Accreditation Different Types Of Definitions Of...

If you look into the definition of accreditation there are different types of definitions of accreditation. One can find regarding educational institutes like universities, colleges, student s volunteering and other organisations working for education and youth. Generally accreditation is the act of accreditation or state of being accredit, especially the granting of approval to an institution of learning by an official review board after the school or body has met specific requirement. The term of accreditation usually is used in educational organisations. (www.yourdictionary.com) Here are some different definitions of accreditation provided by different organisations and websites. * Accreditation is a third party attestation related†¦show more content†¦It is important to a person or institution in education that they need to proof that they meet a general standard of quality. If someone gets teaching certificate he has a teaching accreditation. This is an act of granting credit that maintains suitable standards. (vocabolary.com) * Accreditation is to give official recognition, to clarify or guarantee as meeting required standards with certain tasks. This is also 1) to say something is good to be given official approval, 2) credit to provide with credential, 3) to recognise or vouch as confirming with a standard, and 4) to recognise a maintaining standard that quality the person for professional practice. * This is an evaluation by educational peers to verify that the school or an individual is accomplishing its stated mission and purposes. (GACS) and is a process of validation which colleges, universities and institutions of higher learning are evaluated. * The concept of accreditation in health, this is process of review that health care organizations participate in to demonstrate that the ability to meet predetermined criteria and standard of accreditation by a professional accrediting agency. ACCREDITATION IN YOUTH The use and process of accreditation in youth is to recognise of young people s learning and development via verified certification, following successful completion of recognise awards and qualifications. This is a formal recognition of the achievements of an individual, linked up to some

What Is Web Security - 930 Words

What is Web Security? (10 sentences) Websites, which connect the information across the globe through a complex network are unfortunately susceptible to security risks. Hence, the webservers connected to its network are unsafe too. Webservers can be considered as service windows which open your network to the entire world. So, the entire scenario depends on design of that window. Engineering it to filter the amount and type of information you need to pass through it is the main point on which web security depends. Email service is the best example for such a window. As email and web technologies congregate, a great rise in number of security threats in terms of creativity and effectiveness is observed. Hence, to eradicate this nightmare,†¦show more content†¦Additionally, some malware creates a denial of service by design, increasing the possibility of an attack on the organization’s infrastructure. While most organizations understand denial of service very well since it impacts productivity but many ign ore the impact on confidentiality and integrity. Attackers access the organization’s data they can use this to sell to third parties and make a profit. What are the security risk of a static website? (10 sentences) A static webpage is delivered to the user exactly as stored and displays the same set of information for all users, from all context and subjected to modern capabilities of a web server. Hence, it can be sometimes inevitable to make such webpages risk free. As they are quick cheap to develop, there are many loopholes in it. Moreover, to update them, expert advice is needed. Here are some of the risks take place in static website: Phishing: The term refers to attacks where the victim is led to believe that he or she is on a legitimate website, when in fact it is just a copy of the real one. Web browser exploits: Cybercriminals have also set up websites that exploit security holes in the web browser as this technique allows them to gain access without the victim’s knowledge. Third party add-ons: The majority of

Road Rage Free Essays

A coin is tossed four times. The probability is ? or 0. 25 that all four tosses will result in a head face up. We will write a custom essay sample on Road Rage or any similar topic only for you Order Now Answer Correct Answer: False A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes, 15% needed major dental work and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes or major dental work? Correct Answer: 0. 20 A group of employees of Unique Services will be surveyed about a new pension plan. In-depth interviews with each employee selected in the sample will be conducted. The employees are classified as follows. What is the probability that the first person selected is classified as a maintenance employee? Correct Answer: 0. 025 A probability is a number from -1 to +1. Correct Answer: False When are two events mutually exclusive? Correct Answer: If one event occurs, then the other cannot There are 10 rolls of film in a box and 3 are defective. Two rolls are selected without replacement. What is the probability of selecting a defective roll followed by another defective roll? Correct Answer: 1/15 or about 0. 07 Three defective electric toothbrushes were accidentally shipped to a drugstore by the manufacturer along with 17 non-defective ones. What is the probability that the first two electric toothbrushes sold will be returned to the drugstore because they are defective? Correct Answer: 3/190 or 0. 01579 The first card selected from a standard 52-card deck was a king. If it is NOT returned to the deck, what is the probability that a king will be drawn on the second selection? Correct Answer: 3/51 or 0. 0588 The first card selected from a standard 52-card deck was a king. If it is returned to the deck, what is the probability that a king will be drawn on the second selection? Correct Answer: 1/13 or 0. 077 If there are ‘m’ ways of doing one thing and ‘n’ ways of doing another thing, the multiplication formula states that there are (m) †¢ (n) ways of doing both. Correct Answer: True A study by the National Park Service revealed that 50% of the vacationers going to the Rocky Mountain region visit Yellowstone Park, 40% visit the Grand Tetons and 35% visit both. What is the probability that a vacationer will visit at least one of these magnificent attractions? Correct Answer: 0 The closer a probability is to 0, the more likely the event will happen. Correct Answer: False The classical approach to probability requires that the outcomes of an experiment are not equally likely. Correct Answer: False The numbers 0 through 9 are used in code groups of four to identify an item of clothing. Code 1083 might identify a blue blouse, size medium. The code group 2031 might identify a pair of pants, size 18, and so on. Repetitions of numbers are not permitted, i. e. , the same number cannot be used more than once in a total sequence. As examples, 2256, 2562 or 5559 would not be permitted. How many different code groups can be designed? Correct Answer: 5,040 A discrete random variable can have only certain clearly separated values. Correct Answer: True A listing of all possible outcomes of an experiment and their corresponding probability of occurrence is called a _____________. Correct Answer: Probability distribution A statistics professor receives an average of five e-mail messages per day from students. Assume the number of messages approximates a Poisson distribution. What is the probability that on a randomly selected day she will have five messages? Correct Answer: 0. 175 David’s gasoline station offers 4 cents off per gallon if the customer pays in cash and does not use a credit card. Past evidence indicates that 40% of all customers pay in cash. During a one-hour period twenty-five customers buy gasoline at this station. What is the probability that more than ten and less than fifteen customers pay in cash? Correct Answer: 0. 380 David’s gasoline station offers 4 cents off per gallon if the customer pays in cash and does not use a credit card. Past evidence indicates that 40% of all customers pay in cash. During a one-hour period twenty-five customers buy gasoline at this station. What is the probability that at least ten pay in cash? Correct Answer: 0. 575 Which of the following is NOT a characteristic of a binomial probability distribution? Correct Answer: Each outcome results from two trials The weight of an offensive linesman may be 205. 15 pounds, 210. 23 pounds, 225. 05 pounds or 219. 14 pounds. What is this an illustration of? Correct Answer: Continuous random variable The variance of a binomial distribution is found by ? ? (1 – ? ). Correct Answer: True The mean of a binomial distribution is the product of n and ?. Correct Answer: True A true-false test consists of six questions. If you guess the answer to each question, what is the probability of getting all six questions correct? Correct Answer: 0. 016 How to cite Road Rage, Papers

Monetary Policy Reflects Process

Question: Discuss about the Monetary Policy Reflects Process. Answer: Introduction: Monetary policy reflects the process through which monetary authority of a specific economy handle supply of money. For that reason, it often target an interest rate and inflation rate to maintain stability at the price level so that people trust in the currency remains at the desired level. Many studies have highlighted monetary policy generally contribute to economic satiability and growth (Schularick and Taylor 2012). It helps economy to lower the unemployment rate and also help to maintain specific standard of exchange rate with other currencies. In this essay, the focus will be on the process by which monetary policy has been utilized in the Australian market. Historically, monetary policy has been considered as a powerful tool that has the capacity of heightening the floating exchange rate. For that reason, Australias monetary policy involves the effective management of the short-term interest rate for the fulfillment of the domestic objective. Thus, monetary policy along with fiscal policy simply represent myriad of tools utilized to minimize long period of inflation, low wages and high unemployment in the economy. For that reason, Reserve Bank of Australia (RBA) has focused on developing specific monetary policies that can have major positive impact on the economic development perspective of the country. The policies initiated by RBA include interest rate setting on any particular overnight loans in the money market (rba.gov.au 2017). It creates impact on other interest rate that eventually affects the behavioral pattern of the lenders and borrowers in the financial market. The essay will try to highlight the kind of impact monetary policy has created in the Australian market over the past 2 to 3 years. The essay will also try to highlight the role of Australian government in the effective utilization of the monetary policy. It will also try to analyze whether monetary policy has able to fulfill all the prime objectives effectively or not. Objectives of monetary policy: As highlighted by Rey (2015) economies try to utilize monetary policy for fulfilling some specific objectives. Otherwise, the entire currency network in the economy might get affected in a major way. In Australia, Reserve Bank Act 1959 help to establish objectives of the monetary policy in a major way. The prime objective of initiating monetary policy is to maintain the currency stability in the Australian economy. It will ensure that all the economic activities can be fulfilled in an appropriate manner. Secondly, monetary policy in Australia also focuses on the effective utilization of the labor market. In fact, it focuses on maintaining zero unemployment policies so that people do not have to struggle to lead their life happily. Moreover, the monetary policy also focuses on enhancing the rate of overall economic welfare and prosperity within the Australian economy. Due to the influence of these objectives, monetary policy has achieved continues consumer price inflation of around 2 to 3 percent per annum (econotimes.com 2017). It has been assessed that monetary authority in Australia has deliberately tried to achieve this inflation rate to ensure Australian market can able to achieve sustainable growth. Thus, it articulated the fact that monetary policy in Australian economy is very much concerned about controlling the rate of inflation to maintain the value of money at the desired level. Hence, Australian monetary policy is very much focused towards the long-term growth of the economy. The monetary policy framework: As highlighted by Calza, Monacelli and Stracca (2013) monetary policy need to focus on controlling the rate of inflation in such a way so that value of currency could not able to deteriorate in a major way. Now, government of Australia, Treasurer and RBA has accepted the target of achieving inflation rate of around 2 to 3 percent per year. However, in order to achieve this low rate of inflation require effective decision-making system, which will anchor expected private inflation in an appropriate way. The above figure highlighted the fact that inflation rate in Australia has came down over the past few years. It also emphasizes on the inevitable uncertainties that are associated with the forecasting technique in the money market. For that reason, Baxa, Horvth and Va?ek (2013) have mentioned that inflation is extremely complex factor to fine tune with a short band. It also articulated the fact that monetary policy is actually dampening the fluctuations in amount of output produced within the course of the business cycle. It has influenced Australian government to focus on taking serious decisions based on the monetary perspective. Implementation strategy of monetary policy in the Australian market: As opined by Neely (2015) monetary policy in the developed countries like Australia focuses on the effective utilization of short term interest rate so that it can be controlled closely by RBA. The relevant rate of interest for Australia is termed as cash rate that reflects the market interest on the different types of overnight funds. For that reason, RBA tries to utilize close control over the cash rate through the money market operations and its applicability as the policy instrument. In fact, RBA has tried to justify its approach through the utilization of public statements. However, Corden (2012) have argued that focusing on short-term instrument might not provide required amount of support for the initiated policies. It has been assessed that cash rate has massive impact on the interest rate. As a result, it helps to set the short-term interest rate in the wider economy in an appropriate way. It can be applicable for financial intermediaries, key rate of banks and money market rates. For instance, business loans and mortgage rate tend move proportionality with any movement in the cash rate. As a result, it allows monetary policy for Australian market huge amount of power to create impact on the aggregate economy. In the pre-deregulation time, monetary policy utilized through a mixture of direct controls over the financial institutions and financial market operations. This includes the controls over the reserve equipments, bank interest rates and different types of other balance sheet restrictions. However, policy management style has gradually become ineffective in the Australian market, as several private and government functions have able to develop ways for avoiding regulations. As a result, it has created direct impact on the unregulated parts of the financial market. As per the article by Hofmann and Bogdanova (2012) monetary policy is easier and transparent to describe, as it is directly associated with the short-term interest rate. Domestic market department of the banks has the responsibility of maintaining condition of the money market so that it can ensure the cash rate remains near to the operating market. Now, cash rate reflects the rate charged for the overnight loans among the f inancial intermediaries. For that reason, monetary policy initiated in the Australian market has powerful influence on the other interest rate. The above figure shows the close relationship between other money market interest rates and cash rates. Now, RBA has focused on domestic market operations namely open market operations to maintain the cash rate near to the decided target. For that reason, RBA has focused on handling the supply of the available funds to the financial institutions in the money market. Lowe (2012) has highlighted the fact that demand and supply of overnight funds determine the cash rate in the money market. For that reason, it is crucial for all the financial institutions to maintain control over the supply of funds, which also help to settle transactions among themselves. In fact, it has been termed as exchange settlement funds. Now, it is necessary for RBA to utilize exchange settlement funds in such a way so that it can able to provide maximum impact over the monetary policies. For instance, if RBA provide more exchange settlement funds than commercial financial institutions wish to hold, it will def initely try to shed funds through the lending more in the money market. It has induced cash rate in the Australian market to fall significantly. On the other hand, if RBA provide lesser amount than financial institutions wish to hold, it will have to focus on borrowing more from the cash market. As a result, it will increase the present cash rate of the Australian economy. Impact of monetary policy in Australian economy: As highlighted by Benes et al. (2015) it is necessary for every economy to focus on continues evaluation process regarding the kind of impact monetary policy can have on the overall prosperity. However, it has to be kept in mind that monetary policy is very away from being completely mechanical in their operation. In fact, monetary policy makers will have to deal with the market related uncertainties at the time of developing economic forecasts. For that reason, monetary policy makers try to utilize best available information to ensure that the developed strategy can actually able to create desired impact on the Australian economy. As highlighted by Bordo and Landon-Lane (2013) short-term interest rate can have major impact on the aggregate demand and associated activities. From the above figure, it can be assessed that substantial changes in the rate of interest help to contain inflationary boom. It has created adverse impact on the overall demand in the Australian economy. With respond to the inflationary pressure and cyclical development, monetary policy has created major impact on the economic activity and powerful demand. For instance, higher rate of interest enhances the cost associated with the borrowing for financial expenditure. For that reason, monetary policy focuses increasing the incentive rate to delay or save the spending. Moreover, it also focuses on net reduction for returns to investments. For instance, in case of purchasing a house by a particular household can be delayed or stopped through the increasing mortgage rate. As people have to spend more for purchasing house, they will not try to buy house at that point of time, which will increase the cash on hand for the Australian people. It highlights the fact that, majority of the hous eholds has relatively smaller budget for purchasing house. Therefore, increase in the interest payment will reduce the capacity of the people. This can be explained through the following figure: The above figure highlighted the fact that higher mortgage rate is associated with the reduced amount of investment in the Australian market. The figure also has highlighted the fact that, mortgage rate at the time of early 90s is extremely high in Australia. For that reason, it has seen very limited process in the housing and construction sector at that point of time. However, with time Australian monetary policy makers has focused on the significance of housing activity on the overall financial performances. For that reason, they have consciously tried to reduce the mortgage rate consistently. During the period of 2013 to 2016, mortgage rate in Australia is extremely low, which has helped the entire construction sector to grow in an immense manner. As a result, huge number of recruitment has been done in the Australian construction sector for the past five years that is likely to grow in future as well. On the other hand Kashyap and Stein (2012) have highlighted the process through which monetary policy affects the cash flow channel of the economy. It has been assessed that majority of the households has focused on taking advantage of financial arrangements to borrow from the economy in an effective manner. For that reason, household sector of Australia considered as net borrowers. As a result, they are net payers of interest as well. In Australia, households with debt will feel that their interest payment is much higher in comparison with their own income that can be indicated by the net payments of data. Prime reason for this is net amount hides much larger amount for payments and interest receipts of several population groups. In fact, it has induced younger generation of Australia to borrow large amount at the early stage to finance several aspects, which will gradually become net asset in their later life. It highlights the fact that changes in the interest amount can have majo r impact on the cash flows on different population groups. Conversely, impact of change in interest rate is completely different for debtors and creditors. An increase in the interest rate minimizes the cash flow for debtors while it increases for creditors. Moreover, debtors are regarded as more sensitive with any changes in the cash flow, as they have limited financial assets to maintain their spending pattern (Somasundaram 2017). Thus, increase in the interest rate reduces the spending pattern of the household. Now, monetary policy in Australian market tends to maintain interest rate consistent, so that peoples spending pattern remains unaffected as much as possible. Bjrnland and Halvorsen (2014) have highlighted the fact that monetary policy can also have major impact on the money and credit perspective of the economy. It has been assessed that tightening the strength of monetary policy create more complex situation for borrowers to take loans. As a result, it has direct impact on the spending pattern of the borrowers. Now, Australian financial system is heavily regulated, which has increased the significance of quantity mechanism in the operation of monetary policy. Therefore, monetary policy affected the Australian economy through the execution of loans. A strict monetary policy will reduce lending pattern of the banks. From the above figure, it can be assessed that credit growth is positively correlated with the GDP growth of the economy. The figure has also highlighted the fact that nominal GDP in Australian market has seen a steady growth during the period from 1990 to 2006. However, nominal GDP has dropped significantly in the Australian market that has also affected the credit growth rate of the economy. During the period of deregulation, financial institutions have increased their lending to such an extent that contributed to the economic boom in the Australian market. It has also increases the price level of the existing asset. However, the impact has taken a reverse turn when economic cycle broke down. Thus, it establishes the fact that money and credit does play a critical role in the effectiveness of the implemented monetary policy. Moreover, it also has highlighted the fact that money supply has remained consistent over the past few years, as money supply remain at the optimum level. Howe ver, many studies have mentioned that money supply cannot be controlled entirely. Therefore, it needs to change on the basis of selected objective. Now, as mentioned earlier, Australian economy is focusing on maintaining the inflation rate very low. Therefore, it has become necessary for the monetary policy makers to contain the amount of money supplied in the market. As per the article by Gal and Gambetti (2015), monetary policy can also have major impact on the exchange rate of the economy. Now, exchange rate fluctuations can affect the entire economy by changing the relative prices of foreign and domestically produced goods and services. Therefore, fluctuation in the exchange rate creates direct impact on the domestic spending proportions. Now, exchange rate in Australian economy has been fluctuating for the past few years, which also has major impact on the behavioral pattern of the economy. For instance, it has affected the overall economic activity of the country, as it focusing on importing products that are more expensive. On the other hand, it is looking export relatively cheaper products, which will increase depreciation associated with the exchange rate. As a result, it has created an expansionary impact on the Australian economy at an aggregate level. As highlighted by Coats and Khatkhate (2014) exchange rate is another significant cha nnel by which monetary policys impact transmitted to the entire economy. It has been assessed that an increase in domestic interest rate, which has increased the importance of equity flow in the Australian market. Koukoulas (2017) have mentioned the fact that monetary policy indirectly affects the inflation rate of the economy. It has been assessed that demand above the productive capacity of an economy creates inflation in the market. It allows employees or labor to charge higher prices that has direct impact on the cost required for fulfilling all the activities of the operational process. As a result, it has influenced policy makers to focus on the effective utilization of monetary policy so that inflation rate remains under control. For that reason, inflationary pressures have been developed by a surge in growth as the speed of recovery from recession increases at the time of 2007 to 2008. However, it has not increased the inflation in the Australian market for that particular timeframe. Thus, it highlights the fact that Australian monetary policy has been conducted in a forward-looking fashion. The policy makers have raised the interest rate in the middle of 90s to mitigate the affect of inflationary pressures. On the other hand, they have minimized the interest rate when the pressures related to inflation have eased. Conclusion: The above discussion has highlighted the fact that monetary policy can have major impact on the overall economical condition of a particular economy. It can actually help economies to maintain the inflation rate at the desired level. In fact, if other factors remain constant, monetary policy can actually help to dictate inflation pattern of the economy. For instance, the study has highlighted the fact that Australian authority has consciously focused on controlling the amount of money supplied to economy so that it cannot able to create unexpected inflationary impact on the market. Moreover, the essay has also highlighted the fact that effective utilization of monetary policy can also have major impact on the aggregate demand of the economy. It also can influence the import export behavior of a particular economy, which can have major impact on the exchange rate as well. References: Anzuini, A., Lombardi, M.J. and Pagano, P., 2012. The impact of monetary policy shocks on commodity prices. Bauer, M.D. and Neely, C.J., 2014. International channels of the Fed's unconventional monetary policy.Journal of International Money and Finance,44, pp.24-46. Baxa, J., Horvth, R. and Va?ek, B., 2013. Time-varying monetary-policy rules and financial stress: Does financial instability matter for monetary policy?.Journal of Financial Stability,9(1), pp.117-138. Bech, M.L., Gambacorta, L. and Kharroubi, E., 2014. Monetary policy in a downturn: are financial crises special?.International Finance,17(1), pp.99-119. Benes, J., Berg, A., Portillo, R.A. and Vavra, D., 2015. Modeling sterilized interventions and balance sheet effects of monetary policy in a New-Keynesian framework.Open Economies Review,26(1), pp.81-108. Bjrnland, H.C. and Halvorsen, J.I., 2014. How does monetary policy respond to exchange rate movements? New international evidence.Oxford Bulletin of Economics and Statistics,76(2), pp.208-232. Bordo, M.D. and Landon-Lane, J., 2013.Does expansionary monetary policy cause asset price booms; some historical and empirical evidence(No. w19585). National Bureau of Economic Research. Calza, A., Monacelli, T. and Stracca, L., 2013. Housing finance and monetary policy.Journal of the European Economic Association,11(s1), pp.101-122. Coats, W.L. and Khatkhate, D.R. eds., 2014.Money and monetary policy in less developed countries: a survey of issues and evidence. Elsevier. Corden, W.M., 2012. Dutch disease in Australia: policy options for a three?speed economy.Australian Economic Review,45(3), pp.290-304. econotimes.com, 2017. Reserve Bank of Australia likely to keep monetary policy stance intact in 2017 - EconoTimes. [online] EconoTimes. Available at: https://www.econotimes.com/Reserve-Bank-of-Australia-likely-to-keep-monetary-policy-stance-intact-in-2017-496123 [Accessed 23 Jan. 2017]. Eickmeier, S. and Hofmann, B., 2013. Monetary policy, housing booms, and financial (im) balances.Macroeconomic dynamics,17(04), pp.830-860. Gal, J. and Gambetti, L., 2015. The effects of monetary policy on stock market bubbles: Some evidence.American Economic Journal: Macroeconomics,7(1), pp.233-257. Hofmann, B. and Bogdanova, B., 2012. Taylor Rules and Monetary Policy: A Global'Great Deviation'?. Kashyap, A.K. and Stein, J.C., 2012. The Optimal Conduct of Monetary Policy with Interest on Reserv.American Economic Journal: Macroeconomics,4(1), pp.266-282. Koukoulas, S., 2017. Australia's economic malaise comes down to dreadful decisions | Stephen Koukoulas. [online] the Guardian. Available at: https://www.theguardian.com/commentisfree/2017/jan/23/australia-economy-reserve-bank-interest-rates-inflation-unemployment [Accessed 23 Jan. 2017]. Lowe, P., 2012. The changing structure of the Australian economy and monetary policy.The Recent Economic Performance of the States 1 Trends in National Saving and Investment 9 The Distribution of Household Wealth in Australia: Evidence from the 2010 HILDA Survey 19 Indias Steel Industry 29, p.79. Neely, C.J., 2015. Unconventional monetary policy had large international effects.Journal of Banking Finance,52, pp.101-111. rba.gov.au, 2017. [online] Available at: https://www.rba.gov.au/monetary-policy/about.html [Accessed 23 Jan. 2017]. Rey, H., 2015.Dilemma not trilemma: the global financial cycle and monetary policy independence(No. w21162). National Bureau of Economic Research. Schularick, M. and Taylor, A.M., 2012. Credit booms gone bust: monetary policy, leverage cycles, and financial crises, 18702008.The American Economic Review,102(2), pp.1029-1061. Somasundaram, N., 2017. MORGAN STANLEY: Australian bank shares may not mirror the global rally and look set to fall. [online] Business Insider Australia. Available at: https://www.businessinsider.com.au/morgan-stanley-australian-bank-shares-may-not-mirror-the-global-rally-and-look-set-to-fall-2017-1 [Accessed 23 Jan. 2017]. Taylor, J.B., 2013. International monetary policy coordination: past, present and future. White, W.R., 2012. Ultra easy monetary policy and the law of unintended consequences.real-world economics review, pp.19-56.