Definition of modeling terms Essay Example | Topics and Well Written Essays - 500 words

Definition of modeling terms - Essay Example Spreadsheet engineering is the study of modeling that enables us to plan and develop more complex and detailed business models. The study also facilitates business communication especially performing modeling tasks and accounting statements in effective and efficient manner. Model formulation is to removing needless details and abstracting critical features of the real world. It is a development for making the actual situation understandable, easier and capturing a core objective of solving a real world problem. Decisions are to make up your mind for selecting a way forward keeping in view the possible alternatives. The decision can be taken on the number of items to buy/sell, quantity of items to be manufactured Problem Context is an activity of modeling that explains the fundamental causes and the current situation of the problem raised by the modeler. It should be structured considering the client’s view of the problem so that they can guide to a solution. Model structure is an activity of modeling in which a modeler builds a model by selecting/ inserting items, values and their relationship in the spreadsheets considering options of using model types, breaking the problem into sub-problems. Model assessment is an activity of modeling in which the developed models are evaluated to find out either they are viable, suitable and satisfactoriness keeping in view the problem of the client and objective of their

The Current State of the Wheeler-Lea Act Essay Example | Topics and Well Written Essays - 500 words

The Current State of the Wheeler-Lea Act - Essay Example Still there were some shortcomings, which were corrected by Wheeler Lea act. Congress passed The Wheeler-Lea Act in 1938, a United States federal law, which amended the Federal Trade Commission Act. It gave the FTC the additional responsibility of policing â€Å"deceptive acts or practices in commerce.† In so doing, the FTC tries to protect the public against false or misleading advertising and the misrepresentation of products (Larabee, Robert). So the Federal Trade Commission Act, as modified by the Wheeler-Lea Act, gives new provisions: The Wheeler-Lea Act has not permitted the FTC to control the advertising of self-medication drugs. So there has not been as much improvement in patent medicine advertising as wished. Prescription drugs are policed by the FDA under the Kefauver-Harris Amendments of 1962. Additionally, advertising of restricted medical devices is regulated by the FDA under the Medical Device Amendments of 1976. Most recently, Congress passed a broad reform of the FD&C Act in the Food and Drug Modernization Act (FDAMA), which includes provisions to â€Å"regulate advertising of unapproved uses of approved drugs and devices, and regulate health claims for foods.† There is requirement of prohibition of unfair methods of competition and advertising, in order to protect consumers as well as competition. Many Acts has been passed by U.S government. Wheeler lea Act was a big step in this direction. It regulated advertising, labeling strategies and identification, quality, and fill-of-container for foods and