Saturday, January 11, 2020
ASSIGNMENTS Course Code:MS 08 Course Title:Quantitative Analysis for Managerial Applications Assignment No. :MS-08/TMA/SEM-I/2013 Coverage:All Blocks Note : Attempt all the questions and submit this assignment on or before 30th April, 2013 to the coordinator of your study center. 1. A sum of `8550 is to be paid in 15 installments where each installment is `10 more than the previous installment. Find the first installment and the last installment. Let x = the first payment. The sequence of 15 payments is (1) x, x+10, x+20, x+30, Ã¢â¬ ¦ , x+140 The sum of these 15 payments is 2) 15x + 10*(14*15/2) or (3) 15x + 1050 Now set (3) equal to the total sum to be made and get (4) 15x + 1050 = 8550 or (5) 15x = 7500 or (6) x = 500 The last payment in (1) is x + 140 or (7) 15th = 640 Answer: The first payment is $500 and the last payment is $640. I'll leave it to you to add up the sequence of (1) to Ã¢â¬Å"proveÃ¢â¬ that our answer is right. LOL 2. A salesman is known to sell a product in 3 out of 5 attempts. While another salesman in 2 out of 5 attempts. Find the probability that a. No sales will happen b. Either of them will succeed in selling the productLet A be the event that the first salesman will sell the product and B be the event that the second salesman will sell the product. Given (1) Probability that no sales will happen = P(A') ? P(B') (2) Probability that either of the salesman will succeed in selling the product = P(A') ? P(B) + P(A) ? P(B') 3. A hundred squash balls are tested by dropping from a height of 100 inches and measuring the height of the bounce. A ball is Ã¢â¬Å"fastÃ¢â¬ if it rises above 32 inches. The average height of bounce was 30 inches and the standard deviation was ? inches. What is the chance of getting a Ã¢â¬Å"fastÃ¢â¬ standard ball? T otal no. of observations N = 100 Mean,? 30inches Standard deviation, ? =3/4 inches=0. 75 inches Suppose Ã¢â¬Ëx' is the normal variable=32 inches 4. Explain the chi-square testing- (i) as a test for independence of attributes, and (ii) as a test for goodness of fit. About the Chi-Square Test Generally speaking, the chi-square test is a statistical test used to examine differences with categorical variables. There are a number of features of the social world we characterize through categorical variables Ã¢â¬â religion, political preference, etc. To examine hypotheses using such variables, use the chi-square test. The chi-square test is used in two similar but distinct circumstances: a. or estimating how closely an observed distribution matches an expected distribution Ã¢â¬â we'll refer to this as the goodness-of-fit test b. for estimating whether two random variables are independent. The Goodness-of-Fit Test One of the more interesting goodness-of-fit applications of the chi-square test is to examine issues of fairness and cheating in games of chance, such as cards, dice, and roulette. Since such games usually involve wagering, there is significant incentive for peopl e to try to rig the games and allegations of missing cards, Ã¢â¬Å"loadedÃ¢â¬ dice, and Ã¢â¬Å"stickyÃ¢â¬ roulette wheels are all too common.So how can the goodness-of-fit test be used to examine cheating in gambling? It is easier to describe the process through an example. Take the example of dice. Most dice used in wagering have six sides, with each side having a value of one, two, three, four, five, or six. If the die being used is fair, then the chance of any particular number coming up is the same: 1 in 6. However, if the die is loaded, then certain numbers will have a greater likelihood of appearing, while others will have a lower likelihood. One night at the Tunisian Nights Casino, renowned gambler Jeremy Turner (a. k. a.The Missouri Master) is having a fantastic night at the craps table. In two hours of playing, he's racked up $30,000 in winnings and is showing no sign of stopping. Crowds are gathering around him to watch his streak Ã¢â¬â and The Missouri Master is telling anyone within earshot that his good luck is due to the fact that he's using the casino's lucky pair of Ã¢â¬Å"bruiser dice,Ã¢â¬ so named because one is black and the other blue. Unbeknownst to Turner, however, a casino statistician has been quietly watching his rolls and marking down the values of each roll, noting the values of the black and blue dice separately.After 60 rolls, the statistician has become convinced that the blue die is loaded. Value on Blue DieObserved FrequencyExpected Frequency 11610 2510 3910 4710 5610 61710 Total6060 At first glance, this table would appear to be strong evidence that the blue die was, indeed, loaded. There are more 1's and 6's than expected, and fewer than the other numbers. However, it's possible that such differences occurred by chance. The chi-square statistic can be used to estimate the likelihood that the values observed on the blue die occurred by chance. The key idea of the chi-square test is a comparison of observed and expec ted values.How many of something were expected and how many were observed in some process? In this case, we would expect 10 of each number to have appeared and we observed those values in the left column. With these sets of figures, we calculate the chi-square statistic as follows: Using this formula with the values in the table above gives us a value of 13. 6. Lastly, to determine the significance level we need to know the Ã¢â¬Å"degrees of freedom. Ã¢â¬ In the case of the chi-square goodness-of-fit test, the number of degrees of freedom is equal to the number of terms used in calculating chi-square minus one.There were six terms in the chi-square for this problem Ã¢â¬â therefore, the number of degrees of freedom is five. We then compare the value calculated in the formula above to a standard set of tables. The value returned from the table is 1. 8%. We interpret this as meaning that if the die was fair (or not loaded), then the chance of getting a ? 2 statistic as large or l arger than the one calculated above is only 1. 8%. In other words, there's only a very slim chance that these rolls came from a fair die. The Missouri Master is in serious trouble. Testing IndependenceThe other primary use of the chi-square test is to examine whether two variables are independent or not. What does it mean to be independent, in this sense? It means that the two factors are not related. Typically in social science research, we're interested in finding factors that are related Ã¢â¬â education and income, occupation and prestige, age and voting behavior. In this case, the chi-square can be used to assess whether two variables are independent or not. More generally, we say that variable Y is Ã¢â¬Å"not correlated withÃ¢â¬ or Ã¢â¬Å"independent ofÃ¢â¬ the variable X if more of one is not associated with more of another.If two categorical variables are correlated their values tend to move together, either in the same direction or in the opposite. Example Return to the example discussed at the introduction to chi-square, in which we want to know whether boys or girls get into trouble more often in school. Below is the table documenting the percentage of boys and girls who got into trouble in school: Got in TroubleNo TroubleTotal Boys4671117 Girls3783120 Total83154237 To examine statistically whether boys got in trouble in school more often, we need to frame the question in terms of hypotheses.
Friday, January 3, 2020
Why do you want an internship with the Office of Sustainability?* Interning for the Office of Energy and Sustainability (OES) would be an unforgettable and advantageous opportunity for me. Studying sustainable biomaterials and becoming an intern with OES will allow me to reach my future career aspirations. These goals include finding safe and responsible methods for developing our domestic energy resources, cleaner ways of mitigating of greenhouse gasses and toxic air pollutants, and promoting sustainability and environmental stewardship through policy and law. The Office of Energy and Sustainability would give me the exposure I require to excel in this field. Often times we are told that in order to be successful in a professional career path, we need the adequate experience. I firmly believe the OES could give me this much-needed experience. The Office of Energy and Sustainability offers several programs and events that motivate me to become an intern. I have participated in events, such as Sustainability Week, hosted by the OES. Events such as these have allowed me to reflect on what it means to be sustainable. These reflections gave me the drive to apply for this internship because I want to teach others about the importance of sustainability and green living. The work the OES does in terms of outreach has also inclined me to become part of a group that strives to make positive change on the Virginia Tech Campus. Why would you like toShow MoreRelated65 Successful Harvard Business School Application Essays 2nd Edition 147256 Words Ã |Ã 190 PagesBoston area. The Foundation to date has awarded over $850,000 in grants to forty organizations that pursue initiatives in education and literacy. The views and opinions expressed in this book do not necessarily reflect those of Harvard Business School, and the references to the school throughout the book do not mean that the school endorses these views or opinions. ix Acknowledgments A huge credit is owed to five contributors from the Class of 2008 and Class of 2009 who helped source the content
Thursday, December 26, 2019
The processes required for the productions and service is mainly divided into three phases. The preparation of mixtures, baking or freezing and retailing or serving consists of the entire operation process. The raw material ordering, storing and issuing will need to be handled separately. Quality Control aspect has to remain one of the key concerns of the operation process. The production and service will operate as two separate processes where production side will be headed by the founder while the retail and service section will be handled by Susan Schucroft, the managing partner of the proposed venture. SW D will partner up with local dairy and fruit farmers to get fresh ingredients needed for the entire product range. Special ingredients such as emulsifiers and provers will be imported directly from Europe. Neil Schucroft and Susan Schucroft will act as managing partners with responsibilities of production operations and the service operations divided between them. Neil has expe rience in desserts and ice creams along with a Diploma in Culinary Arts, specializing in European cuisine from Schiller University Switzerland. This is one of the most prestigious of hospitality schools in Europe which combines up to 60% study time with apprenticeships in top European restaurants and hotels for the students. We will write a custom essay sample on A Comprehensive Market Analysis or any topic specifically for you Only $17.96 $11.86/page As the operation grows in capacity, this staff strength will be increased to meet the manpower needs. Susan Schucroft is a well experienced retail floor manager at Wal-Mart currently but has previous experience in the food service industry, having worked at a number of Hagen Dass outlets in the capacity of a crew member and getting promoted to regional stores manager, during their stay in Europe.
Wednesday, December 18, 2019
When it comes down to being an engineer, many people think it is all about designing and inventing new technologies. In reality, an engineer must be able to do many things in order to be a good one. Some of these things are drawing and designing, being imaginative and creative, being logical, and exploring every possible outcome. But one of the most important things an engineer must be able to do is combine all of these skills whilst also keeping the cost to produce their invention as low as possible. This can prove to be very challenging as many factors must be taken into account. There are often also many conflicts between an engineerÃ¢â¬â¢s new inventions and total cost minimization. Some inventions may not even be possible to make solely because it would be so costly to create, and no profits would be made on the resulting technology. As engineers continue to make more technological innovations every day, total cost minimization is actually becoming increasingly more important as well. This is one of the most important things up and coming engineers must understand, as they must understand this concept inside and out for their future designs and possible innovations Total cost minimization is one of the quintessential factors of being a good engineer. Total cost minimization is the ability to mass produce a technology at the lowest possible cost. Minimizing the cost is done by creating the technology with cheaper materials, or making it as simply as possible with fewerShow MoreRelatedDesigning And Problem Of An Engineer Essay1531 Words Ã |Ã 7 Pagesfor one to classify oneself as an Engineer. An engineer must be able to express their own ideas not only verbally, but also visually through the creation and design of said idea. Essentially, an engineer must possess the capabilities to use their designing ability to solve real world problems which affect other people every day. Solving significant problems which affect society is just one of the many responsibilities which pertain to being an engineer. For example, a community may have a problem beingRead MoreDesigning A Product Is Incredibly Troublesome872 Words Ã |Ã 4 PagesDesigning a produ ct is incredibly troublesome. There are many variables to account for and while many can be controlled, some events are completely out of our hands. Despite those troubles, I find thrill in creating something that solves a problem as efficiently and completely as possible. My interest in creating, however, wasnÃ¢â¬â¢t very apparent until the team projects that I participated in. When my interest in inventing was matched with team experience, I developed future goals that aligned withRead MoreThe Invention Of Thomas Edison Essay1662 Words Ã |Ã 7 Pagescamera is used throughout the world today for filming movies and television shows and a variety of other things. EdisonÃ¢â¬â¢s dedication to inventing solutions to relevant problems made him a great innovator then and now. Thomas EdisonÃ¢â¬â¢s inventions have lived beyond his time and will continue to live beyond ours because of the time and effort Edison put into designing these inventions. Thomas Edison had an extraordinary childhood although there were many ups and downs, according to www.biography.com EdisonRead MoreImpact Of Technology On Higher Education974 Words Ã |Ã 4 Pages Technology in Higher education Introduction Its been 20 yrs from now for developing world wide web development in Higher education. students who are pursuing their postsecondary or third level education level are known as higher level students. and. In this paper i am going to explain how technology is being utilised in the higher education and what are the factors effecting technology in higher education and also advantages of technology in higher education. I would now like toRead MoreThe Greatest Inventors Of All Time1458 Words Ã |Ã 6 Pagesaddition, he constantly tinkered with machines and did small experiments in order to understand how things worked. This passion for learning would serve him well throughout his life, as he never stopped studying advancements in technology which aided his career in inventing. Thomas EdisonÃ¢â¬â¢s first job was selling fruit, snacks, and newspapers on trains when he was twelve years old, but he established himself as an entrepreneur even at that time. In addition to selling the required items on the trainRead MoreGraphic Designing A Graphic Designer Essay2487 Words Ã |Ã 10 Pagescopying. As it can be seen, graphic designing is a good field for professionals, it can be included in college level education because it helps students to get a better knowledge about the developing market of graphic designing. There are different software that are used for graphic designing software used for designing purpose, popular ones include Adobe Graphics Designing Suite, Coral Draw Designing Suite, and Zara Designer Pro. These software have their own designing tools and user interface and canRead MoreComputer Engineering : A Computer1340 Words Ã |Ã 6 Pagespounds, and featured rotating drums for memory, glowing vacuum tubes, and a read/write system that recorded numbers by scorching marks on cards (Ã¢â¬Å"History of ComputingÃ¢â¬ ). The term computer soon took off, and engineers all over the world took to designing their own digital computer. The next big step that engineers had to figure out how to make computers talk. To get a computer to communicate with another computer was seen as an impossible task. George Stibitz took on the task, along with his teamRead MoreInternal And External Analysis On Human Resource Management876 Words Ã |Ã 4 Pagesanalysis of the company aligned with the current scenarios and attributes. Firm Infrastructure: Vision: Ã¢â¬Å"We dream of a world in which highest quality of healthcare is made available to all.Ã¢â¬ Mission: Ã¢â¬Å"To Excel in designing delivering of with user Ã¢â¬â and safety features using latest technology to earn trust and confidence of all stakeholders.Ã¢â¬ In aligned with the vision and mission of the company, the organizational structure is formed with the following management and composition of the board. HumanRead MoreDesign Driven Innovation Essay examples1335 Words Ã |Ã 6 Pagesbarriers or technological obstacles. Indeed, iPod established a new virtual market for the music industry, Swatch turned watches into daily dress-up accessories from lifelong adornment and Wii intercalated a novel controller, which provides a completely fresh experience for users and expands game players to senior citizens. Design driven innovation is not isolated from technology innovation, but includes interactions with technology. For example, Verganti(2009), analysing four cases (Wii of NintendoRead MoreSupply Chain Management For A Competitive Advantage1505 Words Ã |Ã 7 PagesTodayÃ¢â¬â¢s world great organizations are emerging in inventing powerful resources for a competitive advantage. It is called supply chain management and it includes all integrated activates which introduce to market place and maintain customer satisfaction. This supply chain management drives from multi- disciplinary departments such as procuring, transportation, manufacturing products, customer services, distribution of product into integrated program. Successful management will be in coordination and
Tuesday, December 10, 2019
Financial capital is one of the most important components of a business. The need for financial capital grows with a growth in the business. At a certain stage, it becomes imperative to raise a large amount of financial capital to expand and sustain the business, and at an affordable cost to the company. An IPO Ã¢â¬â an acronym for Initial Public Offer Ã¢â¬â is one of the most popular methods of raising money from the general public and investors. IPO DEFINITION An initial public offer, as the name indicates, is the first (initial) instance of a company (called the issuer) offering its commons stock (or shares) to the general public for subscription. It is a common misconception that only newly formed companies resort to raising money through an IPO. Even long established private companies can access the IPO route to raise capital, and become publicly traded companies as a result. An IPO is considered as a Ã¢â¬Å"rite of passageÃ¢â¬ into the big league of publicly traded stocks. Any company that needs to be listed on a stock exchange has to offer its shares to the public. In addition to IPO, an already listed and publicly traded company may issue an FPO Follow on Public Offer Ã¢â¬â to raise further capital for the company.Ã the two. METHOD OF PRICING OF IPO/FPO IN INDIA There are various ways to price the stocks but what is commonly used now is a process called book building. It is basically a capital issuance process used in an Initial Public Offer which aids price and demand discovery. It is also a process used for marketing a public offer of equity shares of a company. During the period for which the book for the IPO is open, bids are collected from investors at various prices, which are above or equal to the floor price. The offer/issue price is then determined by the issuing company after the bid closing date based on the various bids that have been collected. LITERATURE REVIEW S S S Kumar , a study on Ã¢â¬Å"Short and Long-run Performance of Bookbuilt IPOs in IndiaÃ¢â¬ ,Ã¢â¬Å"International Journal of Management Practices Contemporary ThoughtsÃ¢â¬ ,year 2007 Ã¢â¬Å"One of the important reforms Indian markets witnessed in the recent past is the introduction of issuing shares through the book building process which aims at efficient price discovery. The paper attempts to see how the IPOs issued through book building process fare both in short-run as well as in long run. Results indicate that the IPOs are under-priced as is evidenced by the positive listing day returns and are out performing the market in the subsequent months almost up to twenty four months. However, after two years of listing they generate negative returns. This finding is consistent with the /PO performance literature from the other countries but is in contrast with the first long run study on 1POs in the long run in India. Vijaya B Marisetty2 (Department of Accounting and Finance Monash University ) and Marti G Subrahmanyam (Stern School of Business ,New York University ),Ã¢â¬ Ã¢â¬Å"Group Affiliation and the Performance of Initial Public Offerings in the Indian Stock Market Ã¢â¬ , Journal of Financial Markets , October 2008 . Ã¢â¬Å"This paper document the effects of group affiliation on the initial performance of 2,713 Initial Public Offerings (IPOs) in India under three regulatory regimes during the period 1990-2004. This document distinguishes between two competing hypotheses regarding group affiliation: the Ã¢â¬Å"certificationÃ¢â¬ and the Ã¢â¬Å"tunnelingÃ¢â¬ hypotheses. they lend support to the latter by showing that the underpricing of business group companies is higher than that of stand-alone companies. Furthermore, they find that the long run performance of IPOs, in general, is negative. We also find that Indian investors over-react to IPOs and their over-reaction (proxied by the oversubscription rate) explains the extent of underpricingÃ¢â¬ . Arun Kumar Gopalaswamy, Kartikeya Chaturvedi, N. Sriram, (2008) Long run post issue performance of fixed price and book built IPOs: an empirical study on Indian markets, Journal of Advances in Management Research, Vol. 5 Iss: 2, pp. 64 Ã¢â¬â 76 Sehgal, Shikha Singh, Balwinder, Ã¢â¬Å"Determinants of initial and long-run performance of IPOs in Indian stock marketÃ¢â¬ . Asia-Pacific Business Review Journal, Oct-Dec, 2008, Source Volume: 4 Source Issue: 4 Ã¢â¬Å"The paper investigates the possible determinants ofÃ underpricing and the long-run performance of 438 Indian initial public offerings (IPOs) listed on the Bombay Stock Exchange during June 1992March 2001. The mean underpricing has been found to be 99. 20 per cent, which is very high if compared with the international evidence. Age of the firm, listing delay at IPO and number of times the issue is subscribed have been found to be the important determinants of underpricing. Indian IPOs do not tend to underperform in the long-run and underpricing has been primarily found to explain the long-run performance. The study, thus provides evidence of overreaction hypothesis. Ã¢â¬ Seshadev Sahoo and Prabina Rajib, Ã¢â¬Å"After Market Pricing Performance of Initial Public Offerings (IPOs)Ã¢â¬ : journal vikalpa , volume 35 , no 4 Ã¢â¬ ¢ october december 2010 Ã¢â¬Å"This paper is motivated by the apparent belief that IPOs are underpriced on the initial listing day and thereafter underperforms compared to the market benchmark. While evaluation of the listing day performance seems straightforward on surface, it actually invokes several complications for the subsequent performance measurement. This paper focuses on the evaluation of price performance of IPOs up to a period of 36 months including the listing day. It also examines the usefulness of IPO characteristics at the time of issue to seek an explanation for the post-issue price performance. Arwah Arjun Madan (Lecturer, St. MiraÃ¢â¬â¢s College for Girls, Pune Research Scholar, nia, pune)a study on Ã¢â¬Å"investments in ipos in the indian capital marketÃ¢â¬ ,journal Bimaquest Vol. III Issue 1, January 2003 Ã¢â¬Å"This paper aims (1) To look at the behaviour of IPOs in the primary capital market in the pre and post Liberalization Era: (a) extent of underpricing during the CCI SEBI times and (b) the influence on returns considering various factors such as Issue Size, Age, Foreign Equity, Issue Rating, and Issued Capital.(2) To assess the long-run performance of IPOs for a period of five years after listing Performance of IPO vis-a-vis Stock Index Industry Index RATIONALE OF STUDY It is a well documented fact that IPOs tend to be generally under-priced, though some issues tend to be overpriced. From the viewpoint of financial research, IPO under-pricing in the sense of abnormal short-term returns on IPOs has been found in nearly every country in the world. This suggests that IPO under-pricing may be the outcome of basic problems of information and uncertainty in the IPO process, and is unlikely to be a figment of institutional peculiarities of any one market. There have also been various studies made to suggest the reasons for such underpricing. From the investorsÃ¢â¬â¢ point of view, this under-pricing appear to provide the sure and quick profit that most dream about. Though first day return could vary, few of the issues tend to provide a very high return over the first day. RECENT VIEW OF SEBI(OVERPRICING OF IPO) (SOURCE- THE ECONOMIC TIMES, 1 MAY 2011) With an aim to rein in cases of over-pricing and over-hyping of IPOs by merchant bankers, market watchdog Sebi wants them to tell the investors about their past record in handling the public offers and also keep the prices at realistic levels. SEBI has expressed its displeasure in very clear terms to the merchant bankers over the cases where IPOs have been priced in such a manner that there is little left on table for the public investors in terms of potential returns, a senior official said. At the same time, the regulator is also not happy with the hard-selling of these overpriced IPOs to the retail investors in a manner that good returns are assured from investment in such share sales, even if the pricing is beyond rational levels, he added. As a remedial measure, SEBI wants the merchant bankers to prominently disclose to the investors their track records, which would comprise of the performance of shares vis-a-vis the price in the IPOs managed by them.
Monday, December 2, 2019
The World Wide Cage by Nicholas Carr Essay These days, the internet is the new asset device for the masses. It has changed the way we live in the public arena and the way individuals communicate with each other. As an ever-increasing number of individuals sign on the Internet, it has without a doubt changed the way individuals contemplate each other and our general surroundings. When we start to take a deeper insight at the ways it has changed society, we can unmistakably observe many ways of implementation into current life. There are many writers who describe the changes in their articles. One of these writers is Nicholas Carr. Nicholas Carr is an American writer whose publications and articles mainly focus on the developing technology economy and culture. One of his most famous publications is his book Ã¢â¬Å"Utopia is CreepyÃ¢â¬ where he talks about the influence and the effects of technology, the internet, on the modern society, through the description of Ã¢â¬Å"American techno-utopianismÃ¢â¬ . In the 2016 Aeons paper, The World Wide CageÃ¢â¬ , Nicholas Carr contends about how society has started to overuse and rely too much on technology to the degree that it made them be imprisoned, without them knowing. Initially, Carr notices that he had taken up blogging in 2005 and he had named his own blog Rough Type. Also, Carr analyzed that blogging had been consolidated with news coverage, which without a doubt lost its appeal. Also, Carr remarks that the religion of technology is more prominent than alternate religions. Besides, technologists are the person who will lead us into the new universe of mechanical development, for example, Web 2.0. Thirdly, Carr looks at that the advancement of innovation is not showing the normal outcomes, rather it has made individuals exceptionally reliant and has brought on diversions in their lives. Besides, the idea behind the improvement of innovation for liberation is only a lie and thats it. At long last, Carr states that political impedan ce has ma We will write a custom essay sample on The World Wide Cage by Nicholas Carr specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The World Wide Cage by Nicholas Carr specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The World Wide Cage by Nicholas Carr specifically for you FOR ONLY $16.38 $13.9/page Hire Writer
Wednesday, November 27, 2019
The Language of War.An analysis of how understanding and sup essays An analysis of how understanding and support of war is constructed through media texts specifically newspapers. In 1982 I was not old enough to fully understand what was happening when my country went to war with Argentina over a group of islands called The Falklands. However, I was old enough to understand the comments of my parents when they discussed the situation, as well as the headlines they had read in the papers. One such comment being something I have since heard repeated time and time again from various people; this being on the Sun newspapers headlines throughout the conflict. One of these headlines was GOTCHA, splashed over the front page when the first major incident happened the sinking of the Belgrano on May 2nd 1982 (Greenslade, 2002); an event that cost many Argentine lives. In this paper I am going to discuss the ways in which newspapers report on war and terrorism, using language such as the Suns example above, and the impact that they are able to achieve on their readers. I am going to argue that newspapers, along with other media, are a tool for constructing both support and understanding of any conflict, thus being a major propaganda machine, without this ever being fully noted by the mass audience. I will begin by making historic reference to propaganda in the First World War, as discussed by Noam Chomsky, going on to look at more recent conflicts that have seen the use of media propaganda specifically The Gulf War. I will draw together the information discussed by looking at the most recent examples of press propaganda on the war in Afghanistan, in the aftermath of the World Trade Centre attacks on 11th September 2001. The Dean of American Journalists, Walter Lippmann is quoted in Chomsky as saying, ...a... revolution in the art of democracy could be used to manufacture consent, i.e. gain public agreement on things...