Investment Decisions In Different Insurance Policies

Investment Decisions In Different Insurance Policies There are three types of investors: conservative, moderate, and aggressive. The different types of investments also cater to the two levels of risk tolerance: high risk and low risk. Conservative investors often invest in cash. This means that they put their money in interest bearing savings accounts, money market accounts, mutual funds, US Treasury bills, and Certificates of Deposit. These are very safe investments that grow over a long period of time. These are also low risk investments. Moderate investors often invest in cash and bonds, and may dabble in the stock market. Moderate investing may be low or moderate risks. Moderate investors often also invest in real estate, providing that it is low risk real estate. Aggressive investor is an investor who is willing to accept a higher degree of investment risk in exchange for a chance to earn a higher rate of return. Investment risk is the volatility of investment returns. A basic investing principle states that a higher degree of investment risk is required to earn a potential higher rate of return. What is insurance Meaning of Insurance Insurance provides financial protection against a loss arising out of happening of an uncertain event. A person can avail this protection by paying premium to an insurance company. A pool is created through contributions made by persons seeking to protect themselves from common risk. Premium is collected by insurance companies which also act as trustee to the pool. Any loss to the insured in case of happening of an uncertain event is paid out of this pool. Insurance works on the basic principle of risk-sharing. A great advantage of insurance is that it spreads the risk of a few people over a large group of people exposed to risk of similar type. Definition Insurance is a contract between two parties whereby one party agrees to undertake the risk of another in exchange for consideration known as premium and promises to pay a fixed sum of money to the other party on happening of an uncertain event (death) or after the expiry of a certain period in case of life insurance or to indemnify the other party on happening of an uncertain event in case of general insurance. The party bearing the risk is known as the insurer or assurer and the party whose risk is covered is known as the insured or assured. Definition A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance. Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed and known small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Cultural factor; Culture is fundamental determinant of a persons needs and behavior. People acquire a set of value, perception and behaviors through his or her family and other institution. Indian people want achievement and success, comfortable efficiency and practicality, freedom and youthfulness. In other word there are multicultural environment in India. Indian loves their family and they want to secure their family from unnatural event. Indian give first preference to his family after than others. They do not want to take loan and they want to invest their money in long-term investment for child education and marriage. When we say about metropolitan city, dependency on old age on son is decreasing. People want to accumulate some fund for old age so ICICI Prudential should concentrate on gratuity or pension plan. Indian people also affected from sub culture. Urban people want to take more insurance comparison than rural (due to high per capita income, insurance awareness, social security, investment purpose, tax saving purpose). Religion also effect on insurance. ICICI Prudential is using this thing very well. They use sinduor and marriage in their advertisement and show that when you marriage from someone, her all liabilities is your liabilities and we will help you in this situation. We will make relation as like as sindur (here means long term stable relationship). In other word ICICI Prudential want to say that we will cover you at every step in life (sorrow or happiness). Consumer behavior is also affected from reference group. Firstly, people see that which insurance is bestseller after that they purchase. They also influence from agent. People do not concentrate on their need due to agents influence. Social class also affect on consumer behavior. Lower class does not want insurance. Up per lower class wants insurance for saving purpose. Working and middle class want insurance for protection and saving purpose and lastly, upper class want to purchase insurance for investment tax benefit and saving purpose. Social factor; Consumers are also influenced by social factor for example; reference group, family, and social role and status. Consumer behavior is firstly influenced from membership group such as family, neighbor and co-worker. Insurance is such type of product where people awareness is very low so people do not very much about insurance. They think, insurance is only tax saving instrument so they fully dependent on agent for taking insurance. When agent say about any product, that time they inquiry from neighbor and co-worker about that product. If any body suggests that, this product and I have also taken this product. Individual think that, this product also best for him. He does not concentrate on his need and requirement. Secondly, he is influenced by information influences. If he goes to purchase insurance, he makes enquiry about this product from his personal sources. He study newspaper and search on Internet and gather all information related product. If he is satisfied from that information, he decides to buy insurance. People also influence from opinion leader, this opinion leader may be Mukhiya, or Surpanch in rural area or this may be any leader, actor or cricket player in urban area. If opinion leader say or advertise about any product, people are influenced from opinion leader because opinion leader keep good position in society. Family and household pattern also influence consumer behavior. Due to less security of individual family, people want to purchase insurance, but in joint family people give less attention in buying insurance. If all family are well earning, there are given less attention on insurance in such family. But if earning member is less and dependent is more in such type of family insurance is very important. Women want more security so women are taking main role in purchase decision where, women influence consumer behavior. Personal factor; A consumer decision is also influenced by personal characteristics for example the buyer age and stage in life cycle, occupation and economics circumstances, personality, self-concept, life style and value. When we say about age and life, first is bachelor stage. They are generally young independent and they are in early stage of his carrier and earning. They mostly think that they have no need of insurance because in that time they have no dependent. However, some people have some dream and dependent also. They are in such stage where they can take more risk so they mostly prefer to invest in ULIP. Second stage is newly married. In that stage people need and buying decision is influenced from their future plan and earning capability. If they have to plan for purchase flat that time, they will need term insurance. There after stage is one or two children after marriage, they will be influenced from future need. They will accumulate fund for children marriage and education, they can be plan time-to-time vacation. In forth stage, they want to accumulate for retirement. People want to live alone after old age or in peaceful place so they are ready to start saving for old age. Attitude also affect consumer behavior positive attitude (about his life) person will take pension plan because people think that they will live more. But negative attitude person will take life insurance because they worry about their life. Review of Literature Mehr and Cammack (1976) agrees that Insurance is usually thought of as a product that spreads the risk of serious, but low-probability, losses among a group of individuals, thus providing some financial protection to each individual. Kunreuther, (1979) said that his product makes good sense, particularly when the protection is purchased against potential losses so large as to be catastrophic, such as total destruction of ones home, a large accident liability judgment, or death of primary family breadwinner. However, it has long been recognized that this sensible product is difficult to sell.v Kotler, (1973) considers insurance to be in the category of unsought goods, along with products such as preventive dental services and burial plots.He notes that unsought goods pose special challenges to the marketer. Slovic, Fischhoff, Lichtenstein, Corrigan, and Combs (1977) found that subjects were more likely to buy insurance against small, high-probability losses than insurance against large, lowprobability losses, Hershey and Schoemaker (1980) reported the opposite result. Kunreuther (1979) It is not the magnitude of a potential loss that inspires people to buy insurance voluntarily it is the frequency with which a loss is likely to occur. Kahneman Tversky, (1979) reported a risk-averse individual, therefore, should avoid nearly all types of risk. Empirical evidence, however, suggests most people are risk averse for gains and risk seeking for losses. Kahneman Tversky, (1984) stated indeed, repeated demonstrations have shown most people lack an adequate understanding of probability and risk concepts Dhar, (1997) Greenleaf and Lehmann, (1995) Tversky and Shafir, (1992) have shown that offering more options can generate decision conflict and preference uncertainty, leading to decision deferral. Michael L. Smith (1982) said that a typical life insurance contract provides a package of options or rights to the policy owner that is not precisely duplicated by any other combination of commonly available contracts. Viewed from this perspecti ve, life insurance enjoys a unique position in the field of investments and should be judged in this light. The paper shows that an options viewpoint provides a more complete explanation of policy owner behavior towards life insurance than the conventional savings-and-protection view. Michael L. Walden (1985) told that the options package view of the whole life insurance policy suggests that a whole life policy is a package of options, each of which has value and is expected to influence the price of the policy. This viewpoint implies the general hypothesis that price differences between whole life policies can be explained by differences in policy contract provisions and differences in selected company characteristics. The options package theory was empirically investigated using regression analysis on data from a sample of policies marketed in North Carolina. The results suggest support for the options package theory. Kirchler and Angela-Christian Hubert (1999) found that the present study aims at describing spouses relative dominance in decisions concerning different forms of investment. As determinants of spouses dominance, partnership characteristics, such as partnership role attitudes, marital satisfaction and individual expertise in relation to different investments, were considered. A questionnaire on spouses dominance in making decisions on various investments, on the characteristics of particular investments and on partnership characteristics was completed by 142 Austrian couples. Basically, wives appeared to adapt to the dominance exerted by their husbands in savings and investment decisions. Wives dominance was highest in egalitarian partnerships, where autonomic and wife dominated decisions were reported m ore frequently than in traditional partnerships. Additionally, spouses relative expertise in relation to the investments in question showed strong effects on dominance distribution: Spouses with higher expertise than their partners exerted more dominance in decision-making processes. Amy Wong, (2004) empirically examined the role of emotional satisfaction in service encounters. Specifically, this study seeks to: investigate the relationship between emotional satisfaction and key concepts, such as service quality, customer loyalty, and relationship quality, and clarify the role of emotional satisfaction in predicting customer loyalty and relationship quality. In doing so, this study used the relationship between emotional satisfaction, service quality, customer loyalty, and relationship quality as a context, as well as data from a sample survey of 1,261 Australian retail customers concerning their evaluation of their shopping experiences to address this issue. The results show that s ervice quality is positively associated with emotional satisfaction, which is positively associated with both customer loyalty and relationship quality. Further investigations showed that customers feelings of enjoyment serve as the best predictor of customer loyalty, while feelings of happiness serve as the best predictor of relationship quality. The findings imply the need for a service firm to strategically leverage on the key antecedents of customer loyalty and relationship quality in its pursuit of customer retention and longterm profitability. Stephen Diacon (2004) presents the results of a detailed comparison of the perceptions by individual consumers and expert financial advisers of the investment risk involved in various UK personal financial services products. Factor similarity tests show that there are significant differences between expert and lay investors in the way financial risks are perceived. Financial experts are likely to be less loss averse than lay investors, b ut are prone to affiliation bias (trusting providers and salesmen more than lay investors do), believe that the products are less complex, and are less cynical and distrustful about the protection provided by the regulators. The traditional response to the finding that experts and non-experts have different perceptions and understanding about risk is to institute risk communication programmes designed to re-educate consumers. However, this approach is unlikely to be successful in an environment where individual consumers distrust regulators and other experts. Helmut Grà ¼ndl, Thomas Post, Roman Schulze, (2005) found that demographic risk, i.e., the risk that life tables change in a nondeterministic way, is a serious threat to the financial stability of an insurance company having underwritten life insurance and annuity business. The inverse influence of changes in mortality laws on the market value of life insurance and annuity liabilities creates natural hedging opportunities. Eva n Mills, Ph.D.(1999) Studied the insurance industry is rarely thought of as having much concern about energy issues. However, the historical involvement by insurers and allied industries in the development and deployment of familiar technologies such as automobile air bags, fire prevention/suppression systems, and anti-theft devices, shows that this industry has a long history of utilizing technology to improve safety andotherwise reduce the likelihood of losses for which they would otherwise have to pay. We have identified nearly 80 examples of energy-efficient and renewable energy technologies that offer loss-prevention benefits, and have mapped these opportunities onto the appropriate segments of the very diverse insurance sector (life, health, property, liability, business interruption, etc.). Some insurers and risk managers are beginning to recognize these previously hidden benefits. Roger. A. Formisano (1981) examined, via consumer interviews, the impact of the National Associ ation of Insurance Commissioners Model Life Insurance Solicitation Regulation as implemented in New Jersey. A substantial portion of the insurance buyers sampled did not become aware of the provisions of the regulation aimed to improve their buying ability. Further, many life insurance buyers were not well informed concerning the nature and operation of life insurance contracts, and in particular, the life insurance policies that they had purchased. theory was empirically investigated using regression analysis on data from a sample of policies marketed in NorthCarolina. The results suggest support for the options package theory. Kirchler and Angela-Christian Hubert (1999) found that the present study aims at describing spouses relative dominance in decisions concerning different forms of investment. As determinants of spouses dominance, partnership characteristics, such as partnership role attitudes, marital satisfaction and individual expertise in relation to different investments, were considered. A questionnaire on spouses dominance in making decisions on various investments, on the characteristics of particular investments and on partnership characteristics was completed by 142 Austrian couples. Basically, wives appeared to adapt to the dominance exerted by their husbands in savings and investment decisions Wives dominance was highest in egalitarian partnerships, where autonomic and wife-dominated decisions were reported more frequently than in traditional partnerships. Additionally, spouses relative expertise in relation to the investments in question showed strong effects on dominance distribution: Spouses with higher expertise than their partners exerted more dominance in decision-making processes. Amy Wong, (2004) empirically examined the role of emotional satisfaction in service encounters. Specifically, this study seeks to: investigate the relationship between emotional satisfaction and key concepts, such as service quality, customer loyalty, and rel ationship quality, and clarify the role of emotional satisfaction in predicting customer loyalty and relationship quality. In doing so, this study used the relationship between emotional satisfaction, service quality, customer loyalty, and relationship quality as a context, as well as data from a sample survey of 1,261 Australian retail customers concerning their evaluation of their shopping experiences to address this issue. The results show that service quality is positively associated with emotional satisfaction, which is positively associated with both customer loyalty and relationship quality. Further investigations showed that customers feelings of enjoyment serve as the best predictor of customer loyalty, while feelings of happiness serve as the best predictor of relationship quality. The findings imply the need for a service firm to strategically leverage on the key antecedents of customer loyalty and relationship quality in its pursuit of customer retention and longterm pro fitability. Stephen Diacon (2004) presents the results of a detailed comparison of the perceptions by individual consumers and expert financial advisers of the investment risk involved in various UK personal financial services products. Factor similarity tests show that there are significant differences between expert and lay investors in the way financial risks are perceived. Financial experts are likely to be less loss averse than lay investors, but are prone to affiliation bias (trusting providers and salesmen more than lay investors do), believe that the products are less complex, and are less cynical and distrustful about the protection provided by the regulators. The traditional response to the finding that experts and non-experts have different perceptions and understandings 4 about risk is to institute risk communication programmes designed to re-educate consumers. However, this approach is unlikely to be successful in an environment where individual consumers distrust regul ators and other experts. Helmut Grà ¼ndl, Thomas Post, Roman Schulze, (2005) found that demographic risk, i.e., the risk that life tables change in a nondeterministic ay, is a serious threat to the financial stability of an insurance company having underwritten life insurance and annuity business. The inverse influence of changes in mortality laws on the market value of life insurance and annuity liabilities creates natural hedging opportunities. Evan Mills, Ph.D.(1999) Studied the insurance industry is rarely thought of as having much concern about energy issues. However, the historical involvement by insurers and allied industries in the development and deployment of familiar technologies such as automobile air bags, fire prevention/suppression systems, and anti-theft devices, shows that this industry has a long history of utilizing technology to improve safety and otherwise reduce the likelihood of losses for which they would otherwise have to pay. We have identified nearly 80 e xamples of energy-efficient and renewable energy technologies that offer loss-prevention benefits, and have mapped these opportunities onto the appropriate segments of the very diverse insurance sector (life, health, property, liability, business interruption, etc.). Some insurers and risk managers are beginning to recognize these previously hidden benefits. Roger. A. Formisano (1981) examined, via consumer interviews, the impact of the National Association of Insurance Commissioners Model Life Insurance Solicitation Regulation as implemented in New Jersey. A substantial portion of the insurance buyers sampled did not become aware of the provisions of the regulation aimed to improve their buying ability. Further, many life insurance buyers were not well informed concerning the nature and operation of life insurance contracts, and in particular, the life insurance policies that they had purchased. Description of factors 1. Company Loyalty This factor includes that this is the only company the consumer wants to associate himself with, in future .himself would purchase more policies from the same company , suggest friends and family to purchase policy from the same company , company able to fulfill expectation, , Policy benefits benchmarks . The highest Eigen value lies in this factor 35.213. So it is been considered as the highly contributing factor towards study. Therefore it is clear that company loyalty plays an important role in investment decisions of investors. 2. Services Quality This factor includes hassle free settlements , employees responsible towards customers agents respond promptly , investment in life insurance is more secure than stock market satisfy with relationship to company . . Ease of Procedures This factor includes the company provides claims on time cooperative and friendly agent , settlement of claims easy and timely , agent is well informed about policies. As we can see, that the Eigen value for factor ease of procedures is 5.830 , which is also a contributing factor towards the study, so it can also be considered as an important factor in the study. 4. Satisfaction Level This factor includes that the suggested benefits of Insurance Policy should be met to the investors, Company provides them satisfactory services , fulfill its promise about life insurance policy , Services should be provided on time, and awareness of terms and conditions of policies. As we can see, that the Eigen value for factor satisfaction level is 5.008 , which is also a contributing factor towards the study, so it can also be considered as an important factor in the study. 5. Company Image This factor includes that the insurance company should be well known in the industry , insurance provider should have goodwill in market (0.758),and company of high repute As we can see, that the Eigen value for factor company image is 4.878, which is also a contributing factor towards the study, so it can also be considered as an important factor in the study. 6. Company-Client Relationship This factor includes that the agent remind about premium installments. personal attention on every consumer and understand consumers financial needs . As we can see, that the Eigen value for factor company client relationship is 4.051, which is also a contributing factor towards the study, so it can also be considered as an important factor in the study. CONCLUSION In present Indian market, the investment habits of Indian consumers are changing very frequently. The individuals have their own perception towards various types of investment plans. The study of this research work was focused over consumers perception on investment towards Life Insurance Services. The consumers perception towards Life Insurance Policies is positive. It developed a positive mind sets for their investment pattern, in insurance policies. Still some actions are needed for developing insurance market. The major factors playing the role in developing consumers perception towards Life Insurance Policies are Consumer Loyalty, Service Quality, Ease of Procedures, Satisfaction Level, Company Image, and Company-Client Relationship. Insurance industry has to go ahead. A lot of opportunities are still waiting. This research will help in developing the market share, loyalty and further development in insurance sector. .

Parallel in events of 1692 in Salem and McCarthy Investigation of 1950s in America :: essays research papers

‘The Crucible’ is written about the witchcraft trials in Salem in 1692, it is a story full of many emotional themes, these are fear, redemption, hysteria and a choice between what is believed to be good and bad. In 1692, Puritans in Salem were in a period of suspicion and fear. People were making accusations of people conducting witchcraft due to a group of people seen dancing in the woods, this is seen as worship to the devil. These witch hunts destroyed the innocent and corrupted the accusers, the law made it impossible to find justice. In 1950, Senator Joseph McCarthy had a frenzied leadership in America. It all started when he claimed that there were many avowed Communist in the American government. There was no proof, but anyone who criticised McCarthy’s claims were accused of being communists themselves, people were claimed to be ’Communist Sympathisers’ and were put on trial and even executed, even those who escaped death or prison were blacklisted and their whole lives were ruined socially and through their careers, this was known as the period of McCarthyism. The events in 1692 and 1950 are very similar because they both involve similar effects upon people. They create fear and redemption, a fight for what is right and what your conscience tells you. In 1692, people were being wrongly accused of witchcraft, they were put on trial and executed, this is exactly the same as the events in 1950, people were being accused of communism, they were also put on trial and executed. In Salem it was due to the girls dancing in the woods and being accused of worshiping the devil, in America in 1950 it was due to the accusations of Senator Joseph McCarthy, which he could not prove. Miller could not criticise Senator McCarthy at the time of his power as the atmosphere at the time was such that he would certainly have been charged as a Communist, so he decided he would write about the Salem witch trials in the 17th century, it shows how the trials in Salem were very similar to the McCarthy period, it was even referred to as a ‘witch hunt’ by critics. In both periods there was a varied atmosphere of fear, redemption, hysteria, terror and shear brutality. But no matter if there were Communists in America in 1950, no matter if there were witches in Salem in the 1600’s, the search for both cause destruction to the lives of the innocent and corruption to the accusers.

Mattel Inc. Stock :: essays research papers fc

Mattel Inc. (MAT) The Mattel Company, best known for its Barbie dolls, is the world's largest toy maker. In March 1997, it acquired Tyco toys the third largest U.S.-based toy maker. Its product lines include Fisher-Price and Sesame Street preschool items, Disney-related products and Hot Wheel miniature vehicles.   Ã‚  Ã‚  Ã‚  Ã‚  They type of industry Mattel is located under, is dolls and stuffed toys, although they have other types of products such as Hot Wheels. This company is under monopolistic competition. They sell their products in many stores, such as Toys ‘R Us, KB Toys, K-Mart, Walmart, and others.   Ã‚  Ã‚  Ã‚  Ã‚  Some of Mattel’s competitors include Marvel Enterprises Inc. and Hasbro Inc. Marvel Enterprises (formerly Toy Biz) publishes comics based on more than 3,500 characters including Spider-Man, The Incredible Hulk, and the X-Men. The company, North America's top comic publisher through its Marvel Entertainment subsidiary, also makes action figures, games, and puzzles based primarily on its Marvel characters.   Ã‚  Ã‚  Ã‚  Ã‚  Hasbro is a worldwide leader in the design, manufacture and marketing of toys, games, interactive software, puzzles and infant products. Included in its offerings are games, traditional board and card, hand-held electronic and interactive CD-ROM, and puzzles, preschool, boys' action and girls' toys, dolls, plush products and infant products.   Ã‚  Ã‚  Ã‚  Ã‚  The company’s business activities include many things. The standards address a wide spectrum of issues, ranging from on-the-job concerns, such as factory lighting, air quality and health care facilities, to acceptable parameters for dormitories and recommendations for recreational programs. They serve as the principles by which Mattel's internal and independent monitoring programs are measured around the world. While the development of a code of conduct/manufacturing principles is essential to success, enforcement of the code is equally as important. Mattel has initiated an extensive three-stage auditing process, which is overseen by an independent monitoring council, to thoroughly inspect both the company's owned-and-operated facilities around the world, as well as those of all core contractors. If a contractor facility is either unable or unwilling to work with Mattel in order to meet and maintain its standards, however, Mattel will discontinue the workin g relationship.   Ã‚  Ã‚  Ã‚  Ã‚  I think that the stock price rose due to the company flourishing. Mattel has many extraordinary products that have been around for years, and many more to come. This company seems very stable. They keep their customers happy and keep them coming back for more. Now that the holidays are coming near, I predict that the company will do very well and the stock will go up once again.

A Critique of Nelson Goodman’s Concept of the New Riddle

The development of the method of induction has been privy to the presentation and solution of riddles. At the initial level of its development, it has been privy to the old riddle of induction discovered by Hume. After the solution of the former riddle, however, a new riddle of induction was discovered by Nelson Goodman. In lieu of this, this paper opts to consider the development of the method of induction as a methodology defined by Hume and Goodman’s conception of the Inductive method.Induction refers to â€Å"a method of reasoning by which a general law or principle is inferred from observed particular instances† (Flew 171). The method of inductive inference may be considered as the primary means through which justifications are formulated to show the relationship of evidence towards particular assumptions (Norton 2). The process of induction, in this sense, may be seen to arise whenever we note that evidence lends support to a hypothesis while in the process failin g to establish its deductive certainty. It was such a formulation of the method of induction that enabled the conception of the first riddle. What follows is a presentation of the main arguments of the aforementioned riddle as formulated by David Hume.Hume argued that since no necessary connections exists between empirical phenomena, it is always possible that a future observation will prove our inferences wrong no matter how appealing it may have been or how richly supported by past observations. This problem, in the more recent formulations of the problem has been referred to as the uniformity principle [in this sense the lack of such uniformity].According to the argument, nature has no uniformity. If such is the case it thereby follows that there is no voucher that which ensure the consistency of man’s most refined predictions. It might be argued that such an assumption has never been denied in the formulation of predictions however there has been agreement regarding the r esults of such an agreement [or lack thereof] within the province of induction. To some, it means that induction is never valid or justified, while to others, it means that induction simply calls for different standards of validity (Landesman 164). The latter view strips the aforementioned riddle [Humean riddle] of its problematic context.This is evident if one considers that since the rules of deductive validity are inapplicable to induction, it cannot be a problem that inductive inference is unavoidably attended by the possibility that a future observation may prove it wrong (Goodman 4). The old riddle is then dismissed because it cannot possibly be the genuine problem of induction.Fact, Fiction, and Forecast present Goodman’s construal of what he refers to as the new riddle of induction. After refuting the old riddle of induction [the refutation of which is evident in the former paragraph], Goodman proceeds to outline what he takes to be the genuine problem of induction an d its tentative solution. The problem of induction, he writes, is a problem of demonstrating the difference between valid and invalid predictions (Goodman 4).According to Goodman, a prediction is valid if it conforms to a valid rule of induction, and a rule is valid if it yields valid predictions. He acknowledges that such an assumption is characterized by circularity however he notes that it is important to perceive such a conception of the problem in terms of the conceptions of justifications for arguments.   Goodman notes that inductive predictions based on past regularities work better than those based on any other alternative. If such is the case, the rules for formulating predictions must be constructed in such a way that they will coincide with common practices of inductive reasoning.This, on the other hand, is further developed by the quality of predictions, which it produces. This is clearly explicated by Rubenstein as he notes, â€Å"the centerpiece of a valid inductive logic [according to Goodman] is its reliance on past regularities, and the prescriptive mandate of inductive validity is inseparable from a descriptive account of how inductive judgments are commonly made† (39). This has been the result of Goodman’s dissolution of the old riddle of induction. What follows this is Goodman’s explication that the most promising solution of the aforementioned riddle is untenable. It is through the introduction of such untenability that Goodman presents what he perceives to be the new riddle of induction.Goodman presents two hypotheses that are to be addressed through the use of the inductive method. One says that all emeralds are green and the other says that all emeralds are grue, where grue is said to apply to all things examined before t just in case they are green but to other things just in case they are blue (Goodman 10). Both hypotheses seem to be equally well supported by the evidence: all emeralds examined prior to t have b een found to be green and grue. However, the two hypotheses are mutually exclusive. If emeralds are grue, they will be blue at t and thereafter, but if the alternative hypothesis is correct, they will be green. Thus, we are left with the paradox that Goodman christened the ‘new riddle of induction'.We cannot, after all, justify induction by appealing to past regularities. However, the reason, according to Goodman, is not the lack of the elusive uniformity principle, but the previously unrecognized ubiquity of regularities.   According to Goodman, regularities exist where one finds them. In relation to this Goodman states that one, however, finds them everywhere (12). If such is the case, it therefore follows that it is useless to base inductive validity on past regularities since it is not possible to predict and hence distinguish which regularities are valid and invalid.At this point, I would like to present a summary of the aforementioned discussion. In the aforementioned discussion, Goodman believes that the old riddle [the Humean riddle/the uniformity principle] has been dissolved and that induction is justified by past regularities. The only remaining difficulty he sees, however, lies in finding a rule for distinguishing between regularities that do and do not yield valid inductive predictions.As was noted in the above discussion, the possibility of such is not possible. This is evident if one considers that regularity necessitates the occurrence of acts of inductive inference. Therefore, the genuine problem of induction cannot be the distinction between the distinction of regularities that do or do not yield valid inductive predictions since the specification of such necessitates the formulation of inductive inferences.As I reckon, Goodman aforementioned conception fails to account for the process of induction. It is important to note that Goodman contends that induction begins with regularity. Rubenstein notes, â€Å"induction does not begin wi th regularity – it ends with it† (44). The failure to consider this leads Goodman to misconstrue the problem of induction.It is important to note that experience of reality does not necessarily start with regularities but rather with individual observations. The role of induction, in this sense lies in providing us with justified methods that allows us to posit the observations that we will account for as regularities. Goodman, however, failed to account for this.In addition to this, it is important to note that such a failure can also be traced to Goodman’s assumptions regarding the process in which individuals formulate inferences. Goodman's error is compounded when he makes a distinction between identifying regularity and projecting it. Once we have decided that our observations represent regularity, it is automatically projected in both temporal directions. This is, in fact, what we mean by applying the term regularity to our data.Furthermore, Stich and Nisbe tt contend that the â€Å"equilibrium with inductive practices† that Goodman posited as a necessary aspect in formulating a valid inductive methodology is â€Å"neither necessary nor sufficient for a rule of inductive inference to be justified† (194). They argue that such an assumption fails to consider that â€Å"human subjects regularly and systematically make invalid inferences† and that there an instance wherein human reasoning enables an individual to â€Å"accept invalid rules and reject valid one’s that ought to govern the inference at hand† (Stitch and Nisbett 194).In summary, the aforementioned paper presented Goodman’s arguments in relation to his conception of the new riddle in induction. Such a riddle, however, under scrutiny may be seen as based upon a mistaken assumption of the justification process of beliefs that necessitates the introduction of information garnered through the method of induction. This is evident, for exampl e, if one considers the manner in which observations enable the formulation of regularities and not the other way around. An analysis of Goodman’s supposed riddle of induction thereby leaves the reader wondering if such a riddle may be considered as a valid concern for the adherents of the inductive methodology.Works CitedFlew, Anthony.   A Dictionary of Philosophy.   London: Pan Books, 1983.Goodman, Nelson.   Fact, Fiction, and Forecast.   Massachussets: Harvard University Press, 1983.Landesman, Charles.  Ã‚   Skepticism: The Central Issues.   London: Blackwell Publishing, 2002.Rubenstein, Arthur.   â€Å"Induction, Grue Emeralds and Lady Macbeth’s Fallacy.†Ã‚   The Philosophical Quarterly 48.190 (Jan. 1998): 37-49.Stitch, Stephen and Richard Nisbett.   â€Å"Justification and the Psychology of Human Reasoning.’   Philosophy of Science 47.2 (Jun. 1980): 188-202.

Health and Safety Assignment Essay

Question 1 The first statement is correct as lead is a highly intoxicated substance that can cause damage, especially in young children. There are many symptoms to lead poisoning which include: irritability, loss of appetite and nausea, headaches, unexplained abdominal pain, muscle aches, constipation, learning problems, short attention span, easily distracted, mental retardation and behaviour problems including aggression and impulsivity. As seen in the statement â€Å"this is disturbing because it has been well established that lead causes reduction in IQ scores, shortened concentration spans, hyperactivity and learning difficulties even when lead is present at very low levels in the blood† , it can be agreed that having lead in one’s system can cause damage to one’s concentration and learning abilities. Research has shown that raised levels of lead can lower a child’s IQ by 4-5%. see more:explain how to promote health and safety within the social care setting With regards to the second statement â€Å"painted toys with high lead levels have been found in major toy stores, as well as supermarkets, stationary stores, craft shops and craft/flea markets. These toys were both locally produced and imported†, it can be agreed on as lead can be found in many old housing and furniture pieces. It is also of great urgency that when purchasing toys and furniture from garage sales, internet, second-hand-stores etc. that one takes precautions in checking that there is not any lead as some may contain lead based paint, a simple way of knowing if it does is to buy a test kit to determine if lead based paint is present. Question 2 For a baby and toddler unit I would consider: Indoor: * Non-breakable mirrors to learn to see themselves. * Wooden cars for improving gross motor skills. * Rattles to improve their movement. * Plastic telephones to practise their speech. * Simple puzzles to improve their knowledge. * Large wooden beads to string to improve on their hand eye co-ordination. Outdoor: * Balls to improve on gross motor skills * Jungle gym to improve on their climbing abilities. For children aged 3-6 years I would consider: Indoor: * Puppets to improve on their dramatic skills. * Dress-up clothes to teach them the different type of career choices. * Art materials to improve their creative minds. * Books and puzzles to improve on their knowledge. Outdoor: * Tricycles and bikes to improve their balancing skills. * Jungle gyms to improve climbing. * Sand pits to do sensory knowledge, (touch and feel) Question 3 The way in which one would ensure that equipment which you purchased does not cause lead poisoning is by reading the labels on the purchased equipment making sure there is no lead contained in it, try prevent buying used toys and equipment from garage sales, internet, second-hand-stores as many old items may contain lead based paint. It is also advised that children go for screening to make sure no lead is present. Children are encouraged to practice regular hand washing and to keep their hands and other objects away from their mouths. Question 4 Birth – 4 months: at this stage the child eats, sleeps, cries rolls off flat surfaces and wriggles. They are hazardous to burns, falls, sharp objects and suffocation. 4 – 12 months : at this stage the child grasps and moves around as well as putting objects in their mouths. They are hazardous to burns, poisoning, falls and drowning. 1 – 2 years : at this stage the child is able to investigate, climb, open doors and takes thing apart. They are hazardous to being in contact with gates, windows and doors as they might get injured with their investigation minds, fingers might get stuck in door etc. also water is hazardous as they may drown, traffic as they now know how to walk. 2 – 3 years: at this stage the child is interested in fires, tires to do things by themselves and gets very impatient. They are hazardous to dangerous objects and burns. 3 – 6 years: at this stage the child lies to explore, climb, riding tricycles, rough games. They are hazardous to poisons and burns, falls and injuries, drowning and traffic. 6 – 10 years : at this stage the child like spending time away from home, active sports. They are hazardous to firearms, injuries from sports and drowning. Through this we can conclude that every one of these ages is vital as the developmental level can affect children’s safety and health and that they should never be left unsupervised and parents should know what to do in an emergency. Question 5 Air-borne transmission include in illnesses such as chickenpox, common cold, fifth disease, measles, mumps and tuberculosis. The measures one would take in these instances would be to identify the child with the illness and send them home, with antibiotics, the child should not be allowed to return to school until fully recovered. All these illnesses and the limitations of the spread apply to all age groups ( birth to grade 3) The faecal-oral route include cholera, rotavirus and ascariasis, can be spread through water, food and poor sewage, to limit the infection one needs to make sure water is clean, food is cooked properly and sewage is flushed away. Food only obtains to children who can eat solid foods, thus not referring to birth to 12 months. Direct and indirect include illnesses such as pinkeye, hand foot and mouth disease, cold sores, lice and ring worms. The measures one would take in these instances would be pinkeye: antibiotic treatment and sent home, continuous hand washing, hand foot and mouth disease sent home for several days and continuous hand washing. A cold sore child can stay at school but must was hands frequently. Lice, child should be sent home until lice is gone, hair must be washed with medicated shampoo. Ring worms, child should stay away from gyms, pools or activities where can be exposed and should use a fungal ointment. These limitations would all be considered to all age groups ( birth to grade 3 ) however gyms, pools etc would only obtain to the older children grade 1 – 3. Blood illnesses include AIDS and hepatitis B, the measures one would take for AIDS is excluding child of 0-5, and prevent anyone from touching the child blood, handle blood with surgical gloves, seal up blood infected items and disinfect surfaces with bleach. Hepatitis B one would also use precautions when handling blood and frequent hand wash is advised. REFERENCE: Marotz, L, 2009. Health, safety and nutrition for the young child. 76de uitgawe. Clifton park, NY: Thomason Delmar Learning

Biology dna

Scope of task Students will be required to complete a Research Report in the form of a Powering presentation OR a weapon. This Task will require students to conduct individual research on a topic relating to genetic engineering. The Report will be the equivalent of 1500 words* and will include a bibliography. The bibliography will not be included in the word count. Students are not required to conduct a class presentation. *1 500 words is the maximum recommended length for this Report.The number of slides in a Powering presentation or weapon will be determined by the creativity f the student and the number of images they wish to include. The Research Report is worth 20% of the final student mark. Students will choose from the following list: Research area Suggested Topics Pre-natal diagnosis of genetic disease. * Cystic fibrosis, hemophilia, thalami's. Pre-symptomatic diagnosis of adult-onset genetic disease. Huntington Disease, breast cancer, bowel cancer.Production of human protein s. Insulin, Human Growth Hormone. Genetically-modified crop plants. Soya, Tomatoes, Golden Rice, BAT Cotton. Gene therapy. Cystic fibrosis, Severe Combined Immune Deficiency Syndrome. DNA profiling. For paternity testing, for breeding of captive endangered species, in forensics. Genetically modified organisms. Hypoallergenic cats, Environ TM – pigs, Estrangement Atlantic salmon Stem Cell Research. Type 1 diabetes, Nervous system diseases, Cancer, Primary immunodeficiency disease Cloning.Therapeutic cloning (type 1 diabetes), Reproductive cloning (e. G. Production of Dolly the sheep by nuclear transfer). *N.B.: any student who chose pre-natal diagnosis for their research topic for Biology Unit 1 should not be permitted to choose this topic for this Unit. The report will: introduce the scope of the topic describe the method used in the technology by the scientists in the laboratory include relevant diagrams discuss a social issue arising from the use of the technology include a bibliography of references used.This research project must be structured under the following headings: Introduction Background Genetics Genetic techniques Social issues Bibliography How Task is Approached Task is first introduced as early as possible during Week One and students are given a deadline (as stated in the teaching plan) to get the topic approved by the Teacher. Follow these steps: First, select a topic of interest that falls under one of the research areas given in the table above. Then, proceed to carry out a literature / library research on that topic and collect research articles related to that topic.Make sure your articles have the necessary information to write the introduction, history or background, method and social issues as described in the rubric. Confirmation of the topic is on a first come – first served basis whereby the teacher will approve the topic once the students meet the criteria above. Every student will have his/her own topic; no two stude nts are allowed to write the same topic from that class. Once your topic is approved by the Teacher, make sure you register your topic with your Teacher. You are then given 4 weeks to submit your slides – refer to the deadline given in the teaching plan.You are encouraged to submit drafts of your work. For a guide, refer to the samples of past research reports. Always refer to the assessment rubric attached to ensure that you are on the right track. The Knowledge, Skills and Behaviors outcomes achieved at the end of this task are dependent on the topic chosen. Below are some of the outcomes you should achieve. Unit Knowledge Outcomes At the end of this Unit students will be able to: 1 . Report on a specific area of interest within the field of genetic engineering 2. Apply their knowledge to new situations Unit Skills and Behaviors Outcomes 1 . Accurately use and apply biological terms in their appropriate context 2. Calculate ratios, proportions and probabilities as relevant to the study of Biology 3. Draw graphs using appropriate conventions 4. Appraise a range of different resources as part of the research process 5. Differentiate between useful and distractive information both in assessment tasks ND from the internet 6. Design and create a presentation report using appropriate software and IT facilities 7. Discriminate between and review differing points of view that exist relating to advances in biotechnology 8. Valuate experimental designs 9. Demonstrate written communication skills via practical reports and research reports How the task covers literacy, innumeracy, CIT and thinking skills Literacy Students will: organize and coherently present information in a report convert information gained through research into their own words relate a social sue in an objective fashion (using scientific expression) Compile a bibliography using a standard format. CIT use the internet as a research tool appraise internet sources for their relevance and validity use Powering to compose a report OR create a weapon.Thinking Skills summarize the main steps involved in an example of genetic engineering Appraise differing points of view that exist about a relevant social issue. How the task covers the MUFF Graduate Attributes Personal and social growth attributes survey a sample of individuals from various backgrounds to establish the different mints of view that exist regarding an example of genetic engineering critically evaluate research material and select relevant content apply an ethical approach to reporting the views of others.Lifelong learning attributes develop flexibility in thinking and learning through appraisal and subsequent summary of research material conduct an individual research activity write a report that summarizes material gained through their own research develop their ability to work independently organize knowledge gained on an example of genetic engineering use software to compose a research report SE the internet to conduct research develop the ability to draft and finalist a report. mints of view that exist regarding an example of genetic engineering. Suggested approaches Students will select a topic from a short list provided by the teacher. Students will â€Å"sign off' on their topic four (4) weeks prior to final submission date. An outline of the final report structure will be provided to students as a guide. Students may submit drafts of their work. Class time may be used for research and compilation of findings but it is expected that most of the required work will be completed outside of scheduled lessons/ structures.Ways of meeting approaches The Task should be introduced to students as early as possible, preferably during Week One. The outline provided to students should be structured to provide a guide for their research. The guide will follow the assessment criteria in the assessment rubric for this Task. Steps that may be involved in scaffolding the nature of the assessment task Students should be encouraged to draft their work. As relevant topics are covered in class, reference should be made to the usefulness of the content regarding this Task.

Exam Topics Home Ownership, Neighborhood Essay

Home ownership Home ownership is one of the definitions of success in America. Generally people are judged by the houses they live in. It is not only the size and architecture of the house but also the type of neighborhood and the distance from different amenities. The progress in buying a house of one’s own was steady from the 1930s right up to 2000. By 2000 69,8 million Americans lived in their own homes. But then the steady growth stopped and started falling back. By the end of the eighties the home-ownership rate had declined to 63,4 percent. Why did this happen? The basic reason for the turnaround is simply that home ownership, which was never cheap, has gotten more and more expensive. The reasons are follows. Ownership costs are increasing more than income. Cash down payments are out of any proportion as compared to what they were twenty years ago. Monthly principal (mortgage) and interes payments for a medium house are soared. Prices for homes are so inflated, particularly in good and safe neighborhoods, that tthey are beyond most people’s budget. Life-style changes are also influencing the home-ownership rate. There are more singles and childless couples who are unwilling to commit themselves to a mortgage. Steady home prices and a strong market formerly contributed to mobility, but owners can now find themselves immobilized by deflated but still expensive housing that can take a year or more to sell. Home ownership is becoming a thing of the past. Some experts predict that builders will eventually move toward smaller, more moderately priced housing demanded by many people. Owning is still far less risky than renting, since costs can be fixed with a long-term mortgage. Besides, the underlying desire to â€Å"be your own boss† is deeply ingrained in the American consciousness. Neighborhood Neighborhoods are an important element of the setting for a house. They may be steady or not, friendly or not, clean or not, safe or not. The list of qualifying adjectives can be endless. And still you must live with it if you have a house in this neighborhood. The ethnic origin and economic status of the people who live in the neighborhood often define it. Few neighborhoods today are static. They are constantly changing: people of different ethnic groups and economic status are beginning to live together in the same  neighborhoods. Many young professionals (doctors, lawyers, academics, etc.) move into traditionally poor neighborhoods because they can find larger and less expensive housing there. These young professionals often have money and power and they cause changes in the character of the neighborhood. This process is called â€Å"gentrification†. It then becomes too expensive for the poor residents and they move on. This is a way a poor, unfashionable inner city neighborhood may change into a very expensive area in the course of several years. The atmosphere of neighborhoods is also changing. Formerly one could always borrow a couple of eggs or a ladder from the friend next door. But their family has moved, and the people in there now are strangers. Some of the old sentimentality of neighborhoodliness has receded. There is no reason to have friendly ties with the people who live next door to you just because they happened to wander into a real estate office that listed the place next door to yours. The only thing neighbors have in common to begin with is proximity, and unless something more develops, that isn’t reason enough to be best friends. It sometimes happens naturally, but the chances are very small that you neighbors will be your choice as friends. The best relationship with neighbors is one of friendly distance. You say hello, you make small-talk if you see them in the yard, you help each other in emergency. It is easier to produce nostalgia about a neighborhood than about a community, but a community is probably a better unit. A neighborhood is just a bunch of individuals who live in proximity, but a community is a group of people who rise above their individual limitations to get some things done for the public. The American Civil War The American Civil War, also known as the War between the States or simply the Civil War, was a civil war fought from 1861 to 1865 between the United States (the â€Å"Union† or the â€Å"North†) and several Southern slave states that had declared their secession and formed the Confederate States of America (the â€Å"Confederacy† or the â€Å"South†). The war had its origin in the fractious issue of slavery, and, after four years of bloody combat (mostly in the South), the Confederacy was defeated, slavery was abolished, and the difficult Reconstruction process of restoring unity and guaranteeing rights to the freed slaves began. In the presidential election of 1860, Republicans  led by Abraham Lincoln opposed expanding slavery into the territories. Lincoln won but before his inauguration on March 4, 1861, seven cotton-based slave states formed the Confederacy. Outgoing Democrat James Buchanan and the incoming Republicans rejected the legality of secess ion. Lincoln’s inaugural address insisted his administration would not initiate civil war, leading eight remaining slave states to reject immediate calls for secession. A Peace Conference failed to find a compromise. Both sides prepared for war. The Confederates assumed that Europe was so dependent on â€Å"King Cotton† for its industry that they would intervene; none did and none recognized the new Confederate States of America. Hostilities began on April 12, 1861, when Confederate forces fired upon Fort Sumter, a key fort held by Union troops in South Carolina. Lincoln called for the creation of an army to retake it; meanwhile, four border slave states joined the Confederacy, bringing their total to eleven. The Union soon controlled the Border States and established a naval blockade that crippled the southern economy. The Eastern Theater was inconclusive in 1861–62. The fall 1862 Confederate campaign into Maryland ended at the Battle of Antietam, dissuading British intervention. Lincoln issued the Emancipation Proclamation, which made ending slavery a war goal. To the west, by summer 1862 the Union destroyed the Confederate river navy, then much of their western armies, and the Union at Vicksburg split the Confederacy in two at the Mississippi River. In 1863, Robert E. Lee’s Confederate incursion north ended at the Battle of Gettysburg. Western successes led to Ulysses S. Grant command of all Union armies in 1864. In the Western Theater William T. Sherman drove east to capture Atlanta and marched to the sea, destroying Confederate infrastructure along the way. The Union marshaled the resources and manpower to attack the Confederacy from all directions, and could afford to fight battles of attrition through the Overland Campaign towards Richmond. The defending Confederate army failed leading to Lee’s surrender to Grant at Appomattox Court House on April 9, 1865. The American Civil War was one of the earliest true industrial wars. Railroads, the telegraph, steamships, and mass-produced weapons were employed extensively. The mobilization of civilian factories, mines, shipyards, banks, transportation and food supplies all foreshadowed World War I. It remains the deadliest war in American history, resulting in the deaths of an estimated 750,000 soldiers  and an undetermined number of civilian casualties. Historian John Huddleston estimates the death toll at ten percent of all Northern males 20–45 years old, and 30 percent of all Southern white males aged 18–40. Reconstruction. Ku-Klux-Klan Reconstruction of the Union held many promises. Black men and women in the South could move to their new home in Florida. Black refugees quickly poured into these lands. By 1865 40 thousand freedmen were living in their new home. But the opposition to the Reconstruction in the South steadily grew. In 1869 the Ku-Klux-Klan added organized violence to the whites resistance. Despite federal efforts to protect them, black people were intimidated at the polls, robbed of their earnings, beaten or murdered. By the early 1870s the failure of the Reconstruction was apparent. The Military Reconstruction Act of 1867 called for new governments in the South; it barred from political office those Confederate leaders who were listed in the Fourteenth Amendment. But the law required no redistribution of land and guaranteed no basic changes in southern social standards. Terrorism against blacks was widening. Nighttime visits, whippings, beatings, and murder became common. In time, however, the Klan’s purpose became not only economic (to keep the slaves) but also openly political and social. Klansmen also attacked white Republicans and school teachers who were aiding the freemen. Then in 1871 the actions of KKK moved Congress to pass two acts directed against the KKK’s violence. These acts permitted the use of martial law, but they were unsuccessful in combatting the Klan’s activities. The Klan’s terror frightened many voters and weakened local party organization, but it did not stop Reconstruction. Throughout the South conventions met and drafted new constitutions. New governments were set up, and Republicans won majorities nearly everywhere. After 1877 thousands of blacks gathered up their possessions and migrated to Kansas. They were disappointed people who were searching for their share in the American Dream.