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Objective Of Kentucky Fried Chicken Engineering Essay

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Objective of the Kentucky Fried Chicken (KFC) have two objectives are stated objective and implied objective. First objectives in the stated objective are product development. In this objective the KFC do the increase variety on menu, introduce desert menu and introduce buffet to restaurants. Second objectives from the stated objective is introduction on the Neighborhood Program with menu items target African Americans in major cities with the items of greens, macaroni and cheese, peach cobbler and red beans and rise. Besides that, menu items targeting Hispanics in major cities with the items of fried plantains, flan and tress leeches.

Others objectives is implementation on non-traditional units including the shopping mall food courts, universities, hospitals, airports, stadiums, amusement parks, office building and mobile units. After that, in this objectives want to increase profitability of KFC through the reduced overhead costs, increased efficiencies, improved customer service, cleaner restaurants, faster and friendlier service and continued high quality products. Also have to resolve franchise problems in the United States.

In implied objectives have four objectives. First objective is expansion of international operations to provide the increased percentage of overall sales growth and increased percentages of profit growth. Also want to increased expansion of franchises into Mexico. The next objective is expansion of franchise operation beyond Central America, continued promotion of healthier image through removal of the world "fried" from the name and to improve menu selection of rotisserie.

Industry analysis is important to unusual for a firm in a troubled industry to perform well. The economic structure of an industry is not an accident. It is complexities are the result of long term social trends and economic forces. But its effects to the business manager are immediate because it determines the competitive rules and strategies to use. Five forces that are widely use to assess the structure of any industry. The five forces are the bargaining power of supplier, bargaining power of the buyers, threat of new entrants, threat of substitute and rivalry among competitors. The strength of the five forces determines the profit potential in an industry by influencing the price, costs and required investment of business it is the element of return on investment. Stronger forces are associated with a more challenging business environment.

In the first forces is bargaining power of suppliers that's means any business requires inputs such as labor, parts, raw, materials and services. The cost of inputs can have a significant effect to company's profitability. Whether the strength of suppliers represent a weak or string force thing on the amount or bargaining can exert and ultimately on how can influence the terms and conditions of transaction in their favor. Besides that's, to reducing the bargaining power of suppliers are reduce inventory costs by providing just in time delivers, enhance the value of goods and services supplied use of information about customer needs and preferences and speed the adoption of new technologies.

Second forces is bargaining power of buyers that's the power of buyers describe the effect that the customers have on the profitability of the business. The transaction between the seller and the buyer creates value for both parties. Buyers have more power when the industry has many small companies supplying the product and buyers are few and large. After that the customers have access to and are able to evaluate market information. To reducing the bargaining power of buyers are increasing their loyalty to the business through partnerships or loyalty programs, selling directly to customers, or increasing the inherent or perceived value of a product by adding features or banding.

The next forces of the industry are threat of new entrants that's means the new entrants is the possibility that new firms will enter the industry. New entrants bring a desire to gain market share and often have significant resources. Analyzing the threat of new entrants involves examining the barriers to entry and the expected reactions of existing firms to new competitors. These barriers protect the companies already in business by being a hurdle to those trying to enter the market. Entry barriers are unique for each industry and situation, and a change over time. The threat of new entrants is greatest when the processes are not protected by regulations or patents and competitors may be scared away when the learning curve is steep, competitors will be attracted to an industry where the production process is easily learned.

The threat of substitutes is forces of industry. Be aware that substitute products can come in many shape and size, and do not always come from traditional competitors. Products from one business can be replaced by products from another. Substitute products are those that can fulfill a similar need to the one product fills. Substitutes are a greater threat when the products does not offer any real benefit compared to other products. After that, it is easy for customers to switch. Means that's a grocer can easily switch from paper to plastic bags for its customers, but bottler may have to reconfigure its equipment and retains its workers if it switches from aluminum cans to plastic bottles. To reducing the threat of substitutes is using tactics such as staying closely in tune with customer preference and differentiating the product by branding.

The last forces are rivalry among competitors. Competition is the foundation of the free enterprise system yet with small business even a little competition goes a long way. Because company in an industry is mutually dependent, actions by one company usually invite competitive retaliation. Rivalry among competitors is often the strongest of the five competitive forces, but can vary widely among industries. If the competitive force is weak, companies may be able to raise prices, provide fewer products for the price, and earn more profits. The most intense rivalries occur when one firm or a small number of firms have incentive to try and become the market leader or when the market is growing slowly or shrinking. To reducing the threat of rivals is employing a variety of tactics. To minimize price competition, distinguish the products from the competitors by innovating or improving features.

WHAT IS KFC

KFC Corporation founded and also known as Kentucky Fried Chicken is a chain of fast food restaurants based in Louisville, Kentucky. KFC has been a brand and operating segment, called a "concept", of Yum! Brands since 1997 when that company was spun off from PepsiCo as Tricon Global Restaurants Inc. The company was founded as Kentucky Fried Chicken by Colonel Harland Sanders in 1952, through the idea of KFC's fried chicken actually goes back to 1930. The company adopted the abbreviated form of its name in 1991. Starting in April 2007, the company began using its original name, Kentucky Fried Chicken, fir its signage, packaging and advertisement in the United State as part of a new corporate rebranding program, newer and remodeled restaurants will have the new logo and name while older stores will continue to use the 1980s signage.

Since its inception, KFC has evolved through several different organizational changes. These changes were brought about due to the changes of ownership that followed since Colonel Sanders first sold KFC in 1964. In 1964, KFC was sold a small group of inventors that eventually took it public. Heublein, Inc, purchased KFC in 1971 and was highly involved in the day to day operations. R.J. Reynolds then acquired Heublein in 1982. R.J. took a more laid back approach and allowed business as usual at KFC. Finally, in 1986, KFC was acquired by PepsiCo, which was trying to grow is quick serve restaurant segment. PepsiCo presently runs Taco Bell, Pizza Hut and KFC. The PepsiCo management style and corporate culture was significantly different from that of KFC.

By the end of 1994, KFC was operating 4 258 restaurants in 68 foreign countries. KFC is the largest chicken restaurant and the third largest quick service chain in the world. Due to market saturation in the United States, international expansion will be critical to increased profitability and growth. The companies of KFC have more than 36 000 locations around the world. The company is ranked number 239 on the Fortune 500 list, with revenues in excess on $11 billion in 2008. Every day, more than 12 million customers are served at KFC restaurants in 109 countries and territories around the world. The companies of KFC more than 15 000 units around the world.

SWOT ANALYSIS

SWOT analysis is a strategic planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. A SWOT analysis must first with defining a desired end state or objective. A SWOT analysis may be incorporated into the strategic planning model. Strategic Planning, including SWOT and SCAN analysis, has been the subject of much research.

After that, in SWOT analysis have the strengths, weaknesses, opportunities and threats. The strengths are attributes of the person or company that are helpful to achieving the objectives. The weaknesses are attributes of the person or company that are harmful to achieving the objectives. After that, the opportunities means external conditions that are helpful to achieving the objectives and the last is threats means that external conditions which could do damage to the objectives.

In the strength have the lack of secondary trading such as sukuk flexibility of the Syariah, Syariah Supervision, advantages of religious preposition, less use of money for speculative purpose, divine sources, Islamic rating agencies, morale and commitment to serve, huge amount of saving, innovative aspect, location wise and geographically, transparency, justice and fairness, according standards, quality of service, legal and regulatory framework and information system.

After that, the weaknesses have are lack of standardization, reverse engineering of conventional product, there are differences in theory and practice, lack of Islamic gedging mechanism, no fixed obligations, unresolved fiqh issue, small percentage of profit loss sharing product, lack of qualified personnel, time or season factors, disadvantages of proposition, divergence of Shariah opinion and lack of Shariah compliant investment avenue.

The opportunities have the technological advances, Islamic is a complete solution, the growth of socially responsible investing, faith based customer, large potential ahead in retail, corporate and investment banking, potential relating to sukuk, better customer relations, serving for all potential specific sectors, potential in fund management and provide innovative product.

The last is threats have the global financial crisis, economic uncertainty in global market, market demand, shortage of recourses, lack of sustainable financial backing, intense competition from the conventional institutions, paucity of 100% Syariah compliant solution, liquidity and monetary management, a lot legislation is required, lack of awareness and understanding of Islamic financial product and sophisticated conventional financial system.

CALCULATION

KFC

NAB

ALL ORDINARIES

 

DATE

ADJ CLOSE

RETURN

ks-k bars

(ks-k bars)2

1

1/6/2003

3.5

 

 

 

2

1/13/2003

3.6

-0.012234456

-0.011218519

0.0001258552

3

1/20/2003

3.78

-0.021189299

-0.020173361

0.0004069645

4

1/27/2003

3.62

0.018783229

0.019799167

0.0003920070

5

2/5/2003

3.52

0.012165907

0.013181845

0.0001737610

6

2/10/2003

3.46

0.007466565

0.008482502

0.0000719528

7

2/17/2003

3.12

0.044921505

0.045937442

0.0021102486

8

2/24/2003

3.5

-0.04991345

-0.048897513

0.0023909667

9

3/3/2003

3.5

0

0.001015938

0.0000010321

10

3/10/2003

3.46

0.004991946

0.006007883

0.0000360947

11

3/17/2003

3.4

0.007597182

0.008613119

0.0000741858

12

3/24/2003

3.46

-0.007597182

-0.006581244

0.0000433128

13

3/31/2003

3.42

0.005049993

0.00606593

0.0000367955

14

4/7/2003

3.46

-0.005049993

-0.004034055

0.0000162736

15

4/14/2003

3.42

0.005049993

0.00606593

0.0000367955

16

4/21/2003

3.5

-0.010041938

-0.009026001

0.0000814687

17

4/28/2003

3.5

0

0.001015938

0.0000010321

18

5/5/2003

3.5

0

0.001015938

0.0000010321

19

5/12/2003

3.48

0.0024888

0.003504738

0.0000122832

20

5/19/2003

3.48

0

0.001015938

0.0000010321

21

5/26/2003

3.48

0

0.001015938

0.0000010321

22

6/2/2003

3.5

-0.0024888

-0.001472863

0.0000021693

23

6/9/2003

3.66

-0.019413041

-0.018397103

0.0003384534

24

6/16/2003

3.66

0

0.001015938

0.0000010321

25

6/23/2003

3.6

0.007178585

0.008194522

0.0000671502

26

6/30/2003

3.56

0.004852503

0.005868441

0.0000344386

27

7/7/2003

3.8

-0.028333599

-0.027317661

0.0007462546

28

7/14/2003

3.76

0.004595752

0.005611689

0.0000314911

29

7/21/2003

3.86

-0.01139946

-0.010383522

0.0001078175

30

7/28/2003

3.94

-0.008908917

-0.007892979

0.0000622991

31

8/4/2003

4

-0.00656377

-0.005547832

0.0000307784

32

8/11/2003

3.98

0.002176919

0.003192857

0.0000101943

33

8/18/2003

4.38

-0.041591038

-0.040575101

0.0016463388

34

8/25/2003

4.48

-0.009803903

-0.008787966

0.0000772283

35

9/1/2003

4.44

0.003895044

0.004910982

0.0000241177

36

9/8/2003

4.46

-0.001951889

-0.000935951

0.0000008760

37

9/15/2003

4.2

0.026085568

0.027101506

0.0007344916

38

9/22/2003

4.28

-0.008194479

-0.007178541

0.0000515314

39

9/29/2003

4.22

0.006131318

0.007147256

0.0000510833

40

10/6/2003

4.26

-0.004097148

-0.00308121

0.0000094939

41

10/13/2003

4.46

-0.01992526

-0.018909322

0.0003575625

42

10/20/2003

4.64

-0.017183122

-0.016167184

0.0002613778

43

10/27/2003

4.84

-0.018327381

-0.017311443

0.0002996861

44

11/3/2003

4.8

0.003604124

0.004620062

0.0000213450

45

11/10/2003

4.5

0.028028724

0.029044661

0.0008435924

46

11/17/2003

4.44

0.005829544

0.006845481

0.0000468606

47

11/24/2003

4.36

0.007896481

0.008912419

0.0000794312

48

12/1/2003

4.3

0.006018034

0.007033971

0.0000494768

49

12/8/2003

4.26

0.004058856

0.005074794

0.0000257535

50

12/15/2003

4.28

-0.00203417

-0.001018232

0.0000010368

51

12/22/2003

4.26

0.00203417

0.003050108

0.0000093032

52

12/29/2003

4.24

0.002043743

0.00305968

0.0000093616

53

1/5/2004

4.3

-0.006102599

-0.005086661

0.0000258741

54

1/12/2004

4.62

-0.03117352

-0.030157582

0.0009094798

55

1/19/2004

4.66

-0.003743941

-0.002728003

0.0000074420

56

1/26/2004

4.6

0.005628085

0.006644023

0.0000441430

57

2/4/2004

4.62

-0.001884144

-0.000868206

0.0000007538

58

2/9/2004

4.38

0.023167865

0.024183803

0.0005848563

59

2/16/2004

4.36

0.001987621

0.003003559

0.0000090214

60

2/24/2004

4.48

-0.011791525

-0.010775587

0.0001161133

61

3/1/2004

4.42

0.005855745

0.006871682

0.0000472200

62

3/8/2004

4.44

-0.001960701

-0.000944763

0.0000008926

63

3/15/2004

4.3

0.013914515

0.014930452

0.0002229184

64

3/22/2004

4.3

0

0.001015938

0.0000010321

65

3/29/2004

4.3

0

0.001015938

0.0000010321

66

4/5/2004

4.5

-0.019744058

-0.01872812

0.0003507425

67

4/12/2004

4.68

-0.017033339

-0.016017402

0.0002565572

68

4/19/2004

4.6

0.007488021

0.008503959

0.0000723173

69

4/26/2004

3.78

0.085266032

0.08628197

0.0074445783

70

5/3/2004

3.74

0.004620198

0.005636135

0.0000317660

71

5/10/2004

3.72

0.002328662

0.0033446

0.0000111863

72

5/17/2004

3.56

0.019092942

0.02010888

0.0004043670

73

5/24/2004

3.74

-0.021421604

-0.020405667

0.0004163912

74

5/31/2004

3.7

0.004669878

0.005685816

0.0000323285

75

6/7/2004

3.68

0.002353905

0.003369843

0.0000113558

76

6/14/2004

3.58

0.011964792

0.01298073

0.0001684993

77

6/21/2004

3.44

0.017324584

0.018340522

0.0003363747

78

6/28/2004

3.24

0.026013432

0.02702937

0.0007305868

79

7/5/2004

3.18

0.00811789

0.009133828

0.0000834268

80

7/12/2004

3.32

-0.018710964

-0.017695026

0.0003131139

81

7/19/2004

3.3

0.002624144

0.003640082

0.0000132502

82

7/26/2004

3.2

0.013363962

0.014379899

0.0002067815

83

8/2/2004

3.22

-0.002705893

-0.001689956

0.0000028560

84

8/9/2004

3.2

0.002705893

0.003721831

0.0000138520

85

8/16/2004

3.12

0.010995384

0.012011322

0.0001442719

86

8/23/2004

3

0.017033339

0.018049277

0.0003257764

87

8/30/2004

3.14

-0.019808393

-0.018792456

0.0003531564

88

9/6/2004

3.14

0

0.001015938

0.0000010321

89

9/13/2004

3.16

-0.002757435

-0.001741497

0.0000030328

90

9/20/2004

3.34

-0.024059384

-0.023043446

0.0005310004

91

9/27/2004

3.3

0.005232527

0.006248465

0.0000390433

92

10/4/2004

3.34

-0.005232527

-0.004216589

0.0000177796

93

10/11/2004

3.42

-0.010279639

-0.009263702

0.0000858162

94

10/18/2004

3.36

0.007686829

0.008702766

0.0000757381

95

10/25/2004

3.4

-0.00513964

-0.004123702

0.0000170049

96

11/1/2004

3.48

-0.010100327

-0.009084389

0.0000825261

97

11/8/2004

3.48

0

0.001015938

0.0000010321

98

11/15/2004

3.54

-0.007424018

-0.00640808

0.0000410635

99

11/22/2004

3.5

0.004935218

0.005951155

0.0000354163

100

12/6/2004

3.5

0

0.001015938

0.0000010321

101

12/13/2004

3.44

0.007509602

0.008525539

0.0000726848

102

12/20/2004

3.5

-0.007509602

-0.006493664

0.0000421677

103

12/27/2004

3.52

-0.002474619

-0.001458681

0.0000021278

104

1/3/2005

3.58

-0.007340363

-0.006324425

0.0000399984

105

1/10/2005

3.8

-0.02590057

-0.024884632

0.0006192449

106

1/17/2005

3.9

-0.01128101

-0.010265073

0.0001053717

107

1/24/2005

3.8

0.01128101

0.012296948

0.0001512149

108

1/31/2005

3.82

-0.002279766

-0.001263829

0.0000015973

109

2/7/2005

3.8

0.002279766

0.003295704

0.0000108617

110

2/14/2005

3.8

0

0.001015938

0.0000010321

111

2/21/2005

3.84

-0.004547628

-0.00353169

0.0000124728

112

2/28/2005

3.88

-0.004500501

-0.003484564

0.0000121422

113

3/7/2005

3.86

0.002244421

0.003260359

0.0000106299

114

3/14/2005

3.82

0.004523942

0.005539879

0.0000306903

115

3/21/2005

3.8

0.002279766

0.003295704

0.0000108617

116

3/28/2005

3.8

0

0.001015938

0.0000010321

117

4/4/2005

3.74

0.006911994

0.007927932

0.0000628521

118

4/11/2005

3.7

0.004669878

0.005685816

0.0000323285

119

4/18/2005

3.74

-0.004669878

-0.00365394

0.0000133513

120

4/25/2005

3.76

-0.002316243

-0.001300305

0.0000016908

121

5/3/2005

3.68

0.009340026

0.010355964

0.0001072460

122

5/9/2005

3.7

-0.002353905

-0.001337968

0.0000017902

123

5/16/2005

3.68

0.002353905

0.003369843

0.0000113558

124

5/24/2005

3.58

0.011964792

0.01298073

0.0001684993

125

5/30/2005

3.52

0.007340363

0.008356301

0.0000698278

126

6/6/2005

3.32

0.02540458

0.026420517

0.0006980437

127

6/13/2005

3.22

0.013282212

0.01429815

0.0002044371

128

6/20/2005

3.32

-0.013282212

-0.012266274

0.0001504615

129

6/27/2005

3.28

0.00526424

0.006280178

0.0000394406

130

7/4/2005

3.46

-0.023202255

-0.022186317

0.0004922327

131

7/11/2005

3.3

0.020562159

0.021578097

0.0004656143

132

7/18/2005

3.32

-0.002624144

-0.001608206

0.0000025863

133

7/25/2005

3.3

0.002624144

0.003640082

0.0000132502

134

8/1/2005

3.3

0

0.001015938

0.0000010321

135

8/8/2005

3.62

-0.040194631

-0.039178693

0.0015349700

136

8/15/2005

3.6

0.00240607

0.003422007

0.0000117101

137

8/22/2005

3.6

0

0.001015938

0.0000010321

138

8/29/2005

3.5

0.012234456

0.013250394

0.0001755729

139

9/5/2005

3.5

0

0.001015938

0.0000010321

140

9/12/2005

3.46

0.004991946

0.006007883

0.0000360947

141

9/19/2005

3.64

-0.022025285

-0.021009347

0.0004413927

142

9/26/2005

3.6

0.004798883

0.005814821

0.0000338121

143

10/3/2005

3.62

-0.00240607

-0.001390132

0.0000019325

144

10/10/2005

3.72

-0.011834369

-0.010818432

0.0001170385

145

10/17/2005

3.72

0

0.001015938

0.0000010321

146

10/24/2005

3.68

0.004695121

0.005711059

0.0000326162

147

10/31/2005

3.72

-0.004695121

-0.003679183

0.0000135364

148

11/7/2005

3.7

0.002341216

0.003357154

0.0000112705

149

11/14/2005

3.74

-0.004669878

-0.00365394

0.0000133513

150

11/21/2005

3.74

0

0.001015938

0.0000010321

151

11/28/2005

3.72

0.002328662

0.0033446

0.0000111863

152

12/5/2005

3.76

-0.004644905

-0.003628967

0.0000131694

153

12/12/2005

3.72

0.004644905

0.005660843

0.0000320451

154

12/19/2005

3.74

-0.002328662

-0.001312725

0.0000017232

155

12/26/2005

3.82

-0.009191761

-0.008175823

0.0000668441

156

1/3/2006

4.1

-0.030720494

-0.029704556

0.0008823607

157

1/9/2006

4.12

-0.002113359

-0.001097422

0.0000012043

158

1/16/2006

4.02

0.010671163

0.011687101

0.0001365883

159

1/23/2006

3.94

0.008729831

0.009745769

0.0000949800

160

2/6/2006

4.16

-0.023597109

-0.022581171

0.0005099093

161

2/13/2006

4.14

0.00209299

0.003108927

0.0000096654

162

2/20/2006

4.04

0.010618976

0.011634914

0.0001353712

163

2/27/2006

3.98

0.006498293

0.007514231

0.0000564637

164

3/6/2006

4.04

-0.006498293

-0.005482355

0.0000300562

165

3/13/2006

3.88

0.01754964

0.018565577

0.0003446807

166

3/20/2006

3.8

0.009048129

0.010064067

0.0001012854

167

3/27/2006

3.82

-0.002279766

-0.001263829

0.0000015973

168

4/3/2006

3.78

0.004571563

0.005587501

0.0000312202

169

4/10/2006

3.8

-0.002291797

-0.001275859

0.0000016278

170

4/17/2006

4.32

-0.05570015

-0.054684212

0.0029903631

171

4/24/2006

4.22

0.010171296

0.011187234

0.0001251542

172

5/2/2006

4.1

0.012528594

0.013544532

0.0001834543

173

5/8/2006

4.22

-0.012528594

-0.011512657

0.0001325413

174

5/15/2006

4.72

-0.048629548

-0.04761361

0.0022670559

175

5/22/2006

4.64

0.007424018

0.008439956

0.0000712329

176

5/29/2006

4.68

-0.003727873

-0.002711935

0.0000073546

177

6/5/2006

4.68

0

0.001015938

0.0000010321

178

6/12/2006

4.68

0

0.001015938

0.0000010321

179

6/19/2006

4.64

0.003727873

0.00474381

0.0000225037

180

6/26/2006

4.7

-0.005579877

-0.00456394

0.0000208295

181

7/3/2006

4.66

0.003711941

0.004727879

0.0000223528

182

7/10/2006

4.82

-0.014661122

-0.013645184

0.0001861910

183

7/17/2006

4.7

0.01094918

0.011965118

0.0001431640

184

7/24/2006

4.62

0.007455882

0.00847182

0.0000717717

185

7/31/2006

4.72

-0.009300023

-0.008284085

0.0000686261

186

8/7/2006

4.88

-0.014477823

-0.013461886

0.0001812224

187

8/14/2006

4.84

0.00357446

0.004590398

0.0000210718

188

8/21/2006

4.9

-0.005350718

-0.004334781

0.0000187903

189

8/28/2006

4.82

0.007149042

0.00816498

0.0000666669

190

9/4/2006

4.84

-0.001798323

-0.000782386

0.0000006121

191

9/11/2006

4.9

-0.005350718

-0.004334781

0.0000187903

192

9/18/2006

4.96

-0.005285596

-0.004269659

0.0000182300

193

9/25/2006

4.94

0.001754728

0.002770665

0.0000076766

194

10/2/2006

4.94

0

0.001015938

0.0000010321

195

10/9/2006

4.96

-0.001754728

-0.00073879

0.0000005458

196

10/16/2006

5.1

-0.0120885

-0.011072562

0.0001226016

197

10/26/2006

4.94

0.013843227

0.014859165

0.0002207948

198

10/30/2006

4.94

0

0.001015938

0.0000010321

199

11/6/2006

4.96

-0.001754728

-0.00073879

0.0000005458

200

11/13/2006

5

-0.003488328

-0.00247239

0.0000061127

201

11/20/2006

4.98

0.001740662

0.002756599

0.0000075988

202

11/27/2006

5

-0.001740662

-0.000724724

0.0000005252

203

12/4/2006

5.15

-0.012837225

-0.011821287

0.0001397428

204

12/11/2006

5.25

-0.008352074

-0.007336137

0.0000538189

205

12/18/2006

5.2

0.00415596

0.005171897

0.0000267485

206

12/26/2006

5.15

0.004196115

0.005212052

0.0000271655

207

1/3/2007

5.4

-0.020586531

-0.019570593

0.0003830081

208

1/8/2007

5.65

-0.019654688

-0.01863875

0.0003474030

209

1/15/2007

5.8

-0.011379546

-0.010363608

0.0001074044

210

1/22/2007

5.85

-0.003727873

-0.002711935

0.0000073546

211

1/29/2007

6.25

-0.028724151

-0.027708214

0.0007677451

212

2/5/2007

6.2

0.003488328

0.004504266

0.0000202884

213

2/12/2007

5.95

0.017874724

0.018890661

0.0003568571

214

2/21/2007

6.05

-0.007238409

-0.006222471

0.0000387191

215

2/26/2007

6

0.003604124

0.004620062

0.0000213450

216

3/5/2007

5.4

0.045757491

0.046773428

0.0021877536

217

3/12/2007

5.9

-0.038458252

-0.037442314

0.0014019269

218

3/19/2007

5.7

0.014977156

0.015993094

0.0002557790

219

3/26/2007

5.6

0.007686829

0.008702766

0.0000757381

220

4/2/2007

5.7

-0.007686829

-0.006670891

0.0000445008

221

4/9/2007

5.7

0

0.001015938

0.0000010321

222

4/16/2007

5.8

-0.007553138

-0.0065372

0.0000427350

223

4/23/2007

6.4

-0.04275198

-0.041736043

0.0017418973

224

4/30/2007

6.4

0

0.001015938

0.0000010321

225

5/7/2007

6.6

-0.013363962

-0.012348024

0.0001524737

226

5/14/2007

6.5

0.006630579

0.007646517

0.0000584692

227

5/21/2007

6.55

-0.003327943

-0.002312006

0.0000053454

228

5/28/2007

6.7

-0.009833503

-0.008817565

0.0000777495

229

6/4/2007

7.4

-0.043156917

-0.042140979

0.0017758621

230

6/11/2007

6.7

0.043156917

0.044172855

0.0019512411

231

6/18/2007

6.6

0.006530867

0.007546805

0.0000569543

232

6/25/2007

6.65

-0.00327771

-0.002261772

0.0000051156

233

7/2/2007

6.65

0

0.001015938

0.0000010321

234

7/9/2007

6.95

-0.019163159

-0.018147222

0.0003293217

235

7/16/2007

7

-0.003113235

-0.002097298

0.0000043987

236

7/23/2007

6.75

0.015794267

0.016810205

0.0002825830

237

7/30/2007

6.3

0.029963223

0.030979161

0.0009597084

238

8/6/2007

6.05

0.017585175

0.018601113

0.0003460014

239

8/13/2007

6.05

0

0.001015938

0.0000010321

240

8/20/2007

6.45

-0.02780434

-0.026788402

0.0007176185

241

8/27/2007

6.55

-0.006681585

-0.005665648

0.0000320996

242

9/3/2007

6.6

-0.003302636

-0.002286698

0.0000052290

243

9/10/2007

6.45

0.009984221

0.011000159

0.0001210035

244

9/17/2007

6.35

0.006785989

0.007801927

0.0000608701

245

9/24/2007

6.45

-0.006785989

-0.005770052

0.0000332935

246

10/1/2007

6.5

-0.003353642

-0.002337704

0.0000054649

247

10/8/2007

6.6

-0.006630579

-0.005614641

0.0000315242

248

10/16/2007

6.45

0.009984221

0.011000159

0.0001210035

249

10/22/2007

6.7

-0.016515088

-0.01549915

0.0002402237

250

10/29/2007

7.05

-0.022114314

-0.021098377

0.0004451415

251

11/5/2007

7.05

0

0.001015938

0.0000010321

252

11/12/2007

7.1

-0.003069232

-0.002053294

0.0000042160

253

11/19/2007

7.45

-0.020897924

-0.019881986

0.0003952934

254

11/26/2007

7.4

0.002924553

0.003940491

0.0000155275

255

12/3/2007

7.05

0.021042603

0.02205854

0.0004865792

256

12/10/2007

6.9

0.009340026

0.010355964

0.0001072460

257

12/17/2007

6.15

0.049973975

0.050989913

0.0025999712

258

12/24/2007

6.65

-0.03394653

-0.032930592

0.0010844239

259

12/31/2007

6.4

0.016641671

0.017657609

0.0003117912

AVERAGE RETURN

-0.001015938

Total Return

0.063106907

Stdev

0.015670104

Variance

0.0002446

Stdev

0.015639706

KLCI

DATE

ADJ CLOSE

RETURN

km-k barm

(km-k barm)2

(ks-k bars)(kM-k barM)

1/6/2003

633.58

 

 

 

 

1/13/2003

637.39

-0.002603786

-0.001214034

0.0000014739

0.0000136197

1/20/2003

670.16

-0.021773257

-0.020383505

0.0004154873

0.0004112038

1/27/2003

667.36

0.00181833

0.003208082

0.0000102918

0.0000635173

2/5/2003

664.75

0.001701826

0.003091578

0.0000095579

0.0000407527

2/10/2003

661.32

0.002246689

0.003636441

0.0000132237

0.0000308461

2/17/2003

657.76

0.002344198

0.00373395

0.0000139424

0.0001715281

2/24/2003

654.58

0.002104728

0.00349448

0.0000122114

-0.0001708714

3/3/2003

647.04

0.005031602

0.006421354

0.0000412338

0.0000065237

3/10/2003

635.6

0.007747241

0.009136993

0.0000834846

0.0000548940

3/17/2003

628.37

0.004968446

0.006358198

0.0000404267

0.0000547639

3/24/2003

632.79

-0.003044165

-0.001654413

0.0000027371

0.0000108881

3/31/2003

634.55

-0.001206241

0.000183511

0.0000000337

0.0000011132

4/7/2003

630.91

0.002498437

0.003888189

0.0000151180

-0.0000156852

4/14/2003

627.74

0.002187608

0.00357736

0.0000127975

0.0000217000

4/21/2003

634.89

-0.004918684

-0.003528932

0.0000124534

0.0000318521

4/28/2003

627.32

0.005209353

0.006599105

0.0000435482

0.0000067043

5/5/2003

627.62

-0.000207641

0.001182111

0.0000013974

0.0000012010

5/12/2003

631.12

-0.002415169

-0.001025417

0.0000010515

-0.0000035938

5/19/2003

636.09

-0.003406625

-0.002016873

0.0000040678

-0.0000020490

5/26/2003

653

-0.011394613

-0.010004861

0.0001000972

-0.0000101643

6/2/2003

672.92

-0.013050255

-0.011660503

0.0001359673

0.0000171743

6/9/2003

682.18

-0.005935546

-0.004545794

0.0000206642

0.0000836295

6/16/2003

688.08

-0.003739952

-0.0023502

0.0000055234

-0.0000023877

6/23/2003

683.47

0.002919478

0.00430923

0.0000185695

0.0000353121

6/30/2003

691.97

-0.00536781

-0.003978058

0.0000158249

-0.0000233450

7/7/2003

726.1

-0.020909171

-0.019519419

0.0003810077

0.0005332249

7/14/2003

724.48

0.000970036

0.002359788

0.0000055686

0.0000132424

7/21/2003

718.44

0.003635897

0.005025649

0.0000252571

-0.0000521839

7/28/2003

711.42

0.004264434

0.005654186

0.0000319698

-0.0000446284

8/4/2003

723.35

-0.007222416

-0.005832664

0.0000340200

0.0000323586

8/11/2003

722.19

0.000697015

0.002086767

0.0000043546

0.0000066627

8/18/2003

729.26

-0.004230923

-0.002841171

0.0000080723

0.0001152808

8/25/2003

744.21

-0.008813108

-0.007423356

0.0000551062

0.0000652362

9/2/2003

743.17

0.000607331

0.001997083

0.0000039883

0.0000098076

9/8/2003

756.85

-0.007921645

-0.006531893

0.0000426656

0.0000061135

9/15/2003

741.52

0.008886946

0.010276698

0.0001056105

0.0002785140

9/22/2003

745.18

-0.002138321

-0.000748569

0.0000005604

0.0000053736

9/29/2003

742.97

0.001289912

0.002679664

0.0000071806

0.0000191522

10/6/2003

740.58

0.001399299

0.002789051

0.0000077788

-0.0000085937

10/13/2003

794.4

-0.030467256

-0.029077504

0.0008455012

0.0005498359

10/20/2003

782.09

0.006782503

0.008172255

0.0000667857

-0.0001321223

10/27/2003

802.54

-0.011209955

-0.009820203

0.0000964364

0.0001700019

11/3/2003

817.92

-0.00824414

-0.006854388

0.0000469826

-0.0000316677

11/10/2003

805.92

0.006418894

0.007808646

0.0000609750

0.0002267995

11/17/2003

791.3

0.007950768

0.00934052

0.0000872453

0.0000639404

11/27/2003

785.52

0.003183919

0.004573671

0.0000209185

0.0000407625

12/1/2003

779.24

0.003486009

0.004875761

0.0000237730

0.0000342960

12/8/2003

787.05

-0.004331086

-0.002941334

0.0000086514

-0.0000149267

12/15/2003

792.9

-0.003216095

-0.001826343

0.0000033355

0.0000018596

12/22/2003

769.7

0.012896931

0.014286683

0.0002041093

0.0000435759

12/29/2003

780.19

-0.005878893

-0.004489141

0.0000201524

-0.0000137353

1/5/2004

788.58

-0.004645379

-0.003255627

0.0000105991

0.0000165603

1/12/2004

825.46

-0.019850275

-0.018460523

0.0003407909

0.0005567247

1/19/2004

818.07

0.003905566

0.005295318

0.0000280404

-0.0000144456

1/26/2004

825.04

-0.003684538

-0.002294786

0.0000052660

-0.0000152466

2/4/2004

818.16

0.003636762

0.005026514

0.0000252658

-0.0000043641

2/9/2004

815.5

0.001414278

0.00280403

0.0000078626

0.0000678121

2/16/2004

826.13

-0.005624428

-0.004234676

0.0000179325

-0.0000127191

2/24/2004

864

-0.019465349

-0.018075597

0.0003267272

0.0001947752

3/1/2004

878.17

-0.007064854

-0.005675102

0.0000322068

-0.0000389975

3/8/2004

885.65

-0.00368353

-0.002293778

0.0000052614

0.0000021671

3/15/2004

884.51

0.00055938

0.001949132

0.0000037991

0.0000291014

3/22/2004

916.75

-0.015548171

-0.014158419

0.0002004608

-0.0000143841

3/29/2004

896.38

0.009758761

0.011148513

0.0001242893

0.0000113262

4/5/2004

887.94

0.004108537

0.005498289

0.0000302312

-0.0001029726

4/12/2004

883.15

0.002349147

0.003738899

0.0000139794

-0.0000598875

4/19/2004

861.92

0.010567515

0.011957267

0.0001429762

0.0001016841

4/26/2004

875.81

-0.006942941

-0.005553189

0.0000308379

-0.0004791401

5/5/2004

840.42

0.017913521

0.019303273

0.0003726163

0.0001087959

5/10/2004

834.06

0.003299085

0.004688837

0.0000219852

0.0000156823

5/17/2004

794

0.021376791

0.022766543

0.0005183155

0.0004578097

5/24/2004

793.3

0.000383048

0.0017728

0.0000031428

-0.0000361752

5/31/2004

808.89

-0.008452012

-0.00706226

0.0000498755

-0.0000401547

6/7/2004

804.34

0.0024498

0.003839552

0.0000147422

0.0000129387

6/14/2004

823.5

-0.010223937

-0.008834185

0.0000780428

-0.0001146742

6/21/2004

822.4

0.000580502

0.001970254

0.0000038819

0.0000361355

6/28/2004

823.12

-0.000380053

0.001009699

0.0000010195

0.0000272915

7/5/2004

831.64

-0.004472216

-0.003082464

0.0000095016

-0.0000281547

7/12/2004

853.89

-0.011466558

-0.010076806

0.0001015420

0.0001783093

7/19/2004

842.81

0.005672248

0.007062

0.0000498718

0.0000257063

7/26/2004

838.19

0.002387205

0.003776957

0.0000142654

0.0000543123

8/2/2004

832.69

0.002859126

0.004248878

0.0000180530

-0.0000071804

8/9/2004

818.84

0.0072843

0.008674051

0.0000752392

0.0000322834

8/16/2004

816.68

0.00114713

0.002536881

0.0000064358

0.0000304713

8/23/2004

808.92

0.004146347

0.005536099

0.0000306484

0.0000999226

8/30/2004

820.56

-0.006204769

-0.004815017

0.0000231844

0.0000904860

9/6/2004

842.87

-0.011650254

-0.010260502

0.0001052779

-0.0000104240

9/13/2004

849.72

-0.003515244

-0.002125492

0.0000045177

0.0000037015

9/20/2004

860

-0.005222611

-0.003832859

0.0000146908

0.0000883223

9/27/2004

854.08

0.002999899

0.004389651

0.0000192690

0.0000274286

10/4/2004

855.74

-0.000843281

0.000546471

0.0000002986

-0.0000023042

10/11/2004

860.87

-0.002595741

-0.001205989

0.0000014544

0.0000111719

10/18/2004

851.65

0.004676423

0.006066175

0.0000367985

0.0000527925

10/25/2004

853.71

-0.001049218

0.000340534

0.0000001160

-0.0000014043

11/1/2004

860.09

-0.00323353

-0.001843778

0.0000033995

0.0000167496

11/8/2004

871.61

-0.005778306

-0.004388554

0.0000192594

-0.0000044585

11/22/2004

897.11

-0.012523493

-0.011133742

0.0001239602

0.0000713459

11/29/2004

909.37

-0.005894925

-0.004505173

0.0000202966

-0.0000268110

12/6/2004

917.43

-0.003832315

-0.002442563

0.0000059661

-0.0000024815

12/13/2004

894.67

0.010910063

0.012299815

0.0001512854

0.0001048626

12/20/2004

902.22

-0.003649575

-0.002259823

0.0000051068

0.0000146745

12/27/2004

906.2

-0.001911608

-0.000521856

0.0000002723

0.0000007612

1/3/2005

907.02

-0.000392806

0.000996946

0.0000009939

-0.0000063051

1/10/2005

917.42

-0.00495134

-0.003561588

0.0000126849

0.0000886288

1/17/2005

929.42

-0.00564381

-0.004254058

0.0000180970

0.0000436682

1/24/2005

926.65

0.001296284

0.002686036

0.0000072148

0.0000330300

1/31/2005

915.41

0.005300078

0.00668983

0.0000447538

-0.0000084548

2/7/2005

908.83

0.003132998

0.00452275

0.0000204553

0.0000149056

2/14/2005

915.23

-0.003047593

-0.001657841

0.0000027484

-0.0000016843

2/21/2005

908.79

0.003066708

0.00445646

0.0000198600

-0.0000157388

2/28/2005

905.06

0.001786168

0.00317592

0.0000100865

-0.0000110667

3/7/2005

887.24

0.008636258

0.01002601

0.0001005209

0.0000326884

3/14/2005

901.07

-0.006717417

-0.005327666

0.0000283840

-0.0000295146

3/21/2005

893.96

0.003440444

0.004830196

0.0000233308

0.0000159189

3/28/2005

883.4

0.005160692

0.006550444

0.0000429083

0.0000066548

4/4/2005

874.34

0.004477048

0.0058668

0.0000344193

0.0000465116

4/11/2005

864.39

0.004970613

0.006360365

0.0000404542

0.0000361639

4/18/2005

871.85

-0.003732038

-0.002342286

0.0000054863

0.0000085586

4/25/2005

877.29

-0.002701407

-0.001311655

0.0000017204

0.0000017056

5/3/2005

878.79

-0.000741927

0.000647825

0.0000004197

0.0000067088

5/9/2005

901.39

-0.011027629

-0.009637877

0.0000928887

0.0000128952

5/16/2005

890.89

0.005088652

0.006478404

0.0000419697

0.0000218312

5/24/2005

884.08

0.003332518

0.00472227

0.0000222998

0.0000612985

5/30/2005

869

0.007471789

0.008861541

0.0000785269

0.0000740497

6/6/2005

865.97

0.00151693

0.002906682

0.0000084488

0.0000767960

6/13/2005

890.88

-0.012316362

-0.01092661

0.0001193908

-0.0001562303

6/20/2005

897.17

-0.003055534

-0.001665782

0.0000027748

0.0000204329

6/27/2005

898.18

-0.000488637

0.000901115

0.0000008120

0.0000056592

7/4/2005

893.8

0.00212303

0.003512782

0.0000123396

-0.0000779357

7/11/2005

904.49

-0.005163419

-0.003773667

0.0000142406

-0.0000814286

7/18/2005

917.43

-0.006169168

-0.004779416

0.0000228428

0.0000076863

7/25/2005

939.18

-0.010175898

-0.008786146

0.0000771964

-0.0000319823

8/1/2005

938.3

0.000407119

0.001796871

0.0000032287

0.0000018255

8/8/2005

943.05

-0.002193003

-0.000803251

0.0000006452

0.0000314703

8/15/2005

937.32

0.002646836

0.004036588

0.0000162940

0.0000138132

8/22/2005

925.29

0.005610015

0.006999767

0.0000489967

0.0000071113

8/29/2005

916.02

0.004372913

0.005762665

0.0000332083

0.0000763576

9/5/2005

908.84

0.003417523

0.004807275

0.0000231099

0.0000048839

9/12/2005

917.1

-0.00392926

-0.002539508

0.0000064491

-0.0000152571

9/19/2005

920.85

-0.001772199

-0.000382447

0.0000001463

0.0000080350

9/26/2005

921.76

-0.000428965

0.000960787

0.0000009231

0.0000055868

10/3/2005

926.84

-0.002386911

-0.000997159

0.0000009943

0.0000013862

10/10/2005

925.56

0.000600191

0.001989943

0.0000039599

-0.0000215281

10/17/2005

926.48

-0.000431471

0.000958281

0.0000009183

0.0000009736

10/24/2005

909.68

0.007947402

0.009337154

0.0000871824

0.0000533250

10/31/2005

905.38

0.00205775

0.003447502

0.0000118853

-0.0000126840

11/7/2005

914.7

-0.004447782

-0.00305803

0.0000093516

-0.0000102663

11/14/2005

897.92

0.008041034

0.009430786

0.0000889397

-0.0000344595

11/21/2005

901.6

-0.001776258

-0.000386506

0.0000001494

-0.0000003927

11/28/2005

904.18

-0.001240993

0.000148759

0.0000000221

0.0000004975

12/5/2005

884.72

0.009449051

0.010838803

0.0001174797

-0.0000393337

12/12/2005

898.41

-0.006668732

-0.00527898

0.0000278676

-0.0000298835

12/19/2005

893.6

0.002331417

0.003721169

0.0000138471

-0.0000048849

12/27/2005

892.46

0.0005544

0.001944152

0.0000037797

-0.0000158950

1/3/2006

899.18

-0.003257878

-0.001868126

0.0000034899

0.0000554919

1/9/2006

913.65

-0.00693322

-0.005543468

0.0000307300

0.0000060835

1/16/2006

911.81

0.000875508

0.00226526

0.0000051314

0.0000264743

1/23/2006

903.4

0.004024265

0.005414017

0.0000293116

0.0000527638

2/6/2006

928.38

-0.01184569

-0.010455938

0.0001093266

0.0002361073

2/13/2006

923.24

0.002411164

0.003800916

0.0000144470

0.0000118168

2/20/2006

927.95

-0.002209964

-0.000820212

0.0000006727

-0.0000095431

2/27/2006

924.92

0.001420406

0.002810158

0.0000078970

0.0000211162

3/6/2006

916.74

0.003857989

0.005247741

0.0000275388

-0.0000287700

3/13/2006

923.12

-0.003011979

-0.001622227

0.0000026316

-0.0000301176

3/20/2006

922.53

0.000277662

0.001667414

0.0000027803

0.0000167810

3/27/2006

926.49

-0.001860238

-0.000470486

0.0000002214

0.0000005946

4/3/2006

926.63

-6.56204E-05

0.001324132

0.0000017533

0.0000073986

4/10/2006

944

-0.008065638

-0.006675886

0.0000445675

0.0000085175

4/17/2006

939.77

0.001950417

0.003340169

0.0000111567

-0.0001826545

4/24/2006

948.34

-0.003942492

-0.00255274

0.0000065165

-0.0000285581

5/2/2006

947.8

0.000247365

0.001637117

0.0000026802

0.0000221740

5/8/2006

962.45

-0.006661472

-0.005271721

0.0000277910

0.0000606915

5/15/2006

963.13

-0.000306734

0.001083018

0.0000011729

-0.0000515664

5/22/2006

944.25

0.008597917

0.009987669

0.0000997535

0.0000842955

5/29/2006

931.11

0.006086003

0.007475755

0.0000558869

-0.0000202738

6/5/2006

931.2

-4.19764E-05

0.001347776

0.0000018165

0.0000013693

6/12/2006

916.01

0.007142752

0.008532504

0.0000728036

0.0000086685

6/19/2006

895.14

0.010009251

0.011399002

0.0001299373

0.0000540747

6/26/2006

906.65

-0.005548702

-0.00415895

0.0000172969

0.0000189812

7/3/2006

914.61

-0.00379628

-0.002406528

0.0000057914

-0.0000113778

7/10/2006

926.37

-0.005548537

-0.004158785

0.0000172955

0.0000567474

7/17/2006

912.02

0.00678012

0.008169872

0.0000667468

0.0000977535

7/24/2006

924.44

-0.005874367

-0.004484615

0.0000201118

-0.0000379928

7/31/2006

935.31

-0.005076849

-0.003687097

0.0000135947

0.0000305442

8/7/2006

939.03

-0.00172389

-0.000334138

0.0000001116

0.0000044981

8/14/2006

942.88

-0.001776956

-0.000387205

0.0000001499

-0.0000017774

8/21/2006

941.49

0.000640712

0.002030464

0.0000041228

-0.0000088016

8/28/2006

950.61

-0.004186667

-0.002796915

0.0000078227

-0.0000228368

9/4/2006

960.82

-0.004639656

-0.003249904

0.0000105619

0.0000025427

9/11/2006

956.53

0.001943439

0.003333191

0.0000111102

-0.0000144487

9/18/2006

958.58

-0.000929768

0.000459984

0.0000002116

-0.0000019640

9/25/2006

964.07

-0.002480205

-0.001090453

0.0000011891

-0.0000030213

10/2/2006

967.17

-0.001394248

-4.49634E-06

0.0000000000

-0.0000000046

10/9/2006

971.48

-0.001931047

-0.000541295

0.0000002930

0.0000003999

10/16/2006

983.22

-0.00521684

-0.003827088

0.0000146466

0.0000423757

10/26/2006

979

0.001868012

0.003257764

0.0000106130

0.0000484077

10/30/2006

986.47

-0.00330119

-0.001911438

0.0000036536

-0.0000019419

11/6/2006

998.25

-0.005155437

-0.003765685

0.0000141804

0.0000027820

11/13/2006

1020.68

-0.009650286

-0.008260534

0.0000682364

0.0000204233

11/20/2006

1040.75

-0.008456815

-0.007067063

0.0000499434

-0.0000194811

11/27/2006

1060.67

-0.008233866

-0.006844114

0.0000468419

0.0000049601

12/4/2006

1079.77

-0.007750972

-0.00636122

0.0000404651

0.0000751978

12/11/2006

1103.89

-0.009594542

-0.00820479

0.0000673186

0.0000601915

12/18/2006

1090.01

0.005495317

0.006885069

0.0000474042

0.0000356089

12/26/2006

1079.3

0.004288305

0.005678057

0.0000322403

0.00


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