User:Industryman/sandbox

ARTICLE EVALUATION

William Milnor Roberts:


 * Mr. Roberts is one of the most influential Civil Engineer of all time. He has worked in various projects including the Northern Pacific Railroad, Don Pedro Segundo, Brazil and many others.
 * There are many citation issues in the article. One of them has been removed because the link is not working.

Talk:Time value of money


 * The value of money doesn't stay constant throughout the time. For eg: $1 of the current time is not as valuable as 1990's $1. In other word, the purchasing power of a currency decreases with time due to the inflation.
 * Investors keep aside their money on stocks and other financial assets with the expectation that they will get the higher return even with the inflation effect.

Capital Budgeting


 * Capital budgeting is the allocation of firm's budget (asset, equity, debt, cash flow etc.) on the essential investment (Like machines, advanced technology, computers etc.) with the expectation of getting higher returns on investment.
 * In order to understand the capital budgeting, one need to be familiar with the concept of net present value, accounting rate of return, payback period, profitability index etc.

Wikipedia Assignment 3:

Wellington article:


 * Many links associated with the word doesn't exist anymore. The link associated with the word "Arthur M Wellington Prize" has been replaced with an updated one. The citation has been discussed in the discussion section of the article.
 * Overall, the article is very helpful to understand Arthur M. Wellington. He was one of the best Civil Engineer in the history.

Lounsbury article:


 * Provided an updated citation for the article "The Fish Family in England and America".
 * Many citation issues need to get fixed for the article. Links are not updated. However, the article is very helpful to understand the major contributions of Lounsbury.

Grant Article:


 * In an award section of the article, the ASQ Shewhart Medal was not linked to any website or referenced. Therefore, the word Shewhart Medal has been linked to the website. Citations are provided.


 * As in the Lounsbury article, many citations need to get fixed. Links have to be updated.

IMPACTS AND LIMITS OF WIKIPEDIA:

Wikipedia is created as a platform of summarizing any available information. In other word, Wikipedia is not created to publish any original research ideas and discoveries. Wikipedia helps a lot to gain an understanding on the topic. Wikipedia doesn't only help students collect an information on most of the subjects but also helps professionals a lot. Thus, Wikipedia is a valuable platform to understand about the topic although the contents in Wikipedia can not be a hundred percent accurate.

Since anybody can write and edit on Wikipedia, the contents available on Wikipedia can't be reliable all the time. However, users can check the reliability of the information using the citation section in the article. The citations should be made only using the reliable articles and sources. Therefore, the citations exclude the blogs, medical papers, newspapers and other sources that includes the opinion of certain writers and/or particular group. Because of the requirement of Wikipedia to exclude certain sources from the citation, the editor on Wikipedia might not be ale to cite many contents on Wikipedia. Also, various information presented by the newspaper, medical papers and blogs can be accurate.

Wikipedia 100 years ago and 100 years from now (Audience with some access to technology)

Today, almost anybody with a decent educational background can write and edit the article on Wikipedia. This is due to the presence of internet, which contains almost any information that we need. However, 100 years ago, there was no internet. Due to the lack of internet, only the professionals in the field would have been able to write and edit the Wikipedia contents. This means the contents on Wikipedia would be more trustworthy and reliable in comparison to today. However, the Wikipedia would not have the information on a variety of topics due to the lack of Wikipedia editors.

100 years from now, the internet would be overloaded with the information and the machine change the way human beings live. There is a chance that the information on Wikipedia be filled by the machine and computer by the use of reliable source. The machine can replace the human editor by paraphrasing the information from reliable sources and providing the suitable citation on Wikipedia. At the same time, human editors on Wikipedia would have much more contributing capacity than today due to the presence of enormous information on the internet.

Wikipedia 100 years ago and 100 years from now (Civil Engineering Audience)

If Wikipedia and civil engineering topics were being written 100 years ago, how might its content (and contributors) be different? How would Wellington have written about railroad economy? How would Campbell? John Haydon? Milnor Roberts? What about 100 years from now? What would CE knowledge look like 100 years from now? Would a wiki platform remain relevant?

If Wikipedia and Civil Engineering topics were being written 100 years ago, most of its content would be extracted from the reliable sources such as books and scientific papers due to the lack of internet. Also, the contributors on Wikipedia would be the professionals such as the professional Civil Engineers and the Professional material scientist. Wellington would have defined Engineering on the Wikipedia as executing any project for a dollar, which would have taken at least two dollars for non-engineers. Wellington would have included content based on his personal experience and other reliable engineering books and scientific papers. In the same way, Campebell, John Haydon and Milnor Roberts would have contributed to the Wikipedia in the same way as Wellington.

Civil Engineering knowledge in the Wikipedia would be much more different 100 years from now. The presence of any information on the internet would allow the Wikipedia editors to contribute much more easily than today. Also, the presence of advanced machines can contribute a lot to Wikipedia as they can replace the human editors by using the information from internet to contribute on the Wikipedia articles. I think the Wiki platform would remain relevant 100 years from now as the Wiki is a unique platform to extract information. Wiki helps its users by summarizing the information.

Article Selection

PRICE
 * Lacks the technical information on price. So, the article has an ample room for the technical content related to the price.
 * Lacks the relationship between the price, the cost, and the profit.
 * Contents in the article are not systematically organized. Information are randomly distributed throughout the article.
 * Citations are not clear. Instead of citing a particular section of the book, the entire books are cited.

List of relevant books, articles and other sources
 * The Applied Theory of Price
 * The Theory of Price Uncertainty, Production, and Profit

Reference of the sources
 * MacCloskey, Donald N. The Applied Theory of Price. Macmillan, 1987.
 * Tisdell, Clement Allen. Theory of Price Uncertainty, Production, and Profit. Princeton University Pres, 2016.
 * Britannica, The Editors of Encyclopaedia. “Price.” Encyclopædia Britannica, Encyclopædia Britannica, Inc., 1 June 2018, www.britannica.com/topic/price-economics.

Price

In ordinary usage, a price is the quantity of payment or compensation given by one party to another in return for one unit of goods or services. . Many people confuses price with the cost. However, Price and Cost are two separate entities. Price is the combination of cost and profit. However, cost doesn't include the profit.

In modern economies, prices are generally expressed in units of some form of currency. (For commodities, they are expressed as currency per unit weight of the commodity, e.g. euros per kilogram or Rands per KG.) Although prices could be quoted as quantities of other goods or services, this sort of barter exchange is rarely seen. Prices are sometimes quoted in terms of vouchers such as trading stamps and air miles. In some circumstances, cigarettes have been used as currency, for example in prisons, in times of hyperinflation, and in some places during World War II. In a black market economy, barter is also relatively common.

In many financial transactions, it is customary to quote prices in other ways. The most obvious example is in pricing a loan, when the cost will be expressed as the percentage rate of interest. The total amount of interest payable depends upon credit risk, the loan amount and the period of the loan. Other examples can be found in pricing financial derivatives and other financial assets. For instance the price of inflation-linked government securities in several countries is quoted as the actual price divided by a factor representing inflation since the security was issued.

Moving your CE contribution to Wikipedia

1. The above edits on the topic "Price" has been moved to the Wikipedia article named "Price".

2. A schematic diagram representing the relationship between the price and the cost has been added to the Wikipedia article. The diagram helps the reader understand the difference between the price and the cost much more easily.

3. Moreover, the definition of break-even situation has been introduced to the article "Price" and its relationship with the price. As a Civil Engineer, understanding the break-even situation is very important.