The Geographic Information System Program Research Paper

The Geographic Information System Program - Research Paper Example In essence, information about specific places on the earth’s surface influences economic, social, and political activities with society opting for hospitable regions. This is facilitated by the availability of geographical information that distinguishes regions by physical principles, which necessary for effective planning and development in modern society. Such information is derived from maps and satellite images, which then analyzed and presented in accordance with the desired parameters such as terrain, population, among other analytes. Over the years, specialized computer systems have employed to process geographical information such as digitization of raw data, storage, automated analysis of the data, and predict outcomes of various scenarios. Such sophisticated computations are made possible by geographical information systems (GIS), which illustrate the computer-based capacity to manipulate geographical data. These systems include not include basic computer hardware an d software, but also special input and output devices to create map products. GIS also includes a communication system that allows linking of various stations for comprehensive data collection. The system functions to acquire, verify, compile, store, manage, analyze, and present geographical data on demand in various formats as per the study requirements. In light of this, the information presented is vital for researchers to map, study, and understand trends and patterns affecting the society. As such, GIS plays a critical role in planning and management of various aspects that could otherwise impact the society negatively. The application of the geographical information system is preceded by the art of making maps where GIS sought to modernize the trade. Past civilizations are credited for their role in shaping descriptive illustration of their surroundings, which fuelled advancements in the area. Cartography dates back to ancient civilizations where scholars and explorers passion ately expressed their view of the world, as they perceived it, similar concepts were adopted with technological advances to generate digitized models of desired regions of the earth. This can be attributed to the quest towards improved geo-referenced information at the height of photozincography, which enabled layering in maps. This involved cumbersome tasks of drawing different versions of a single map to demonstrate layers such as vegetation, terrain, and infrastructure. The upsurge of computer hardware development in the 1960s saw mainframe computers support the earliest of geographical information systems. The first operational GIS was developed by Dr. Roger Tomlinson with aim of studying rural Canada, which allowed researchers evaluate the land’s capability to host agriculture, wildlife, as well as support the society.1 Technological advances produced minicomputers during the 1970s to support GIS applications, which operated in a timesharing mode to ensure functionality. 2 Moreover, the invention of personal computers revolutionized the geographical information software, as it was readily available for these machines. This marked the beginning of a promising GIS hardware market that would see the invention of increasingly powerful computers with increased capability to be networked together.

Valuation Methods of Collateralized mortgage obligations Dissertation

Valuation Methods of Collateralized mortgage obligations - Dissertation Example ted For Research Study 55 Data Analysis 57 Data Analysis Technique 57 Appropriateness of data analysis technique 59 Description on Questionnaire Formulation 61 Findings of the Research (CMO Valuation Model) 62 Reliability on the Data 62 Chapter Summary 63 Chapter Four: Methods 64 Introduction 64 Research Method 64 Research Design 66 Population and Sample 67 Sampling and Sampling Technique 67 Research Instrument 68 Primary Data Collection 69 Secondary Data Collection 70 Ethical Issues 71 Chapter Five: Findings 72 Introduction 72 Overview of the Study 72 Findings 72 Research Question One 73 Degree of relationship between the yield of FNMA-supported tranches and return on the US treasury bonds 73 Effect of Projected and Market Consensus on Subprime MSRs 76 Research Question Two 77 Relationship between the yields of FNMA-supported tranches and the assumption of the prepayment speed 77 Factors influencing the term structure of interest rate 79 Review on Subprime Meltdown 80 Research Quest ion Three 80 Fundamentals of CMO valuation identified through secondary data collection 81 Research Question 4 91 Quantitative representation of the MSR Price Impact 91 Component MSR Price Impact: 91 Total MSR Price Impact: 91 Impact on Sample Residual Interest is More Significant: 92 Fixed-rate mortgage valuation methodologies 93 Benchmark method 93 Rapid approximation method 96 Rational valuation approach 97 References 98 Dedication Acknowledgments Abstract Chapter One: Introduction This proposed quantitative descriptive research study discusses the various valuation methodologies of prepayment speeds with Collateralized Mortgage Obligations (CMO) tranches and analyzing how the prevalent valuation methods are useful in current complex economic scenarios. The objective of this study is primarily to examine the applicability of various methods of valuation for pricing the CMOs so as to determine their validity in the present economic conditions. Chapter 1 provides a broad overview o f the various facets with respect to the valuation of the prepayment speeds within CMO tranches. Collateralized Mortgage Obligations are derivative debt instruments that can be aptly defined as the claim that arises out of cash flows from large pools of home mortgages. The structure of CMO is such that once the principal and interest received from the mortgage holders it is distributed to tranches. The principal amount, the coupon rate, the prepayment risk and the maturity date differ among the tranches (Economy Watch, n. d.). CMOs are derivative debt instruments providing both retail and institutional investors the possibility of higher yields with a Standard & Poors AA