Author: chris

Write an essay consisting of at least 500 words addressing all of the following topics (a through f):

a. Though federal air quality legislation prior to 1970 was generally considered ineffective, what aspects of pre-1970 legislation helped lead to the effectiveness of the 1970 Clean Air Act?

b. What are the key aspects of the clean air legislation beginning in 1970 that made substantial improvements to air quality?

c. Explain New Source Review (NSR), and indicate the year that it was promulgated.

d. Why would a state want to sue the U.S. EPA?

e. Do you think the CAFE standard of 35 mpg by the year 2020 mentioned on page 182 of our textbook will occur?

f. For a NAAQS parameter of your choice and a city in the United States of your choice, discuss how the concentration of your chosen parameter has changed from 1970 to the present. Do you think the Clean Air Act has had an influence on the trend? To help you get started, consider performing an Internet search on “Columbus, Ohio air quality 1970 to present” and substitute the city of your choice.

You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

 

 

Write an essay consisting of at least 500 words addressing all of the following topics (a through f):

a. Taking into account air quality legislation prior to 1970, why is the 1970 Clean Air Act considered the beginning of the modern era in clean air legislation?

b. List the parameters that are on the NAAQS.

c. Explain how the U.S. President and/or U.S. Congress influence the U.S. EPA.

d. Explain the pros and cons of MTBE.

e. Why are toxic compounds, such as those listed in Table 5-3 of our textbook (page 184), not in the NAAQS?

f. For a NAAQS parameter of your choice and a city in the United States of your choice, discuss how the concentration of your chosen parameter has changed from 1970 to the present. Do you think the Clean Air Act has had an influence on the trend? To help you get started, consider performing an Internet search on “Columbus Ohio air quality 1970 to present” and substitute the city of your choice.

You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Write an essay consisting of at least 500 words addressing all of the following topics (a through f):

a. Though federal air quality legislation prior to 1970 was generally considered ineffective, what aspects of pre-1970 legislation helped lead to the effectiveness of the 1970 Clean Air Act?

b. What are the key aspects of the clean air legislation beginning in 1970 that made substantial improvements to air quality?

c. Explain New Source Review (NSR), and indicate the year that it was promulgated.

d. Why would a state want to sue the U.S. EPA?

e. Do you think the CAFE standard of 35 mpg by the year 2020 mentioned on page 182 of our textbook will occur?

f. For a NAAQS parameter of your choice and a city in the United States of your choice, discuss how the concentration of your chosen parameter has changed from 1970 to the present. Do you think the Clean Air Act has had an influence on the trend? To help you get started, consider performing an Internet search on “Columbus, Ohio air quality 1970 to present” and substitute the city of your choice.

You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

 

 

Write an essay consisting of at least 500 words addressing all of the following topics (a through f):

a. Taking into account air quality legislation prior to 1970, why is the 1970 Clean Air Act considered the beginning of the modern era in clean air legislation?

b. List the parameters that are on the NAAQS.

c. Explain how the U.S. President and/or U.S. Congress influence the U.S. EPA.

d. Explain the pros and cons of MTBE.

e. Why are toxic compounds, such as those listed in Table 5-3 of our textbook (page 184), not in the NAAQS?

f. For a NAAQS parameter of your choice and a city in the United States of your choice, discuss how the concentration of your chosen parameter has changed from 1970 to the present. Do you think the Clean Air Act has had an influence on the trend? To help you get started, consider performing an Internet search on “Columbus Ohio air quality 1970 to present” and substitute the city of your choice.

You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

 

We all agreed to use Scenario 1: Choose an existing U.S. based business the does not currently have international operations and expand it globally.

 

For our paper and PowerPoint project we came to the agreement of choosing an existing U.S. based business the does not currently have international operations and expand it globally. With doing so we are basing our project on the company Perrigo. Perrigo Company is a manufacturer of private label over-the-counter pharmaceuticals. The company operates in three segments; Consumer Healthcare, Rx Pharmaceuticals, and Active Pharmaceutical Ingredients. This segment has analgesic, cough/cold/allergy/sinus, first aid, antacids, hemorrhoid remedies, sleep aid products, feminine hygiene products, vitamin, and nutritional supplement products. So we as a team decided to go with infant formula as our product to introduce into the country of Chile for the company to go global.

 

These are the Topics that need to be covered as Listed below:

 

1) Value Chain,

 

2 Entry Strategies,

 

3) Entry Mode,

 

4) Foreign Exchange Risk, and

 

5) Exchange Rate Forecasting.

 

Microsoft Word, at least 4-6 pages,  APA Format, peer reviewed citations

5 page paper addressing each point listed below and to include any addtional information that may be helpful.

Define what your company does: Substance abuse treatment facility providing methadone medication assistance treatment to adults.

 

Does competition reduce costs? No all clients are covered by medicade and organizations are paid the same rate for all services stipulated in the contract.

 

What is the impact of regulatory pressures? Quality of client care suffers due to demand on paperwork, deadlines, and added paperwork.

 

How is labor divided? therapist, medical doctors, managment, and administrative employees

 

Explain you company’s productivity, efficiency, and output? For profit organization therefore the organization very profitable.

 

What are the trends in your industry?

 

Explain the information technology externalities.

Is there a global experience? How has it impacted the company?

 

Three year projected new product lines. There is no forseen new product lines as the insurance companies that pay for treatment saves money by mandating clients to participate in medication assistance treatment.

 

Three year projected new business development? expanding business to treat with other medication assistance treatements such as suboxone and vivitrol.

 

Summarize in a few paragraphs the organizations ability to withstand the current economic turmoil. Organizations such as substance abuse treatment continues to excel as more people prescribed narcotics to deal with stress and become addicted and in need of treatment.

 

Please let me know if additional information is needed to complete this assignment.

The research paper and final project will consist of a case study analysis of a company of your choice (WalMart). The research must offer a business overview of the company, their Ideation phase, how they went from Ideation Stage (Start Up) and moved through the Survival Stage (Vally of Death) and on to the Growth and Expansion stages, if applicable. Discussion should include how the organization was formed and what is their organizational structure. The analysis should examine the management philosophy of innovation, culture and the reasons why the company has become so successful. The study must investigate the innovations introduced by the management and what strategies were used to make the company efficient and competitive within the industry.  This study should also look at the innovations implemented by the ownership/management team and what methods and strategies were used to create a sustainable competitive advantage. The case study should also explain the role of entrepreneurship in the development of the company and the fundamental reasons behind their success. Spend some time explain the business model.

SPSS Homework 8 Instructions
Nonparametric Tests
Part 1:

1. Green & Salkind: Lesson 42, Exercises 1, 3–4

The following helpful tips are numbered to correspond with the exercise number to which they refer (a dash indicates that no tips are needed):

This research scenario will be familiar to you. Do letters a, b, and c, answering the questions beneath your SPSS output. (3 pts for output and 2 pts each for a–c)
Write a current APA-style Results section based on your analyses. All homework “Results sections” must follow the example given in the SPSS tutorials and the Course Content document “Writing Results of Statistical Tests in Current APA Format” (note: you do not have to refer to a figure). Remember to include a decision about the null hypothesis. (4 pts)
Create a boxplot as done in earlier modules/weeks. (3 pts)

2. Spearman Rho Exercise: This exercise is not found in Green and Salkind. Open the data file “Mod8_SpearmanRho_Exercise File” in the Module 8 SPSS Assignments folder in Blackboard, read the following information, and answer the questions below.

Scenario: During the Vietnam War, a “draft” was put in place that selected young men born on certain dates and placed them in the armed services. The process proceeded via lottery: Dates like “Sept. 14” were placed in capsules, one for each of the 365 days of the year, and the capsules were then drawn randomly from a container. In the 1970 draft, Sept. 14 was the first date drawn, meaning that all young men born on Sept. 14 were eligible for the very first round of the draft, and so on. After the results of the 1970 draft were analyzed, many statisticians and politicians asserted that the process had not been random at all, and certain men had a higher chance of being drafted than others. This case is famous, making it to the pages of international newspapers and the U.S. Supreme Court.

In the SPSS data file in Blackboard, you will find the original 1970 draft data with two variables. Column 1 contains the consecutive day of the year (1 = Jan. 1; 2 = Jan. 2; and so on). Column 2 contains the draft rank (1 = first date drawn; 2 = second date drawn; and so on). So, in the first row of the data set, Day 1 (Jan. 1) had a draft rank of 305. The lower the draft rank, the sooner and more likely a man was to be drafted. So a higher rank (like 305, for example) was preferable to those who did not want to be drafted right away.

If the process had been statistically random, there would be no correlation between the day of the year you were born and the rank that was assigned to you (r = 0). Any type of significant correlation would mean that there was something relating the variables beyond mere random error, or chance.

Open the data file and perform a Spearman correlation analysis for the day of year and the draft rank. Paste your output in the homework document. (2 pts)
Write a current APA-style Results section based on your analyses. All homework “Results sections” must follow the example given in the SPSS tutorials and the Course Content document “Writing Results of Statistical Tests in Current APA Format” (note: you do not have to refer to a figure). Remember to include a decision about the null hypothesis. (2 pts)
Answer the next question in “layman’s terms” as if for someone who doesn’t know much about statistics: Why did people accuse this process of not being random? (2 pts)

It is not required, but if you want to check out the original New York Times article and see an interesting graph, go to this link: http://frewm.wikispaces.com/file/view/nytimes.pdf

(Data file source: http://www.amstat.org/publications/jse/v5n2/datasets.starr.html#rosenbaum1)

Part 2:

A university assessment department collects data to determine whether university rankings differ based on their regional location. Some rankings are missing because the universities ranked at that level were in different regions than those of interest to the department. Based on eight universities in each of two different regions, is there a difference between university rankings based on their regional locations? Perform a Mann-Whitney U test, being sure to follow the directions under the table. (3 pts)

West Coast East Coast
2
5
6
12
16
17
18
19 1
3
4
7
8
10
13
15

Note: Your file must be set up in the same manner as the example data file and the exercise file from Part 1, with a grouping variable and a dependent/test variable. Because these are rankings, they are ordinal data and must be identified as such in “Variable View” under the column “Measure.” Click in the cell under “Measure” in the row for your university rank variable and choose “Ordinal.” This ensures that SPSS treats the data at the proper level of measurement.

2. Create a boxplot depicting the results. (3 pts)

3. Write a current APA-style Results section based on your analyses. All homework “Results sections” must follow the example given in the SPSS tutorials and the Course Content document “Writing Results of Statistical Tests in Current APA Format” (note: you do not have to refer to a figure). Remember to include a decision about the null hypothesis. (3 pts)
Part 3: Cumulative Homework

A political pollster is curious about the effects of a town hall meeting on people’s intentions to support a state proposition that would legalize gambling. He interviews people as they leave and asks them whether their opinion about the proposition has changed as a result of the meeting. He records these frequencies in the table below. Choose the appropriate test to analyze this data, and follow the directions below the table.

Less likely to support No change More likely to support

24
11
12

Paste appropriate SPSS output. (3 pts)
Paste appropriate SPSS graph. (3 pts)
Write a current APA-style Results section based on your analyses. All homework “Results sections” must follow the example given in the SPSS tutorials and the Course Content document “Writing Results of Statistical Tests in Current APA Format” (note: you do not have to refer to a figure). Remember to include a decision about the null hypothesis. (3 pts)

Submit this assignment by 11:59 p.m. (ET) on Friday of Module/Week 8.

Ethics in advertising are the moral order and principles that must be applied for an advertisement to be effective. Adverts educate consumers and create awareness on various goods and services they can purchase (Bivins, 2009).
The unique ethical issues
Vital issues concerned with ethical advertisement are dishonest adverts, advertisement to young ones, drug advertisement e.g. tobacco, an advert for local breweries, political adverts that are unconstructive, adverts regarding sex and ethnicity stereotype.
Ethical dilemma
Ethical dilemma in business advertising entails making the right selections. Advertisers are encountered with hard choices which build and generate tension between the codes of conduct and revenues or between their own individual gain and the public good. In real sense, any choice or judgements that encounter a moral consideration can potentially result to an ethical dilemma. For instance; a decision that requires morally two causes of action which are incompatible with each other. Also, decisions which favors ones’ interest but morally violates the principle that the person supports (Taplin, 2013).
Traditional theories used in suggesting the potential resolution of the dilemmas
There are 3 specific traditional rules used in resolving the arising dilemmas. First, the respect to truthfulness; meaning advertisers should not distort the truth but instead stand with relevant facts. The decision should adhere to the dignity of human beings by giving special considerations to the disadvantaged group in the society. Finally, the advertisement must promote social responsibility; it must not limit progress. Based on the above rules, any potential dilemmas in advertising can be avoided provided the advert obeys the morals, it is declared effective.
References
Bivins, T. (2009) Mixed Media: Moral Distinctions in Advertising, Public Relations, and Journalism. Routledge: Language Arts & Disciplines
Taplin, W. (2013) Advertising a New Approach (RLE Advertising). Routledge: Business & Economics.

PART A (20 marks)

Note: All amounts are in Australian dollars. Ignore any double tax agreements.

You are an Australian-resident individual. During the income year ended 30 June 2015 you earned the

following amounts:

• $90,000 (gross) salary from working in Australia. Australian tax withheld was $40,000.

• $10,000 (gross) salary from working in France for two months, on which $4,000 French income

tax was paid.

• $30,000 capital gain net of any applicable discount from the sale of shares in a United States

company. United States tax of $12,000 was paid on this.

• $35,000 as a fully franked dividend from an Australian resident company. This amount received

is net of $15,000 franking credit.

• For foreign income tax paid, you wanted to know how much you can claim as foreign income tax

paid in accordance with the Foreign Income Tax Offset (FITO) limit. You would do a further

research on this matter.

• You have a private health insurance cover for the whole year under Medibank Private.

In addition to the above:

You and Maxine are equal partners in a partnership. The partnership operates a car dealership selling

brand new and second-hand cars. The partnership is registered for GST purposes.

Note: All amounts are GST-exclusive unless otherwise stated.

During the year ended 30 June 2015, the partnership had the following transactions:

1. Cash received from sales of $2,500,000. Accounts receivable balances as at year end were as

follows:

• 30 June 2014: $260,000.

• 30 June 2015: $180,000.

2. Trading stock purchases of $1,200,000. All purchases satisfy the requirement of being on hand.

Opening stock value for tax purposes is $1,300,000. Closing stock value for tax purposes are as

follows:

• Market selling price: $1,600,000.

• Replacement price: $1,400,000.

• Cost: $1,100,000.

3. Interest expense of $400,000 in relation to a $2 million bank loan. The money was used as

follows:

• Working capital: $1,200,000.

• Return of capital to partners: $800,000.

• The partners used the money returned to them to carry out extensive renovations to their

private home.

School of Business Semester 2, 2015 Page 4 of 5

Faculty of Law, Education, Business and Arts Higher Education, Internal & External

4. Parking fines incurred by employees of $2,100.

5. Salary costs of $500,000. Of this amount, $80,000 was paid to Maxine as salary.

6. Restaurant meal expenses of $5,000. Records indicate that these expenses were incurred taking

highly valued corporate clients to dinner in order to maintain good business relationships. You

and Maxine were the only persons from the business to attend. The partnership has not made a

meal entertainment election for FBT purposes. You wanted to know how much you can include

in your allowable deductions and might do additional research on this matter.

7. Clothing allowance of $3,000 was paid to sales employees on 30 June 2015 to purchase more

professional attire as required.

8. Professional fees of $6,000 paid to Raul David Chartered Accountants on 28 February 2015. The

fees relate to investment advice to assist the partnership to set up a small share portfolio of

$1,400 and the preparation of the BAS and compliance with GST obligations of $4,600.

REQUIRED:

(a) Calculate the minimum net income of the partnership for the income year ended 30 June 2015.

For all items (excluding items 1 and 3) provide a relevant section reference or case law to support

your answer. For items 1 and 3 provide relevant case law to support your answer. Explain all

exclusions.

You may want to use the following format:

Item Description/calculation

References (Legislative

references are to ITAA

1997 unless otherwise

stated) and/or Case law

Amount

($)

1

Sales: <insert computation, if

any>

<insert case law or relevant

section reference, see

requirement letter (a)>

<insert amount>

(+) for

assessable

income, (-) for

allowable

deductions

2.. etc.

NET INCOME $XXX,XXX

(b) Calculate your minimum tax payable by, or maximum refundable, for the income year ended 30

June 2015. Show all workings, references are not required.

(c) After completing your calculations in (b), download the electronic copy of the Individual tax

return 2015 (NAT 1371-6.2015) from the ATO website and fill out the required information to

complete your income tax return accordingly.

Policy Paper:
What is a Health Policy Paper?
The issue addressed should be a legitimate contemporary health policy issue within which the current policy is clearly discernible.
There should be clear alternatives to the current policy.
There must be sufficient data present to provide the target audience (i.e. the decision-maker) with information to make a decision on the policy proposal.

Format for the Policy Paper
Below are the guidelines for writing a policy paper. Some variation may occur depending on the topic of the paper and the research methods being used. Policy papers should be approximately 8 pages in length.

Executive Summary (.5-1page in length)
At the beginning of the paper explain who the target audience is (i.e., the decision-maker for your policy proposal) and the main points that the decision-maker should know. It may be best to write this section last because it will serve as a summary of the entire paper.
At a minimum, the summary should include the following:
A statement of current policy
Reasons for initiating changes
Policy options to be considered
Pros and cons of each option
Recommended course of action
Reasoning for selecting that course of action

Body of Paper
The main portion of the paper should be dedicated to establishing the background and discussing the reasoning behind the policy recommendation. Students should include all of the basics from the executive summary, but fully elaborate on each point that the paper is making. The following is an outline describing what the main body of the paper should include.
Overview / Background
Statement of purpose – Why is the decision-maker being asked to consider a policy change at this time?
Review the Current Policy – What are we currently doing, why are we doing it this way, what is the public’s perception of the policy? Assess how well it is or is not working.
Statement on the Necessity for Change – What circumstances (e.g., changes in government, leadership, stability, etc.) have changed that make a new approach advisable or necessary?
Discussion
Discuss the alternatives to the current policy option by enumerating and explaining each policy option in turn.
Pros and cons of each policy option should be discussed next. Identify the political, economic, and security implications for each option. Each policy option should be compared and contrasted to the other options as well as to the current policy. This is the most important part of the paper.
Recommendation
Clearly identify which option will be recommended and which options will be discounted.
Clearly lay out the argument for why that option is better than each of the others.
Implementation
Write a detailed recommendation for specific steps on how and when to implement the recommended policy option.

Viable Alternatives
Policy papers must present several policy alternatives, and they must be serious alternatives. As a general rule, three options should be presented. One serious alternative will often be to maintain the status quo.

Cost-benefit analysis
Policy papers should include a clear cost-benefit analysis. The student should be certain to think through all possible outcomes clearly and thoroughly. The cost-benefit analysis should seriously consider the feasibility of implementation, not only in terms of economic or strategic implications, but also in terms of political feasibility. Moreover, the analysis of likely effects must not be completely one-sided. There are always going to be some benefits and some costs to any policy proposal.

Clear Criteria
Students should present clear criteria for evaluating the problem at hand and the policy alternatives to be considered. This will involve prioritizing among a variety of possible values. Trade-offs are the heart of the policy process – if solutions were easy or obvious, the problem would not be around for the student to analyze.

Clear predictions
What are the likely result of the proposed policy option? Be specific and reasonably detailed. What level of certainty can one have about them? And what middle-run indicators would demonstrate success?

Health Policy Topics:
Food Safety Policies
GMO’s
Healthcare-associated infection
Death with Dignity
E-Cigarettes regulation
Mental Health coverage, Mental Health Parity Act
Ninety-Day Grace Period- ACA 90 day grace period before an insurer can discontinue someone’s coverage for failure to pay a monthly premium.
Ideas (Health Policy Briefs, www.healthaffairs.org/healthpolicybriefs/archives)

What is Not a Policy Paper?
An historical analysis is never an appropriate topic for a policy paper. A policy paper must focus on a current policy issue. For example, an analysis of what George W. Bush should or should not have done in 2001 would work well as a research paper, but it would not be acceptable as a policy paper.
Comparative or case studies normally fit better as research papers than policy papers. For example, a comparative study of conflict resolution in South Africa and Northern Ireland, although certainly providing an analysis with contemporary relevance, would work far better as a research than a policy paper.

Acquisition Analysis and Valuation Outline: The proposal must conform to the following conditions: (1) each manager will be representing an acquiring company or investment group whose business growth strategy involves an acquisition and (2) the target firm must be in the same industry.

 

The acquisition is to be a purely hypothetical acquisition of a financial services company or submit your alternative idea for approval from the Professor:

 

The use of publicly traded companies as comparables will facilitate data collection, and the selection of a single company and companies in the same industry will simplify the analysis. Based on analysis, define scenarios where an acquiring firm [might] overpay, underpay, or pay “fair market value” for the target firm and why.

 

The purpose of this Acquisition Simulation is to give students the opportunity to apply the tools they have learned in an increasingly common real world situation, i.e., mergers and acquisitions. In no more than 12 pages plus supporting charts, tables, financial statements and appendices, each proposal must address the following areas:

 

1. Executive summary [<1 page]: Identify the industry/market in which the acquiring firm is seeking to grow and discuss why a particular firm was chosen as the target. Moreover, discuss the rationale for the magnitude and composition of the initial offer price and your recommendation as to how it should be financed and why. This section should be no more than one page in length.

 

2. Industry/market overview[1 page]: Describe the industry/market in terms of size, growth rate, product offering, and other pertinent characteristics. Furthermore, describe industry/market dynamics in terms of customers, competitors, potential entrants, product/service substitutes, and suppliers.

 

3. Opportunities/threats [1/2 page]: Discuss major opportunities and threats that exist because of the industry’s competitive dynamics including any barrier to entry. Be sure that you can show how these threats or opportunities are a consequence of industry dynamics described in (2).

 

4. Objectives [1 page]: Assume FINANCIAL BUYER. Specify how the acquisition will enable the new company (i.e., the combination of the acquirer and target firms) to grow and create shareholder value. Cite specific objectives the acquirer hopes to achieve (e.g., gain access to new customers or products or proprietary technologies, improve shareholder value by achieving economies of scale or scope, etc.) and quantify whenever possible. Note that objectives can include the exploitation of opportunities or defense against threats identified in section (3).

 

5. Negotiating strategy [1/2 page]: Once the primary target has been identified

 

–Describe what you believe to be the primary issues/needs of the parties involved (i.e., target firm stakeholders)

 

–Recommend a deal structure that addresses the primary needs of all parties. Identify and explain the rationale for choosing the main elements of the structure including the proposed acquisition vehicle, post closing organization, form of payment, form of acquisition, and tax structure. Indicate how you might “close the gap” between the seller’s expected price and the offer price, if the seller rejects the initial offer, by making a counter-offer.

 

6. Financials and valuation [3-4 pages]: For the acquiring and target firms, provide projected three-five year income and balance sheet and estimate each firm’s value based on its projected DDM. List key forecast assumptions. Provide projected five year income, balance sheet, and cash flow statements for the consolidated acquirer and target firms including the effects of potential synergy.

 

Clearly state potential sources and destroyers of value. Develop a preliminary minimum and maximum purchase price range for the target firm. Identify an initial offer price, the composition (i.e., cash, stock, debt, or some combination) of the offer price, and why you believe this price is appropriate in terms of meeting the primary needs of both target and acquirer shareholders. The appropriateness of the offer price should reflect your preliminary thinking about the deal structure.

 

7. Financing plan [1/2 page]: Using the combined/consolidated financial statements, determine if the proposed offer price can be financed through some combination of cash, stock, or borrowing without endangering the combined firm’s credit worthiness or seriously eroding near-term profitability and cash flow.

 

8. Integration plan [1/2 page]: Identify potential integration challenges and possible solutions. (For those characterizing themselves as financial buyers, integration may not apply. Instead, they should identify an appropriate “exit” strategy.)

 

9. Conclusion: [<1 page] Recommendations for achieving value in the proposed acquisition supported by key evidence discussed in the narrative.

 

10. References: List articles read and data sources.

 

11. Appendices: Any detailed analyses and charts-tables used to support statements made in the “body” of the paper should be included here. If a chart or table is cited it should have a narrative of no more than 150 words. Unnecessary or un-narrated elements of a chart-table have no grade value. All work must be shown for equation calculations and equations must be plain-language specified. (Source ratio, e.g., Morningstar, must have an equation spec.)