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fairer way to share access to the transmission medium than CSMA/CD, because while every station has to wait for its turn, it is absolutely guaranteed that it will get that turn. These systems are therefore characterized by bounded delay, because there is a maximum amount of time that any station will ever have to wait for the token. Token-passing rings work as shown in Figure 5-23. When a station wishes to transmit a file to another station on the LAN, it must first wait for the token a small and unique piece of code that must be held by a station to validate the frame of data that is created and transmitted. Let s assume for a moment that a station has secured the token because a prior station has released it. The station places the token in the appropriate field of the frame it builds (actually, the medium access control scheme, called a MAC scheme and implemented on the NIC card that builds the frame), adds the data and address, and transmits the frame to the next station on the ring. The next station which also has a frame it wishes to send receives the frame, notes that it is not the intended recipient, and also notes that the token is busy. It does not transmit, but instead passes the frame of data from the first station on to the next station. This process continues, station by station, until the frame arrives at the intended recipient on the ring. The recipient validates that it is the intended recipient, at which time it makes a copy of the received frame,

Stock returns fluctuate enormously because they depend on random future events and states of the economy that are impossible to predict. Forecasting returns accurately is extremely difficult. Your principal concern with a stock should be your investment return or cash flows that you expect to receive. Does the stock pay dividends Has the stock price gone up according to your expectations What is your total rate of return The bottom line is that you re interested in stock performance measures that relate to your pocketbook. We don t particularly care whether a company whose stock we own makes funeral caskets or Cabbage Patch Kids as long as it generates free cash flows, has positive investment returns, and is fairly priced that s what matters.

Tran ISWICH -6.54

There are 12 frames from I to I, and the ratio of P frames to B frames is based on experience. Sequentially, the frames would look like the sequence shown in Figure 2-23.

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R5 1

Figure 2-22 A fishing boat how much of the image must actually change as the result of MPEG compression

Return to stockholders includes any dividend payments plus the increase (or minus the decrease) in stock price that investors experience during an investment holding period. The market s focus is on yearly or annualized return to stockholders, as measured by percentage gains or losses, and usually uses the calendar year as the calculation period. Return to stockholders refers to an annual return, which is equal to the sum of the dividends paid plus the net change in a stock s price, divided by the beginning price of the stock. % Return to Stockholders (Dividends Change in Stock Price) Beginning Stock Price

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R4 .05

2

For example, if a stock s price started the year at $100, the stock paid $1 in dividends during the year, and it ended the year at $109, its percentage annual return to stockholders equals: ($1 $9)/ $100 10 percent. This is not a complex calculation. The stock market, however, sometimes acts in funny ways. The return on a stock may be negative even if the company had a successful year from an operations or earnings perspective. The stock market may have plummeted due to macroeconomic concerns like higher interest

There are several different versions of MPEG compression. They are described in the following sections.