For more than three decades, the United States has relied on an all-volunteer force to meet its military needs. Today, the sustainability of that force is being tested with high levels of deployment and subsequent
The project was characterised by
high uncertainty, since neither cost nor time could be accurately estimated. Times of
completion were based on probabilities: optimistic, pessimistic, and most likely. This
led to what has come to be known as the programme evaluation review technique
(PERT). Later a new methodology known as project planning and scheduling (PPS)
was introduced in the private sector. PPS required realistic estimates of cost and
time, and was considered more definitive than PERT.
Oracle Real Application Clusters (RAC)1 is an option to the award-winning
Oracle Database Enterprise Edition. Oracle RAC is a cluster database with a shared
cache architecture that overcomes the limitations of traditional shared-nothing and
shared-disk approaches to provide highly scalable and available database solutions
for all your business applications. Oracle RAC is a key component of Oracle’s
enterprise grid architecture and cloud foundation.
Transparency, predictability and longevity of government programmes are necessary if investors are
to initiate a project in green technologies. For instance, the degree of high uncertainty in American
Production Tax Credits (PTC) was a contributing factor to investor exit from the wind power sector, in
particular - illustrating the importance for governments of ensuring that programmes are not subject to
excessive policy uncertainty (see Figure 2). Retroactive policy changes regarding solar power projects in
Spain have also been concerning investors.
We focus on the recent Spanish credit cycle which largely explains the episodes of financial instability
and uncertainty that the Spanish banking sector suffered during 2009 and 2010. These episodes gave, in
turn, rise to the implementation of bank restructuring plans in 2010 and 2011. We characterize the
sequential evolution of the credit cycle by combining information at the individual security (mortgage-
backed securities, MBS, and asset-backed securities, ABS), institution (i.e. bank), and geographical (i.e.
region in which each bank operates) levels.
Despite the uncertainty around the appropriation and the limited discretionary funds we
project we will have available, this business plan nevertheless will enable CPB to play a
significant leadership role in our industry’s efforts to design and build the public media system
of the future. We will fund major projects in content, television, radio, and digital media
platforms. We will fund educational content that we know through research will help close the
academic achievement gap between affluent and disadvantaged children.
Over 25 million people in the UK spend a large part of their lives
at work. It stands to reason that a psychologically healthy
workforce and a supportive work environment will benefit staff
and employers alike. In a Confederation of British Industry (CBI)
survey of over 800 companies, 98% of respondents said they
thought that the mental health of employees should be a
company concern. Similarly, the large majority (81%)
considered that the mental health of staff should be part of
Ryan (1988) performed an experiment with domestic
chickens (Gallus domesticus) to establish the potential
eﬀects of ingested plastic particles on seabirds. They
were fed with polyethylene pellets and the results indi-
cated that ingested plastics reduce meal size by reducing
the storage volume of the stomach and the feeding
stimulus. He concluded that seabirds with large plastic
loads have reduced food consumption, which limits their
ability to lay down fat deposits, thus reducingﬁtness.
Prior beliefs about pricing models can be useful to someone investing in mutual funds. A
pricing model implies that a combination of the model's benchmark assets provides the
highest Sharpe ratio within a passive universe. That implication is useful to an investor
seeking a high Sharpe ratio, even if the investor has less than complete con¯dence in the
model's pricing accuracy and cannot invest directly in the benchmarks. Prior beliefs about
managerial skill are also important in the investment decision.
Economic conditions, frustration with high
cost levels and limited success in encouraging
employees to adopt healthier lifestyles have been
persistent challenges for companies. Against the
backdrop of health care reform, companies have
never been more uncertain about the future of their
health care programs over the long term.
For nearly a decade, Towers Watson has been
tracking employers’ coni dence in their ability to
sponsor health care benei ts for active employees
10 years into the future.
The use of fixed operating costs as opposed to variable operating costs.
A firm with relatively high fixed operating costs will experience more variable operating income if sales change.
The variability or uncertainty of a firm’s earnings per share (EPS) and the increased probability of insolvency that arises when a firm uses financial leverage.
Toward the end of the 1990s, we approached the coming millennium
with a foreboding that was similar to what our ancestors experienced
a thousand years earlier. In 999, many of them envisioned the new
millennium as ushering in Armageddon and the end of the world.
Today, we are more sophisticated. Like our ancestors, we saw the new
millennium as bringing chaos and uncertainty, but this time it assumed
a peculiarly high-tech and secular cast in the form of what we
called “the Y2K problem.
CHAPTER 10 The Real Option Future. From mining to high-tech projects, the real option concept has infiltrated valuation problems in several areas.1 Real option concepts have been developed to value worker flexibility created through cross-training, or composite risks in a manufacturing environment including demand uncertainty, production risks
For new information to be valuable it must, of course, actually be new information. If
new cost estimation or accounting procedures simply confirm existing beliefs, they have little
likelihood of contributing to changes in decision-making, and thus little likelihood of adding
value. Environmental accounting techniques will be most valuable when they correct beliefs
that are biased or when they focus on issues subject to high degrees of uncertainty.
A focus in much of the environmental accounting literature is on the failure to quantify
environmental benefits and costs.
Neonatal sepsis still remains a significant cause of morbidity and mortality in the newborn, particularly in preterm, low birth weight infants. Despite advances in neonatal care, overall case-fatality rates from sepsis may be as high as 50%. Clinical signs of bacterial infection are vague and non-specific, and up to now there exists no easily available, reliable marker of infection despite a large bulk of studies focussing on inflammatory indices in neonatology. Every neonatologist is faced with the uncertainty of under- or over- diagnosing bacterial infection.
How and when such theoretical uncertainty will translate into actual market movements will
depend on market dynamics. Because of extreme monetary ease, short-term interest rates
have been close to zero for some time and markets expect policy rates to remain low. The
yield curve is quite steep yet long-term interest rates are very low by historical standards.
Graph 4 shows that the US dollar term spread has been around 250–350 basis points since
Climate impacts were monetized using estimates
of the social cost of carbon—the valuation of the
damages due to emissions of one metric ton of car-
bon, of $30/ton of CO2equivalent (CO2e),
low and high estimates of $10/ton and $100/ton.
There is uncertainty around the total cost of climate
change and its present value, thus uncertainty con-
cerning the social cost of carbon derived from the
-Systematic and random error -Accuracy vs precision -Significant figures -Average and standard deviations
ENVI 15 - Analytical Chemistry Lecture 2
Quality Assurance/Quality Control (QA/QC)
Review Harris Chapter 5
A program to produce high quality data with known uncertainty.
ENVI 15 - Analytical Chemistry Lecture 2
Arts-related real estate markets have paradoxical entry
barriers and advantages. There are barriers inherent
in the uncertainty of demand, zoning issues and the
costs of retrofitting old systems. At the same time,
entry barriers are lowered because the space demand is
flexible and often requires minimal high-end fixtures
Art-making, performance, craft production and
exhibition spaces attract users who want to adapt and
re-create space in flexible ways.
The plan of the paper is as follows. Section 1 argues that very high government debt/GDP
ratios will increase uncertainty about the future path of interest rates. This will reduce the
degree of asset substitutability between short-dated and long-dated paper, impairing the
effectiveness of changes to the policy rate and making the short-term/long-term mix of
government debt sales a more effective instrument of macroeconomic policy (Section 2). But
the long-term interest rate on government bonds also has fundamental implications for
financial stability (Section 3).