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HP 2000 SERIES
CONTRIBUTED LIBRARY
HEWLETT
i:t;
PACKARD
TIMI~-SH.ARED
BASICj2000
PROG ]{,AM DOCUMENTATION
(600) ]~ANAGEMENT SCIENCES AND OPERATIONS RESEAlRCH
(700) BU8INfJSS i\ND MANUFACTURING APPLICATIOl\rS
36000-91003
Printed in U.S.A. June 1974
HEWLETTr&PACKARD
TIME-SHARED BASICj2000
CONTRIBUTED LIBRARY
HANDBOOK
VOLUME III
(600) MANAGEMENT SCIENCES
AND OPERATIONS RESEARCH
(700) BUSINESS AND MANUFACTURING
APPLICATIONS
The Hewlett-Packard Company makes no warranty, expressed or implied, and assumes no responsibility in
connection with the operation of the contributed program
material attached hereto.
HEWLETT-PACKARD, SOFTWARE CENTER, 11000 Wolfe Road, Cupertino, California 95014 Area Code 408 257-7000 TWX 910-338-0221
36000-91003 6/7 4 Volume III
Copyright Hewlett-Packard Company 1974
Printed in U.S.A.
CLASSIFICATION CODE CATEGORY
(Not all categories have programs. Please refer to the INDEX
to HP BASIC Program library for available programs in HP BASIC)
100
DATA HANDLING (VOLUME I)
1fl1
1e2
1e3
1e4
1e5
106
1e1
108
109
1 Ie
112
114
200
505
50'"
507
50R
509
510
511
512
513
514
515
516
517
EDITING
INFORMATION STORAGE AND RETRIEVAL
TARLE HANDLING
CHARACTERISYMBOL MANIPULATION
CODE/RADIX CONVERSION
DUPLICATION
SORTING AND MERGING
DATA HANDLING UTILITIES
MEDIA CONVERSION
FILE MANAGEM~NT
SPECIAL FORMAT DATA TRANSFER
PLOT ROUTINES IN HP AASIC
TESTING, DEBUGGING AND PROGRAMMING AIDS
SIR
(VOLUME I)
519
201
202
203
204
205
206
201
20R
209
210
211
212
213
214
215
216
211
21R
219
300
MATH AND NUMERICAL ANAL YSIS
301
302
303
304
305
306
301
309
310
311
312
313
314
315
316
311
31"l
319
400
TRAC ING
INSTRUMENT TF:ST
DISC/DRUM EOUIPMENT TEST
MAGNF:TIC TAPE EQUIPMENT TEST
GRAPHIC F:~UIPMENT TE~T
M~MORY SEARCH AND DISPLAY
DUMPING
CORE STDRAGE TEST
CE~TRAL PRDCF:SSING UNIT TF:ST
RREAK POINTS
DERUGGING AIDS
PROGRAMMING AIDS
PAPER TAPE EOUIPMENT TEST
PIJNCH CARD EQUIPMENT TF:ST
PRINTER EDUIPMF:NT TEST
AID - D/A EQUIPMF:NT TF:ST
TELECDMMUNICATIONS EDUIPMENT TEST
SPF:CIAL DEVICE F:OUIPMENT TEST
DATA ACDIJISITION SYSTEMS TEST
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH
602
603
604
605
606
607
60R
610
700
716
117
71R
800
ReI
(VOLUME II)
R6e
401
402
403
404
405
406
407
40R
409
410
411
412
413
500
UNIVARIATE AND MULTIVARIATE PARAMETRIC STATISTICS
TIME SF:RIES ANALYSIS
DISCRIMINANT ANALYSIS
RF:GRF:SSION ANALYSIS
RANDOM NUMAER GENF:RATORS
PI03
'>04
SOCIAL ANn REHAVlnRAI_ Sr;IF:NCF:S
GF:DPHYS ICS
GEDLOGY
nCF:ANDGRAPHY
(VOLUME II)
863
87e
871
872
880
885
890
900
(VOLUME III)
.IOA I..(B~)"--_ _ _ _ _ _ __
Date_---.,;2=I...,.;..l..;;.o8/..;,,;7...,.;..0_ _ _ _ _ _ _ _ _ _ _ __
Number of Teams _ _..;,,;5~_ _ _ _ _ _ _ _ __
Judge_~No;;...;.r....;;;d~st.;;...;ro~m
Location
Designation
Team #
Price
351
DATA
1
30
500
65
352
DATA
2
30
850
353
DATA
3
31
354
DATA
4
355
DATA
5
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
_ _ _ _ _ _ _ _ _ _ __
Research
Incentive
75
100
30
100
80
160
20
500
55
75
30
10
29
650
90
80
10
0
26
500
65
75
80
30
Prom.
Prod.
CaQ.
DECSN, page 15
FORM I MANAGEMENT DECISIONS
year____________________
Company_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
II
1.
Sell ing Price
2.
Promotion Budget
3.
Production, Units
4.
Plant Cap. Add'ns, Units
5.
Plant Cap. Add'ns, $
6.
Cum. Cap. Add'ns, $
7.
Research Inv't, $
8.
Incentive Prog. Exp. , $
9.
Training Prog. Inv't, $
FORM II
1.
Sales, Uni ts
2.
Sales, $
3.
Begin, Inv'y, $
4.
Production Cost, $
5.
Mdse. Av. for Sale, $
6.
Ending Inv'y, $
7.
Cost of Goods Sold, $
8.
Gross Margin, $
9.
Promotion Exp., $
10.
Incentive Cost, $
11.
Training Exp., $
12.
Research Exp., $
13.
Inv'y Carrying Charge, $
14.
Overhead, $
15.
Cash Shortage Charge, $
16.
Net Income (loss), $
III
IV
INCOME STATEMENT
Year's
Profi t
Income
Tax
Net After
Tax
..
DECSN, page 16
FORM I MANAGEMENT DECISIONS
Company_ _x'-'-________________
Year_ _~19~7~X_ _ _ _ _ _ _ _ _ _ ____
II
1.
Sell ing Price
2.
Promotion Budget
3.
Production, Units
4.
Plant Cap. Add'ns, Units
5.
Plant Cap. Add'ns, $
6.
Cum. Cap. Add'ns, $
7.
Research Inv't, $
8.
Incent i ve Prog. Exp. , $
9.
Training Prog. Inv't, $
60,000
Sales, Units
2.
Sales, $
3.
Begin. Inv'y, $
4.
Product; on Cos t, $
5.
Mdse. Av. for Sale, $
6.
Ending Inv'y, $
7.
Cost of Goods Sold, $
8.
Gross Margin, $
9.
Promotion Exp., $
10.
Incentive Cost, $
11.
Training Exp., $
12.
Research Exp., $
13.
Inv'y Carrying Charge, $
14.
Overhead, $
15.
Cash Shortage Charge, $
16.
Net Income (loss), $
IV
65,000
2,000
120,000
75.000
FORM II
1.
III
75.000
77 ,000
INCOME STATEMENT
310,000
Year's
Profi t
Income
Tax
Net After
Tax
700.000
DECSN, page 17
FORM III CASH AVAILABLE
II
1.
Cash, End of Last Per.
2.
Inv'y End Last Period
3.
Net Income This Period
4.
Paid for Add'l Pl ant Cap.
S.
Inv' y End This Period
6.
Cash End This Period
FORM IV
1.
Beginning Inv' y
2.
Units This Period
3.
Total Units for Sal e
4.
Unit Sales, This Per.
S.
Ending Inv'y, Units
6.
Av. Unit Cost (IIS/IV3)
INVENTORY WORKSHEET
III
IV
DECSN, page 18
FORM III
CASH AVAILABLE
II
1.
Cash, End of Last Per.
660,000
2.
Inv'y End Last Period
310,000
3.
Net Income This Period
4.
Paid for Add'l Plant Cap.
5.
Inv'y End This Period
6.
Cash End This Period
III
120,000
FORM IV
1.
Beginning Inv'y
31,000
2.
Units This Period
60,000
3.
Total Units for Sal e
91,000
4.
Unit Sales, This Per.
5.
Ending Inv'y, Units
6.
Av. Unit Cost (IIS/IV3)
INVENTORY WORKSHEET
IV
CHART I.
Historical Unit Sales Record for Company
100
100
Sales in
Thousands
of Units
XIX
o
Pregame Period
m
n
(J)
.2
"0
Q)
'8
.....
co
CHART II
o
FINAL ANALYSIS SHEET
m
(')
TEAM
~
V
~
:~~ ~:~~
1. Inventory
2. Price
CJ)
A B C
OFF
~
~
4. Prod. Cost
~
:~~v:~~v$2'350'OOO~~~-J:~~
o
0
0 0 0
0
38
38
38
38
38
38
34
34
34
34
34
34
30
26
~
150
150
150
150
30 ~
30 ~ A
,-.,
30~
_ /30 _ ~
30
26 .....,
' - - - 26 v
v " - - 26 ~ 26 ~
' - 26
11 00
11 00
11 00
11 00
700
700
700
900
700
500
500
1200
1200
1200
1000
1000
1000
800
$7.40~800
4000
4000
$8.20
~800
1200
-A
$8.90 J
600/
4000
J
1000
'--800
11 00
11 00
900
900
J700
700
\f 500~500
/\.
500~500~
- 600 ~
2000
~OOO
0 ~
0
~1200
1200
\1000
1000
$8.10
600~
800
$8-30
~800
600/V
600
4000 / 4 0 0 0
4000
_ /\2000
~2000A 2000
\.., 0 ~
0
0
2000
0
~
(2000)
(2000)
(2000)
(2000)
(2000)
(2000)
1000
1000
1000
1000
1000
1000
500
o
6. Profits
~
OFF
,2
150
(final unit cost*)600 ~
5. Cash
F
150
900/900~900
3. Promoti on
0
~500~500~500(\
500N\j500
0
0
0
0
0
(500)
(500)
(500)
(500)
(500)
(500)
(1000)
(1000)
(1000)
(1000)
(1000)
(1000)
~
$3,311,974
~
$3,484,311
~
$2,231,623
~
($37,190)
~
$4,759,641
~
"0
til
co
co
N
o
DECSN, page 21
RUN
RUN
DECSN
NO.
PRICE
1
2
3
4
5
6
7
8
30
38
31
29
38
30
28
27
PROMOTION
588
858
508
650
588
550
458
788
TEAM NO.
PRODUCTION
65
188
55
90
65
90
78
98
SALES
90011 .1
105377.
81906.7
94503.2
82772.2
89066.8
86677.1
187639.
1
2
3
4
5
6
7
8
DONE
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
55
90
55
70
55
60
50
75
,
,
,
.I
,
,
,
,
.985
.985
, 36
1
, 12
1
, 96
1
.985
.I 60
1
.985
RESEARCH
75
88
75
88
75
88
88
86
PROD COST
, 0
, 0
.I 700
, 735
, 700
.I 0
, 735
.I 8
100
130
30
18
88
18"
5"
60
ADMIN COST
, 75
, 80
.I 8
, 0
, 0
, 80
.I 0
, 86
UNIT COST
9.85
13.5438
18
12.2778
10
10.6052
10
18.9773
UNITS
.I 700
, 735
.I 75
.I 80
, 75
, 735
, 80
, 777
INCENTIVE
30
20
18
0
30
30
20
10
700
735
700
735
780
735
735
777
64".25
1354.37
55"
1105
658
954.465
700
987.955
TOTAL POTENTIAL SALES,
737953.
TOTAL PROMOTION,
S 4700
361
362
363
364
365
366
367
368
CAPACITY
, 0
, 8
.I
0
.I
0
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CON T R I BU TE 0
P ROG R AM
BASIC
DYNPRO
36067
TITLE:
DYNAMIC PROGRAMMING MODEL
DESCRIPTlor~:
DYNPRO solves, by a standard algorithm, a somewhat general-purpose
dynamic programming model. The solution is imbedded in the inlet
state.
INSTRUCTIONS:
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
Before running, be certain that the dimension in line 9398 are at least
as large as one more than the number of values in the state variable,
e.g., if there are 20 values in the state variable, 9398 must be at least
as large as: DIM F(2l,4), G(21,4).
The user must also supply his own functions for the routines that are
unique to his application. These routines, and their locations are
described within the DYNPRO listing between lines 9012 and 9068.
Variable definitions are provided between lines 9070 and 9104, and
between 9180 and 9218. Function definitions are provided between
lines 9112 and 9176.
The user may also need to add or delete lines from the input data
routine to meet his application. This routine is from line 9468 to 9496.
DYNPRO is limited to one state variable.
DYNPRO,
page
2
RUN
GIT-SDYNPRO
9398 DIM
RUN
DYNPRO
•
'(12.~).G(12.~)
DYNAMIC PROGRAMMING MODEL
•
HOW MANY VALUES ARE THERE IN THE STATE VARIABLE?II
I' DIM-STATEMENT HAS NOT BEEN ADJUSTED TO '(LAST
THEN STOP PROGRAM AND DO SO NOW.
HOW MANY STAGES ARE
INPUT+I.~).
ETC ••
THERE?~
WHAT IS THE SALES PRICE?35
AND WHAT IS THE COST?3.
AND THE rLOW RATE 0' 'EED?I.5
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
INLET STAT!
OPT ALLOCATION
MAX RETURN
OPT OUTLET
-------_ ....
-------------------------------STAlE NUMBER.
.8
~
.116812
16.6.~1
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• 79
.115.5•
16.1115
.~15"5
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15.78.5
.~11'56
.77
.115732
15.351
.~11.69
.76
.1136.6
1~.'131
.~1'7.7
.75
.111871
1~.~966
• ~'99~7
.7~
.112755
1~.'713
.417525
.73
.119856
13.6~93
••'723'
.72
.11987.
13.a186
.~'523'
.71
.1 •• 5'3
12.8.95
• •• 3973
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12.3'25
.~'2~6'
'.65217E-'2
8.35339
.385733
.59
9.5928'1:-12
7."5"
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.58
9.25583E-12
7.58.21
.382725
.57
."2752
7.1'9.'
.379.7
• '6
8.'•••'E-I•
6.111'.
.378721
.55
•• 8.'57E-12
6.~.8'8
.37636'
• 5~
1.611'3E-I•
6 •• 7971
.37~928
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•• 5516IE-12
5.71511
.372263
• 52
1.3265IE-•
5.35611
.37.397
.51
'.275261-.
5 •••111
.367.3'
.5
7.93~I'E-"
4.'5316
.36613
.~
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Ie 57986
.3381~1
• 39
5.1.".E- •
1.3e",
.335157
.3.
• '~6"3
""~5
•
.331367
STAaE NUMBERt 3
.6
STAlE ..... E•• I
DYNPRO, page 3
.37
".35539£-12
.87569
.328 .. 32
.36
... 8.5 ..8£-12
.67 .. 725
.320\26
.35
3.29919£-12
...93731
.3217<43
.3 ..
2.9.687[-12
.3366
.316921
.33
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.28 .. 355
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1.66858[-02
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3.28753£-82
.3829 ..
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.. 97 ..83[-.3
1.22 .. 68[-83
.2988 ..8
STAGE
NUMBERt
I
.2
9.872291:-'3
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.19867
.19
3.33882£-83
-.1777 ..2
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9.75868£-'3
-.229718
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.17
3.17376£-'3
-7.SIS57£-'!
.1 '9616
.1'
1.9332 .. £-.3
-.211'52
.151927
.15
2.83712£-13
-6.72813£-12
.1"'65'
.1 ..
7.821' ..E-13
-.18586"
.139856
.13
I. 15586E- 82
-.273163
.128683
.12
3.61285E-83
-8. 55838E-12
.11956<4
• 11
9.97365£-83
-.236881
• 188811
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3.13576£-13
-7. <48"97[-12
'.96338£-12
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
DONI:
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
GCPATH
36504
TITLE:
CRITICAL PATH ANALYSIS
DESCRIPTlor~:
Each project has several characteristics that are essential for analysis
by the Critical Path Method:
(1)
The project consists of a well-defined collection of jobs (or
activities) which, when completed, mark the end of the project.
(2) The jobs may be started and stopped independently of each other,
within a given sequence. (This requirement eliminates continuousflow process activities, such as oil refining, where "jobs" or
operations necessarily follow one after another with essentially
no slack.)
(3)
The jobs are ordered - that is, they must be performed in technological sequence. (For example, the foundation of a house must be
constructed before the walls are erected.)
First of all, each job necessary for the completion of a project is listed
with a unique identifying symbol (such as a letter or number), the time
required to complete the job, and its immediate prerequisite jobs. For
convenience in graphing, and as a check on certain kinds of data errors,
the jobs may be arranged in "technological order," which means that no job
appears on the list until all of its predecessors have been listed. Technological ordering is impossible if a cycle error exists in the job data
(e.g., job a precedes b, b precedes c, and c precedes a).
Then each job is drawn on the graph as a circle, with its identifying symbol
and time appearing within the circle. Sequence relationships are indicated
by arrows connecting each circle (job) with its immediate successors, with
the arrows pointing to the latter. For convenience, all circles with no
predecessors are connected to a circle marked "Start"; likewise, all circles
with no successors are connected to a circle marked "Finish." (The "Start"
and "Finish" circles may be considered pseudo jobs of zero time length.)
Typically, the graph then depicts a number of different "arrow paths" from
Start to Finish. The time required to traverse each path is the sum of the
times associated with all jobs on the path. The critical path (or paths) is
the longest path (in time) from Start to Finish; it indicates the minimum
time necessary to complete the entire project.
SPECIAL
CONSIDERATIONS:
This critical path analysis is described by Levy, Thompson and Wiest in
liThe ABC's of the Critical Path Method" (Harvard Business Review, SeptemberOctober, 1963). This do~umentation contains excerpts from the article; permission to reprint has been granted by the publishers.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GCPATH. Page 2
I NSTRUCTI ONS :
The problem description is entered in a set of data statements beginning with line 1000. A problem
consists of a number of jobs. Each job requires a specified amount of time to complete. Some jobs
cannot be started until one or more of the other jobs have been complet~ If job ~ must be completed
before job Q is begun. we say that ~ is a predecessor of Q.
Each job must be assigned an identifying job number. There are no restrictions on these numbers
except that no two jobs may be assigned the same number. Each job can be described in a data
statement. The required information follows:
Job number
Completion time
Predecessor jobs (if any)
-1
For example:
1002 DATA 10, 30, 1. 15. -1
This describes job number 10. which requires 30 days to complete and cannot be started until jobs
number 1 and 15 have both been completed.
Jobs may be described in any order.
After entering data statements, RUN the program. The job characteristics will be repeated, followed
by the earliest completion time for the entire project. Then the program will print the earliest
and latest starting and finishing times for each job, consistent with the earliest completion time
for the entire project. Jobs on the "critical path" will also be indicated.
GCPATH, Page 3
RUN
RUN
GCPATH
HAVE YOU ENTERED YOUR DATA ALREADY1NO
ENTER THE PROJECT DESCRIPTION IN DATA STATEMENTS
BEGINNING WITH LINE IBBB
FOR EACH JOB I GIVE THE FOLLOWING DATA
~'OB NUMBER
1'IME REQUIRED TO COMPLETE
PREDECESSOR JOBS (IF ANY)
·,1
JOBS MAY BE ENTERED IN ANY ORDER
AF1'ER ENTERING YOUR DATA STATEMENTSI RE-RUN THE PROGRAM
DONE
IB0B
IB01
IB02
1003
1004
1005
DATA II1BI-l
DATA IB13B111151-1
DATA 812BIIB1301-1
DT~ATA 301401251-1
DATA 25120111151-1
DATA 151201-1
RUN
GCPATH
HAVE YOU ENTERED YOUR DATA ALREADY1YES
JOB
TIME
PREDECESSORS
I
10
8
311
2 C'
11:'_I
~I
10
3B
20
4B
2B
20
1
IB
25
1
15
3B
15
EARLIEST COMPLETION TIME FOR THE ENTIRE PROJECT
JOB
1
HI
15
8
31
25
DONE
EARLIEST
START FINISH
0
21
0
80
4B
2B
IB
5B
20
IB0
80
4B
IBB
LATEST
START FINISH
11/1
51
0
80
40
2B
20
80
20
IBB
80
4B
***
***
***
*.*
CRITICAL
CRITICAL
CRITICAL
CRITICAL
*.*
***
***
**.
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
GCPM1
36505
TITLE:
CRITICAL PATH ANALYSIS
DESCRIPTION:
The BASIC program GCPM1 can be used to perform a critical path analysis
on any complex project which is capable of being represented as a network
of individual tasks. As a practical matter, the number of jobs in the
network should not exceed 45.
The program assumes the user can provide the following information:
1.
2.
The number of jobs in the project (including a dummy terminal job
which takes no time to complete but which cannot be started until all
other jobs are completed);
For each job, a list of jobs which are its immediate successors (following jobs) and the time required on the job until each succeeding
job can be started.
INSTRUCTIONS:
See Page 2
SPECIAL
CONSIDERATIONS:
Example Problem:
The critical path analysis of the network on Page 3 is provided as a sample
run. A single critical path is found with a minimum time to completion of
33 units. Then the completion time for a branch (6,8) which is not on the
critical path is reduced from 3 units to one unit. Since the reduction is
by an amount less than the slack time for job 6, no change in the critical
path occurs. Fi na lly, jobs on the cri ti ca 1 path are "crashed" or made to
require less time. This has the effect of reducing the time to project
completion.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GCPMI, Page 2
INSTRUCTIONS
It is important that the user understand the diagramming conventions which are assumed
by this program. Figure 1 provides an example of a statement of tasks and the corresponding CPM network. The network is an activity-node diagram. That is, each node represents a different job. Job 11 is the dummy terminal node mentioned above. Note that
the program permits a succeeding job to start before its predecessor is "finished."
For example, job 3 has as successors both jobs 5 and 6. Job 5 cannot start until six
time units of work have been completed on job 3; job 6, however, can begin once five
units of work have been completed on job 3. If, for a particular problem, every job
must "finish" before a successor starts, all branch times emanating from an individual
node will be equal.
Problem information is input on DATA statements starting with line 8000. The network
must be drawn and jobs numbered in such a way that for every job, any and all succeeding
jobs have a higher job number. The first job in the network should be given the job number of one (1). An error message would be printed if, for example, job number 3 were
listed as a successor of job number 4.
Once program execution is commenced by a RUN command, the program will output:
1.
2.
3.
4.
5.
The earliest possible time each job can be started;
The latest possible time each job can be started and still complete the project
(network) in the minimum amount of time;
The minimum time in which the project can be completed;
A list of all jobs which are on the project's critical path(s); and
One critical path through the network.
There is frequently more than a single critical path. When this occurs, all jobs with
zero slack are printed but only a single path is traced. The user is left to trace the
remaining paths.
Once this information is printed the user is given the opportunity to study the effect of
changes in job times (although no jobs may be removed from or added to the original network).
If the query
HOW MANY LINKS OF THE NETWORK DO YOU WISH TO CHANGE?
is answered with a zero, '0', execution will terminate. A response of any other number
less than the total number of jobs in the network will produce the reply
FOR EACH LINK TYPE:
FIRST JOB, SECOND JOB, TIME INVOLVED.
A response of 2,3,5 would mean that job 2 must now be worked on for five time units before
job 3 can commence~ This user input overrides information supplied in the original data
statement.
Data Input
Input is through DATA statements starting with line 8000.
The first line is
8000 DATA N
where N is the number of jobs, including the dummy terminal job, in the network.
second line of input is (numbering lines by 10)
The
8010 DATA Sl, lSl, lTl, lS2, lT2, ... , MS1, MTl
where
Sl
1Sl
lTl
the number of successor jobs to job 1;
the number of the "fi rst" successor to job 1;
the time to be worked on job 1 before the "first" successor, lSl, can be started;
MSl
MTl
the number of the "last" successor to job 1; and
the time required to be worked on job 1 before the "last" successor, MS1, can be
started.
All following lines should list jobs 2, 3, .... , N and the appropriate successors and branch
working times.
GCPM1. paqe 3
Time Required Before
Beginning Successor Job
Job
Immediate Successors
3_
3
10
2
4
6
4
7
5
6
5
2
5
8
9
5
7
6
8
3
1
7
8
10
10
10
3
9
10
11
5
6
11
11
6
8
5
4
GCPM1, Page 4
RUN
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
8000
8010
8020
8030
8040
8050
8060
8070
8080
8090
8100
11
1,3.,.0
2,3,6,4,5
2,5,6,6,5
1,7,2
2,8,5,9,7
2,8,3,10,1
1,10,6
1,10,8
1,11,5
1,11,4
RUN
GCPMl
EVENT NUMBER
1
2
3
4
5
6
7
8
9
10
11
THE
THE
1
ONE
1
EARLIEST START LATEST START
o
o
0
4
10
10
5
21
16
16
15
18
7
23
21
21
23
28
29
29
33
33
TIME TO PROJECT COMPLETION IS: 33
JOBS ON THE CRITICAL PATH ARE:
> 3
> 5
> 8
> 10
> 11
CRITICAL PATH THROUGH THE NETWORK IS:
> 3
> 5
> 8
> 10
> 11
SLACK TIME
o
4
o
16
o
3
16
o
5
o
o
HOW MANY LINKS OF THE NETWORK DO YOU WISH TO CHANGE?
?1
FOR EACH LINK TYPE:FIRST JOB, SECOND JOB,TIME INVOLVED.
?6,8,1
EVENT NUMBER
1
2
3
4
5
6
7
8
9
10
11
THE
THE
1
ONE
1
EARLIEST START LATEST START
o
o
10
0
4
10
21
16
16
15
20
7
23
21
21
23
28
29
29
33
33
TIME TO PROJECT COMPLETION IS: 33
JOBS ON THE CRITICAL PATH ARE:
> 3
> 5
> 8
> 10
> 11
CRITICAL PATH THROUGH THE NETWORK IS:
> 8
> 3
> 5
> 10
> 11
5
SLACK TIME
f2I
4
f2I
16
o
5
16
f2I
5
f2I
o
GCPM1, Page 5
HOW MANY LINKS OF THE NETWORK DO YOU WISH TO CHANGE?
12
FOR EACH LINK TYPEaFIRST JOB1SECOND JOBITIME INVOLVED.
11 1 317
15 1813
EVENIT NUMBER
1
2
3
1&
5
6
7
8
9
UJ
11
THE
THE
1
ONE
1
EARLIEST START LATEST START
QJ
QJ
QJ
1
7
7
16
13
15
18
7
16
16
2QJ
23
24
24
28
28
TIME TO PROJECT COMPLETION lSI 28
JOBS ON THE CRITICAL PATH AREa
> 3
> 5
> 8
> IfIJ
> 11
CRITICAL PATH THROUGH THE NETWORK lSI
> 3
> 1QJ
> 5
> 8
> 11
5
13
12
SLACK TIME
QJ
1
QJ
11
QJ
3
11
QJ
3
QJ
fIJ
HOW MANY LINKS OF THE NETWORK DO YOU WISH TO CHANGE?
1fIJ
DONE
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CO N T R I BU TED P ROG R AM
TITLE:
DESCRIPTION:
BASIC
GINTLP
LINEAR PROGRAMMING - VARIABLES RESTRICTED TO VALUES OF ONE
36512
OR ZERO
This program will solve linear programming problems in which all variables
are restricted to values of either zero or one. An objective function of
the form:
will be minimized subject to a series of Mconstraints, each of the form:
ailX l + a i2 X2 +
And, of course:
xj = 0, 1 (for j = 1, 2, ... , N)
INSTRUCTIONS:
Input can be via DATA statements or the terminal. If data statements are
used, they should be entered beginning at line 9000, in the following
order:
number of constraints (M) < = 20
number of variables
(N) < = 40
for each constraint:
coefficient for variable 1 (ail)
coefficient for variable 2 (a i2 )
coefficient for last variable (a iN )
right-hand side (B i )
coefficients for objective function (c l ,c 2 ' ... , cN)
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GINTLP, Page 2
RUN
RUN
GINTLP
PLEASE
'T'
'0'
SOURCE
INDICATE INPUT SOURCE
FOR TERMINAL
FOR DATA STATEMENTS
--1T
NUMBER OF CONSTRAINTS --13
NUMBER OF VARIABLES --15
COEFFICIENTS FOR CONSTRAINT
VARIABLE 1
I 11
VARIABLE 2
• 1-3
VARIABLE 3
• 15
VARIABLE 1&
11
1 -II
VARIABLE 5
RIGHT-HAND SIDE a 12
COEFFICIENTS FOR CONSTRAINT
VARIABLE 1
1-2
VARIABLE 2
16
VARIABLE 3
• 1-3
VARIABLE 1&
• 1-2
VARIABLE 5
• 12
RIGHT-HAND SIDE • 18
2
COEFFICIENTS FOR CONSTRAINT
VARIABLE 1
• 18
VARIABLE 2
1 -1
VARIABLE 3
12
VARIABLE 1&
1 -1
1-1
VARIABLE 5
RIGHT-HAND SIDE • 11
3
COEFFICIENTS FOR OBJECTIVE FUNCTION -VARIABLE 1
15
VARIABLE 2
17
118
VARIABLE 3
VARIABLE 1&
• 13
VARIABLE 5
I 11
ANSWERS.
VARIABLE
1
2
3
.5
VALUE
"
1
1
"
"
MINIMUM VALUE OF THE OBJECTIVE FUNCTION •
DONE
17
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
GLP
TITLE:
LINEAR PROGRAMMING
DESCRIPTION:
This program will solve a standard linear programming problem of modest
size. Up to 28 constraints may be used, and up to 45 variables. Cases
in which the number of variables ~ the number of constraints exceeds
40 may, however, prove too large.
INSTRUCTIONS:
The problem description must be entered in data statements beginning with
line 2000. For each non-zero coefficient in a constraint, the following
information is required:
Constraint number, variable number, coefficient
36516
For each coefficient in the objective function, the following information
is required:
"OBJ," variable number, coefficient
For each constraint, the following information is entered:
a)
If the value must be less than or equal to the right-hand-side
value:
constraint-number, "<=", right-hand-side value
b)
If the value must be egual to the right-hand-side value:
constraint number, ~, right-hand-side value
c)
If the value must be greater than or equal to the right-hand-side
value:
constraint number, ">=", right-hand-side value
Each group of three items must be entered in order (as described), but
groups may be entered in any order.
After entering the data statements, RUN the program. It will ask you if
you want to MAXIMIZE or MINIMIZE the value of the objective function.
Then it will request the number of variables and the number of constraints.
The output includes information on the optimal value of the objective
function, the values of the variables in the solution, the constraints that
were binding (and their shadow-prices), and the constraints that were slack
(and the amounts by which they were slack). Most of the information is
self-explanatory. The major exception is the set of shadow-prices. Roughly,
a shadow-price indicates the amount by which the objective function would
change if the constraint in question were changed by one unit. This provides
some information concerning the desirability of changing constraints and
shows how sensitive the results are to the particular assumptions employed.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GLP, Page 2
RUN
2111
2111
2112
2193
2914
2115
2916
21"7
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
11112
11213
2 1 115
21214
"OBJ"111311
"OBJ"121361
11"<-·,1119
2,"<=",2111
RUN
GLP
DO YOU WANT TO MAXIMIZE OR MINIMIZE?MAXIMIZE
NUMBER OF VARIABLES?2
NUMBER OF CONSTRAINTS?2
SOLUTION
VALUE OF THE OBJECTIVE
s
137143.
VARIABLES
-= •• ==-: •• == ••• ==
VARIABLE
VALUE
142.857
285.714
2
1
BINDING CONSTRAINTS
== •••••••• == ••••• =.==.=== •• =
CONSTRAINT
SHADOW-PRICE
85.7143
25.7143
1
2
SLACK CONSTRAINTS
=== ••• : •••••••••••••
CONSTRAINT
DONE
SLACK
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
GLPSAl
TITLE:
LINEAR PROGRAMMING TWO-PHASE SIMPLEX METHOD
DESCRIPTIOI\!:
This program solves a linear programming problem via the two-pha~e simplex
method and permits the user to perform sensitivity and parametric analyses
on the right-hand side and cost coefficients. The program does not provide
the opportunity for post-optimality analysis of the technological coefficients. The data for the problem matrix is provided in a series of
DATA statements while user prompts ~fter the program start determine the
nature of the problem (maximization or minimization, number of variables
and constraints, and the direction of constraint inequalities). The program
will solve a problem having 28 or fewer constraints and for which the sum
of variables, all constraints and surplus variables (> inequalities) is less
than or equal to 69.
-
INSTRUCTIONS:
See Page 2
ACKNOWLE[)GEMENTS:
Graduate School of Business
Stanford University
36517
GLPSA1, Page 2
INSTRUCTIONS:
Input of the Problem Matrix
The program will solve problems organized in either of the following two forms:
I~
minimize
E
j=l
c ' X.
J
J
N
subject to
E a Xj -< b.1
j=l ij
N
( 1)
E
a ij X.
J
j=l
1 ,2. ... • L
bi
L+l . . . . . L+E
b.1
L+E+ 1 •...• L+E+G
I~
E a
j=l ij
X~ >
J -
Xj -> 0
j
1. 2. ... • N
or
I~
maximize
E c ij X.
J
j=l
I~
subject to
Ea .. X. < b.
j= 1 1J J - 1
1 .2 •...• L
I~
E a .. X.
j=l lJ J
(2 )
b.
L + 1. ... • L+E
1
I~
E a .. X. > b.
j=l lJ J - 1
X. -> 0
J
L+E +1. ... • L+E+G
j
1.2 •••.• N
where
N
the number of primal variables in the original problem.
L
the number of constraints with a.::.. inequality.
E = the number of contraints which hold with equality. and
G = the number of constraints with a
~
i nequa 1ity.
Note that regardless of whether the problem requires maximization or minimization. the problem contraint
matrix is organized with the Type I «) inequalities first, equalities second, and Type II (» inequalities
last. This problem organization also-requires that all bi be greater than or equal to zero.- In the
event a given b. is negative, the corresponding constraint can be multiplied by -1 and the inequality
reversed to conform with the program requirements.
GLPSA1, page 3
INSTRUCTIONS: (continued)
Input of the Problem Matrix (continued)
The DATA statements used to input the problem matrix should be numbered consecutively,
starting with statement number 5000. The largest allowable statement number is 9998.
The aij elements should be entered first, constraint row by contraint row. Then the
Cj coefficients should be entered, followed by the right-hand side or bi elements. The
resulting list of data statements should appear as follows:
5000 DATA
5010 DATA
DATA
DATA
Running the Program
After all DATA statements are entered, type the statement
RUN
to commence execution.
TYPE:
III
The program will then respond with
FOR MAXIMIZATION OR
1-11
FOR MINIMIZATION.
Enter the appropriate answer and then press the carriage return so that execution can
continue.
The next prompt will be
TYPE:
THE NUMBER OF CONSTRAINTS, NUMBER OF VARIABLES.
To answer this query enter the total number of constraints (M = L + E + G) and the
number of problem variables (N); these two numbers should be separated by a comma.
Once the carriage has been returned after this entry, d final query will be printed.
TYPE:
NUMBER OF LESS THAN, EQUAL, GREATER THAN CONSTRAINTS.
To answer this prompt enter the values of L, E, and G, all separdted by commas, and
return the carriage.
The program will then respond with a list of original problem variable numbers
(YOUR VARIABLES = 1,2, ... , N), the numbers of all slack or surplus variables added
to the inequality constraints, and the numbers of all artificial variables added so
that an initial feasible solut~on can be found. The program then proceeds to solve
the problem. If no feasible solution can be found for the original problem, the
following message will be printed.
THE PROBLEM HAS NO FEASIBLE SOLUTION;
execution is then terminated. If a feasible solution exists but an optimal solution
cannot be found due to the absence of a convex feasible region, the message
THE SOLUTION IS UNBOUNDED
will be printed and execution terminated.
If an optimal solution is located, the optimal values of the primal variables, dual
variables, and the objective function are printed. The zero values of all non-basic
primal and dual variables are not printed.
GLPSA1,
pa~~
4
INSTRUCTIONS: (conti nued)
Right-Hand Side Rangin[
Once the optimal solution is printed, the opportunity to do sensitivity analysis on this solution
is announced by the message:
NOW YOU CAN DO SENSITIVITY ANALYSIS ON THE RIGHT HAND SIDE.
For any set, I, of right side bi elements, the associated constraints
N
L
j=l
a .. X. ~ b. (for i in 1)
1J J 1
can be changed to
N
L
j=l
a .. X.
1
+ 6
< O.
J J -
1
(The
< constraint is used for illustration) The program then finds the upper and lower bounds on
These bounds indicate the amount by which each of the b. (i in the set I) can be increased or
decreased so that the current optimal basis remains feasibl~. This basis is no longer feasible
when one of the basic variables becomes negative. The basic variables which goes to zero when 6
reaches its upper and lower bounds are also identified by the program.
6.
To perform the analysis the program asks
HOW MANY CAPACITIES DO YOU WISH TO CHANGE?
A response of ~ sends the program to another section where sensitivity analysis of the cost coefficients is performed. Right-hand side ranging can be performed on from one to M constraints.
The next query,
WHICH CAPACITIES DO YOU WISH TO CHANGE?
requires a specification of the index numbers (i = 1,2, ... , M) of the b. to be included in a
ranging analysis. If the number of a constraint is entered more than onte, the 6 added to b. will
be multiplied by the number of times the constraint is entered. For example, if the first c6nstraint
is entered twice, the result will be
I~
La . . X. <
j=l lJ J -
b + 26
l
Thus, in determining a bound on
entered only once.
6,
bl will increase twice as fast as the bi of a constraint which is
The program repeatedly offers the opportunity to perform righthand side analyses until a zero
response is given to the original query.
Cost Coefficient Ranging
The opportunity to perform a ranging analysis on the cj coefficients is announced by
YOU MAY NOW DO SENSITIVITY ANALYSIS ON THE COST FACTORS.
For a selected set of variables, J, in the original objective function
N
L
j=l
c.X.
J J
is changed to
N
L
c.X. + 6L X "
j=l J J
J
That is, each selected coefficient c. becomes c. + 6. The program then determines the upper and
lower bounds on 6 such that the original optimai solution remains optimal. This determines the
amount by which each c. in the set J can be increased or decreased without changing anything but
the objective functionJvalue of the optimal solution.
GLPSA1, page 5
INSTRUCTIONS:
(continued)
The program queries used to perform this analysis are
HOW MANY COSTS DO YOU WISH TO CHANGE?
and
WHICH COSTS DO YOU WISH TO CHANGE?
Entries are provided in the same manner as for right-side ranging. Entry of a variable
index number more than a single time has the same effect on the rate of that variable's
increase and decrease as is the case in the right side analysis.
A zero response to the initial cost change query sends program control to sections to
perform parametrix analysis of right-hand side and cost coefficients.
Parametric Analysis -- Right-Hand Side
The opportunity to perform a complete parametric analysis of one or more right-hand
side elements, bi , is announced by
YOU MAY NOW DO PARAMETRIC ANALYSIS ON THE RIGHT HAND SIDE.
Recall that after slack and surplus variables were added, the original problem had
constraints of the form
N
Ea .• X.=b
j=l
1J
J
i
i
= 1,
... , M.
Parametric analysis allows us to select a set, I, of b. elements and change them to
bi + 6. Then 6 is increased, or decreased (an option ~ot explicitly available or
needed in right side ranging), up to the point where a basis change occurs. The
new optimal solution is printed at this point, and a is allowed to continue in its
change in value over several optimal bases until the solution is no longer bounded
or until the problem becomes infeasible.
The program will ask
HOW MANY CAPACITIES DO YOU WISH TO CHANGE?
A zero response stops execution. As with previous queries, if analysis is to be
done, enter the number of constraints to be used. The inquiry
WHICH CAPACITIES DO YOU WISH TO CHANGE?
is answered with the numbers of the constraints being analyzed. If the direction
of change desired is a decrease in b., i.e., b. - 6, precede the constraint number
with a minus sign. Entering a consttaint's nu~ber more than once causes the rate
of change for a to be increased by a multiple of the times a number is entered.
Once the response to the above question is entered, the analysis will be performed
and printed. There are then four possible options open to the program user:
1.
A parametric analysis can be performed on the same constraints
as were considered in the previous analysis but the direction
of change in the b~ will be reversed. The starting point for
this analysis will be the final optimal solution reached in the
preceding parametric analysis, not the original optimal basis and
original right hand side.
2.
A parametric analysis may be performed on a new set of capacities
using as a starting point the basis and right hand side reached
at the conclusion of the previous parametric analysis.
3.
A parametric analysis can be performed on a new set of capacities
using the original right side and optimal basis. (This requires
a resolving of the problem.)
4.
Execution can be terminated.
GLPSA1, page 6
INSTRUCTIONS: (continued)
To select an option, the following prompt should be answered.
TYPE:
A 11 TO REVERSE THE PREVIOUS PARAMETRIC ANALYSIS, A 121 TO START ANOTHER
PARAMETRIC ANALYSIS FROM THIS POINT, OR A 13 1 TO DO ANOTHER PARAMETRIC
ANALYSIS ON THE ORIGINAL CAPACITIES. TYPE A 10 1 TO QUIT.
I
A response of zero stops execution. A 1 answer performs the reversed analysis and returns with the
above prompt; a 2 or a 3 response will produce the prompts
YOU MAY NOW DO PARAMETRIC ANALYSIS ON THE RIGHT HAND SIDE HOW MANY CAPACITIES DO
YOU WISH TO CHANGE?
Respond in the same form as the previous such query and the analysis will be performed.
will be to the four-option point in the program.
RUN
5000 DATA 4 1917110
5010 DT~ATA 11113140
5020 DATA 400016000
5030 DATA 12120118 140
RUN
GLPSA1
TYPE. 'I' FOR MAXIMIZATIONI OR '-I' FOR MINIMIZATION. 11
TYPE. THE NUMBER OF CONSTRAINTS 1 NUMBER OF VARIABLES. 1214
TYPE. NUMBER OF LESS THANIEQUALIGREATER THAN CONSTRAINTS. 12.~1010
YOUR VARIABLES 1
SLACK VARIABLES 5
THROUGH 4
THROUGH 6
ANSWERS.
PRIMAL VARIABLES:
VARIABLE
VALUE
1
666.667
4
133.333
DUAL VARIABLES.
VARIABLE
VALUE
1
2.93333
2
.266667
VALUE OF OBJECTIVE FUNCTION
13333.3
YOU CAN NOW DO SENSITIVITY ANALYSIS ON THE RIGHT HAND SIDE.
HOW MANY CAPACITIES DO YOU WISH TO CHANGE? 1
WHICH CAPACITIES DO YOU WISH TO CHANGE?l
THE BOUND ON THE DECREASE IS 2500.
AT WHICH POINT VARIABLE
GOES TO ZERO.
THE BOUND ON THE INCREASE IS 20000
AT WHICH POINT VARIABLE 4
GOES TO ZERO.
HOW MANY CAPACITIES DO YOU WISH TO CHANGE?0
YOU MAY NOW DO SENSITIVITY ANALYSIS ON THE COST FACTORS.
HOW MANY COSTS DO YOU WISH TO CHANGE?2
WHICH COSTS DO YOU WISH TO CHANGE?2 1 3
THE BOUND ON THE INCREASE IS 3.33333
AT THIS POINT VARIABLE 3
CAN ENTER THE BASIS.VARIABLE
WILL LEAVE THE BASIS.
THE DECREASE IS NOT BOUNDED.
HOW MANY COSTS DO YOU WISH TO CHANGE?0
YOU CAN NOW DO PARAMETRIC ANALYSIS ON THE RIGHT HAND SIDE.
Return
GLPSAl
HOW MANY CAPACITIES DO YOU WISH TO CHANGE?l
WHICH CAPACITIES DO YOU WISH TO CHANGE?1
THE N:EXT BOUND ON THE CHANGE IS 28'8S
• VARIABLE 1&
WILL GO TO ZERO.VARIABLE 2
WILL ENTER THE BASIS.
THE N'EW OPTIMAL SOLUTION lSI
ANSWERS I
PRIMAL VARIABLES.
VARIABLE
VALUE
1
6"00
2
0
DUAL VARIABLES.
VARIABLE
VALUE
1
1.6
2
5.6
VALUE, OF OBJECTIVE FUNCTION
72S00.
THE NEXT BOUND ON THE CHANGE IS
WILL GO TO ZERO.VARIABLE 5
THE NEW OPTIMAL SOLUTION IS:
300"0.
• VARIABLE
WILL ENTER THE BASIS.
ANSWERS.
PRIMAL VARIABLES.
VARIABLE
VALUE
2
6""0.
5
0
DUAL VARIABLES.
VARIABLE
VALUE
1
0
2
20.
VALUE OF OBJECTIVE FUNCTION
THEru~
12S000.
IS NO FURTHER BOUND ON THE CHANGE.
TYPE:1 A '1' TO REVERSE THE PREVIOUS PARAMETRIC ANALYSIS"
A'2' TO START ANOTHER PARAMETRIC ANALYSIS AT THIS POINT"
OR A '3' TO DO ANOTHER PARAMETRIC ANALYSIS ON THE
ORIGINAL CAPACITIES. TYPE A '0' TO QUIT.
?0
DONE
t
Page 7
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
GNETFL
36529
TITLE:
NETWORK FLOW DETERMINATION (MAX/MIN)
DESCRIPTIO''':
This program finds the minimum-cost feasible flow through a network. The
network is made up of nodes and arcs. Each arc runs from one node to
another, and can handle flows within a specified range:--Each unit of flow
along a given arc has an associated cost. Finally, the total flow into a
node must equal the total flow out of the node. Given the description of
such a network, the program will find a set of flows that meets all the requirements at either minimum or maximum total cost.
INSTRUCTIONS:
Each node is assigned an arbitrary number between 1 and 99.
described by giving the following information for each arc:
The network is
From node number
To node number
Cost per unit of flow
Upper bound (maximum flow)
Lower bound (minimum flow)
For example:
1000 DATA 20,30,3,10,40
This describes an arc from node 20 to node 30; each unit of flow along the
arc adds 3 units to total cost; and the flow must be between 10 and 40 units
inclusive.
All numbers must be integers (whole numbers).
Data should be entered in data statements, beginning with line 1000.
The program has been modified to allow maximization. If this option is
specified, all cost figures are multipled by -1 before processing begins,
and the total cost figure is multiplied by -1 prior to output. Node prices
(the values of the dual variables) are not altered prior to output.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GNETFL, Page 2
RUN
IfUJ0 DATA 20 .. 30 .. 0 .. 20 .. 20
1001 DATA 21 .. 30 .. 0 .. 25 .. 25
1002 DATA 22 .. 30 .. 0 .. 30 .. 30
1003 DATA 23 .. 30 .. 0 .. 15 .. 15
10011 DATA 30 .. 1 .. 0 .. 10111 .. 0
1005 DATA 1 .. 1111 .. 0 .. 15 .. 0
1006 DATA 1 .. 11,0,30 .. 0
1007 DATA 1 .. 12 .. 0 .. 15 .. 0
1008 DATA 1 .. 13 .. 0 .. 110 .. 0
1009 DATA 10 .. 20 .. 11 .. 100,111
1010 DATA 10,21 .. 5 .. 100,0
1011 DATA 10,22 .. 8 .. 100 .. 0
111112 DT·ATA 10,23 .. 20 .. 11110 .. 0
1013 DATA 11 .. 2111 .. 22 .. 100 .. 111
10111 DATA 11,21 .. 20 .. 10111 .. 0
1015 DATA 11 .. 22,111 .. 100,111
1016 DATA 11 .. 23,11 .. 11110,0
1017 DATA 12 .. 20 .... ·3 .. 100,0
1018 DATA 12 .. 21 .. 12,1111111 .. 0
1019 DATA 12,22 .. 5 .. 100,0
1020 DATA 12,23,17 .. 10111 .. 111
1021 DATA 13,20 .. 8 .. 100,0
1022 DATA 13 .. 21 .. 111 .. 100 .. 0
1023 DATA 13 .. 22,6,10111 .. 0
10211 DATA 13,23 .. 29 .. 100 .. 0
RUN
GNETFL
ARCS
FROM
TO
21
21
22
23
30
1
1
1
1
10
10
10
10
11
31
30
30
30
1
1111
11
12
13
20
21
22
23
20
21
22
23
20
21
22
23
2111
21
22
23
11
11
11
12
12
12
12
13
13
13
13
COST
0
111
111
0
111
0
0
0
0
1&
5
8
20
22
20
III
II
3
12
5
17
8
III
6
29
UPPER
21
25
30
15
100
15
30
15
110
100
10111
100
11110
100
100
11110
11110
100
10111
100
10111
100
100
10111
100
LOWER
20
25
30
15
111
0
111
0
0
0
111
111
0
DO YOU WANT TO MAXIMIZE OR HINIHIZE?MINIMIZE
GNETFL, Page 3
.. ------
SOLUTION
~
FROM
2"1
~!
~~2
23
:l9
I,
I,
1,
1
1,0
1.0
10
10
11
11
I, 1
11
1,2
12
12
12
13
13
13
13
TO
FLOW
3"
39
39
39
1
10
11
12
13
20
21
22
23
20
21
22
23
21
21
22
23
20
21
22
23
20
25
39
15
99
15
20
15
"9
9
15
0
0
0
5
0
15
15
0
0
0
5
5
30
0
NCIN-ZERO NODE PRICES
-------------------NODE
PRICE
10
12
13
20
2: 1
2:2
2:3
15
11
6
1"
20
12
"
MINIMUM TOTAL COST
=
570
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
GSSS
TITLE:
SMALL SYSTEMS SIMULATOR
DESCRIPTION:
GSSS (Small Systems Simulator) allows the user to simulate the behavior
of certain types of systems. Almost anything can move through a simulated
system. The term item is used in GSSS to denote such an entity. Each
item is created, moved through the system,then destroyed.
INSTRUCTIONS:
See Page 2
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
36552
GSSS, Page 2
INSTRUCTIONS:
The system to be simulated is described by a set of blocks.
1 and 49. There are six different kinds of blocks. -----
Each must be given a number between
The CREATE block creates items at various intervals. Associated with a create block is a mean
time and a spread. If the spread is positive, the time between creations is drawn randomly from
a rectangular distribution of values between (mean - spread) and (mean + spread). If the spread
is negative. the time between creations is drawn randomly from a normal distribution with the
specified mean and a standard deviation equal to the absolute value of the spread. In either case,
values below zero are considered to equal zero when drawn. After creation. an item is moved to
the next block associated with the CREATE block.
The BRANCH block routes an item to one of two next-blocks. depending on the value of a random
number drawn from a rectangular distribution between zero and one. Associated with the BRANCH
is a probability. If the random number is smaller than this value. the item is routed to nextblock-A. Otherwise, it is routed to next-b10ck-B.
The ADVANCE block simulates any activity that requires time. The actual time is drawn randomly,
based on the mean and spread associated with the block. If the spread is positive, a rectangular
distribution is used. otherwise a normal distribution is used. Procedures are the same as those
used for a CREATE block.
Most simulations involve facilities of limited capacity. GSSS allows the use of up to 49 facilities.
numbered 1 to 49. Each facility has a capacity (if none is given, the capacity is assumed to equal 1).
The number of items ~ a facility at any time must be less than or equal to its capacity.
facility is full, no item will be allowed to enter it until another leaves.
If a
The ENTER block represents the act of entering a facility if it is available (not full). waiting
up to some maximum time limit if it is not available. and going elsewhere if the maximum waiting
time is exceeded. A facility number is associated with the ENTER block. If it is available. t~e
item will enter it and go to next-b10ck-A. If the facility is not available. the item will remain
in the ENTER block. When the-facility becomes available, the item will then enter it and go on
to next-block-A. However. if the delay exceeds the maximum waiting time associated with the ENTER
block, the item will not enter the facility. and will instead go on to next-block-B.
Once in a facility, an item remains until it passes through a LEAVE block.
When an item has passed through the simulated system it has served its purpose. Since only 100
items can be in the entire system at anyone time. it is essential to route them to a DESTROY
block when they are no longer needed.
A diagramatic representation of a simple system is shown on the following page.
each block is shown immediately above it.
The number of
The description of the system to be simulated should be entered in DATA statements beginning with
line 9000. For example:
9000 DATA 1. "CREATE". 5. 2. 2
This describes block number 1 -- a CREATE block with a mean time of 5 and a spread of 2.
"2" indicates the number of the next block.
The formats are:
block number. "CREATE" • mean. spread. next block
block number, "DESTROY"
block number, "BRANCH", probability. Next-block-A, Next-block-B
block number, "ENTER", facil ity, wait time, Next-block-A, Next-block-B
block number, "LEAVE". facil ity, next block
block number, "ADVANCE", mean. spread, next block
The capacity of a facility is given in one line.
For example:
9014 DATA 1, "FACILITY". 2
This indicates that facility 1 has a capacity of 2 items.
The final
GSSS, Page 3
INSTRUCTIONS:
(continued)
QJ
ADVANCE
~I
f2l
BRANCH
6 ~ 3
I!'
\
f4l
ADVANCE
15 :t. 5
f7l
5
ENTER
fac. 1
wait 10
~
ADVANCE
3 + 1
~
oI
. LEAVE
fac. 1
f6l
ENTER
fac. 1
LEAVE
fac. 1
8
DESTRO
~
8
~
DESTRO
Only one more piece of information is required: the number of items to be moved through the system
during the simulation. This is also given in one line. For example:
9015 DATA 50,
II
ITEMS
II
This indicates that 50 items are to be moved through the system during the simulation.
GSSS, Page 4
RUN
9999
9091
9902
9993
9994
9905
9996
9997
9998
9999
9919
99 II
9912
9913
9914
9915
RUN
GSSS
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
l,"CREATE",S,2,2
2,·eBRANCH",. 3" 3,4
3" "ADVANCE"" 6, 3,,5
4,"ADVANCE",15,5,6
5,,"ENTER",1,19,7,13
6,,"ENTER",1,15,,8,14
7,"ADVANCE"~3,1,9
8,"ADVANCE",7,2,19
9,"LEAVE",1,11
UJ,"LEAVE"" 1,12
II,"DESTROY"
12,"DESTROY"
13,"DESTROY"
14,"DESTROY"
1,"FACILITY",2
50,"ITEMS"
SYSTEM DESCRIPTION
-----------------1
2
3
4
5
6
7
8
9
19
11
12
13
14
1
59
CREATE
BRANCH
ADVANCE
ADVANCE
ENTER
ENTER
ADVANCE
ADVANCE
LEAVE
LEAVE
DESTROY
DESTROY
DESTROY
DESTROY
FACILITY
ITEMS
5
.3
6
15
I
I
3
7
I
1
2
3
5
10
IS
1
2
11
12
2
3
5
6
7
8
4
13
14
9
19
2
SIMULATION RESULTS
, ENTERED
BLOCK ,
-------
---------
1
2
3
4
5
6
7
8
9
19
II
12
13
14
FACILITY
54
14
49
14
36
14
36
14
36
14
36
9
9
,
----------
SIMULATED TIME
DONE
CAPACITY
-------2
=
271.843
, LEFT
, REMAINING
54
54
14
36
14
36
14
36
14
36
CURRENT , OF
OCCUPANTS
AVERAGE , OF
OCCUPANTS
1.12186
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
GVOTE
TITLE:
COMMITTEE CHOICE ANALYSIS
DESCRIPTION:
This program uses simulation to estimate the probability that a committee
of Mmembers will have transitive preferences among N mutually exclusive
alternatives when using majority votes in pairwise comparisons. Each member is assumed to have transitive preferences. This is accomplished by
drawing random numbers to represent the "score" assigned to each alternative, then assuming that each member always votes for the member of a
pair with the largest "score." Each pair is subjected to vote using the
set of scores drawn for the trial, then the votes are analyzed to determine whether or not they are transitive.
INSTRUCTIONS:
The procedure used to check transitivity of committee choices is as follows.
First, matrix V is filled in with the results of the vote. V (row, column)
= the excess of the votes in favor of the row over the column. Values along
the diagonal are set to zero; those below the diagonal simply equal -1 times
the corresponding element above (i.e., Vji = -Vij). Next, the numbers are
changed to: (-1) if negative, (+1) if positive and the row sums calculated.
The sum for a row is the value of (number of inferior alternatives - number
of superior alternatives). Let Ci represent the sum for row (alternative) i.
Then the alternatives rank (Ri) is simply:
N+ 1
36550
C
Ri = - 2 - - 2"
Since the committee is assumed to have an odd number of members, no one of
whom is indifferent between any two alternatives, if the committee's preferences are transitive, no two alternatives will have the same rank. Thus
no two will have the same value of Ci. To check for transitivity then, one
merely checks to see if any two values of Ci are the same.
The program allows the user to specify the committee size, the number of alternatives to be considered, and the number of trials to be run.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GVOTE, Page 2
RUN
RUN
GVOTE
DO YOU WANT INSTRUCTIONS1YES
THIS PROGRAM SIMULATES THE VOTING OF A COMMITTEE
EACH MEMBER IS ASSUMED TO HAVE TRANSITIVE PREFERENCES
AMONG A NUMBER OF ALTERNATIVESI ONE OF WHICH
IS TO BE CHOSEN BY MAJORITY VOTE
THE NUMBER OF COMMITTEE MEMBERS SHOULD BE ODD. SO
THERE ARE NO TIES. THUS. GIVEN TWO ALTERNATIVES.
THE COMMITTEE WILL ALWAYS 'PREFER' ONE OVER THE OTHER
YOU MAY CHOOSE THE NUMBER OF ALTERNATIVES AND THE
NUMBER OF MEMBERS
YOU MAY ALSO CHOOSE THE NUMBER OF 'TRIALS'
YOU MAY THINK OF EACH TRIAL AS A DIFFERENT COMMITTEE
VOTING ON THE SAME SET OF ALTERNATIVES.
ALTERNATIVELY I YOU MAY THINK OF EACH TRIAL AS THE
SAME COMMITTEE VOTING ON A DIFFERENT SET OF
ALTERNATIVES.
FOR EACH TRIAL. THE PROGRAM WILL DETERMINE IF THE
COMMITTEE'S 'PREFERENCES' ARE TRANSITIVE.
IF SO -- A '1' WILL BE PRINTED
lF NOT -- A '*' WILL BE PRINTED
AT THE ENOl THE PERCENT OF THE TRIALS IN WHICH THE
COMMITTEE'S PREFERENCES WERE TRANSITIVE WILL BE PRINTED
HOW MANY ALTERNATIVES «=29)15
HOW MANY MEMBERS «=199)13
HOW MANY TRIALS?199
*TTT*T**T**TTT*TT*T*TTTTT*TTTTTTTT*TT*TT*T*T*T*TT*TTTTTTTT**TTTTT***TTTT
TTT**1T*T*T*TTTTT1T*TT*TTTT*
PERCENT TRANSITIVE
DONE
c
79
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
LINPRO
36068
TITLE:
LINEAR PROGRAMMING MODEL
DESCRIPTION:
Given A=(A(I,J)), B=(B(l) •...• B(M)). and C=(N)), the standard linear programming problem is to find any or all non-negative X=(X(l), ... ,X(N)) which
maximize, (or minimize), the matrix product C*X. subject to the condition
A*X<=B. C*X+C(N+l) is called the objective function, and the inequalities
contained in A*X<=B, (or A*X>=B), are called the linear constraints.
LINPRO will generate its own slack and artificial variables, print a matrix
tableau of the initial problem, the basis after each iteration, the answers
for the variables and dual variables, the value of the objective function
and the final tableau.
INSTRUCTIONS:
First, arrange your constraints so that the 'less than' inequalities precede
the strict equalities which, in turn, precede the 'greater than' inequalities.
Do not include coefficients for slack, surplus, or artificial variables.
The program will ask you to:
Input whether you wish to see the pivot steps and simplex tableaux. Input
whether you are maximizing the objective function (as you put it in data),
or minimizin9 it. Input the number of constraints and variables in your
program. Input the number of 'less than inequalities, strict equalities
and 'greater than' inequalities. Input the constraints and objective
function. Remember to always type zeros when applicable.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
The A = (Aij) matrix is restricted to 30 X 50 (line 60). This program
uses the extended tableau method. For a large program the user should
use a program which uses the condensed tableau method.
Donald E. Ramirez
University of Virginia
LINPRO, Page 2
RUN
RUN
LINPRO
A PROGRAM TO SOLVE LINEAR PROGRAMS WITH CONSTRAINTS OF THE FORM
A*X<=B. A*X=B. AND A*X~=B WHERE B IS A NONNEGATIVE VECTOR.
DO YOU WISH TO SEE THE PIVOT STEPS CY OR N)?Y
DO YOU WISH TO SEE THE SIMPLEX TABLEAUX CY OR N)?N
IF MAX. TYPE 'I'J IF' MIN. TYPE '-I'?I
TYPE: NUMBER OF CONSTRAINTS.
TYPEr NO. OF LESS THANS. NO.
ENTER THE SIMPLEX TABLEAU IN
EQUALITIES. >= INEQUALITIES.
?1.2.3
NUMBER OF VARIABLES?2.2
OF' EQUALITIES. NO. OF' GREATER
THE ORDER: <= INEQUALITIES.
OBJECTIVE FUNCTION.
THANS?I.~.I
??2.3.~
??3.~.5
YOUR VARIABLES I
THROUGH 2
SURPLUS VARIA8~ES 3
THROUGH 3
SLAC~ VARIABLES ~
THROUGH ~
ARTIFICIAL VARIABLES 5
THROUGH 5
BASIS BEFORE ITERATION
VARIABLE
VALUE
~
3
5
~
PIVOT COORDINATE IS (2
BASIS BEFORE ITERATION 2
VALUE
VARIABLE
~
.333333
2
1.33333
PIVOT COORDINATE IS ( I
BASIS BEFORE ITERATION 3
VALUE
VARIABLE
3
.5
2
1.5
PIVOT COORDINATE IS (2
ANSWERS:
VARJ ABLE
VAI.UE
3
2
I
• 2
• 3
•
I
3
DUAL VARIABLES:
COLUMN
VALUE
3
~
~
3
OBJECTIVE FUNCTION VALUE
IN 3
ITERATIONS
I~.
DONE
RUN
L1NPRO
A PROGRAM TO SOLVE LINEAR PROGRAMS WI,TH CONSTRAINTS OF THE FORM
A*X<=B. A*X=B. AND A*X~=B WHERE B IS A NONNEGATIVE VECTOR.
DO YOU WISH TO SEE THE PIVOT STEPS CY OR N)?N
DO YOU WISH TO SEE THE SIMPLEX TABLEAUX (Y OR N)?N
IF MAX. TYPE 'I'J
IF MIN. TYPE '-I'?I
TYPE: NUMBER OF CONSTRAINTS.
TYPE: NO. OF LESS THANS. NO.
ENTER THE SIMPLEX TABLEAU IN
EQUALITIES. >= INEQUALITIES.
?1.2.3.~.5
??2.3.4.5.6
?13.4.5.6.7
??4.5.6.7.8
??I.I.l.I.0
NUMBER OF VARIABLES?~.~
OF EQUALITIES. NO. OF GREATER THANS?I.I.2
THE ORDER: <= INEQUALITIES.
OBJECTIVE FUNCTION.
LINPRO, Page 3
YOUR VAR I ABLES 1
THROUGH <4
SURPLUS VARIABLES 5
THROUGH 6
SLACK VARIABLES 1
THROUGH 1
ARTIFICIAL VARIABLES 8
THROUGH 10
ANSWERS:
VARIABLE
VALUE
1
2.
5
2.
6
1
••
3.
DUAL VARIABLES:
COLUMN
VALUE
5
0
6
0
1
0
8
.5
OBJECTIVE FUNCTION VALUE = 3.
IN.
ITERATIONS
DONE
RUN
LINPRO
A PROGRAM TO SOLVE
A*X<=B_ A*X=B_ AND
DO YOU WISH TO SEE
DO YOU WISH TO SEE
LINEAR PROGRAMS WITH CONSTRAINTS OF THE FORM
A*X>=B WHERE B IS A NONNEGATIVE VECTOR.
THE PIVOT STEPS (Y OR N)7N
THE SIMPLEX TABLEAUX CY OR N)7Y
IF MAX_ TYPE 'I'J IF MIN_ TYPE '-1'71
TYPE: NUMBER OF CONSTRAINTS_
TYPE: NO. OF LESS THANS_ NO.
ENTER THE SIMPLEX TABLEAU IN
EQUALITIES_ >= INEQUALITIES,
71_2_3_._5
712_3_ <4_ 5_6
113_<4_5_6_1
77 •• 5_6_1.8
771_1_1_1_0
NUMBER OF VARIABLES7<4.~
OF EQUALITIES_ NO. OF GREATER THANS?I_I_2
THE ORDER: <= INEQUALITIES,
OBJECTIVE FUNCTION.
YOUR VARIABLES 1
THROUGH <4
SURPLUS VARIABLES 5
THROUGH 6
SLAC~ VARIABLES 7
THROUGH 1
ARTIFICIAL VARIABLES 8
THROUGH 10
TABLEAU AFTER
2
0
3
ITERATIONS
<400
5
o
o
5
6
-I
o
5
6
1
o
-I
- 1
- I
- 1
o
-9
-12
-15
-18
2
3
3
-1
o
o
o
o
o
o
o
o
o
o
o
o
o
6
o
1
8
o
o
o
-21
LINPRO, Page 4
TABLEAU AF'TER
o
.5
fJ
"
0
.5
-1
~
ITERATIONS
J•
1.5
1•
1.5
o
~.
"
"
3.
1•
- 1
(/J
I
1.5
3.
"
""
2
.5
3.
(/J
(/J
"
ANSWERS:
VARIABLE
(/J
(/J
"
"
"
(/J
-.5
"
"
1.5
2.
"
(/J
"
.5
"
(/J
"
(/J
.5
"
"
"
VALUE
2.
2.
4.
1
5
6
1
3.
DUAL VAR I ABLES:
COLUMN
VALUE
5
6
1
"
"
"
8
.5
OBJECTIVE F'UNCTION VALUE
IN ~
ITERATIONS
3.
DONE
RUN
LINPRO
A PROGRAM TO SOLVE
A*X<=B. A*X=B. AND
DO YOU WISH TO SEE
DO YOU WISH TO SEE
??Y
LINEAR PROGRAMS WITH CONSTRAINTS OF' THE F'ORM
A*X>=B WHERE B IS A NONNEGATIVE VEC10R.
THE PIVOT STEPS CY OR N)?Y
THE SIMPLEX TABLEAUX CY OR N)?
IF'MAX. TYPE 'I'J IF" MIN. TYPE '-I'?I
TYPE: NUMBER OF' CONSTRAINTS.
TYPE: NO. OF' LESS THANS. NO.
ENTER THE SIMPLEX TABLEAU IN
EQUALITIES. >= INEQUALITIES.
NUMBER OF" VARIABLES?2.2
OF' EQUALITIES. NO. OF" GREA1ER THANS?I.".I
THE ORDER: <= INEQUALITIES.
OBJECTIVE F"UNCTION.
? 1.2.3
??2. 3.4
?13.4.5
YOUR VARIABLES I
THROUGH 2
SURPLUS VARIABLES 3
THROUGH 3
SLACK VARIABLES 4
THROUGH 4
ARTIF'ICIAL VARIABLES 5
THROUGH 5
TABLEAU AF"TER
I TERATI ONS
"
2
(/J
2
3
-I
-3
-4
-2
-3
"
"
"
"
"
3
4
"
5
-4
LINPRO, Page 5
BASIS BEFORE ITERATION
VARIABLE
VALUE
~
3
5
~
PIVOT COORDINATE IS (2
• 2
TABLEAU AFTER 1
ITERATIONS
-.333333
.66666""
-
.666667
1
-.666661
.333333
-.333333
"
"
"
.333333
1.33333
1.33333
10.3333
"
" -1.33333
" "
BEFORE ITERATION 2
.33333~1
"
BASIS
VARIABLE
VALUE
.333333
1.33333
~
2
PI VOT COORDI NATE IS ( I
• 3
TABLEAU AFTER 2
ITERATIONS
-.5
"
-1
1.5
o
o
o
-I
BASIS BEFORE
VARIABLE
2
o
11 •
o
"
"
ITERATION 3
VALUE
3
.5
2
1.5
PIVOT COORDINATE IS (2
• 1
TABLEAU AFTER 3
ITERATIONS
"1.
~:
"
2~
"
ANSWERS:
121
VARIABL.E
"
"
3
"
0
VALUE
3
2
1
3
DUAL VAtU ABLES:
COLUMN
VALUE
3
0
..
3
OBJECTIVE FUNCTION VALUE
IN 3
I TERATI ONS
DONE
2
-I
"
3
"
o
2
.5
1.5
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
LINQUP
36710
TITLE:
SOLVES EITHER A LINEAR OR QUADRATIC PROGRAMMING PROBLEM
DESCRIPTION:
This program solves either a linear or quadratic programming problem.
INSTRUCTIONS:
Enter the following data beginning in line number 9900.
1.
2.
3.
4.
5.
6.
Problem type: "MAX" or "MIN".
Number of terms in the objective function (i.e .• the expression
X X -X -3X consists of three terms).
2
1 2 l
Number of allocation variables (i.e., the expression X1X2-X l -3X 2
has two allocation variables: Xl and X2 )·
Number of constraint equations in the problem.
The terms of the objective function expressed in the following format:
"entry 1", "entry 2", "coefficient"
where "entry 1" is the number of an allocation variable and "entry
2" is the number of an allocation variable; (i.e., the term X1X2
would be expressed as 1,2,1 and the term -2Xl would be expressea
as 1,0,-2 or 0,1,-2 where zero signifies that the term is linear).
The coefficients of the constraint equations written in the following
manner for both maximization and minimization:
H(X l , X2 , .... Xn) ~ 0
(for example, -4Xl-2X2+7~0 would be entered as -4,-2,7).
The input given in the sample RUN is for the quadratic programming problem:
Max 6Xl + 3X 2 - X12+ 4X1X2 - 4X 22
subject to: Xl + X2 2 3
4Xl + X2 2 9
SPECIAL
CONSIDERATIONS:
The program begins at line number 9000.
The following variables are used in the program:
A, F, I, 18, 19, J, K, L, P, Q, R, S, U, W, X, Z5, Z6,
A, B, M, R$, S$, T$, V$, Yare array names
ACKNOWLEDGEMENTS:
Babson College
Babson Park, Massachusetts
n,
Z8, Z9
LINQUP, Page 2
RUN
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
99OO
9901
9902
9903
9904
9905
9906
9901
9908
DAT~
"MAX"
5,,2,,2
1 " 1 " -1
2,,2,,-4
1,,2,,4
1"O,,6
2"O,,3
-1" -1" 3
-4" -1" 9
RUN
LINQUP
OBJECTIVE IS TO MAXIMIZE THE SUM
•
•
•
-1
-4
4
6
3
*
•
XC 1
XC 2
XC 1
XC 1
XC 2
)
)
)
•
•
*
Or
THE rOLLOWING TERMS:
XC 1
XC 2
XC 2
THE CONSTRAINTS ARE:
H 1
=:
-1
-1
3
*
*
>=
H 2
°
•
-4
-1
9
>=
*
XC 1
XC 2
=:
XC 1
XC 2
°
DO YOU WISH TO SELECT THE PIVOT ELEMENTS MANUALLY"YES OR NO
?NO
DO YOU WISH PRINTOUT Or INTERMEDIATE T4BLEAUS"YES OR NO
?NO
ALLOCATION VARIABLES AND ASSOCIATED LAGRANGE MULTIPLIERS
X
1
X 2
= 2.
1
MU 1
MU 2
°
=°
CONSTRAINT RELATIONS AND ASSOCIATED LAGRANGE MULTIPLIERS
H 1
H 2
=°
°
OBJECTIVE rUNCTION
DONE
=2
MU 3
MU 4
= 15
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONT R I BUTE D P ROG R AM
BASIC
LNTRND
36069
TITLE:
LINEAR TREND FORECASTING
DESCRIPTION:
LNTRND computes a simple linear trend forecast with seasonal adjustments
for monthly data.
(A good fit will result only if the trend is linear.)
INSTRUCTIONS:
Data should be entered in the following order, beginning in line 9900:
1.
N = no. of years for which data will be entered.
Al
values'for year #1
12
A2 values for year #2
12
AN values for year #N
12
Output will be of the following form:
first the A&B values of the linear forecasting equation: Y = A + B * X,
and then the forecasts and seasonal values f'or the next 12 month period.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
N must be <9, otherwise alter dim-statements in line 9230 to
A[N,12], B[N,12], D[N,12], E[12], F[12].
LNTRND, page 2
RUN
GET- $LNTRND
LIST-9900
LNTRND
9900
9901
9902
9903
9999
DATA
DATA
DATA
DATA
END
4.2.2.2.2.4.2.6.2.8.3.3.2.3.4.4.4.5.4.8.5
5.5.2.5.4.5.6.5.3.5.4.5.6.5.7.5.8.6.6.6.1
6.6.1.6.3.6.5.6.7.6.8.6.9.6.7.6.7.6.9.7.7
7.7.7.1.7.7.2.7.3.6.9.7.7.7.4.7.5.7.5
RUN
LNTRND
*
LINEAR TREND
~ORECASTING
*
**********************************************************************
LINEAR FORECASTING EQUATION IS: Y
= 3.08732
+ .105705
*
x •
DATA FOR PERIODS 1 THRU 48
WERE SUPPLIED AS INPUT.
THE NEXT 12 MONTHS ARE ~ORECAST HERE:
PERIOD
49
50
51
52
53
54
55
56
57
58
59
60
~ORECAST
7.97485
8.11943
8.40676
8.5377
8.61503
8.78659
8.6036
8.57601
8.939
9.76507
9.97208
9.99914
SEASONAL
.964679
.969768
.991567
.994611
.991411
.999002
.96658
.952173
.980962
1.05933
1.06952
1.0604
~ACTOR
************************************************************************
DONE
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
MtM't.l
TITLE:
QUEUEING SYSTEM
DESCRIPTION:
This program calculates all the necessary information for a Queueing system
with single server, Poisson input and Exponential service times.
INSTRUCTIONS:
The program asks for A(the input rate) and ~(the service rate). In the
Queueing Theory, f=A is defined as the traffic intensity. For the
existence of the st~ady state probability distribution, f must be less
than one.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
FOR INSTRUCTIONAL PURPOSES
Suitable Courses: Introduction to Operations Research
Introduction to Queueing Theory
David Y. W. Chenq
Fu Shing Mfg. &Lumber Co., Ltd.
36655
M/M/l, Page 2
RUN
RUN
M;tM2J
WHAT ARE THE VALUES OF ARRIVAL
RATE~
AND SERVICE RATE
?3~.56
THE TRAFFIC INTENSITY
= .535114
THE STEADY STATE QUEUE LENGTH DISTRIBUTION AS FOLLOWS:
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
UC
.464286
121
1
2
3
4
5
6
1
8
9
Ie
11
12
13
14
15
16
11
18
19
2121
21
= .248124
.133245
1.13814E-12I2
3.824121 1E-12I2
2.1214851E-12I2
1.1219145E-12I2
5.8192I21E-12I3
3. 14951E-12I3
= 1 • 68121E -1213
= 9.1213896E-12I4
= 4.8423I21E-12I4
2. 5941219E-12I4
1.38969E-12I4
1.44418E-e5
3.98821E-12I5
2.13658E-e5
1.14459E-12I5
= 6.13116E-12I6
3.28481E-e6
1.15915E-12I6
= e.
THE PROBABILITY OF FINDING MORE THAN N IN THE QUEUE IS PCN):
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
PC
.535114
121
1
2
3
= .28699
4
5
6
1
8
9
1121
11
12
13
14
15
16
11
18
J9
2121
21
22
)
.153145
8.23632E-e2
= 4.41232E-12I2
= 2.36314E-e2
= 1.26629E-12I2
6.1831I21E-e3
3.63413E-e3
1.94685E-12I3
l.e4296E-12I3
= 5.58121E-e4
=
= 2.99318E-12I4
1.6121349E-e4
8.5geI3E-12I5
= 4.6121186E-12I5
= 2.46528E-12I5
= 1.32e69E-e5
= 1.1211511E-12I6
= 3.1ge24E-e6
= 2.121312149E-e6
= 1.1218116E-12I6
= 121.
= 1.15385
OF QUEUE LENGTH = 2.48521
WAITING TIME = 2.121612144
OF WAITING TIME = 11.612141
LENGTH OF BUSY PERIOD = 3.84615
THE EXPECTED QUEUE LENGTH
THE VARIANCE
THE EXPECTED
THE VARIANCE
THE EXPECTED
NOTE--THIS PROGRAM FORCES ALL PROBABILITIES LESS THAN
121.1211211211211211 TO ZERO.
MIMI1, Page 3
IF HIGHER ACCURACY IS DESIRED. LINE 1250. AND 1330
MUST BE PEARRANGED.
DONE
RUN
M~M'l1
WHAT ARE THE VALUES OF ARRIVAL RATE. AND SERVICE RATE
1.5 •• 3
THE TRAFFIC INTENSITY
= 1.66661
THE STEADY STATE DISTRIBUTION DOES NOT EXIST
DONE
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
MZMlS
36656
TITLE:
MjMjS QUEUEING SYSTEM
DESCRIPTION:
This program calculates all the necessary information for a Queueing systen
with S servers, Poisson input and Exponential service times. The service
rate between different servers is assumed homogeneous.
INSTRUCTIONS:
The program will ask for A(the input rate}, ~(the service rate) and S
(the number of server). In the Queueing Theory, j=A is defined as the
s].J
traffic intensity. For the existence of the steady state probability
distribution, j must be less than one.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
FOR INSTRUCTIONAL PURPOSES
Suitable Courses: Introduction to Operations Research
Introduction to Queueing Theory
David Y. W. Cheng
Fu Shing Mfg. & Lumber Co., Ltd.
M/M/S, Page 2
RUN
RUN
MZMZS
WHAT ARE THE VALUES OF ARRIVAL RATE# AND SERVICE RATE
?#2.5
WHAT IS THE NUMBER OF SERVERS
12
THE TRAFFIC INTENSITY = .8
THE STEADY STATE QUEUE LENGTH DISTRIBUTION FOR N CUSTOMER
IN THE SYSTEM IS UeN)# AND THE PROBABILITY OF FINDING MORE
THAN N IN THE QUEUE IS peN) :
UC 0
)
= • 1I 1I 1I
PC 0
UC
= .111118
ue 2
= .1.2222
UC 3
= .113118
= .888889
PC
UC 4
9.10222E-02
UC 5
1.28118E-02
U( 6
5.82542E-02
UC 1
4.66034E-02
U( 8
3.12821E-02
UC 9
= 2.98262E-02
UC 10
= 2.38609E-02
UC 11
= 1.90881E-02
UC 12
= .015211
uc 13
= 1.22168E-02
UC 14
9.11343E-03
UC 15
1.61814E-03
UC 16
6.25499E-03
UC 11
= 5.00399E-03
UC 18
4.00319E-03
UC 19
3.20255E-03
UC 20
2.56204E-03
UC 21
2.04964E-03
UC 22
1.63911E-03
UC 23
= 1 .31111 E -0 3
UC 24
1.04941E-03
UC 25
8.39530E-04
UC 26
= 6.11624E-04
UC 21
5.31299E-04
UC 28
4.29839E-04
UC 29
= 3.43811E-04
.111111
PC 2
= .568889
PC 3
= .455111
PC 4
.364089
PC 5
)
= .291211
PC 6
= .233011
PC 1
.186413
PC 8
.149131
PC 9
= .119304
PC 10
9.54435E-02
PC 11
1.63541E-02
PC 12
6.10838E-02
PC 13
= .048861
PC 14
3.90936E-02
PC 15
= 3.12149E-02
PC 16
2.50199E-0?
PC 11
2.00158E-02
PC 16
1.60121E-02
PC 19
1 • 28 I 0 I E -02
PC 20
1.02481E-02
PC 21
8. 19838E -03
PC 22
= 6.55666E-03
PC 23
= 5.24688E-03
PC 24
4.19146E-03
PC 25
3.35801E-03
PC 26
2.68638E-03
PC 21
= 2.14911E-03
PC 28
1.11924E-03
PC 29
1.31532E-03
M/M/S, Page 3
2.75097E-04
lI( 30
31
lI(
32
1.16062E-04
lI( 33
= 1.40850E-04
lI( 34
= 1.12680E-04
lI( 35
9.01438E-05
lI( 36
7.21150E-05
lIC 31
5.76920E-05
)
lJ(
38
= 4.61536E-05
lJ(
39
3.69229E-05
lJ< 40
lJ(
)
P( 30
1.10018E-03
P( 31
= 8.80122E-04
P( 32
1.04050E-04
P( 33
= 5.63145E-04
P( 34
= 4.50492E-04
P( 35
3. 60310E-0 4
P( 36
= 2.88248E-04
P( 37
2.3055IE-04
P( 38
= 1.84411E-04
P( 39
1.41462E-04
P( 40
= 1.11898E-04
P( 41
9.42945E-05
P( 42
= 1.53403E-05
= 2.20018E-04
lI(
= 2.95383E-05
41
2.36306E-05
lJ< 42
= 1.89045E-05
IJ( 43
1.51236E-05
44
= 1.20989E-05
U( 45
= 9.67910E-06
46
= 7.14328E-06
U( 41
6.19463E-06
U( 48
= 4.95570E-06
U( 49
= 3.96456E-06
U( 50
3.17165E-06
U( 51
2.53732E-06
P( 43
1J(
1J(
52
= 2.02985E-06-
1lJ( 53
1.62388E-06
4.81606E-05
PC 45
3.85046E-05
PC 46
= 3.01560E-05
P( 41
2.4551IE-05
P( 48
1.95503E-05
P( 49
1.56164E-05
54
1.29911E-06
U( 55
1.03929E-06
U( 56
0.
)
= 1.23978E-05
P( 51
= 9.89431E-06
52
7.86781E-06
P( 53
6.19888E-06
PC 54
4.88758E-06
P( 55
3.81410E-06
P(
IU (
= 6.02007E-05
P( 44
P( 50
IJ(
)
PC 56
= 0.
THE PROBABILITY THAT ALL SERVERS WILL BE BUSY
.711111
THE PROBABILITY THAT AT LEAST ONE CUSTOMER
= .568889
BE WAITING
~ILL
THE EXPECTED QUEUE LENGTH = 4.44444
THE EXPECTED NUMBER OF CUSTOMERS ACTUALLY WAITING
= 2.84444
THE EXPECTED WAITING TIME = .71 1 1 1 1
THE EXPECTED NUMBER OF BUSY SERVERS
1.6
NOTE--THIS PROGRAM FORCES ALL PROBABILITIES LESS THAN
0.000001 TO ZERO.
IF HIGHER ACCURACY IS DESIREDI LINE '4601 '5301 AND
'580 MUST BE REARRANGED.
DONE
M/M/S, Page 4
RUN
M/M/S
WHAT ARE THE VALUES Or ARRIVAL
RATE~
AND SERVICE RATE
13.5~1
WHAT IS THE NUMBER Or SERVERS
13
THE TRArrIC INTENSITY
= 1.16661
THE STEADY STATE DISTRIBUTION DOES NOT EXIST
DONE
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
MAX FLO
TITLE:
MAXIMUM FLOW IN A CAPACITATED NETWORK USING THE
LABELING TECHNIQUE OF FORD & FULKERSON
DESCRIPTION:
Consider a connected network consisting of a single source, a single sink,
and some intermediate nodes. We assume that there is a capacity restriction c .. >=0 (usually c .. !c .. ) on each arc connecting node i and node j.
JJ
JJ JJ
The problem is to assign flow for the various arcs in such a way that the
sum of flow from source to sink is maximized, yet none of the capacity
constraint has been violated.
INSTRUCTIONS:
Label the nodes in such a way that node 1 is the source and node N is the
sink in a N-node network.
36609
Input data starting on line 2000 as follows:
2000
2001
DATA N
DATA I,J,C(I,J)
The number of nodes
The capacity from i to
. ,-,
DATA N,N,O
Last line must be N,N,O
continued on following page
SPECIAL
CONSI DERATIONS:
ACKNOWLEDGEMENTS:
FOR INSTRUCTIONAL PURPOSES
Suitable Courses: Introduction to Operations Research
Introduction to Graph Theory
David Y. W. Cheng
Fu Shing Mfg. & Lumber Co., Ltd.
j
r-1AXFLO, Page 2
INSTRUCTIONS - continued
"MAXFLO
SAr~PLE
PROBLEM"
RUN
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
15
1,2,20
1,3, 18
1,4, 12
1,5, 16
2,1,4
2,3,6
2,6,18
3,1,5
3,2,6
3,4,8
3,7,30
3,8,25
4,1,7
4,3,2
4,9, 16
5, 1,8
5,7,22
5,9, 14
6,2,8
6,3,3
6,7,3
6,10,4
7,3=0
7,6,5
7,10,8
7, 11,5
8,3,14
8,9,3
MAXFLO, Page 3
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2023
2039
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
IDATA
DATA
DATA
DATA
8, 11,7
8,12,~
9,4, 10
9,5,5
9,8,4
9,12,6
10,6,1
10,7,6
10,13,15
10,14,8
I 1,7 >
11,12,1
11,13,10
11,15,12
12,8,4
12,9,9
12,11,8
12, 14,7
13,10,8
13,11,9
13,15,3
14,10,2
14,12,3
14, 1 5, 4
15,11,22
15,13,22
15,14,22
15,15,0
7,3,10
11,7,2
RUN
MAXF'LO
THE CHIt:\IN CONNECT NODE
7
11
3
1
F'LOW = 5
(SOURC E>
15
AND NODE
15
(SINK):
THE CHIt:\IN CONNECT NODE
8
11
3
F'LOW = 7
(SOURCE>
15
AND NODE
15
(SINK) :
THE CHIt:\IN CONNECT NODE
6
10
2
1
F'LOW = 3
(SOURC E) AND NODE 15
15
13
(SINK) :
THE CHIt:\IN CONNECT NODE
6
10
2
F'IL.OW = I
(SOURCE> AND NODE 15
14
15
(SINK):
THE CH,AIN CONNECT NODE
7
3
10
F'LOW
3
( SOURCE> AND NODE 15
15
14
(SINK) :
THE OPTIMAL SOLUTION AS F'OLLOWS:
F'( 1, 2)=
F'( I, 3)=
F'( 2, 6)=
F'( 3, 7)=
F'( 3, 8)=
F'( 6, 10) =
F'( 7,10)=
F'e 7,11)=
F'( 8,11>=
F'(10,13)=
F'( 10,14)=
F'(11,15)=
F'(13,15)=
F' ( 14, 15)
4.00
15.00
4.00
8.00
=
THE MAXIMUM F'LOW =
DONE
19
7.00
4.00
3.00
5.00
7.00
3.00
4.00
12.00
3.00
4.00
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
TITLE:
BASIC
SHORTEST ROUTE PROBLEM USING THE METHOD OF DYNAMIC
PROGRAMMING WITH SUCCESSIVE APPROXIMATION IN FUNCTIONAL SPACE
SHORTR
36610
DESCRIPTION:
In an N-node network, where the distance (or cost) from node i to node j is
Cjj (Cjj>=O). The problem is to find a chain from node 1 to node N, such
tnat tne total distance (or cost) is minimized.
INSTRUCTIONS:
Label the nodes in such a way that node 1 is the origin and node N is the
destination in a N-node network.
Input data start on line 2000 as follows:
2000
2001
DATA N
DATA I,J,C(I,J)
The number of nodes
Only the existing arcs
DATA N,N,O
Last line must be N,N,O
In 2), C(I,J) or C(J,I) need only be entered once if it is a two-way traffic
network, must be entered separately if it is a one-way traffic network.
SPIECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
FOR INSTRUCTIONAL PURPOSES
Suitable Courses: Introduction to Operations Research
Introduction to Dynamic Programming
David Y. W. Cheng
Fu Shing Mfg. & Lumber Co., Ltd.
SHORTR, Page 2
RUN
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
10
1,2,7
1,3,8
2,3,7
2,4,8
2,5,6
3,5,6
3,6,4
4,5,2
4,7,3
4,8,3
5,6,7
5,7,2
5,8,6
6,8,9
7,8,5
7,10,9
6,9,6
8,9,8
8,10,8
9,10,8
10,10,0
RUN
SHORTR
TYPE I-fOR ONE WAY TRAfF"l C CCCI,j>#CCj,I»
2-fOR TWO WAY TRAfF"l C CCCI,j>=C=CCj,I»
?2
AfTER
fROM
1
2
5
7
ITERATIONS, WE fOUND THE OPTIMAL SOLUTION AS fOLLOWS:
9
TO
2
5
7
10
TOTAL DI STANCE
DONE
DISTANCE
7.00
6.00
2.00
9.00
24
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
TIMDIF
36801
TITLE:
FIRST DIFFERENCES, PERCENT CHANGES, PERCENT DIFFERENCE
DESCRIPTION:
This program calculates first differences, percent changes, or percent
differences for up to 1000 time periods. The ~verage change, variance,
standard deviation, and Durbin-Watson statistic are also calculated.
Data may be entered through DATA statements or a data file.
INSTRUCTIONS:
SPECIAL
COINSIDERATIONS:
ACKNOWLEDGEMENTS:
Enter data in DATA statements beginning at line 5000, or store data on
a sequential file. When running, the program will ask the user to
select various options.
If file input is used, the data must be stored on a sequential file.
Larry Lazzarini
De Paul University
TIMDIF, Page 2
RUN
RUN
Tlt1JIF
DJ YOI] WANT INSTRI]CTIONS(I=YESI0=NO)?1
TH I S PRO SRA..'1 RSADS I N A VECTOR 0;:' VALU:::S (1000 EL::rENT S
MAXIMUA) AND CALCULATES EITHER (I)FIRST DIFFEqENCESI
(2) PERCENTAGS CHANnSS~ OR (3) PERCENT DIFFERENCESI
D~PENDING ON THE USER'S O?TION.
ENTER DATA IN DATA STATEMENTS STARTING ON LINE 52100
AS FOLLOWS:
Nl~N2~N3~N4~ ETC. ARE TH::: 'JALU:::S. THIS
OOTIO~ALLY USE DATA FILS INPUT INSTEA~
PROGRA:'l '.JILL
OF DATA STATEMENTS.
DONS
52101'
501'0
5020
50321
5040
5050
5060
50721
5080
52190
621210
DATA 59.22~54.74~17.57120.45165.64171.22~19.0o~60.27~38.12175.26
DATA 38.21 63.351 10.211 13. 18 ~ 78.57 193. g 9 ~ 97.26195. 13166.8 1 ~ 26 .84
DATA 22.1gI99.B4167.22192.37192.38188.35IBl.96126.0BI71.6~95.51
DATA 321.48143.91190.45167.9312.1160.39139.33117.2175.23163.93
D.l\TA 87.59157.04~97.3313.el9172.51~93.25118.97197.3712.07135.07
DATA 76.11~66.37115.03196.g6114.04121.08142.28158.71146.96141.06
DATA 13.02154.76146.82121.13149.69~58.08155.2~11.55195.281321.73
DATA 11.99170.1g~ 16.3117.81~94.65145.6128.78184.26161.7219.79
DATA 8el.18~73.12194.39159.18149.1~4.08129.8812.81198.32130.93
DATA 80.4156.34165.96116.82131.3~60.68144.71165.95112.37144
END
RUN'
TIMDIF
DO YOU WANT INSTRUCTIONS(I=YESI2I=NO)?NO
??0
1= DATA ON FILEI 21= DATA IN DATA STATSMENTS. WHICH ?21
DO YOU WANT YOUR RA~" DATA PRI NTED( 1=YESI 0=NO) ? 1
I OF VALUES? 100
ENTER THE NUMBER OF YOUR OPTION
1 FOR 1ST DIFF.~ 2 FOR % CHANGES~
3 FOR % DIr-F.
?1
RATJ DATA:
59.22
38.12
97.26
92.38
90.45
87.59
2.07
42.28
49.69
16.81
80. 18
88.32
44.71
54.74
75.26
95.13
88.35
67.93
57.04
35.07
58.71
58.08
7.81
73.12
30.93
65.95
17.57
38.20
66.81
81.96
2.121
97.33
76.11
46.96
55.20
94.65
94.39
80.40
12.37
MEAN
VARIANCE
STANDARD DEVIATION =
DURBIN-WATSON STATISTIC
20.45
63.35
26.84
26.08
60.39
3.09
66.37
41.06
11.55
45.60
59.18
56.34
44.00
51.9959
875.174
29.5833
2.12907
65.64
10.21
22.18
71.60
39.33
72.51
15.03
13.02
95.28
28.78
49010
65.96
71.22
13. 18
99.84
95.51
17.20
93.25
96.86
54.76
30.73
84.26
4.08
16.82
19.06
78.57
67.22
30.48
75.23
18.97
14.04
46.82
11.99
61.72
29.88
31.30
60.27
93.89
92.37
43.91
68.93
97.37
21.08
21013
70.18
9.79
2.81
60.68
TIMDIF, Page 3
TRANSFOHMED DATA:
-4.l,8
-37"7
37.1l4
-37.06
-2.1l3
-26.32
-6.39
-4. Q' 3
-22.S2
-65.63
-30.~;5
4121.29
41.04
33.~'0
16.l,3
- 11 • 75
6. :39
-2.66
86.64
-9.~'0
21.27
-7.~'6
-57. :)9
49.47
21 • ~~4
-53.56
2.86
25.15
-39.97
-55.66
56.29
-94.24
-9.74
-5.90
-43.65
-49.05
-35.21
-24.06
31.63
MEAN
VARIANCE
STJ\NDARD DEVIATION
DURBIN-\MTSON STATISTIC
45.19
-53.14
-4.66
45.52
-21.06
69.42
-51.34
-26.04
63.73
-16.82
-10.06
9.62
5.56
2.97
77.66
23.91
-22.13
20.74
61.63
41.74
-64.55
55.48
-45.02
-49.14
-52.16
65.39
-32.62
-65.03
56.03
-74.26
-62.62
-7.94
-16.74
-22.54
25.60
14.46
41.21
15.32
25.15
13.43
-6.30
76.4121
7.04
-25.69
56.19
-51.93
-27.07
29.36
-22.15
3.37
0.01
46.54
18.66
-95.30
21.20
28.56
-53.37
70.39
85.51
-15.97
19.06
78.57
67.22
30.48
75.23
18.97
14.04
46.82
11.99
61.72
29.88
31.30
60.27
93.69
92.37
43.91
68.93
97.37
21.08
21.13
70.18
9.79
2.81
60.66
316.21
119.521
137.41
144.06
91.63
513.28
150.14
45.13
565.32
15.86
9.40
193.87
63.25
103.59
100 '-01
205.99
127.07
2.13
200.57
235.16
23.95
819.00
3143.06
73.68
-.153737
1662.29
43.3854
3.03707
ANOTHER OPTION (I=YES,,0=NO) ? 1
ENTER THE NUMBER OF YOUR OPTION
1 FOR 1ST DIFFu 2 FOR % CHANGES" 3 FOR % 011"1".
?2
'nAW DATJ\:
59.:~2
38. :12
97. ~~6
92. :36
90.i~5
87. ~;9
2."7
42. :~8
49.69
16.~31
80.18
86. :32
44.'71
STl~NDA~D
DURBIN-~JATSON
54.74
75.26
95. 13
88.35
67.93
57.04
35.07
58.71
58.06
7.81
73. 12
30.93
65.95
MEAN
VARIANCE
DEVIATION
STATISTIC
TRANSFOH.l1ED DATA:
92.i~3
32.10
197.43
50.76
97.Bl
70.23
92.77
95.64
3.09
75.:10
65 • .12
170.63
1694.:~0
217.02
79.99
138.86
116.f38
95.04
46. i~6
1211.91
91.19
129.09
259.94
35." 2
147.!;I
18.76
STJ~NDARD
DURBIN-1~ATSON
17.57
36.20
66.81
81.96
2.10
97.33
76.11
46.96
55.20
94.65
94.39
60.40
12.37
=
116.39
165.84
40.17
31.82
2875.71
3.17
87.20
87.44
20.92
4~.18
62.70
70.07
355.70
MEAN
VARIANCE
DEVIATION
STATISTIC =
20.45
63.35
26.84
26.08
60.39
3.1219
65.64
10.21
22.18
71.60
39.33
72.51
66.37
41.06
11.55
45.60
59. 16
56.34
13.02
95.28
28.76
49.10
65.96
71.22
13. 16
99.64
95.51
17.2121
93.25
96.86
54.76
30.73
84.26
4.08
16.62
108.50
129.09
450.14
133.39
43.73
128.60
644.44
420.58
32.25
292.77
8.31
25.50
26.76
596. 13
67.33
31.91
437.38
20.34
14.50
85·50
39.02
73.25
732.35
186.09
15.1213
44.1210
51.9959
875.174
29.5833
2.12907
320.98
16. 12
82.64
274.54
65.13
2346.60
22.65
31.71
824.94
63. 11
82.97
117.07
259.454
270726.
52flJe315
2.31805
ANOTHER OPTION (I=YES,,0=NO> ? 1
TIMDIF, Page 4
ENTER THE NUMBER OF YOUR O?TION
1 FOR 1ST DIFF., 2 FOR % CHANGES, 3 FOR % DIFF'.
13
RAT) DATA:
59.22
38.12
97.26
92.36
90.45
67.59
2.07
42.28
49.69
16.61
60.18
68.32
44.71
54.74
75.26
95.13
88.35
67.93
57.04
35.07
56.71
56.06
7.61
73.12
30.93
65.95
65.64
10.21
22.18
71.60
39.33
72.51
15.03
13.02
95.26
28.76
49.10
65.96
71.22
13. 18
99.84
95.51
17.20
93.25
96.66
54.76
30.73
84.26
4.08
16.82
7.83
68.85
-520.47
22.53
77.78
-21.01
63.58
25.03
-53.55 -128.66
95.74
22.24
84.48
-341.58
-215.36
76.22
87.88
-21121.1216
-58.44
65.84
-20.53 -1103.43
14.58 - 29 2. 15
-273.66
83.23
-48.53
-213.35
77.14
-391.57
-589.89
-16.96
-156.30
-36.52
86.35
46.26
17.57
38.20
66.81
81.96
2.10
97.33
76.11
46.96
55.20
94.65
94.39
20.45
63.35
26.84
26.08
60.39
3.09
66.37
41.06
1 1.55
45.60
59 .. 8
56.34
44.121121
80.!~0
12.37
MEAN
VARIANCE
STANDARD DEVIATIO;-J
DURBIN-'''ATSON STATISTIC
-174.316
426472.
653.12148
2.24311
ANOTHER OPTION Cl=YES.leJ=NO> 10
DONE
60.27
93.89
92.37
43.91
66.93
97.37
21.06
21 .13
70.18
9.79
2.81
6121.68
51.9959
875.174
29.5833
2.1291217
TRANSFORMED DATA:
-8. 18 -211.55
14.08
39.70
49.35
-97.1212
-42.39 -148.92
-2.24
-4.56
-7.80 -214.26
96.52
-33.15 -3134.76
-53.56
41.40 -3049.84
94.1121
53.92
-14.68
27.99
-25.1212
-14.37
14.45
-5.22 -377.92
- 115.24
91.75 -Un.57
-9.66
22.53
-59.50
-185.55
-42.71
61.53
32.21
71.89
-433.14
MEAN
VARIANCE
STANDARD DEVIATION
DURBIN-tJATSON STATISTIC
19.06
78.57
67.22
30.48
75.23
18.97
14.04
46.62
11.99
61.72
29.68
31.30
68.38
-58.11
16.32
3.46
0.01
27.23
51.45
30.59
21.30
-9.14
80.52 -4603.86
5121 .14
33.4121
57.48
-121.58
82.92 -317.49
87.79
-530.44
96.82
-963.35
-35.72
48.42
MANAGEMENT SCIENCES AND OPERATIONS RESEARCH (600)
CONTRIBUTED PROGRAM
BASIC
TRANSP
36230
TITLE:
TRANSPORTATION PROBLEM
DESCRIPTION:
This program provides optimal solutions to the transportation class of
linear programs, and determines the cost of implementing the solution.
INSTRUCTIONS:
Enter data beginning in line 9000 as follows:
= number of rows; j = number of columns
a i = rim value for row i
bj = rim value for column j
i
1.
i ,j
2.
3.
a1 ,a 2 , ... ,a i
bl ' b2 , ... , bj
4.
cll ,c 12 '··· ,c lj
c21,c22,···,C2j
..
SPECIAL
CONSIDERATIONS:
.
c ij = elements of the cost/profit matrix,
~by~
The program is capable of handling either cost or profit matrices up to
a maximum size of 20 x 20.
The rim requirements (sources and destinations) must be
integers.
represen~ed
as
This program is based on a restricted primal-dual algorithm described by
Ford and Fulkerson in Management Science, 3, No.1 (1956), pp. 24-32.
ACKNOWLEDGEMENTS:
Lynn W. Marples
University of Western Ontario, Canada
TRANSP, Page 2
RUN
9CiH2I0 DATA
9001 DATA
9002 DATA
9003 DATA
RUN
TRANSP
3 .. 3
1 .. 2 .. 3
3 .. 2 .. 1
1 .. 2 .. 3 .. 6 .. 4 .. 2 .. 1 .. 4 .. 7
THE TRANSPORTATION PROBLEM
TYPEI
OR
+1 FOR COST MINIMIZATION
-1 FOR PROFIT MAXIMIZATION.
WHICH?+1
OPTIMAL SOLUTION
3
OBJECTIVE FUNCTION
11
DONE
RUN
TRANSP
THE TRANSPORTATION PROBLEM
TYPEI
OR
+1 FOR COST MINIMIZATION
-1 FOR PROFIT MAXIMIZATION.
OPTIMAL SOLUTION
2
o
2
OBJECTIVE FUNCTION
DONE
28
WHICH?-1
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAMBASIC
ANNUlT
TITLE:
ANNUITY ANALYSIS
DESCRIPTIOIN:
This program performs the calculations necessary for determining both
payment and withdrawal annuities.
36074
See any standard textbook on annuities for the computational method.
INSTRUCTIONS:
SPECIAL
CONSIDERATIONS:
ACKNOWLE[)GEMENTS:
To use this program, supply values for the variables as required by the
prob 1em.
Variables are denoted as follows:
N = Number of periods
P = Original principal amount
A = Total amount at end of n periods
I = Interest rate per period, in percent
R = Amount of payment/withdrawal each period
For a payment annuity, you may give any three of N,A,I,R and find the
fourth.
For a withdrawal annuity, you give any three of N,P,I,R and find the
fourth.
For loan or mortgage, use the withdrawal annuity option.
After each case, you may choose one of the following alternatives:
1 = Another case, same unknown variable
2 = Another case, different unknown
3 = Another case, other type of annuity
4 = Total interest paid over n periods
5 = Table of withdrawals, principal, and interest
6 = Stop the program
The answer does not account for any simple interest that might have
been paid on deposits prior to the first compounding period.
ANNUIT, page 2
RUN
GET-$ANNUIT
RUN
ANNUIT
•
ANNUITY
•
THIS PROGRAM COMPUTES PAYMENT AND WITHDRAWAL ANNUITIES.
DEFINITION OF VARIABLES.
--N • NUMBER OF PERIODS
--A • AMOUNT LEFT AT END OF N PERIODS
--I = INTEREST IN PERCENT PER PERIOD
--R • AMOUNT OF PAYMENT PER PERIOD
--P • ORIGINAL PRINCIPAL AMOUNT
WHICH ANNUITY TYPE Cl=PAYMENT. 2=WITHDRAWAL)?2
WITHDRAWAL EACH PERIOD = R = 162.7046
ANOTHER CASE? ENTER ONE OF THE FOLLOWINGs 1)'1' FOR ANOTHER CASE. SAME
TYPEJ 2)'2' FOR ANOTHER CASE, DIFFERENT UNKNOWNJ 3)'3' FOR ANOTHER
CASE. OTHER TYPE OF ANNUITYJ 4)'04' TO GET TOTAL INTEREST PAID OVER THE
N PERIODSJ 5)'5' FOR A TABLE OF WITHDRAWALS. PRINCIPAL. AND INTERESTJ
OR 6)'6' TO TERMINATE?5
PERIOD
"2
I
3
04
5
6
7
8
9
10.
PRINCIPAL
62.75
69.02
75.92
83.51
91.87
101.05
111.16
122.27
1304.5
1047.95
INTEREST
100
93.73
86.82
79.23
70.88
61·69
51.59
~0.047
28.25
104.79
PRINC BAL
1000
937.255
868.2304
792.312
708.798
616.932
515.88
4004.723
282.045
1047.9049
0
INT TO DATE
100
193.73
280.55
359.78
0430.66
0492.35
5043.904
5804.041
612.66
627.0455
--------------ANOTHER CASE? ENTER ONE OF THE FOLLOWING. 1)'1' FOR ANOTHER CASE. SAME
TYPEJ 2)'2' FOR ANOTHER CASE. DIFFERENT UNKNOWNJ 3)'3' FOR ANOTHER
CASE. OTHER TYPE OF ANNUITYJ 04)'04' TO GET TOTAL INTEREST PAID OVER THE
N PERIODSJ 5)'5' FOR A TABLE OF WITHDRAWALS. PRINCIPAL, AND INTERESTJ
OR 6)'6' TO TERMINATE?6
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
BALSHT
36075
TITLE:
PROFORMA INCOME STATEMENT AND BALANCE SHEET
DESCRIPTION:
BALSHT provides a listing of a simple proforma income statement and balance
sheet.
INSTRUCTIONlS:
Data can be entered either from the teletype as it becomes necessary, or
internally with Data-Statements. Your choice on the above option will
be asked as the first question. Then enter, (either as data beginning in
line 9900, or with INPUT Statements) the following values:
Bl = Base period sales total
B2 = Base period net fixed assets
B4 = Base period long-term debt remaining
BS = Base period total owners' equity
B6 = Base period accumulated retained earnings
S2 = Federal corporate tax rate on profit
S3 = Promised period dividends
Rl = Amount of cash the user wishes to hold after the base period
R2 = Accounts/Receivable turnover
R3 = Inventory turnover
R6 = Accounts/Payable turnover (i.e., A/P as fraction of sales)
Then enter the next 24 values, in 6 groups of 4 (for the next 4 periods):
L(l,l thru 4) = Estimated percentage growth in sales for next 4 periods
L(2,1 thru 4) = Cost of goods sold as an estimated %of sales
L(3,1 thru 4) = General selling &administrative expense as an estimated
% of sales
L(4,1 thru 4)
Estimated amount of fixed asset purchases
L(S,l thru 4) = Estimated amount of fixed assets retired
L(6,1 thru 4) = Planned payments per quarter on debt
Enter all percentages as decimals less than 1.
ACKNOWLEDGEMENTS:
BALSHT~
page 2
RUN
RUN
BALSHT
•
PROFORMA INCOME STATEMENT , BALANCE SHEET
•
THIS PROGRAM WILL PROVIDE A LISTING OF A SIMPLE PROFORMA INCOME STATEMENT AND BALANCE SHEET.
DO YOU WISH TO ENTER YOUR DATA FROM THE TELETYPE AS IT BECOMES
NECESSARY. OR INTERNALLY WITH DATA-STATEMENTS1 ANNUAL, <2>SEMI-ANNUAL, (3 >QUARTERLY, (4)MONTHLY?1
IS INPUT FROM (I)DATA STATEMENTS OR (2)CONVERSATIONALLY?1
RETURN ON INVESTMENT IS
13.9504 PERCENT (ANNUAL)
DO YOU WISH A COMPLETE REPORT?Y
CAPITAL INVESTMENT ANALYSIS
INVESTMENT COST
INVESTMENT TAX CREDIT
NET INVESTMENT COST
PERIOD
2
3
4
5
6
7
8
9
10
11
12
350000
24500
325500
SALVAGE VALUE
35000
YEARS
LIFE OF INVESTMENT
12
INCOME TAX RATE
50.00 PERCENT
'NORMAL
EARNINGS
EXTRA
EARNINGS
NORMAL
EXPENSES
EXTRA
EXPENSES
184320
184320
184320
184320
184320
184320
184320
184320
184320
184320
184320
184320
0
0
0
0
0
0
0
0
0
0
0
35000
99648
99648
99648
99648
9964ts
99648
9964 ts
99648
99648
99648
99648
99648
0
0
0
0
25000
0
0
0
0
25000
0
0
BEFORE TAX
CASH FLOW
84672
84672
ts4672
84672
59672
84672
84672
84672
84672
59672
84672
119672
CAPDCF, Page 6
PE R100
DEPRECIATION
48462
44423
40385
36346
32308
28269
24231
20192
16154
12115
8077
4038
1
2
3
4
5
6
7
8
9
10
11
I~
TAXABLE
INC OME
36210
40249
44287
48326
27364
56403
60441
64480
68518
47557
76595
115634
TOTAL DISCOUNTED CASH FLOW
INITIAL INVESTMENT
NET PRESENT VALUE OF INVESTMENT
DO YOU WISH TO < 1 )QIJIT ..
INCOME
TAX
18105
20124
22144
24163
13682
28201
30221
32240
34259
23778
38298
57817
AFTER TAX
CASH FLOW
DISCOUNTED
CASH FLOW
66567
64548
62528
60509
45990
56471
54451
52432
50413
35894
46374
61855
58417
49710
42260
35889
23938
25795
21827
18445
15563
9724
11026
12906
325500
325500
0
(2)ENTER NEW SET OF DATA .. OR (3)CHANGE CURRENT
?I
DONE
RUN
CAPDCF
CAPITAL INVESTMENT ANALYSIS
ENTER TIME PERIOD TO BE USED FOR CASH FLOWS AND LIFE:
(1)ANNUAL .. (2)SEMI-ANNUAL .. (3)QUARTERLY .. (4)MONTHLY?1
IS INPUT FROM (1 )DATA STATEMENTS OR (2)CONVERSATIONALLY?2
INVESTMENT AMOUNT?350000
INVESTMENT TAX CREDIT AMOUNT?24500
SALVAGE VALUE?35000
LIFE OF INVESTMENT?12
INCOME TAX RATE?50
EARNINGS OPTIONS:
1-EARNINGS FOR EACH PERIOD ARE ENTERED
2-UNIFORM EARNINGS
3-STRAIGHT LINE DECLINE
4-RAPID DECLINE IN EARLY YEARS
5-RAPID DECLINE IN LATER YEARS
6-EXIT
WHICH OPTION?2
ENTER SINGLE EARNING AMOUNT? 184320
ANY EXTRAORDINARY EARNINGS?YES
ENTER THE NUMBER OF EXTRAORDINARY EARNINGS?1
FOR EACH EARNING .. ENTER PERIOD # AND AMOUNT
EARNING'
1
?12 .. 35000
ANY NORMAL EXPENSES?YES
EXPENSE OPTIONS:
I-EXPENSES FOR EACH PERIOD ARE ENTERED
2-UNIFORM EXPENSES
3-STRAIGHT LINE DECLINE
4-RAPID DECLINE IN EARLY YEARS
5-RAPID DECLINE IN LATER YEARS
6 -EX I T
CAPDCF, Page 7
l.JHIC"H OPTION?2
UNIFORM EXPENSE AMOUNT?99648
ENTE~
ANY EXTRAORDINARY EXPENSES?YES
ENTER THE NUMBER OF EXTRAORDINARY EXPENSES?2
FOR EACH EXPENSE~ ENTER PERIOD' AND AMOUNT
EXPENSE'
1
?5~25000
EXPENSE'
2
?10~25000
DEPRECIATION OPTIONS;
I-EACH IS ENTERED
2-STRAIGHT LINE
3-DECLINING BALANCE
4-SUMI OF YEARS DIGITS
5-EXIT
l.JHICH OPTION?4
ENTER % OF INVESTMENT NOT TO BE DEPRECIATED?O
ENTER NUMBER OF YEARS TO DEPRECIATE?12
RETURN ON INVESTMENT IS
13.9504 PERCENT (ANNUAL>
DO YOU WISH A COMPLETE REPORT?NO
DO YOU
~'ISH
TO
(l>QlJIT~
(2)ENTER NEW SET OF
DATA~
OR (3) CHANGE CURRENT
?1
DONE
10
20
30
40
50
60
3500000124500135000.112150
DATJlI 2 ~ 0 1 1 84 320 • 1 0
DATJ::I 111112135000.
DATf.1 41121200000.110
DATJ::~ 11215125000110125000
DAT~~
DATf.~
410~12
RUN
CAPDCF
CAPITAL INVESTMENT ANALYSIS
ENTER TXME PERIOD TO BE USED FOR CASH FLOWS AND LIFE:
(I>ANNUALI (2)SEMI-ANNUALI (3)QUARTERLYI (4 >MONTHLY? 1
IS INPlJT FROM (1 >DATA STATEMENTS OR (2)CONVERSATIONALLY?1
RETURN ON INVESTMENT IS
12.2004 PERCENT (ANNUAL>
DO YOU WISH A COMPLETE REPORT?Y
CAPITAL INVESTMENT ANALYSIS
INVESTMENT COST
INVESTMENT TAX CREDIT
NET INVESTMENT COST
350000
24500
325500
SALVAGE VALUE
35000
LIFE OF INVESTMENT
12
YEARS
INCOME TAX RATE
50.00 PERCENT
CAPOCF , Page 8
PERIOD
2
3
4
5
6
7
8
9
10
11
12
PERIOD
1
2
3
4
5
6
7
8
9
10
11
12
NORMAL
EARNINGS
EXTRA
EARNINGS
NORMAL
EXPENSES
EXTRA
EXPENSES
184320
184320
184320
184320
184320
184320
184320
184320
184320
184320
184320
184320
0
0
0
0
0
0
0
0
0
0
0
35000
200000
170000
142727
118182
96364
77273
60909
47273
36364
28182
22727
20000
0
0
0
0
25000
0
0
0
0
25000
0
0
-15680
14320
41593
66138
62956
107047
123411
137047
147956
131138
161593
199320
AFTER TAX
CASH FLOW
DISCOUNTED
CASH FLOW
16391
29372
40989
51242
47632
67658
73821
78620
82055
71627
84835
101679
14608
23331
29019
32333
26787
33912
32978
31302
29118
22653
23913
25545
DEPRECIATION
48462
44423
40385
36346
32308
28269
24231
20192
16154
12115
8077
4038
TAXABLE
INCOME
-64142
-30103
1208
29792
30649
78778
99180
116855
131802
119023
153516
195282
TOTAL DISCOUNTED CASH FLOW
INITIAL INVESTMENT
NET PRESENT VALUE OF INVESTMENT
DO YOU WISH TO <1>QUITI
?3
CHANGE OPTIONS:
I-BASIC DATA
2-EARNINGS DATA
3-EXPENSE DATA
4-DEPRECIATION DATA
5-EXIT
WHICH CHANGE OPTION?3
INCOME
TAX
-32071
-15052
604
14896
15324
39389
49590
58427
65901
59511
76758
97641
BEFORE TAX
CASH FLOW
325500
325500
0
<2>ENTER NEW SET OF DATAl OR <3>CHANGE CURRENT
CHANGE EXPENSE OPTIONS?Y
EXPENSE OPTIONS:
I-EXPENSES FOR EACH PERIOD ARE ENTERED
2-UNIFORM EXPENSES
3-STRAIGHT LINE DECLINE
4-RAPID DECLINE IN EARLY YEARS
5-RAPID DECLINE IN LATER YEARS
6-EXIT
WHICH OPTION?5
ENTER EXPENSE LIFE IN YEARS?12
INITIAL EXPENSE?200000
ENTER % OF INITIAL EXPENSE TO BE FINAL VALUE?10
CHANGE EXTRAORDINARY EXPENSES?N
ANY MORE CHANGES?N
CAPDCF, Page 9
RETURN ON INVESTMENT IS
3.8019 PERCENT (ANNUAL>
DO YOU WISH A COMPLETE REPORT?Y
CAPITAL INVESTMENT ANALYSIS
INVESTMENT COST
INVESTMENT TAX CREDIT
NET INVESTMENT COST
PERIOD
1
2
3
4
5
6
7
8
9
10
11
12
PERIOD
2
3
4
5
6
7
8
9
10
11
12
350000
24500
325500
SALVAGE VALUE
35000
LIFE OF INVESTMENT
12
YEARS
INCOME TAX RATE
50.00 PERCENT
NORMAL
EARNINGS
EXTRA
EARNINGS
NORMAL
EXPENSES
EXTRA
EXPENSES
184320
184320
184320
184320
184320
184320
184320
184320184320
184320
184320
184320
0
0
0
0
0
0
0
0
0
0
0
35000
200000
197273
191818
183636
172727
159091
142727
123636
101818
77273
50000
20000
0
0
0
0
25000
0
0
0
0
25000
0
0
-15680
-12953
-7498
684
-13407
25229
41593
60684
82502
82047
134320
199320
AFTER TAX
CASH FLOW
DISCOUNTED
CASH FLOW
16391
15735
16443
18515
9450
26749
32912
40438
49328
47081
71198
101679
15790
14604
14702
15948
7842
21383
25346
30002
35257
32419
47229
64978
DE~RECIATION
48462
44423
40385
36346
32308
28269
24231
20192
16154
12115
8077
4038
TAXABLE
INCOME
-64142
-57376
-47883
-35663
-45715
-3040
17362
40491
66348
69932
126243
195282
TOTAL DISCOUNTED CASH FLOW
INITIAL INVESTMENT
NET PRESENT VALUE OF INVESTMENT
INCOME
TAX
-32071
-28688
-23941
-17831
-22857
-1520
8681
20246
33174
34966
63122
97641
BEFORE TAX
CASH FLOW
325500
325500
0
DO YOU WISH TO (I)QUITI (2)ENTER NEW SET OF DATAl OR ()CHANGE CURRENT.
?1
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
CAPINV
36080
TITLE:
CAPITAL INVESTMENT ANALYSIS
DESCRIPTION:
CAPINV provides a listing of gross cash flow, annual depreciation, annual
tax, net cash flow, and discounted cash flow, for a long-term capital
investment.
INSTRUCTIONS:
The user will be required to input the following values:
Al = initial investment
A2 = number of cash flows
A(l) = for 1= 1 to A2, the values for the cash flow
A3 = depreciable amount
A4 = depreciable life
A5 = salvage value
1. straight line
A6 = method of depreci~tion:
2. double-declining balance
to straight line
3. sum-of-the-years digits
A7 = discount rate
A8 = tax rate
SPECIAL
CONSIDERATIONS:
ACKNOWLE[)GEMENTS:
50 years of cash flows
CAPINV,
page
2
RUN
GET-SCAPINV
RUN
CAPINV
•
CAPITAL INVESTMENT ANALYSIS
•
THIS PROGRAM PRINTS THE GROSS CASH FLOW, ANNUAL DEPRECIATION. ANNUAL
TAX. NET CASH FLOW, AND DISCOUNTED CASH FLOW FOR A LONG-TERM CAPITAL
INVESTMENT.
WHAT IS THE INITIAL INVESTMENT?25000
HOW MANY CASH FLOWS DO YOU WISH TO ENTER110
ENTER 10
1?1150,1600
GROSS CASH FLOWS?2-3500,3000,3000.2150,2150,2500,2500,2000
TYPE DEPRECIABLE AMOUNT, LIFE, AND SALVAGE VALUE1t5000,12,8000
DEPRECIATION METHODSc
I. STRAIGHT LINE
2. DOUBLE DECLINING TO STRAIGHT LINE
3. SUM-OF-THE-YEARS DIGITS
ENTER NUMBER OF DEPRECIATION METHOD?2
ENTER DISCOUNT RATE AND TAX RATE?333,.450
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
YEAR
GROSS CASH
FLOW
AN,-.UAL
DEPREC
ANNl)AL
TAX
NET CASH
FLOW
DISCNTD
CASH FLOW
-----------------------------------------------------------------------2288.01
4150
3050
1
3500
2500
2
3
4
5
6
1
8
9
10
3000
3000
2158
2150
2500
2500
2000
1 750
1600
TOTAL
25350
2083·33
1136.11
141416.76
1205.63
1004.69
837.245
691.704
581."'2
"'84.517
12511.",
412.5
568.75
586.458
694.965
612.888
148.241
586.033
525.861
501.961
5'''''.66
2581.5
2431 .25
2163.54
2055.04
1821.11
1151.16
1413.91
1224.14
1098.03
19602.3
1.-56.2
1026.45
685.243
488·28
325.615
234.2'" 1
141.84
92.1212
61.9889
6800.11
DO YOU WISH ANOTHER RUN • I=YES, 2=NO?2
••••••••••••••••••••••••••••••••••••••••••••••• *•••••••••••••••••••••
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
CSHFL
TITLE:
CASH FLOW ANALYSIS
DESCRIPTION:
Proqram calculates:
INSTRUCTIONS:
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
1.
Present value of up to 4 cash flows for a given cost of capital.
2.
Imp 1i cit rate of return whi ch equates the present value of the
cash flow to zero.
3.
Period in which the payback occurs if aoplicable.
You will be asked to type in:
None
36142
1.
Cost of capital in % per period.
2.
Number of periods (less than 121).
3.
Number of cash flows beinq considered.
CSHFL, paqe 2
RUN
RUN
CSHFL,
WHAT IS THE ESTIMATED COST OF CAPITAL IN PERCENT115
WHAT I S NUMBER O~ PERIODS15
HOW MANY FLOWS ARE BEING CONSIDERED,I,2,3,OR 414
ENTER CASH FLOWS, SEPARATE BY COMMAS,MINUS FOR OUTLAYS
FLOW I,FLOW 2,FLOW 3,FLOW 4
PERIOD 0
INCOME1-100,-100,-100,-100
PERIOD 1
INCOME158,40,30,20
INCOME140,30,20,10
PERIOD 2
INCOME130,20,10,50
PERIOD 3
INCOME120,10,50,40
PERIOD 4
INCOME110,50,40,30
PERIOD 5
FLOW 1
PAYBACK FOR INITIAL INVESTMENT ON FLOW 1 IS IN PERIOD 4
PRESENT VALUE OF FLOW 1 IS 9.85631
RATE OF RETURN EQUATING P.V. OF FLOW TO ZERO IS 20.272
PERCENT
FLOW 2
PAYBACK FOR INITIAL INVESTMENT ON FLOW 2 IS IN PERIOD 5
PRESENT VALUE OF FLOW 2 IS 1.19359
RATE OF RETURN EQUATING P.V. OF FLOW TO ZERO IS 15.5199
PERCENT
FLOW 3
PRESENT VALUE OF FLOW 3 IS-3.7403
RATE OF RETURN EQUATING P.V. OF FLOW TO ZERO IS 13.5603
PERCENT
FLOW 4
PRESENT VALUE OF FLOW 4 IS-4.38605
RATE OF RETURN EQUATING P.V. OF FLOW TO ZERO IS 13.3588
PERCENT
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTR I BUTE 0
TITLE:
DESCR IPTION:
INSTRUCTIONS:
SPECIAL
CONSIDER.ATIONS:
PROG RAM
BASIC
CTCl
36210
CTC MANUFACTURING PARTS CONTROL
These CTC Manufacturing Parts Control programs are part of a total
accounting system written by Computer Terminal Corporation for the HP 2000A.
(See A706-362l3 CTC Payroll Program, A7l7-36212 CTC Projection Programs,
A711-36214 CTC Accounts Receivable, and A708-36211 CTC Inventorv Control
for Finished Products.) Abstracts of the 23 manufacturing parts control
programs are on the following page along with an index to the documentation.
Supplementary documentation is required.
for complete documentation.
Order HP 36210, Option
This package was written for a 2000A with a non-standard disc.
structure has 200 physical records per file.
D~0
The file
Teleprinter output is directed to a 132 column AB Dick printer.
Non-printing control characters direct tne cursor on the HP 2600A CRT.
(The characters are ignored by a standard teletype.)
These differences mean that the user will need to modify the software to
run on a standard HP 2000A system. Although it will RUN without modification on an HP 2000C, its 64 word/record limitation makes inefficient
use of the system.
ACKNOWLEDGEMENTS:
Jack i e She lton
Computer Terminal Corporation
CTC1, Page 2
INDEX TO MANUFACTURING PARTS CONTROL PROGRAMS
I.
INTRODUCTION
A. Brief Description of Programs
B. File Structure
1.
Basic Data Files
2.
Sub-Assembly-Component File
3.
Multiple Pull File
4.
Transaction File
5.
Auxiliary File
6.
Scratch Files
C. File Set Up Procedures
II.
DETAILED INSTRUCTIONS TO PROGRAMS
A. UPDTG
Provides direct updating of (1) any entry within a part number, or (2) a
particular entry for several part numbers. Under type (1) a display of
all the information stored on the part number is given.
B.
UPDTQ
Provides automatic on order or on hand updates including multiple pulls
and returns for sUbassembly-component groups.
Creates a file which is used in doing a play multiple pull. IX I subassemblies are entered with the quantity to be pulled. Each component
part involved and the total quantity to be pulled is placed on this file.
C.
MULFIL
D.
MULPRT
This program uses the file created in program MULFIL to do a play mUltiple
pull. It pretends to pull the quantity 'listed for each component part.
found on the play pull file. The print-out lists the part numbers, the
on hand value before and after the pull, and flags the parts which are short.
A listing of only those parts which are short can also be made.
E.
DELADl
Provides deletion of a part number, addition of a part number, or the
change of a part number on the file to another number not on the file.
F.
SUBDIS
Provides a quick display of a subassembly with its component parts and
the number of times each is used in the subassembly.
G.
CSTANL
Calculates (1) the total cost of all parts on file: on hand, on order,
(2) the total cost of IAI items: on hand, on order, (3) the total cost
of IBI items: on hand, on order, (4) the total cost of IC I items: on hand,
on order, (5) the total maximum cost on hand, (6) the total minimum cost
on hand, and various $ usage values.
H.
UPDTSB
Provides updating of the subassembly-component file which contains each
subassembly and a list of its component parts.
I.
IPRT
Provides formatted data of the entire inventory file.
J.
TPRT
Provides formatted data of the whole transaction file or just the last
five transactions made.
K.
FSUBP
Provides formatted data of the subassembly-component file.
L.
OBSPRT
Provides formatted data of obsolete parts (those having all usages as
zero).
M.
CATPRT
Gives three types of catalogues of the inventory files: (1) part number
and description, (2) part number, description and standard cost, or (3)
part number, description, standard cost, quantity on hand and cost on
hand. The listing is in order of ·part number.
N.
MODG0
Allows for modification of the auxiliary file.
O.
AVE$T
Figures the total average dollar weekly usage for all parts and places
this value on the auxiliary file. The value is used to figure the category and maximum and minimum values for each part number.
P.
USEPRD
Prints all part numbers with their descriptions which are used in the
specified product.
Q.
USECNT
Prints (1) the total number of different parts used in each product and
(2) the total usage of each product.
R.
COUNT
Counts the number of parts in files G1 through G9 and figures the number
of parts left available in each file.
CTCl s Page 3
INDEX TO MANUFACTURING PARTS CONTROL PROGRAMS
S.
CATSRT
Prints part numbers belonging to a specified category (As Bs or C).
Figures cost on hand for each part printed and totals the cost on
hand for each category.
T.
PRDCST
The program figures (1) the cost to build each product or (2) the cost
of a specified subassembly.
U.
OHCLER
This program allows the user to clear the on order values the on hand
values or the usage of one of the 21 products for all parts on one of
the data files (Gl - G9).
V.
TRA$
This program lets the user input part numbers and quantities. This
data is saved on a scratch file which has to be opened before the
program is run. The data can be updated and a Transfer of $ Amounts
report printed.
W.
EXTCST
With this programs the user can enter a part number and quantity and
the program will return with the part descriptions standard costs and
extended cost (standard cost x quantity).
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
TITLE:
DESCRIPTION:
INSTRUCTIONS:
SPECIAL
CONSIDERATIONS:
BASIC
CTC2
36211
CTC INVENTORY CONTROL FOR FINISHED PRODUCTS
These CTC Inventory Control for Finished Products Programs are part of
a total accounting system written by Computer Terminal Corporation for
the HP 2000A. (See A706-36213 CTC Payroll Program, A708-36210 CTC
Manufacturing Parts Control, A711-36214 CTC Accounts Receivable,
A717-36212 CTC Projection Programs.) Abstracts of the 31 inventory
control programs are on the following page along with an index to the
documentation.
Supplementary documentation is required.
for complete documentation.
Order HP 36211, Option D00
This package was written for a 2000A with a non-standard disc.
file structure has 200 physical records per file.
The
Teleprinter output is directed to a 132 column AB Dick printer.
Non-printing control characters direct the cursor on the HP 2600A CRT.
(The characters are ignored by a standard teletype.)
These differences mean that the user will need to modify the software
to run on a standard HP 2000A system. Although it will RUN without
modification on an HP 2000C, its 64 word/record limitation makes
inefficient use of the system.
ACKNOWLEDGEMENTS:
Jackie Shelton
Computer Terminal Corporation
CTC2, Page 2
INDEX TO INVENTORY CONTROL FOR FINISHED PRODUCTS
I.
II.
INTRODUCTION
A.
Brief Description of Programs
B.
File Structure
1.
Unit File
2.
Transaction File
3.
Customer Sort File
PROGRAM INSTRUCTIONS
A.
UPDTIC This program allows the user to add a new unit to the unit files or modify
a unit already on the files. The user can delete a unit through the modification portion of the program. He can also view the information stored on a
unit without making any changes.
B.
ICPRT
This program provides formatted output of the unit files. The user can
specify the beginning and ending units. He can also control the type of
listing to be made by entering values for these ten variables: vendor #,
transaction type, sales location, vendor # location, lease status, field
service location, terms, salesman, agreement #, and tax rate.
C.
ICTPRT
This program provides formatted output of the transaction file which keeps
record of any changes made to the unit files.
D.
TASOLD
This program provides formatted output of those unit~ which are leases sold
to Trans-America. The user can specify the customer number interval he
wants printed.
E.
UPDTAQ
This program allows the user to add several new units to the files at once.
Their data items are the same except for product number, serial number, and
the date.
F.
EXLSE
This program provides formatted output of leases expirinq IX I days from the
current date. The user specifies the unit interval over which the program is
to search and the number of days to expiration. Sales location and lease
status are variable also.
G.
OWNSUM
This program summarizes the ownership of leased and sold units by product.
H.
UNTSUM
This program is a summary of ownership by individual units (leased). It
calculates the remaining life of the lease, the remaining rental billing and
the remaining maintenance billing for each unit.
I.
STPRT
User enters customer number unit locations (up to 50) to be printed for all
products. All standard information is printed. User also specifies transaction, lease status and state name. He can determine the beginning and
ending units to be searched also.
J.
UNTDIS
User enters a product type and serial number and the program displays all
standard information stored on the specified unit.
K.
CTCSUM
The program is a summary of CTC individual leased units. A rental credit
figure is calculated in addition to the information given in program UNTSUM
(except invoice # and lease status). Totals are given at the end of each
product.
L.
ISFPRT
User specifies a certain number of sales locations or field service locations
over which the program should search for units to be printed. It takes one
pass over the files for each location entered (limit of 25)~ user also can
specify the transaction of the units to be printed.
M.
SALPRT
Print out of the unit files keyed on sales location. User enters the sales
location he wants printed. A new page is started for each sales location.
Customer name, transaction and lease status are in decoded form.
N.
SUMALL
The program gives a summary count of all units for each product by transaction
type.
O.
SUMFS
The program summarizes the sold and leased units for each product by sales
location. Total units and maintenance is given for each location.
P.
CUSl
The program prints the product number, serial number and transaction code of
each unit on file which belongs to a user specified customer. The program
can be used for only one customer per pass over the unit files.
CTC2, Page 3
INDEX TO INVENTORY CONTROL FOR FINISHED PRODUCTS
Q.
CUSSRT
This program prints the units belonging to each customer on file. For each pass
over the unit files, the units for 18 sequential customer numbers are found and
printed, however, if a customer has over 352 units on file the program will
abort. All information stored is printed for each unit found.
R.
ICCSRT
This program sorts the units by customer number and agreement number. It sorts
20 customers at a time, placing the customer number and product/serial number of
each unit belonging to the customer on the customer sort file. Several reports
can be generated from this file.
S.
SALEXP
Prints units expiring X days from the current date entered by sales location.
The user enters the sales locations (up to 25) to be printed.
T.
ICTANL
This program does an analysis on the transaction file. It finds each product/
serial number on the file and prints the final status of the unit as found on
the unit files.
U.
FREUNT
Prints the units (product/serial number) which are provided for in the files
but are not yet in use.
V.
AGETRA
This program ages the date found on each unit on file. The user has the following
options: unit interval to be searched and transaction type. If the transaction
type equals 2, the user needs to specify whether the customer number of the unit
should be equal to 9999 or not equal to 9999.
W.
INSTLS
Prints by product/serial number, the leased units on file whose date falls
between a beginning and ending date inclusive specified by the user.
X.
TAPAY
Picks up all TA units which are not leases. Prints product, serial number, date
and invoice number for each unit found. Columns for lease period, net amount,
tax rate, extended tax and total are given to be filled in by user.
Y.
PRT22
This program searches the unit files to find all customers which have 2200
products which are in transit, sold, or leased. The program then sorts them
into customer number order and prints their name/addresses (formatted for
labels).
Z.
AALSES
Prints an analysis of annual leases for account 2801-2802. It picks up only
annual leases belonging to TA or CTC. Remaining life and revenue of the lease
is also calculated and printed.
Z-l. CBIPRT
This program prints the cycle billing each month. The program prints invoices
for each customer falling in an interval specified by the user. It picks up
the leased units only from the customer sort file. Thus, that file must be up
to date when the cycle billing is run.
Z-2'. ICMODQ
This program allows the user to quickly update a particular data item of several
units. The user picks the data item he wants to modify and enters the product/
serial number and new value of each unit to be modified.
Z-3. ICCPRT
This program prints units by customer and agreement number as found on the
customer sort file. The user can specify the transaction and lease status
of the units to be printed.
Z-4. NACBIL
Prints the NAC leased units by customer as found on the customer/unit sort file.
Z-:i. EXLSEA
Prints units expiring in X days by customer and agreement number as found on the
customer/unit sort file.
III. APPENDIX
A. General Procedures
B. Serial Number Limits
C. Data Entry Boundaries (Code Breakdown)
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
CTC3
36212
TITLE:
CTC PROJECTION
DIESCRIPTION:
These CTC Projection Programs are part of a total accounting system written
by Computer Terminal Corporation for the HP 2000A. (See A706-36213 CTC Payroll Program, A708-36210 CTC Manufacturing Parts Control, A711-36214 CTC
Accounts Receivable, and A708-36211 CTC Inventory Control for Finished
Projects.) Abstracts of the 10 projection programs are on the following
page along with an index to the documentation.
INSTRUCTIONS:
SPECIAL
CONSIDERATIONS:
PROGRru~S
Supplementary documentation is required.
for complete documentation.
Order HP 36212, Option
This package was written for a 2000A with a non-standard disc.
structure has 200 physical records per file.
D~0
The file
Teleprinter output is directed to a 132 column AB Dick printer.
Non-printing control characters direct the cursor on the HP 2600A CRT.
(The characters are ignored by a standard teletype.)
These differences mean that the user will need to modify the software to
run on a standard HP 2000A system. Although it will RUN without modification on an HP 2000C, its 64 word/record limitation makes inefficient use
of the system.
ACKNOWLEDGEMENTS:
Jackie Shelton
Computer Terminal Corporation
CTC3, Page 2
I.
II.
INDEX TO PROJECTION PROGRAMS
I NTRODUCTI ON
A. Brief Description of Programs
B. File Structure
1.
Basic Input File (IN1)
2.
Intermediate File (IN2)
3.
Income Statement File (Rl)
4.
Cash Flow File (R2)
5.
Balance Sheet File (R3)
DETAILED INSTRUCTIONS TO PROGRAMS
A. INMAIN
This program provides complete maintenance of the input file (IN2). The user can
(1) create the input file, (2) modify any item of the input file, (3) obtain a listing
of the input file, or (4) destroy the input file (set all values to zero).
This program calculates the intermediate file (IN2).
B. IN2CAL
This program sets up the income statement file (Rl). The user enters manual inputs
C. INSTl
needed which he can also modify. The user can indicate the month interval over which
the program should calculate (1 to 48).
D. R1PRT
This program sets up the income statement. User indicates the projected year to be
printed and if he wants the listing by month or quarter.
E. PJPLAC
The program shows the projected placement of each product by sale type; i.e., the
number of units projected for each product. Totals are given at the end of each
product. A separate listing of totals only is given at the end of the program.
F. CSHFLO
This program sets up the projected cash flow file (R2). Manual inputs for initial
and monthly items are needed which can be modified also. User indicates the month
interval to be set up (1 to 48).
G. R2PRT
This program prints the cash flow statement. User indicates the projected year to
be printed and if he wants the listing by month or quarter.
This program sets up the balance sheet file (R3). User can enter and modify beginH. BSHEET
ing balances. He also specifies the monthly interval (1 to 48) over which the file
is to be set up.
This program prints the balance sheet. User indicates projected year to be printed
I. R3PRT
and if he wants the listing by month or quarter.
Allows the user to expand the data on the basic data file (IN1) and the monthly
J. EXPROJ
constants on the income statement file (Rl) from a base year and month through year
4, month 12. This is done on a yearly % which eliminates the user manually inputting
each quantity and constant.
III. APPENDIX
A. Sales Types and Abbreviations Used (Listed in Order Stored)
B. Product Model Numbers (Listed in Order Stored)
C. Description of Intermediate File Calculations
D. Income Statement Format and Calculations
E. Income Statement Constants
F. Cash Flow Format and Calculations
G. Cash Flow Constants
H. Balance Sheet Format and Calculations
I. Balance Sheet Constants
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
CTC4
36213
TITILE:
CTC PAYROLL PROGRAMS
DESCRIPTION:
These CTC Payroll Programs are part of a total accounting system written
by Computer Terminal Corporation for the HP 2000A. (See A717-36212 CTC
Projection Programs, A708-36210 CTC Manufacturing Parts Control,
A711-36214 CTC Accounts Receivable, A708-36211 CTC Inventory Control for
Finished Products.) Abstracts of the 34 payroll programs are on the
following page along with an index to the documentation.
INSTRUCTIONS:
Supplementary documentation is required.
for complete documentation.
SPECIAL
CONSIDERATIONS:
This package was written for a 2000A with a non-standard disc.
structure has 200 physical records per file.
Order HP 36213, Option D00
The file
Teleprinter output is directed to a 132 column AB Dick printer.
Non-printing control characters direct the cursor on the HP 2600A CRT.
(The characters are ignored by a standard teletype.)
These differences mean that the user will need to modify the software to
run on a standard HP 2000A system. Although it will RUN without modification on an HP 2000C, its 64 word/record limitation makes inefficient use
of the system.
ACKNOWLEDGEMENTS:
Jackie Shelton
Computer Terminal Corporation
CTC4, Page 2
I.
II.
I NTRODUCTI ON
A.
Brief Description of Each Program
B.
Description of File Structure
1. Employee Data Base Fil es
2. Employee Pay Records
3. Payroll Transaction File
4. Auxiliary File
5. Commission/Adjustment File
6. State/Department/Employee # Sort File
7. Alphabetic Sort File
8. Employee Earnings History Files
DETAILED DESCRIPTION OF EACH PROGRAM
A.
EADD
Adds a new employee to the employee data base files. The employee number is
assigned sequentially by the program beginning with number 1001.
B.
EMOD
Modifies any item under the specified employee number in the employee data base
fil es.
EFPRT
Provides formatted output of the employee data base files.
C.
Provides formatted output of the payroll transaction file which keeps record of
ETPRT
D.
any changes made to the payroll files.
Sorts the employee names into alphabetical order printing the employee numbers in
E.
ESRTl
that order on a separate file.
Prints a cross reference employee catalogue. One listing prints the employee numbers
ECAT
F.
in ascending order with their corresponding names; the other listing prints the employee names in alphabetical order with their corresponding numbers.
PAYPER Allows entry of the bi-weekly payroll hours, commissions, or adjustments.
G.
PAYPRF Provides formatted output of the regular bi-weekly payroll hours entered with proH.
gram PAYPER.
PAYREC 1. Allows the clearing of all employee accrued vacation or accrued sick hours in
I.
the current pay records.
2. Allows the modification of any item of the current pay records (i.e .• hours or
earnings).
3. Allows the initialization or modification of the accumulated quarter-to-date
(QTD) and year-to-date (YTD) totals.
4. Allows the clearing of all QTD. YTD, or both totals.
Clears the commission/adjustment file. All information on the file is lost.
CLRAJ
J.
C/APRF 1. Gives a proof of commissions entered with program PAYPER. The F.I.C.A., Federal.
K.
Disability. and Net Pay is figured during this run. User indicates when commissions are to be added to the QTD and YTD totals.
2. Gives a proof of adjustments entered with program PAYPER. User indicates when
adjustments are to be made to the QTD and YTD totals.
Enables user to modify the commission and/or adjustments input with program PAYPER.
MODAJ
L.
M.
ST/DPT Sorts all employee numbers on file into states and into departments within each
state printing the state. department, and employee numbers on a file in that order.
PAYFIG Figures the current earnings. F.I.C.A .• and Federal tax for the current bi-weekly
N.
payroll. This information is stored in each employee's current pay record.
Formatted print out of the information to be printed on the checks. Program assigns
CKREG
O.
check numbers and adjustments, commissions and YTD totals are included in the
listing. Department. state, and company totals are given for both adjustments and
the current pay (regular and commissions). Current pay is not added to QTD and YTD
tota 1s with th is program!!
P.
EMPCNT Counts the number of active employees in each state giving a listing of this count.
ACCPRT Prints the QTD and YTD accumulated totals for all employees on file.
Q.
QTRLEG Prints the quarterly payroll tax ledger required at the end of each quarter with
R.
state and company totals.
Prints the 941A forms required at the end of each quarter with state and company
941 A
S.
totals.
W2FORM Prints the W-2 Forms required at the end of each year.
T.
EMPLAB Prints (1) data base information of specified employee on labels. or (2) time card
U.
labels for all active, non-exempt employees.
Prints the payroll calculation edit required after each bi-weekly payroll run.
V. EDIT
(continued on next page)
CTC4, Page 3
II.
DETAILED DESCRIPTION OF EACH PROGRAM (continued)
W.
CURADD Adds the payroll for the current period to the QTD and YTD totals. It also places
in the employee earings file each check amount, number, and date issued an employee
that current pay period (regular check, adjustment check, and commission check).
This should be run after the check register and before the checks are printed.
X.
EMPDEL Deletes employees from the payroll files. User can also instruct the program to
pick up all the deleted employee numbers so they can be re-assigned to new employees
with program EADD. This program should be run at the end of each year.
Y.
LABDIS Prints the labor distribution report required after each bi-weekly payroll run.
Z.
CKPRT Prints checks for either the regular payroll or the commissions.
Z-l. WKCOMP Prints the workman's compensation distribution report required at the end of each
bi-weekly payroll.
Z-2. ERNHIS The program provides 3 user options: (1) a complete earnings history for each
employee on file, (2) an earnings history for one particular employee only, or
(3) to clear the earnings history files for a new quarter.
Z-3. SALREV This is a special report which prints the information stored in the data base files
which pertains to each employee's salary. User enters the department numbers of
those he wants printed.
Z-4. VACSIC The user has 2 options: (1) to add the monthly accrued vacation and sick hours to
each employee's pay records, or (2) to deduct the vacation and sick hours earned
during the current pay period from the accrued vacation and sick hours.
Z-5. VSPRT This program gives formatted output by state and department of each employee's accrued vacation and sick hours. State and company totals are given also.
Z-6. INTVS Allows user to quickly initialize the vacation or sick accrued hours of specified
employees.
Z-7. CKA/C Prints a check register on commissions and adjustments only.
III.
APPENDIX
A.
General Procedures
B.
Bi-Weekly Payroll Procedures
C.
Quarterly Procedures
D.
Yearly Procedures
E.
List of State Codes and Corresponding Cut-offs
F.
Department Codes
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
CTC5
36214
TITLE:
CTC ACCOUNTS RECEIVABLE
DESCR IPTION:
These CTC Accounts Receivable programs are part of a total accounting
system written by Computer Terminal Corporation for the HP 2000A. (See
A717-36212 CTC Projection Programs, A706-36213 CTC Payroll Programs,
A708-36210 CTC Manufacturing Parts Control, A708-36211 Inventory Control
for Finished Products.) Abstracts of the 13 accounts receivable programs
are on the following page along with an index to the documentation.
INSTRUCTIONS:
Supplementary documentation is required.
for complete documentation.
SPECIAL
CONSIDERi~TIONS:
Order HP 36214. Option D00
This package was written for a 2000A with a non-standard disc.
structure has 200 physical records per file.
The file
Teleprinter output is directed to a 132 column AB Dick printer.
Non-printing control characters direct the cursor on the HP 2600A CRT.
(The characters are ignored by a standard teletype.)
These differences mean that the user will need to modify the software to
run on a standard HP 2000A system. Although it will RUN without modification on an HP 2000C, its 64 word/record limitation makes inefficient use
of the system.
ACKNOWLEDGEMENTS:
Jackie Shelton
Computer Terminal Corporation
CTC5, Page 2
INDEX TO ACCOUNTS RECEIVABLE
I.
II.
INTRODUCTION
A. Brief Description of Programs
B. File Structure
1. Name File
2. Invoi ce Fil e
3. Transaction File
4. Alphabetic File
5. Auxiliary File
6. Accounting Distribution File
C. File Set Up Procedures
DETAILED INSTRUCTIONS TO PROGRAMS
Provides (1) entry of new invoices, credit invoices and payments or (2) modification
A. INV
of existing invoices under a specified customer number.
B.
CUSADR
Allows user to add a new customer to the name/address file or modify the name/address
of a customer already on file.
C.
NEWAGE
Provides three types of formatted listings of the files: (1) an aged listing of CTC
owned invoices only. (2) an aged listing of TA owned invoices only. and (3) an aged
listing of all invoices on file. The user can obtain a listing of all customers. one
customer. or just the grand total of the type of listing specified.
D.
CATLOG
1::.
SORT2
Sorts the name file into alphabetical order printing the customer numbers in that
order on a separate file which is used in Program--CATLOG.
F.
NEWTRA
Provides (1) formatted output of the entire accounting transaction file and (2)
formatted output of just the LAST X transactions on file.
G.
ACCLEG
Provides additional formatted output of the transaction file. It picks up only
those transactions which are new invoices. credit invoices. payments or deletions
made with Program--INV. Totals are given at the end of the listing to enable the
user to check for data entry errors.
H.
AGETOP
Ages the top X customers who have accounts more than 60 days over due.
specifies the top X he wants aged up to 50.
I.
AGEPG
Ages a specified interval or group of customer numbers placing each customer's
aging on a separate page with separate headings. No grand totals are given.
J.
AGE60
Ages invoices over 60 days old only. The program prints the aging in order of
of customer number. Grand totals are given at the end.
K.
ARNLAB
Prints customer names and addresses on mailing labels.
of customer number or alphabetically.
L.
ARINPT
Allows the user to (1) input account data groups onto the account distribution
file or (2) obtain a formatted listing of the account distribution file.
M.
ARSORT
Sorts the account data groups on the account distribution file by account number
or reference number. Only 350 groups can be sorted at one time.
Provides the formatted output of two catalogues: (1) a customer number-name/
and (2) a customer name/address-number alphabetical listing.
address-~isting
User
The labels may be in order
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
CTC6
36638
TITLE:
CTC ACCOUNTS PAYABLE
DESCRIPTION:
These CTC Accounts Payable programs are part of a total accounting system
written by Computer Terminal Corporation, now named Datapoint Corporation.
(See also A706-36213 CTC Payroll Program, A717-36212 CTC Projection Programs, A71l-36214 CTC Accounts Receivable, A708-36211 CTC Inventory Control
for Finished Products, and A708-362l0 CTC Manufacturing Parts Control.)
Abstracts of the 24 accounts payable programs are on the following page
along with an index to the documentation.
INSTRUCTIONS:
Supplementary documentation is required.
for complete documentation.
SPECIAL
CONSIDERATIONS:
Order HP 36638, Option
D~0
This package was written for a 2000A with a non-standard disc, but has
been modified to run on a 2000F.
Teleprinter output may be directed to a 132 column AB Dick, or equivalent printer.
Non-printing control characters direct the cursor on the HP 2600A CRT.
(The characters are ignored by a standard teletype.)
Programs APDTAP and APDSTP make use of a Datapoint 2200 Computer with
cassette tape facilities. They are included in this package as an optional feature for any users who have this capability.
These differences mean that the user will need to modify the software to
run on a standard HP 2000A system. Although it will RUN without modification on an HP 2000C, or 2000C'/F, its 64 word/record limitation makes
inefficient use of the system.
ACI<:NOWLEDGEMENTS:
Jack i e Shelton
Datapoint Corporation
CTC6, Page 2
INDEX TO ACCOUNTS PAYABLE PROGRAMS
I.
INTRODUCTION
A. Brief Description of Programs
B. File Structure
1. Name/Address File
2. Daily Input File
3. Checks Held File
4. Check History File
5. Auxillary Data and Name Sort File
6. Scratch Files
C. File Set Up Procedures
II.
Detailed Program Instructions
A.
APNAME
B.
APNSRT
C.
APNCAT
D.
APCHIS
E.
APCHPT
F.
APINPT/
APIPRT
G.
APCKRG
H.
APCKPT
APCKl
I.
APDIST
J.
APADCH
K.
APPERG
L.
APCKAS
M.
N.
APCH#P
APDTAP/
APDSTP
O.
APNLAB
P.
APCHAG
Q.
APCHGA
R.
APAGV/
APAGVP
This program allows the user to enter new vendors into the name/address
file or modify the name/address of a vendor already on file.
This program sorts the vendor names into alphabetical order printing the
vendor numbers in that order on the auxiliary data and, sort file.
With this program, the user can obtain (1) a formatted catalogue of vendor
number order or alphabetically; or (2) a list of all vendor numbers not in
use.
This program prints the check history of all vendors who have one. User
specifies the vendor number interval to be printed.
This program allows the user to obtain (1) a quick display of all checks
in the checks held file for a particular vendor or (2) a formatted print
out of the checks held by vendor type and vendor number or (3) a grand
total only of check amounts on the file.
This program allows the user to input invoices for vendors on file, modify
invoices already on the input file, print the input file (in order of
entry), or clear all data from the input file. (Chains to APIPRT)
This program prints the check register. Auto checks (checks printed by
the computer) are listed first with a total amount at the end .• Hand
written checks follow with a total amount also. A total of both auto
and hand checks is given at the end. The check numbers are assigned to
each invoice with Program--APCKAS. When that program is finished, it
automatically runs APCKRG. However, APCKRG can be run alone if the
check numbers have been assigned.
This program prints the auto checks found on the check register. Proper
check forms need to be loaded into the printer. The two programs have
slightly different formatting.
This program prints an account distribution determined from the account
numbers of the invoices on the input file. Totals for each account
number and a grand total are also given.
This program adds each check found on the check register to the checks
held file. This should be run only after a correct check register has
been obtained.
This program allows the user to delete checks from the checks held file.
The user indicates if the checks to be deleted are voided or released and
then enters the checks he wants purged. The program deletes the checks
from the checks held file and adds them to the check history file if there
is an appropriate history.
This program assigns auto check numbers to the invoices on the input file.
When all check numbers have been assigned, the program will go on to
print the check register (Program--APCKRG).
This program prints the checks held file in check number order.
This program prints an account distribution as in program APOIST. However,
at the end of the distribution report, APDTAP chains to APDSTP which prints
an 80 character string (general ledger entry) for each account number, grand
total, and batch total of the distribution on a cassette tape in the front
deck of a 2200 version II machine.
This program prints vendor name/addresses on tab labels in vendor number or
alphabetical order, or prints a group of user specified vendor numbers.
This program provides the user with an aging of the checks held file in
order of vendor number.
This program ages the checks held file as in program APCHAG but prints the
grand totals only.
A combination of these two programs will provide the user with an aging of
the checks held file as in APCHAG; however, this aging is sorted by vendor
type also.
CTC6, Page 3
S.
APAGPG
Ages the checks held file by vendor placing each vendor on a separate page. The
user may specify an interval or group of vendor numbers he wishes to be aged.
T.
CTC6
This program may be used to initialize the files.
form the initialization.
Just GET and RUN CTC6 to per-
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
DEPCOM
36082
TITLE:
DEPRECIATION METHOD COMPARISON
DESCRIPTION:
This program computes and prints the monthly depreciation of a given
investment by four methods: straight line~ double declining balance,
sum-of-the-year's-digits~ and 150% declining ba1ance~ and provides an
output for easy, direct comparison.
INSTRUCTIOINS:
After
RUN~
DEPCOM is mostly self-explanatory.
If the user is familiar with the program, and would rather use READ
statements than INPUT statements~ alter the program as follows:
9003 READ Z$~I1~Sl~Ll,Al~Zl~R~Y
9005 GOTO 9088
9900 DATA Y if yearly summary~ N if not, investment salvage
value~ life~ month~ year of investment~
rate of return~ option indication.
SPECIAL
CONSI DERATIONS:
ACKNOWLE[)GEMENTS:
Depreciable life must be an integer greater than one and less than 76.
(To alter high value~ change dimension statements for A,B,C,D,H,I,J,K
in lines 9112 and 9114, and check in line 9046.)
DEPCOM,
page
2
RUN
GET-SDEPCOM
RUN
DEPCOM
•• DEPRECIATION METHOD COMPARISON ••
THIS PROGRAM COMPUTES AND PRINTS DEPRECIATION BY MONTHS BY
FOUR METHODS. STRAIGHT LINE. DOUBLE DECLINING BALANCE. SUM-OFTHE-YEARS-DIGITS. AND 150 PERCENT DECLINING BALANCE.
IF ONLY A YEARLY SUMMARY IS DESIRED TYPE Y. OTHERWISE N.
1N
WHAT IS THE AMOUNT OF YOUR INVESTMENT1?35000
WHAT IS THE SALVAGE VALUE??15000
WHAT IS THE DEPRECIABLE LIFE (IN YEARS)??5
IN WHICH MONTH. AND IN WHICH YEAR. IS YOUR INVESTMENT MADE?
(PLEASE ENTER AS MM.19YY)?7.1969
WHAT IS THE DISCOUNT RATE (IN DECIMAL NOTATION) FOR COMPUTING
THE PRESENT VALUE OF THE ANNUAL DEPRECIATION1?15
YOU HAVE THE OPTION TO SWITCHOVER FROM THE DOUBLE DECLINING
BALANCE METHOD TO THE STRAIGHTLINE METHOD AT APPROPRIATE TIMES.
TO PREVENT ANY SWITCHOVER PLEASE TYPE 0.
TO SPECIFY A SPECIFIC YEAR OF SWITCHOVER. PLEASE TYPE THE YEAR.
TO OBTAIN AN AUTOMATIC SWITCHOVER WHEN THE ANNUAL STRAIGHTLINE
DEPRECIATION BECOMES GREATER THAN THE DOUBLE DECLINING BALANCE
VALUE. PLEASE TYPE 1.?1
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
DATE
STRAIGHTLINE DBL DECLINING SUM-OF-THE
150% DECLINING
YR
MO
BALANCE
YEARS'-DIGITS
BALANCE
1969
0
0
0
I
0
0
1969
0
0
2
0
0
0
1969
0
3
0
0
1969
~
0
0
0
1969
0
0
5
0
0
1969
6
0
0
0
0
7
1969
0
0
0
0
666.667
555.556
1969
333.333
500
8
666.667
555.556
333.333
1969
500
9
666.667
555.556
333.333
1969
10
500
666.667
555.556
1969
333.333
500
I1
555.556
666.667
1969
12
333.333
500
TOTAL 196'
1666.67
3333.33
2777.78
2500
CUM DEPR
1666.67
3333.33
2777.78
2500
UNDEPR BAL
18333.3
16666.7
17222.2
17500
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
666.667
666.667
666.667
666.667
666.667
666.667
666.667
555.556
555.556
555.556
555.556
555.556
555.556
555.556
~00
~~4.~~4
400
444.4~4
---------1970
I
1978
1970
1970
1970
1970
1'70
1970
1970
1970
1970
1970
2
3
~
5
6
7
8
9
10
II
12
~00
4~4.44~
~00
~44.4~4
400
~44.444
500
500
500
500
500
500
500
350
350
350
350
350
TOTAL 1970
4000.
6666.67
6111.11
5250
CUM DEPR
5666.67
10000
8888.89
7750
UNDEPR BAL
14333.3
10000
11111.1
12250
DEPCOM,
---------1971
1
page
333.333
333.333
333.333
333.333
333.333
333·333
333.333
333.333
333.333
333.333
333.333
333.333
Al00
Al00
0400
Al00
-4"0
<400
<400
200
200
200
200
200
AlAlAl.AlAlAl
AlAl4.4AlAl
AlAlAl.AlAlAl
04AlAl.4Al4
4044.4<4<4
4<4<4.4<44
<4<4<4.<44<4
333.333
333.333
333.333
333.333
333.333
350
350
350
350
350
350
350
2Al5
245
245
2<45
2<45
TOTAL 1971
<4000.
3800
<4777.78
3675
CUM OEPR
9666.67
13800
13666.7
1 1425
UNOEPR SAL
10333.3
6200
6333.33
8575
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
200
200
200
200
200
200
200
200
200
200
200
200
333.333
333.333
333.333
333.333
333.333
333·333
333.333
222.222
222.222
222.222
222.222
222.222
2<45
245
2Al5
245
2Al5
2<45
2<45
171.5
171 .5
171 .5
171 .5
171 .5
TOTAL 1972
4000.
2Al00
3444.<4<4
2572.5
CUM OEPR
13666.7
16200
17111.1
13997.5
UNOEPR SAL
6333·33
3800
2888.89
6002.5
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
333.333
200
200
200
200
200
200
200
200
200
200
200
200
222.222
222.222
222.222
222.222
222.222
222.222
222.222
111.111
111.111
111.111
Itl.l11
111.111
171.5
171 .5
171.5
I 71 .5
171 .5
171 .5
171.5
120.05
120.05
120.05
120.05
120.05
TOTAL 1973
<4000.
2<400
2111.11
1800.75
CUM OEPR
17666.7
18600
19222.2
15798·2
UNOEPR SAL
2333.33
1<400
777.781
<4201 .75
333.333
333.333
333.333
333.333
333.333
333.333
333.333
0
0
0
0
200
200
200
200
200
200
200
0
0
0
0
0
111.111
111.111
111.111
111.1I1
Ill.11I
111.111
111.111
0
0
0
0
0
120.05
120.05
120.05
120.05
120.05
120.05
120.05
0
0
0
0
0
1971
1971
1971
1971
1971
1971
1971
1971
1971
1971
1971
2
3
04
5
6
7
8
9
10
II
12
---------1972
1
1972
1972
1972
1972
1972
1972
1972
1972
1972
1972
1972
2
3
04
5
6
7
8
9
10
I1
12
---------1973
1
1973
1973
1973
1973
1973
1973
1973
1973
1973
1973
1973
2
3
4
5
6
7
8
9
10
11
12
---------197<4
I
197<4
197<4
19704
1974
19704
1974
19704
1974
197<4
197<4
1974
2
3
<4
5
6
7
8
9
10
II
12
TOTAL 1974
"
2333.33
1 <400
777.778
8Al0.35
CUM OEPR
20000
20000
20000.
16638.6
UNOEPR BAL
0
0
0
3361.<4
3
DEPCOM,
page
4
THE PRESENT VALUE or THE DEPRECIATION AT THE BEGINNING OF
AT .15
IS AS rOLLOWSI
13408.6
14729.5
14647.5
1969
12219.2
••••••••••••••••••••••••••••••••••••••• ** ••••• *** •• **** •••••• *•• *••••
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
DROIPB
TITLE:
DISCOUNTED RETURN ON INVESTMENT AND PAYBACK
DESCRIPTION!:
DROIPB is a BASIC language program for calculating Discounted Return on
Investment and PayBack.
INSTRUCTlor~s:
1.
2.
3.
4.
5.
ACKNOWLEDGEMENTS:
36179
The program will first ask for INITial INVestment, which you should
enter without commas between thousands and hundreds (because commas
are input delimiters), followed by carriage return. Then you will
be asked to type in LIFE of the investment, which you should also
follow by carriage return.
After initial investment and life, you will be asked for CAPital
COST and DEPReciable LIFE (YRS) in separate queries. The CAP COST
query is repeated, allowing you to enter the total investment in
smaller parts, each with its own depreciable life. When youlve
typed in the last CAP COST and DEPR LIFE you wish to enter, type a
zero in response to the CAP COST query to continue with the remainder
of the program.
NOTE: Do not enter a depreciable life greater than the useful
LIFE typed in answer to the second query.
The program next lists three choices of depreciation method and
lasksl you which method you want to use in figuring return on
investment and payback. For straight line depreciation, you would
type in a Ill, ,as in the Program Use Example. For double decl ining
balance to straight line depreciation, you would type a 12 1, and for
sum-of-years digits depreciation, you would type a 13 1•
The next step is entry of cash flow figures for each year of the
investmentls useful LIFE. As with all the other queries, your
answers must be followed by carriage return.
After you type in your answer to the TAX RATE %? query and
carriage return, the program prints out interim calculations of
depreciation, taxable income, taxes, and cash flow after tax. If
you are using depreciation method 2 or 3, depreciation may be
greater than first or even second year cash flow. When that is true,
the DROIPB program lists a negative taxable income for the investment
and adds the reduction in taxes to cash flow after taxes. When the
investment ;s recovered, the program types out years to payback and
rate or return, as shown in the example. If the investment is not
recovered, the program tells you so, along with other information.
Ted Pros ke
Hewlett-Packard/Automatic Measurements Division
DROIPB,
page
2
RUN
RUN
DROIPB
*
DISCOUNTED RETURN ON INV
INIT INV
*
S:?129876.8~
1. I FE (YRS): ? 7
CAP COST Ss112~2~~
DEPR LIFE (YRS):15
CAP COST S:?9676.7~8~
DEPR LIFE (YRS) :?"1
CAP COST S:?~
DEPR METHODS: 1. STRT l.INEI
2. DBI. DECI. BAL TO STRT l.INEI
3. SUM OF YRS DIGITS. *•• USE -METHOD NO.:?1
CASH
YEAR
YEAR
YEAR
YEAR
YEAR
YEAR
YEAR
FLOW
1
2
3
4
5
6
7
1125314.56
115~377.47
1 169174.66
1169174.66
1169174.66
1169174.66
1169174.66
TAX RATE %152
CASH FLOW
DEPR
125315.
33716.8
15~377.
24~4~
169175.
169175.
169175.
169175.
169175.
24~4~
24~4~
24~4~
~
~
TAXABLE
INCOME
91597.8
126337.
145135.
145135.
145135.
169175.
169175.
YEARS TO PAY BACK
1.61634
RATE OF RETURN
62.8425
%
=
DONE
TAXES
CASH FLOW
AFTER TAX
7547~.
77683.7
84682.
93 7~4. 6
7547~.
937~4.6
4763~.8
65695.5
7547~.
937~4.6
8797~.8
812~3.8
8797~.8
812~3.8
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CON T RIB UTE D PRO G RAM
TITLE:
BASIC
COST OF EQUITY CAPITAL
EQUITY
36083
DESCRIPTION:
EQUITY computes the cost of equity capital by computing the dividends and
the share price for future periods, and finds the discount rate by equating
the present value of the stream to the current share price.
INSTRUCTIONS:
The user must enter the following values:
P
= current price per share
D(I) = current dividend per share
N = number of growth segments (each segment is assumed to have a
different growth rate, and may cover one or more periods).
G(I) = for each segment the growth rate in decimal
L(I) = for each segment the last period covered by the growth rate
of that segment
SPECIAL
CONSIDERATIONS:
1.
2.
ACKNOWLEIDGEMENTS:
20 growth segments, and 100 periods
To increase, change dim-statements in lines 9105 and 9110
100 iterations on the search and compare routine
EQUITY, page 2
RUN
GET-SEQUITY
RUN
EQUITY
•
COST
O~
EQUITY CAPITAL
•
THIS PROGRAM WILL COMPUTE THE COST O~ EQUITY CAPITAL BY COMPUTING DIVIDENDS AND THE SHARE PRICE ~OR ~UTURE PERIODS. CBASED ON THE GORDON
MODEL). AND THEN ~IND THE DISCOUNT RATE BY EQUATING THE PRESENT VALUE
O~ THE STREAM TO THE CURRENT SHARE PRICE.
PLEASE ENTER THE CURRENT PRICE/SHARE. AND DIVIDEND/SHARE?1
~00.10
HOW MANY GROWTH SEGMENTS ARE THERE?8
~OR
EACH GROWTH SEGMENT. ENTER THE GROWTH RATE IN DECIMAL. & THE LAST
PERIOD ~OR
E~~ECTIVE
STOP
RUN
EQUITY
•
COST
O~
EQUITY CAPITAL
•
THIS PROGRAM WILL COMPUTE THE COST O~ EQUITY CAPITAL BY COMPUTING DIVIDENDS AND THE SHARE PRICE ~OR ~UTURE PERIODS. CBASED ON THE GORDON
MODEL). AND THEN ~IND THE DISCOUNT RATE BY EQUATING THE PRESENT VALUE
O~ THE STREAM TO THE CURRENT SHARE PRICE.
PLEASE ENTER THE CURRENT PRICE/SHARE. AND DIVIDEND/SHARE1100.10
HOW MANY GROWTH SEGMENTS ARE THERE16
~OR
EACH GROWTH SEGMENT. ENTER THE GROWTH RATE IN DECIMAL. & THE LAST
PERIOD ~OR EACH SEGMENT.
SEGMENT I
1.02.2
SEGMENT 2
1.03.4
SEGMENT 3
1.04.6
SEGMENT 4
?05.10
SEGMENT 5
1.0~.12
SEGMENT 6
1.07.15
SEGMENT 7
1.08.20
SEGMENT 8
1.10.25
E~~ECTIVE
••••••••••••••••••••••••••••••••••••••••••• *•••••• *.* •••••••••••••• *••••
A SHARE PRICE O~ S 100 • DIVIDEND O~ S 10
• AND INITIAL GROWTH
RATE O~ 2
%. YIELD A COST O~ EQUITY CAPITAL O~ 15.74
PERCENT.
DO YOU WISH TO RUN SOME DI~~ERENT DATA?
ENTER 'e' ~OR ALL NEW IN~QRMATIONENTER '.' ~OR SAME SHARE PRICE & DIVIDEND. NEW GROWTH RATES OR PERIODS.
ENTER '2' ~OR SAME GROWTH RATES & PERIODS. NEW SHARE PRICE OR DIVIDEND.
ENTER '3' TO TERMINATE.
12
PLEASE ENTER THE CURRENT PRICE/SHARE. AND DIVIDEND/SHARE1100.5
A SHARE PRICE O~ S lee • DIVIDEND O~ S 5
• AND INITIAL GROWTH
RATE O~ 2
%. YIELD A COST O~ EQUITY CAPITAL O~ 12-45
PERCENT.
DO YOU WISH TO RUN SOME DI~~ERENT DATA1
ENTER 'e' ~OR ALL NEW IN~ORMATION.
ENTER 'I' ~OR SAME SHARE PRICE & DIVIDEND. NEW GROWTH RATES OR PERIODS.
ENTER '2' ~OR SAME GROWTH RATES & PERIODS. NEW SHARE PRICE OR DIVIDEND.
ENTER '3' TO TERMINATE.
13
••••••••••••••••••••••••••••••••••••••••••• *••••••••••••••••••••••••
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
EXDRSK
36084
TITLE:
EXTENDED RISK ANALYSIS _
DESCRIPTION:
Dependent upon a number of estimates, EXDRSK performs an extended risk
analysis, determining the advantages or disadvantages involved in making
certain financial investrrents. The output is in the form of the average
cash flows per future period, the expected payback period, the expected
rate of return, and the probability of various rates of return.
INSTRUCTIONS:
ACKNOWLEDGEMENTS:
In order to determine the potential risk involved in making a given investment, some estimates of expenditures are needed for future periods. Eight
factors are consi dered:
1. Investment amount
2. Market Size (units)
3. Selling price/unit
4. Share of market
5. Variable costs ($/unit)
6. Fixed cost ($/period)
7. Useful life (periods)
8. Residual value
For each factor you will be asked to give 3 estimates. The first is the
value which you think the factor has only one chance in ten of falling
below -- that is, a low guess. The second estimate should be that which
you believe to be the most likely. The third is that which you figure the
factor has only one chance in ten of exceeding.
Thus the estimates should be typed: '*FACTOR X: low, most likely, high'.
EXDRSK, page 2
RUN
GET-EXDRSK
RUN
EXDRSK
•
EXTENDED RISK ANALYSIS
•
DEFINITION OF FACTORS
NUMBER
1
2
3
~
5
6
7
8
FACTOR
INVESTMENT
MARKET SIZE (UNITS>
SELLING PRICE PER UNIT
SHARE OF MARKET
VARIABLE COSTS ($/UNIT>
FIXED COST ($/PERIOD>
USEFUL LIFE (PERIODS>
RESIDUAL VALUE
IF PRICE# SALES AND OPERATING COSTS ARE INTERDEPENDENT
TYPE lJ OTHERWISE# TYPE 011
DO YOU NEED INPUT INSTRUCTIONS1 (Y OR N)1Y
FOR EACH FACTOR YOU WILL BE ASKED TO GIVE 3 ESTIMATES. THE FIRST
IS THE VALUE WHICH YOU THINK THE FACTOR HAS ONLY ONE CHANCE IN TEN OF
FALLING BELOW -- THAT IS# A LOW GUESS. THE SECOND ESTIMATE SHOULD BE
THAT WHICH YOU BELIEVE TO BE THE MOST LIKELY. THE THIRD IS THAT
WHICH YOU FIGURE THE FACTOR HAS ONLY ONE CHANCE IN TEN OF EXECEEDING.
THUS THE ESTIMATES SHOULD BE TYPED:
'. FACTOR X: LOW#MOST LIKELY#HIGH'
ENTER ESTIMATES FOR:
FACTOR 1
PERIOD 1
16000#10000#13000
PERIOD 3
110000#15000#18000
PERIOD 5
11000#3000#5000
PERIOD 7
10#1000#3000
F'ACTOR 2
PERIOD t
10#0#0
PERIOD 3
10#500#750
1500,,3500,,4000
PERIOD 5
PERIOD 7
12000,,5000#6500
F'ACTOR 3
PERIOD 1
10#0#0
15,,75,,100
PERIOD 3
150,,50,,50
PERIOD 5
PERIOD 7
150#50#50
F'ACTOR 4
10#0#0
PERIOD 1
PERIOD 3
1.05#.075".10
PERIOD 5
1.075"el0#.15
PERIOD 7
1.10#.15#-25
FACTOR 5
PERIOD t
150,,75,,100
PERIOD 3
140#70,,90
PERIOD 5
130#40#50
120,,25#30
PERIOD 7
F'ACTOR 6
PERIOD 1
11000,,1500#2000
11000,,1500,,2000
PERIOD 3
PERIOD 5
1500,,750#1000
1450,,700,,850
PERIOD 7
•
•
•
•
•
•
• FACTOR 7
1115,,20#25
• FACTOR 8
110.#0#0
SIMULATION ITERATIONS FOLLOW.
AFTER EACH INTERNAL ITERATION
A ' . ' WILL BE PRINTED.
USUALLY 20 ITERATIONS ARE NECESSARY.
PLEASE BE PATIENT!
EXDRSK~
page 3
***********************************************************************
AVERAGE CASH F'LOWS
PERIOD I
-11010.1
-1997.07
PERIOD 2
-16100.5
PERIOD 3
-1557.01
PERIOD 4
-684.212
PERIOD 5
10012.9
PERIOD 6
25352.7
PERIOD 7
23504.1
PERIOD 8
21835.8
PERIOD 9
22715.5
PERIOD 10
24369.5
PERIOD 11
29071.9
PERIOD 12
21144.
PERIOD 13
19676.4
PERIOD 14
23934.7
PERIOD 15
20
SIMULATIONS
AND 2
EXPECTED PAYBACK PERIOD BETWEEN
EXPECTED RATE OF' RETURN
.29209
RATE OF' RETURN
PROBABILITY
-.15
0
0
-. I
-.05
0
0
o
.05
0
.1
.15
0
0
0
.2
.25
.3
TYPE
F'ACTOR
.15
.85
IF' YOU WANT AVERAGE VALUES PRINTED F'OR F'ACTORS 1-6J OTHERWISE 011
AVERAGE VALUE
9526.49
0
14255.5
0
3056.95
0
1487.59
1285.99
1140.59
1013.91
1621.54
1479.5
1193.32
1424.61
1361.03
2
2
2
2
PERIODS.
0
248.333
469.456
1617.31
PERIOD
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
1
2
3
4
EXDRSK, page 4
2
2
2
2
2
2
2
2
2
2
2
2448.23
3325.08
4856.89
4430.28
4264.9
4411.69
4721.97
5083.49
4412.26
4157.02
4758.68
5
6
7
8
9
10
11
12
13
14
15
3
3
3
3
3
3
3
3
3
3
3
3
3
3
0
29.5523
59.4255
52.0968
50
50
50
50
50
50
50
50
50
50
50
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
4
4
4
4
4
4
Ji
4
4
4
4
4
4
4
4
0
4.75013E-02
9.Ji8336E-02
.119901
.137695
.185985
.229494
.226453
.227589
.21975
.229688
.231371
:222942
.211108
.227492
1
2
3
Ji
5
6
7
8
9
10
11
12
13
14
15
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
77.7686
70.9821
66.9793
50.8399
40.5705
32.5466
25.3845
24.455
25.2716
25.3307
25.204
23.1036
25.7729
25.0214
25.9379
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
6
6
6
6
6
6
6
6
6
6
6
6
6
6
6
1483.62
1525.26
1369.7
1091.37
761.521
761.268
682.592
650.594
616.5
646.957
668.708
685.373
696.134
648.356
693.68
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
3
***********************************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
EXPEND
36111
TITLE:
BUDGET EXPENDITURES VS TARGETS MONITOR
DESCRIPTION:
This program can be used to create, update or list budgetary data.
Expenditure vs targets can be continuously monitored. Up to 15 files
can be handled, each with up to 20 accounts or major items. Each file
represents one location code in the Hewlett-Packard accounting system,
although a code for major programs, projects, etc., could easily be
substituted. Under each location code the account numbers and/or major
projects are listed, one per record. For each entry, the program lists
the record number, name, dollars expended, and dollars targeted. For
each location code, the program also lists the total targeted and total
expended. NOTE: This program creates its own data base.
IINSTRUCTIONS:
Load the program.
OPEN-FL1,20
OPEN-FL2,20
OPEN-FL15,20
OPEN-FL16,48
Before running the first time (or to clear all the files at the beginning
of a new period) enter the following:
7
LET Z
=0
8 PRINT # 16, 16; Z
9 STOP
RUN
When the program stops, delete the three statements you executed. The
purpose of this exercise is to ensure that all of the files have been
cleared of old data.
Records can be any combination of account numbers and major items
(projects). The example shawn illustrates major items accumulated under
account numbers; hence, the figures for the account numbers are in
effect subtotals. Data could just as easily be listed the other way;
i.e., with various account numbers subtotalled under a major item.
The program is self-instructional for generating, updating, and listing
data.
SPECIAL
CONSIDERATIONS:
,ACKNOWLEDGEMENTS:
To prevent double entry of items wh~n listing subtotals use minus signs
(the program ignores all figures preceded by a minus sign).
Jack Peters
HP, Data Systems Division
EXPEND,
paqe
2
RUN
o-F'E-FL1 .. 20
OPE-FL2120
9PE-FL3 .. 20
OPE;"FL4120
OPE-FL5;'20
OPE-FL6;'20
OPEE-\
OPE-FL7 .. 20
OPE;"FL8;'20
OPE;"FL9;'20
OPE-FL10 .. 20
OPE-FLll .. 20
OPE-FLI2 .. 20
'OPE-FLI3 .. 20
OPE-FLI4-.. .... 20
OPE-FLI5 .. 20
OPE-FL16 .. 48
7
8
9
LET Z=0
PRINT 116 .. 11 .. 6;Z
STOP
RUN
EXPEND
DONE
7
8
9
RUN
EXPEND
DO YOU WiSH INSTRUCTIONS?YES
THIS PROGRAM CAN BE USED TO CREATE .. UPDATE .. OR LIST
BUDGETARY DATA SO AS TO PERMIT CONTINUOUS MONITORING
OF EXPENDITURES VS TARGETS. NOTE THAT THE PROGRAM CAN
HANDLE UP TO 15 LOCATION CODES WITH 20 ACCOUNTS ANDI
OR MAJOR ITEMS PER LOCATION CODE.
THE NAME OF EACH RECORD CAN BE UP TO 32 CHARACTERS
INCLUDING SPACES. EACH RECORD ALSO INCLUDES $
EXPENDED AND $ TARGETED (UP TO 8 DIGITS)
DO YOU WISH TO 'GENERATE'NEW FILESCS) .. 'UPDATE'
EXISTING FILES~ OR 'LIST' DATA?
?GENERATE
DO YOU NEED THE FILE NO. LIST?
?YES
FILE NO.
NAME
1
0
2
3
4
5
0
0
0
0
6
0
7
0
8
9
0
0
10
11
0
0
0
0
0
12
13
14
15
0
THERE ARE
15
FILES AVAILABLE
HOW MANY NEW FILES?1
INPUT THE NUMBER OF AN AVAILABLE FILE?2
INPUT NEW FILE NAME
?FLIP
HOW MANY RECORDS (ONE PER ACCOUNT OR NAME) DO YOU REQUIRE?1
INPUT YOUR BUDETARY DATA
NAME OR ACCOUNT NUMBER
EXPEND, page 3
S EXPENDED
$ TARGETED
ENTER RECORD NO.
1PRINTING
111000
113000
ENTER DATE17/25/73
7/25/73
fINISHED?NO
DO YOU WISH TO 'GENERATE'NEW fILES(S)1
EXISTING fILESI-OR 'LIST' DATA?
1 GENERATE
DO YOU NEED THE fILE NO. LIST1
1YES
fILE NO.
NAME
1
fLIP
2
fLIP
3
0
4
5
0
0
6
0
7
0
8
9
'UPDATE'
0
0
0
10
11
0
12
0
13
0
14
0
15
0
'THERE ARE
14
fILES AVAILABLE
HOW MANY NEW fILE511
,INPUT THE NUMBER Of AN AVAILABLE fILE13
,I NPUT NEW FILE NAME
~r fLIP 1
HOW MANY RECORDS (ONE PER ACCOUNT OR NAME) DO YOU REQUIRE?10
:[NPUT YOUR BUDETARY DATA
NAME OR ACCOUNT NUMBER
l& EXPENDED
~, TARGETED
ENTER RECORD NO.
'j'LABOR
'j'1500
j'1400
ENTER RECORD NO.
2
:'SHIPPING
:'1300
:' 1350
ENTER RECORD NO.
3
1POSTAGE
11250
11300
E:NTER RECORD NO. 4
10RDER PROCESSING
11600
11500
ENTER RECORD NO.
5
1 TRAVEL
111245
11500
ENTER RECORD NO.
6
1TRADE SHOWS
110
110
ENTER RECORD NO.
7
1CLERICAL
11279
11200
E,NTER RECORD NO.
8
1 ,rAC ILl TIES
112500
112500
ENTER RECORD NO.
9
11:-1ARKET I NG
1'?2990
1 '12000
EXPEND,
4
paqe
ENTER RECORD NO.
10
?ADVERTISING
77350
??300
ENTER DATE?7/27/73
7/27/73
FINISHED?NO
DO YOU WISH TO 'GENERATE'NEW FILES(S), 'UPDATE'
EXISTING FILES,-OR 'LIST' DATA7
?UPDATE
DO YOU NEED THE FILE NO. LIST?
?NO
INPUT THE NO. OF THE FILE TO BE CHANGED?l
DO YOU WISH TO DELETE THIS FILE7NO
DO YOU WANT DATA LISTED FOR THIS FILE7YES
DATA FOR
RECORD
1
FLIP
TOTAL TARGETED
$
3000
NAME
PRINTING
EXPENDED
1000
TARGETED
3000
EXPENDED
2400
TARGETED
3000
EXPENDED
TARGETED
EXPENDED
500
TARGETED
400
TOTAL EXPENDED $ 1000
DO YOU WISH TO UPDATE EXPENDITURES?N~YES
INPUT RECORD NO.71
HOW MANY NEW EXPENDITURES? 1
NEXT EXPENDITURE ?1400
MORE EXPENDITURES TO BE UPDATED?NO
DO YOU WISH TO ADD RECORDS?NO
DO YOU WISH TO CHANGE ANY OTHER RECORDS?NO
DO YOU WISH TO CHANGE ANY OTHER FILE?NO
ENTER DATE77/27/73
7/27/73
.
DO YOU WANT ANY LISTING7YES
DO YOU WANT ALL FILES LISTED?YES
7/27/73
DATA FOR
RECORD
1
FLIP
TOTAL TARGETED S 3000
NAME
PRINTING
TOTAL EXPENDED S 2400
DATA FOR
FLIP
RECORD
TOTAL EXPENDED
DATA FOR
RECORD
1
TOTAL TARGETED S 0
$
NAME
0
FLIPI TOTAL TARGETED
$
7050
NAME
LABOR
2
SHIPPING
300
350
3
POSTAGE
250
300
4
ORDER PROCESSING
600
500
5
TRAVEL
1245
500
6
TRADE SHOWS
0
0
7
CLERICAL
279
200
8
FACILITIES
2500
2500
9
MARKETING
2990
2000
10
ADVERTISING
350
300
TOTAL EXPENDED S 9014
DATA FOR
0
TOTAL TARGETED S 0
EXPEND,
0
DATA FOR
0
TOTAL TARGETED
DATA FOR
0
TOTAL TARGETED S 0
DATA FOR
0
TOTAL TARGETED
$
0
DATA FOR
0
TOTAL TARGETED
$
0
DATA FOR
0
TOTAL TARGETED
$
0
DATA FOR
0
TOTAL TARGETED S 0
DATA FOR
0
TOTAL TARGETED
$
0
DATA FOR
0
TOTAL TARGETED
$
0
DATA FOR
0
TOTAL TARGETED
$
0
DATA FOR
0
TOTAL TARGETED S 0
DATA FOR
0
TOTAL TARGETED
FINISHED?YES
DONE
$
$
0
page
5
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
EXSMOO
36085
TITLE:
EXPONENTIAL SMOOTHING ON PRICE DATA
DESCRIPTION:
EXSMOO uses exponential smoothing to forecast data which is thought to
have a trend and/or seasonal effect. Output is provided per period as
a comparison between different methods of smoothing.
St
Actual demand in month t
St
Moving average of St after month t
a
=
Cl
Cl
C2
C3
St
INSTRUCTIONS:
Smoothing constant (O.l - 0.2)
C2 *
is the
is the
is the
+
t + C3 * Ft + error
average coefficient
trend coefficient
seasonal coefficient
St = St-l + a (St - St_ 1)
{ New estimate
St
= Old estimate
= (St/{Ft-L))
+
}
.
Stralght
+ a{Actual-Old estimate)
(l -a) * St-l
Ft = S{St/Si! + (1 -S) * (Ft-L) for next year Seasonality
L = Number of periods in cycle
where:
INSTRUCTIONS:
You will be asked to input the following data:
Nl = The number of months (periods)
N2 = The number of periods to be used for the initialization
of the forecasting methods
N3 = The number of periods in the periodicity of the seasonal effect
Al = The smoothing constant a
Then the actual values for each period are to be entered. This can be
done with input or data-statements.
To enter data internally, begin at line 9900 and enter the actual
amounts for each period to be considered, and enter "0" in answer to
the question on how the data is to be entered.
Also note that the number of periods in the seasonality must be less
than the number of periods provided for the initialization of the
forecasting methods.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
As it stands, EXSMOO will handle only up to 8 years (i.e., 72 periods)
of forecasting. For enlargement change dim-statement 9116 to bounds
of Nl + 2.
EXSMOO,
page
2
RUN
GET-$EXSMOO
RUN
EXSMOO
*
EXPONENTIAL SMOOTHING
*
DO YOU NEED A PROBLEM DESCRIPTION? ('Y' OR 'N') ?N
FOR HOW MANY PERIODS WILL YOU ENTER DATA?30
HOW MANY OF THESE PERIODS ARE TO BE USED TO INITIALIZE THE FORCASTING
METHODS?12
WHAT IS THE PERIODICITY OF THE SEASONAL EFFECT? E.G. 12 FOR YEARLY.
NOTEI THIS VALUE MUST BE LESS THAN YOUR ANSWER TO THE PREVIOUS QUESTION.
?6
WHAT IS YOUR ALPHA FOR SMOOTHING FORCASTS?10
WHAT IS THE ALPHA FOR SMOOTHING THE SEASONAL EFFECT?20
WHAT IS THE ALPHA FOR THE TREND EFFECT?15
DO YOU WISH TO ENTER YOUR DATA FROM THE TELETYPE. OR INTERNALLY WITH
DATA-STATEMENTS?
C'T' FOR TELETYPE. OTHERWISE 'D')?T
WHAT IS THE VALUE fOR THE fiRST PERIOD?100
SECOND PERIOD?15
NEXT?13
NEXT?12
NEXT?10
NEXT?60
NEXT?100
NEXT?90
NEXT?S0
NEXT?10
NEXT?60
NEXT?50
NEXT?110
NEXT?50
NEXT?
DONE
RUN
EXSMOO
*
EXPONENTIAL SMOOTHING
*
DO YOU NEED A PROBLEM DESCRIPTION? C'Y' OR 'N') ?N
FOR HOW MANY PERIODS WILL YOU ENTER DATA?30
HOW MANY OF THESE PERIODS ARE TO BE USED TO INITIALIZE THE FORCASTING
METHOOS?12
WHAT IS THE PERIODICITY Of THE SEASONAL EFFECT? E.G. 12 FOR YEARLY.
NOTEI THIS VALUE MUST BE LESS THAN YOUR ANSWER TO THE PREVIOUS QUESTION.
?6
WHAT IS YOUR ALPHA FOR SMOOTHING FORCASTS?10
WHAT IS THE ALPHA fOR SMOOTHING THE SEASONAL EfFECT?20
WHAT IS THE ALPHA fOR THE TREND EFFECT?t5
DO YOU WISH TO ENTER YOUR DATA FROM THE TELETYPE. OR INTERNALLY WITH
DATA-STATEMENTS?
C'T' FOR TELETYPE. OTHERWISE 'O')?T
EXSMOO, page 3
WHAT IS THE VALUE FOR THE FIRST PERIOD?100
SECOND PERIOD?75
NEXT?73
NEXT?72
NEXT?70
NEXT?60
NEXT?100
NEXT?90
NEXT?80
NEXT?70
NEXT?60
NEXT?50
NEXT?110
NEXT?99
NEXT?85
NExT?80
NEXT?75
NEXT? 70
NEXT?105
NEXT?100
NEXT?95
NEXT?90
NEXT?85
NEXT?80
NEXT? 110
NEXT?100
NEXT?75
NEXT?70
NEXT?65
NEXT?60
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
PERIOD
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
SALES
110
99
85
80
75
70
105
100
95
90
85
80
110
100
75
70
65
60
EXPONENTIAL
SMOOTHING
WITH TREND
AND SEASONALS
EXPONENT IAL
SMOOTHING
WITH
TREND
EXPONENTIAL
SMOOTHING
WITH
SEASONALS
99.9594
83·5456
79.0011
74.0594
68·5953
58.9741
112.645
94.6555
87.2416
82.4296
77.0604
67.777
124.38
106.881
98.174
89.6729
80·919
69.2686
68.1002
78.074
83.4328
84.2659
83.6642
81·8989
79.195
85·7386
89.7833
91.7808
92.1072
91·0753
88.9447
94.6806
96.7984
92.2166
87.2032
81.8599
98.8338
77.6086
75.9716
74.0971
71 .1631
61 .2091
108.98
86.6389
81 .6393
79.4361
76.3484
67.093
116.274
95.4287
89.123
83.532
77.6849
67.2988
10.7023
14.9401
10.0792
.356144
.839939
.308655
MEAN ABSOLUTE DEVIATION,
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
FINFLO
TITLE:
CALCULATES PRESENT VALUE - STREAM OF CASH FLOWS
DE:SCRIPTION:
This program calculates the present value of a stream of cash flows. The
assumption is made that the flows occur at the end of each of the periods
after the initial period when the investment is made. Each period is defined as one year unless the cost of capital percentage and number of
periods are adjusted accordingly. This program will calculate all rates
of return between zero and one hundred percent which equate the P.V. to
the initial investment.
I"ISTRUCTIONS:
Enter figures as requested in program.
ACKNOWLEDGEMENTS:
Babson College
Babson Park, Massachusetts
36711
FINFLO, Page 2
RUN
RUN
FINFLO
DO YOU WANT INSTRUCTIONS?YES
THIS PROGRAM CALCULATES THE PRESENT VALUE OF A STREAM OF CASH
FLOWS. THE ASSUMPTION IS MADE THAT THE FLOWS OCCUR AT THE END
OF EACH OF THE PERIODS AFTER THE INITIAL PERIOD WHEN THE INVESTMENT
IS MADE. EACH PERIOD IS DEFINED AS ONE YEAR UNLESS THE COST OF
CAPITAL PERCENTAGE AND NUMBER OF PERIODS ARE ADJUSTED ACCORDINGLY.
THIS PROGRAM WILL CALCULATE ALL RATES OF RETURN BETWEEN ZERO AND
ONE HUNDRED PERCENT WHICH EQUATE THE P.V. TO THE INITIAL INVESTMENT.
WHAT IS THE INITIAL INVESTMENT IN PERIOD 0?10000
THIS PROGRAM ASSUMES AN INITIAL OUTLAY FOR THE INVESTMENT
THE SIGN HAS BEEN CHANGED TO REFLECT THIS CONDITION
FOR HOW MANY PERIODS DO YOU WISH TO ENTER CASH FLOWS# PERIOD 1 ON?4
PERIOD
,
••••••••
1
CASH FLOW
•••••••••
?200
?4500
?6000
?5700
2
3
4
ENTER COST OF CAPITAL IN PERCENT?11
DO YOU WANT A LISTING OF THE P.V. IN EACH PERIOD?YES
PERIOD
,
••••••••
1
2
3
4
P.V.
••••••••
180.18
3652.3
4387.15
3754.77
NET PRESENT VALUE OF ALL FLOWS IS
$
1974.4
THE CALCULATED RATES OF RETURN BETWEEN 0% AND 100% ARE:
17.9799
%THE P.V. AT THIS RATE OF RETURN IS $ 9998.12
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
GCHLIN
36503
TITLE:
RATING INVESTMENT FUNDS
DESCRIPTION:
This program performs an analysis of the type advocated by Treynor in
"How to Rate Management of Investment Funds," (Harvard Business Review,
January-February 1965). Basically, it fits a least-squares regression
line to data on the quarterly rates of return for two entities. Possibilities include: mutual funds, individual stocks, indices of stock
returns, and portfolios.
INSTRUCTIONS:
Three data bases can be used with the program. The GPDQI file gives price
and dividend data on 98 industrial indices compiled by Standard and Poor's.
The GPDQF file contains comparable information on 100 open-end mutual funds.
The GPDQS file contains information on the 30 stocks used to compute DowJones' 30 Industrial Stock Average. Any of these files may be invoked by
simply responding appropriately when asked. The particular entry desired
must be indicated by number. For listings, see the descriptions of the
GPDQ files.
If the user chooses a portfolio for analysis, the program will read a file
named PDQP in the user's own account. The user-specified number will indicate the record to be read by the program. The record must follow the format used in GPDQF, GPDQI and GPDQS.
The user may opt to have the treasury bill rate subtracted from each return
before the remainder of the analysis is performed. This will provide an
analysis of excess returns -- i.e., returns over and above the pure interest
rate for the quarter in question.
Any period may be requested. The program will utilize only quarters for
which the requisite data are available.
(continued on Page 2)
SPECIAL
CONSI DERATIONS:
Following a summary of relevant statistics and the information about the
regression line, the program provides a scatter diagram of the results.
An asterisk represents one point, the digit "2", two points, etc. An
approximate regression line may be drawn from the letter "L" through the
intersection of the two M's (as illustrated on the sample run).
The program also computes and prints the "differential return" for each
quarter. This is the difference between the actual y-value and the product
of the x-value and the slope of the regression line. A rough graphic plot
is also provided. The asterisks may be connected to obtain a time-plot (as
illustrated on the sample run).
ACKNOWLE[)GEMENTS:
Graduate School of Business
Stanford University
GCHLIN t page 2
INSTRUCTIONS:
(continued)
GPDQF is a file of data on quarterly prices and dividends paid by 100 open-end mutual funds. The
funds were chosen randomly from those for which data were readily available for the period 1965-1970.
For each quarter, the following information is given:
"opening price"
- net asset value per share as of the close of the market on the last trading
day of the previous quarter.
"dividends"
- all dividends received by an investor who held one share at the beginning of
the quarter; any other distributions that qualify as income are also included.
"ending price"
- the total value of the holdings of an investor who held one share at the beginning
of the quarter. This includes the net asset value of the share (or shares. in the
case of splits) at the close of the market on the last trading day of the quarter. It
also includes the value of any distributions received during the quarter that qualify
as capital gains.
Each fund is allocated one record on the file. Fund number 1 is on record 1; fund number 2 on record
2. etc. Each record contains 40 quarters of information. as follows:
opening price
dividends
closing price
1st quarter of 1st year
1st quarter of 1st year
1st quarter of 1st year
opening price
dividends
closing price
2nd quarter of 1st year
2nd quarter of 1st year
2nd quarter of 1st year
etc.
Any missing value is represented by -999.
Following the 120 data values on each record are:
- the first year for which data are given (e.g. 1963)
- the name of the fund (up to 20 characters)
This file uses the same format as GPDQI and GPDQS.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
The funds are listed as follows:
ABERDEEN FUND
AFFILIATED FUND INC.
AMERICAN BUSINESS SHARES INC.
AMERICAN INVESTORS FUND INC.
AMERICAN MUTUAL FUND INC.
ANCHOR - FUNDAMENTAL INVESTORS
ANCHOR - GROWTH FUND
ASSOCIATED FUND TRUST
AXE-HOUGHTON FUND A INC.
AXE-HOUGHTON FUND B INC.
AXE-HOUGHTON STOCK FUND INC.
AXE SCIENCE CORP.
BOSTON FUND INC.
BROAD STREET INVESTING CORP.
BULLOCK FUND LTD.
CENTURY SHARES TRUST
CHASE FUND OF BOSTON
CHASE SHAREHOLDERS TRUST OF BOSTON
CHEMICAL FUND INC.
COLONIAL FUND INC.
AMERICAN EXPRESS INCOME FUND INC.
AMERICAN EXPRESS INVESTMENT FUND INC.
AMERICAN EXPRESS STOCK FUND INC.
COMPOSITE BOND AND STOCK FUND
COMPOSITE FUND INC.
GCHLIN, page 3
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
CONCORD FUND INC.
DE VEGH MUTUAL FUND INC.
DELAWARE FUND INC.
BULLOCK -- DIVIDEND SHARES INC.
DREYFUS FUND INC.
ENERGY FUND INC.
EQUITY FUND INC.
FIDELITY CAPITAL FUND INC.
FIDELITY FUND INC.
FINANCIAL INDUSTRIAL FUND
FLORIDA GROWTH FUND INC.
FOUNDERS MUTUAL FUND
GROUP SECURITIES INC. -- COMMON STOCK FUND
GROWTH INDUSTRY SHARES INC.
GUARDIAN MUTUAL FUND INC.
HAMILTON FUNDS INC. -- SERIES HDA
INCOME FUND OF BOSTON INC.
INVESTMENT COMPANY OF AMERICA
INVESTMENT TRUST OF BOSTON
INVESTORS RESEARCH FUND INC.
ISTEL FUND INC.
JOHNSTON MUTUAL FUND INC.
KEYSTONE CUSTODIAN FUND B-1
KEYSTONE CUSTODIAN FUND B-2
KEYSTONE CUSTODIAN FUND B-4
KEYSTONE CUSTODIAN FUND K-1
KEYSTONE CUSTODIAN FUND K-2
KEYSTONE CUSTODIAN FUND S-l
KEYSTONE CUSTODIAN FUND S-2
KEYSTONE CUSTODIAN FUND S-3
KEYSTONE CUSTODIAN FUND S-4
KNICKERBOCKER FUND
KNICKERBOCKER GROWTH FUND INC.
LIFE INSURANCE INVESTORS INC.
LOOMIS-SAYLES MUTUAL FUND
MAGNA INCOME TRUST
MASSACHUSETTS INVESTORS GROWTH STOCK FUND
MASSACHUSETTS INVESTORS TRUST
MUTUAL SHARES CORP.
MUTUAL TRUST
NATIONAL INVESTORS CORP.
NATIONAL SECURITIES SERIES - BALANCE SERIES
NATIONAL SECURITIES SERIES -- BOND SERIES
NATIONAL SECURITIES SERIES -- DIVIDEND SERIES
NATIONAL SECURITIES SERIES -- PREFERRED STOCK SERIES
NATIONAL SECURITIES SERIES -- INCOME SERIES
NATIONAL SECURITIES SERIES -- STOCK SERIES
NATIONAL SECURITIES SERIES -- GROWTH STOCK SERIES
ONE WILLIAM STREET FUND INC.
OPPENHEIMER FUND INC.
PENN SQUARE MUTUAL FUND
PHILADELPHIA FUND INC.
PINE STREET FUND INC.
PIONEER FUND INC.
PRICE (T. ROWE) GROWTH -STOCK FUND
PURITAN FUND INC.
PUTNAM (GEORGE) FUND
PUTNAM GROWTH FUND
SCUDDER STEVENS AND CLARK - BALANCED FUND
SCUDDER STEVENS AND CLARK - COMMON STOCK FUND
SIGMA INVESTMENT SHARES
SIGMA TRUST SHARES
SOUTHWESTERN INVESTORS INC.
SOVEREIGN INVESTORS INC.
STEIN ROE AND FARNHAM - BALANCED FUND
STEIN ROE AND FARHNAME - STOCK FUND
TWENTIETH CENTURY GROWTH INVESTORS
VALUE LINE FUND INC.
VALUE LINE INCOME FUND INC.
VALUE LINE SPECIAL SITUATIONS FUND
WALL STREET INVESTING CORP.
WASHINGTON MUTUAL INVESTORS FUND INC.
WELLINGTON FUND INC.
WHITEHALL FUND INC.
WISCONSIN FUND INC.
GCHLIN, page 4
GPDQS is a file of quarterly prices and dividends for the thirty stocks used in 1971 to compute
Dow-Jones' Industrial average. For each quarter, the following information is given:
"opening price"
- this is the price of one share of the stock as of the close of trading on
the last trading day of the previous quarter.
"di vi dends"
- this includes all dividends received during the quarter by a person who held
one share at the beginning of the quarter. Any distribution treated as income
is also included.
"c1osing price"
-
this is the value of the holdings of an investor who held one share at the
beginning of the quarter. The value is calculated as of the close of the
last trading day in the quarter.
Each stock is allocated one record on the file. Stock number 1 is on record 1; stock 2 on record 2,
etc. Each record contains 40 quarter of information as follows:
opening price
dividends
closing price
1st quarter of 1st year
1st quarter of 1st year
1st quarter of 1st year
opening price
dividends
closing price
2nd quarter of 1st year
2nd quarter of 1st year
2nd quarter of 1st year
etc.
Any missing value is represented by -999.
Following the 120 data values on each record are:
- the first year for which data are given (e.g., 1963)
- the name of the stock (up to 20 characters)
The file uses the same format as GPDQI and GPDQF.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
The stocks are listed as follows:
ALLIED CHEMICAL
ALUMINUM COMPANY OF AMERICA
AMERICAN BRANDS
AMERICAN CAN COMPANY
AMERICAN TELEPHONE AND TELEGRAPH
ANACONDA
BETHLEHEM STEEL
CHRYSLER CORPORATION
DUPONT (E.I.) DE NEMOURS
EASTMAN KODAK
GENERAL ELECTRIC
GENERAL FOODS
GENERAL MOTORS
GOODYEAR TIRE AND RUBBER
INTERNATIONAL HARVESTER
INTERNATIONAL NICKEL COMPANY OF CANADA
INTERNATIONAL PAPER COMPANY
JOHNS-MANVILLE CORPORATION
OWENS-ILLINOIS
PROCTER AND GAMBLE
SEARS ROEBUCK
STANDARD OIL OF CALIFORNIA
STANDARD OIL OF NEW JERSEY
SWIFT AND COMPANY
TEXACO
UNION CARBIDE
UNITED AIRCRAFT
U.S. STEEL
WESTINGHOUSE ELECTRIC
WOOLWORTH (F.W.) COMPANY
GCHLIN, page 5
GPDQI is a file of quarterly prices and dividends for 98 common stock indices published
by Standard and Poorls and returns on 90-day Treasury bills. For each quarter, the
following information is given:
"opening price"
- this is the value of the index as of the end of the previous
quarter, as reported by Standard and Poorls.
"dividends"
- this is the value of dividends paid by the stocks in the index
during the quarter, as reported by Standard and Poorls.
"closing price"
- this is the value of the index as of the end of the quarter, as
reported by Standard and Poorls.
Each index is allocated one record on the file. Index number 1 is on record 1; index
2 on record 2, etc. Each record contains 120 numbers, as follows:
opening price
dividends
closing price
1st quarter of 1st year
1st quarter of 1st year
1st quarter of 1st year
opening price
dividends
closing price
2nd quarter of 1st year
2nd quarter of 1st year
2nd quarter of 1st year
Any missing value is represented by -999.
Following the 120 data values on each record are:
- the first year for which data are given (e.g., 1963)
- the name of the index (up to 20 characters)
For 90-day Treasury bills, the three values are:
"opening price"
- the average of the bid and ask prices at the end of the previous quarter
for the 90-day bill expiring on the date nearest the end of the quarter (e.g., 98.8)
"dividends"
- zero
"closing price"
- 100
The file uses the same format as GPDQF and GPDQS.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
500 STOCKS
425 INDUSTRIALS
20 RAILS
55 UTILITIES
CAPITAL GOODS
CONSUMER PRODUCTS
HIGH GRADE
LOW PRICED
AEROSPACE
AIR TRANSPORT
ALUMINUM
AUTOMOBILE
AUTO PARTS
AUTO TRUCKS &PARTS
BREWERS
DISTILLERS
SOFT DRINKS
CEMENT
HEATING &PLUMBING
The indexes are listed as follows:
GCHLIN,
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
page
6
ROOFING &WALLBOARD
HOME FURNISHINGS
CHEMICALS
BITUMINOUS COAL
CONFECTIONERY
CONTAINERS - METAL & GLASS
CONTAINERS - PAPER
COPPER
DRUGS
ELECTRICAL EQUIPMENT
ELECTRICAL HOUSEHOLD APPLIANCES
ELECTRONICS
BUILDING MATERIALS COMPOSITE
FINANCE COMPANIES
SMALL LOAN
FOOD - BISCUIT BAKERS
FOOD - BREAD &CAKE
FOOD - CANNED
FOOD - CORN REFINERS
FOOD - DIARY PRODUCTS
FOOD - MEAT PACKING
FOOD - PACKAGED FOODS
GOLD MINING
LEAD & ZINC
MACHINE TOOLS
AGRICULTURAL MACHINERY
CONSTRUCTION &MATERIAL HANDLING
INDUSTRIAL MACHINERY
OIL WELL EQUIPMENT
SPECIALTY MACHINERY
STEAM GENERATING EQUIPMENT
METAL FABRICATING
METAL MISCELLANEOUS
MOTION PICTURES
OFFICE EQUIPMENT
CRUDE OIL PRODUCERS
INTEGRATED OILS - DOMESTIC
INTEGRATED OILS - INTERNATIONAL
PAPER
PUBLISHING
RADIO &TV BROADCASTERS
RADIO &TV MANUFACTURERS
RAILROAD EQUIPMENT
TEXTILES - SYNTHETIC FIBERS
DISCOUNT STORES
DEPARTMENT STORES
FOOD STORES
MAIL ORDER
VARIETY STORES
SHIPBUILDING
SHIPPING
SHOES
SOAPS
STEEL
SUGAR-BEET REFINERS
FOOD COMPOSITE
SUGAR-CAN REFINERS
SULPHUR
TEXTILES - APPAREL MAHUFACTURERS
TEXTILE PRODUCTS
TIRE & RUBBER
TOBACCO - CIGARETTE MANUFACTURERS
TOBACCO - CIGAR MANUFACTURERS
VEGETABLE OILS
VENDING MACHINES
ELECTRIC COMPANIES
NATURAL GAS DISTRIBUTORS
PIPELINES
TELEPHONE
BANKS - NEW YORK CITY
BANKS - OUTSIDE NEW YORK CITY
OIL COMPOSITE
INSURANCE - FIRE &CASUALTY
INSURANCE - LIFE
INVESTMENT COMPANIES
COSMETI CS
ELECTRONIC MAJOR COMPANIES
HOLDING COMPANIES
TRUCKERS
90-DAY TREASURY BILL-
GCHLIN, Page 7
RUN
RUN
GCHLIN
Y-VARIABLE (VERTICAL AXIS)
FUND~ INDEX~ PORTFOLIO OR STOCK?FUND
NUMBER? 2
AFFILIATED
X-VARIABLE (HORIZONTAL AXIS)
FUND~ INDEXI PORTFOLIO OR STOCK?INDEX
NUMBER? 1
511 STOCKS
00 YOU WANT THE TREASURY BILL RATE SUBTRACTED FROM EACH ftETURN?YES
FIRST QUARTER
YEAR? 1961&
QUARTER? 3
LAST QUARTER-YEAR?1971
QUARTER? 2
X
Y
15.377
-19.597
9.555
7.119
9.978
13.391&
-18.11&6
MAXIMUM
MINIMUM
AVERAGE
STD DEV
AVG/STD DEV
1.632
7.120
1.090
REGRESSION LINE
9.09507 +
Y
R-SQUARED:
0.93942
0.28109
STANDARD ERRORS:
.958573
TO
EACH AXIS RUNS FROM -19.5969
15.3768
I
t
!
•
•
r'
M--------------------------------- -------------------------•
•
•
L
M
GCHLIN t Page 8
DIFFERENTIAL RETURNS cy - B*X)
YEAR QTR VALUE
1964
1964
1965
1965
1965
1965
1966
1966
1966
1966
1967
1967
1967
1967
1968
1968
1968
1968
1969
1969
1969
1969
1979
1975
1979
1970
1971
1971
DONE
3
4
1
2
3
4
1
2
3
4
1
2
3
4
1
2
3
4
1
2
3
4
1
2
3
4
1
2
1 .181
-1.233
S.841
-2.S93
S.963
S.847
1 .415
S.852
S.535
1.972
-0.930
1.041
9.198
-0.257
-0.128
1.291
3.993
2.661
-e .195
-3.379
-2.714
-9.331
9.913
S.890
-1.472
-1.373
S.S22
-0.e 57
- S +
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
GDAPI
36507
TITLE:
ABNORMAL PERFORMANCE INDEX
DESCRIPTION:
This program all10ws the user to compute an lIabnormal performance index ll
based on price changes of stocks for which similar events have taken
place.
INSTRUCTIONS:
One or more lIeventsll may be analyzed. For each event, the closing price
of the relevant stock must be obtained for a specified number of periods
prior to the event and for a specified number of periods after the event,
as well as the closing price on the day of the event. If the market was
closed on the appropriate date of a period, no price should be entered
for that period (i.e., it should be skipped entirely). The user must also
indicate the IIbeta ll or IImarket sensitivityll of the stock. A period may be
any number of (calendar) days, but every period must be of the same length.
The program determines the percentage.change in Standard and Poor's 500stock index'for each period, multiplies that value by the stock's market
sensitivity, and subtracts the result from the percentage pricell change for
the stock during the period. This difference is the lIabnormal percentage
price change for the stock for the period.
Abnormal percentage price changes are computed for the specified number of
period prior to and subsequent to each event. The values are then averaged
to obtain an lIaverage abnormal percentage price change II for every period in
the specified range. Finally, an abnormal price index (API) is constructed
from the average values. The index is assigned a beginning value of 100.
Each period's value is then obtained by multiplying the previous period's
value by one plus the average abnormal percentage price change.
(Instructions continued on page 2)
ACKNOWLEDGIEMENTS:
Graduate School of Business
Stanford University
GDAPI, page 2
INSTRUCTIONS:
(continued)
Enter the data to be analyzed in data statements, beginning at line 5000.
the following information is required:
For each event,
event description
date of event
market sensitivity (beta) of stock
prices
For example:
5000 DATA "EFFECT OF UAL CRASH ON DOUGLAS STOCK
Ii
5001 DATA "JANUARY 5, 1965"
5002 DATA 1.23
5003 DATA 38,39,38.625,38.5,etc.
The data statements should be followed with an END statement.
For example:
9999 END
After entering the data statements, it is possible to save the program and data by typing:
SAVE
This will save the material in the user's account under the name GDAPI.
other time, type:
To re-use it at some
GET-GDAPI
(instead of GET-$GDAPI)
Once the data have been entered, the program can be RUN. The user will first be asked if he is
using FILES or DATA statements. Assume that the appropriate answer is DATA statements. The user
will then indicate the total number of events included in the data statements and whether or not
he wishes to analyze them all. If the answer to the latter question is NO, he will be asked to
specify the numbers of the events to be analyzed. The program will then ask for the number of
days per period. Finally, the number of periods prior to each event and subsequent to each event
must be specified. (NOTE: If Pl periods prior to each event and P2 periods subsequent to each
event are to be analyzed, the user must have included Pl + P2 + 1 prices for each event.)
The program will list the events to be analyzed, perform the required computations, and indicate
the minimum and maximum values of the abnormal performance index over the period. The user may
then select his own scale for the final graph or let the program automatically select a scale
running from the minimum to the maximum value. Finally, the program will print a list of the
values and an accompanying graph. The program may be re-run to analyze a different set of events.
For convenience, a file capability is also included. If the user indicates that he is using FILES,
the program will request the name of the file to be used. For each event, the description, date
and beta of the stock must be included in the DATA statements (as before), but the prices will be
obtained from the specified file. The prices for the first stock should be included in record 1,
those for the second in record 2, etc. The use of files expands the size of problem that can be
analyzed, since only about 2500 numbers can be entered in data statements before the available
space will be fully used.
The program uses the values of Standard and Poor's 500-stock index on file GSP5.
GSP5
GSP5 file contains data on the value of Standard and Poor's 500-stock index on a daily basis,
beginning with the first day of 1964. Values are in sequence, with one for each day of the year.
A day on which the exchange is closed is indicated by an entry of -999. Data for 1964 are on
records 1, 2, and 3. Data for 1965 are on records 4,5,6, etc. The third record used for every
year is filled out with -999 values.
GDAPI, Page 3
RUN
5QJ5QJ
5QJ6QJ
5QJ7QJ
5QJ8QJ
5QJ9QJ
51QJQJ
511 QJ
512QJ
516QJ
517QJ
518QJ
519QJ
52QJQJ
521QJ
522QJ
523QJ
527QJ
528QJ
529QJ
53QJQJ
531QJ
532QJ
533QJ
534QJ
5380
5385
539QJ
54QJQJ
54QJ5
541QJ
542QJ
543QJ
544QJ
545QJ
549QJ
55QJQJ
551QJ
552QJ
553QJ
554QJ
555QJ
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
DATA
END
556.75~57QJ~575.5~566.5~569~564.5~564~558~562.5~568
568~568.5~575.25~585~588.5~584.5~583.5~579.75~577.25~574.5
58QJ~582~586.5~588.5~589~594.25~595.25~598~598.5~597
588.25~584.5~585.25~596.75~59QJ.25~586~584~582.25~585.5~582
59QJ~594~584~583~581~583.5~576.5~57QJ.25~579.5~584
584.75
"IBM 37QJ ANNOUNCEMENT"
"J UN E 3 QJ ~ 197 QJ" ~ • 9
258.5~25QJ.5~245.5~248~241~242~259~267~278~287
283~283~271.25~27QJ~266.25~268.25~265.5~259.25~259~259
271~265.75~272~27QJ.25~268.5~257.12~255~258~257.5~257.5
25QJ~254~25QJ.75~244.5~242.5~242.5~254.25~25QJ.25~247.75~251.25
252~254~259.5~258~257.75~254~257~253.75~253.25~252.75
252.5
"IBM SYSTEM 3 ANNOUNCEMENT"
"JULY 3QJ~ 1969"~.9
313.5~314.25~314.25~314~312.25~315.5~325.5~32QJ.5~329.75~331.5
337.75~337.5~348~351.25~348~336~333.5~327~331.5~321.5
323.5~328.5~327.5~323~318.25~32QJ.25~317~316.5~313.12~313
315.5~324.5~329.5~326.75~334.5~336~333.75~333.5~329.25~33QJ.S
335~338.75~339.5~341.25~342~346.87~349~35QJ.25~341~34QJ
342.75
"CDC 76QJQJ ANNOUNCEMENT"
"DECEMBER 3~ 1968"~1.47
14QJ.12~ 139.75~ 141~ 143.5~ 143.75~ 141.62137.75~ 141.75~
138~138.75~137.12~137.37~135.25~135.62~135.62~14QJ~147~142.62
141.75~ 14QJ~ 141.62~ 147~ 154.25~ 157.12~ 155.62~ 156.62~ 157.87
157.12
159~ 161~ 161~ 158~ 147.62~ 155~ 15QJ~ 148.87~ 15QJ~ 150.75
146.75~ 144.25~ 147~ 146.75~ 146.25~ 144~ 144.25~ 143.75~ 142.37~
138
"CDC 7QJ ANNOUNCEMENT"
"MARCH 18~ 1971"~1.47
59.75~6QJ.5~60.5~62.62~62.25~61.62~60.75~61.25~58.75~61
6QJ.75~59.5~58.25~58.62~59.62~58~57.5~56.75~56.87~56.37
58.5~6QJ.5~61~62~65~65~63.75~65.25~65.5~65
64.62~65.64~37~63.25~62.12~62.25~62.62~62.5~63~63.75
63.62~63.5~63.25~63.62~64.75~65.12~68.5~67~67.25~66.62
65
RUN
GDAP;[
ARE YOU USING 'FILES' OR 'DATA' STATEMENTS ?DATA
HOW MANY EVENTS DO YOU HAVE IN ALL?5
DO YOU WISH TO ANALYZE THEM ALL1YES
HOW MANY DAYS ARE THERE PER PERIOD (E.G. 1 FOR
DAILY DATAl 7 FOR WEEKLY DATA). NUMBER OF DAYS?1
FOR HOW MANY PERIODS PRIOR TO EACH EVENT DO YOU
HAVE PRICES?30
FOR HOW MANY PERIODS AFTER EACH EVENT DO YOU
HAVE PRICES?20
,
141.62
14QJ.12
EVENT DATE
--------------------
EVENT
-------
APRIL 711964
IBM 360 ANNOUNCEMENT
2
JUNE 301 1970
IBM 370 ANNOUNCEMENT
3
JULY 30 1 1969
IBM SYSTEM 3 ANNOUNCEMENT
1&
DECEMBER 3 1 1968
CDC 7600 ANNOUNCEMENT
5
MARCH 18 1 1971
CDC 70 ANNO UNCEMENT
139
GDAPI
t
Page 4
MINIMUM API
95.89482 MAXIMUM API =
DO YOU WANT TO CHOOSE THE SCALE?NO
PERIOD
------39
-29
-28
-27
-26
-25
-24
-23
-22
-21
-2S
-19
-18
-17
-16
-15
-14
-13
-12
-11
-19
-9
-8
-7
-6
-5
-4
-3
-2
-1
S
1
2
3
4
5
6
7
8
9
IS
11
12
13
14
15
16
17
18
19
21
DONE
API
199.9S9
199.597
IS9.731
191.513
ISI.152
191.962
IS1.949
191.584
191.631
193.992
193.S93
192.622
192.427
193.938
192.531
IS1.47S
IS1.119
199.756
191.922
19S.569
1S 1 .664
191.628
IS2.137
192.996
194.843
195.164
194.128
194.595
194.739
IS4.791
194.192
IS5.276
95.895
IS9.375
IS8.922
IS8.47S
198.222
197.594
197.626
198.337
IS8.3S1
198.327
198.329
IS8.117
IS8.554
198.531
199.398
198.253
IS7.193
197.586
197.278
95.895
109.37471
IS9
199.375
+--------------+---------------------------------+
---------------+--------------
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
TITLE:
DESCRIPTIOI\I:
EFFICIENT IICORNER II PORTFOLIOS
GDPA
36508
This program finds the set of efficient IIcornerll portfolios from a set of
up to 100 securities. The amount invest~d in each security must lie within specified bounds. The program assumes that returns follow the IIsingleindex ll or IIdiagonal ll model:
A.1+1B.R
+ c.
m
1
Ri
where:
Ri
return on security
constants
Ai' Bi
an index (usually of the return on some II market portfolioll)
Rm
c.
a random variable with a mean of zero and a variance of Qi
Inputs to the program should be inserted beginning with line 5000 as DATA
statements. The values (in order) are:
1
INSTRUCTIONS:
BASIC
=
1)
expected value of Rm
2)
variance of Rm
3)
number of securities
4)
lower limit on each holding (e. g. , .02 for 2%)
5)
upper limit on each holding (e. g. , .10 for 10%)
6)
for
a)
b)
c)
each security:
the value of Ai
the value of Bi
the value of Qi
(Continued on Page 2)
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
This program uses the critical line algorithm developed by Markowitz.
In some cases, round-off problems may cause the procedure to produce
erroneous results. This is usually evident from the composition of the
portfolios. Slight changes in the inputs may cure the problem.
Graduate School of Business
Stanford University
GDPA. page 2
INSTRUCTIONS:
(continued)
The section of the program that reads the data is located between lines 1000 and 1050 and
may be changed to (1) read the data from a file and/or (2) to set different upper and lower
bounds for different securities.
When the program is run. it will first ask:
STARTING. CONTINUING OR FINISHING?
Respond with STARTING (or just S). The program will then determine all the corner portfolios. beginning with the one offering the greatest expected return. For selected corner
portfolios. the following information will be printed:
portfolio number:
(in sequence. used for later identification)
expected return
standard deviation of return
associated interest rate (that pure rate of interest that would make the portfolio
optimal if funds could be freely borrowed or lent at the pure rate of interest)
Information about some corner portfolios will not be printed if they differ insignificantly
from those for which information is shown.
After this phase. the program will again ask:
STARTING. CONTINUING OR FINISHING?
This time. respond CONTINUING (or just C). The program will then ask for the LOWEST-NUMBERED
PORTFOLIO YOU WOULD LIKE TO SEE. Use the numbers from the previous printout. The program
will indicate the percent to be invested in each security (except those for which the percent
is zero). When you do not wish to see another portfolio. simply respond with a portfolio number larger than any shown on the previous printout. The program will again ask:
STARTING. CONTINUING OR FINISHING?
Respond with FINISHING. (or simply
I).
and the program will terminate.
GDPA, Page 3
RUN
RUN
GDF'A
STARTINGI CONTINUINGI OR FINISHING1S
PORT
EXP RTN
1
2
3
7
8
9
19
11
12
13
14
15
16
17
18
19
29
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
37
38
39
40
41
42
43
44
2.63993
2.63896
2.63856
2.62528
2.61913
2.6985
2.57222
2.56347
2.56241
2.55962
2.53189
2.47137
2.46151
2.46198
2.46954
2.45555
2.44827
2.49904
2.37094
2.36306
2.33072
2.27952
2.27031
2.18365
2.16712
2.16033
2.15239
2.14712
2.12216
2.11955
2.99365
,2.09151
2.99151
2.9915
2.97266
2.93619
2.02612
2.99468
2.99918
1.99761
-------
STD DEV
-------
.667977
.66796
.669434
.651724
.648987
.641963
.621961
.617367
.616813
.615364
.691956
.570292
.565374
.565162
.564898
.562452
.558914
.535779
.521658
.5184
.503413
.475986
.475896
.437799
.439769
.427914
.4246
.422415
.412283
.497726
.491449
.490691
.400691
.49969
.395631
.388058
.38649
.383862
.383522
.383455
ASSOC. INT RATE
--------------2.62654
2.61667
1.5445
1.59927
1.48642
1.39845
1.37759
1.37474
1.37342
1.3699
1.33783
1.31717
1.31553
1.31383
1 '.39121
1.29639
1.26948
1.25443
1.25971
1.23759
1.21354
1.21344
1.16069
1.147
1.14996
1 .13
1.12458
1.98771
1.9568
.965182
.946533
.79256
.793653
.476815
-.292899
-.639593
-1.83871
-5.4919
STARTINGI CONTINUINGI OR FINISHING1C
LOWEST-NUMBERED PORTFOLIO YOU WOULD LIKE TO SEE11
SEC
1
3
4
7
9
19
12
13
15
20
PERCENT
------10
19
10
19
10
10
10
10
10
19
NEXT (LOWEST-NUMBERED) PORTFOLIO YOU WOULD LIKE TO SEE121
GOPA, Page 4
SEC
1
2
3
4
6
7
9
10
12
13
15
16
17
18
PERCENT
------8
10
8.08
5.64
10
7.05
10
10
10
.28
3.48
4.71
10
2.77
NEXT (LOWEST-NUMBERED) PORTFOLIO YOU WOULD LIKE TO SEE144
SEC
2
5
6
7
11
12
13
14
16
17
18
19
PERCENT
------10
10
10
2.78
10
5.19
2.03
10
10
10
10
10
NEXT (LOWEST-NUMBERED> PORTFOLIO YOU WOULD LIKE TO SEE1100
STARTINGI CONTlNUlNGI OR FINlSHING?F
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CON T R I BUTE D P ROG R AM
BASIC
GFNRAT
36510
TITLE:
FINANCIAL RATIOS
DESCRIPTION:
This program uses balance sheet and income statement data to compute
various financial ratios. The data may be entered either via the
terminal or in data statements.
INSTRUCTIONS:
If data are entered by the user as the program is being run, the order
will be indicated as the program proceeds. If the user elects to enter
the data in data statements, the same order should be followed, with
the statements entered beginning at line 9000.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GFNRAT. Page 2
RUN
RUN
GFNRAT
PLEASE INDICATE INPUT SOURCE
'T' tOR TERNIMAL
'D' FOR DATA STATEMENTS
SOORCE -- 1T
IIET RECEl"VABLES -- 15398511811
NET INVENTORIES -- ?1~1576993
NET INVENTORIES -- PREVIOUS YEAR-END
CURRlwr ASSEtS -- 1225925178
TOTAL ASSETS --1323223797
? U'981~927
CURRENT LIABILITIES -- 11117781631
PREFERRED STOCK -- ?I
COMMON STOCK -- . ?~'569128
CAPITAL AND EARNED SURPLUS -- ?12117217~4
NET SALES -- 13447411452
COST OF GOODS SOLO -- 1229779697
SELLING .. GENERAL AND· ADMINISTRATIVE EXPENSES -NET PROFIT -- ?1358~388
DIVIDENDS o.r ·PREFERRED STOCK -- ?II
CURRENT RATIOI
2.119614
ACID TEST RATIO:
.7825811
RECEIVABLES TURNOVER:
6.38585
TIMES
AVERAGE INVENTORY TURNOVER:
1.828116
TIMES
LT DEBT/TOTAL CAPITALIZATION:
.25135
TOTAL DEBT TO EQUITY,
1.00398
GROSS PROFIT MARGIN,
33.347
PERCENT
SELLING .. GENERAL AND ADMIN. EXPENSES TO SALES:
NET PROFIT MARGIN,
3.94047
PERCENT
RATE OF RETURN ON COMMON STOCK EQUITY: 8.42229
TURHOVER RATIO:
1.06657
TIMES
EARNING POWERI
11.20278
PERCENT
DONE
?73~726119
21.3125
PERCENT
PERCENT
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
GIRRPV
TITLE:
INVESTMENT RETURN (CASH FLOW)
DESCRIPTION:
This program calculates internal rates of return and/or present values
for sets of cash inflows and outflows over time.
INSTRUCTIONS:
The data may be entered from the terminal or from data statements. The
investment is assumed to begin at time period zero. The flow at period
is assumed to occur at the end of the first period; that at period 2 at
the end of the second period, etc. If all flows except the initial one
are the same, the program does not require each to be entered explicitly.
To determine
next choice.
then request
the program,
36513
the internal rate of return, respond IRR when asked for the
To determine the present value, respond PV; the program will
a discount rate. To do a new problem, respond NEW. To stop
--respond STOP.
Every outflow must be entered as a minus number (including the one in period
zero). Inflows must be entered as positive numbers -- the plus sign is optional.
If data statements are used, the following information should be included
for each investment:
- the number of periods
- the cash flow for period zero
- the cash flow for period one
- "YES" if all the rest of the flows are the same;
"NO" if the remaining flows differ from the first
- if the remai~ing flows differ:
- flow for the second period
- flow for the third period, etc.
Data statements should be entered beginning at line 9000. Additional
investments may be included by adding more data statements.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GIRRPV, Page 2
RUN
PLEASE INDICATE INPUT SOURCE
T (FOR TERMINAL)
D(FOR DATA STATEMENTS)
SOURCE1T
NUMBER OF PERIODS AFTER PERIOD ZER015
+ REPRESENTS A NET INFLOWI - REPRESENTS A NET OUTFLOW
INITIAL CASH FLOW IN PERIOD ZER01-18SSS
CASH FLOW IN FIRST PERIOD156SS
ARE ALL THt REST OF THE FLOWS THE SAME1YES
WHAT NEXT (IRRIPVINEW OR STOP)1IRR
THE INTERNAL RATE OF RETURN IS 16.8
PERCENT
DISCOUNT RATE (IN PERCENT)11S
NET PRESENT VALUE IS 3228.41
WHAT NEXT (IRR1PVINEW OR STOP)?NEW
NUMBER OF PERIODS-AFTER PERIOD ZERO?5
+ REPRESENTS A NET INFLOW, - REPRESENTS A NET OUTFLOW
INITIAL CASH FLOW IN PERIOD- ZERO?-35SS
CASH FLOW IN FIRST PERIOO?2SS
ARE ALL THE REST OF THt FLOWS THE SAME?NO
PERIOD 2
FLOW?2SS0
FLOW114SS
PERIOD 3
PERIOD 4
FLOW?6SS
PERIOD 5
FLOW?-ISS
DISCOUNT RATE (IN PERCENT)? IS
NtT PRESENT VALUE IS -265.732
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
GKASSF
TITLE:
WARRANT PRICE CALCULATION
DESCRIPTION:
This program allows the user to calculate the "normal" price of a
warrant and the "normal" change in the warrant's price per dollar
change in the price of the associated stock.
INSTRUCTIONS:
Required inputs are requested by the program, as shown in the sample run.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
The formul a used is that gi ven on page 204 of Beat the Market by
Kassouf and Thorpe.
Graduate School of Bus i ness
Stanford University
36514
GKASSF, Page 2
RUN
RUN
GKASSF
COMMON STOCK PRICE145
NUMBER OF SHARES PER WARRANT? 1
EXERCISE PRICE?S9
PREVIOUS YEAR'S HIGH FOR STOCK?69
PREV10US YEAR'S LOW FOR STOCK?49
MONTHS REMAINING BEFORE EXPIRATION?72
CURRENT YIELD (E.G •• 95)1.93
NUMBER OF OPTIONS OUTSTANDING158999
NUMBER OF COMMON SHARES OUTSTANDING?15988S
'NORMAL' WARRANT PRICE • 15.5292
'NORMAL' CHANGE IN WARRANT PRICE PER DOLLAR CHANGE IN STOCK
PRICE. .645292
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
GKCOST
TITLE:
PRICE/EARNINGS RATIO CALCULATION
DESCRIPTION::
This program calculates the theoretical PIE ratio for a given firm. It
takes advantage of the fact that most firms financial future may be
thought of as years segmented into periods of similar financial policy.
Within each segment, the firm's growth rate, dividend payout ratio and
discount rate are assumed constant. The common stock PIE ratio is calculated assuming an initial EPS of $1.00. To get the theoretical market
price of the stock, you need only multiply the PIE ratio by the actual
beginning EPS.
36515
I
INSTRUCTIONS:
To use this program, segment your firm's future into years of similar
financial nature, then input the starting year and ending year of each
segment as well as its characteristic growth rate, payout ratio, and
discount rate for each segment. For your final ending year, Type II¢II.
The program uses an infinite model for the last year.
Be sure to remember that when entering ratios and rates percentages are
input as 1133 11 , not 11.33 11 or 1133%11.
There are two output formats, a long and short form. The long form
prints out all intermediate calculations while the short form prints
out just the answer.
SPECIAL
CONSI DERATIONS:
You may rerun this program using a madified version of your initial
data as follows:
IINo change in the existing values
IIIndividuallyll change each segment's value
IIPercentage ll change in all segment values
1I0ne ll new value to be applied to all segments
lI
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GKCOST, Page 2
RUN
RUN
GKCOST
SHARE PRICE (P/E) CALCULATIONS
DO YOU WISH DIRECTIONS ?NO
HOW MANY SEGMENTS WILL YOU USE (MAX IS 20) ?4
PLEASE INPUT YOUR DATA IN THE FOLLOWING ORDER, SEPARATED BY COMMAS,
STARTING YEAR, ENDING YEAR, GROWTH RATE, PAYOUT RATIO, DISCOUNT RATE
?1,5,25,0,12
?6,18,15,29,12
111,28,10,30,12
121,9,.,60,12
'LONG' OR 'SHORT' FORMAT ?LONG
SHARE PRICE (P/E) CALCULATIONS
SEGMENT
NO.
1
2
3
4
YEARS
S
E
1
6
11
21
5
1"
2"
"
PRIOR
COMPOUND
SEGMENT X GROWTH
EPS
FACTOR
".9"
3°.05
1."0
3°."5
2 1
6°.14
2°.59
".,,"
0."
GROWTH
RATE
DIVIDEND
PAYOUT
DISCOUNT
RATE
".25"
0.15"
9°.19"
" °.840
".9""
".2""
".39"
"°. 6 ",,
".12"
".129
".12"
".12"
CURRENT
DIVIDEND
G-P.V.
BEGINNING X PAYOUT
X DISCOUNT
EPS
RAT10
FACTOR
7."4
1.""
5.42
3."5
".2"
6 .14
9.97
" • 3"
15.92
13.""
".6"
SEGMENT
PRICE
DIVIDEND + DISCOUNT
VALUE
2" .13
3.31
32.16
16°.70
39°.98
124.18
9.""
".,,"
".,,"
TOTAL
VALUE
2" • 13
35.47
56.68
124.18
DESIRED RERUN OPTION'
'MODIFY', 'START' OVER, 'END' RUN 1MODIFY
MODIFICATION OPTIONS.
'NO' CHANGE, 'INDIVIDUA'~LY', 'PERCENTAGE', 'ONE' VALUE
MODIFY GROWTH RATE 1NO
MODIFY PAYOUT RATIO ?INDIVIDUALLY
HOW MANY SEGMENTS ? 2
WHICH ONES 12,4
SEGMENT 2
125
SEGMENT 4
175
SEGMENT
DIVIDEND
VALUE
".,,"
3.31
16.7"
124.18
GKCOST, Page 3
MODn'Y DISCOUNT RATE ?PERCENTAGE
WHAT PERCENTAGE CHANGE DO YOU WISH ?50
DIRECTIONS THIS RERUN ?NO
'LONG' OR 'SHORT' FORMAT ?SHORT
SHARE PRICE (PIE> CALCULATIONS
SEGMl-:NT
NO.
1
2
3
1&
YEARS
S
E
1
6
11
21
5
10
2115
"
GROWTH
RATE
DIVIDEND
PAYOUT
DISCOUNT
RATE
0.25S
0.150
S .1Se
e.SS0
0.25S
S.30S
S.750
115 • 180
115 .180
0.180
0.18S
o".0I&S
DESI1RED RERUN OPTION:
'MOD.IFY'" 'START' OVER" 'END' RUN ?END
DONE
TOTAL
VALUE
7.223
16.524
29.720
88.7S2
BUSINESS AND MANUFACTURING APPLICATIONS (700)
co NT R I BU TE D
P ROG R AM
BASIC
GNMRVB
TITLE:
SECURITIES PORTFOLIO ANALYSIS AND DETERMINATION
DESCRIPTION:
GNMRVB traces out the relationship between minimum non-market risk and
market sensitivity (beta) for portfolios composed from a set of stocks.
GMRGB finds the portfolio which gives the minimum amount of non-market
risk for a given level of market sensitivity (beta). Formally, they
solve the following problem:
N
Minimize:
l:
i=l
36530
X~R2.
1
1
N
subject to:
l:
i=l
N
l:
i=l
X.B. = B
1 1
X.
1
Xi
>
0 for all
The value of Xi is the proportion of the portfolio invested in security i.
Ri is a measure of the security i's relative non-market risk. Bi is a
measure of security i's market sensitivity (beta). ~ is the level of beta
for the entire portfolio. The relative non-market risk of the portfolio
is given by:
GNMRVB is used in conjunction with GMRGB. After the relationship between
minimum non-market risk and beta has been traced out, the "best" combination
can be chosen. The corresponding value of beta can then be used with program
GMRGB to find the composition of that portfolio.
INSTRUCTIONS:
GNMRVB and GMRGB require data statements beginning at line 9000 as follows:
1) the number of securities
2) for each security:
a) the value of beta
b) the security's relative non-market risk
GNMRVB requests a "STEP SIZE". This is the interval for calculation and
printing of beta levels. Values are always selected so that 1.00 is included.
The smaller the step size, the more detailed the results (and, of course, the
longer the time required to obtain them).
SPECIAL
CONSIDERA.TIONS:
ACKNOWLEDGEMENTS:
These programs use a special case of Markowitz critical line algorithm. In
some cases, they may produce errors due to roundoff problems. In such circumstances, the difficulty may be avoided by changing the data slightly.
I
Graduate School of Business
Stanford University
GNMRVB, Page 2
RUN
91300 DATA 5
913113 DATA .84,.386
9121 12 DA TAi. 121 6," • 3 74
9121 14 DATA 1 d 7, • 7 9 1
9121 16 DA TAl." 121 I, • 5 4 121
9,2118 DATA 1 7011".562
RUN
GNMRVB
HAVE YOU ENTERED YOUR DATA?YES
STEP SIZE?135
BETA
REL. NON-MKT RISK
r.-71313
1:6513
1;61313
1;5513
1;5013
1;4513
1;413121
1;3513
1."313121
1;25121
1;212113
1'-15,21
1'-112113
1'-121513
1'-131313
121;9513
121'-90121
0'-850
1.562
1:417
1'-276
1."142
1'-1317
13'-902
13'-789
121;68121
13."576
13.-479
13 ."392
13'-323
13.-275
121'-241
13.228
121'-239
13""286
13.-365
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
DONE
RUN
GMRGB
HAVE YOU ENTERED YOUR DATA?NO
ENTER DATA BEGINNING AT LINE 9121121121
FIRST, THE NUMBER OF SECURITIES
THENI FOR EVERY SECURITY -I) THE VALUE OF BETA
2) THE SECURITY'S RELATIVE NON-MARKET RISK
WHEN YOU HAVE ENTERED YOUR DATA STATEMENTS,
RE-RUN THE PROGRAM
DONE
9121121121 DATA
91211121 DATA
912112 DATA
912114 DATA
912116 DATA
912118 DATA
RUN
GMRGB
5
.84,.386
1.12161.374
1.171.791
1.011.54121
1.712111.562
HAVE YOU ENTERED YOUR DATA?YES
DESIRED LEVEL OF BETA? 1
SEC
1
2
3
4
5
PERCENT
-------
34.14
37.32
8.45
17.8121
2.3121
BETA =
RELATIVE NON-MARKET RISK •
DONE
1.121121
121.23
*
*
*
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAMBASIC
GNPSUM
36086
TITLE:
GROSS NATIONAL PRODUCT SUMMARY
DESCRIPTION:
GNPSUM produces figures for GNP, consumption, investment, and government
spending for a series of years from a model in which consumption is a
function of income in the previous period, and investment depends in part
on changes in consumption.
INSTRUCTIONS:
The following coefficients are to be input by the user:
(Note: All dollar values should be entered in exponential notation.
Example: $6 million = 6E + 6.)
The first four values refer to a base period:
A
the fraction consumption was of personal income
B
the actual value of investment expenditures
E
the value of government spending in this base period
Y(l)
the total GNP for this base period
The next five values are general information:
N
the number of periods the user wishes to analyze
the fraction disposable income is of total GNP
G
C
the additional investment added each period
F
the additional government spending each period
o
the fraction of the consumption increment that is to
be added to investment each period
N$
'Yes' implies H=l, and the business investment does
have a random component
INo' implies H=0, and the business investment does
not have a random component
The random component has a rectangular distribution,
and ranges from +10% to -10% of the value of B + (C * T)
For a user familiar with GNPSUM, the following changes can be made to
read data-statements instead of the long input routine:
9146 READ A,B,E,Y(l),N,G,C,F,D,N$
9147 GOTO 9320
Add data-statements for the values in 9146 beginning in line 9900.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
Maximum of 29 periods.
To increase this dimension alter line 9345.
GNPSUM, page 2
RUN
GET - S GNP S UM
RUN
GNPSUM
• GNP SUMMARY
•
THIS PROGRAM PRINTS A SUMMARY OF FIGURES FOR GNP# CONSUMPTION# INVESTMENT# AND GOVERNMENT SPENDING FOR A SERIES OF CONSECUTIVE YEARS.
THE FOLLOWING FOUR QUESTIONS REFER TO A BASE PERIOD.
FOR THE BASE PERIOD# WHAT FRACTION OF PERSONAL INCOME WAS CONSUMPTION
1.91
WHAT WAS THE TOTAL INVESTMENT DURING THIS PERIOD? (IN DOLLARS)110E+9
WHAT WAS THE GOVERNMENT SPENDING FOR THIS PERIOD?112E+9
AND WHAT WAS THE TOTAL GNP FOR THIS BASE PERIOD?465E+9
HOW MANY PERIODS DO YOU WISH TO ANALYZE?12
FOR THIS MODEL# WHAT FRACTION OF GNP SHOULD BE USED AS DISPOSABLE INCOME
1.72
HOW MUCH NEW INVESTMENT SHOULD BE ADDED EACH PERIOD12.5E+6
HOW MUCH NEW GOVERNMENT SPENDING SHOULD BE ADDED EACH PERIOD?100E+6
WHAT FRACTION OF THE CHANGE IN CONSUMPTION FROM PERIOD TO PERIOD SHOULD
BE RE-INVESTED?333
DOES THE NORMAL BUSINESS INVESTMENT HAVE A RANDOM COMPONENT?YES
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
YEAR
0
I
2
3
~
5
6
7
8
9
10
11
12
GNP
------4..65000E+I I
4.26771[+11
3. 88622E+ 11
3.67908[+11
3.54477E+ll
3.50012E+l1
3.48810E+ll
3.50575E+l1
3. 52299E+ 1 1
3.54436E+l1
3.56365E+II
3.56676E+II
3.57383E+l1
CONSUMPTION
-----------
3.43000E+II
3.04668E+ll
2.79620[+ 11
2.54625[+ 1 1
2.41053E+ll
2.32253E+ll
2.29328E+l1
2. 28540E+ 1 1
2.29697E+l1
2.30826E+l1
2.32226E+ll
2.3349IE+ll
2.33694E+l1
INVESTMENT
----------
1·00000E+10
1.00025[+10
-3.29849[+09
8.83005E+08
9.23935E+08
5.15860E+09
6.78220E+09
9.23503E+09
9.70215E+09
1.06095E+10
1 • 103 90E + 10
9.98527E+09
1.03885E+10
GOV·T. EXP.
----------1.12000E+II
1.12100[+11
1.12300E+ll
1.12400E+l1
1 • 12 500 E+ 1 1
1.12600E+l1
1 .12700E+l 1
1. 12800E+l t
1.12900E+l1
1.13000E+l1
1.13100E+ll
1.13200E+ll
1.13300E+ll
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
GRISKA
36543
TITLE:
RISK ANALYSIS IN CAPITAL INVESTMENT
DESCRIPTION:
The evaluation of a capital investment project starts with the principle
that the productivity of capital is measured by the rate of return we expect to receive over some future period. A dollar received next year is
worth less to us than a dollar in hand today. Expenditures three years
hence are less costly than expenditures of equal magnitude two years from
now. For this reason we cannot calculate the rate of return realistically
unless we take into account (a) when the sums involved in an investment
are spent and (b) when the returns are received.
Comparing alternative investments is thus complicated by the fact that they
usually differ not only in size but also in the length of time over which
expenditures will have to be made and benefits returned.
It is these facts of investment life that long ago made apparent the short~
comings of approaches that simply averaged expenditures and benefits, or
lumped them, as in the number-of-years-to-pay-out method. These shortcomings
stimulated students of decision making to explore more precise methods for
determining whether one investment would leave a company better off in the
long run than would another course of action.
It is not surprising, then, that much effort has been applied to the development of ways to improve our ability to discriminate among investment alternatives. The focus of all of these investigations has been to sharpen the
definition of the value of capital investments to the company. The controversy and furor that once came out in the business press over the most appropriate way of calculating these values has largely been resolved in favor of
the discounted cash flow method as a reasonable means of measuring the rate
of return that can be expected in the future from an investment made today.
Thus we have methods which, in general, are more or less elaborate mathematical formulas for comparing the outcomes of various investments and the combinations of the variables that will affect the investments. 1 As these techniques have progressed, the mathematics involved has become more and more
precise, so that we can now calculate discounted returns to a fraction of a
percent.
SPECIAL
CONSIDERATIONS:
Analysis of the sort advocated by Hertz in "Risk Analysis in Capital Investment," (Harvard Business Review, January-February 1964) can be performed using
this program. This documentation contains excerpts from the article; permission
to reprint has been granted by the publishers.
1 See for example, Joel Dean, Capital Budgeting (New York, Columbia University
Press, 1951); "Return on Capital as a Guide to Managerial Decisions," National
Association of Accounts Research Report No. 35, December 1,1959; and Bruce F.
Young, "Overcoming Obstacles to Use of Discounted Cash Flow for Investment
Shares," NAA Bulletin, March 1963, p. 15.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GRISKA, page 2
DESCRIPTION:
(conti nued)
Summary of New Approach
After examining present methods of comparing alternative investments, Mr. Hertz reports on his
firm's experience in applying a new approach to the problem. Using this approach, management
takes the various levels of possible cash flows, return on investment, and other results of a
proposed outlay and gets an estimate of the odds for each potential outcome.
Currently, many facilities decisions are based on discounted cash flow calculations. Management
is told, for example, that Investment X has an expected internal rate of return of 9.2%, while
for Investment Y a 10.3% return can be expected.
By contrast, the new approach would put in front of the executive a schedule which gives him the
most likely return from X, but also tells him that X has 1 chance in 20 of being a total loss,
1 in 10 of earning from 4% to 5%, 2 in 10 of paying from 8% to 10%, and 1 chance in 50 of attaining a 30% rate of return. From another schedule he learns what the most likely rate of return is
from Y, but also that Y has 1 chance in 10 of resulting in a total loss, 1 in 10 of earning from
3% to 5% return, 2 in 10 of paying between 9% and 11%, and 1 chance in 100 of 30%.
In this instance, the estimates of the rates of return provided by the two approaches would not be
substantially different. However, to the decision-maker with the added information, Investment Y
no longer looks like the clearly better choice, since with X the chances of substantial gain are
higher and the risks of loss lower.
Two things have made this approach appealing to managers who have used it:
1.
Certainly in every case it is a more descriptive statement of the two opportunities. And in
some cases it might well reverse the decision, in line with particular corporate objectives.
2.
This is not a difficult technique to use, since much of the information needed is already
available - or readily accessible - and the validity of the principles involved has, for the
most part, already been proved in other applications.
The enthusiasm with which managements exposed to this approach have received it suggests that it
may have wide application. It has particular relevance, for example, in such knotty problems as
investments relating to acquisitions or new products, and in decisions that might involve excess
capacity.
INSTRUCTIONS:
The program will first ask how many trials (iterations) you want. Each trial simulates one
possible set of outcomes. Since each takes some time, it is a good idea to limit the analysis
to forty or fifty trials, at least at first.
The program will ask if you want price, sales, and operating costs to be interdependent. If
you say NO, each will be drawn "randomly", without regard to the values drawn for the other two.
If you say YES, they will be determined together. One draw will be made: if price and operating
costs are especially high, the share of market will be especially low, and vice-versa.
The program will also ask if you want to select the output format. If you say NO, the program
will summarize the possible rates of return from -15% to +30%, in ranges of 5%. If you say YES,
the program will allow you to select the ranges to be used.
The program will next request three estimates for each of nine factors.
i nterpretati ons:
These have the following
"l ow value:
there should be roughly 9 chances out of 10 that the
actual value will exceed this estimate.
"most likely" value:
this is the best single estimate of the actual value
"high" value:
there should be roughly 1 chance out of 10 that the
actual value will exceed this estimate
Given this information, the program will perform the desired number of simulations and provide
the requested summary information.
Warning: If the number of trials is not large, the results may depend to a considerable extent
on the particular "draws" made during the simulation.
GRISKA, Page 3
RUN
RUN
GR:lSKA
RISK ANALYSIS PROGRAM
H0111 MANY ITERATIONS (TRIALS) DO YOU WANT?4S
DO YOU WANT PRICEI SALES AND OPERATING COSTS
TO BE INTERDEPENDENT?YES
DO you WANT TO SELECT THE OUTPUT FORMAT?YES
RATE OF RETURN RANGE -FROM (1)1-U'
TO ·(1 )?+411
:lNTERVAL WIDTH (1)15
FOJ~
EACH FACTORI ENTER THREE ESTIMATES
LOWI MOST LIKELYI HIGH
INVESTMENT (IN DOLLARS)?9SS I ISSSIIIS0
MARKET SIZE (IN UNITS)?8SSIISSSI12SS
SELLING PRICE (IN DOLLARS)?9S I I.SS I I.1S
MARKET GROWTH RATE (I PER YEAR)?-ISISlle
SHARE OF MARKET (1)?4SI5SI6S
RESIDUAL VALUE OF INVESTMENT (IN DOLLARS)?0 1 1SeI2SS
OPERATING COSTS (IN DOLLARS PER UNIT)?351.5SI.65
FIXED COSTS (IN DOLLARS PER YEAR)?4SI5SI6S
USEFUL LIFE (IN YEARS)?9 1 1S I 11
AVERAGE· CASH· FLOWS
YEAR
YEAR
YEAR
YEAR
YEAR
209.55
218.SS
227-'16
237.11
247·.94
259".73
272".59
286.62
326 ·.S3
172.21
37.11
1
2
3
4
5
6
7
8
9
IS
YEAR
YEAR
YEAR
YEAR
YEAR
YEAR 11
AVERAGE TOTAL INVESTMENT.
999.1&33
EXPECTED PAYBACK PERIODa 3
TO 1&
EXPECTED RATE OF RETURN (1)1
18.4275
RA'~E
FROM
BELOW
-UI
-5
S
5
UI
15
21
211:'_I
31
311:'_I
ABOVE
OF RETURN
TO
-------HI
-5
S
5
IS
15
2S
25
3S
35
4S
1&8
YEARS
(I)
PROBe
"
S.SSS
S·.S25
S·.SSS
S·.250
S-'125
S·.2SS
S.2S8
S·.075
8·.85S
S.S25
.85
PROBe R IS GREATER
----------------1
I.SSS
S.975
S.975
S.725
S.6SS
S.4SS
S.2SS
S .125
8.S75
S.S5S
S.SS8
GRISKA, Page 4
FACTOR
INVESTMENT' (IN' DOLLARS)
SELLING PRICE (IN DOLLARS)
MARKET GROWTH IlATE (I PER YEAR)
SHARI: 0,. ICARUT (I)
RESIDUAL VALUE OF INVESTMENT (IN DOLLARS)
OPERATING COSTS (IN DOLLARS PER UNIT)
FIXED COSTS (IN DOLLARS PER YEAR)
USEFUL LIFE (IN YEARS)
DONE
AVERAGE VALUE
999.43
1 '.""
2.81
1&9.55
187.86
".51
119.84
9.87
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
GSTKVL
36545
TITLE:
STOCK VALUATION
DESCRIPTION:
The program computes the present value of a stock, based on alternative
assumptions about the growth rates for dividends and earnings, the
terminal price/earnings ratio, and the relevant rate of discount.
INSTRUCTIONS:
The user must include data statements, beginning at line 1000, indicating
for each of a number of time segments:
a)
b)
c)
the growth rate in dividends per share
the payout ratio
the final period of the segment
The program will request:
a)
0)
c)
the current earnings per share
a range of terminal price/earnings ratios to be analyzed
a range of returns (discount rates) to be analyzed
The ranges will be divided into equally spaced values and a table of implied
present values for the stock printed.
Example
Florida Power has averaged about 9% qrowth in EPS over the past few years.
We assume that eventually this unusually rapid growth will slow. Presumably
at that time Florida Power's PIE ratio will drop to that of a "non-growth"
utility (currently 10 to 13) and the firm will probably be paying out about
70% of earnings in dividends, the current payout ratio is 55%. Based on
this and other information, suppose we make the following projections:
Time Period
Next 5 years
Years 6 - 10
EPS Growth Rate
8%
6%
Payout Ratio
.60
.65
Furthermore, we assume that in year 10, Florida Power shares will sell at
10 to 13 times earnings. Latest 12 month EPS are $2.94. High grade bonds
are yielding around 8%. The attached example run shows how to find the
prices we could pay for Florida Power stock and earn annual returns of
between 8 and 15 percent over the next 10 years, assuming our forecasts
are valid.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
GSTKVL, Page 2
RUN
RUN
GSTKVL
HAVE YOU ENTERED YOUR DATA STATEMENTS?NO
EACH CASE REQUIRES THE FOLLOWING DATA -THE NUMBER OF SEGMENTS
THENI FOR EACH SEGMENT -THE GROWTH RATE IN DIVIDENDS PER SHARE
PAYOUT RATIO
FINAL PERIOD OF THE SEGMENT
ENTER DATA STATEMENTS BEGINNING AT LINE 1000
FOR MULTIPLE RUNSI SIMPLY PROVIDE ADDITIONAL SETS OF DATA
AFTER DATA STATEMENTS HAVE BEEN ENTEREDI RE-RUN THE PROGRAM
DONE
lS00 DATA 21 .061 .61 51 .861 .651 10
RUN
GSTKVL
HAVE YOU ENTERED YOUR DATA STATEMENTS?YES
CURRENT EARNINGS/SHARE?2.94
GROWTH RATES
PERIOD 1
PERIOD 2
.06
.06
RANGE OF TERMINAL PIE RATIOS -LOW?18
HIGH?13
RANGE OF RETURNS DESIRED (DECIMAL)
LOW?08
HIGH? .15
RETURN
.88
.8975
.115
.1325
.15
---------- PIE RATIO ------------------------------11
12
13
43.2166
45.6553
48.e941
37.6506
39.7272
41.8038
32.9254
34.6982
36.471
28.9007
30.4178
31.9349
25.4611
26.7626
28.064
10
40.7778
35.5739
31.1527
27.3835
24.1597
CODES FOR NEXT TASK:
,,: ALL NEW DATA
1: SAME CURRENT EPS 1 NEW PROJECTIONS
2: NEW EPSI SAME PROJECTIONS
3: STOP
NEXT TASK?3
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONT R I BU TE 0
P ROG R AM
BASIC
GTHOR
TITLE:
SECURITIES EPS GROWTH
DESCRIPTIONI:
This program finds the number of years of constant growth in earnings per
share required to justify the current price of a stock. It also provides
the present values of the dividends and terminal share price for one less
year of growth.
INSTRUCTIONS:
All input is from the terminal. The program asks the user to enter the
growth rate, the current share price, earnings per share, initial growth
rate in EPS, number of years of declining growth, discount rate, and
current payout ratio.
ACKNOWLEDGEMENTS:
Graduate School of Business
Stanford University
36553
GTHOR, Page 2
RUN
RUN
GTHOR
DO YOU WANT INSTRUCTIONS?YES
THIS PROGRAM FINDS THE NUMBER OF YEARS OF CONSTANT GROWTH
IN EARNINGS PER SHARE REQUIRED TO JUSTIFY THE CURRENT SHARE
PRICE. YOU MUST SPECIFY THE INITIAL GROWTH RATE IN EPS AND
THE NUMBER OF YEARS DURING WHICH THIS GROWTH RATE WILL
DECLINE TO.
PERCENT (OR .1.
) PER YEAR.
IN ADDITION TO PROVIDING THE NUMBER OF YEARS OF CONSTANT
GROWTH REQUIRED AT THE RATE YOU SPECIFY 1 THE PROGRAM ALSO
PROVIDES THE PRESENT VALUES OF THE DIVIDENDS AND TERMINAL
SHARE PRICE FOR ONE LESS YEAR OF GROWTH. THIS ENABLES
YOU TO EXAMINE THE SENSITIVITY OF YOUR ASSUMPTIONS.
IN COMPUTING ANNUAL DIVIDENDS THE PROGRAM ASSUMES THAT
THE PAYOUT RATIO WILL REMAIN AT ITS CURRENT LEVEL FOR FIVE
YEARS AND THEN CHANGE GRADUALLY UNTIL IT REACHES .6
IN THE YEAR WHEN ANNUAL GROWTH IN EPS DROPS TO 4
PERCENT.
IF YOU WANT TO USE A FINAL GROWTH RATE OTHER THAN .14
TYPE IT (AS A DECIMAL); OTHERWISE TYPE .1.
GROWTH RATE?S.
WHAT IS THE CURRENT SHARE PRICE?66
EARNINGS PER SHARE?2.87
INITIAL GROWTH RATE IN EPS (AS A DEClMAL)?11
NUMBER OF YEARS OF DECLINING GROWTH?6
THE DISCOUNT RATE (AS A DEClMAL)?12
THE CURRENT PAYOUT RATIO (AS A DEClMAL)?48
YOUR INPUT IMPLIES A FINAL PIE RATIO OF 7.5
IF THIS IS NOT SATISFACTORY YOU MAY CHANGE IT BY TYPING
ANOTHER PIE RAtIO; OTHERWISE TYPE I. VALUE?12
----------~------~---------------------PRICE OF 66
ASSUMES.l
YEARS OF CONSTANT GROWTH IN EPS.
THE PRESENT VALUE(INTRINSIC VALUE) IS 59.1811
INTRINSIC VALUE FOR Nl- 40
IS 58.7523
SHARE PRICE IN 46
YEARS- 2337.91
DO YOU WANT TO RUN MORE DATA?NO
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CON T R I BU TE D P ROG R AM
BASIC
GVPDQT
36554
TITLE:
PLOTTING DATA
DESCRIPTION:
These two programs allow the user to plot data from the GPDQ data bases and/or
his own data bases. GVPDQT uses a teletype for output, and VPDQ uses the
Tektronix 4010 terminal for output. For further information about the files,
see the descriptions contained in this documentltion, and a similar program,
GCHLIN, HP No. 36503A.
INSTRUCTIONS:
By and large, the programs provide the information required for their use.
The user can select a fund from the GPDQF file, an index from the GPDQI file,
a stock from the GPDQS file, or a record from a file in his own account named
PDQP. Another file, STRING, whose entries form a subset of the ASCII character set, is also used by this program.
(continued on page 2)
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
For detailed instructions for using the Tektronix 4010 display, see "Special
Considerations" section of VSUB, HP No. 36558, page 3.
Graduate School of Business
Stanford University
GVPDQT. Page 2
INSTRUCTIONS:
(continued)
lPDQF
GPDQF is a file of data on quarterly prices and dividends paid by 100 open-end mutual funds. The
funds were chosen randomly from those for which data were readily available for the period 1965-1970.
For each quarter, the following information is given:
"opening price"
- net asset value per share as of the close of the market on the last trading day
of the previous quarter.
"dividends"
- all dividends received by an investor who held one share at the beginning of the quarter;
any other distributions that qualify as income are also included.
"ending price"
- the total value of the holdings of an investor who held one share at the beginning
of the quarter. This includes the net asset value of the share (or shares, in the case
of splits) at the close of the market on the last trading day of the quarter. It also
includes the value of any distributions received during the quarter that qualify as
capital gains.
Each fund is allocated one record on the file. Fund number 1 is on record 1; fund number 2 on record
2, etc. Each record contains 40 quarters of information, as follows:
opening price
dividends
closing price
1st quarter of 1st year
1st quarter of 1st year
1st quarter of 1st year
opening price
dividends
closing price
2nd quarter of 1st year
2nd quarter of 1st year
2nd quarter of 1st year
etc.
Any missing value is represented by -999.
Following the 120 data values on each record are:
- the first year for which data are given (e.g. 1963)
- the name of the fund (up to 20 characters)
This file uses the same format as GPDQI and GPDQS.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
The funds are listed as follows:
ABERDEEN FUND
AFFILIATED FUND INC.
AMERICAN BUSINESS SHARES INC.
AMERICAN INVESTORS FUND INC.
AMERICAN MUTUAL FUND INC.
ANCHOR - FUNDAMENTAL INVESTORS
ANCHOR - GROWTH FUND
ASSOCIATED FUND TRUST
AXE-HOUGHTON FUND A INC.
AXE-HOUGHTON FUND B INC.
AXE-HOUGHTON STOCK FUND INC.
AXE SCIENCE CORP.
BOSTON FUND INC.
BROAD STREET INVESTING CORP.
BULLOCK FUND LTD.
CENTURY SHARES TRUST
CHASE FUND OF BOSTON
CHASE SHAREHOLDERS TRUST OF BOSTON
CHEMICAL FUND INC.
COLONIAL FUND INC.
AMERICAN EXPRESS INCOME FUND INC.
AMERICAN EXPRESS INVESTMENT FUND INC.
AMERICAN EXPRESS STOCK FUND INC.
COMPOSITE BOND AND STOCK FUND
COMPOSITE FUND INC.
GVPDQT, Page 3
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
CONCORD FUND INC.
DE VEGH MUTUAL FUND INC.
DELAWARE FUND INC.
BULLOCK -- DIVIDEND SHARES INC.
DREYFUS FUND INC.
ENERGY FUND INC.
EQUITY FUND INC.
FIDELITY CAPITAL FUND INC.
FIDELITY FUND INC.
FINANCIAL INDUSTRIAL FUND
FLORIDA GROWTH FUND INC.
FOUNDERS MUTUAL FUND
GROUP SECURITIES INC. -- COMMON STOCK FUND'
GROWTH INDUSTRY SHARES INC.
GUARDIAN MUTUAL FUND INC.
HAMILTON FUNDS INC. -- SERIES HDA
INCOME FUND OF BOSTON INC.
INVESTMENT COMPANY OF AMERICA
INVESTMENT TRUST OF BOSTON
INVESTORS RESEARCH FUND INC.
ISTEL FUND INC.
JOHNSTON MUTUAL FUND INC.
KEYSTONE CUSTODIAN FUND B-1
KEYSTONE CUSTODIAN FUND B-2
KEYSTONE CUSTODIAN FUND B-4
KEYSTONE CUSTODIAN FUND K-l
KEYSTONE CUSTODIAN FUND K-2
KEYSTONE CUSTODIAN FUND S-l
KEYSTONE CUSTODIAN FUND S-2
KEYSTONE CUSTODIAN FUND S-3
KEYSTONE CUSTODIAN FUND S-4
KNICKERBOCKER FUND
KNICKERBOCKER GROWTH FUND INC.
LIFE INSURANCE INVESTORS INC.
LOOMIS-SAYLES MUTUAL FUND
MAGNA INCOME TRUST
MASSACHUSETTS INVESTORS GROWTH STOCK FUND
MASSACHUSETTS INVESTORS TRUST
MUTUAL SHARES CORP.
MUTUAL TRUST
NATIONAL INVESTORS CORP.
NATIONAL SECURITIES SERIES - BALANCE SERIES
NATIONAL SECURITIES SERIES -- BOND SERIES
NATIONAL SECURITIES SERIES -- DIVIDEND SERIES
NATIONAL SECURITIES SERIES -- PREFERRED STOCK SERIES
NATIONAL SECURITIES SERIES -- INCOME SERIES
NATIONAL SECURITIES SERIES -- STOCK SERIES
NATIONAL SECURITIES SERIES -- GROWTH STOCK SERIES
ONE WILLIAM STREET FUND INC.
OPPENHEIMER FUND INC.
PENN SQUARE MUTUAL FUND
PHILADELPHIA FUND INC.
PINE STREET FUND INC.
PIONEER FUND INC.
PRICE (T. ROWE) GROWTH STOCK FUND
PURITAN FUND INC.
PUTNAM (GEORGE) FUND
PUTNAM GROWTH FUND
SCUDDER STEVENS AND CLARK - BALANCED FUND
SCUDDER STEVENS AND CLARK - COMMON STOCK FUND
SIGMA INVESTMENT SHARES
SIGMA TRUST SHARES
SOUTHWESTERN INVESTORS INC.
SOVEREIGN INVESTORS INC.
STEIN ROE AND FARNHAM - BALANCED FUND
STEIN ROE AND FARHNAME - STOCK FUND
TWENTIETH CENTURY GROWTH INVESTORS
VALUE LINE FUND INC.
VALUE LINE INCOME FUND INC.
VALUE LINE SPECIAL SITUATIONS FUND
WALL STREET INVESTING CORP.
WASHINGTON MUTUAL INVESTORS FUND INC.
WELLINGTON FUND INC.
WHITEHALL FUND INC.
WISCONSIN FUND INC.
GVPDQT, Page 4
SPDQS is a file of quarterly prices and dividends for the thirty stocks used in 1971 to compute
Jow-Jones' Industrial Average. For each quarter, the following information is given:
"opening price"
- this is the price of one share of the stock as of the close of trading on the last
trading day of the previous quarter.
"dividends"
- this includes all dividends received during the quarter by a person who held one share
at the beginning of the quarter. Any distribution treated as income is also included.
"closing price"
- this is the value of the holdings of an investor who held one share at the beginning
of the quarter. The value is calculated as of the close of the last trading day in
the quarter.
Each stock is allocated one record on the file. Stock number 1 is on record 1; stock 2 on record 2,
etc. Each record contains 40 quarters of information as follows:
opening price
dividends
closing price
1st quarter of 1st year
1st quarter of 1st year
1st quarter of 1st year
opening price
dividends
closing price
2nd quarter of 1st year
2nd quarter of 1st year
2nd quarter of 1st year
etc.
Any missing value is represented by -999.
Following the 120 data values on each record are:
- the first year for which data are given (e.g., 1963)
- the name of the stock (up to 20 characters)
The file uses the same format as GPDQI and GPDQF.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
The stocks are listed as follows:
ALLIED CHEMICAL
ALUMINUM COMPANY OF AMERICA
AMERICAN BRANDS
AMERICAN CAN COMPANY
AMERICAN TELEPHONE AND TELEGRAPH
ANACONDA
BETHLEHEM STEEL
CHRYSLER CORPORATION
DUPONT (E.I.) DE NEMOURS
EASTMAN KODAK
GENERAL ELECTRIC
GENERAL FOODS
GENERAL MOTORS
GOODYEAR TIRE AND RUBBER
INTERNATIONAL HARVESTER
INTERNATIONAL NICKEL COMPANY OF CANADA
INTERNATIONAL PAPER COMPANY
JOHNS-MANVILLE CORPORATION
OWENS-ILLINOIS
PROCTER AND GAMBLE
SEARS ROEBUCK
STANDARD OIL OF CALIFORNIA
STANDARD OIL OF NEW JERSEY
SWIFT AND COMPANY
TEXACO
UNION CARBIDE
UNITED AIRCRAFT
U.S. STEEL
WESTINGHOUSE ELECTRIC
WOOLWORTH (F.W.) COMPANY
GVPDQT, Page 5
GPDQI is a file of quarterly prices and dividends for 98 common stock indices published
by Standard and Poorls and returns on 90-day Treasury bills. For each quarter, the
following information is given:
"opening price"
- this is the value of the index as of the end of the previous quarter, as
reported by Standard and Poorls.
"dividends"
- this is the value of dividends paid by the stocks in the index during the
quarter, as reported by Standard and Poorls.
"closing price"
- this is the value of the index as of the end of the quarter, as reported
by Standard and Poorls.
Each index is allocated one record on the file. Index number 1 is on record 1;
index 2 on record 2, etc. Each record contains 120 numbers, as follows:
opening price
dividends
closing price
1st quarter of 1st year
1st quarter of 1st year
1st quarter of 1st year
opening price
dividends
closing price
2nd quarter of 1st year
2nd quarter of 1st year
2nd quarter of 1st year
Any missing value is represented by -999.
Following the 120 data values on each record are:
- the first year for which data are given (e.g., 1963)
- the name of the index (up to 20 characters)
For 90-day Treasury bills, the three values are:
"opening price"
- the average of the bid and ask prices at the end of the previous quarter
for the 90-day bill expiring on the date nearest the end of the quarter
(e.g., 98.8)
"dividends"
- zero
"closing price"
- 100
The file uses the same format as GPDQF and GPDQS. The indexes are listed as follows:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
500 STOCKS
425 INDUSTRIALS
20 RAILS
55 UTILITIES
CAPITAL GOODS
CONSUMER PRODUCTS
HIGH GRADE
LOW PRICED
AEROSPACE
AIR TRANSPORT
ALUMINUM
AUTOMOBILE
AUTO PARTS
AUTO TRUCKS &PARTS
BREWERS
DISTILLERS
SOFT DRINKS
CEMENT
HEATING & PLUMBING
GVPDQT, Page 6
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
ROOFING & WALLBOARD
HOME FURNISHINGS
CHEMICALS
BITUMINOUS COAL
CONFECTIONERY
CONTAINERS - METAL & GLASS
CONTAINERS - PAPER
COPPER
DRUGS
ELECTRICAL EQUIPMENT
ELECTRICAL HOUSEHOLD APPLIANCES
ELECTRONICS
BUILDING MATERIALS COMPOSITE
FINANCE COMPANIES
SMALL LOAN
FOOD - BISCUIT BAKERS
FOOD - BREAD & CAKE
FOOD - CANNED
FOOD - CORN REFINERS
FOOD - DIARY PRODUCTS
FOOD - MEAT PACKING
FOOD - PACKAGED FOODS
GOLD MINING
LEAD & ZINC
MACHINE TOOLS
AGRICULTURAL MACHINERY
CONSTRUCTION &MATERIAL HANDLING
INDUSTRIAL MACHINERY
OIL WELL EQUIPMENT
SPECIALTY MACHINERY
STEAM GENERATING EQUIPMENT
METAL FABRICATING
METAL MISCELLANEOUS
MOTION PICTURES
OFFICE EQUIPMENT
CRUDE OIL PRODUCERS
INTEGRATED OILS - DOMESTIC
INTEGRATED OILS - INTERNATIONAL
PAPER
PUBLISHING
RADIO &TV BROADCASTERS
RADIO &TV MANUFACTURERS
RAILROAD EQUIPMENT
TEXTILES - SYNTHETIC FIBERS
DISCOUNT STORES
DEPARTMENT STORES
FOOD STORES
MAIL ORDER
VARIETY STORES
SHIPBUILDING
SHIPPING
SHOES
SOAPS
STEEL
SUGAR-BEET REFINERS
FOOD COMPOSITE
SUGAR-CAN REFINERS
SULPHUR
TEXTILES - APPAREL MAHUFACTURERS
TEXTILE PRODUCTS
TIRE & RUBBER
TOBACCO - CIGARETTE MANUFACTURERS
TOBACCO - CIGAR MANUFACTURERS
VEGETABLE OILS
VENDING MACHINES
ELECTRIC COMPANIES
NATURAL GAS DISTRIBUTORS
PIPELINES
TELEPHONE
BANKS - NEW YORK CITY
BANKS - OUTSIDE NEW YORK CITY
OIL COMPOSITE
INSURANCE - FIRE & CASUALTY
INSURANCE - LIFE
INVESTMENT COMPANIES
COSMETICS
ELECTRONIC MAJOR COMPANIES
HOLDING COMPANIES
TRUCKERS
90-DAY TREASURY BILLS
GVPDQT, Page 7
RUN
RUN
GVPD(~T
ITEM (A-GI '1' FOR INFORMATION)??
A) PI~ICE: STOCK PRICE/SHAREI INDEX LEVELl FUND NAV/SHARE
B) PRICE RETURN: PERCENTAGE CHANGE IN CA) PER QUARTER
C) D:lVIDEND
D) D:lVIDEND YIELD; QUARTERLY DIVIDEND/PRICE AT END OF PREVIOUS QUARTER
E) RI::TURN: CB) + (C)
F) CUMULATIVE VALUE WITH DIVIDENDS REINVESTED
G) CUMULATIVE VALUE WITH DIVIDENDS IGNORED
ITEM CA-GI '?' FOR INFORMATION)?A
FUND., I NDEXI STOCK OR PORTFOLIO? INDEX
NUMBI::R? 1
DO YOU WANT TO PLOT ANYTHING ELSE?YES
ITEM (1-31 '1' FOR INFORMATION)??
1) THE SAME TYPE OF DATA FOR ANOTHER STOCKI INDEX 1 FUND OR PORTFOLIO
2) A STRAIGHT-LINE TREND FIT TO THE DATA BY LEAST-SQUARES REGRESSION
3) A MOVING AVERAGE OF THE DATA
ITEM (1-31 '1' FOR INFORMATION)?3
NUMBlER OF QUARTERS FOR MOV I NG AVERAGE? 4
REGULAR SCALE OR LOGARITHMIC?REGULAR
PRIClE
*: 501tJ STOCKS
+: MIOVING AVERAGE
B: BIOTH * AND +
MINIIMUM VALUE
MAXIMUM VALUE
*
1963/1
1963/2
1963/3
1963/4
1964/1
1964/2
1964/3
1964/4
1965/1
1965/2
1965/3
1965/4
1966/1
1966/2
1966/3
1966/4
1967/1
1967/2
1967/3
1967/4
1968/1
1968/2
1968/3
1968/4
1969/1
1969/2
1969/3
1969/4
1971tJ/1
1971tJ/2
1971tJ/3
1971tJ/4
1971/1
1971/2
1971/3
1971/4
1972/1
1972/2
1972/3
1972/4
1973/1
1973/2
1973/3
1973/4
=
63.1tJ9
I1tJ3.85
+
N/A
63.1tJ91tJ
N/A
66.561tJ
N/A
69.361tJ
71 .690 67.675
75.010 71tJ.655
78.970 73.758
81 .681tJ 76.838
84.171tJ 79.958
84.750 82.393
86.150 84.187
84.110 84.795
89.950 86.249
92.421tJ 88.158
89.221tJ 88.925
84.731tJ 89.080
76.550 85.739
81tJ.321tJ 82.705
90.191tJ 82.948
90.631tJ 84.423
96.700 89.469
96.460 93.495
90.190 93.495
99.571tJ 95.739
I1tJ2.661tJ 97.229
I1tJ3.851tJ 99.1tJ68
IItJ 1 .51tJ1tJ 191.895
97.71tJ1tJ IItJI.428
93.111tJ 99.941tJ
92.1tJ51tJ 96.999
89.621tJ 93.129
72.711tJ 86.873
84.21tJ9 84.645
92.149 84.668
199.319 87.349
99.799 94.988
98.349 97.623
192.999 199.119
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
*
,
+'...
\.
+"l~
d
....+
, ,+""
",+
--*--+'
BUSINESS AND MANUFACTURING APPLICATIONS (700)
co N T R I BU TE D
P ROG R AM
BASIC
IATAtJ
36164
TITLE:
CALCULATE AIRFREIGHT RATES
DESCRIPTION:
IATA.l calculates the weight breakpoints for a given commodity between
any two airports based on: the minimum air waybill charge) the normal
rate (under 100 pound rate), and the rates for each weight class within
the commodity being rated. The resulting table is generated on the
terminal based on data inputted from the keyboard or from the file
AIRRAT. The program also provides for file maintenance (additions or
deletions).
INSTRUCTIONS:
~~
c..a..;;,t..C::
two files: AIRRAT and RATAIR. Each record of the file holds
approximately 3.5 sets of data. Therefore, if you open the files for
20 records, you should have room for 70 sets of rate data.
Limit your inputs as follows: Airport codes=3 letters, specific
commodity=5 characters, commodity description=34 characters, date=6
characters (use format DDMMMY). This program consists of 3 sections:
l=data entry from keyboard, 2=data entry from file AIRRAT, 3=additions
and/or deletions to file AIRRAT, and 4=terminate program.
Preparing a worksheet with all of the data required (as shown) to use the
program beforehand would be advantageous to the user. The option of
printing multiple copies may be equal to or less than other means of
duplication.
The program is written so that new additions to the file are added after
the last existing record on the file, therefore, if you add new rates
first and then delete the existing old rates, the program will only
delete the first set of data (based on the deletion parameters) encountered
which should be the old rate data.
If the user attempts to use data which is not on the file, the program
will advise that the record is not on file.
ACKNOWLED'GEMENTS:
Jeff Johnson
Hewlett-Packard/Eastern Sales Region
lATA.1,
page
2
RUN
r~~
~EN-AIRRAT.10
eM" OPeff-RATAIR.10
RUN
IATA.l
INSTRUCTIONS?YES
IATA.R CALCULATES BREAKPOINT WEIGHTS BASED ON DATA
SUPPLIED BY THE USERCEITHER FROM THE KEYBOARD OR FILE
AIRRAT) AND THEN PRINTS A TABLE SUITABLE FOR USE IN RATING.
PREPARING AND CHECKING AIR WAYBILLS. LIMIT YOUR INPUTS AS
FOLLOWS:AIRPORT CODES=3 LETTERS.SPECIFIC COMMODITY=5
CHARACTERS. COMMODITY DESCRIPTION=34 CHARACTERS.DATE=6
CHARACTERSCUSE FORMAT DDMMMY). TH1S PROGRAM CONSISTS OF 3
SECTIONSll=DATA ENTRY FROM KEYBOARD.2=DATA ENTRY FROM FILE
AIRRAT.3=ADDITIONS AND/OR DELETIONS TO FILE AIRRAT.AND 4=
TERMINATE PROGRAM. ENTER THE APPROPRIATE RESPONSE BELOW.
SECTION Cl.2.3.0R 4)?1
, OF RATE CLASSES IN THIS COMMODITY =?4
ORIGIN AIRPORT?JFK
DESTINATION AIRPORT?VIE
SPECIFIC COMMODITY?4316
COMMODITY DESCRIPTION?DATA PROCESSING SYSTEM
EFFECTIVE DATE OF RATES?IAUG0
MINIMUM AIR WAYBIL CHARGE IN $?22.00
NORMAL RATE IN $?1.51
ENTER DATA AS REQUIRED
RATE 1= $?54
WEIGHT 1=?100
RATE 2= $?40
WEIGHT 2=?440
RATE 3= $?31
WEIGHT 3=?1100
RATE 4= $?21
WEIGHT 4=?2200
HOW MANY COPIES?1
ORIGINATING AIRPORT •••••• JFK
DESTINATION AIRPORT •••••• VIE
SPECIFIC COMMODITY ••••••• 4316
COMMODITY DESCRIPTION •••• DATA PROCESSING SYSTEM
ACT GROSS WT
CHARGEABLE WT
---------AS
DECLARE
MINIMUM
RATE/LB
-------
CHARGES
------$
22.00
TO
14
15 TO
36 TO
35
100
ACTUAL
100
$1.5100
$0.5400
AS EXTENDED
$ 54.00
101 TO
326 TO
325
440
ACTUAL
440
$0.5400
$0.4000
AS EXTENDED
$ 116.00
441 TO 852
853 TO 1100
ACTUAL
1100
$0.4000
$0.3100
AS EXTENDED
$ 341.00
1101 TO 1916
1911 TO 2200
ACTUAL
2200
$0.3100
$0.2100
AS EXTENDED
$ 594.00
2201 TO
ACTUAL
$0.2100
AS EXTENDED
EFFECTIVE DATE OF RATES •• IAUG0
MORE?NO
SECTION Cl.2.3.0R 4)?3
ADD OR DELETE?ADD
ENTER NEW DATA
lATA.l,
N='i'2
A$::?JF'K
D$::?V I E
S$::?710W
C$::?LITERATURE
R$=:?IAUG0
M =:?22.00
o =:?1.51
Rl=$?37
W 1= ?100
R2=$?26
W 2:= ? 1100
DONE?YES
SECTION (1~2~3~OR
DONE
~)?~
page
3
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
TITLE:
DESCRIPTIION:
BASIC
CALCULATES BREAKPOINT OF lATA CONTAINERS
This program helps any potential user of lATA containers to evaluate
his own breakpoint weight and volume for his particular commodity.
The breakpoint weights and volume derived under the column headedRevised- indicate the point at which the shipper will gain no advantage
(except better security and lighter packaging) in utilizing a given
container, assuming it would cost the user nothing additional to handle,
load and unload the container. The program is designed as a simple
tool to readily show any shipper interested in using an lATA container
what his minimum weiqht and density of a given commodity must be before
he can even consider utilizing lATA containers. In the sample run shown,
he mus have a minimum of 3267 lbs. with a density of at least 7.78
lbs/ft of Specific Commodity 8550 (Electronic Measuring Instruments) to
justify using an lATA #3 container from JFK to GLA. This is the breakeven point (if no additional costs are involved) at which shipping as a
specific commodity or in a container are of equal cost.
3
INSTRUCTIONS:
Limit the following input as shown:
Origin Airport
Destination Airport
Container #
Specific Commodity
Reference:
SPECIAL
CONSIDERATIONS:
ACKNOWLIEDGEMENTS:
IATAtc
36241
3
3
3
5
Characters
Characters
Characters
Characters
Air Cargo Tariff-Worldwide, #47 dated 1 july 72
published by Swissair and Scandinavian Airlines System.
None
Jeff Johnson
International Commercial Services East
IATA:'C, Page 2
RUN
Rtfi
IAT~C
INSTRUCTIONS?NO
US OR HETIU C?US
ORIGIN AIRPORT?JFK
DESTINATION AIRpORT?GLA
CONTAINER 1?3
CONTAINER VOLUME-?429
~I~IMUM WEIGHT-?4409
MINIMUM CHARGE-S?1176
SPECIFIC COMMODITY?8559
SPECIFIC COMMODITY RATE?36
ANALYSI S OF BREAKEVEN POINT
FOR UTI~IZING CONTAINERS VERSUS
SPECI~IC COHMOQITY RATES
FROM J FK TO GLA
FOR lATA CONTAINER 13
STANDARD
VOLUME( CU... FT. )
.-
MI~IMUM
CHARGE
~I~IMUM
WGTCLBS)
S!LB RATE
LBS/CU.FT.
.- --
REVISED
420
420
S1176.08
S1176.98
4489
3267
.-
S.27
S.36
(8558 >
7.78
19.59
MORE?YES
US OR METRIC?METRIC
ORIGIN AIRPORT?JFK
DESTINATION AIRPORT?GLA
C(IITAINER 1?7
CONTAINER VOLUME~?5.69
MINIMUM VEIGHT-?945~I~IMUM CHARGE=S?558
SPECIFIC COMMODITY?8559
SPECIFIC COMMODITY RATE?89
ANALYSIS OF BREAKEVEN POINT
FOR UTI~ItING CONTAINERS VERSUS
SPECIFIC COMMODITY RATES
FROM JFK TO GLA
FOR lATA CONTAINER 17
STANDARD
VOLUME(CU... M>
MINIMUM CHARGE
~INIMUM
WGT[KGS]
S/KG RATE
KGS/CU. M
MORE?NO
DONE
REVISED
5.68
S 558.99
5.68
..
$ 558.99
.-
945
S.59
169
697
$.89
.-
125
(8559 >
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
IATATA
36876
TITL.E:
IATATA ANALYSIS OF lATA AND ATA UNITIZATION PROGRAM
DESCRIPTION:
IATATA is used in the analysis of the lATA and ATA Unitization (Container)
Program. IATATA is structured so that a minimum amount of knowledge is
required of the lATA and ATA Unitization Programs as established by the
two airline groups. IATATA at the time of its completion (December 1973)
is current in all lATA and ATA rules and regulations, with respect to
each unitization program. It includes all container types in both
programs.
INSTRUCTIONS:
Open two files IATAID (4 records long) and CONTNR (4 records long).
Then load and run program LOADR. This program initializes the two files
and after it is run it need not be saved. Next load and save IATATA.
lATA containers, lATA ID numbers 1 to 9 have several variations as
follows:
P = fallet with net only.
NSI = ~on-itructural 19100.
SI
=
itructural 19100.
Therefore, to access the proper version of each container, indicate the
full number such as 3NSI. The author designated lATA 8* so the difference
could be shown between LD-l and LD-3.
The following sample problems reflect some lATA and ATA container shipments. The shipper owned container comparisons do not reflect in the
non-lATA or ATA shipments the cost of the equivalent cardboard container.
Some lATA problems supplied courtesy of Mike Baumann, Manager Cargo
Services Training, Pan American World Airlines and some ATA problems
courtesy of Les Milligan, Area Manager Cargo Sales, Trans World Airlines.
SAMPLE PROBLEMS
It has been suggested that shipper owned containers may carry little
or no cost value because of the fact they have been used many times.
The author assumed in all cases the shipment was one direction only
and the full cost of the container is included in the analysis.
Continued on Next Page.
SPECIAL
CONSIDERATIONS:
REFERENCES
lATA Unitization Program -- a pamphlet issued 15 November 1972 by International Air Transport Association courtesy of Pan American World Airlines.
lATA Unit Load Devices Manual, First Edition -- issued by authority of
Traffic Director, International Air Transport Assn. Geneva, Switzerland.
Cargo Air Tariff -- pub1ished by Air Canada, et. al., Amsterdam, The
Netherlands.
Airline Cargo Tariff -- published by Scandinavian Airline System and
Swissair.
CAB Tariff 131 -- issued by Airline Tariff Publishers Inc., Agent,
Washington, D.C. on behalf of the U.S. Airlines.
ACI(NOWlEDGEMENTS:
Jeff Johnson
HP International Commercial Services East
lATATA, Page 2
INSTRUCTIONS:
~~TlQle
1.
Continued
lATA Problems
You have 904 pounds of electronic measuring instruments (parts), Specific Commodity Rate 8550 JFK
to STR which moves at $ .41/pound (in a 2200 pound consolidation). You wish to use a OSC-225 lATA
registered container with actual tare of 96 pounds costing $16.44 each. Evaluate.
See Sample RUN -- lATA Problem #1.
2.
You have 1105 pounds of literature (Specific Commodity 7103W) and 572 pounds of electronic measuring
instruments (8550) which will fit in an lATA 8 (LO-l) between JFK and AMS. The rate for literature
is $ .31/pound and instruments is $ .48. The container rate is $501.00 for 1676 pounds pivot with a
rate of $ .26/pound over pivot. Actual tare weight of container is 285 pounds. Evaluate.
See Sample RUN -- lATA Problem #2.
3.
You have 5926 pounds of machinery moving LAX to BKK which will fit in an lATA 5 container. The
specific commodity rate per pound is $1.13 whereas the container rate is $3438.00 for the first
3638 pounds and an over pivot rate of $ .88/pound. The actual tare weight of the container is
550 pounds. Evaluate.
See Sample RUN -- lATA Problem #3.
4.
You have 300 pounds of electronic parts (Specific Commodity 8550) which fit in a OSC-221 (COS) moving
in a consolidation between SFO and SIN at $ .98/pound. The actual tare is 18 pounds. Cost of the
container is $5.44. Evaluate.
See Sample RUN -- lATA Problem #4.
5.
You have 660 pounds of electronic parts (Specific Commodity 8550) and 440 pounds of General Cargo
(Q) which fit in a C08 shipper owned container moving in a consolidation between SFO and SIN at
$ .98/pound and $1.55/pound respectively. The actual tare of the container is 93 pounds and costs
$16.66. Evaluate.
See Sample RUN -- lATA Problem #5.
Sample ATA Problems
1.
You are shipping between SFO and JFK 100 pounds of printed matter (4915) at .234/pound and 22
pounds of general cargo at $ .52/pound which will fit in an E container costing $5.44 with an
actual tare of 18 pounds. The general cargo rate is .2775.
See Sample RUN
2.
ATA Problem #1.
Same shipment as in Problem #1 except the following changes:
100 pounds of 4915 at .234/pound.
82 pounds of General Cargo at . 2854/pound.
See Sample RUN -- ATA Problem #2.
3.
The following QO container shipments are SFO to JFK with an actual tare of 13 pounds and the
container costs $4.00 containing the weights shown of cast aluminum wheels (7616).
a.
Net Weight:
Rate/Pound:
General Cargo Rate:
92
.2853
.2775
b.
Net Weight:
Rate/Pound:
General Cargo Rate:
187
.2775
.2775
See Sample RUN -- ATA Problem #3.
4.
Using a B container SFO to JFK costing $50.00 with actual tare of 200 pounds containing 2000 pounds
of printed matter (4915) at .2035 and 2000 pounds of cast aluminum wheels (7616) at .177.
See Sample RUN -- ATA Problem #4.
5.
An A-3 container SFO to JFK containing 10,000 pounds of cast aluminum wheels (7616) at .1635 for
which the first 3200 pounds in the container costs $608.00 and the excess above is rated at .137/pound.
See Sample RUN -- ATA Problem #5.
IATATA, Page 3
INSTRUCTIONS:
6.
Continued
An A-3 container SFO to JFK contains: 5,000 pounds 7616 at .1635/pound, 5,000 pounds of 0001 at
.208/pound, and 2,000 pounds of general cargo at .223.
See Sample RUN -- ATA Problem #6.
7.
You have 4,000 pounds of floral stock (0625) at .117/pound and 3,500 pounds of grapes (0816)
at .1355/pound loaded in an LD-7 moving SFO to JFK for which the base rate is $595.00 for the
first 3100 pounds and the over pivot rate is .137. The actual tare of the container is 550
pounds.
See Sample RUN -- ATA Problem #7.
RUN
GET-IATATA
RUN
IATATA
WOULD YOU LIKE A CONTAINER SUMMARY?YES
SUMMARY OF UNIT LOAD DEVICES
lATA
lATA
ID
MIN
CIHARG
WGT
TARE
ATA(US>
EXT
VOLUME
MAX
GROSS
WGT
ATA
ID
MIN
CHRG
WGT
TARE
MAX
GROSS
WGT
-----------------------------------------------------------------------1
2
2A
28
3P
3NSI
3S1
4P
4NSI
4ANSI
5P
5NSI
5S1
6P
7*P
7P
7NSI
13200
6297
0
0
0
0
0
0
0
0
0
0
0
0
8
8
8*
9P
9NSI
COl
CO2
C03
C04
COS
C06
C07
C08
C09
C00
COJ
COS
VAR.
VAR.
VAR.
NONE
NONE
NONE
NONE
NONE
-------- .•
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1000
0
0
265
550
550
230
500
500
265
550
550
0
265
338
0
0
280
280
280
280
280
565
480
293
277
241
225
142
93
45
30
96
18
0
0
0
0
0
0
0
0
0
0
0
841
551
396
267
565
160
0
0
0
0
1280.0
668.0
564.0
463.0
465.0
465.0
465.0
365.0
365.0
340.0
375.0
360.0
350.0
265.0
198.0
198.0
217.0
170.0
162.4
160.0
160.0
167.0
377.0
320.0
195.0
184.0
160.0
150.0
94.5
61.9
44.4
30.0
63.4
18.0
393.0
457.5
476.0
98.9
12.0
277.8
340.0
256.6
25000
15000
0
0
13300
13300
13300
10000
10000
8000
8300
8300
8300
5680
5000
5250
5250
3500
3500
3500
2500
2500
10000
10000
6686
6686
4841
4841
4050
3303
2666
2666
3383
1691
0
0
0
0
0
0
0
0
NONE
NONE
NONE
NONE
A'S
A'S
A'S
A'S
A'S
A'S
LD-7
LD-7
LD-9
NONE
NONE
NONE
NONE
LD-l
LD-P
LD-3
NONE
NONE
A'S
A'S
8
8
8
B
LD-N
0
NONE
NONE
0
E
A-I
A-2
A-3
B-2
QD
LD- 5
LD-6
LD-ll
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1300
1100
1100
0
0
0
0
1800
1800
1800
1800
0
500
0
0
500
130
3000
3100
3200
900
100
2200
0
1800
0
0
0
0
0
0
0
0
0
0
0
550
685
0
0
0
0
370
350
340
0
0
0
0
200
200
200
200
100
63
0
0
63
18
0
0
0
100
13
630
0
0
0
0
0
0
0
0
0
0
0
0
10200
10200
10200
0
0
0
0
3500
3500
3500
0
0
0
0
5000
5000
5000
5000
2400
2000
0
0
2000
500
13000
13000
13000
2500
400
5000
7000
7000
-------------------~------------------------ -------------------
IATATA, Page 4
NOTE:0 IN MINIMUM CHARGEABLE WEIGHT COLUMN INDICATES PIVOT WEIGHT VARIES
BY TARII'I' CONI'ERENCECOR ORIGIN-DESTINAT·ION COMBINATIONS). ZEROES IN
VARIOUS OTHER I'IELDS MEANS DATA NOT AVAILABLE OR NOT APPLICABLE. COJ
AND COS CONTAINERS ARE I'URTHER BROKEN DOWN INTO lATA REGISTRATION
NUMBERS I'OR VARIATION Or THESE TWO CATEGORIES. II' YOU ARE GOING TO WORK
WITH THESE TYPES .. MAKE SURE YOU ENTER THE CORRECT REGISTRATION NUMBER
(I.E. DSC-221).
SAMPLE lATA PROBLEM No.
I AT A OR AT A? I AT A
CONTAINER OR REGISTRATION NUMBER?DSC-225
ACTUAL TARE WEIGHT Or CONTAINER?96
HOW MANY COMMODITIES?I
WGT 1= ?904
CONTAINER COST?16.44
RATE I=? 41
ORIGIN AIRPORT?JI'K
DESTINATION AIRPORT?STR
ANALYSIS Or SHIPPING IN SHIPPER OWNED lATA
CONTAINERS VS. NORMAL PACKAGING
I'ROM JI'K TO STR
USING DSC-225 CONTAINER
GROSS COST Or SHIPMENT Or 1000 LBS
PLUS CONTAINER COST
LESS CONTAINER REBATE
LESS TARE WEIGHT ALLOWANCE
NET COST Or SHIPMENT
410.00
16.44
- 16.20
-39.36
370.88
$
370.64
COST II' NET CONTENTS ARE SHIPPED LOOSE
COST II' SHIPPED IN NON-lATA CONTAINER
Or EQUAL TARE WEIGHT
SAMPLE lATA PROBLEM No. 2
MORE?YES
lATA OR ATA?IATA
CONTAINER OR REGISTRATION NUMBER?8
ELIGIBLE I'OR SHIPPER OWNED CONTAINER
MINIMUM CHARGEABLE NET WEIGHT?1616
ACTUAL TARE WEIGHT Or CONTAINER?285
HOW MANY COMMODITIES?2
WGT 1=?1105
WGT 2=?512
RATE 1=?31
RATE 2=? <48
ORIGIN AIRPORT?~I'K
DESTINATION AIRPORT?AMS
CONTAINER CHARGE?501
RATE/LB I'OR EXCESS ABOVE PIVOT?26
DI~COUNT?NO
ANALYSIS Or SHIPPING IN AIRLINE OWNED lATA
CONTAINER VS. SPECII'IC COMMODITY RATES
F'ROM JF'K TO AMS
USING 8
CONTAINER
MINIMUM CHARGEABLE WEIGHT Or
PLUS EXCESS OF'
TOTAL CONTAINER COST
1616 LBS
I LBS
COST IF' NET CONTENTS ARE SHIPPED LOOSE
SAVINGS OR LOSSC-)
$
501.00
0.26
501.26
$
$
611.11
115.85
$
IATATA, Page 5
SAMPLE lATA PROBLEM No. 3
MORE?YES
lATA OR ATA?IATA
CONTAINER OR REGI.STRATION NUMBER? 5NSI
ELIGIBLE fOR SHIPPER OWNED CONTAINER DISCOUNT?NO
MINIMUM CHARGEABLE NET WEIGHT?3638
ACTUAL TARE WEIGHT Of CONTAINER?550
HOW MANY COMMODITIES?1
WGT 1=?5926
RATE 1=?1.13
ORIGIN AIRPORT?LAX
DESTINATION AIRPORT?BKK
CONTAINER CHARGE?3438
RATE/LB fOR EXCESS ABOVE PIVOT?88
ANALYSIS Of SHIPPING IN AIRLINE OWNED lATA
CONTAINER VS. SPECIfIC COMMODITY RATES
fROM LAX TO BKK
USING 5NSI
CONTAINER
MINIMUM CHARGEABLE WEIGHT Of
PLUS EXCESS Of
TOTAL CONTAINER COST
3438.00
2013.44
$ 5451.44
3638 LBS
2288 LBS
$
COST If NET CONTENTS ARE SHIPPED LOOSE
SAVINGS OR LOSS(-)
$
$
6696.38
1244.94
SAMPLE lATA PROBLEM No. 4
MORE?Y
I AT A OR AT A? I
CONTAINER OR REGISTRATION NUMBER?DSC-221
ACTUAL. TARE WEIGHT Of CONTAINER? 18
HOW MANY COMMODITIES?1
WGT 1=?300
CONTAINER COST?5.44
RATE 1=? ,.98
ORIGIN AIRPORT?SFP~O
DESTINATION AIRPORT?SIN
ANALYSIS OF SHIPPING IN SHIPPER OWNED lATA
CONTAINERS VS. NORMAL PACKAGING
FROM Sf 0 TO SIN
USING DSC-221 CONTAINER
GROSS COST OF SHIPMENT OF 318 LBS
PLUS CONTAINER COST
LESS CONTAINER REBATE
LESS TARE WEIGHT ALLOWANCE
NET COST OF SHIPMENT
COST IF NET CONTENTS ARE SHIPPED LOOSE
COST IF SHIPPED IN NON-lATA CONTAINER
OF EQUAL TARE WEIGHT
$
311.64
5.44
-4.00
-17.64
295.44
311.64
IATATA, Page 6
SAMPLE lATA PROBLEM No. 5
MORE?Y
lATA OR ATA? I
CONTAINER OR REGISTRATION NUMBER?008
DATA NOT ON FILE.
I ATA OR AT A? I
CONTAINER OR REGISTRATION NUMBER?008
DATA NOT ON FILE.
I ATA OR ATA? I
CONTAINER OR REGISTRATION NUMBER?C08
ELIGIBLE FOR SHIPPER OWNED CONTAINER DISCOUNT?YES
ACTUAL TARE WEIGHT OF CONTAINER?93
HOW MANY COMMODITIES?2
WGT 1=?660
WGT 2=?440
CONTAINER COST?16.44
RATE
1=?98
RATE 2=?1.55
ORIGIN AIRPORT?SrO
DESTINATION AIRPORT?SIN
ANALYSIS Or SHIPPING IN SHIPPER OWNED lATA
CONTAINERS VS. NORMAL PACKAGING
FROM SrO TO SIN
USING C08
CONTAINER
GROSS COST OF SHIPMENT OF 1193 LBS
PLUS CONTAINER COST
LESS CONTAINER REBATE
LESS TARE WEIGHT ALLOWANCE
NET COST OF SHIPMENT
$1472.95
16.44
- 1 5.80
- 144. 15
1329.44
COST IF NET CONTENTS ARE SHIPPED LOOSE
COST IF SHIPPED IN NON-lATA CONTAINER
OF EQUAL TARE WEIGHT
1328.80
1419.94
SAMPLE ATA PROBLEM No.
MORE?Y
lATA OR ATA?ATA
CONTAINER NUMBER?E
ACTUAL TARE WEIGHT Or CONTAINER?18
HOW MANY COMMOOITIES?2
WGT
I=? 100
WGT 2=?22
CONTAINER COST?5.44
RATE 1=?234
RATE 2=? 52
ORIGIN AIRPORT?SrO
DESTINATION AIRPORT?JFK
GENERAL CARGO RATE?2775
ANALYSIS Or SHIPPING IN SHIPPER OWNED ATA
CONTAINERS VS. NORMAL PACKAGING
I'ROM SI'O TO JI'K
CONTAINER
USING E
GROSS COST 01' SHIPMENT 01'
PLUS CONTAINER COST
NET COST 01' SHIPMENT
130 LBS
COST II' NET CONTENTS ARE SHIPPED LOOSE
COST II' SHIPPED IN NON-ATA CONTAINER
Or EQUAL TARE WEIGHT
S
36.07
5.44
41.51
39.05
IATATA, Page 7
SAMPLE ATA PROBLEM No. 2
MORE?')'
lATA OR ATA?A
CONTAINER NUMBER?E
ACTUAL JARE WEIGHT OF CONTAINER?18
HOW MANY COMMODITIES?2
WGT 1 =? 100
WGT 2=?82
CONTAINER COST?5.44
RATE 1=?234
RATE 2=? .2854
ORIGIN AIRPORT?SFO
DESTINATION AIRPORT?JFK
GENERAL CARGO RATE?2775
ANALYSIS OF SHIPPING IN SHIPPER OWNED ATA
CONTAINERS VS. NORMAL PACKAGING
FROM SFO TO JFK
CONTAINER
USING E
GROSS COST OF SHIPMENT OF
PLUS CONTAINER COST
NET COST OF SHIPMENT
164 LBS
$
COST IF NET CONTENTS ARE SHIPPED LOOSE
COST IF SHIPPED IN NON-ATA CONTAINER
OF EQUAL TARE WEIGHT
45.51
5.44
50.95
51.01
SAMPLE ATA PROBLEM No. 3
MORE?)"
lATA OR ATA?ATA
CONTAINER NUMBER?OD
DATA NOT ON FILE.
lATA OR ATA?ATA
CONTAINER,NUMBER?QD
ACTUAL TARE WEIGHT OF CONTAINER?13
HOW MANY COMMODITIES?1
WGT 1=?92
CONTAINER COST?4
RATE 1=?2853
ORIGIN AIRPORT?SFO
DESTINATION AIRPORT?JFK
GENER~kL CARGO RATE? .2775
ANALYSIS OF SHIPPING IN SHIPPER OWNED ATA
CONTAINERS VS. NORMAL PACKAGING
FROM SFO TO JFK
USING QD
CONTAINER
GROSS COST OF SHIPMENT OF
PLUS CONTAINER COST
NET COST OF SHIPMENT
100 LBS
COST IF NET CONTENTS ARE SHIPPED LOOSE
COST IF SHIPPED IN NON-ATA CONTAINER
OF EQUAL TARE WEIGHT
$
27.75
4.00
31.75
26.25
29.96
lATATA, Page 8
MORE?Y
lATA OR ATA?A
CONTAINER NUMBER?QD
ACTUAL TARE WEIGHT OF CONTAINER?13
HOW MANY COMMODITIES?1
WGT
1=?187
CONTAINiR COST?4
RATE
1=?2775
ORIGIN AIRPORT?SFO
DESTINATION AIRPORT?JFK
GENERAL CARGO RATE?2775
ANALYSIS OF SHIPPING IN SHIPPER OWNED ATA
CONTAINERS VS. NORMAL PACKAGING
FROM SFO TO JFK
USING QD
CONTAINER
GROSS COST OF SHIPMENT OF
PLUS CONTAINER COST
NET COST OF SHIPMENT
169 LBS
46.90
4.00
50.90
$
51.89
COST IF NET CONTENTS ARE SHIPPED LOOSE'
COST IF SHIPPED IN NON-ATA CONTAINER
OF EQUAL TARE WEIGHT
55.50
SAMPLE ATA PROBLEM No. 4
MORE?Y
lATA OR ATA?A
CONTAINER NUMBER?B
ACTUAL TARE WEI GHT OF CONTAI NER?200
HOW MANY COMMODITIES?2
WGT
1=?2000
WGT 2=?2000
CONTAINER COST?50
USING THE MIXED SHIPMENT RULE (RULE 12IC.A.B.131)IYOU MAY INPUT RATES
EQUAL TO 4000 LBS FOR EACH COMMODITY IN THE CONTAINER.
RATE 1=?p.2035
RATE 2=?177
ORIGIN AIRPORT?SFO
DESTINATION AIRPORT?JFK
DAYLIGHT OR REGULAR?REGULAR
CONTAINER CHARGE?312
RATE/LB FOR EXCESS ABOVE PIVOT?131
ANALYSIS OF SHIPPING IN SHIPPER OWNED ATA
CONTAINER VS. SPECIFIC COMMODITY RATES
FROM SFO' TO JFK
USING B
CONTAINER
MINIMUM CHARGEABLE WEIGHT OF
PLUS EXCESS OF
PLUS CONTAINER COST
TOTAL CONTAINER COST
MIXED SHIPMENT RULE COST
SAVINGS OR LOSS(-)
1800 LBS
2200 LBS
$
312.00
301.40
50.00
663.40
$
$
181.00
111.60
$
IATATA, Page 9
SAMPLE ATA. PROBLEM No. 5
MOREn'
lATA OR ATA?A
CONTAINER NUMBER?A-3
ACTUAL TARE WEIGHT OF CONTAINER?550
HOW MANY COMMODITIES?1
WGT 1=?10000
RATE 1=?1635
ORIGIN AIRPORT?SFO
DESTINATION AIRPORT?JFK
DAYLIGHT OR REGULAR?REGULAR
CONTAINER CHARGE?608
RATE/LB FOR EXCESS ABOVE PIVOT?137
ANALYSIS OF SHIPPING IN AIRLINE OWNED ATA
CONTAINER VS. SPECIFIC COMMODITY RATES
FROM SFO TO JFK
USING A-3
CONTAINER
MINIMUM CHARGEABLE WEIGHT OF
PLUS EXCESS OF
TOTAL CONTAINER COST
3200 LBS
6800 LBS
$
$
COST IF NET CONTENTS ARE SHIPPED LOOSE
SAVINGS OR LOSS(-)
$
$
608.00
931.60
1539.60
1635.00
95.~0
SAMPLE ATPI PROBLEM NO. 6
MORE?Y
lATA OR ATA?A
CONTAINER NUMBER?A-3
ACTUAL, TARE WEI GHT OF CONTAINER?550
HOW MANY COMMODITIES?3
WGT 1=15000
WGT 2·=15000
WGT 3,= 12000
USING THE, MIXED SHIPMENT RULE (RULE 12#C.A.B.131)#YOU MAY INPUT RATES
EQUAL TO 12000 LBS FOR EACH COMMODITY IN THE CONTAINER.
RATE 1 = 1. 1635
RATE 2=1.208
RATE 3=?223
ORIGIN! AIRPORT?SFO
DESTINATION AIRPORT1JFK
DAYLIGHT OR REGULAR?REGULAR
CONTAINER CHARGE?608
RATE/LB FOR EXCESS ABOVE PIVOT?137
ANALYSIS OF SHIPPING IN AIRLINE OWNED ATA
CONTAINER VS. SPECIFIC COMMODITY RATES
FROM SI'O TO JFK
USING A-3
CONTAINER
MINIMUM CHARGEABLE WEIGHT OF
PLUS EXCESS Or
TOTAL CONTAINER COST
MIXED SHIPMENT RULE COST
SAVINGS OR LOSS(-)
3200 LBS
8800 LBS
608.00
1205.60
S 1813.60
$
$
$
2183.50
369.90
IATATA, Page 10
SAMPLE ATA PROBLEM NO. 7
MORE?Y
lATA OR ATA?A
CONTAINER NUMBER?LD-7
MINIMUM CHARGEABLE NET WEIGHT?3100
ACTUAL TARE WEIGHT O~ CONTAINER?550
HOW MANY COMMODITIES?2
WGT
1=?4000
WGT 2=?3 500
USING THE MIXED SHIPMENT RULE (RULE 12#C.A.B.131)#YOU MAY INPUT RATES
EQUAL TO 7500 LBS ~OR EACH COMMODITY IN THE CONTAINER.
RATE 1=?117
RATE 2=?1355
ORIGIN AIRPORT?SFO
DESTINATION AIRPORT?J~K
DAYLIGHT OR REGULAR?REGULAR
CONTAINER CHARGE?595
RATE/LB ~OR EXCESS ABOVE PIVOT?137
ANALYSIS O~ SHIPPING IN AIRLINE OWNED ATA
CONTAINER VS. SPECI~IC COMMODITY RATES
FROM S~O TO J~K
USING LD-7
CONTAINER
MINIMUM CHARGEABLE WEIGHT
PLUS EXCESS O~
TOTAL CONTAINER COST
MIXED SHIPMENT RULE COST
SAVINGS OR LOSSC-)
MORE?N
DONE
O~
3100 LBS
4400 LBS
$
595.00
602.80
1197.80
$
$
867.25
-330.55
$
'OOelL mur.ta..tio K Vctt~ 3/15
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CO N TR I BU TE D PROG R AM
BASIC
INZOUT
36088
TITLE:
INPUT/OUTPUT ANALYSIS ON ECONOMIC FLOWS
DESCRIPTION:
A hypothetical economy is divided into a certain numbe~ of industries,
and is analyzed as to the inter-industry flows of goods and services over
a period of time. The analysis is based upon the data for a past period,
and can be used to predict future flows under different conditions of
consumer demand.
INSTRUCTIONS:
In this example, the economy is divided into three industries. The number
of industries, and their respective names, can be altered by changing the
dim-statements and output routines. With the exception of these routines,
the program is general, and will accept data for any IMI number of
industries.
Data is read in the fo 11 owi ng order:
The flows from: Industry #1 to Industry #1
Industry #1 to Industry #2
Industry #1 to Industry #3, etc. to #M
Industry #1 to the Final Consumer
Industry #2 to Industry #1
Indus t ry #2 to Indus try #2
Industry #2 to Industry #3, etc. to #M
Industry #2 to the Final Consumer
Industry #3 to Industry #1, etc. to #M
Industry #3 to the Final Consumer
Industry #M to the Final Consumer
This is followed by a revised forecast of consumer demand from
Industry #1, Industry #2, Industry #3, ... ,Industry #M
In this example:
Industry #1 is Agriculture
Industry #2 is Industry
Industry #3 is Service
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
August 1976
INZOUT is restricted as written, to 3 industries. To increase this
number, change dimensions in lines 9200, 9205 and 9210. A,B, and X
must be M x M. T, V, and C must be M, and 0 must be 2M + 1. Also
change the output routine.
INZOUT, Page 2
RUN
9988
9981
9902
9983
9999
DATA
DATA
DATA
DATA
25 .. 12 .. 8 .. 75
15 .. 75 .. 65 .. 99
18 .. 51 .. 88 .. 34
82 .. 85 .. 40
END
RUN
INZOUT
*
INPUT/OUTPUT ANALYSIS
*
**********************************************************************
INITIAL INPUT/OUTPUT TABLE:
TO SECTOR
FROM SECTOR
CONSUMERS TOTAL
AGRICULTURE
INDUSTRY
SERVICES
AGRICULTURE
INDUSTRY
SERVICES
25
15
10
12
75
51
8
65
88
75
99
34
SECTOR INCOME
70
116
22
288
120
254
183
TOTAL
120
254
183
557
REVISED INPUT/OUTPUT TABLE NUMBER 1
TO SECTOR
FROM SECTOR
CONSUMERS TOTAL
AGRICULTURE
I'NDUSTRY
SERVICES
AGRICULTURE
INDUSTRY
SERVICES
26.7413
16.0448
10.6965
11.3027
70.642
48.0366
8.31437
67.5542
91.458
82
85
40
SECTOR INCOME
74.8757
109.26
22.8645
207
128.358
239.241
190.191
TOTAL
128.358
239.241
190.191
557.791
**********************************************************************
DONE
August 1976
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
INACNT
TITLE:
NATIONAL INCOME & PRODUCT ACCOUNTS
DESCRIPTIOr\l:
INACNT produces a simple set of income and product accounts, dependent
upon a number of input gross national product conditions.
INSTRUCTIONS:
In order to use INACNT, the user must know six statistics.
be requested by input statements.
They are:
36087
They will
A = the fraction of GNP saved by business
B = the fraction of GNP paid in tax by business
C = the fraction of personal income paid in personal taxes
D = the fraction of personal after-tax income spent on consumption
(above 4 values must be entered in decimal notation)
14 = dollars of GNP eventually invested
G3 = dollars for GNP spent by government
(above 2 values must be entered in exponential form. Ex.: $50 billion
5E + 10.)
ACKNOWLEDGEMENTS:
=
INACNT,
page
2
RUN
GET-$INACNT
RUN
INACNT
NATIONAL INCOME & PRODUCT ACCOUNTS
•
•
THIS PROGRAM PRODUCES A SIMPLE SET OF INCOME AND PRODUCT ACCOUNTS.
PLEASE ANSWER THE FOLLOWING QUESTIONS.
I. WHAT FRACTION OF GNP IS SAVED BY BUSINESS?II
2. WHAT FRACTION OF GNP IS PAID IN TAX BY BUSINESS?32
3. WHAT FRACTION OF PERSONAL INCOME IS PAID AS PERSONAL INCOME
TAX?3~21
WHAT FRACTION OF THE DISPOSABLE PERSONAL INCOME
PERSONAL INCOME ••••• ~.09139E+11
BUSINESS TAXES •••••• 2.25132E+II
BUSINESS SAVING ••••• 7.05~IIE+10
CONSUMPTION ••••••••• 3.00594E+II
INVESTMENT •••••••••• 1.~0000E+I.I
GOV'T. SPENDING ••••• 2.70000E+11
GROSS NAT. PRODUCT •• 7.05412E+11
GROSS NAT. PRODUCT •• 1.05412E+ll
PERSONAL SECTOR
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
INSTMT
36089
TITLE:
INCOME STATEMENT
DESCRIPTION:
INSTMT prints a simple income statement, and allows a sensitivity check
on various input.
INSTRUCTIONS:
Self-explanatory.
The following data must be entered before running INSTMT.
base year (1971) data entries:
9537 DATA amount of sales
9543 DATA cost of goods sold
9549 DATA cost of advertising
9555 DATA administrative expense
9561 DATA tax loss carry forward
All other DATA-statements remain undisturbed.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
None
These are all
INSTMT, Page 2
RUN
RUN
INSTMT
•
INCOME STATEMENT
•
THIS PROGRAM WILL PRINT A SIMPLE INCOME STATEMENT, AND WILL ALLOW A
SENSITIVITY ANALYSIS ON VARIOUS INPUT.
DO YOU WISH TO USE AVERAGE OR INDIVIDUAL GROWTH RATES? (ENTER 'AVG'
OR 'IND' )?AVG
PLEASE ENTER THE rOLLOWING VALUES IN PERCENT:
?10
PERCENT GROWTH IN SALES
PERCENT GROWTH IN COST Or GOODS SOLD?6
?5
PERCENT GROWTH IN ADVERTISING
PERCENT GROWTH IN ADMIN & GENERAL EX?8
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
INCOME STATEMENT
$ IN THOUSANDS
---------------YEARS
11
SALES
1000
-CG SOLD 500
150
- ADV
- ADM&GEN 100
250
=OPER INC
.TAX L.C.r.
50
89.5
- TAXES
-NET INCOME 160.5
12
1100
530
151.5
108
304.5
0
139.66
164.84
13
14
1210
561 .8
165.38
116.64
366.19
0
169.21
196.92
1331
595.51
113.64
125.91
435.88
0
202.12
233.16
15
1464.1
631.24
182.33
136.05
514.49
0
240.45
214.03
---------PLEASE ENTER ONE Or THE rOLLOWING rOUR VALUES: 1) 'GROW' TO HAVE
THE GROWTH PERCENTAGES LISTEDJ 2) 'PERCENT' TO HAVE THE PERCENTAGE
RELATIONSHIPS Or THE ITEMS TO SALES LISTEDJ 3) 'YES' TO BE GIVEN
THE OPTION TO CHANGE THE ORIGINAL INPUT PERCENTAGES AND RETRYJ OR
4) 'NO' TO TERMINATE?PERCENT
----------PERCENT Or SALES
YEARS
11
SALES
100
50
-CG SOLD
15
- ADV
- ADM&GEN 10
=OPER INC
25
- TAXES
8.95
=NET INCOME 16.05
12
13
14
15
100
48.18
14.32
9.82
27.68
12.7
14.99
100
46.43
13.67
9.64
30.26
13.99
16.27
100
44.74
13.05
9.46
32.15
15.23
17.52
100
43.11
12.45
9.29
35.14
16.42
18.72
---- - ---- -PLEASE ENTER ONE Or THE rOLLOWING rOUR VALUES: 1) 'GROW' TO HAVE
THE GROWTH PERCENTAGES LISTEDJ 2) 'PERCENT' TO HAVE THE PERCENTAGE
RELATIONSHIPS Or THE ITEMS TO SALES LISTEDJ 3) 'YES' TO BE GIVEN
THE OPTION TO CHANGE THE ORIGINAL INPUT PERCENTAGES AND RETRYJ OR
4) 'NO' TO TERMINATE?YES
PLEASE ENTER THE rOLLOWING rOUR PARAMETERS A LINE AT A TIME.
I)THE rACTOR YOU WISH TO ALTER: 'SAL' rOR SALES,'ADV' rOR ADVERTISING, 'CGS', OR 'ADM'.
2)ON THE NEXT LINE, THE YEAR YOU WANT THE NEW PERCENTAGE
TO OCCUR: 72,73,14,75.
• •• NOTE: THE INITIAL PERCENTAGE
WILL APPLY TO ALL OTHER YEARS UNLESS SPECIrICALLY CHANGED
3)THE NEW PERCENTAGE.
4)ON THE rOURTH LINE, 'YES' OR 'NO', INDICATING WHETHER YOU
WISH TO CHANGE ANY OTHER rACTOR NOW.
INSTMT, Page 3
?CGS
?1J4
?8
?NO
**********************************************************************
INCOME STATEMENT
$ IN THOUSANDS
---------------YEARS
71
SALES
1000
-CG SOLD 500
150
- ADV
- ADM&GEN 100
=OPER INC
250
*TAX L.C.F'. 50
89.5
- TAXES
=NET INCOME 160.5
72
73
1100
530
157.5
108
304.5
0
139.66
1210
561.8
165.38
164.8J4
7J4
1331
606.7J4
173.6J4
116.6J4
125.97
366.19
0
169.27
196.92
J42J4.64
0
197.33
227.31
75
lJ46J4.1
6J43.15
182.33
136.05
502.58
0
23J4.7J4
267.8J4
---------PLEASE ENTER ONE OF' THE F'OLLOWING F'OUR VALUES: 1) 'GROW' TO HAVE
THE GROWTH PERCENTAGES LISTEDJ 2) 'PERCENT' TO HAVE THE PERCENTAGE
RELATIONSHIPS OF' THE ITEMS TO SALES LISTEDJ 3) 'YES' TO BE GIVEN
THE OPTION TO CHANGE THE ORIGINAL INPUT PERCENTAGES AND RETRYJ OR
J4) 'NO' TO TERMINATE?NO
*********************************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CON T RIB UTE D PRO G RAM
BASIC
LEASIN
36194
TITLE:
LEASE INCOME
DESCRIPTION:
This program calculates annual lease income from (U) units at sales price
(S) leased at lease rate (R) for lease period (L). It also sums the total
income by year over (Y) years of lease operation.
INSTRUCTIONS:
Inputs are defined by program at RUN time.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
Lease period in years + number of years manufacturing product must be
< 50.
Else redimension arrays in #35.
Richard T. Barck
Varian Data Machines
LEASIN,
page
2
RUN
RUN
LEASIN
ON AN ANNUAL BASIS OF SHIPMENTS OVER 'Y' YEARS# THIS PROGRAM
WILL CALCULATE LEASE INCOME BASED ON A QARIABLE-LENGTH
PRODUCT LIFE (LEASE PERIOD>.
• •••• R. T. BARCK 5/17/71
LEASE PERIOD IN YEARS IS15
WE WILL MANUFACTURE PRODUCTS FOR Y YEARSJ Y -16
ANNUAL SHIPMENTS IN UNITS BY YEAR FOR YEARS 1 TO 6
ARE
1
117
2
122
3
125
"
15"25
5
122
6
114
ENTER AVG SALES PRICE IN S 00S FOR EACH YEAR SYSTEMS ARE
INSTALLED AND FOR ALL YEARS SYSTEMS REMAIN ON LEASE
YEAR
SALES PRICE
1
132
2
132
3
129
4
129
5
129
6
127.5
7
127.5
8
127
9
126.5
IS
126.5
11
126
ENTER AVG LEASE RATE IN I OF SALES PRICE PER MONTH (W/O SERVICE>
FOR EACH YEAR SYSTEMS ARE INSTALLED AND REMAIN ON LEASE
YEAR
LEASE RATE
1
12.6
2
12.6
3
12.6
4
12.55
5
12.55
6
12.55
7
12.5
8
12.5
9
12.5
10
12.5
11
12.5
ANNUAL INCOME FOR THIS PRODUCT WILL BE:
YEAR
INCOME
169.728
1
2
389.376
3
579.072
4
789.786
5
985.014
6
908.82
7
709.5
494.1
8
286.2
9
10
111.3
11
o
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
LENDER
TITLE:
SIMPLE LOAN ANALYSIS
DESCRIPTIOI'J:
LENDER calculates the monthly interest charges and outstanding
balance of a loan that must be paid off in one year or less.
INSTRUCTIONS:
Self-explanatory.
The following input values will be requested:
B = amount of loan
M= monthly payment
R = interest rate
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
Loan must be payable within one year.
36090
LENDER, page 2
RUN
GET-$LENDER
RUN
LENDER
*
SIMPLE LOAN ANALYSIS
*
THIS PROGRAM CALCULATES THE MONTHLY INTEREST CHARGES AND OUTSTANDING
BALANCE OF A LOAN THAT MUST BE PAID OFF IN ONE YEAR OR LESS.
WHAT IS THE AMOUNT OF THE LOAN? 1000
WHAT IS THE MONTHLY PAYMENT?90
WHAT IS THE INTEREST RATE?7.5
**********************************************************************
MTH.
1
2
3
4
5
6
7
8
9
10
11
12
PAYMT
INT.
6.25
5.73
5.2
4.67
4. 14
3.6
3.06
2.52
1.97
1.42
.87
.31
APPLIED TO
LOAN
83.75
84.27
84.8
85.33
85.86
86.4
86.94
87.48
88.03
88.58
89. 13
49.43
BALANCE
DUE
-------
916.25
831.98
747. 18
661.85
575.99
489. 59
402.65
315017
227. 14
138.56
49.43
0.00
MONTHS TO PAYOFF LOAN: 12
TOTAL INTEREST CHARGES: 39.74
DO YOU HAVE ANOTHER
CASE?YES
WHAT IS THE AMOUNT OF THE LOAN? 1200fi'J
WHAT IS THE MONTHLY PAYMENT?1000
WHAT IS THE INTEREST RATE?8.5
LOAN CANNOT BE PAID OFF IN LESS THAN
INCREASE YOUR MONTHLY PAYMENT.
DO YOU HAVE ANOTHER
1 YEAR.
CASE?NO
**********************************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
TITLE:
DESCRIPTION:
INSTRUCTIONS:
BASIC
LEASE ANALYSIS AS DETERMINED BY THE LESSEE
LESSEE compares the advantages of leasing vs. purchasing equipment.
Investment tax credit is considered and a sensitivity check is available,
as is a cashf10w diagram.
Values are
l. P
2. T
3. Rl
4. R2 =
5.
6.
7.
8.
9.
10.
1l.
12.
13.
14.
15.
16.
M
L
Sl
S2
E1
E2
Y
J
Z
X
Xl
X2
required for the following variables, beginning in line 9900:
The purchase price of the equipment
The 1essee ' s income tax rate
The interest rate on a loan, compounded semi-annually
The opportunity rate that can be earned, after taxes, on
new investments, compounded semi-annually
= The monthly rent, payable in advance
= The depreciable life in years
The salvage value for tax purposes
Expected actual salvage value, must be less than P
= Expenses of making the lease arrangement
Annual saving in expenses due to the lease
The length of the lease in years
The length of the basic rental period
o if no investment tax credit is taken, otherwise 1
The number of the variable for which a sensitivity analysis
is to be done; ~ if no analysis; 1 if on purchase price;
2 if on income tax rate, etc.
= The lowest value for the variable specified in 14
= The highest value of the variable specified in 14
Do not remove the string data in lines 9990-9994.
SPECIAL
CONSIDERATIONS:
ACKNOWLEIDGEMENTS:
LESSEE
36091
This program uses the Bower-Williamson Method of Lease Analysis.
LESSEE, page 2
RUN
GET-$LESSEE
9900 DATA 20000,.5,.055,.15,500,10,1000,2000,500,4000,10,10,1
9901 DATA 3,. 12,. 045
RUN
LESSEE
*
LEASE/PURCHASE ANALYSIS
*
HAS YOUR DATA ALREADY BEEN ENTERED?YES
DO YOU WANT THE SENSITIVITY ANALYSIS ONLY?NO
***********************************************************************
*COMPARISON OF LEASE WITH PURCHASE*
PURCHASE PRICE $ 20000
TAX RATE .5
INTEREST RATE .055
OPPORTUNITY RATE .15
MONTHLY RENT S 500
DEPRECIABLE LIFE 10
YEARS
SALVAGE FOR TAX $ 1000
EXPECTED SALVAGE $ 2000
EXPENSE OF ARRANGING LEASE $ 500
ANNUAL EXPENSE SAVING DUE TO LEASE $ 4000
LEASE LENGTH 10
YEARS
BASIC RENTAL PERIOD 10
YEARS
SENSITIVITY ANALYSIS ON INTEREST RATE WITH A RANGE OF .12
.045
INVESTMENT TAX CREDIT TO BE TAKEN $ 1400.
TO
DO YOU WANT TO SEE THE FLOWS?YES
YEAR
PAYfo1ENT
1
2
3
4
5
6
7
B
9
10
TOTAL
6000
6000
6000
6000
6000
6000
6000
6000
6000
6000
60000.
DEPR
3455
3109
2764
2418
2073
1727
1382
1036
691
345
19000
LOAN
103B
951
860
764
663
555
442
323
196
63
5855
OP'G FLO
DIFF'CE
WITH
3500
4000
4000
4000
4000
4000
4000
4000
4000
2000
37500.
BASIC
CASH FLO
SAVING
WITH
1104
2970
318B
3409
3632
3859
408B
4321
4556
3296
34423.
BASIC
CASH FLOW
DISC. AT
1027
2391
2221
2055
1895
1742
1597
1460
1333
834
16555
---------FINANCIAL ADVANTAGE OF LEASE:
$-26411.8
OPERATING ADVANTAGE OF LEASE:
$
NET ADVANTAGE OF LEASE:
16552.4
$-9859.38
SENSITIVITY ANALYSIS ON INTEREST RATE
INTEREST RATE
NET ADVANTAGE OF LEASE
ol2
-1475.72
.1125
-2219.66
0105
-3014.65
.0975
- 38 63.75
.09
-4769.57
.0825
-5736.89
.075
-6767.32
.0675
-7866.06
.06
-9036.63
.0525
- 10284.3
.045
-11611.7
**********************************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
.CONTRIBUTED PROGRAM
BASIC
LOAN
TITLE:
LOAN AMORTIZATION
DESCRIPTION:
This program amortizes a loan on a monthly basis and prints out a monthly
and yearly report. The yearly report shows interest accumulated, payments
to the principal, total paid and remaining balance. When the balance falls
below the maximum allowable monthly payment (set by the user), the final
payment is computed.
INSTRUCTIONS:
Follow the instructions given by the program. After each monthly payment
is entered, the program prints out the amount of the monthly payment
attributed to interest, the cumulative interest, amount attributed to the
principal, cumulative principal payments, and principal balance due on the
loan. Computations continue until the end of the year when a yearly report
is printed out.
SPECIAL
CONSIDERA.TIONS:
None
ACKNOWLEDGEMENTS:
Henry H. Brus III
36226
LOAN, Page 2
RUN
RUN
LOAN
INPUT STARTING MONTH' (FEB=2>?6
MAXIMUM ALLOWABLE PAYMENT/MONTH1300
AFTER THE FIRST 1 INPUT PRINCIPAL AND INTEREST RATE
AFTER EACH SUCCEEDING 1 INPUT THE MONTHLY PAYMENT
INTEREST
15505
11.045
1150
20.6437
1250
2121.1587
125
19.2968
1121
19.2754
119
19.3477
13121121
19.349
14121121121
1-23
13121121
18.2965
YEAR
1
11121121
17.241211
143
16.9298
199.5
16.832
142
16.522
176
16.4265
154
16.212131
118
16.121613
121
16.121541
1121
16.121355
1300
16.121956
1299.9
15.121 31
1176
13.9627
YEAR
2
CUM INTEREST
PAY TO PRINC
CUM PRINC PAY
BALANCE
20.6437
129.356
129.356
5375.64
4121.812124
229.841
359.198
5145.8
6121.121992
5.7121324
364.91211
514121.1
79.3745
0
364.91211
5159.37
98.7222
0
364.91211
5159.72
118.12171
28121.651
645.552
4879.1217
136.368
281.71213
927.255
4597.37
TOT PAY MADE
112144
YEAR CUM INT
136.368
YEAR PRINC PAY BALANCE
927.255
4597.37
153.61218
82.7599
11211121.1212
4514.61
17121.538
26.12171212
112136.1219
4488.54
187.37
82.668
1118.75
441215.87
21213.892
25.478
1144.23
438121.39
22121.318
59.5735
121213.81
432121.82
236.521
37.7969
1241.6
4283.1212
252.583
1.93867
1243.54
4281.1218
268.637
4.94594
1248.49
4276.14
284.672
121
1248.49
4292.17
30121.768
283.91214
1532.39
41211218.27
315.799
284.869
1817.26
3723.4
329.762
162.12137
1979.3
3561.36
TOT PAY MADE
1229.4
YEAR CUM lNT
193.394
YEAR PRINC PAY BALANCE
1052.1214
3561.36
LOAN, Page 3
1139
13.3551
129
12.9177
1259
12.8574
1222
11.9681
110
11 .1805
152
11.1849
167
11.0318
198
10.822
13ee
le.495
13e0
9.4e94
1259
8.31969
1275
7.41339
YEAR
3
343.117
116.645
2995.94
3444.72
356.934
16.9823
2112.92
3428.63
368.892
237.143
2349.17
3191.49
380.86
219.932
2559.2
2981 .46
392.04
0
2559.2
2982.64
403.225
40.8151
2600.01
2941.83
414.257
55.9682
2655.98
2885.86
425.079
87.178
2743.16
2798.68
435.574
289.5e5
3e32.67
25e9.17
444.983
290.591
3323.26
2218.58
453.3e3
241 .68
3564.94
1976.9
460.716
267.587
3832.52
17e9.32
TOT PAY MADE
1983
1215
6.4e9914
1193.6
5.6271'2
13e0
4.922EI3
134
3.816::~9
12ee
3.7e31
1201.16
2.96699
196
2.223jr6
11ge
1 .8721,
YEAR CUM INT
13e.955
YEAR PRINC PAY BALANCE
1853.23
17e9.32
467.126
2e8.59
4e41.11
15ee.73
472.754
187.972
4229.08
1312.75
477.677
295.e77
4524.16
1017.68
481.493
3e.1837
4554.35
987.494
485.196
196.297
475e.64
791.197
488.163
198.193
4948.84
593.ee4
490.387
93.7762
5e42.61
499.227
492.259
98.1279
514e.74
4el.1
493.763
494.631
169.716
231.384
531e.46
5541.84
231.384
e
1171.2~!
1.5e41.2
.867689
YEAR
4
41
DONE
TOT PAY MADE
1743.23
PAYMENTS WERE MADE
YEAR CUM INT
33.9146
YEAR PRINC PAY BALANCE
17e9.32
e
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
TITLE:
SECURITIES PORTFOLIO USING MARKOWITZ MODEL
DESCRIPTION:
MARKOW computes the efficient securities portfolios according to
the full covariance matrix Markowitz model.
INSTRUCTIONS:
Input data should be entered beginning in line 9900, in the
fo 11 owi ng order:
1.
2.
3.
4.
5.
SPECIAL
CONSIDERATIONS:
the number of securities
the lending rate (decimal notation)
the borrowing rate (decimal notation)
the expected returns for each security
the full covariance matrix
(this should be listed row by row.
Note that it is a
square matrix nxn, where n = # of securities).
If a storage problem should result, delete lines 9000-9030 and run.
MARKOW is restricted to 15 securities.
To increase this number,
change the DIM-statement 9050, and the equivalent values in lines
9051-9054:
G9 >2N + 2
E9 >N + 2
A9, R9, H9 >N
ACKNOWLEDGEMENTS:
MARKOW
·36092
Francois Carlhian
Babson College
MARKOW, page 2
RUN
GET-$MARKOW
LIS-9900
MARKOW
9900
9901
9910
9920
9930
9950
9951
9952
9953
9954
9955
99S6
9957
9958
9959
9960
9961
9962
99h3
9964
9965
9966
9967
9968
9969
9970
9999
DATA 9
DATA .045 •• 065
DATA 2.R4022F-02 •• 110011.4.77284f-03.6.33756E-02.6.14846E-02.3.05807F-02
DATA -7.12097E-~3.-5.32422E-03 •• 260657
RFM FXAMPLf COVARIANCE MATRIX FOLLOWS:
DATA 2.88445F-02.9.04~35E-03.1.31019E-02,1.70099E-02
nATA 1.57015E-02.1.85585[-02.2.78296F-02.3.10865~-02
DATA 1.14316f-02.9.04635E-03.6.75625F-03.4.64437E-04
DATA 1.37025f-02.8.90057E-03.5.1941E-03.4.64437E-04
DATA 9.64282E-03.4.30107E-04.2.~5413f-03 •• 010148
DATA 1.55908E-02.9.31176E-03.4.03761[-03.1.70099E-02
nATA 1.37025[-02.4.30107E-04.2.86772[-02.1.55314[-02
DATA 1.14319[-02.1.28415E-02.2.95581f-02.-4.5765E-03
nATA 1.57015[-02.8.90057E-03.2.05413[-03.1.55314[-02
DATA 1.88851E-02.4.27909E-03.9.07786E-03.2.20021E-02
nATA 1.85585f-02 •• 099266.5.1941E-03 •• 010148
DATA 1.14319[-02.4.27909E-03.1.63099[-02 •• 021356
DATA 1.93458[-02.-5.6284E-01.2.78296F-02.6.43849[-03
DATA 1.55908E-02.1.28415[-02.9.07786[-03,.021356
DATA 3.04166[-02.2.70716[-02.2.8313E-03.3.10865E-02
DATA 1.49714[-02.9.31176[-03.2.95581[-02.2.20021E-02
DATA .~93458.2.70716f-02.4.~4682f-02.8.28133E-03
DATA 1.14316F-02.9.78117[-04.4.03761f-03.-4.5765[-03
nATA 1.99266E-02.-5.68284[-03.2.8313[-03.8.28133(-03
nATA 6.43849E-0).1.49714E-02,9.78117f-04.1.31019E-02
nATA 4.86656[-02
END
RUN
MARKOW
*
SECURITIES
PORT~OLIOS
AS INPUT WE HAVE: 9
4.5
6.5
*
USING MARKOW CHAINS
SECURITIES
PERCENT AS THE LENDING RATE
PERCENT AS THE BORROWING RATE
************************************************************************
PORT~OLIO
NUMBER
EXP RETURN: .260657
STD DEV: .217214
ASS INT: .113302
SLOPE O~ THE E-V CURVE IS: .640382
STOCK NO
9
PERCENT
100
R
H
o
PORT~OLIO
NUMBER 2
EXP RETURN: .13959
STD DEV: 7.41758E-02
ASS INTI
SLOPE O~ THE E-V CURVE 15:-6.98121E-03
STOCK NO
2
9
PERCENT
80.3653
19.6347
R
1.71583
H
.794987
.205013
-1.24143
1.24143
*******************************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
MCOST
36709
TITLE:
COMPARE AND EVALUATE UP TO 1000 MORTGAGE PAYMENT
PLANS SIMULTANEOUSLY
DESCRIPTION:
Permits the user to easily compare and evaluate up to 1000 mortgage payment
plans simultaneously.
The program computes monthly mortgage payments for various principal amounts,
at different interest rates, over varying periods. Sample input:
Enter the amounts? 22000,24000
Enter the rates (percent)? 7.5
Enter the years? 20.25
From the above input. 4 mortgage payment plans will be calculated and
printed with supplementary comparison information.
INSTRUCTIONS:
RUN 9100 for instructions.
ACKNOWLEDGEMENTS:
Babson College
Babson Park. Massachusetts
MCOST. Page 2
RUN
'SMCOST' PERMITS THE USER TO EASILY COMPARE AND EVALUATE
UP TO 1000 MORTGAGE PAYMENT PLANS SIMULTANEOUSLY.
THE PROGRAM COMPUTES MONTHLY MORTGAGE PAYMENTS FOR
VARIOUS PRINCIPAL AMOUNTS. AT DIFFERENT INTEREST RATESS
OVER VARYING PERIODS.
ENTER THE AMOUNTS? 22000.2~000
ENTER THE RATES (PERCENT)? 1.5
ENTER THE YEARS? 20.25
FROM THE ABOVE INPUT.~ MORTGAGE PAYMENT PLANS WILL BE
CALCULATED AND PRINTED WITH SUPPLEMENTARY COMPARISON
INFORMATION.
ENTER THE AMOUNTS?22000.24000
ENTER THE RATES(PERCENT)11.5
ENTER THE YEARS?20.25
INTEREST
RATE
AMOUNT
1.5
1.5
AMOUNT::
1.5
1.5
DONE
NUMBER
OF
YEARS
DECREASE
MONTHLY
PAYMENT
INCREASE
TOTAL
INTEREST
20535.6
26113.1
1 ~.65
6238.01
5
29201.1
15.98
6805.16
MONTHLY
PAYMENT
TOTAL
INTEREST
111.23
162.58
193.3~
22~02.
22000
20
25
2~000
20
25
111.36
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
MKBUY
36093
TITLE:
MAKE-BUY DECISION ANALYSIS
DESCRIPTION:
MKBUY calculates the present value of the cost saving incurred by making
a product as opposed to buying it.
It also prints a cash flow summary
for each method for each year involved.
INSTRUCTIONS:
The following values are required as input:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
SPECIAL
CONSIDERAT~ONS:
ACKNOWLEDGEMENTS:
the cost to buy one item FOB
the cost to manufacture one item including direct materials
and labor but not overhead
the initial investment
the life of the investment
the salvage value of the investment
the annual fixed costs of the investment (supervision
and maintenance)
corporate tax rate in percent
local tax rate on extra investment
cost of capital
estimate of yearly demand for the item under consideration.
Life of the investment must be less than 25 years.
MKBUY,
page
2
RUN
GET-$MKBUY
RUN
MKBUY
*
MAKE-BUY ANALYSIS
*
THIS PROGRAM CALCULATES THE PRESENT VALUE OF" THE COST
SAVING INCURRED BY MAKING A PRODUCT AS OPPOSED TO BUYING IT.
F"IRST WE WOULD LIKE TO ASK YOU A F"EW QUESTIONS •••
WHAT IS THE NAME OF" YOUR COMPANY?HEWLETT-PACKARD CO.
WHAT IS THE NAME OF" THE COMPONENT YOU ARE CONSIDERING
M4KING OR BUYING?2 PENCIL
*** ENTER ALL COSTS IN DOLLARS ***
1. WHAT IS THE COST TO BUY A .2 PENCIL F08 YOUR
PLANT?05
2. WHAT IS THE COST TO MANUFACTURE A .2 PENCIL IN YOUR PLANT
INCLUDING DIRECT MATERIALS AND LABOR BUT NOT OVERHEAD?04
3. WHAT IS THE INITIAL INVESTMENT (COST OF THE EXTRA MACHINERY
THAT WOULD BE NEEDED TO MANUFACTURE .2 PENCILS)?L~10000
4. WHAT IS THE LIFE OF THE INVESTMENT IN YEARS?5
5. WHAT IS THE SALVAGE VALUE OF THIS INVESTMENT?0
(NOTE: SUM-OF-THE-YEARS-DIGITS METHOD WILL BE USED TO DEPRECIATE
THE INVESTMENT.
6. WHAT ARE THE ANNUAL FIXED COSTS (SUCH AS SUPERVISION AND
MAINTENANCE)INVOLVED IN YOUR MAKING .2 PENCILS?2500
7. WHAT IS YOUR CORPORATE TAX RATE IN PERCENT??25
8. WHAT IS THE LOCAL TAX RATE ON THE EXTRA INVESTMENT IN DOLLARS
PER THOUSAND?55
9. WHAT IS YOUR COST OF CAPITAL IN PERCENT??12
10. WHAT IS YOUR ESTIMATE OF THE YEARLY DEMAND FOR .2 PENCILS
?10000
**********************************************************
THE PRESENT VALUE OF THE COST TO MAKE IS
THE PRESENT VALUE OF THE COST TO BUY IS
15208.2
1206.96
HEWLETT-PACKARD CO. SHOULD BUY .2 PENCILS AT A SAVINGS OF
DOLLARS.
14001.2
**** THE F"LOWS ****
YEAR
1
2
3
4
5
6
IF BUY**********
EXPENSE
CASH FLOW
0
0
375
500
375
500
500
375
375
500
375
500
IF MAKE*********
EXPENSE
CASH FLOW
0
9533.33
6600
1616.67
5786.67
1673.33
1757.5
5010
4270
1869.17
3566.67
2008.33
***NET***
CASH FLOW
-9533.33
-1241.67
-1298.33
-1382.5
-1494.17
-1633.33
MKBUY, page 3
WOULD YOU LIKE TO SEE THE ErrECT Or CHANGING A VARIABLE?
(YES OR NO)?YES
WHAT IS THE NUMBER Or THE QUESTION TO WHICH YOU WOULD LIKE
TO CHANGE YOUR ANSWER?10
WHAT IS THE NEW VALUE?50000
**********************************************************
THE PRESENT VALUE Or THE COST TO MAKE IS
THE PRESENT VALUE Or THE COST TO BUY IS
19070.5
6034.78
HEWLETT-PACKARD CO. SHOULD BUY .2 PENCILS AT A SAVINGS Or
DOLLARS.
13035.7
MORE CHANGES?YES
SAME QUESTION?NO
WHAT IS THE NUMBER Or THE QUESTION TO WHICH YOU WOULD LIKE
TO CHANGE YOUR ANSWER?3
WHAT IS THE NEW VALUE?1000
**********************************************************
THE PRESENT VALUE Or THE COST TO MAKE IS
THE PRESENT VALUE Or THE COST TO BUY IS
20263.4
6034.78
HEWLETT-PACKARD CO. SHOULD BUY .2 PENCILS AT A SAVINGS Or
DOLLARS.
14228.6
MORE CHANGES?NO
*************************.***.** •• *••••• *•• *****.**.******.**
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CON T R I BUTE D P ROG R AM
BASIC
MORGAG
36094
TITLE:
MORTGAGE ANALYSIS
DESCRIPTION:
MORGAG will find the missing parameter of the following four, given the
remaining three: the rate charged on a mortgage, the life, the amount
borrowed, and the monthly payment. It will also print a summary, either
monthly or yearly, indicating the amount of interest, amount of payment,
and outstanding balance for each period.
INSTRUCTIONS:
Provide input from the teletype as requested.
ACKNOWLEDGEMENTS:
Frank Cada
Hewlett-Packard/Loveland Division
MORGAG, page 2
RUN
RUN
*
MORTGAGE ANALYSIS
*
IF YOU WANT TO FIND:
THE RATE" TYPE - 1 THE LIFE" TYPE -2THE AMOUNT BORROWED" TYPE -3THE MONTHLY PAYMENT" TYPE -4WHICH DO YOU WANT?1
MORTGAGE LIFE: YEARS" MONTHS?3,,0
AMOUNT TO BE BORROWED?3000
AMOUNT OF ONE MONTHLY PAYMENT?94.01
SETTLEMENT DATE CMO"YEAR)?10,,1971
TABLE LENGTH CYEARS)?4
ANNUAL OR MONTHLY SUMMMARYCI0R0)?1
***********************************************************
MORTGAGE TERMS
NOMINAL ANNUAL RATE=
8.00051
LIFE OF MORTGAGE
3
%
YEARS" 0
AMOUNT BORROWED
$
3000
MONTHLY PAYMENT
$
94.01
MONTHS
MORTGAGE TABLE
YEAR
1971
1972
1973
1974
INTEREST
PRINCIPAL
REPAYMENT
39.51
194.39
1 16.89
33.57
148.51
933.73
1011.23
906.531
ENDING
PRINCIPAL
OUTSTAN DIN G
2851.49
1917.76
906.531
(11
*****************************************************
DONE
RUN
*
MORTGAGE ANALYSIS
*
IF YOU WANT TO FINDs
THE RATE" TYPE - 1 THE LIFE" TYPE -2THE AMOUNT BORROWED .. TYPE -3THE MONTHLY PAYMENT" TYPE -4WHICH DO YOU WANT?2
NOMINAL ANNUAL RATE IN PERCENT?8
AMOUNT TO BE BORROWED?3000
AMOUNT OF ONE MONTHLY PAYMENT?94.01
SETTLEMENT DATE CMO"YEAR)?10,,19Tl
MORGAG,
TABLE LENGTH (YEARS)?4
ANNUAL OR MONTHLY SUMMMARY(10R0)?1
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
MORTGAGE TERMS
NOMINAL ANNUAL RATE=
8
%
=3
LIrE Or MORTGAGE
YEARS ..
AMOUNT BORROWED
= 5) 3000
MONTHLY PAYMENT
= 5) 94.01
MONTHS
THE MORTGAGE LIrE HAS BEEN ROUNDED UP TO NEAREST MONTH
MORTGAGE TABLE
YEAR
1971
1972
1973
1974
INTEREST
PRINCIPAL
REPAYMENT
39.51
194.39
116.88
33.57
148.51
933.73
1011.24
906.521
ENDING
PRINCIPAL
OUTSTANDING
2851.49
1917.76
906.521
0
.*•..•......•.•........•.....•..........•......•.....
DONE
RUN
•
MORTGAGE ANALYSIS
•
IF YOU WANT TO rIND:
THE RATE .. TYPE • 1 THE LIrE .. TYPE -2THE AMOUNT BORROWED .. TYPE -3THE MONTHLY PAYMENT .. TYPE -4WHICH DO YOU WANT?3
NOMINAL ANNUAL RATE IN PERCENT?8.00051
MORTGAGE LIrE: YEARS .. MONTHS?3 .. 0
AMOUNT Or ONE MONTHLY PAYMENT?94.01
SETTLEMENT DATE (MO .. YEAR)?10 .. 1971
TABLE LENGTH (YEARS)?
ANNUAL OR MONTHLY SUMMMAR·Y ( 1OR0)? 1
.* •••••••••••••••••••••••••••••••••••••••••••••••••••••••••
MORTGAGE TERMS
NOMINAL ANNUAL RATE=
8.00051
LIrE Or MORTGAGE
3
AMOUNT BORROWED
MONTHLY PAYMENT
= 5) 3000
5) 94.01
%
YEARS.. 0
MONTHS
page
3
MORGAG, page 4
MORTGAGE TA8LE
YEAR
1911
1972
1973
1974
INTEREST
PRINCIPAL
REPAYMENT
39.51
194.39
116.89
33.51
148.51
933.13
1011.23
906.531
ENDING
PRINCI PAL
OUTSTANDING
2851.49
1911.16
906.531
0
••••••••••••••••••••••••••••• **.*********************
DONE
RUN
*
MORTGAGE ANALYSIS
•
IF' YOU WANT TO F'INDs
THE RATE~ TYPE " 1 "
THE LIF'E~ TYPE "2·
THE AMOUNT 80RROWED~ TYPE ·3·
THE MONTHLY PAYMENT ~ TYPE ·4·
WH ICH DO YOU WANT?4
NOMINAL ANNUAL RATE IN PERCENT?8.00051
MORTGAGE LIF'E:
YEARS~
MONTHS?3~0
AMOUNT TO 8E 80RROWED?3000
SETTLEMENT DATE
CMO~YEAR)?10.~~1911
TA8LE LENGTH CYEARS)?4
ANNUAL OR MONTHLY SUMMMARY(10R0)?0
*******.** •••• **** ••• *.*.*****.*.*.******.*****************
MORTGAGE TERMS
NOMINAL ANNUAL RATE=
8.00051
LIF'E OF' MORTGAGE
3
%
MONTHS
AMOUNT 80RROWED
$
3000
MONTHLY PAYMENT
$
94.0091
MORTGAGE TA8LE
MONTH
II
12
8EGINNING
PRINCIPAL
OUTSTANDING
INTEREST
F'OR THE CALENDAR YEAR 1911
3000
20
2925.99
19.51
PRINCIPAL
REPAYMENT
14.0091
14.4998
PRINCIPLE REPAID DURING 1971
148.51
INTEREST PAID DURING
1971
39.51
PRINCIPLE OUTSTANDING AT YEAR END = 2851.49
MORGAG, page 5
---------------------------------------------------------#1
2
3
FOR THE CALENDAR YEAR 1972
2851.~9
19.01
2776.~9
18.51
2700.99
18.~1
262~.99
17.5
2548.~8
16.99
7~.9998
2~71.~6
16.~8
75. ~998
75.9998
76.5097
77.0197
77.5298
15.96
78.0~98
15.~~
11
2393.93
2315.88
2237.31
2158.22
2078.6
12
1998.~5
78.5697
79.0898
79.6198
80. 1 ~97
80.6898
~
5
6
7
8
9
10
1~.92
1~.39
13.86
13.32
PRINCIPLE REPAID DURING 1972
933.727
INTEREST PAID DURING
1972
19~.39
PRINCIPLE OUTSTANDING AT YEAR END
1917.76
=
---------------------------------------------------------#I
2
3
~
5
6
7
8
9
10
11
12
FOR THE CALENDAR YEAR 1973
12.79
1917.76
1836.5~
12.2~
175~.78
11.7
I 1 • 15
10.6
1672. ~7
1589.61
1506.2
81.2198
81.7697
82.3098
82.8598
83.~097
83.9698
10.0~
1~22.23
9.~8
8~.5298
1337.7
1252.61
1166.95
1080.72
993.917
8.92
8.35
7.78
7.21
6.63
85.0898
85.6597
86.2298
86.7997
87.3797
1011.23
PRINCIPLE REPAID DURING 1973
116.89
1973
INTEREST PAID DURING
PRINCIPLE OUTSTANDING AT YEAR END = 906.538
---------------------------------------------------------#1
2
3
FOR THE CALENDAR YEAR
6.0~
906.538
5.~6
818.568
~.87
730.018
~
6~0.878
~.27
5
6
7
8
9
10
11
551.139
3.67
3.07
2. ~7
1.86
1. 2~
.62
0
~60.799
369.859
278.319
186.17
93.~
1.0208IE-02
197~
87.9698
88.5~97
89.1398
89.7397
90.3398
90.9397
91.5397
92.1~97
92.7697
93.3898
1.0208IE-02
906.538
PRINCIPLE REPAID DURING 1 97 ~
197 ~
INTEREST PAID DURING
PRINCIPLE OUTSTANDING AT YEAR END
0
=
33.57
*****************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
REP
TITLE:
DATA CENTER INVENTORY REPORT GENERATOR
DESCRIPTION:
This package includes two programs REPort and INput which together allow
the user to generate sorted listings of information in a data file. The
sample RUN enclosed uses a data file of computer equipment on consignment
to the Atlanta Data Center. The data file is created and maintained by
INput. Each item in the file occupies one record on a fixed head disc.
The maximum number of items is currently 180 but the program could be
modified to the limits dictated by the system hardware (552 on 2000A,
unlimited on 2000S or 2000C). Sorted listings are available for model
numbers, status, location, date received, and sales discipline. The program
uses string sorting (pair exchange).
INSTRUCTIONS:
DATA CENTER INVENTORY REPORT GENERATOR (REP)
36177
DATA CENTER INVENTORY MASTER DATA INPUT (IN)
DATA FILE (DUMPED BY "FILDUM")
1.
2.
3.
Four files are involved in this oackaqe C1, C2, CSORT1, and CSORT2.
If data is not on system RUN FILREA, answer "1" to how many files
and input data tape.
If data is on system GET and RUN "REP" or "IN" (see sample attached).
SPECIAL
CONSIDERATIONS:
Data file consists of the following information in order;
VARIABLE
FIELD
TYPE
NAME
LENGTH
FUNCTION
NUMERIC
10
ITEM # (ASSIGNED BY IN)
0
STRING
M$
MODEL #
9
STRING
S$
10
SERIAL #
STRING
STATUS
U$
10
STRING
LOCATION CODE
L$
4
STRING
LIST PRICE
P$
5
STRING
DATE RECEIVED
R$
8
STRING
DATE SHIPPED
H$
8
MANUFACTURING DIV CODE
B$
STRING
3
STRING
SALES DISCIPLINE
D$
8
STRING
COMMENTS
C$
30
ACKNOWLEDGEMENTS:
Phi 1 R. Carter
Hewlett-Packard/Southern Sales Region
REP, Page 2
RUN
GET-REP
RUN
REP
---------------DATA CENTER INVENTORY---------~----
REPORT GENERATOR PROGRAM
PLEASE SELECT A REPORT OPTION
TO LIST FOR 1 MODEL I TYPE (1)--------TO LIST FOR 1 STATUS
TYPE(2)---------TO LIST FOR 1 OFFICE TYPE (3)----------TO LIST BY DATE RECEIVED TYPE (4)------TO LIST FOR 1 SALES DISCIPLINE TYPE (5)---------------11
MODEL I
(1 TO 10 CHARACTERS)--------------?2100A
STANDARD LIST IS BY SERIAL I . TO CHANGE THIS TYPE (NO)
OTHERWISE (YES)1YES
FOR SHORT FORM PRINTOUT TYPE (1) OTHERWISE (0)--10
ITEM I
MODEL I
SERIAL I
STATUS
------------------ ---------2199A
2
SOL.D
16
**SALES
17
**SALES
18
**SALES
15
**SALES
DISCIPL.INE
21921A
DISCIPLINE
21210A
DISCIPLINE
21921A
DISCIPL.INE
L.OC PRICE
ATL. 19759
NEW
FOR SAL.E DAL 19759
3
SYS NEW
4
RENTED NOLA 1217521
DP U S STEEL
FOR SALE ATL 107521
9
DP NEW
RCDT
-------92/19/71
SHOT
--------
MFDV
NA
22
931 1ftJ/71
NA
22
94/10/71
NA
22
11/121/71
NA
22
DP
43999
DO YOU WANT ANOTHER MODEL I (YES OR NO)?YES
MODEL. I (1 TO 10 CHARACTERS)--------------?2100A
STANDARD LIST IS BY SERIAL I . TO CHANGE THIS TYPE (NO)
OTHERWISE (YES)1YES
FOR SHORT FORM PRINTOUT TYPE (1) OTHERWISE (21)--11
ITEM I
16
17
18
15
MODEL. I
SERIAL I
STATUS
------------------2 ---------50L.D
2f99A
2109A
210"A
21021A
3
4
9
LOC PRICE
AiL. 19759
FOR SAL.E DAL. 10759
RENTED NOL.A 10759
FOR SAL.E ATL 10750
43"9"
DO YOU WANT ANOTHER MODEL. I (YES OR NO)?NO
DO YOU WANT ANOTHER REPORT 0 YOU WANT ANOTHER REPORT (YES OR NO)---?YES
REPORT' (1 TO 5)------?3
OFFICE NAME (USE STANDARD OFFICE CODE)---1DAL
STANDARD LIST IS FOR I MODEL'
FOR ALL MODEL ,IS TYPE 'ALL'-FOR 1 MODEL' T?PE (I TO 1f2J-CHARACTERS)-------------1ALL
FOR SHORT FORM PRINTOUT TYPE (I) OTHERWISE Cf2J)--?1
ITEM
:14
:17
,
MODEL ,
SERIAL
,
STATUS
LOC PRICE
3
FOR SALE
OAL
6f2Jf2J 21/f2J7/71
DAL 1f2J75f2J 03/1f2J/71
------------------ ---------12597A-f2JB5
NSN
FOR SALE
21f2Jf2JA
RCDT
SHOT
-------- --------
NA
NA
MFDV
22
22
11350
DO YOU WANT ANOTHER OFFICE (OFFICE NAME OR NO)--1NO
DO YOU WANT ANOTHER REPORT (YES OR NO)---1YEP
REPORT' (I TO 5)------14
STANDARD LIST IS FOR I MODEL
TYPE MODEL' (I TO lf2J CHARACTERS)--?21f2Jf2JA
FOR SHORT FORM PRINTOUT TYPE (I) OTHERWISE Cf2J)--11
IT'EM ,
16
17
18
15
MODEL ,
SERIAL ,
STATUS
--------- ------------------2IBf2JA
2
501..0
21f2J0A
210f2JA
21f2Jf2JA
3
4
9
LOC PRICE
AT 1.. 1f2J75"
FOR SALE OAt. 10750
RENTED NOLA If2J75f2J
FOR SALE ATL 10750
4301"-
RCDT
SHOT
-------- -------f2J2/1'J/71
03/1f2J/71
f2J4/10/71
11/1f2J111
NA
NA
NA
NA
MFDV
22
22
22
22
REP, Page 4
DO YOU WANT ANOTHER HODEL (YES OR NO)---?NO
DO YOU WANT ANOTHER REPORT (YES OR NO)---?YES
REPORT I (1 TO 5)------15
ENTER SALES DISCIPLINE (1 TO 8 CHARACTERS)---1SYS
STANDARD LIST IS FOR 1 HODELI
FOR ALL HODEL I'S TYPE 'ALL'-FOR I HODEL I T~E (I TO IS-CHARACTERS)-------------?ALL
rOR SHORT FORH PRINTOUT TYPE (I) OTHERWISE (S)--11
ITEM
14
11
19
2S
I
HODEL
I
SERIAL
I
STATUS
LOC PRICE
FOR SALE
OBS
OBS
DAL
600
DAL IS15S S3/1S111
ORL IS5SS S3/S3/1S
ORL IS5SS S3/S3/1S
--------------------------NSN
FOR SALE
12597A-S'5
21SSA
2114B
21148
3
13
13
RCDT
32356
DO YOU WANT ANOTHER SALES DISCIPLINE(YES OR NO)--1NO
DO YOU WANT ANOTHER REPORT (YES OR NO)---?NO
DONE
SHOT
-------- -------NA
21/S7/n
NA
NA
NA
MFDV
22
22
22
22
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
SALES
36095
TITLE:
SALES COMMISSION REPORT
DESCRIPTIO"I:
Dependent upon a number of input conditions, SALES will print a monthly
planning table for a salesman, with his base salary, incentive dollars,
and prospective billing totals.
INSTRUCTIONS:
Self-explanatory
note only: IIINITIAL REVENUE II means the initial sales price of a unit
item that this salesman sells.
IIBILLING II is total amount of sales for the salesman.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
None
SALES, page 2
RUN
GET-SSALES
RUN
SALES
•
SALES COMMISSION PLANNING
•
ENTER THE BASE ANNUAL SALARY_ COMMISSION %_ & MONTHLY QUOTA?5000_.20_10
ENTER EXPECTED NUMBER
O~
NEW ACCOUNTS PER MONTH?l
ENTER EXPECTED INITIAL REVENUE & RATE Or GROWTH?100_.10
WHAT IS THE BEGINNING MONTH Or THE ANALYSIS [1-12]11
DO YOU WANT AN [ANNUAL] OR [MONTHLY] PRINTOUT?MONY·THLY
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
=
=
BASE SALARY
S 5000
MONTHLY QUOTA
10
BASED ON 1
NEW ACCOUNTS PER MONTH WITH AN INITIAL REVENUE
Or S 100 AND AN AVERAGE GROWTH Or 10
% PER MONTH_YOU CAN EXPECT:
MO NO. BASE S
1
2
3
4
5
6
7
8
9
10
11
12
INCENTIVE S
416.667
416.667
416.667
416.667
416.667
416.667
416.667
416.667
416.667
416.667
416.667
416.667
18
40
64.2
90.82
120.102
152.312
187.743
226.718
269.589
316.748
368.623
425.686
TOTAL
MONTHLY
BILLING
$
434.667
456.667
480.867
507.487
536.769
568.979
604.41
643.384
686.256
733.415
785.29
842.352
100
210
331
464.1
610.51
771.561
948.717
1143.59
1357.95
1593.74
1853012
2138.43
TOTAL
BILLING
100
310
641
1 105. 1
1715.61
2487.17
3435.89
4579.48
5937.42
7531.17
9384.28
11522.7
YEARLY TOTALS:
PAYROLL
=
BASE
5000
INCENTIVE
2280.54
TOTAL
7280.54
MONTHLY REVENUE AT END Or CALENDAR YEAR IS
TOTAL BILLINGS
$
$
2138.43
11522.7
TOTAL PAYROLL AS A PERCENT Or SALES:
63.1843
•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
TITLE:
DESCRIPTION:
INSTRUCTIONS:
COMPOUND INTEREST
SAVING
36708
This program calculates the amount of money that would accumulate after N
years at an annual interest rate.
Variable are denoted as follows:
N = Period of years
R = Annual interest rate
T = Times compunded per year
P = Initial amount
D = Amount added at the beginning of each year
Note:
ACIKNOWLEDGEMENTS:
BASIC
That P ahd D are given in dollars
That Nand T must be integers
That R is given as a percentage
Babson Co 11 ege
Babson Park, Massachusetts
SAVING~
Page 2
RUN
RUN
SAVING
THIS PROGRAM CALCULATES THE AMOUNT OF MONEY THAT
WOULD ACCUMULATE AFTER N YEARS AT AN ANNUAL INTEREST RATE
VARIABLES ARE DENOTED AS FOLLOWS
N = PERIOD OF YEARS
R = ANNUAL INTEREST RATE
T = TIMES COMPOUNDED PER-YEAR
P = INITIAL AMOUNT
D = AMOUNT ADDED AT THE BEGINNING OF EACH YEAR
NOTE. THAT P AND D ARE GIVEN IN DOLLARS
THAT NAND T MUST BE INTEGERS
THAT R IS GIVEN AS A PERCENTAGE
WHAT ARE P(S>.D(S>.N(INT>.T(INT>.R(X>
11000.150.7.2.8
AFTER 7
YEARS. 1000
DOLLARS INVESTED AT 8
PERCENT COMPOUNDED 2
TIMES PER YEAR. WITH THE
ADDITION OF 150 DOLLARS PER YEAR. YIELDS A TOTAL
OF 2926.67
DOLLARS.
WRITE YES(I> TO CONTINUE OR NO (2)
12
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
STKINC
36096
TITLE:
STOCK MERGER INCENTIVE PROGRAM
DESCRIPTION:
STKINC prints a table for stock incentive estimates, including prospective
prices and gains, for the consolidated earnings of two companies considering merging.
INSTRUCTIONS:
STKINC requires the use of a data file. This file is used only while the
program is running, and it is sufficient to open the file directly before
running STKINC, and then to kill it immediately after the program completion. The OPEN statement should read:
e(r
-GPf'N-STKFLE,
25
Input information required includes internal growth rates and current
before-tax earnings for both companies, an estimated external growth rate
after merging, a price/earnings ratio, the number of outstanding shares of
stock, both common and qualified, after merging, and expected growth rate
of the number of shares.
The program is presently initialized for a base year of 1969.
To update to base year Y, enter:
9445
9446
9680
9840
9910
ACKNOWLEDGEMENTS:
PRINT TAB(24); Y;TAB(36); Y+l; TAB(48); Y+2; TAB(60);
PRINT Y + 3
PRINT TAB(24); Y + 4; TAB(36); Y + 5; TAB(48); Y + 6
PRINT Y + X;
LET Y9 = Y + 1
STKINC, page 2
RUN
GET-SSTKINC
C~~~-STKFLE,25
RUN
STKINC
• STOCK INCENTIVE PROGRAM (MERGER)
•
THIS PROGRAM WILL PRINT A TABLE FOR STOCK INCENTIVE ESTIMATES, INCLUDING PROSPECTIVE PRICES AND GAINS, FOR A COMPANY CONSIDERING MERGING.
WHAT IS YOUR PRICE/EARNING RATIO? (ANSWER MUST BE > 1)150
WHAT IS YOUR INTERNAL GROWTH RATE?10
WHAT IS YOUR COMPANY'S PRESENT BEFORE TAX EARNINGS?50000
WHAT IS THE INTERNAL GROWTH RATE OF THE COMPANY WITH WHICH YOU ARE CONSIDERING MERGING?12
WHAT IS THIS COMPANY'S PRESENT BEFORE TAX EARNINGSJ65A00
WHAT DO YOU EXPECT YOUR EXTERNAL GROWTH RATE TO BE AFTER MERGING?15
WHAT DO YOU EXPECT THE TOTAL NUMBER OF OUTSTANDING SHARES TO BE AFTER
MERGING?100000
WHAT DO YOU EXPECT THE ANNUAL PERCENTAGE INCREASE IN THE NUMBER OF OUTSTANDING SHARES TO BE?5
••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
1969
1970
1971
1972
CO. A BT EARNINGS
25 change dim statement in line 9205 accordingly.
ACKNOWLEDGEMENTS:
STKRTN, page 2
RUN
GET-$STKRTN
RUN
STKRTN
* STOCK RETURNS
*
DO YOU WISH TO ENTER YOUR DATA FROM THE TELETYPE, OR INTERNALLY
USING DATA-STATEMENTS?
('T' FOR TELETYPE, '0' OTHERWISE)?T
FOR HOW MANY YEARS DO YOU WISH TO ENTER PRICE AND DIVIDEND DATA, REMEMBERING THE NEED FOR A BASE YEAR?? (MAX # OF YEARS IS 25)?6
WHAT IS THE FIRST YEAR FOR WHICH YOU WISH·TO ENTER DATA?1969
ENTER THE DIVIDEND PER SHARE AND THE CLOSING STOCK PRICE, SEPERATED
BY A COMMA, FOR EACH OF THE FOLLOWING YEARS.
DPS, CSP
YEAR
YEAR
YEAR
YEAR
YEAR
YEAR
1969
1910
1971
1912
1973
1914
?5.00,
15.10,
?5.25,
15.50,
?6.00,
15.75,
50
55
60
15
80
85
***********************************************************************
RETURNS ON INVESTMENTS
TO
FROM
1969
1970
1971
1972
1970
TO
FROM
1969
1970
1971
1972
1973
1974
1971
1972
1973
.1945
.. 8636
.23174
.25847
.34166
.21693
.22286
.24392
.14666
.20248
.20263
.20905
.14072
.13437
AVERAGE RETURN FROM 1969
.21073
AVERAGE RETURN FROM 1910
.21758
AVERAGE RETURN FROM 1971
= .264877
AVERAGE RETURN FROM 1972
.14369
AVERAGE RETURN FROM 1973
.13437
AVERAGE RETURN FOR ALL
POSSIBLE HOLDING PERIODS
.209357
STANDARD
DEVIATION
1.40011E-02
COEFF.
VARIATION
.365994
.220637
FOR ALL
YR HOLDING PERIODS:
AVERAGE
RETURN
.20221
FOR ALL 2
YR HOLDING PERIODS:
.209402
4.62019E-02
FOR ALL 3
YR HOLDING PERIODS.
5.24841E-02
.223217
1.17153E-02
FOR ALL 4
YR HOLDING PERIODS:
3.40831E-02
.20918
1.14995E-03
YR HOLDING PERIODS:
.20248
o
FOR ALL 5
FOR ALL POSSIBLE HOLDING PERIODS: .209351
5.16289E-02
o
.246601
************************************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
STKSMO
36099
TITLE:
EXPONENTIAL SMOOTHING AS A STOCK GUIDE
DESCRIPTIOI\I:
STKSMO uses exponential smoothing on past price data to provide a guide
for the timing of buy and sell orders of a given stock.
INSTRUCTIONS:
STKSMO is designed to keep an internal record of the price history of a
given stock. The first time it is used, the input data is smoothed
exponentially to provide a list of price forecasts. At the completion of
this first run the user is asked whether he will wish to use the results
of this run at a future time. If he so chooses, he should copy the lines
that are then provided, and re-save the program, perhaps under a new name
for clarity. Then, the next time the program is run, the initial trends
have already been determined, and any new data can be accepted, and acted
upon more reliably. After this second and all subsequent runs, a message
will be provided for each new period describing the buy or sell action
which ought to be taken.
The data for the first run should simply be the actual price of the given
stock for any N number of consecutive periods.
SPECIAL
CONSI DERA TIONS:
ACKNOWLEDGEMENTS:
100 periods of data per run is the maximum.
statements in lines 9025 and 9030.
Otherwise alter the dim-
STKSMO, page 2
RUN
GET-$STKSMO
RUN
STKSMO
*
*
EXPONENTIAL SMOOTHING AS A STOCK GUIDE
THIS PROGRAM USES EXPONENTIAL SMOOTHING OF PAST PRICE DATA TO PROVIDE
A GUIDE FOR THE TIMING OF BUY AND SELL ORDERS.
TO ENTER THE DATA fOR THE STOCK YOU ARE CONSIDERINGI TYPE THE DATA
BEGINNING IN LINE 9900. NO MORE THAN 100 PERIODS MAY BE CONSIDERED.
THEN TYPE: '9035 LET Q=I'
'RUN'
DONE
9900 DATA 10011021104110511061106110711081109111011111112
9035 LET Q=1
RUN
STKSMO
*
*
EXPONENTIAL SMOOTHING AS A STOCK GUIDE
fOR HOW MANY PERIODS DID YOU ENTER DATA?12
ENTER A SMOOTHING COEFfICIENT BETWEEN 0.1 AND 0.9?75
***********************************************************************
PERIOD
1
2
3
4
5
6
7
8
9
10
11
12
ACTUAL
PRICE
ESTIMATED
PRICE
ESTIMATED
GROWTH
100
102
104
105
106
106
107
108
109
110
1 11
112
100.
102.
104.
105.062
106.031
106.074
106.973
107.982
108.993
109.997
110.999
112.
1.99997
1.99997
1.99997
1.43747
1.15622
.488251
.734344
.899139
.966156
.989365
.99678
.999069
PREDICTED
PRICE FOR
NEXT PERIOD
102.
104.
106.
106.5
107.187
106.562
107.707
108.881
109.959
110.987
11 1.996
112.999
***********************************************************************
DO YOU WISH TO USE THIS PROGRAM AS A CONTINUING AID FOR THE TIMING OF
BUY AND SELL DECISIONS ON THIS SAME STOCK AT SOME FUTURE TIME?YES
WHAT IS THE NAME OF THIS STOCK?HEWLETT-PACKARD COMMON
WHAT TIME PERIOD HAVE YOU USED THUS FAR??CEX:MAY 111969 TO MAY 111970)
?JANUARYI 1968 TO DECEMBERI 1968
THEN ENTER THE FOLLOWING LINES BEFORE SIGNING OFF:
'9035 LET Q=2'
'9286 LET XCX9) = 111.667
'9287 LET YCY9) = 111.334
'9288 LET A = .75
'9280 LET A$ ='HEWLETT-PACKARD COMMON' ,
'9281 LET B$ ='JANUARYI 1968 TO DECEMBERI 1968' ,
'KILL-STKSMO'
'SAVE'
DONE
9035 LET Q=2
9286 LET XeX9) = 111.667
9287 LET YCY9) = 111.334
9288 LET A = .75
9280 LET A$
"HEWLETT-PACKARD COMMON"
9281 LET B$ = "JANUARYI 1968 TO DECEMBER
KILL-STKSMO
SAVE
~I
1968"
STKSMO, page 3
RUN
STKSMO
*
EXPONENTIAL SMOOTHING AS A STOCK GUIDE
*
THIS PROGRAM IS BEING USED TO PROVIDE A GUIDE TO THE TIMING OF BUY
AND SELL ORDERS ON HEWLETT-PACKARD COMMON.
IT IS BASED UPON DATA FROM THE PERIODIJANUARY, 1968 TO DECEMBER, 1968.
FOR HOW MANY ADD~TIONAL PERIODS FOLLOWING THE LAST MARKET DATA
SHOWN DO YOU WIS TO ENTER DATA112
WHAT IS THE PRIC FOR PERIOD 1
1112
WHAT IS THE PRICE FOR PERIOD 2
1113
WHAT IS THE PRICE FOR PERIOD 3
1114
WHAT IS THE PRICE FOR PERIOD 4
1113
WHAT IS THE PRICE FOR PERIOD 5
1112
WHAT IS THE PRICE FOR PERIOD 6
1113
WHAT IS THE PRICE FOR PERIOD 1
1112
WHAT IS THE PRICE FOR PERIOD 8
1114
WHAT IS THE PRICE FOR PERIOD 9
1115
WHAT IS THE PRICE FOR PERIOD 10
1116
WHAT IS THE PRICE FOR PERIOD 11
1111
WHAT IS THE PRICE FOR PERIOD 12
1118
WHAT PERCENTAGE DIFFERENCE (EXPRESSED AS A DECIMAL) BETWEEN THE PREDICTED AND ACTUAL PRICE WOULD YOU LIKE TO USE AS A SCREENING RATE
FOR THE BUY AND SELL ORDERS1.02
***********************************************************************
PERIOD
1
2
3
4
5
6
1
8
9
10
11
12
ACTUAL
PRICE
ESTIMATED
PRICE
ESTIMATED
GROWTH
112
113
114
113
112
1 13
112
114
115
116
117
118
112.062
112.969
113.98
113.111
112.06
112.898
112.07
113.854
114.985
116.002
111.002
118.001
.431013
.118591
.89441
-.160112
-.698502
.223251
-.401221
.901425
1.04169
1.02663
1.0101
1.00365
PREDICTED
PRICE FOR
NEXT PERIOD
112.5
113.681
114.815
112.951
111.361
113.121
11 1 .663
114.761
116.027
117.028
118.012
119.004
***********************************************************************
IN PERIOD 1
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT, AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD 2
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT, AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD 3
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT, AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD 4
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT, AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD 5
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT, AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD 6
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT, AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD 1
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT, AND NO BUY OR SELL ORDER IS INDICATED.
STKSMO, page 4
IN PERIOD 8
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT~ AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD
LESS THAN
PERCENT~
9
2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD 10
LESS THAN 2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT~ AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD
LESS THAN
11
2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT~ AND NO BUY OR SELL ORDER IS INDICATED.
IN PERIOD
LESS THAN
12
2
THE PREDICTED PRICE VARIES FROM THE ACTUAL PRICE BY
PERCENT~ AND NO BUY OR SELL ORDER IS INDICATED.
DO YOU WISH TO USE THIS PROGRAM AS A CONTINUING AID FOR THE TIMING OF
BUY AND SELL DECISIONS ON THIS SAME STOCK AT SOME FUTURE TIME?NO
THEN ENTER '9035 LET
DONE
9035 LET Q=0
KILL-STKSMO
SAVE
Q=0'~
'KILL-STKSMO'~
AND 'SAVE' BEFORE SIGNING OFF.
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CO NTR I BU TE 0
P ROG R AM
BASIC
STKVAL
36100
TITLE:
STOCK VALUE AND EVALUATION REPORT
DESCRIPTION:
STKVAL calculates a stock's value as determined by its growth rate over
a period of years, and determines whether it is advisable to purchase
the stock or not.
INSTRUCTIONS:
It is assumed that at some point in the stock's life its earning's
growth rate will approach 5 percent, a conservative estimate of the
currently expected growth rate of our economy.
Before this long-term growth rate is reached, there will be a period of
non-normal growth. This non-normal growth period may contain many
shorter periods of differing growth rates. For each of these shorter
periods, you will be asked to supply the ending year of the period, and
the growth rate you expect for the stock during this period.
It is important to note that when you have reached the end of what you
consider the non-normal period, you must enter .~5 as the expected
growth rate. Any year greater than the beginning year will suffice.
For initialization, note remark at line 9765.
The data item in line 9790 is the value of the first period under consideration. It is here initial ized to the year 1969. By changing this
value one can initialize the program to any year, or, if monthly or
semi-annual periods are being considered, to any period 10 number.
SPECIAL
CONSIDERATIONS:
ACKNOWLEDGEMENTS:
The program is limited to a 50 year life.
the dimensions in lines 9025 and 9030.
To increase this life, change
STKVAL, page 2
RUN
GET-$STKVAL
RUN
STKVAL
*
STOCK VALUE & EVALUATION
*
THIS PROGRAM DETERMINES WHETHER A CERTAIN STOCK OUGHT TO BE INVESTED
IN# DEPENDING ON CERTAIN INPUT CONDITIONS.
IT ALSO PROVIDES A LIST
Of THE STOCK'S VALUE AND PRICE fOR EACH PERIOD.
WHAT IS THE CURRENT MARKET VALUE Of THE STOCK UNDER CONSIDERATION?100
WHAT IS THE STOCK'S CURRENT EARNINGS PER PERIOD?10
WHAT DO YOU EXPECT THE NORMALIZED EARNINGS fOR THE NEXT PERIOD TO BE?20
WHAT IS THE CURRENT MARKET CAPITALIZATION RATE?12
AND WHAT IS THE PAYOUT RATIO?33
NOW PLEASE ENTER THE ENDING YEAR AND THE GROWTH RATE YOU EXPECT
fOR EACH Of THE NON-NORMAL GROWTH PERIODS BEfORE THE STOCK SETTLES
TO A STEADY 5% RATE.
(REMEMBER THE LAST ENTRY MUST INDICATE THE ATTAINMENT Of THE 5% RATE).
BEGINNING
YEAR
--------1970
1971
1972
1973
1975
1976
1981
1986
1991
1969
ENDING GROWTH
YEAR
RATE
?19712J#
?1971#
?1972#
? 1974#
?1975#
?19812J#
?1985#
1199121#
?1991#
2.00
1.75
1.5121
1.25
1.121121
.5121
.25
.10
.05
VALUES fOLLOW:
PRICE
EARNINGS
PIE RATIO
: $ 1121121
$ 1121
1121
**********************************************************************
INTRINSIC VALUE
= 114146.
fROM THE INfORMATION YOU HAVE SUPPLIED#
AND SINCE THE INTRINSIC VALUE IS EXACTLY
127736.
PERCENT ABOVE THE PRESENT PRICE
I AM SURE THAT THIS STOCK SHOULD BE
PURCHASED AT THIS TIME.
DO YOU WANT A LIST Of VALUES IN fUTURE YEARS1YES
CAPITALIZER
YEAR
EARNINGS
GROWTH
RATE
197121
1971
1972
1973
1974
1975
1976
1977
1978
1979
198121
1981
2121
6121
165
412.5
928.125
212188.28
4176.56
6264.84
9397.27
1412195.9
21143.8
31715.8
2
1.75
1.5
1.25
1.25
1
.5
.5
.5
.5
.5
.25
571217.28
213121.61
867.619
388.561
193.27
96.121591
53.6281
39.8223
29.514
21.8171
16.12171211
11.779
VALUE
(BEGINNING
Of YEAR)
114146.
127836.
143157.
16121281.
179379.
20121598.
223981.
249481 •
277351.
31217532.
339784.
373581.
STKVAL, page 3
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
39644.1
49555.9
61944.9
11431.1
96188.9
106468.
111115.
128826.
141709.
155879.
VIE RATIO
.25
.25
• 25
.25
•1
•1
•1
•1
•1
.05
10.29
8.95584
1.16044
6.68935
5.12966
5.53384
5.33445
5.13144
4.92414
4.11428
401944.
443815.
480119 •
511964.
5545.61.
589115.
624742.
661063.
697818.
734860.
11414.6
**********************************************************************
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
TRCKll
36174
TITLE:
CALCULATE TRUCK FREIGHT RATES
DESCRIPTlor~:
This prooram calculates for truck movements the break point weiqhts
for a qiven commodity between any two points as published in any truck
freiqht tariff. It then prints a table suitable for use by anyone
involved in rating, preparinq or checkino truck freiqht shipments.
INSTRUCTIONS:
See line 60 to 120 of the program. The user should prepare a worksheet
with the required data before usinq the proqram. The option of printinq
multiple copies of the results is provided as terminal cost to print
additional copies may be equal to or less than other means of duplication.
ACKNOWLEDGEMENTS:
Jeff Johnson
Hewlett-Packard/Eastern Sales Region
TRC/C 1 t page 2
RUN
RUN
TRCK(.l
DO YOU REQUIRE INSTRUCTIONS1NO
FROM1EWR
T01PARAHUS. NEW JERSEY
VIA1ACI DESIGNATED TRUCK
FOR1PICKUP AND DELIVERY OF ANY COMMODITY
ENTER EFFECTIVE DATE OF RATES130JULl
ENTER MINIMUM CHARGE IN S14.05
HOW MANY RATE CLASSES IN THIS COMMODITY ARE THERE16
PLEASE ENTER DATA AS REQUIRED.
RATE 1- S11.80
WEIGHT 1-?100
RATE 2- S11.70
WEIGHT 2-11000
RATE 3- S? 1.60
WEIGHT 3-12000
RATE 4- S11.15
WEIGHT 4-13000
RATE 5- S1.95
WEIGHT 5-15000
RATE 6- S1.75
WEIGHT 6-110000
HOW MANY COPIES?l
FROM •••• EWR
TO •••••• PARAMUS .. NEW JERSEY
VIA ..... ACI DESIGNATED TRUCK
FOR ••••• PICKUP AND DELIVERY OF ANY COMMODITY
ACT GROSS WT
TO
225
CHARGEABLE WT
---------DECLARE AS
MINIMUM
RATE/LB
CHARGES
-------
------S
4.05
226 TO 944
945 TO 1000
ACTUAL
1009
S0.0180
S0.0170
AS EXTENDED
S 17.00
1001 TO 1882
1883 TO 2000
ACTUAL
2000
S0.0170
S0.0160
AS EXTENDED
S 32.00
2001 TO 2156
2157 TO 3900
ACTUAL
3000
50.0160
50.0115
AS EXTENDED
5 34.50
3001 TO 4130
4131 TO 5000
ACTUAL
5000
50.0115
S0.0095
AS EXTENDED
S 47.50
5001 TO 7894
7895 T010000
ACTUAL
10000
S0.0095
50.0075
AS EXTENDED
S
75.00
ACTUAL
50.0075
AS EXTENDED
10001 TO
EFFECTIVE DATE OF RATES •• 30JUL 1
DO YOU HAVE MORE DATA1NO
DONE
BUSINESS AND MANUFACTURING APPLICATIONS (700)
CONTRIBUTED PROGRAM
BASIC
TRUINT
TITLE:
TRUE ANNUAL INTEREST RATE ANALYSIS
DESCRIPTION:
TRUINT calculates the true annual interest rate charged on an installment
load.
INSTRUCTIONS:
Self-explanatory.
Four input
A=
P=
N=
K=
ACKNOWLEDGEMENTS:
values are required:
amount of loan (in dollars)
amount of each payment (in dollars)
total number of payments
number of payments per year
36101
TRUINT,
paqe
2
RUN
GET-$TRUINT
~N
TRUINT
*
*
TRUE ANNUAL INTEREST RATE
THIS PROGRAM CALCULATES THE TRUE ANNUAL INTEREST RATE CHARGED ON AN
INSTALLMENT LOAN.
Ir YOU NEED INSTRUCTIONS TYPE 1~ OTHERWISE TYPE 0: ?1
TO USE THIS PROGRAM IT IS NECESSARY rOR YOU TO SUPPLY THE VALUES rOR
rOUR VARIABLESI A = AMOUNT Or LOAN (IN $)~ P = AMOUNT Or EACH
PAYMENT ($)~ N = THE TOTAL NUMBER Or PAYMENTS DUE~ AND K = THE NUMBER
Or PAYMENTS DUE IN ONE YEAR.
THE TRUE ANNUAL INTEREST RATE
=
3.03
ANOTHER CASE?? TYPE 'N' TO QUIT~ 'Y' TO TRY AGAIN?Y
WHAT ARE A~P~N~K ?1000~100~11~11
THE TRUE ANNUAL INTEREST RATE
ANOT~ER
DONE
CASE??
TYPE 'N' TO
=
QUIT~
17.85
'Y' TO TRY AGAIN?N
BUSINESS AND MANUFACTURING APPLICATIONS (700)
co N T R I BU TE D
P ROG R AM
BASIC
VRRC
36557
TITLE:
INVESTMENT STRATEGY ANALYSIS
DESCRIPTION:
This program uses the Tektronix 4010 display to plot results for each of
ten different investment strategies over a period of time selected by the
user. The time-period can begin in any year between 1931 and 1967
(inclusive) and can end in any later year in the same range. The user
specifies the beginning and ending years. The program then determines the
annual returns obtained with each of the ten strategies for each year
within the period. Four graphs are produced. The first shows the average
annual returns for the ten strategies. The next shows the values of "beta"
-- the slope of a regression line obtained by regressing the strategy's
returns on those of the market as a whole. The third graph shows the
geometric mean returns for the ten strategies. The final graph provides
a scatter diagram relating the values of the average annual returns to
those of beta for the ten strategies. A regression line is also fit to
the data in the final graph.
Strategy 10 involves investment each year in the top 10% of the stocks
ranked on the basis of market sensitivity during the previous 60 months.
Strategy 9 uses the next 10%, etc. . Thus strategy 10 is intended to be
a high-risk return strategy, while strategy 1 is intended to be a low
risk-return strategy.
INSTRUCTIONS:
INTRODUCTION
Within the last decade economists have investigated rather thoroughly the
nature of a "perfect" or "efficient" market for securities. A widely used
model dealing with uncertainty is that developed by Sharpe (6), Lintner (3)\
Mossin (5), and Fama (2), based on the pioneering contributions of
Markowitz (4) and Tobin (8). Variously known as the "capital asset pricing
model ," "capital market theory," or the "market line theory," the approach
deals with ex ante or predicted relationships. Breifly, it suggests that:
1)
the appropriate measure of risk for a security or portfolio is the
covariance of its rate of return with that of a portfolio composed of all risky assets, each held in proportion to its total
value, and
2) the expected return of any security or portfolio will equal a
constant plus some other constant times its risk.
(Instructions continued)
SPECIAL
CONSIDERATIONS:
For a detailed discussion of the Tektronix 4010 Display Terminal see the
documentation for the "Subroutine display package for the Tektronix 4010
Terminal", VSUB, #36558. This documentation consists of (Technical Report
No.3) "Risk-Return Classes of New York Stock Exchange Common Stocks, 19311967" by William F. Sharpe and Guy M. Cooper (September, 1971). Permission
to reprint has been granted by the authors.
ACKNOWLEDGEMENTS:
Graduate School of Business
Standord University
VRRC, page 2
Derivation of these results can be found in Sharpe (7).
While the model provides important insights into the nature of actual capital markets, it is of limited
value for the selection of an investment strategy unless additional specifications are made concerning
the stability and/or predictability of key measures.
A nllmber of investigators have performed tests of such expanded capital asset pricing models. The
original specifications are augmented with assumptions about the stability of key variables through
time. The expanded models suggest (1) that measurement of values during some previous period can be
used to implement strategies that will in fact differ with respect to both risk and expected return;
(2) that high-risk, high-return strategies will return more on the average than low-risk, low-return
strategies; and (3) that high-risk, high-return strategies will bring greater losses in bear markets
(i.e., have more risk) than will low-risk, low-return strategies.
An extensive study of this type was performed by Black, Jensen and Scholes (1). They were concerned
primarily with testing the validity of an expanded capital asset pricing model, and less directly with
assessing the performance of alternative investment strategies. In this paper, the general approach
of Black, Jensen and Scholes is followed with modifications designed to reduce its expense as a practical
investment selection technique. Moreover, we report information particularly relevant to the selection
of such a techni que. Our focus is primari"ly on assess i ng a lternati ve i nves tment s trategi es; by and
large, we bypass issues concerned with the adequacy of various expanded capital asset pricing models. 1/
Performance Measures
For any single period, a relevant measure of performance from the investor1s point of view is return:
ending value + dividends - beginning value
return
beginning value
For securities, return can be calculated on a per-share basis, with appropriate adjustments for stock
dividends and stock splits.
A related measure is appreciation:
ending value - beginning value
appreciation
beginning value
The other component of return is yield:
dividends
yield
beginning value
Obviously:
return
~
appreciation + yield
The data used in this study were taken from the CRISP (Center for Research in Security Prices) tapes
developed at the University of Chicago. Monthly returns and appreciation figures for all New York
Stock Exchange stocks over the period from January 1926 through June 1968 were utilized.
Performance over a number of periods can be measure by the average return. Let Rpt represent the return
on a portfolio of stocks in time period t. The average return from period 1 through period Tis:
average return
(where
L
1
T
= -y- L
Rpt
t=l
denotes summation)
An alternative measure of performance is the geometric instead of the arithmetic mean. The result indicates the constant return in each period that would have provided the same terminal value as the actual
series of returns.
The value is:
equ iva 1ent cons tant return =
(where
IT
~~=l
denotes multiplication)
(1 + Rp]t
~.
- 1
VRRC, page 3
Risk can be measured in a great many ways. We focus on a measure that highlights the impact of swings
in the market on the return from a security or portfolio. If there were no prospects of bear markets,
therl: would be little risk in the common meaning of the term. Stocks are considered risky because they
can 90 down. And typically, the more sensitive a security or portfolio is to swings in the market, the
more it goes down in a bear market. To measure this, we use the slope of a regression line relating
return on the portfolio to the return on a broadly-based portfolio used to represent "the market."
Figure I provides an illustration.
Return on Portfolio
or Security (R )
P
Return
----------------------~~~------.~.--------------------------------- on the
"market"
(R )
m
FIGURE I
We
tE~rm
the slope of such a line "beta." More formally:
2/
Cov (R p ' Rm)
Var (Rm)
Rp
average return on portfolio p
Rm
average return on the market portfolio
VRRC, page 4
For purposes of this study, the Fisher market index included on the CRISP tape was used to measure Rm'
It is important to recognize that beta may not provide an adequate measure of the total risk of a
portfolio. However, for well diversified portfolios, the majority of the variation in return is
attributable to changes in the return on the market, and beta will thus provide a good measure of risk.
Risk-Return Classes
In an efficient market, one rarely gets something for nothing. If investors prefer high average returns
to low average returns and prefer low risk to high risk, prices should adjust so that the best low risk
strategy provides lower-returns on the average than the best high risk strategy.
The average return of a portfolio is simply the weighted average of the average returns of its component
securities, with the proportions of value used as weights. Moreover, the beta of a portfolio is a weighted
average of the betas of its component securities, with the proportions of value used as weights. Finally,
the beta of a well-diversified portfolio provides a good surrogate for its total risk, since almost all
fluctuations in the portfolio's value will follow market swings.
A well-diversified portfolio with a high beta value will be risky. In an efficient market, it will also
provide a high average return. A portfolio of this type may be constructed by choosing a large number of
stocks with high beta values. Such a strategy should provide high returns on the average, but with
substantial risk.
A well-diversified portfolio with a low beta value will have relatively little risk. In an efficient
market, it will also provide a relatively low average return. A portfolio of this type may be constructed by choosing a large number of stocks with low beta values. Such a strategy should provide
relatively low returns on the average, but with little risk.
In a period in which the market goes up, high-beta stocks will go up more than low-beta stocks. Unless
divided yields are strongly inversely related to beta values, average return and beta will thus be
positively correlated over periods in which the market goes up. And since both history and expectations
of risk-averse investors indicate that the market is more likely to go up than down, over long periods
average return should be positively related to beta.
Stocks with high beta values should have high returns on the average; they may be said to be in a high
risk-return class. On the other hand, stocks with low beta values should have low returns on the
average; they may be said to be in a low risk-return class.
To use this relationship as a basis for an investment strategy, some means must be found to select stocks
that will, in fact, have high beta values in the future. An obvious possibility involves the measurement
of beta in the past, on the assumption that beta is reasonably stable over time. This procedure was utilized by Black, Jensen and Scholes and will be adopted here, with minor modifications.
Market Sensitivity
To measure performance it is important to use return -- i.e., app~eciation plus dividend yield. However,
most variation in return is due to changes in appreciation; dividend yield being relatively constant over
time. This suggests that the value of beta would not change significantly id dividend yield were excluded. To avoid confusion, we continue to use the term "beta" for the slope of the regression line relating the appreciation on a portfolio or security to that of the market. Figure II provides an illustration.
VRRC, page 5
Per cent Change in the
Price of the Porfolio
(or Security)
----------:--":;:I",..c:;----t---------------,-
Per Cent
Change ir.
the Value
of the
market
portfolic
FIGURE II
To compare the two measures, the monthly returns and appreciation values for 1572 securities during the
period from January 1960 through June 1968 were utilized. For each security the value of beta was calculated using returns; then the value of market sensitivity was calculated, using only price changes.
The changes were very similar. If each of the 1572 pairs were plotted, the points would lie almost
exactly along a 45-degree line through the axis, as illustrated in Figure III. The similarity of the
two measures is clear from the results obtained when the values of beta were regressed on the values of
market sensitivity. The regression equation was:
Beta
=
.004 + .997*(Market sensitivity)
Coefficient of determination' (R2) = .996
VRRC, page 6
Beta
Market
Sensitivity
FIGURE III
This suggests that as a practical matter, market sensitivity may be used instead of beta when classifying
securities into risk-return classes. Since dividend information may be difficult to collect and verify,
this makes it possible to lower the cost of implementing strategies based on risk-return classes.
Portfolio Selection Strategies
We have determined the outcomes obtained from each of ten investment strategies during the 37-year period
from 1931 through 1967. For each security listed on the New York Stock Exchange, market sensitivity was
calculated, based on the monthly price changes for the 60 months prior to the beginning of the investment
claendar year (a security would not be included if a full 60 months of data were not available). The
number of securities for which market sensitivity was calculated ranged from 478 (in 1931) to 985 (in
1967).
After the market sensitivity values were calculated, the numerical values were ranked.
ranking, securities were divided into deciles. The securities in the top decile (i .e.,
highest market sensitivities) were considered to be in risk-return class 10 at the time
The securities in the next decile were considered to be in risk-return class 9, etc . .
securities in a given risk-return class ranged from 47 (in 1931) to 99 (in 1967).
Based on this
those with the
of classification.
The number of
This procedure -- calculation of market sensitivities, ranking of securities, and assignment to riskreturn classes -- was repeated for each of the possible investment years from 1931 through 1967.
Strategies are numbered from 10 to 1. Strategy I involves the purchase of equal dollar amounts of all
stocks in risk-return class I at the beginning of each year. Every dividend received during the year
is reinvested in the stock that pays it (at the beginning of the month following payment). On the first
of the next year, stocks are bought and sold until the portfolio contains equal dollar amounts of all
stocks in risk-return class I at that time. Rebalancing is thus required both to accomodate changes in
the set of stocks in the specified risk-return class and to account for differential price changes.
To reduce the number of computations, the results have·not been adjusted to account for transactions
costs. However, these are relatively small and differ little among strategies since annual performance
measures are being considered and rebalancing is done only once each year.
Performance
Figures IVa through IVd show the results obtained when each of the ten strategies was followed over the
entire period studied (from 1931 through 1967). Figure IVa shows the average annual return for each
strategy. On the average, strategy 10 provided a return of over 22 per cent per year, while strategy
1 provided less than 12 per cent. Although the values do not decrease uniformly, the general relationship is of the expected type -- portfolios composed of securities in lower risk-return classes tend to
provide lower average return.
VRRC, page 7
Figure IVb shows the actual values of beta for the ten strategies. Returns obtained with strategy 10
moved 42 per cent more than the market as a whole; on the other hand, returns obtained with strategy 1
moved only 58 per cent as much as the market as a whole. Again, the values do not decrease uniformly,
but the general relationship is of the expected type -- portfolios composed of securities in lower riskreturn classes tend to move less with swings in the market. 3/
Figure IVc shows the equivalent constant annual return for each of the ten strategies. Here the picture
is far less clear. The investor concerned ~ with the very long run (in this case, 36 years) must take
into account the impact of both risk and average return on his overall position. When returns vary, the
geometric mean will always be smaller than the arithmetic mean, and the difference will typically be
greater, the greater the variation. High risk-return classes typically offer a higher average return but
also bring greater variability. The net effect over the very long term is thus relatively unpredictable.
In this case, the best results would have been obtained with strategy 7. An investor who reinvested both
capital and dividends every year while following strategy 7 would have accumulated as much wealth at the
end of the period as if he had placed his money in a bank paying roughly 16 per cent interest per year,
compounded annually. On the other hand, an investor following strategy 1 would have accumulated only
as much wealth as if he had placed his funds in a bank paying roughly 10 per cent per annum, compounded
annually.
Figure IVd summarizes the relationship between average return and the actual value of beta for each of
the ten strategies during this period. As expected, the relationship is positive and quite significant
(during this period the market rose on the average). The intercept is somewhat higher than the return
on relatively safe investments during the period -- a result consistant with that of Black, Jensen and
Scholes -- and the relationship appears to be approximately linear. 4/
Figures IVa, b, c, and d were produced using the Tektronix T4002 display and the Hewlett-Packard 2000C
computer at the Stanford Graduate School of Business. Users of this system can obtain results for any
other period between 1931 and 1967 by calling for program $GRCC and running it. The program will give
instructions, request the starting and ending year, and then provide the four graphs. By and large, the
results will prove consistent with expectations. When the average market return is large, high risk-return
classes tend to provide higher returns on the average than lower risk-return classes. Finally, the shorter
the time-period studied, the less the results conform to expectations due to the influence of other factors.
Changes in Risk-Return Classes
The investor who holds a well-diversified portfolio need not be unduly concerned about the possibility
that one or more of his stocks may move into a different risk-return class in the future. Some of the
securities that were formerly in risk-return class 5 may move to class 6 (or 7, 8, 9 or 10), while some
of the others may move to class 4 (or 3, 2, or 1). But the effect on the total portfolio may nonetheless
be negligible, as securities moving to higher classes can be offset by those moving to lower classes.
Putting it somewhat differently: it is easier to predict an average (i .e., the portfolio's beta) than
the value of any single component (i .e., a given security's beta).
But changes in risk-return class membership are not unimportant. They give rise to transactions costs
for the strategies described here. They are particularly relevant for those who do not (and perhaps
cannot) hold well-diversified portfolios -- e.g., corporate officers. And they are important when riskreturn class membership is used to estimate a firm's cost of capital.
To provide some evidence on such changes, the risk-return class of every security was determined for every
year between 1931 and 1967 in which price and dividend data were available for the preceding 60 months.
The risk-return class in each year was compared with first the class in the succeeding year, then the
class five years hence. While the first comparison uses 48 months of common data, the second involves
no overlap at all. Over 27,000 combinations were used for the first set of comparisons, and over 24,000
for the second.
Tables I and II summarize the results in transition matrices. For example, Table I shows that 74.2 per
cent of the securities in risk-return class 10 in year t were still in risk-return class 10 in year t
+ 1. Table II shows that only 35.2 per cent remained in risk-return class 10 in year t + 5. 5/ Table
III provides another surnmary, indicating the frequencies with which securities were in the same riskreturn class or within one risk-return class one and five years later. As this Table shows, there is
substantial stability over time, even at the level of individual securities. For portfolios, of course,
the relationship would be considerably more stable.
VRRC, page 8
Figure IVa. Average Annual Returns 1931 through 1967
STRATEGY
I
10
I
9
20 • .. s
I
I
12".
1
26
7
21.,7
I
I
I
s
18.+9
.
1
3
r
2
1
1
Figure IVb.
19.13
18.88
H.99
1+.63
11.58
Beta Values 1931 through 1967
STRATEGY
I
19
,I
9
8
6
I
I
5
3
2
I
I
I
8.76
B.65
B.58
I
1.18
1.1+
I
7
1
22.G7
1.08
0.98
1.8"
.
1.2
VRRC, page 9
Figure lVe.
Equivalent Constant Annual Returns 1931 through 1967
STRATEGY
1
10
1 +.52
1..·
9
21
1
s
1 +.79
7
1
I
6
15.B+,
13.0
S
1
15.0S
1
+
1
I
3
2
\
I
.1
12.1+
12.""
9.89
Figure lVd. Average Return Versus Beta 1931 through 1967
AVG RETURN
o
'--_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ B£TA UALU£
AUG RETURN
DONE
5.53651 +
12.7iS5S08£TA UALU£
VRRC , page 10
Security Data
Table IV shows the risk-return classes of all New York Stock Exchange stocks that could be assigned
to a class on January 1, 1967. Table IVa includes securities in class la, Table IVb, those in class 9,
etc .. Within a risk-return class, securities are arranged alphabetically (with minor exceptions).
Beside the anme of each security is a list of symbols indicating its status in each year, beginning with
1931 and ending with 1967. The symbols have the following meanings:
*
insufficient data for the prior 60
months to allow classification
9
ri s k-return class 10
8
ri sk-return class
9
7
risk-return class
8
6
risk-return class
7
5
risk-return class 6
4
risk-return class
5
3
risk-return class
4
2
risk-return class
3
ri s k- return class
2
a
risk-return class
Teh performance of simple strategies based on risk-return class memberhsip suggests the usefulness of
data of the type shown in Table IV. The classifications can be used to test investment strategies that
might have been adopted in 1967 or earlier. Moreover, they provide at least some information concerning
current risk-return classes, if the stability shown in Tables II and III is at all applicable at present.
TABLE I
TRANSITION MATRIX
RISK-RETURN CLASS IN YEAR T
VERSUS
RISK-RETURN CLASS IN YEAR T + 1
Risk-Return
class in
year t
Risk-Return class in year t + 1
10
9
8
7
6
5
4
3
2
1
10
.7417
.1712
.0309
.0111
.0054
.0011
.0018
.0004
.0000
.0004
9
.1732
.4989
.2079
.0587
.0240
.0104
.0025
.0004
.0004
.0004
8
.0368
.2122
.4091
.2094
.0765
.0232
.0111
.0029
.0021
.0007
7
.0121
.0657
.2286
.3564
.1986
.0804
.0271
.0079
.0025
.0007
6
.0043
.0199
.0733
.2246
.3452
.2060
.0744
.0231
.0075
.0018
5
.0047
.0097
.0222
.0764
.2141
.3535
.2123
.0696
.0147
.0047
4
.0007
.0018
.0111
.0314
.0806
.2168
.3807
.2043
.0478
.0093
3
.0000
.0018
.0025
.0096
.0268
.0686
.2082
.4268
.2068
.0321
2
.0000
.0004
.0011
.0036
.0075
.0196
.0538
.2089
.5091
.1843
1
.0000
.0004
.0004
.0014
.0018
.00ll
.0093
.0323
.1869
.7471
VRRC, page 11
TABLE 11
TRANSITION MATRIX
RISK-RETURN CLASS IN YEAR T
VERSUS
RISK-RETURN CLASS IN YEAR T + 5
Risk-Retum
class in
year t
Risk-Return class in year t + 5
10
9
8
7
6
5
4
3
2
1
10
.3517
.1929
.1153
.0568
.0494
.0373
.0203
.0120
.0083
.0079
9
.2<;>51
.1835
.1487
.1272
.0808
.0601
.0414
.0228
.0116
.0128
8
.1324
.1593
.1638
.1303
.1047
.0890
.0612
.0393
.0219
.0149
7
.0794
.1310
.1579
.1327
.1186
.1083
.0~)30
.0583
.0310
.0149
6
.0523
.0977
.1121
.1343
.1389
.1195
.1137
.0820
.0445
.0293
5
.0423
.0647
.0855
.1041
.1361
.1361
.1448
.1112
.0763
.0336
4
.0326
.0491
.0759
.0994
.1106
.1254
.1320
.1448
.1023
.0611
3
.0203
.0289
.0488
.0715
.0951
.1146
.1286
.1588
.1584
.1084
2
.0087
.0161
.0268
.0384
.0499
.0771
.1139
.1630
.2145
.2314
1
.0042
.0087
.0104
.0203
.0303
.0419
.0722
.1133
.2183
.4047
TABLE III
Risk-Return
Class in
Year T
Proportion in Same
Risk-Return Class
In Year t + 1
In Year t + 5
Proportion Within One
Risk-Return Class
In Year t + 5
In Year t + 1
10
.7417
.3517
.9129
.6927
!
9
.4989
.1835
.8800
.5373
8
.4091
.1638
.8307
.4534
I
I
7
.3564
.1327
.7836
.4092
6
.3452
.1389
.7758
.3927
5
.3535
.1361
.7799
.4170
4
.3807
.1320
.8018
.4022
3
.4268
.1588
.8418
.4458
2
.5091
.2145
.9023
.6089
1
.7471
.4047
.9340
.6230
I
I
I
I
VRRC. page 12
Table IV. Risk- Return Classifications
for NYS E Stocks, 1931 -1967
(See article by Sharpe and Cooper in this issue)
TABLE IVa. Risk-Return Class 10
1935
AMP IncOlporated
Admiral Corporallon
Alleghany Corp.
Allied Products Corp.
Alslde Inc
Amencan Expon Industlles Inc
Amencan Research & Development Corp.
Amencan Ship BUlldtng Co.
Canteen Corp
Bell & Howell Co.
Boston &Mame Corp
Braniff Allways
Bullard Co.
Calumet &Peela Inc.
J I. Case Co.
Cemeo Insuuments
Cerro COIP
Certatnteed Products Corp.
Cessna Aircraft Co
Chicago &Eastern illinOIS RR
Chicago & Great Western Ry lOell.
Chicago Milwaukee SI. Paul & Paclitc
Chicago Rock Island;' Pacific Ry
Chlls·Cralt Industries, Inc.
Servellnc
Colltns RadiO Co.
C.E and I. Steel Corp.
Colt Industlles Inc.
Commercial Solvents Corp
Congoleum Naim Inc
Conttnental Airlines Inc.
Continental Copper &Steel Industnes
Copper Range Co.
Dtners Club Inc.
Douglas Aircraft Co. Inc
Eastern Alrltnes
Elgin Nallonal Watch
Elle Lackawanna Railroad Co
Evans Products Co. Del.
Eversharp Inc
Fallchlld Camera and Instruments
Fansteel. Inc
Federal Paclitc Electric Co.
Fllst Charter Financial Corp
Fluor Corp ltd.
Foote MlReral Co.
Gar Wood Industries
General Instrument Corp.
General Relractones Co
General Time Corp
• Hoffman ElectroRics Corp.
I T ECirCUli Breaker Co.
Indiana General Corp.
Internallonal Rectliter Corp.
Interstate Department Stores Inc.
Joy ManulaclUnng Co.
MISSOUII Kimsas Tells RR
Leesona Corp
lionel Corp
Lukens Steel
MCA Incorporated
SOD LIRe RR
Monon Railroad
Nallonal Airlines
New York Cenual RR
'40
'45
'50
'55
CLASS 10 Icont'dl
'60
'65
99
7554 54899 99999 99
9 99999 99999 99999 98999 99999 99999 99
554 99
9
122 21223 23555 34788 99
9
001 12233 44452 11100 00012 21432 33889 99
1233 22233 54999 99
65324 5455" 78999 99
44 56689 99999 99999
6
8 76777 77762 56689
46788 87767 88874 45344
88755 54233 45557 65433
99999
78899
87773
67899
57788
99999
99998
11599
99989
87657
88999
89999
99999
88888
78899
43676 66523 44432 22133 46889 99999 99899
78688 88997 77789 98998 89989 97543 4899
9999
9999 98899 99887 88999
9999 99999
99999
76
77799 99986
5 55764 44437 66667 89887
99888
50355
7543
76322
88899
56758
33245
11132
98885
99998
56666
33334
57788
77733
66667
34443
4374 43342 32211
3 22122
57888 87669 99956 77/77
9 98989 99998 88899
99999
54335
78999
32222
99999
99999
66888
42334
66455
98989
98999
88888
56999
99998
43799
99889
22578
88999
99999
99999
89988
9
987 77888 99
64688 89
99
999 99
899 99
99999 99887 89
78899 99999 99
75655 66999 99
77789 999 9 99
78 88997 88767 66788 78856 52333
6665 53446 66755
77977 88689 88999 99999 99999 99999
233
98998 98968
55~68
89
99
89
99
99
99
99
99
99
99
9
8774 44566 89
9 99999 98899 99
9 99
14458 88862 24999 99
13677 88778 88899 99
123 58899 99999 99
88899 97999 99999 99
99998 88999 99988 89
6642 01233 56999 99
677 78887 88999
577
55789 88878 88885 66766 77678
2257 77654 53346
21444
78~99
9
99
99
89
99
9
99
99
99
99
78999 99
788 89
99
9
14799 99
65788 89
88889 99
9
57999 99
98899 99
99
8 88789 99998 78999 99
9999 99997 64999 99
67889 89998 88877 79
89988 888 77 89~~9 999~j9 9~98g 99
19351 '40
'45
'50
'55
'60
'65
5678 76789 99999 99999 99
443~7 18161 89999 99
T 99999 98999 99999 99
8 79
6 65444 46788 88i'76 77999 99
Northwest Aillines
Philadelphia and Readtng Corp
Northwestlndustnes
Packard Bell Elecuontcs Corp
Pan American World Allways Inc
5654~
Penn Central
Piper Aircraft Corp
Pittsburgh Steel
Plough Inc
PolarOid Corp
ReadIRg Co
Reynolds Metals
Roan Selection Trust, Ltd.
Ryder System Inc
SCM Corp.
11433 44245 66675
Seagrave Corp
Sparton Corp
Standard Kollsman Industries
Standard Packagmg Corp
Standard Pressed Steel Company
Rexall Drug and Chemical Co
Worthington Corporalton
Sunshme Mintng
Telautograph Corp
ThlOkol Chemical
14877 77533 43363 88853 56477 64589 89999
9 99998 88888 99999 99999 89999 99999
6689 99999
99
43 44457 57788 87755 54256 77999 99
99666 65678 88875 55478 89988 67777 87778 89
127 89981 78778 85781 78557 89
11 000 00110 11125 44568 9998~ 33699 9999 99
9 99
Trans World Airlines Inc
Transitron ElectroRic
United Aillmes Inc.
US Industries Inc
Perfect Film and Chemical Corp
UMC Industlles
Vendo Co
Western Maryland Ry
White Consolidated Industrtes Inc
56545 65433 35799 99888 88999 99
99
5 5554G 44434 45788 99988 87888 89
88999 99899 99998 78889 99999 98889 99999 99
98765 31122 03788 99
9 99
99
88977 77458 99899 99998 99999 99977 87999 99
788 78778 88888 88899 87646 88989 89999 99
67788 88898 88989
999
997 8999999999 99998 99899
0001 11212 56999
77
11655 56336177 786 56533 43344 4456~ 46889
33424 45668 87899 89989 99999 99999
46656
99
99
99
99
89
99
89
69
99
346 56544 68887 63778 99999 99
99
99
99
89
9
TABLE IVb. Risk-Return Class 9
ABC Consolidated Corp
Adams Millis
General Bronle Corp
AlliS Chalmers Manufacturmg Co
Amellcan Atrlines
Ambac Industries, Inc.
Amellcan Photocopy EQUipment Co
Ampe. Corporalton
Amphenol Corp
Armour &Co
88
88
88
78
78
88
78
8 78
998 98
70355 47856 77777 77789 98888 78877 76787 88
I
1 11111 11101 01212 10012
7 66667 87767 67876 64353
66665 55434 33454 45556 77 765
3 23233 33457
98444 43688 77778 88898 99898
I
21
33222
46667
56666
78788
76643
25788
64888
77766
65567
88777
78888
Arthur G. McKee Co
ASSOCiated Brewmg Co.
Avnet.lnc
Bausch &lomb Inc
Beckman Instruments
Beech Atrcralt
Bellinterconttnental Corp
Dlvco Wayne Corp
BrunswICk Corp.
Bucyrus Elle
78
22213 53223 23332 10879 99876 58
8
76 78
9999 98
12 33218 88876 86676 68
764 32246 87533 45888 88
452 13225 54776 78
65677 77875 55436 66666 66665 76434 20554 78
77 77867 76664 66666 65768 77 788 89988 88
Burndy Corp
Burroughs Corp
The Marquardt Corp
Carlisle CorD
Carter Wallace. Inc
Chadbourn Gotham. Inc
Chemetrun Corp
Ctty Investing Co
Conelco. Inc
8
34333 33422 22245 66554 33213 67877 67677 88
88
88
887 b8
56433 33488 88877 757/6 58189 88799 9 99 Yb
7 334J4 5~4~4 7J~44 ~6[J88 88
UUU UUUUU OOUUO U4b/B 14j4~ ~8BBb ~B8HB blj
95477 67998 89888 88899 8BAAR 99997 76777 18
CJe~celit LUJ~
L~,4
33 ' lJll Llli!:U bH
VRRC. page 13
CLASS 91cont'I11
19]5
Crowell Collier & Macmillan. Inc
Curt.lh, Corp
LurtlS Puhlishmg Co
03yco Corp
Chamlliam Nalional Cor!J
Walt Disney Productions Inc
Duplan Corp
Eastern Stamless Steel Corp
Eltra Corp
EndICO" Johnson Corp
Mrnerals & Chemicals Philipp Corp
Factor IMax) and Co IAI
Falrchrld Hiller Corp
Financial Federation. Inc
Flollda East Coast Rallwa" Company
Vanadium Corp 01 Amellca
Foremost Dailies. Inc
Foster Wheeler
FOlbord Co.
General PrecISion Equlpmllnt Corp.
General Signal Corp
Grnn and Co.
Glen Alden Corp
Granby Mlnrng Co. ltd.
Great Western FrnanClal Corp.
Harvey Alumrnum. Inc.
H. J Hernz Co
Helene CurtiS IndUStries. Inc
Hertz Corp.
Hupp Corp.
IPl.lnc
IRC,lnc.
Jaeger Machine Co.
Kayser Roth Corp
Spartans Imyers, Inc I Newl
lanvrn·Charles 01 the Ritz, Inc.
lear Siegler Corp
lillon Industries
lowenstein, M &Sons
McCall Corp
Metro·Goldwyn·Mayer, Inc:
loews Theatres, Inc.
Moore & McCormack Co.
Motorola, Inc
North Amencan Coal Corp.
Parke DaVIS
Plllsburgh Coke &Chemical Co
Revlon, Inc.
Ronson Corp.
SI. lOUIS San FranCISco Ry
Imperial Corp 01 Amellca
Schenley Industries, Inc.
Schick ElectriC, Inc
Sharon Steel Corp
A. O. Smith
Wagner Electric Corp INewl
relas Gulf Sulphur
Telas Instruments
Gelly 011 Co
Twentieth Century Fox Film Corp
ling·Temeo Vought. Inc
U.S. Borax & Chemical
U.S. Freight
US Smelting Relining and Mining
Ward Food~, Inc
Warner lambert
Western Unron 1elegraph Co
Xerox Corp.
'40
OoUll 1121]
'45
'50
'5560
444~~ ~6768
88899 9999B
J 44~46 67899 99999 99987 11237
8888 87666
11333 34378 99999 987~4 ~~~77 h666
3 34211 1112~ 67787 734~6 57777
9 99999 99999 99999 99999 99999
50~6
00111 11112 22230 01111 10011 21000
'65
A 98
9999!1 93
{68ll 88
47888 88
~~6~7 88
99 88
86656 ~8
99999 98
68899 98
11467 88
88999 98
8
998 89778 88
8
8
99876 65568 88885 67788 88889 99999 98767 88
21456 68
7 76788 88888 77889 99998 89966 75677 78
8
3236 56765 76534 35778 77898 98
23654 55368 88887 77877 77476 55877 88888 78
8
4533 66899 78
77788 77798 99866 68788 86765 67889 87555 68
98
8
000 00113 35888 88
8
66565 55534 34679 99823 n233 34543 22655 68
98556 66897 54468 99999 99999 99999 99988 78
34466 87877 78
88
23544 44211 10024 56655
366 67688 77 77 7 88
66599 99999 98
389 98
34~65
8
98 88
888 88
8857 65899 88776 88
011112122212 1135445434434536799988
66544 48221 22213 22221 12215 65765 68888
8
4565 54543 34567
3354 44435 77899
88
88
78
88
8
0111101100000125422 32787 78
997 77777 88899 98887 77656 78
999 98
242 11223 26888 98
999 87999 99766 78
9 88
7
23322
9999
68999
22 34456 65677 34446 87566 78888
999
77887 77777 87777 88999 97888 89999
6677 77799 89976 78857 76787
657 86887
211 02 21121 10011 13345 65677 78866
99899 99984 36778 99886 124~7 87888
33 33346 75445 45764 ~/888 88888
99742 22237 66453 34434 44~7 77788
88
98
98
78
88
78
88
88
98
78766
788
78777
68554
'45545
45899
88988
78
88
78
78
68
98
88
5 54557 89998 88744 55667 76776
42232 22173 34443 44443 46678 88888
99888 17877 76789 99988 02110 0233
7632
01565 665~8 88885 33345 78887 6687
I
8
TA,BLE IVe. Risk-Return Class 8
Morrell, John and CO,lnr..
AeroqUlp Corporallon
Alcan Aluminum, ltd.
01°1"2122230101000 110013
r66781;~:~~ I~~
~7876 65567 77
CLASS 81cont'dl
1935
60
6:
I
Amellcan Brnadcasling Paramount
Amellcan Enka Corp
Anaconda Co
ArVin Industrres.lnc
Baltimore It. OhIO RR
BasIc. Inc
Baxtor laboratorres. Inc
37998 88775 55535 44544 j333:, 67788
F.;:~~
t
S~~~~
:5-
BlawKnox Co.
Fram Corp
Bigelow Sanlord. Inc
Bltss. E W
Budd Co
Bulova Watch
Carborundum Co
Celanese Corp
Chemway Corp
Crncrnnall Mlllrng Machrne
Cleveland Chlls Iron Co.
Clevlle Corp
Combustion Englneellng, Inc.
Cooper Tile & Rubber Co.
Cnrnrng Glass Works
CrUCible Steel Corp
Delta All lrnes, Inc.
Detroll Steel Corp
Diamond Shamrock Corp.
Diana Stores Corp
Oxford Paper Co.
Flltrol Corporation
FMC Corp
Food Giant Markets, Inc.
General DynamiCs Corp.
General Tile &Rubber Co.
Georgia Paclhc Corp.
Warner Brothers Pictures, Inc.
Grace. W R. &Co.
Grand Unron Co.
'40
'45501
55
67987 87456 56551 22233 35678 ~9988
34455 65433 33332
8~:ft
3~6
7 -
';
8i
87
7
44556 77788 87777 89987 65668 99888 87
7
666 66554 33456 65566
7745
8 88967 77788 99999 99887
5 55875 55535 33344 55553
66788
67999
67888
31357
54
99966 77756 66576 75647 67799
3245 55566 77 776 44456 58466
5451 20225
88766 67
9938E 77
888~7 i7
77665 F7
5~~5E 67
999B8 87
64 i' i7 77
45566 77
77
55532 22344 43335 57778 87787 77
33467 77776 66743 33354 57656 75355 57
87
23423 36645 63788 77
23455 55668 38875 45467 89999 99999 99558 87
788 77
799 99999 99999 87
656 76617 67
4 43110
2133 4432
24
87667 76786 55565
667
10132
42344
66655
86788
76
23434 47566
45678 75333
66666175531
89999 99867
9 99998
1678 87
66666 67
3245 67
76667 77
5/ge~
87
22556167
87999187
84777177
99 9775 4435 67754 11112 33434 52575 17
43 7793- 7
66445 6785 4334 53566 66633 34322 4899 7
Great Nonhern Paper Co.
Unrversal Amencan Co.
Gulf, Mobile &Ohio R.R. Co.
Paul Hardeman, Inc.
Hat Corporation 01 Amellca
Hewlett Packard Company
Hotel Corp of Amenca
Insprratlon Consolidated Copper Co.
Internallonal Business Machrnes Co.
International Minerals &Chemical Co.
5455
64789 99997 77788 99999
5 55667 8B888 78BBB
8 87955 56665 66767
6
55567 66689
99898177899
B8778 199863
64353124568
67678 77
87734 67
98545 57
33577177
87866167
57777
77871
22110
66988
37799,99999
67899 !99989
11232 i35444
66654144433
89866
8ge88 177
42677177
5566 77
International Silver Co.
Rayonrer, Inc.
Internallonal Telephone & Telegraph
Jones & laughlin Steel Corp
Kendall Company
Kerr McGee Orl
KlM Royal Dutch Airlines
Mack rrucks, Inc.
Magnavox Co.
Mallory, PR. and Co.
444 43455 66655 33466 66545 56775 68677177
97 76578 76667189999 9977 7 '167
68887 71644 33458 88788 99999199876 76888 87
5677 88899 99987 88899 '87
8 87
9898 87
344 87
56333 32346 66651 13466 88989 88877 88887 77
5
7596 42436 79999 97
776 77
Mays, J W., Inc.
McDermott IJ. Rayl &Co.
Mclean Trucking Co.
McNeil Corp.
Mohasco Industries, Inc.
National Acme
National Can Corp.
National Steel Corp.
Newmont MIlling Corp.
Oltn Mathieson Chemical Corp.
Outboard Maline Corp.
Owens Corning Fiberglass Corp.
Pan Amencan Sulphur Co.
Perkin Elmer Corp.
Shattuck, Frank G.
Pfizer, Chas. and Co.
Pmson Co.
88887
71478
11000
8998
77768
99876
0000
B8897
86645
67666
00001
88777
7~
97
99 87
23 57
7
88777 77868
11 11125
5523
54332
2224
4458 99999 99988 87
78772 44456 77776 778B8 87666 i67
7786 67789 99999 98753 46565 iS7
334221111 123368887664678111
6567 77887 78878 87677 167
4453 35454 44556 16777 75677 !/7
213 23223 32220 00113 3545 67
567 5777 77
77
7
5323
2232 2124
5653 22223 32111 2677 7
6 75544 33233 5777 177
7786 78B89 8898 9987 9888 ~7
VRRC,
page 14
1935
CLASS 8 Icom'dl
'40
'45
'50
Relchhold Chemicals
Rheem Mig
Ritter PI Judler C:lrp
Robertsha .... Conllols Co
St Regis Paper
Sun Chemical Corp
Sunstrand Corp
Superior 011 Company INev I
Texas PaCIfic Land Trust Cert
NatIOnal General
Varian Associates
Victor Comptometer Corp
Wallace and Tiernan, Inc.
Western Air Lmes
Westinghouse ElecHic Corp
RadiO Corp of Amellca
Wheeling Steel
White MOIor
leOith RadiO Corp
'5S
'60
9988
988~i~
'6
67 76664 43468
3 32243 37722 57767 S3443 22777
5~ 6S776
988 89887
54473 34445 66676 46544 65677
•
89 77841 43446
88654 44333 43343 46S35 63478 88787
333
88
99999
22567
7ll1B
86878
67666
S6
66787
78888
3S677
87
87
67
87
77
67
77
87
77
67
7 77
77644 44333 33322
99877 765~14 45568
7778 88886
178 88875
8 88898 77757
12233
88866
66688
56788
55656
467 76899 99986
8
78899 99975 66778
44543 45434 41345
56644 68788 76777
99999 98888 88777
88886 33446 88888
67542 43346 88999
77
77
77
57
67
87
77
87
TABLE IVd. Risk-Return Class 7
A J Indusllles. Inc
Addressograph Mulugraph Corp
Allegheny Ludlum Steel Corp
Alpha Portland Cement
Amerace Corp
American Consumer Industries, Inc
American Metal Climax, Inc
Armstrong Cork Co.
Atlas Chemical Indusllles, Inc
Atlas Corp.
72000 00000
11121
55646
4 44633
01247
11112
77763
33213
87755
35566
46777
32243
34357
55423
88888
23423
11023 33742 22148
56999 99843 33324
34446
43343 34433 43321
124
88973
56677
43333
12222
67744
22100
75665
22331
34576
22231
76765 55333 46
45778 84654 56
89989 98788 86
55566 5554~ ~5
444 56
00114 31131 36
79888 77555 56
22112 31566 56
78778 77877 76
22245 67655 46
64454
99999
78887
46677
99985
1935
CLASS 7 (cont'dl
89977 B7
77
4447 6S673 48778 87
PlibilckCllnduSII,es
Ha~mund International, Inc
Reeves Ilruthers
Bates Manufactullng Co.IOet!
Callahan Mmlllg Corp
Carpenter Steel Co
Carner Corp
Central Foundry
Central Soya Co, Inc.
Chock Full 0 Nuts Corp
Chrysler Corp
Clark EQUipment
Collms and AIkman Co,
67
97999 99889 99999 99999 99999
670 23345 56767
7765
988 98999 87789
43454
99866
77767
77455
57777
Columbia Pictures
Consolidated Cigar Corp
Cooper Industrres
Copeland Refrlgerallon Corp
Coppelweld Steel
Crane Co
Cutler Hammer, Inc.
Cyclops Corp
Dresser Industries. Inc Del
ElastiC Stop Nut Corp. of Amellca
323 44557 77787 77735 34576 76898 86
32356 67774 54444 44522 22233 51122 25777 66
8 76644 33579 99754 56
76
77666 78899 98999 99988 76
6676 55444 45665 66565 75434 36
66 66665 55655 56676 76655 57768 85342 36
663 45655 45456 78999 99888 86
8887 87777 67754 66678 99986 66555 66
6 75432 02332 56676 66
ElectriC &Musical Industries. ltd.
Emerson ElectriC Co.
Emhart Corp
Ferro Corp
Fhntkote Co
Food Fall Stores. Inc
RuberOld Co
Ne.... York Air Brake
Stanley Warner Corp.
Sheller Globe Corp
5 54222 23559 88755 76666 26767 77875 66
8 99886 66645 57888 86
5644 56
55566 67887 68889 99888 76
6657 65677 67665 64333 44677 66
23466 75544 13121 12677 86
5532 11455 65445 55443 33355 56
14555 55468 88876 56644 6677 66665 44456 66
34 57677 76
2 56
Grant, WT
South Puerto RICO Sugar Co
Harcourt Brace and World. Inc.
Hallis Intertype Corp
Hart Schattrler & Marx
Ha~es Albion Inc
Hllwn Hoteis Corp
Hoo.er Ball & Beallng Co
Houdadle Indus Illes, Inc
HO\J~e"Old frnance
7 11111111110110122 12100 00112 1001i 56
35422 21012 33344 33111 13353 21110 12576 66
6
98888 66
64456 67664 53245 46
888 87675 43311 12466 66
332 11345 55523 66
56
8 88887 78766 66688 77774 42312 23356 66
0002 2000U 00000 00000 00~66 66
8
87676 65534 45433 23355 44442 43434 32366
55676 77763 22344 56677 77889 98655
8687 77887 78877 66776 77899 99765 41432
56
66
76
66
86
56
76
46
56
36
Hurt foods &Industries. Inc
IllinOIS Centrallndustrlcs, Inc
International Mining Corp INe.... l
Sheraton Corp 01 Amellca
Island Creek CoallOell
Jonathan Logan. Inc Del
Kroehlel Mig Co
Lehigh Valley Industries
Manhatlen Industries
Mesta Machrne Co
'40
'45
a16ll;
77668 8H8A~1
ABHlI
1:J3m 7879B B~W9l1
On2 221 01 11230
~7999 99~~W
8 88769 9 9
54544 4~4~3
344 44S41
nn3
'50
'55
'60
'6
86!J1 70107 747B8 76
9~19~lq 9Wlg~1 8RBRA 88666 66
7178/ ~4,1:J~J 13~~4 68878 66
q~~l% ~~~bl 17114 33S45 76
OOOUO a125~ ~6Bb6 17677 66
86
2544 56
99999 99844 20389 7995~ 86
4651:J4 43334 53343 3~676 66
43333 33346 76876 67767 76
Midland Ross Corp
Mmnesota Mrnrng &Mig Co
Montgomery Ward
M S l Industries, Inc
J J Newberry Co
Pitney Bowes, Inc
Pullman. Inc
Raytheon Co
Republic Corp
Revere Copper &Brass. Inc
88766 66667 77544 22232 44435
3433 36656
88765 55344 44433 32223 34433 22243
2 45~76 53343
111001233332111111122
14566
23333 32236 66164 34321 22333 45667
996
0887 76688
9 99999 99887 88899 98886 78788
43343
64677
66766
27899
22677
87888
54434
77888
78766
86433
96
76
86
56
86
76
46
Rex Chalnbelt. Inc.
Rohm & Haas Co
Rohr Corp
Roper Corp
Royal Crown Cola
Sangamo ElectriC Co Del
Schlumberger, ltd
SCOVill Mfg. Co
SClew and Bolt Corp. of America
Signode Corp
1 24466 63323 33456 75655
4 6S545 43666
S 56644
725 43332 33222 23001 13787
33445 35553 211 00 21155
5445 55565
12889 99997 77778 88788 87778 88976 65566
43333 36466
4 54658 89986 88887 57778 64333 35656
63565
56
56
56
66
56
56
56
66
76
56
Smith Khne & French Laboratories
Sperry Rand Corp
Stanray Corporation
Stauffer Chemical Co,
Richardson Melllll, Inc.
Stokely Van Camp. Inc
Suburban Gas
TRW, Inc.
Tandy Corp
T,shman Realty & Constructron Co.
Union Camp Corp
Wilson & Co
Boerng Co.IThel
US. Steel
Vulcan Materials Co
Welb,lt Corp
Wickes Corp
Youngstown Steel Door
56
66
~6
66
86
76
66
76
86
86
44455 55553 45577 87777 67878 77667 76
7899 99979 99999 99887 64334 20233 58756 66
88 86
89988 87564 44444 44566 67667 99989
7766
5
00 00000 00133 31111 23122
687 88898 67766 74666
75343 43447 78887
73222 12357 78887
6 65663
33333 33346 66662
99988 77~22 12110
66666
77778
44533
23345
00000
66776
77778
46667
55667
00012
576
77655
89653
76752
B8887
44657
89989
777
88988
45576
53676
22676
47688
44456 56
32565 56
2200 1 36
76778 76
88787 76
66666 76
6
87 78876 77666 66787 65666 66
TABLE IVe. Risk-Return Class 6
Air Reduction Co .. Inc
411en Industries
Amellcan Home Products
Amellcan Potash & Chemical Corp
Amellcan Seatrng Co
Amellcan Smeltmg &Rehnrng Co
Ametek. Inc
Amana Public Service
ARC Corp
Austrn Nichols
BabbiII. BT., Inc.
Barber 011 Corp
Beaunrt Corp
Bliss &Laughlin, Inc
Book of the Month Club. Inc
Bllggs &Strallon
Ceco Corp
Chicago Pneumatrc Tool Co
City Stores Co
Holt Rinehart & Wrnston
CurtiSS Wright Corp
DeSoto, Inc
Nopco Chemical Co
Symrngton Wayne Corp
33311 11013 33341 13343 34446 65555
767 76555 43434 45532
1100 00010 00000 00122 11111 13323
755
799 99985 55544 33467 77886 66444
66876 66345 66642 23356 56778 89876
78556 65688 88885 67589 99997 54546
64444
11122
42577
56555
36666
77245
78776
45
35
55
65
65
55
65
5
45
98576 65854 55456 43688 88879 87563 67856 45
176
68566 65667 77 776 74544 26716
588
4 32334 12221
88898
85646
87899
50234
0014
3 33232 32212 24567 66652
4~668
77 745
65232
87411
47766
37887
86776
55
25
25
55
85
65
5
77888 88888 88762 45578 88999 99988 75455 45
998 88676 77 768 88888 4100 1 11221 00000 35
55
4 33376 66651 33333
4~569
98975
9!19~ 9997
01245 656lJ 88776
87999 99989 98998 88988 8B888 8B877
I
56455
69881
68887
S54S5
55
75
75
55
VRRC, page 15
CLASS 6lcont'dl
1935
'40
'45
'50
'55
999
22111
3266
89777
99935
10000
66977
66644
56668
00000
78777
45431
2
88899
01111
88899
12344
34566
84300
l1ZZ3
99999
55563
32120
._----+--
OunhllllnternatlOnal. Inc
Easlman Kodak
Fawlck Corp
Eaton Yale and Towne Co
Edison Bros Stores
Engelhard Minerals and Chemicals
Eurofund. Inc
Flonda PO'Her lis Light Co
Fruehauf Corp
Gardner Denver Co.
General Host
General Cable Corp
General Steelindusllles. Inc
Goodnch, B.F
Gould Nallonal Batteries, Inc
Grumman Aircraft Englneenng Corp
'60
'65
00000 05777
4j~44 63444
99977 35443
34446 16454
00123 46766
65
35
55
45
65
65
5
33677
99877
43223
10123
54234
6576
78998 88776 77767 73533 35567 88654 54466
4442 34322 23677
66654 66676 54433 34232
5777
4
0122 22236 75410
89999 99999 99999 99998
76666
22223
00000
78889
34322
57999
56654
00001
99976
55
75
45
45
45
55
55
75
25
Hamilton Watch Co
Hammermill Paper Co.
Harsco Corp
Walter E. Heller Co.
Honeywell. Inc.
Ingersoll Rilnd Co
Interchemlcal Corp
International Nickel Company of Canada
Internallonal Paper Co., N Y
Kaiser Aluminum lis Chemical Corp.
34553 32235 65521 11124 46777 77644 55
898 76533 45
. 5 56455 55
4777 75
1112333333211122 33322 37767 86676 65
34444 44432 33332 10011 23334 45656 43444 55
33 33444 45445 44565 55634 76445 53344 25
88654 44221 11113 24432 33455 66766 65566 45
5566 57876 68766 64555 55
8999 98555 45
Kelsey Hayes Co.
Kennecott Copper
Kern County Land
KlOg Seeley Thermos Co
LOUiSVille and NashVille RR
RH Macy and Co, Inc.
Marlln·Manetta
Masonite Corp.
Medusa Portland Cement
Merck lis Co, Inc.
878 88897 88877 77877 64345 66766 76454 45
45765 65334 33320 12123 33556 78766 54222 35
23 66677 67776 65
3312 22365 65
01655 55235 44442 13333 44455 65566 55344 45
55544 44223 33446 65453 34457 75431 22555 55
443 54566 58676 51201 22454 45
312 22357 88877 68878 86333 35
5 55
3346 67420 10345 55
Monarch MachlOe Tool Co.
Natomas Co.
Neptune Meter Co.
NOrris Industries, Inc.
Nonh Amencan Car Corp
Northwestern Steel lis Wire Co.
Norwich Pharmacal Co.
Petlnc.
Philip Morris. Inc.
Phillips Van Heusen Corp
2 33354 31123 34234 45
00002 33300 00148 99883 4988R 75
3 35
35
5 55
65
11221 23344 65433 20344 45
01111 11100 00012 12211 22244 46778 75
31111 00101 11111 01221 10001 22011 11344 45
22000 11354 44467 76665 53322 56688 88766 65
Murphy (GWllndusllles,lnc.
Reliance Electric Engineenng'
Republic Steel Corp.
Reynolds Tobacco
Rubbermald. Inc.
Ryan Aeronautical Co.
Schenng Corp.
Warren Company
Seaboard Coast LlOe Railroad
Seaboard FlOance Co.
6 74543 25332
666
89999 98768 88774 35566 77778 88876 77877
10000 00000 00003 32100 00001 11 00 1 11565
Sellon, Inc.
SlOger Co.
Square 0 Co
Tootsle Rollindustnes
SWift lis Co
United ~rr.lnc
Textron. Inc.
United Artists Corp.
Transameltca Corp
Uniroyal Corp
United States Shoe Corp
Universal 011 Products
UPlohn Company
WalgreeA Co
Wallace Murray Corp
Walworth Co
West Virginia Pulp and Paper
Whirlpool Corp
Youngstown Sheet and Tube Co
o
3
5
65 64344
99886 54666 66434
22 22111 12455
5530
81756 66330 11 015
11 i21
33333
01134
34423
11112
12111
33122 22234 55555
88999 88755 66668 76655
o
55
55
75
65
45
35
45
65
35
65
9999 85557 65200 15
65
46777 77767 88788 65
44563 20111 03446 75
12321 22112 21233 35
21221 24334 33237 35
89 88875 78665 55
434 45
43433 24354 56777 65
57778 88887 87565 55
11011 12211 10000 00112
99899 99997 88878 88887 77655 65655
67999 9~999 88881 718BB 88BBR BB1J3
5j5~!] 32214 36504
1344 45
8 85
3 45
23555 55
44111 35
46766 45
64656 55
RB1l7 65
24677 77767 77764 34466 7777B 99998 98177 65
TABLE IVf. Risk-Return Class 5
1935 '40 '45 '50' 5
Abdcus Fund
Ace Industries. Inc
Amelican Bakeries Co
Amelican Cyanamid Co
Amellcan DlstlllIOg Co
Amellcan Optical Co
Wesilnghouse Air Brake
American Standard Corp
American Tobacco Co ICom I
Armco Steel Corp
Armstrong Rubber Co
AtlantiC Coast Ltne RR
Avco Corp
Babcock lis Wilcox Co
BendiX Corp
Bethlehem Steel Corp.
Black lis Decker Mfg.
Bobble Brooks
Borden,lnc
80rman Food Stores. Inc
8ur!lOgton Industlles, Inc
Canada Dry Corp
Champion Papers. fnc
Checker Motors Corp
Consolidated Foods Corp
Conllnental Baking Co !Dell
Continental Insurance Co.
ContIOental Steel Corp
Corn Products Co
Crown Cork lis Seal Co, Inc.
DWG Corp
Deere lis Co. Del
Delmarva Power and Light
Dover Corp
Oow Chemical Co
Harbison Walker RetraclOnes Co
Eastern Gas lis Fuel ASSOCiates
Ex·Cell·O Corp
Fenestra, Inc.
Fibreboard Corp
Firestone Tire &Rubber Co
Franklin Stores
Freeport Sulphur Co.
General ElectriC Co
Goodyear TIre Rubber
Grantte City Steel
Greyhound Corp
Halliburton Co
Hazeltine Corp
Hooker Chemical Corp
'6065
87:4 l; ;i-:j'-:-;~~1;~
9999
15677 71779 99984 46161 88B7
6565 55642 22213 2322 12110
445
3 J2446 67773 10078 788~4
23122
45454
00101
8
22346
44554
11000
87656
~66 75
55544
45557 76044
00013 53311
66776 66677
5554
4544
0012
8888
1116; b8~66
OOOOG OOC::
~-l
OOJ.32 Je: -l:
~.!
3~':'
E!
64222
211
~5 789
50b;;
22010
99987
12777 78567 77877 66566 77888 18899
34567 76668 46788 B788 88888
866
98655 55455 56540 02333 44554 55056
55655 66556 55551 22234 57889 99985
553 43344 56543 31434
-l
?236~
.!
4
t' .l.3.! .:!
99644
OG3t)
:-!
75666
4
98422 24
88765 44
~4334 4.!
6S~5~ !.!
44445 64
45356 64
4
11 11111 11010 00011 11100 00011 10455 44
6':
544
5233 33432 22225
5665
3 33599 99998
45666
55565
66566
78889
5467 77996 55546
45544 44332 22211
6653
23211 10000 00000
2 11545 56667
76632
00001
42111
00000
77666
76668
54433
77 775
98817
7654
12223
11101
74578
00110
46766
87787
33222
45434
67899
20002
44344
14222
99988
00001
78577
67443 44
11223 44
32233 44
99988 54
22555 34
55645 44
22456 44
8887; 54
22566154
65665 64
3324 54311 01112 31010 22577
44 44454 66677 66643 32124 54565
o 12111 10233
555
100 01122 34555 55444 54444
123 33556 77775 55443 54556 55432 24661
454
40 22355 45554 45556 56544
2011
3424 42133 23544 33477 99867
23432
65433
887
4
64
44
34
44
34
74
44
44
14
64
23332 22345 55456 67787
21
22114 45561 11123 35566
33223 23332 22122 34532
78555 56667 75644 06688
44468 88888 88888 98999
34445 54332 21111
21
88655 64666 54
10001 12666 74
75~45 65222 34
46540 52222 ::4
89754 53566 5 ~
99999 98777 64
11111 00133 44
22445 46334 44
4
44 78889 87544 44
Howe Sound Co !Dell
Interlake Steel Corp
~P~nnsylvaOla Glass Sand Corp.
Johnson lis Johnson
Kansas City Southern Industries, Inc.
Koppers Co
Lehigh Portland Cement Co.
Leonard Reflnenes. Inc
Libby McNeill and Libby
MacAndrews lis Forbes Co.
34554 44344 55524 55432 22379 99999
2566 77889 89887 78899 999B8 77176
2110 21100 00111 12444
5 56764 44233
56767 77687 78889 99899 88766 66766
55446 67776
44 44654 44323 33432 12245 61554
99865
77433
44344
35455
54344
66334
43455
54
44
34
54
24
54
54
4
55566 54523 23333 45678 77655 54
011 11100 00001 12101 10000 00144 45543 34
Madison Square Garden Corp INewl
Maremont Corp
Malln~ Midland Banks, Inc
McCord Corp
McDonnell Douglas Corp
McGraw Edison Co
McGraw HIli, Inc.
Mead Corp
NVF Co
National Cash Register Co
95555 56787 66679 99999 99998 99999 99854 54
64
22122 11125 65521 11111 21000 01344 44
44445 43211 14
3 34
224 44333 21221 24536 55554 54
12256 66676 56543 21111 24535 53344 44
8886 66166 78888 78653 31343 44
5665 55579 876~4 34
4 34324 43232 33473 456~5 56 ill 64
Hudson Bay MIOIOg lis Smelling Co. Ltd
Northern Natural Gas Co
Northrop Corp
OilS Elevator
15 43222 34476 54533 32000
211 11012 12244
603 45222
44322 22244 44445 55555 43211 25545 54544
34
44
34
44
VRRC, page 16
1935
CLASS 5lcont'dl
Penn fruit Co. Inc
Pillsbury Co
PllIsburgh Forgings
PPG InduSlrles. Inc
Portec Inc
St Joseph lead
'40
'45
'50
'55
'60
'65
110 01100 00013 31 !01 12277 73234 6~7DS 54
77667 888m; 67534 n117 34
2232 34422 21344 44
8 88989 99999 99988 787 J~ 65788 88~32 34
35665 5544~ 555~S 65332 36778 76455 46555 54
o 00000
Scott Paper
SimpliCIty Pattern
Sterling Drug. Inc
Bllstol Myers Co.
Stevens. JP
Storer Broadcasting
Tidewater all Co.
Trane Co
Transwestern Pipeline Co
TII Continental Corp.
00000 00000 01112 36443 22466
43
22222 221 00 00000 00111 11111 22 122 43665
10 00001 00133 45446 78865 645'15
112 35466 67322
32010
444 43343 33333 33334 45553 36889 88534
26777
Unarco Induslrles, Inc.
Umon 011 of California
UnIOn Tank Car
UlD Corp
Umted Fruit
United Merchants &Manufacturers
US Pipe and Foundry Co
US Plywood Champion Papers, Inc.
o
64
44
54
44
24
24
64
74
4
55567 77899 99999 99989 98764 54455 44
7566 75689 99767 44
12111 11111 11123 44244 45655 66655 45466 54
00000 00101 00010 00000 01000 00001 12112 34
555 54
01332 22101 11110 00000 11222 32212 23366 64
66 55617 77768 76566 57555 54
66444 45663 33215 44444 43333 47767 75555 54
2256 77856 58788 75210 14
TABLE IVg. Risk-Retur Class 4
Allied Kid
Allied Stores Corporation
Allied Supermarkets, Inc.
Aluminum Co America
Amellcan Chain and Cable Company
Amellcan Commercial Lines Co.
Amellcan Crystal Sugar Co.
American Hospital Supply
Amercon Corp.
Amellcan News Co. Del.
321 22222 21121 12112 11110 23
8 88677 77767 77776 54434 53354 45323 33
8 99999 64533 23565 53
8888 86334 33
88877 77763 23344 45656 66656 66322 23
1 13
4565443135667752411131121001000234443
53
Conwood Corp
Amsted Industries, Inc.
Anderson Clayton
Baker 0,1 Tools, Inc.
Bath Indusllles,lnc.
Bealllce Foods Co.
Beneficial Finance Co.
Bush Terminal Co.
Campbell Soup Co.
Carey !Philip I Mfg. Co.
00000 00000 00001 21100 00000 00000 00121 33
47777 77668 88874 56667 87775 45566 66544 43
01234 43332 22101 23
Cluett. Peabody &Co., Inc
Cone Mills Corp.
Container Corp
Crown Zellerbach Corp.
Dan River Mills, Inc.
Dana Corp.
Denver &Rio Grande Western A.R. Co.
Diamond International Corp.
Eagle-Picher Industries. Co.
Falstaff Brewing Corp.
12122 22444 33211 11223 44554 32244
464
88 78936 67776 44545 68888 86554
6 77977 66665 42223 56676 57654
Fedders Corp.
Federal·Mogullnc.
Flollda Power Corp,
LlOk Belt
Ford Motor Co.
General Amellcan Transponation Co.
General Portland Cement
General Telephone &Electronics Co.
Gerber Products
Gillette Co
Gimbel Brothers, Inc.
Harshaw Chemical Co.
Hercules, Inc
Hershey Foods
Holly Sugar Corp.
Houston lighting &Power Co.
Ideal BaSIC Industries, Inc
3
00011 10000 00110 00002 43567 87764 33
3
3356
2 33542 22221 11122
00 00001 21111
53433 35599 99999 99986
78977
22213
10101
54453
43444
43222
12233
21112
55322
22455
23545
21100
23677
56554 45444
33
43
33
23
53
33
56533
46211
34544
54456
34110
65344
44323
56666
76322
00222
33
33
43
33
23
33
23
43
23
23
77655
65555
32444
66433
5555
20111
65545
42454
7666
23455
53
43
33
33
43
13
33
23
53
53
88898 88888 8887S 88899 65436 86575 65422
5433
2 23312 22110 11111 12233 34324 54654
10 00000 00001 00001 10010 00000 02444
4563 34344 55435 55342 23444'
00 00111 34443 31334
433
23
43
33
43
53
33
33
86232 22466 66652 21256 68864
988
000 00001 11111 22122 22223
8
7 66887
10
44556
86765
46564
77667
00000
46
42355 55333
0001
3 33433 33443 21011 12333
76677
24565
13433
46676
32332 33234 44454 33221 21112 33322
663 44567
2 22311 00000 12223
211 00011 12247 87764 44554 43322
1935
CLASS 4lcont'dl
International Salt Co
Inter co. Inc
• Jewel Companies. Inc
.Kellogg Co
Kimberly Clark Corp
Kresge. SS
Lane Bryant
Lehman Corp
P Lonllard Co
LOUISVille Gas and ElectriC Co
Lykes Corp
Madison Fund, Inc
Marshall Field and Co
'40
'45
'50
'55
'60
'65
01\" 7111 [) 100ll0 [l(JUD 1 1DOllO 03434 4444~ 43
o DO 101 1(JOOD DOlJO() OOllO(J OIlOOO 00021 23
43222 21110 1[)OOI 112~3 721ll? 23227 214~4 43
5 53
3 33523 33347
31222 73211 11111
785~3 34374
11112 27233
45222 21110 00002
21111 21244 48~44
00000 00000 00017
~~68~ 16521 20123
23344 43322 23333
33211 00001 12000
00 11000
20233
21111
37777
33333
11666
01345
23
4544
66666 77656 56676 55544 33355 44312
33
23
73
33
53
43
33
33
23
May Department Stores
McKesson & Robbms, Inc.
Mercantile SlDres Co, Inc.
Merritt Chapman and Scott Corp
MISSion Development Co
National Distillers &Chemical Co
National Gypsum Co.
Nelsner Bros
Chesapeake & OhIO Ry
Northern PaCific Ry
23233 33432 22212 11223 22222 33322 33322
3221-2 21111 1010° 23233
3235 74432 11223
1
22 2135b 57765
5 67999 99532
75133 22421 11113 33333 22346 77543 33222
657 77788 87766 68755 52443
7 78954 45545 53455 34322 21233 23111
11422 22023 33442 22110 00013 46654 43222
13656 66467 78899 99888 89999 99888 87655
13
23
23
43
33
33
33
23
23
33
PaCIfic TIn Consolidated Corp.
Penn D,Xie Cement Corp.
Pennsault Chemicals Corp
PepsIco. Inc.
Petroleum Corp. of Amenca
Phelps Dodge
Phillips Petroleum
Pittsburgh & West VllglOia Railway
Potomac Electric
Quaker Oats Co.
79 87555 88887
799 99988 99999 99975 56455
, 21211
33222 22498 99866 32445 46777
33344 33333 56544 45677
4 44355 55532 44355 44666
26454 43323 33331 11022 34665
34777 88899 99999 99878 77878
00
43
33
33
33
43
13
33
63
33
33
66766
76888
34355
87664
76656
78765
67655
78887
00000
0000
57334
87656
65434
54555
54444
54211
54333
79878
00244
00011
3433 33
Ranco.lnc.
Red Owl Stores, Inc.
Simmons Co.
Smclall Ort Corp.
Sola BaSIC Industries
Southern Co
Southern Paclfrc
Stewart Warner Corp
James Talcott
Toledo Edison Co.
3
77777 77776 66667 66766 65433 33456 57543 43
68444 43433 22333 44344 56766 67766 54333 33
0000 1000 I 11000 23
6 66565 55689 99999 84232 22212 21333 23
01656 66577 88887 77766 77776 76676 54323 33
67777 76566 67777 78877 77788 77655 55454 43
7
2233221111011011233355443
0011 01122 33
Union Carbide Corp
United· Greenfield Corp.
United Park City Mines Co.
UOIversal Leaf Tobacco
V,rgm,a ElectriC and Power
Von's Grocery Co.
Western PaCific RR
Wmn DIXIe Stores, Inc.
Woolwonh, FW
5322 21112 22220 00011 22343 34334 32133
455 52444 32000
99 99987
21 21100 01103 00000 00000 00000 02455
122 33322 21244
43
03
73
43
33
3
87686 33567 65433 33
000 00122 23
21111 11010 00003 21210 00000 11133 33444 43
TABLE IVh. Risk-Return Class 3
Allied Chemical Corp
Abex
Amencan & Foreign Power
Adams Express
Amellcan Natural Gas Co
American Zinc Co.
Ashland 0,1 &RefiOing Co.
ASSOCiated Dry Goods Corp.
Associated Investment
Atchison Topeka &Santa Fe Railway
33211
22233
99999
78888
11012
34445
99887
87767
22221
55654
78899
77776
Baltimore Gas & Electric Co.
Bayuk Cigars
Brown Shoe Co, Inc.
Buffalo Forge
Carriers &General Corp
Caterpillar Tractor Co.
Central III light Co
Champion Spark Plug Co.
Chesapeake Corp. Va
Columbia Broadcasting System, Inc
11000 11344 22
21333 33212 23323 31212 22133 33220 11445 42
00000 00100 00011 23322 10000 12221 11122 32
445 54331 00001 10001 12
56565 56666 67777 53322 44444 32121 12
55545 55540 23332 32214 6777 7 77655 42
1 22122 22322 22
322
1 23478 89774 32211 12
214 44334 35~52 32346 64544 32
99998 a8889 99998
66787 77777 78778
011
11444 45245 66664
10011 11223 35556 76443 22
34432 32335 54556 66211 12
99999 9~88 57434 34111 22
67787 75'j44 46554 43222 22
11123 33432 22
99999 9fJ887 89888 66100 12
88654 54332 32
88878 66666 75555 64322 22
00000 01024 46431 21333 22
24334 45565 67678 76322 12
VRRC,
CLASS 31cont'dl
1935
Comllleirta! ('eon Co
Contmental Can Co . Inc
Contlnent~1 Motors Corp
CunnlOqham Drug Siores
Dayton Power & light Co
DeVilbiss Co
Shamrock 011 &Gas
Distillers Corp Seagrams. ttd
Dr Pepper Co
DomHllck Fund. Inc
77344 4]43Z 34423 nm Zlill I/,m 1/272 32
44211 10001 1?24J 644]3 33,22 733J3 43111 12
77~~~ ~~677 6666J 88999 9~l~~JCl 9817J ~6431 37
42ZZ1 24227 21000 02
1101 11010 01111 22
1212 45~41 11123 32
55653 43456 55322 22
11022356655444222233322332
5653 43366 56422 22
122 43233 32211 22323 33554 32
Duke Power Co
E I DuPont DeNemClurs & Co , Inc
Ebasco Industries, Inc
ESB. Inc
Federated Department Stores, Inc
General Amellcan Investors
General Amellcan 011 Co 01 Texes
General Foods Corp
General Mills
General MOlars
64332 22211 11110 11111 12223 45544 44333 12
2
12222 22122 22222 23211 11256 88765 65332 02
33422 33335 44544 42223 35333 31223 22
88676 67767 76666 46545 54444 44432 22
665 52
100 00010 00000 00110 00000 11112 21344 22
o 00000 00000 00000 00000 11123 33443 22
54343 44433 34433 22233 33443 45544 43011 12
Glidden Co
Great Atlantic &PaCifiC Tei~ Co, Inc
Great Nonhern Ry. Co.
Green Shoe Manulactullng Co
Hall, W.F. Prtnttng Co
Hammond Corp
Helme Products, Inc.
Udylite Corp
Indiana pairs Power & Light
Inland Steel Co
BB666 55555 66756 67676 76777 76455 45433 22
6 52
12677 7B766 67776 55555 56667 BB7B7 75422 12
2
346B6 66654 55554 11100 10001 13343 32
765 42
00000 00000 00002 42100 00000 00000 01233 32
453 44444 33000 12
65311 00111 00001 02233 22
33555 56523 22342 21022 34666 77665 66656 42
Internallonal Utlirtles Corp
Johns ManVille Corp
Earl M Jorgensen Co.
Keller Industrills, Inc
Lone Star Cement Corp
Mcintyre Porcuptne Mtnes. Ltd
Melville Shoe Corp.
Middle South Utilities
MiSSion Corp.
MiSSISSIPPI River Fuel Corp
1 1257B 77322 22
65 55534 44443 11123 44332 14344 43333 32
32
32
35577 77754 44424 33332 22335 66554 33333 42
01000 00000 00001 00000 01135 76777 77332 22
22 22221 11100 00011 10011 11122 22100 12
2 12111 11222 12
44544 54355 57767 BB9BB 64111 22
4445 44443 32
M'SSOUII Portland Cement Co.
Montana Power Co.
Munstngwear, Inc
GC Murphy and Co
National AViation
National Starch and Chemical Corp
Niagara Share Corp
North Amellcan Sugar Industries, Inc.
Orange & Rockland Ullirlles, Inc
Paclltc Gas and Electric
1 12
11322 22
12343 32
10000 12
65321 12
2
76443 32
37999 9B7B9 99998 77643 33366 52222 33433 12
32
43211 11 000 00012 211 00 011 01 12212 11122 22
Untied Gas Corp
Peoples Drug Stores
Ouaker State 011 Reltntng Corp
Raybeslos Manhanan
Riegel Paper Corp
Rochester Telephone
South Jersey Gas Co
Southern Railway
Southwestern Public Service Co
Stone &Webster
EI Paso Natural Gas
Tenneco Corp.
Texas Gas TranSllllSSl0n Corp
Texas Ulilities Co
Tlmken Roller Beallng
Unton Electllc Co at M'SSOUII
Unton PaCIfic RR
United Allcrah Corp
Keebler Co
United fngineerlllg & foundry Co
Pubirc Service Eler,tllc & Gas Co
United Shoe Machillery
US &Foreign Seculilies
UllIled States Gypsum
'40
'45
50
'55
'60
'65
2
22112
12767 77565 55545 55777 66424 22110
111 0 00000 011 01 00121
6 66776 77666 56677 63555
3 32234
00111 11111 21211 00000 00000
1133 32111 23432 20001
6 66422 11123 32322 23333 33211
12
42
02
42
12
3 22
44 42
13999 99B9B 99988 BBBBB BBBB8 B8BB7 75333 22
00001102
6 66687 78878 B7B8B 78775 42445 55443 32
44333 33244
11433 33122
5 54233
21 11111
43111
01333
00000
14344
B622
112 21110 01112 32334 43221 12
21 22
1 12
3333 42222 12
44432 12222 34555 4~67B 76212 22
11 01333 32
22m 12111 21233 45456 45222 22
22231 34422 34644 ~3433 44111 12
11103 33345 42110 00000 00111 22
3321 34434 42333 45~6 7 65311 22
10 11111 11111
543
B BB7B7 7B8B9 99999 99999 9B877 66333
323222214 31111 022~2 36444 41111
1935
CLASS 31cont'dl
12
22
32
12
Walker Hnam Gooderham & Wons lid
Warner Co
WisconSin Elecilic Po .... er
Wvandolle Industries. Inc
'40
'45
'50
'55
17
page
'60
'65
111l, 17244 54444 3m} 21112 27
3 22
1122111 OU232 32
99999 77187 77 300 12
TABLE IVi. Risk-Return Class 2
Acme Markets. Inc
Allegheny Power System. Inc
Amellcan Electric Power Co, inc
Amellcan International Corp
Amellcan Motors Corp
Amellcan Sugar Co IN J I
Amellcan Water Works Co
Anchor Hockmg Glass Corp
Archer Daniels Midland Co
Atlantic City ElectriC Co
o 00022 33323 34333 211 00 10000 11333
77665 65556 67BB9 99998 64212 23333 33222
o 00002 21111
B9B66 65467 77BBB BB777 66555 65543 43221
34322 22234 45568 BBB77 77777 64165 55624
43222 22114 44565 34421 22234 33211 11000
21 10010 00000
3 33343 333 I 2 13444 20113 56444 33321
33122 21222 33322 01121 22135 67564 44200
11111 10111
AtlantiC Richfield Co
Belding Hemmway Co
Beco IndUStries Corp
Bond Stores
Borg Warner Corp
BrOOklyn Ullion Gas
Canadian Breweries, Ltd
Canadian PaCIfic Ry
Central 111. Public Service Co.
Central Southwest Corp
45222 21222 22232 34245
33132 22331 11100 24566
554 44332 33325 43322
013 21345
6 55444 55543 23355
54100 00023 34557 B7522
CmCtnnali Gas & ElectriC
Cleveland ElectriC IIlumtnaling Co.
Coca Cola
Colgate Palmolive Co
Columbus & Southern OhiO ElectriC
Commonwealth Edison Co
Consolidated Edison Co at New York
Consolidated Laundlles Corp
Dentists Supply Co.
DIGiorgiO Corp
11
11
11
01
21
21
11
21
01
11
66756 67766 55232 21
64434 35455 53210 01
22212 21121 11111 11
34435 64332 1211 I 11
55534 44555 66222 1i
21111 01110 00000 01
211111223322211
01223 33335 67BB9 BB7BB 799BB 9BBB7 66100 11
322 10111 21
1 13322 31122 11
11000 00000 00000 00000
34532 22212 11133
01 10000
54211 11 122 22224 43211
2354 33437 64222
0001 11000 00223
000 12121 10111
01111 22111 11233
33333 43123 56777
00000110000022
00000 11110 00011
11110 00011 00100
1111 0 01113 10311
21
01
31
41
21
11
11
11
11
01
Empire District Electric Co.
Fairmont Foods Co.
Family Fmance Corp
Federal Paper Board
Filst National Stores,lnc.
Gamble Skogmo, Inc.
General Cigar Co, Inc
General Contract Fmance Corp.
Surveyor Fund, Inc
General Public Ulllllles
0000 00011 22221
11
1 12221 12344
32101
43100 00011 11111 11 000 00000 00000 00111
25 44455 67533
12111 00021 11113 32322 23223 21000 00112
Giant Portland Cement Co
Gulf States Utilities Co
Iowa [lectllc Light & Power Co
Kansas City Power & Light
Kansas Gas &Elect~lc Co.
Kansas Power & Light
Peabody Coal Co
Keystone Steel & Wire Co
Libby Owens Ford Glass Co.
ligget and Meyers, Inc.
21
012 13211 10011 11
22 21
12111 001 01 11
10122 11
0011000012231
9 99997 46644 41
5550 00123 65565 44444 34223 21
7 67944 44433 12234 33323 77654 43233 21
00 111 11 000 00001 211 00 00000 11 000 00000 01
Maytag Co
McCrory Corp
McGregor Donlger. Inc
McQuay NOllis Mtg Co
Mesabi Trust UB I
Gulf Oil Corp
Missoull Public Service Co
Monsanto Co
Mountam Fuel Supply Company
Fuqua Industries, Inc
45B88 88753 34569 98B65 66442 23236 76554
2034 44864 44444 33443 21112 21222 14211
3000
3 22223 54444 34311
National Biscuit
National City 1Illes
National DailY Products
NatIOnal Standard Co
NatIOnal Sugar Refilling Co
New York State ElectriC & Gas Corp
Newport News ShlpbUlldmg & Dry Dock
PaCIfic Telephone & Telegraph Co
11211 11111 00102 32211 11111 11000 01122 11
5423 32243 12000 01
44222 22221 22224 32221 22211 13110 00112 21
1 01
000000121112227 11
1 00000 00112 21
1111 25666 6221 0 02212 11
10000 00000 00000 00000 00000 00101 13354 41
B 8B566 67999
21
21
21
21
21
21
11
2 11
999 8B841 10101 00000 21
11 00 011 00 11122 11
21
31
01
21
1
11 12333 6B754 42123 21
00 01
1 10101 11110 01255 54544 56544 53233 01
1
100 11
VRRC, page 18
CLASS 2 (cont'dl
----
193~
'40
'45
'50
'55
'60
'65
11111111000001721111121112000001
0111 10110 01222 21
J C Pennev Co
?ennsvlvarHa Power & light Co
Marquette Cement Mfg Co
Procter and Gamble Co
Public Service Co of Colorado
Pubhc Service Co of Indiana, Inc
Rochester Gas and EleCl/lc Corp
Rockwell Standard Corp
Raval Dutch Petroleum Co
San Diego Gas and ElectriC Co
Sears, Roebuck & Co
Skelly all
2 21100
11100 11000 00000 122J3 33100 00234
0111 21012 22222
11100 00112
00000 10233
7 77876 66541 13354 66668 B8777 54321
5 44111
1 11111
76543 44332 22212 11122 22211 13223 42334
57344 32445 66654 34355 66767 BBBll 54100
South Carohna Electric & Gas
Southern Cahfornla Edison Co
Southern Indiana Gas &Eiectrlc Co
Southern NalUral Gas
Siandard Brands
Standard Orl Company (Indiana I
Beech Nut life Savers, Inc
Suburban Propane Gas Co
Sucrest Corp
Sunbeam Corporation
221 21123 32432 11
21 00 00010 0000 1 1111 0 10111 1211 0 10012 11
22111 11011 01
1001 12221 21345 462i 1 11
21110 01011 11125 54422 23323 32222 32322 11
2 22222 11011 22434 67666 54233 11
20000 00000 00000 00000 00010 00111 22012 11
Telas Eastern Transmission Corp.
Torrrngton Co
Western Can Corporation
Unrted Corp
Consumers Power
US Lines Co
US Tobacco
Van Raalle Co
Wayne Gossard Corp
11
21
21
11
21
11
11
11
21
01
1
2212 32333 32000 01
6 44433 32000 01
5 55355 66899 99999 86500
000
55767 776B9 9999B 78776 43434
00000 0000 00001 31100 00000
31333 34353 34311 12234 32321
4733
11111
00000
34455
00000
12234
12334
66
01111
00011
34100
00133
22000
42210
1
21
31
11
11
01
31
01
01
TABLE IVj. Risk-Return Class 1
Abbott Laboratories
\labama Gas Corp
Amalgamated Sugar Co
Amerada Petroleum Corp
Amellcan Bank Note Co
Amellcan Can Co
Amellcan Investment Co.
Amellcan &South African Investment
American Telephone & Telegraph Co.
BenQuel Consohdated Inc.
BOSlon Edison
Frnanclal
Cahfornra Packing Corp
Campbell Red lake Mines ltd
Carolina Power & Light Co
Central AgUirre Sugar Co
Central Hudson Gas Electric Corp
Cilies Service Co
Coca Cola Bottling Co of New York
Columbia Gas System Inc
cn
Allred Mills Inc
Cuneo Press
DetrOit Edison Co
Domes Mrnes ltd.
Duquesne light Co
EQurtable Gas Co
GAC Corp
General Bancshares Corp
General Finance Corp
Genesco Inc
Great Northern Iron Ore Properties
Great Western Sugar Co
111 11111 22244 54222 33232
00
2212 10000
2011 00222 22233 22255 56643 45867 55355
55766 68445 56678 8B877 54322 22000 00000
43221 11 00 1 11112 10000 00122 22111 11000
21100 00011 12120 00101
10
00
00
40
00
00
10
o 00
11100 0000 00000 00000 00000 00001 11222 10
9 89884 00000 00
o 00000
76433 2222 23334 32322 22222 23210 00112
12444 4432 56676 54333 44444 44432 23232
00000
012 24222 21222
00001 11233 33000 00000 00000 12121
0000 00000 00000
7866 54000
45578 8886 63422 11111 21000
2100
1101
00
10
10
00
10
00
00
00
10
00
432101111 11133 33222 23211 10
43433 33344 54367 76300 00
00000 0000 1)0000 00000 00001 00
00016 6420 01146 ~4342 10000 00
11 21100 00
20111 11 000 00
11111 10
1 12221 00
1210 11201 00
41100 01135 43210 00
2123 3453 33330 1110 00010 11214 33111 00
2444 32101 11231 1100 01012 10000 01111 00
CLASS 1 Icont'd)
1935
'55
'60
Hackensack Water Co
Homestake MmlOg Co
Idaho Power Co
illinOIS Power Co
lf1dustrla Elewlca de MeXICO SA
International Harvester Co
Interstate Power Co
Iowa IIhnols Gas & Electric Co
000 00000 00000 00000 00000
00000 00000 00003 31000 00013
o 00000
01
2348
65543 44223 34454 33232 22344
00000
32221
! 3232
12211
88750
55455
000
00000
Iowa Power & Light Co
Kroger Co
Laclede Gas Co
lilly Tuhp Cup Corp
lockheed Aircraft
Lone Star Gas Corp
long Island Lighting Co.
Marathon all Co
Midwest Orl Corp
Cant mental all Co.
01000
00001
10111
66321
54333
23
00000
67233 22323 43454 55445 67875 55667
444
57444 43334 33442 43344 33434 57877
Minnesota Enterprises. Inc
Minnesota Power &Light
Montana Dakota Utrlitles Co
Natronal Fuel Gas Co
National Lead Co.
National Service Industries, Inc
National Tea Co
New England EleCl/lc System
Norfolk & Western Ry
Northern States Power Co
'40
'45
'50
32 22211 11100 00011 11000
00000 12255566688664331100
0111 11111 24456 43322
65535 47776
'651
000001(
OaOCO;(
10UGO IC
21111 Ie
13000 'I
44211 1
01000 (
00000 (
00000
21121
22222
21000
56432
32000
00010
77110
33101
74221
(
(
1
(
'
(
(
(
(
(
25344 55796 55668 89999 98764 51332 21000 (
00001 11000 (
55 66434 82000 I
11110 I
22122 22224 44544 43332 22335 78877 65110
1 10000 00000 01111 I
55443 33223 44567 54545 66512 34222 34222 11233 :
11 22221 11110 I
00100 00011 11110 00000 01112 33344 43100 I
o 01000 11000 I
Oklahoma Gas and Electric Co
Oklahoma Natural Gas Co
Outlet Co
Owens· IllinoIs. Inc.
PaCifiC Lighting
Panhandle Eastern Pipe line Co
Peoples Gas Light & Coke Co.
Puget Sound Power and Light
Rehable Stores
Safewav Stores
10000 00000 00000 00000
32011 00222 22110 00122
11 11 011 00112 20000
2
43322 22242 23212 00000
4332 32212
1 111433331100121
12223
2
01010
36444
00000
33344
11123
21211 I
21111 I
00000
00000
32212
42433
00000
00000
11211
33100
11121
33332
01000
10000 11221 11000
1111001001 00112
I
I
00101 00000
16434 43355 55541 01244 45534 54522 22011
000
222 22222 22334 43223 23433 56533 22011
SI. Joseph Light and Power
Shell 011 Co.
Shell Transport and Tradrng NYS
Mobil 011 Corp
Southeastern Pubhc Service
OhiO Edison Co.
North Amencan Rockwell Corp
Standard 011 Co. of California
Standard 011 Company (New Jerseyl
Consolidated Natural Gas Co.
1101 12212 11011
66576 66665 65545 45667 88766 54321
12111111122122332001123444665542000
22100 00012 22223 21111 12333 46644 32000
1121111 0100000011
Standard 011 of OhiO
Starrett L. S
Sterchi Bros. Stores
Sun 011
Sunray OX 011 Co.
Texaco. Inc.
LGI Corp
Philadelphia Eleetnc
Niagara Mohawk Power
U.S PlaYing Card Co
0122 34566 76545
4 44354 44541 33122 24352 00001
3211 00000
21000 00001 11110 10000 01121 11100
77 64555 78777
24222 22223 22231 10001 13444 56645
1 1111101124 54222 21100 00001
00 00000 01011
21111
1 21211 11010 00000
43000
10000
00000
00000
54000
44222
22221
01011
00001
01112
Utah Power & Llghl
Washington Gas Light
Washington Water Power Co
Waukesha Motor
Wheeling and Lake Ene Ay
WisconSin Public Service
Woodward Corp
William Wrrgley, Jr. Company
13223
3200() 00000 00011
221
5555 66633 33356 55554
00000 00001 00110 10000 00000 00000
00
72 23333 33366 77883
00000 00000 0000 1 10000 00000 00000
32100
12221
01111
33111
00000
00111
77311
00000
VRRC, page 19
Footnotes
1.
This paper differs from that of Black, Jensen and Scholes (BJS) in a number of respects. The
differences will be summarized here, although a full understanding may require a prior reading 01
the remainder of this paper. First, BJS require only 24 months of data to estimate a security's
risk-return class (although they use up to 60 if available); we require 60 months. Second, BJS use
beta to determine risk-return classes, while we use market sensitivity. Third, BJS measure performance in terms of monthly returns; we use annual values (both because an annual holding period seems
more consistent with an annual review of risk-return classes and because annual rebalancing involves
smaller transactions costs than monthly rebalancing of the portf01ios). Finally, we report geometric
means as well as arithmetic means for those interested in long-run performance and provide data concerning stability of risk-return classes for those interested in the characteristics of individual
securities.
2.
For a derivation of this relationship, see Sharpe (7).
3.
In general, the value of beta describes the majority of the fluctuations in returns for these
portfolios. The coefficients of determination for the regressions of portfolio return on market
return were:
Strategy
10
9
8
7
6
5
4
3
2
1
Coefficient of Determination
.94
.94
.95
.95
.98
.98
.92
.94
.88
.87
4.
This relationship can be derived from a model in which it is impossible to borrow without limit at
the same rate of interest at which one can lend. If the portfolio used as a market surrogate is
riskier than the optimal combination of risky securities for one who plans to lend part of his funds,
the result follows directly as long as the market surrogate is on the efficient frontier. The true
"market portfo1io" (which includes all assets -- e.g., corporate bonds, real estate, etc.) may well
be less risky than the typical index of New York Stock Exchange common stocks such as that used in
this study. It is entirely possible that if a better surrogate for the market portfolio could be
obtained, the relationship between average return and beta would intercept the average return axis
very near the interest rate of safe investments.
5.
The sum Of the figures in a row in either Table I or Table II will be less than 1; the difference
represents cases in which the security could not be classified in the later period due to lack of
adequate data.
VRRC. page 20
References
1.
Black, Fischer, Michael C. Jensen, and Myron Scholes, liThe Capital Asset Pricing Model: Some
Empirical Tests," in Studies in the Theory of Capital Markets, M. C. Jensen, ed. (Praeger
Publishing, forthcoming, 1971).
2.
Fama, Eugene F., "Risk, Return and Equilibrium:
March 1968 (pp. 29-40).
3.
Lintner, Joh, liThe Valuation of Risk Assets and the Selection of Risky Investments in Stock
Portfolios and Capital Budgets," Review of Economics and Statistics, February 1965, pp. 13-37.
4.
Markowitz, Harry, "Portfolio Se1ection," Journal of Finance, March, 1952, pp. 77-91
5.
Mossin, Jan, "Equilibrium in a Capital Asset Market," Econometrica, October 1966, pp. 768-783.
6.
Sharpe, William F., "Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk,"
Journal of Finance, September 1964, pp. 425-442.
7.
Sharpe, William F., Portfolio Theory and Capital Markets, McGraw-Hill, 1970.
8.
Tobin, James, ilLiquidity Preference as Behavior Towards'Risk," Review of Economic Studies, February
1958, pp. 65-86.
Some Clarifying Comments," Journal of Finance,
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