Controlled Airspace In The United States Essays -

Controlled Airspace In The United States The value of controlled airspace in the United States is for the safety of all commercial and general aviation flights. Utter chaos reigns in skies without controlled airspace. With thousands of airplanes in the skies every day carrying hundred of thousand of people the necessity of a means of controlling them becomes relevant. The (FAA) Federal Aviation Administration is the regulative department of the United States Government that controls the skies in the U.S. The FAA divided the airspace into different categories, all of which have different regulations and limits on both horizontal and vertical airspace restrictions. They are broken down into basically three distinct airspaces: Class B, Class C, and Class D. Class B airspace is controlled airspace that extends upward from the ground surface to a specified altitude of 10,000 msl (mean sea level). All aircraft that operate in this airspace are subject to regulations set forth by the FAA. Some of the requirements for the pilot to operate in Class B airspace are: the pilot must at the minimum hold a private pilot certificate, and a current medical certificate. The aircrafts operating in Class B airspace must have at least three pieces of equipment; the first is a two-way radio for communication. The second piece of equipment, a transponder, tracks the aircraft's position. The third piece of equipment is a VOR (vertical omni range), which directs the pilot's position. Also, in order to operate in Class B airspace a person must obtain a clearance for ATC (Air Traffic Control). The speed limit in Class B airspace is restricted to 200 knots. Throughout the country, metropolitan airports designate Class C airspace with a set of rings, extending from the surface of the earth to an altitude of 4,000 feet above the airport elevation and a radius of 5nm (nautical miles) from the center of the airport. This area is known as a primary Class C airport. There is an outer ring that extends out 10 nm from the airport and above the surface from 1,200 feet to 4,000 feet. This area is used for transitioning to and from the airport. The operating rules in the Class C are similar to that of the Class B. The pilot is required to hold at least a private pilot license and a valid medical certificate and to be classified as ?current.? Current requirement entails having completed at least three takeoffs and landings in the same type of aircraft. The pilot must also complete a biannual flight review with a certified fight instructor. The aircraft must be equipped with a two-way in order to communicate with ATC, which is required prior to ente ring the airspace. The aircraft needs to have a transponder with altitude encoding in order for ATC to track them in the air. The VOR is also required for navigation in and around this airspace. Flights at or below 2,500 feet within 4 nm of the airport must not exceed 200 knots. This speed restriction helps to alleviate the noise caused by large aircraft over densely populated areas. A pilot is required to have aboard the aircraft a sectional chart that depicts the airspace and transition areas. The next airspace is the Class D. This area is generally the airspace above an airport, from ground level to 2,500 feet and outward for 4 nm. The Class D airspace is considered part of the airport itself. A pilot is required to hold the same license, have a valid medical certification as the Class C and they must adhere to the same current classification requirements. A pilot must already be in communication with ATC and be cleared before entering the Class D airspace. Once the pilot is cleared he is transferred to the airport tower, which handles all the traffic within that airspace. No matter whether the aircraft is on the ground or in the air, the local tower is responsible for guiding them safely within its boundaries. The speed is limited to 200 knots within this airspace as well. The airspace categories are a valuable asset to the United States transportation system and has been designed to protect the public and ensure the safety of the thousands of aircraft that

Technology and Inventions of the Good Old Days essays

Technology and Inventions of the Good Old Days essays The Good Old Days had many inventions and a lot had a big impact on society. The main theme of the inventions were the use of electricity and invention of electrical appliances. For example, the light bulb by Thomas Edison, the telephone by Alexander Bell, and the plane by the Wilbur and Oliver Wright. Quick and accurate communication is very important in society and to the economy. Alexander Gram Bell invented the telephone in 1876. The telephone actually expanded out from ideas he made to the telegraph. The telephone came to be a very needed item in the house and truly useful too soon after it was invented. With the telephone out, anyone had the power to talk to anyone around the world, which helped businesses and offices a lot with orders and transactions. Another plus to the telephone was that no one had to know morse code or go to a telegraph office to send or receive a message. The military also benefitted since they could keep in contact with the enemy. Its proven that the War of 1812 might have been prevented if they could have communicated quicker. The disadvantage with the telephone, it put the Pony Express and other postal workers out of business now that people didnt have to send their messages by paper. And cables didnt run everywhere, so some were left out . On December 4, 1877 Edison was the first person to record and play back the human voice on the phonograph. The phonograph was an original invention, but used some of the ideas from the telephone and the telegraph. Edison often sought inventions to meet a demand in the marketplace. His invention took a while but he finally recorded the human voice and played it back successfully. Since then we use the power to record audio in many places. In 1887 he made the Edison Phonograph Corporation to market and sell his invention. The business of selling phonographs was very disorderly. He then went on to make much money...

Capital asset pricing model Essay Example | Topics and Well Written Essays - 1000 words

Capital asset pricing model - Essay Example The market indices of the securities market may not always diversify well. The capital-pricing model will not explain investors’ behavior and the beta might fail in capturing the risk of investment in real life practice due to these factors. Therefore, the model fails to act as a uniform and efficient valuation model in a real practical situation. The model only works in a generalized situation that is when dealing with a portfolio but fail if the investment is broken down into single forms of securities. The capital asset pricing model assumes that the higher the risks the higher the return and that all the investors are risk averse. The model assumes that securities are highly divisible into small parts. The model further, assumes that all investors access information at the same time and that investors make decisions based on a single period horizon. The capital asset pricing model is practically difficult to validate. Empirical validation of the capital asset pricing model has to establish that beta has ability to measure the risk of a security (Szyszka, 2009). It also has to show that there is a significant correlation between beta and the expected rate of return. The empirical results have however, being of mixed outcomes. The results have shown that the relationship is not as strong as the capital asset pricing model indicates. The results also have also shown that the expected returns are also related to other measures of risk, which includes firm’s specific risk. Other factors such as market value and book value ratios relationship with returns were found to be significant. In order to test capital asset pricing model empirically researchers need to use data on expected prices. However, the data available is historical information only. This therefore, will result to biased empirical results. The capital asset pricing model assumes that the market portfolio consists of all the assets in all the markets. The market portfolio according to t he capital asset pricing theory must include every marketable asset (Khalaf, 2010). The assumption behind the market portfolio is that market index performance is impacted by every factor in the economy. The use of proxy portfolio is very controversial and this leads to the questioning of the validity of the Capital asset pricing model. Capital asset pricing model measure of a security future risk (Beta) is constant. In a real security market, investors do not have future information about the market to estimate beta. Investors only have past information about the market portfolio, performance of different organizations and prices of shares. Therefore, investors can only estimate the measure of a security future risk using historical data. The use of a historical beta is only applicable in case the beta is stable over time. Research has shown that betas for different securities are not constant over time. Therefore, historical betas are poor indicators to determine future risk of se curities. B) Describe Roll’s critique of the early empirical tests of the Capital as