Financial Performance Analysis of Amazon - Free Essay Example

Sample details Pages: 8 Words: 2521 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Executive Summary Amazon.com, Inc (Amazon) registered strong growth of 36% in 2008 mainly due to increased unit sales and expanded sales base in several categories. Meanwhile during the 3rd quarter of 2009, Amazon managed to report a steady growth despite the recession period. This report reviews and analyse Amazon financial performance as well as comparison with its competitors. All analysis and ratios are derived from data collected from respective companies annual reports and www.reuters.com. Brief Description of the Company Amazon is one of the leading online retailers in the world based in Seattle, Washington, United States of America. The company started its operation in 1995 and has regional involvement in the Asia Pacific, North America and Western Europe. Initially the core business of the company is selling online books however has diversified to products such as apparel, electronic and home improvement products. Don’t waste time! Our writers will create an original "Financial Performance Analysis of Amazon" essay for you Create order The company is involved in the internet retailing industry with 7.5% market share in 2008. The e-commerce industry has gone through major phases of growth and decline however, Amazon persevered and surprised everyone. Amazon achieved its first annual profit in 2003 and has continuously performed better each year. Amazons main competitors are the book retailer, Barnes and Nobles (BN) and third party retailing non-book related good, Ebay.com (Ebay). BN and Ebay are engaged in the similar industry as Amazon, which is online business and catalogue retailing of single and diversified product lines In terms of market capitalisation, Amazon has the highest at $59.57 billion and followed by Ebay and BN at $30.59 billion and $1.21 billion respectively. This indicates that Amazon has greater stability and low risk compared to the competitors. Financial Analysis Profitability The companys performance has improved wherein it has performed above the projections made throughout the four years period. Net sales have increased by 29.2% from $14,835 million in 2007 to $19,166 million in 2008 with net income of $476 million and $645 million respectively. The Cost of Sales (COS) has increased throughout the years partly contributed from the free shipping cost and has affected the net income figure. There was a drop in the net income in 2006 due to increase spending on technology and content and in income tax expenses. However, the said figure has increased thereafter. In terms of sales, Amazon has performed double from the competitors throughout the four-year period. Sales increased tremendously primarily due to low prices, vast selection of products and free shipping offers. However, in terms of Gross Profit Margin (GPM), Ebay operated at 74% has outperformed Amazon at 23% in 2008. The reason behind this is due to Amazons high expenditure on Cost of Sales (COS), which is about 70% of its sales value. The high COS was mainly contributed from the free shipping cost incurred. In comparison to Ebay, the company applies different business model from Amazon and have managed to minimise its expenditure on COS at about 20% of its sales value and therefore reflected to a high GPM. GPM proves that eBay is generating a very large percent of net income from each dollar of sales and this contributes greatly to the growing of eBays overall financial strength. Meanwhile, BN showed a better margin because of its smaller size and the retailer aspect. Amazon and BN have a stable Operating Profit Margin (OPM) of 4% compared to Ebay, which fluctuates within the same period. Its constant operating expenses of 20% from its sales value support the stable growth for Amazons OPM. Ebays fluctuation figures are resulted from high expenses incurred from selling, general and administrative. Based on the industry standard, Amazon and its competitors have performed ahead from the standard, which are 14.1% and 0.53% for GPM and OPM respectively. The low OPM standard can be ascribed to the effect of the recent financial crisis. As of the 3rd quarter of 2009, Amazons sales were $14,989 million with net income of $518 million. For the current year, it is projected a further increase of 21% and 19.5% in sales and COS respectively from 2008 primarily to the low prices, vast selection and free shipping offers. With the said sales projection, the net profit is projected at $743 million in 2009. The basis for the projection takes into consideration on the global economic downturn and changes in customer purchasing preferences. Based on the current quarter performance, the same trend was observed wherein Amazon is still having the highest net sales while Ebay still dominating the net income figure. BN was badly hit from the result of economic crisis. In comparison with the competitors, Amazons Return on Equity (ROE) was high in 2005 at 135% but drastically dropped throughout the years to 40% and 20% in 2007 and 2008 respectively. The main reason for the decrease was due to the yearly increase in the businesss equity. As at 2008, Amazons ROE is equivalent to the competitors and is expected to be in line with the competitors in the future. In comparison on the ROE and Return on Assets (ROA), Amazon has the highest growth among its competitors as it has a smaller capital base than Ebay and a higher profit level than BN. The high ROE is indicates that Amazon is continuing to grow. Meanwhile the ROA showed that Amazon is efficient in generating income from its assets compared to its competitors. The industry standard for the ROE and ROA are 3.8% and 1.6% respectively. The lower industry standard might be driven by the economic condition, which has a great impact to the performance and profitability of most companies. There was an increase of 1% for each year from 2006 to 2008 for the Return on Investment (ROI), whereas the Return on Capital Employed (ROCE) was at the highest in 2008 at 29%. These have indicated that Amazon is efficientat using its assets to generate earnings compared to the competitors. Liquidity and leverage analysis The companys current ratios are more or less similar to BN during the four-year period. The companys current ratio was between the ranges of 1.3 to 1.5 for the past four years. This indicates that Amazon is able to lay its hands on $1.30-$1.50 for every $1.00 they owe. In comparison between current and acid test ratio, acid test ratio is lower at average of 1.0 within the years. It will enable the company to cover its short-term liabilities adequately with its liquid assets. This is within some of the industry standards of 1:1, showing that the company will be able to cover its short-term liabilities adequately with its liquid assets. In comparison with the industry, Ebay performed better than Amazon for both the current ratio and acid test ratio. Amazon fell below the standard in the initial years but almost meeting the standard in 2008 at 1.5:1. Although not performing better than the industry average, Amazon has good and stable ratios, which indicates that the company is able to cover its current liabilities. Amazons gearing ratio was high in 2005 at 86% and subsequently reduces within the years to 13% in 2008. Due to the operational efficiency, increased sales and improved liquidity, Amazon was able to reduce its debt and currently the business is funded with internal generated funds. Meanwhile, Ebay has no borrowings and BN has an average of 30% for the gearing ratio. The high borrowing in 2005 has a huge impact on the debt-to-equity ratio, which was 6:0:1. However as the borrowings is paid, the debt equity ratio when down to 0.2:1 in 2008. This indicates that Amazon has 20 cent debt for every $1 equity the company have. As for BN, its debt/equity ratio was at average of 0.5:1 during the four years. Therefore, in comparison, Amazon is less risky than BN. As Ebay has no borrowing, the interest cover for the said company is high compared to Amazon and Ebay. In comparison with the debt-to-equity ratio set by the industry, Amazon has a very low ratio of 0.2 compared to 40.98. As mentioned earlier, the industry ratio is on the high side due to the economic condition. Investment analysis Amazons common shares outstanding plus shares underlying stock-based awards outstanding totalled 446 million on December 31, 2008, compared with 435 million a year ago. As of to date, the said shares amounted to 451 million. Based on Amazons Earning per Share (EPS) trend, it indicated that the markets willingness to pay for the companys earnings has increased. This indicates that the market foresees Amazons long-term prospects over and above its current position. As at 3rd quarter 2009, the EPS was $1.20 and to grow further based on the companys projection on higher earnings in 4th quarter. Analyst predicts that strong online holiday sales will boost the shares of retailers, including Amazon and has recommended that the said shares will outperform in the market (Reuters.com, 2009). In terms of market performance, Amazons share price fluctuates throughout the years and increased tremendously in 2007 at $92.64 due to the launch of its e-book reader, Kindle. However, during the economy downturn in 2008, the share price dropped to $51.28 due to low operating profit as Amazon begins its price reduction for the goods and services. In 2009, the share price gradually increased and after the 3rd quarter results, it continuously went up and as at 11 December 2009, the share price was $134.15. The current Price/Earning Ratio has increased to 80.70 times from 33.80 times in 2008. Analyst predicted that with a strong revenue growth Amazon would be able to gain significant market share from other competitors (Stahl, 2009). Due to the economic downturn, all companies are affected which was reflected in its performance. Similar to Amazon, Ebays and BNs share prices had an initial stable growth but in 2008 it dropped by about 50%. While others are still struggling to recover from the economic situation, Amazon has showed a growth in 2009 and the share price has currently increased by 168% compared to Ebay and BN at 70% and 62% respectively. Cash flow Analysis As at 3rd quarter 2009, the cash and cash equivalents was $2,514, which a reduction from the opening balances at the beginning of the year of $2,769. During the period, the cash used in financing activities was $229 million compared to $1,199 million in 2008 of which the cash outflows results from repurchases of common stock, repayments of long-term debt. Repayments on long-term debt and payments on capital lease obligations were $379 million for the 3rd quarter 2009 and $335 million in 2008. Meanwhile, free cash flowwas $446 million for the quarter. Throughout the years, Amazon has managed to have a positive cash flow from its operating activities. This indicates a good sign that the core operation of the company is generating income. In comparison of Amazons total liabilities to the cash flow generated from operations, the company has enough funds to cover level of investment and takes about 3.3 years to pay back all its financial commitments. With the current cash, cash equivalents, and marketable securities balances, the company is likely to be able to meet its anticipated operating cash needs for at least the next 12 months. In comparison between the cash flow from operating activities and net income, it indicated that Ebay has the higher ability compared to Amazon in managing its operating cash cycle through receivables, payables and inventory. The reason is that Ebay takes advantages of its payable days for as long as 361 days. Due to the similar business model, both companies have a negative cash cycle of which cash is generated from its payable and quick settlement payment from the customers. Management of Working Capital In terms of managing working capital, Amazon had maintained its positive cash flow being the highest at 2007 for an amount of $1,450. This indicates that the company is able to pay off its short-term liabilities and operating expenses accordingly. In comparison between the competitors, Ebay has the highest working capital of $4,023 million in 2007 while BN has the lowest at $841million in 2006. The high working capital for Ebay has enabled the company to be successful in its expansion programme and improve their operations. For the 3rd quarter ending 31st December, Amazons working capital is $1,832 million and is expected to increase further due to higher expectation of sales in the coming quarter. Working capital provides information on the companys underlying operational efficiency. In terms of efficiency, Amazon is efficient in using its assets in generating sales compared to its competitors, which are reflected in the asset turnover ratio. This indicates Amazons improved efficiency in inventory and asset management that is partly supported from the low pricing strategy and low profit margin. In comparison to the competitors, BN has the lowest account receivable days due to its retail business model, which is based on the cash transaction. Based on the account payable days, Ebay has taken advantage on the free source of finance for the business at 361 days compared to Amazon at 62 days. In respect of the inventory days, Amazon is able to turn the inventory quickly as low as 12 days compared to BN at 140 days. BN has high stock inventory days due to the reason of its retailing business model and product which requires some time to be sold. Due to the same business application, both Amazon and Ebay have a negative cash operating cycle, which indicates efficiency in cash management. In term of the industry standard, the three companies are performing above the indicative ratios, which are supported by the significant growth in the industry. Based on the industry standard, Amazon and the competitors are performing ahead from the standard. For the assets turnover ratio, Amazon was the highest at 2 times compared to 0.7 times industry standard. This indicates the companys efficiency at using its assets in generating sales. The reason Amazon performed better than the competitors is relatively derive from the pricing strategy wherein low profit margin company tends to have high asset turnover. Amazon Future Prospects Based on Amazons current performance, it is projected that the company will have a strong growth supported by the low pricing strategy and free shipping. Moreover, the latest acquisition of Zappos.com and improvised version of Kindle are expected to increase Amazon sales which leads to higher profitability. Due to the growth of Amazon, its annual earning is expected to grow over the next two to three years with sales reaching $2.38 million and $2.86 million respectively. Due to robust financial performance during the current economic condition, it has enhances investors confidence. Share prices are expected to increase with earnings of $2.57 and $2.38 per share in 2008 and 2009 respectively. In line with the said growth, Amazon will benefit in gaining additional market share despite tough competition from other online sites such as Ebay. References Amazon.com Annual Report 2008 Available from: https://amazon.com (accessed on 11th November 2009) Amazon.com 3rd Quarter 2009 Report Available from: https://amazon.com (accessed on 11th November 2009) Ebay.com Annual Report 2008 Available from: https://ebay.com (accessed on 11th December 2009) Barnes and Noble Annual Report 2008 Available from: barnesnobleinc.com ((accessed on 11th November 2009) BBC News (2008), Amazon Shares Fall Despite Growth. (Online) Available from: https://news.bbc.co.uk (accessed on 5th December 2009) George Stahl (2009), Amazon Shares Hit All Time High. The Wall Street Journal (0nline), Available from: https://online.wsj.com/article/SB125630854623203899.html (accessed on 4th December 2009) John Pacskowski (2009), Spare Change for Amazon Shares. The Wall Street Journal (Online), Available from: https://online.wsj.com/article/SB125630854623203899.html (accessed on 4th December 2009) Richard Waters and Jonathan Birchall (2009), Amazon Share Surge Recalls Tech Boom Days (Online) Available from:https://ft.com (accessed on 5th December 2009) Reuters.com (2009), Nasdaq rises with Online Retailers Dos Dips on Oil. (Online), https://ul.reuters.com (accessed on 3rd December 2009) www. reuters.com (accessed on 1st December 2009)

The Black Plague New York The Free Pass 1983 - 1290 Words

The Black Plague BY: Kevin Arellano World History,Per.7,Mrs.Sutherland April 24,2015 Works Cited 1.)Robert S. Gottfried. The Black Plague. New York :The Free Pass 1983 2.)The Black Death. AE .Television Networks.1979 3.)Don Nardo. The Black Death.Minneapoles.2011 4.)Sheri Johnson.The Medieval Plague.Minnesota 5.)Stephen Person. Bubonic Plague, The Black Plague. New York Introduction/Origin Do you know what The Black Plague was, it was a horrible disease that people back in the middle ages didn’t know where it came from how to fight off against it and how it spread. People back then didn’t know where it came from but scientists now think they know. Scientists think that Black Rats and fleas caused the black plague that the fleas carried it and gave it to the rats then the rats passed it along then the rats died and the fleas moved to a new host they moved to humans and spread it even further.(AE, The Black Death)The rats that infected the humans lived in a city called Kaffa and then went on ships with people and moved to other places like Italy, Constantinople and England. When the rats died the fleas went to humans and the rat’s dead bodies would give an animal and or human the virus without the flea having to bite anyone. (Stephen Person pg.4)The fleas probably feed on the rats blood and gave the rat the infection the rat then died and the fleas moved on to a new rat when there were no more living rats they probably went on to humansShow MoreRelated The Plague - The Black Death Essay1429 Words   |  6 PagesThe Black Death The Black Death is known as the worst natural disaster in European history. 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Portfolio - Bond and Share Valuation

Question: Explore the portfolio, bond and share valuation. Answer: Executive summary In this given assignment, three questions are there which will give an in-depth knowledge of portfolio, bond and share valuation. This analysis will help the investors to invest in the financial market maximizing their return while minimizing risk. In portfolio valuation, covariance means measure of joint deviation of share JAY and KAY around their respective mean (expected return). To create a portfolio of JAY and KAY giving 15.6% return weights of JAY and KAY must be 70% and 30% respectively. In Bond valuation, market price of three different types of bond is determined, based on which it is classified whether the bond is trading at par, premium or discount by comparing with face value. Market price of bond B also helps in determining the number of bonds required to raise a fund of $465260. In share valuation, three types of Dividend Discount Model (DDM) for no growth, constant growth and two period growths is analyzed. Also the difference between just paid and plans to pay a dividend can be understood properly. Conclusion It can be concluded that, portfolio valuation gives us a clear picture of how two stocks can be combined in different weights to give high return with less risk as compared to investment in individual stock. In case of bond valuation, determination of bond price will help to identify which bond is trading cheap so that it can be bought and which one is trading rich so that it can be sold in the market immediately. In case of share valuation, determination of its market price will help the investors in deciding which share to hold and which one to sell with the help of DDM. Recommendation In case of portfolio valuation, different weights of share JAK and KAY must be used to build a portfolio having maximum expected return with minimum risk as correlation coefficient (r) of these two stock is negative i.e.-0.3 which means there is immense benefit of diversification, in fact to the extent that a risk free portfolio can be constructed. In case of bond valuation since Bond A and B are trading at a discount so, it is advised to buy those bonds whereas Bond C is trading at a premium so it is advised to sell that bond. It is advised to buy share of NoChange Ltd as it is trading at a very lower price as compared to other shares.

Revolution Essay Example

American Revolution and Native Peoples The American Revolutionary War (1775–1783), fought between the Kingdom of Great Britain and the thirteen United Colonies, was the culmination of the political American Revolution. The colonists fought for its political freedom and took control of every colony, driven out most royal officials in 1775, and proclaimed as a new nation, the United States of America, in 1776. In 1778 most of the European Nations had joined against Britain. Native Americans fought for both British and American sides. After American’s victory at Saratoga in 1777, France, with Spain and the Netherlands as its allies, joined the war against Britain. French naval victory in the Chesapeake led to the surrender of a British army at Yorktown in 1781. The Treaty of Paris in 1783 ended the war and recognized the sovereignty of the United States (wikipedia n.pag 2007). This was not a clash mainly about economics, but about the values of democratic government. In other words this was also a conservative revolution. Many of those important in the freedom movement were most unwilling to break the link with Britain and considered it as a last option. They also insisted that in opposing the British government they were just stating their rights as Englishmen and it was the British government that had first disrupted the ‘status quo’ by enforcing illegal dealings in the colonies. The Quebec Act 1774 was the most intimidating, which authorize the French Canadians and Indian allies to settle in the Ohio and Mississippi valleys, hence cutting off the development of the colonies to the west. Rising bitterness in the colonies led to the First Continental Congress in 1774. The Revolutionary War started at Lexington in April 1775 and the announcement of freedom formally breaking the connection between the colonies and Britain was signed on 4 July 1 776 (Mervin n.pag.) The Royal Proclamation of 1763 which tried to check colonial extension beyond the Appalachian Mountains, and had estranged many American colonists. The Native Indians understood that the Revolution was a fight for Indian land and for independence. A few Indian ethnic groups went to war against American colonists and conversely, some Indians from the mission town at Stockbridge in western Massachusetts, supported American colonists. They got recruited as minutemen even before the occurrence of the fighting, joined Washingtons military, and served in New York, New Jersey, and Canada. The Revolution divided the Iroquois union. Mohawks guided by Joseph Brant stuck on to their very old loyalty to the British, and ultimately the majority Cayugas, Onondagas, and Senecas united with them. However Oneidas and Tuscaroras supported the Americans. The Revolution seemed to be a civil war for the Iroquois, since Oneidas fought with Senecas at the Battle of Oriskany in 1777. Iroquois set back were increased in 1779 when General John Sullivan commanded an American army through their nation, setting fire on forty towns and ruining all crops. Some of the Native Americans such as Guyashuta of the Senecas, Cornstalk of the Shawnees, and White Eyes of the Delawares of Ohio country tried hard to maneuver a neutral course in the beginning of the war. By the Treaty of Fort Pitt in 1778, Delawares and Americans promised lasting peace and friendship. However after Americans killed White Eyes and Cornstalk, and massacre civilians Moravian Delawares at the mission town of Gnadenhutten, Ohio Native Indians made common reason with the British. They won and continued to oppose American growth for years after the Revolution. In the year 1783, as per the terms of the Peace of Paris, without giving any importance to its Indian allies, Britain returned United States its entire region. The United States continued to spread out westward, gaining Indian lands through treaty and by force. The Native Stockbridges and Oneidas who had helped the Americans lost their lands and also Senecas and Shawnees who had battled against the Americans. As a matter of fact, Indians struggled in the Revolution for Indian liberation and Indian native soil, not for the British kingdom. But majority of Americans believed that Indians had backed British kingdom. The nation envisioned in freedom requires, feel no regret about dispossess and drive out those who had battled against its birth (Calloway n.pag 2003). Work Cited Calloway, C.G. American Indians and the American Revolution   17 October, 2003. National Park Service, U.S. Department of the Interior. 30 June, 2007   http://www.nps.gov/revwar/about_the_revolution/american_indians.html Mervin, D. American Revolution   Answers.com. Political Dictionary, Oxford University Press, Inc 30 June, 2007 http://www.answers.com/topic/american-revolution?cat=biz-fin Wikipedia, American Revolutionary War 29 June,2007. Wikimedia Foundation, Inc. 30 June, 2007 http://en.wikipedia.org/wiki/American_Revolutionary_War Let Us Do Your Assignment Now We can’t wait to help you do your work. If you’ve taken so much time to read all this, quite possibly you need genuine help. So instantly call us and tell us, â€Å"do my assignment.† Place your order now.

Anemia Essays - Hematopathology, Anemias, RTT, Mineral Deficiencies

Anemia Essays - Hematopathology, Anemias, RTT, Mineral Deficiencies Anemia What is Anemia? Anemia is a deficiency of red blood cells or hemoglobin in the blood. The word anemia comes from two Greek roots, together meaning without blood. At the beginning of the nineteenth century, anemia referred to the pallor of the skin and mucous membranes. After medical science advanced, blood cell counts could be done. Anemia became the disease we know today. Symptoms of Anemia Mild anemia may have no outer symptoms. Weakness, fatigue, and pallor are very common symptom. Symptoms of severe anemia are shortness of breath, rapid heartbeat, lightheadedness, headache, ringing in the ears, irritability, restless leg syndrome, mental confusion, dizziness, fainting, and dimmed vision. Types of Anemia Iron deficiency anemia- the most common type of anemia; occurs because of low iron levels. Folic acid deficiency anemia- levels of folic acid are low because of inadequate dietary intake or faulty absorption. Pernicious anemia- inability of the body to properly absorb vitamin B12. Hemolytic anemia- red blood cells are destroyed prematurely. Sickle cell anemia- inherited abnormality of hemoglobin; occurs mainly in people of African or Mediterranean decent. Thalassemia anemia- inherited disorder in the synthesis of hemoglobin. Aplastic anemia- decreased bone marrow production. Diagnosis of Anemia Determining the cause of anemia is very important because it may be the sign of a very serious illness. A physician should ask about family history of anemia, gallbladder disease, jaundice, and enlarged spleen. A stool test should be done and the physician should check for swollen lymph nodes, an enlarged spleen, and pallor. Laboratory tests can test both the numbers of red blood cells as well as look at their appearance. Treatments of Anemia Because there are so many different types of anemia as well as causes, treatments vary widely. If the type of anemia results from a vitamin deficiency and there is no underlying cause, treatment is simple. Vitamin supplements can be taken or a change in diet can be made. Transfusions and bone marrow transplants for some other types of anemia can be made. New drugs are currently being tested to help anemic patients. Bibliography healthy.net/library/books/healthyself/womens/anemia.htm webmd.lycos.com/content/dmk/dmk_article_5461922 sleeptight.com/EncyMaster/A/anemia.html sleeptight.com/EncyMaster/S/sickle_cell.html Understanding Anemia by Ed Uthman, MD (from: neosoft.com/uthman/unanemia/unanemia_ch1.html)

Should You Guess on the SAT 6 Guessing Strategies

Should You Guess on the SAT 6 Guessing Strategies SAT / ACT Prep Online Guides and Tips It can be hard to know when to guess on the SAT, especially since the recent overhaul has changed for the test is scored.But the truth is more straightforward than you might expect! Read on to find out whether you should guess on the SAT and what you can do to maximize the number of correct answers you end up with from guessing. Should You Guess on the New SAT? The SAT used to have a guessing penalty of a quarter of a point per incorrect answer. This made the question of whether you should guess on the test much more complex.Depending on how many answers you could eliminate, it might have been a good or bad idea to guess within the remaining choices.Guessing incorrectly on four questions would lead to a loss of a full point in your raw score whereas if you left them blank, you wouldn’t have any points subtracted. With the new version of the test, this guessing penalty is gone!This means that the answer to the question in the heading of this section is yes. You should answer every multiple-choice question on the new SAT, even if you have to guess.If you get all of them wrong (which is unlikely), you won’t be any worse off than if you didn’t bother to answer. This will come as a relief to many students, but you should still be cautious about guessing unless you’re almost out of time and are forced to fill in random bubbles.Don’t resort to blind guessing too quickly when you get frustrated with a question just because you know you won’t lose points; you’ll end up selling yourself short.The next section will give you strategies for smart guessing on each part of the test. Blind guesses: usually not the best option. Strategies for Making Educated Guesses Here are some strategies that will help you to avoid guessing randomly and increase your likelihood of choosing the right answer. Reading #1: Listen to Logic The SAT Reading section includes challenging passages that come from real scientific and historical writings. This means that the answers to questions about details in the passage should align with your ideas of what makes sense for the topic. Here's an example of a question that asks about an adapted excerpt from Elizabeth Cady Stanton's address to a Women's Suffrage Convention in 1869: If you're trying to guess on this question, you can eliminate some answers even if you only know the bare minimum about the content of the passage and US history as a whole. Choice A doesn't really make sense because the problem that Stanton is fighting against is long-term control of society by men. She probably wouldn't argue that "the control of society by men" was a recent development at all. Choice B also seems incorrect for larger reasons. It's unlikely that anyone would claim that the spread of war and injustice was a recent historical development at that time in history. Choice C doesn't make sense because women, not men, had traditionally dominated domestic life. This was especially true at the time that Stanton was speaking. Choice D is the answer that seems most plausible if we look at the question logically. Only recently had women begun to be appreciated as human beings on an equal intellectual footing with men (although still to a limited degree obviously, since we didn't get the right to vote until 1920...sigh). This strategy only works for some questions, but it shows how you can sometimes guess without reading the passage and still come up with a likely answer. Keep your wits about you. If something doesn't make logical sense to you, you should listen to that feeling. #2: Use â€Å"Find the Evidence† Questions An interesting development forthe Reading section on the new SATis the introduction of â€Å"find the evidence† questions.These questions will ask you to choose a quote from the passage that best supports your answer to the previous reading question.Although this could be dangerous because getting one wrong might also mean getting the other wrong, it might actually help to ground you in your decision about the most valid answer to the original question. Here’s a pair of questions from a new SAT practice test that illustrates my point.For context, in the passage Akira is a young Japanese man who is meeting a woman named Chie to ask for her daughter Naomi's hand in marriage before he accepts a job in America. Let’s say you aren’t sure about the answer to question 9. You think there are a couple of different possibilities, and none of the answers seems totally out of the question.You can check the evidence listed in question 10 for hints that might give away the answer to question 9.One of those lines must provide direct evidence for the answer. The lines for each choice in question 10 read: A. â€Å"I don’t want to trouble you.†B. â€Å"Normally I would approach you more properly, but I’ve received word of a position. I’ve an opportunity to go to America, as a dentist for Seattle’s Japanese community.†C. â€Å"Depending on your response, I may stay in Japan.†D. â€Å"I see I’ve startled you.† Now, let's look back at question 9 and evaluate the choices. There’s nothing about the speaker’s parents in the evidence, so we can cross off A.There’s also nothing about Akira's fears of Naomi’s rejection, so B is a no-go as well.There is clearly some evidence for C in choice B on question 10, so we can keep that one.There doesn’t seem to be clear evidence for D either; although the statement is true, it’s not the reason the speaker feels this is a matter of urgency, and it’s not explicitly mentioned in the quotes for Question 10. We can conclude that the answers to these questions are C and B respectively. If you use "find the evidence" questions wisely, you can go from taking a blind guess on two questions to feeling relatively confident in your answers to both. Crap, this question reminded me that I really should go to the dentist. Or even get to the point where I have an adult dentist (a dentist that treats adults, that is. My dentist isn't a child, I just happen to like putting Play-Doh in my teeth and pretending it's real fillings). Writing #3: Choose the Shortest Answer In the Writing section, the right answer is usually the one that's the most clear and straightforward.If you can’t decide between a couple of different choices and they both seem like they could be correct, pick the one that has the least number of words in it.Here’s an example: Typically, the ice sheet begins to show evidence of thawing in late summer. This follows several weeks of higher temperatures. In this case, A is the correct answer because it allows for a combination of the two sentences without including any superfluous or repetitive words.This doesn’t work for every question, but if you have to resort to guessing, it’s a good rule of thumb to follow. #4: Read Back Your Options Again This may seem obvious, but if you’ve narrowed down your choices to a couple of options, it doesn’t hurt to read them back to yourself again in the context of the passage.Even if you don’t know the grammar rules, reading things back in your head may clue you into answers that feel â€Å"off.†If you read a sentence like this under non-test conditions, would it sound right? Or would you think it was weird? There’s a tendency to twist perception to feed doubts you have about eliminating odd-sounding choices because of the pressure involved on the SAT.If you make an effort to be more objective and think of the question apart from the stressful context of the test, incorrect choices may become obvious. Don't get it twisted. Math #5: Plug It In If you think you’ll have to resort to guessing on a math problem that involves solving an equation, and you aren’t too short on time, you can try plugging in all the possible answers.You have a good chance of answering correctly if you do this, even if you had no idea how to solve the problem originally.This is a case where putting in just a little extra effort into your guess can reap some serious rewards. #6: Use the Visuals The math section includes many diagrams that illustrate the scenario described in the problem.If you’re not sure how to solve a math problem, and it has an accompanying visual element, you should make a logical guess based on the visual.Here’s an example (from a sample practice test for the new SAT) of what I mean: By looking at the diagram, you can tell that there’s only one answer that makes sense even if you don't know how to solve the question. Angle 2 is clearly larger than a right angle, so it must have an angle measurement greater than 90 degrees. This means that the first three answers are all too small to be a good fit based on what we can see in the diagram.The answer has to be D, 145 degrees! Extra-Special Bonus Section: Guessing on Non-Multiple Choice Questions There's also no penalty for incorrect answers on grid-in Math questions.You either get one point for a correct answer or no points for a blank or incorrect answer. Guess if you think you might have a shot at the right answer. Even if you don't feel confident, you have nothing to lose. I want to emphasize what makes these questions different from multiple choice on the guessing front. The grid-ins are the only questions where you shouldn't guess if you have absolutely no idea what the answer is. It’s a waste of time to fill in those bubbles at random because the chances of getting the correct answer that way are astronomically low. It's like rolling dice, but with way more sides than the number that regular dice have. Conclusion You should answer every multiple choice question on the SAT because there’s no guessing penalty! However, you also need to be meticulous in your guessing strategy so that you’re not just filling in bubbles at random.If you want your guessing success rate to be higher than it would be through pure chance, you should follow the tips I’ve given you in this article. To Review: Reading 1. Eliminate choices without direct evidence 2. Use find the evidence questions as anchors Writing 3. Choose the shortest answer 4. Read the choices back to yourself objectively Math 5. Plug in the answer choice 6. Use the visuals Special Note on Grid-Ins Guess if you think you might know it, leave it blank if you have no clue! With a little bit of extra thought on the new SAT, you can turn your blind guesses into answers that make you feel pretty confident. What's Next? If you're not sure how to prepare for the new SAT, check out this article for some study tips! Since the new SAT is out of 1600 instead of 2400, you might not have a good idea of what your target score should be. Find out how to calculate a good goal for yourself here. It's possible that the ACT will be a better standardized testing choice for you than the new SAT. Learn more about which test aligns more favorably with your strengths and weaknesses. Want to improve your SAT score by 160 points? Check out our best-in-class online SAT prep classes. We guarantee your money back if you don't improve your SAT score by 160 points or more. Our classes are entirely online, and they're taught by SAT experts. If you liked this article, you'll love our classes. Along with expert-led classes, you'll get personalized homework with thousands of practice problems organized by individual skills so you learn most effectively. 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Book of Ethan Frome by Edith Wharton Essay Example | Topics and Well Written Essays - 750 words

Book of Ethan Frome by Edith Wharton - Essay Example Wharton uses setting, characterization, and symbolism to depict how isolation has emasculated Ethan Frome. The setting of the book is Starkfield, a fictional New England village, which depicts isolation's impact of emasculation on Ethan Frome. Starkfield is an isolated and cold place, which also shapes its small-town culture. It is quite distant from other cities and constantly experiences harsh, cold weather. The weather resembles a cold blanket that hangs on people's attitudes toward life. The community is also poor, which is why Harmon believes that those who get away from Starkfield are better off: â€Å"Most of the smart ones get away† (Wharton Chapter 1). The weather and geographical location can get under people's skin, as they make it easier to feel lonely and hopeless. One description of the setting highlights the sadness and hopelessness of Starkfield: â€Å"Beyond the orchard lay a field or two...huddled against the white immensities of land and sky, one of those l onely New England farm-houses that make the landscape lonelier (Wharton â€Å"Ethan†). The whiteness of the field makes the isolation even more immense, where white means nothingness and the absence of color stands for the absence of life. In addition, the farm houses can be compared to the townspeople. They also feel isolated from each other. They may gossip about one other a great deal, but they are detached from truly doing something for each other. For instance, people feel sorry for Frome after the â€Å"smash-up,† but they do not offer him any real empathy. Frome must have felt lonelier, because of the lack of human connection that would help him make sense of his tragic life and provide better companionship than what Zeena can offer. Furthermore, the coldness of the setting seeps into people's hopes, by freezing their dreams. Ethan once dreamed to be an engineer, but because of lack of social and financial support, he did not become one anymore. Then, he dreams of being with Mattie, but because of his poverty, which can be rooted to the land's barrenness and the moral thinking that it would be wrong to leave Zeena, he does not fight for his love for Mattie. The ending shows that he becomes colder as a person, who is no longer capable of happiness. Ethan Frome is a dynamic character, who changed from an ambitious dreamer to a caregiver to the doomed â€Å"patient.† Before, Frome envisions himself as an engineer, which is why he is interested in the engineer's books. Later on, because his family is detached from family relations, he has become the primary caregiver to his parents. Harmon affirms this and says: â€Å"I guess it's always Ethan done the caring† (Wharton 1). Instead of breaking free from Starkfield, he becomes increasingly bonded to it, especially after marrying Zeena. When Zeena got sick, Frome finds himself the carer once more. In addition, Wharton shows that the setting is Ethan Frome itself, where he is â€Å" an incarnation of the land’s frozen woe with all that was warm and sentient in him fast bound below the surface† (Wharton 1). Carroll stresses that Ethan is as â€Å"mute and melancholic† as Starkfield, as if he is â€Å"one of the outcroppings of slate that push up through the snow† (2). He is like a slate, especially when he realizes the reversal of gender roles in his marriage. Zeena undermines Ethan's masculinity by constantly siphoning his money and time. Ethan re-establishes his manhood with Mattie, however, since the latter