi.org/10.3917/espri.1410.0133 Frederick., 2016.Netflix Company History.More Description. Retrieved 22 May 2017, from https://www.moredescription.com/netflix-company-history/ Herring, A., 2015.How Netflix is Winning at Content Marketing.Pace. Retrieved 22 May 2017, from https://www.paceco.com/insights/strategy/netflix-winning-content-marketing/ Ip, E., 2016, July. PRICING STRATEGIES FOR THE ONLINE MEDIA STREAMING INDUSTRY. In2016 Global Marketing Conference at Hong Kong(pp. 890-891). Kovacs, G. and Jansen, J., 2015. An Analysis of Strategies by Netflix in the Television Market. McDonald, K. and Smith-Rowsey, D. eds., 2016.The Netflix effect: Technology and entertainment in the 21st century. Bloomsbury Publishing USA. Murphy, E., 2011. Netflix pricing strategy. Retrieved from https://blogs.harvard.edu/cqtwo/2011/07/14/netflix-pricing-strategy/ Netflix : Financial Statements. (2016).Ir.netflix.com. Retrieved 22 May 2017, from https://ir.netflix.com/financials.cfm?CategoryID=282 Netflix Story - Profile, History, Founder, CEO | Media Companies | SuccessStory. (2016).Successstory.com. Retrieved 22 May 2017, from https://successstory.com/companies/netflix-inc Netflix, Inc. - Annual Report. (2015).Ir.netflix.com. Retrieved 22 May 2017, from https://ir.netflix.com/secfiling.cfm?filingID=1065280-15-6 NFLX - Netflix Company Profile - CNNMoney.com. (2016).Money.cnn.com. Retrieved 22 May 2017, from https://money.cnn.com/quote/profile/profile.html?symb=NFLX NFLX : Summary for Netflix, Inc. - Yahoo Finance. (2016).Finance.yahoo.com. Retrieved 22 May 2017, from https://finance.yahoo.com/quote/NFLX?ltr=1 Said, A., 2016. A Short History of the RecSys Challenge.AI Magazine,37(4). Tryon, C., 2015. TV Got Better: Netflixs Original Programming Strategies and the On-Demand Television Transition.Media Industries,2(2). Wang, C. (2015).Overwhelming majority of people watching streaming services still choose Netflix.CNBC. Retrieved 22 May 2017, from https://www.cnbc.com/2016/07/21/overwhelming-majority-of-people-watching-streaming-services-still-choose-netflix.htm

Multiple Sclerosis Not Everyone Who Falls Down is a Klutz free essay sample

This paper gives an overview of the symptoms and causes of multiple sclerosis. It includes illustrations of myelin sheathe damage, authors personal experiences with MS, and in-depth descriptions of three drugs commonly used to treat MS. This is a concise paper explaining the symptoms of MS as well as the difficulty involved with diagnosing the disease. It explains the cases for some accepted potential causes and also examines the different types of MS. The three drugs used most commonly to treat MS Avonex, Copaxone, and Beta-Seron are compared and contrasted, and the pros and cons are duly noted. Paper written by an MS sufferer who also details her own experiences with the disease. In normal human beings, the immune system will spot and attack threats to the human body, like viruses or harmful bacteria. In a person with MS, the immune system sees myelin as one of these threats. Immune system cells come into the central nervous system and start attacking the myelin sheath, creating an autoimmune response when the human body attacks itself. We will write a custom essay sample on Multiple Sclerosis: Not Everyone Who Falls Down is a Klutz or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page On these demyelinated areas, lesions known as plaque develop. The plaques eventually turn into scar tissue, sclerosis, in many different locations, which is where the name multiple sclerosis comes from. Thus, people with MS are more or less walking around with scars on their nerves.

Griffith Observatory Report Essays - Radiation, Planetary Science

Griffith Observatory Report Essays - Radiation, Planetary Science June 30, 2015 Astronomy Griffith Observatory Report After going to Griffith Observatory, I feel I had learned almost too many facts. The exhibits, as well as the workers who were walking around, answered most of my questions. I was able to clear up any misunderstandings I had before. Living right next to the beach, I had to get used to the tides raising and lowering. The waves would always grow much bigger during the late afternoon. I learned that this happens because of the gravitational pull from the Moon and the Sun. The Observatory has this enormous layout of deep space on the wall of one of the rooms, called The Big Picture. This is the largest astronomical image ever put on display. Embedded in the picture are hundreds of thousands of stars from our own Milky Way Galaxy, along with a million other galaxies, and nearly a thousand quasars. I also learned that the photo was taken with the Samuel Oschin Telescope, by a team of astronomers from Caltech and Yale, observing the sky in the constellation Virgo. The Moon, 238,000 miles away, has craters from billions of years of impacts. The Moons smooth plains, like Mare Imbrium, are ancient lava flows. Also, it is believed that the Moon formed when something collided with Earth, meaning they are closely related. The Observatory also holds a piece of the biggest rock taken from the Moon, as a sample. Big Bertha is a 19.8 pound moon rock collected by the Apollo 14 mission. Comet dust, as well as other tiny pieces from asteroids, is smaller than grains of sand. I learned that some space-dust particles begin their journey to Earth after being hit by hit by another asteroid, or shed from a comet passing near the Sun. Also, the larger space-dust particles fall through our atmosphere and flash as meteors we see in the sky. This happens plenty during meteor showers. Another thing I learned is that most space dust is vaporized before it reaches Earths surface. Asteroids that melt can separate into several layers, including an iron core. Also, when objects in space run into one another at high speeds, they generate an enormous amount of energy on impact... enough to heat them and break them into pieces. When a star explodes, or even when the Sun erupts in a flare, protons and electrons are shot away as cosmic rays. These rays travel across space at really high velocities, always coming in contact with Earth. I also learned that cosmic rays are not rays, but high-energy particles from space. Also, muons and other secondary rays are created when cosmic rays collide with gas molecules in our upper atmosphere.

Probability Questions on ACT Math Strategies and Practice

Probability Questions on ACT Math Strategies and Practice SAT / ACT Prep Online Guides and Tips What is the probability that you’ll toss a coin and get heads? What about twice in a row? Three times? Probability questions ask you determine the likelihood that an event or any number of events is to occur, and the more you practice, the better your odds will be at mastering these types of questions on the ACT (see what we did there?). This will be your complete guide to probability on the ACT- how probability works, the different types of probability questions you’ll see on the test, and the steps you’ll need to take to solve them. What Does Probability Mean? $\Probability = {\desired \outcome}/{\all \possible \outcomes}$ On the ACT, probability questions can be framed in several different ways. You may be asked to find the â€Å"probability† that an event will occur, the â€Å"chances,† the â€Å"odds,† or the â€Å"likelihood.† But no matter how you see it written on the test, these are all ways of asking for the same thing. The way we represent the probability of an event (or events) is to express, as a fraction, how often that event occurs over the total number of possible outcomes. So if we use our example from above- †What are the odds that you’ll flip a coin and get heads?†- the odds will be: ${\desired \outcome}/{\all \possible \outcomes}$ $1/2$ In this one throw, there is one possible chance of getting heads. This means our denominator is 1. There are also two possible outcomes total (heads or tails), which means that our denominator will be 2. Now let’s take a look at another example: Mara is stringing a necklace and she selects each bead at random from a basket of beads. If there are currently 5, yellow beads, 10 red beads, 15 green beads, and 20 blue beads in the basket, what are the chances that she will select a red bead next? ${\desired \outcome}/{\all \possible \outcomes}$ There are 10 red beads, which is our desired outcome. This means 10 is our numerator. There are also a total of $5 \yellow \beads + 10 \red \beads + 15 \green \beads + 20 \blue \beads = 50 \total \beads$ in the basket. This is our denominator, as it represents all the outcomes possible. When we put these together, our probability is: $10/50$ $1/5$ The chances that Mara will select a red bead are 1 in 5 or $1/5$. Now what if we framed our desired outcome as a negative? What are the odds that Mara will NOT select a green bead? In order to find a negative probability, we must subtract out the chances that Mara will draw a green bead. (We could also think of this as finding the desired outcome of her selecting a yellow bead, a red bead or a blue bead, which we will cover in more detail in the next section.) There are only yellow, red, green, and blue beads, so we can add up our odds of yellow, red and blue beads, excluding the green. There are 5 yellow beads, 10 red beads and 20 blue beads, so we can put those together to get our numerator. $5 + 10 + 20 = 35$ And there are still $5 + 10 + 15 + 20 = 50$ beads total for our denominator. So what are the odds that Mara will NOT select a green bead? $35/50$ $7/10$ The odds are 7 in 10 ($7/10$) that Mara will draw any color bead except green. Expressing Probabilities As you can see, probabilities are expressed as fractions. This means that an event that will always and absolutely occur will have a probability of $1/1$ or 1. On the other hand, an impossible event will have a probability of $0/x$ or 0. You can also think about probabilities as percentages. If the odds are $4/52$ that you’ll draw an ace from a deck of cards, it’s the same as saying that there is a 7.69% chance that you will draw an ace. Why? Because $4 à · 52 = 0.0769$, and $0.0769 * 100 = 7.69%$. The possibilities are (not quite) endless. Either/Or Probability ${\probability \of \either \event = [{\outcome A}/{\total \number \of \outcomes}] + [{\outcome B}/{\total \number \of \outcomes}]$ (Special note: this is called a â€Å"non-overlapping† probability. In this case, it is impossible for the two (or more) events to both happen at the same time. There is such a thing as an either/or probability for overlapping events, but you will never be asked to do this on the ACT, so we have not included it in this guide.) An either/or probability increases the odds that our desired outcome will happen because we do not care which of the two events happen, only that one of them does. To solve this kind of problem, we must therefore add the probability of each individual event. Their sum will become the probability of either event happening. So let’s look again at our earlier example with Mara and her beads. Instead of asking the odds of Mara selecting only a red bead, what are the odds that Mara will select either a red bead or a green bead if she has 5 yellow beads, 10 red beads, 15 green beads, and 20 blue beads in the basket? We have increased our odds, since it doesn’t matter whether or not the bead is green or red, so long as the bead we select is NOT blue or yellow (essentially, we are doing another version of our earlier negative problem- †what are the odds that a particular event will NOT happen?†) This means we can add the probabilities of our individual events together in order to find their combined probability. So let us find the probability of her drawing a red bead: $10/(5 + 10 + 15 + 20)$ $10/50$ And let us find the probability of her drawing a green bead: $15/(5 + 10 + 15 + 25)$ $15/50$ So, if we put the two probabilities together, we’ll have: $10/50 + 15/50$ $25/50$ $1/2$ Because this problem involves the odds of two events with the same total number of outcomes (there are 50 total possible beads to choose from each time), we could also simply add our two desired outcomes together over the total number of outcomes. So: $(10 + 15)/(5 + 10 + 15 + 20)$ $25/50$ $1/2$ Either way, the odds of Mara drawing either a red bead or a green bead are 1 in 2, or $1/2$ (50%). What are the odds that we go this way or that way? Combined Probability $\Combined \probability = [{\outcome A}/{\total \number \of \outcomes}] * [{\outcome B}/{\total \number \of \outcomes}]$ "What are the odds of two or more events both/all happening?" This kind of probability question is called a combined probability and there is a good chance you’ll see a question of this type in the later half of the ACT math section. Note that a combined probability question is distinctly different from an either/or probability question. An â€Å"either/or† question asks whether or not one of the multiple events occurs (no matter which event is was). A â€Å"both/and† question requires that multiple events all occur. To find the probability of an â€Å"either/or† question, we must add our probabilities. To find the probability of a combined probability question, we must multiply our probabilities. A good way to remember this is to remember that a combined probability question will ultimately have a lower probability than the that of just one (or either) event occurring. The more events you need to happen, the less likely it will be that they all will. How likely is it that your first AND second coin tosses will BOTH be heads? Lower than the odds of just flipping heads once. On the other hand, an either/or probability question will have higher odds than the probability of just one of its events happening. You are combining forces to increase your odds of getting a desirable outcome. How likely is it that you’ll flip either heads or tails for each toss? 100%! What are the odds that Jenny will roll a pair of dice and get six on both? A die has six faces, so the odds of rolling any particular number is $1/6$. Because the question is asking us to find the odds of rolling two sixes (and nothing else), we must use our combined probability. So: $1/6 * 1/6 = 1/36$ There is a 1 in 36 chance that Jenny will roll a pair of dice and get two sixes. Combined probability questions mean that events cannot be separated. Typical ACT Probability Questions There are many different kinds of probabilities and probability questions (including overlapping, and conditional probabilities), but ACT probability questions use only the basic probabilities we have covered above. For most ACT probability questions, you will be asked to find either a straight probability or a probability ratio. You may also be asked to find or alter a new probability from an existing one. Now let us look at each type of problem. Simple Probability These kind of questions will always be word problems in which you are told a story and asked to find the probability of one or more events. This may be a straight probability, an either/or probability, or a combined probability. Simply use the understandings we learned above and you’ll be able to solve these kinds of questions without issue. We know that probability is ${\desired \outcome}/{\all \possible \outcomes}$. Our desired outcome is to get one of the five extra pieces, so our numerator will be 5. There are 750 puzzle pieces PLUS the extra five pieces in the box total, so our denominator will be: $750 + 5 = 755$ When we put them together, our final probability will be: $5/755$ Our final answer is D. Probability Ratio One way the ACT likes to spin probabilities and make them more complex is to present them as ratios or to ask you for your answer in a ratio. For a refresher on ratios, check out our guide to ACT fractions and ratios. For these types of questions, pay close attention to what the ratio represents so that you don’t end up solving the wrong question entirely. We are told that we must find the odds of an event as a ratio of $\in \the 25 - 35 \age \range: \not \in \the 25-35 \age \range$ (in other words, $\desired \outcome: \remaining \outcomes$). We are given the number of voters in terms of percentages, so we can translate the 42% of voters in the 25-35 age range as $42/100$. And if the 25-35 age category has a probability of $42/100$, then the remaining voters will have a probability of: ${100 - 42}/100$ $58/100$ Now, we can represent our ratio of $25-35 \voters: \all \other \voters$ as: $42:58$ Both numbers are divisible by 2, so we can reduce the ratio to: $21:29$ Our final answer is D. Altering a Probability Finally, it is quite common for the ACT to ask you to alter a probability. Usually, they will present you with an existing probability and then ask you to find the number to which you must increase the desired outcome(s) and the total number of outcomes in order to achieve a specific new probability. For example: Now, there are two ways to solve this kind of problem- using proportions or using the strategy of plugging in answers. Let’s look at both methods. Method 1- Proportions We are asked to find an additional number of red marbles that we must add to the total number of marbles in order to find a new probability. The current probability of selecting a red marble is: $12/32$ Now, we are adding a certain number of red marbles and only red marbles. This means that the number of red marbles increases by exactly the same amount that the total increases. We can therefore represent the new probability as: ${12 + x}/{32 + x}$ Now, we want this new probability to be equal to $3/5$, so let us set them up as a proportion. ${12 + x}/{32 + x} = 3/5$ And because this is a proportion, we can cross multiply. $(32 + x)(3) = (12 + x)(5)$ $96 + 3x = 60 + 5x$ Now solve for $x$. $36 = 2x$ $18 = x$ So we must add 18 red marbles in order to get a new probability of: ${12 + 18}/{32 + 18$ $30/50$ $3/5$ Our final answer is G, 18. Method 2- Plugging in answers The alternative to using proportions is to use PIA. We can simply add the answer options to the 12 red marbles in our numerator and the 32 marbles in our denominator and see which answer choice gives us a final ratio of $3/5$. Let us begin, as always, with the answer choice in the middle. Answer option H gives us 28, so let us try adding 28 to both the red marbles and the total number of marbles. ${12 + 28}/{32 + 28}$ $40/60$ $2/3$ This answer is a little bit too large. We can also see that the larger the number we add to both the numerator and the denominator, the larger our probability will be (you can test this by plugging in answer choice J or K- for K, if you add 40 to both 12 and 32, your final probability fraction will be $52/72$ = $13/18$, which is even larger than $2/3$.) This means that we can eliminate answer choices H, J, and K. Now let us try answer choice G. ${12 + 18}/{32 + 18}$ $30/50$ $3/5$ We have found our desired ratio. Our final answer is G, 18. As you can see, no matter which method you use, you can find the right solution. Somebody's gotta win, right? Well, you are more likely that to get struck by lightening (odds: 1.3 million to 1) and THEN fall from a 15 story building and survive (odds: 90 to 1), than you are to win the lottery (odds: 120 million to 1). How to Solve a Probability Question There are several ACT math strategies you must keep in mind when solving a probability question. First of all, you will know if you are being asked for a probability question on the ACT because, somewhere in the problem, it will ask you for the "probability of," the "chances of," or the "odds of" one or more events happening. Almost always, the ACT will use the word â€Å"probability,† but make sure to note that these words are all interchangeable. When you see those phrases, make sure to follow these steps: #1: Make sure you look carefully at exactly what the question is asking. It can be easy to make a mistake with probability ratios, or to mix up an either/or probability question with a both/and question. Make sure you always carefully examine the problem before you waste precious time trying to answer the wrong question. Kyle has been tossing a coin and recording the number of heads and tails results. So far, he has tossed the coin 5 times and gotten heads each time. What are the odds that he will get tails on his next coin toss? You may be tempted to think that our desired outcome (our numerator) is influenced by the number of times Kyle has already tossed the coin and the outcomes so far, but in all actuality, the probability that Kyle will get tails on his next toss is $1/2$. Why? Because each coin toss is independent of another coin toss. This means that this is a simple matter of determining our desired outcome over the number of total outcomes. There is one possibility of getting tails- numerator 1- and two possible options- heads or tails, denominator 2. So Kyle’s chances of getting tails on the next toss are 1 in 2. Now let’s look at a slightly different question. Kyle tossed the coin 5 times and got heads each time. What were the odds of this happening? Now we are being asked to find the probability of a both/and question, since we are being asked to identify the probability of multiple events all happening. (If it helps to picture, you can rephrase the question as: â€Å"What are the odds that BOTH his first coin tosses were heads? And What were the odds that BOTH his next tosses were heads?†, etc.) So if we use what we know about combined probabilities, we would be able to say: $1/2 * 1/2 * 1/2 * 1/2 * 1/2$ $1/32$ The odds are 1 in 32 (3.125%) that Kyle would have tossed heads five times in a row. #2: Think logically about when your odds will increase or decrease The odds of either two or more events occurring will be greater than the odds of one of the events alone. The odds of both (or multiple events) all occurring will be less than the odds of the odds of one of those events alone. Always take a moment to think about probability questions logically so that you don’t multiply when you should add, or vice versa. #3: Simplify the idea of a probability Once you get used to working with probabilities, you’ll find that probability questions are often just fancy ways of working with fractions and percentages. A probability ratio is the exact same thing as a question that simply asks you for a ratio. Just brush up on your fractions and ratiosif you find yourself intimidated for any reason. And always feel free to fall back on your PIA or PIN,as needed. These methods will sometimes take a little extra time, but they will always lead you to the right answer. The probability of drawing this hand is less than 0.0000004%, so I'm gonna go ahead and go all in. Test Your Knowledge Now it’s time to test what you’ve learned, using real ACT practice problems: 1) 2) 3) 4) Answers: F, E, D, B Answer Explanations: 1. This is another example of an altering probability question and, again, we have two choices when it comes to solving it. Let’s go through both the algebra/proportion method and PIA. Method 1- proportions. We know that we must increase the number of red marbles and only red marbles, so the amount of new marbles added to the set of red marbles and to the overall total of marbles will be the same. Our starting probability of red marbles is: $6/18$ So now we must increase each part of our fraction by the same amount and set it equal to the desired probability of $â…â€"$. ${6 + x}/{18 + x} = 3/5$ $(18 + x)(3) = (6 + x)(5)$ $54 + 3x = 30 + 5x$ $24 = 2x$ $12 = x$ So we must increase our red marbles (and, consequently, the total number of marbles) by 12 in order to get a probability of $â…â€"$ of selecting a red marble. To double-check this, we can plug the number back into our probability. ${6 + 12}/{18 + 12}$ $18/30$ $3/5$ We have successfully found our answer! Our final answer is F, 12. Method 2- PIA The alternative method is to use plugging in answers. We will simply plug in our answer choices to increase our red marbles (and our total number of marbles) and see which answer choice results in a probability of $3/5$. Let us start with answer choice H, 18. ${6 + 18}/{18 + 18}$ $24/36$ $2/3$ This probability is too large and any larger numbers will only get us larger probabilities. This means we can eliminate answer choices H, J, and K. Now, let us try answer choice G, 16. ${6 + 16}/{18 + 16}$ $22/34$ $11/17$ This probability is still slightly too large. By process of elimination, our answer must be F, but let us test it to be sure. ${6 + 12}/{18 + 12}$ $18/30$ $3/5$ Success! We have found our right answer. Our final answer is, again, F, 12. 2. Because Elliott must answer all the questions correctly, this means that this is a combination probability question. We are told that he answers each question at random, and all the questions have 3 answer options, which means that answering one question correctly has a probability of: $1/3$ And, since this is a combination problem, answering ALL 4 questions correctly will be: $1/3 * 1/3 * 1/3 * 1/3$ $1/81$ Our final answer is E, $1/81$ 3. We have a total of 150 people and 67 of them have type A blood, while 6 of them have type AB. This means that type A blood has a probability of: $67/150$ And type AB blood has a probability of: $6/150$ Now we can add these probabilities together. $67/150 + 6/150 = 73/150$ Our final answer is D, $73/150$ 4. Here, we have another probability question made more complicated by the use of ratios. Again, if you need a refresher on ratios, check out our guide to ACT fractions and ratios. First, we must find the actual number of 10th and 11th graders. We are told that the 10th graders have a ratio of 86:255 to the school population and the 11th graders have a ratio of 18:51 to the total student population. We must first set these ratios to an equal number of total students in order to determine the number of students in each class. We can see that the 11th graders have a reduced ratio, so we must multiply each side of the ratio by the same amount in order to equal the total number of students as the 10th graders’ ratio (255). Luckily for us, $255/51 = 5$. This is a nice, round number to work with. Now, we must multiply the 11th grade ratio by 5 on each side to even out the playing field. $18(5):51(5)$ $90:255$ We are assuming for now that there are 255 students total (there may be $255 *2$ or $255 * 3$, and so forth, but this will not affect our final outcome; all that matters is that we choose a total number of students that is equal for all grades/ratios.) So there are 86 10th graders, 90 11th graders, and the remaining students are 12th graders. Knowing that there are 255 students total, we can find the number of 12th graders by saying: $255 - 86 - 90 = 79$ There are 79 12th graders. This means that the probability of selecting a 10th, 11th, or 12th grader at random is: $86/255$, $90/255$, $79/255$, respectively. The odds are higher that the lottery will select an 11th grader, as the numerator for 11th graders is larger than that of the others. Our final answer is B, 11th graders. You have successfully completed your probability questions! You're free! The Take Aways The more you practice working with probabilities, the easier they will become. Although it can take some time to learn how to properly differentiate between the different types of probability questions, most ACT probability questions are fairly straightforward. Understand that probabilities are simply fractional relationships of desired outcomes over all potential outcomes, and you’ll be able to tackle these kinds of ACT math questions in no time. What’s Next? Now that you've stacked the odds in your favor on your probability questions, it's time to make sure you're caught up with the rest of your ACT math topics. We've got guides on all your individual math needs, from trigonometry to slopes and more. Wondering how your score stacks up? See what makes a "good" score and how you can get the most out of your studying time to reach your target goal. Running out of time on the ACT? Look to our guide on how to maximize your time and your score in the hour allotted. Want to get a perfect score? Check out how to get a perfect score on the ACT math, written by a 36-scorer. Want to improve your ACT score by 4 points? Check out our best-in-class online ACT prep program. We guarantee your money back if you don't improve your ACT score by 4 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this Math lesson, you'll love our program.Along with more detailed lessons, you'll get thousands ofpractice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial:

Life of Taking Risks Essay Example | Topics and Well Written Essays - 1000 words

Life of Taking Risks - Essay Example In a real sense, risk-taking may provide an excellent opportunity for changing a life. Many successful stories of businesspersons, for example, tell how a significant risk is, to the overall prosperity. Therefore, it is crucial to understand, the benefits of taking a risk, when to take the risk, how, or even the challenges of taking a risk, as this paper will try to illustrate. By nature, the risk is scary and sends fear in many people. It exposes a person to uncertainties since it is difficult to tell what the results may be. On the other hand, equals a walk into unpredictable vastness where anything can happen, even the loss of life. There are many scenarios in life that involve risk-taking. While others are explicit, some simple, daily life things are hard to notice. When a person laughs, that person risks the perception to be a fool. When a person exposes his or her feelings, there is the risk of exposing the true self. Loving a person, on the other hand, is a risk since it is no t necessary to get love in return. Ultimately, living in this world is risking death. All these examples are primarily, meant to illustrate the sheer fact that life is full of risks to take. However, the question that should follow is, ‘Should risk be taken?’ Benefits of Risk Taking To get a life of desire, it is imperative to take positive risks. It is also equally beneficial to plan on how to take those risks. Negative risks are typically impulsive and driven by emotions. Before making a positive risk, it is necessary to take time to weigh events of risk-taking and its significance. The series of thoughtful events made before taking a risk act as a cushion from unnecessary and unforeseen repercussions. Firstly, risk-taking gives an opportunity to explore the talents and abilities of a person.  

East vs. West Germany Essay Example | Topics and Well Written Essays - 500 words

East vs. West Germany - Essay Example From the earliest days in 1945, the Allies wanted to avoid the mistakes of the Treaty of Versailles, which had humiliated the German people and had enforced crippling reparations that caused resentment for generations. This time a plan of partition into zones, and a generous package of aid which came to be known as the Marshall plan were adopted as strategies to manage German recovery. In the parts of Germany controlled by Britain, France and America there was a focus on de-Nazification and the building of a democracy that would ultimately fit into the emerging NATO alliance of Western Powers. The political structure which was adopted there was based on western style multi-party democracy, with a constitution that protected basic human rights and prevented the rise of another dictatorship like the Hitler regime. Free market capitalism was the preferred economic style, and this, along with assistance from the Marshall plan funds, created the so-called â€Å"economic miracle† of the post-war years. West Germany became a republic with 11 regions and grew into a strong and stable democracy. The Soviet Union, on the other hand, was keen to integrate the Eastern part of Germany, including its historic capital Berlin, into the network of Socialist states that became known as the Soviet bloc. The economic style was very different, and based on the principles of Socialism, where state-owned collectives ran industry rather than private enterprises. When the Western allies declared the West German mark to be separate from the East German mark, the differences in economic performance became even more marked. A wall was built by the East German authorities to prevent a wholesale emigration of citizens from the East to the West in search of a better standard of living. Winston Churchill’s statement  that an â€Å"iron curtain has descended across the continent† in a speech in 1946 (Perry at al. 2009, p. 300) turned out to be an accurate assessment of the increasing distance between East and West. A single party political system was introduced, and throughout the C old War,   East German citizens were prevented from traveling to the West or hearing about events there.