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Bonadio Ekectrical Supplies distributes electrical components to the construction idustry. The company began as a local suookier 15 yrs ago and has rwon rapidly to become a major competitor in the north central US. As the business grew and the variety of components to be stocked expanded, Bonadio aquired a compauter and implemetned an inventory control system. Other applications such as accounts receivable, accounts payable and payroll and sales analysis were gradually computerized as each function expanded. Because if its operational importance, the inventory system has been upgraded to an online syste, while all other applications are operating in bach mode. Over the years, the company has developed or acquired more than 100 applications porgrams and maintains hundreds of files. Bonadio faces stiff competitiors from local suppliers throughout its marketing area. At a managment meeting the sales manager complained about the difficulty in obtaining immediate currnet information to respond to customer inquiries. Other maangers stated that they also had difficulty obtaining timely data from teh system. As a result the controller engaged a consulting firm to explore the situation. The consultant recommended installing a database mangerment system and the company complied empliying Jack Gibbons as the database adminstrator. At a recent mangement meeting Gibbons presented an overview of the BBMS. Gibbons explained that the database approch asssumes an orgranziational data oriented viewpoint assigned to applications, information is more appropariately used and managed for the entire organization. The operating system physically moves data to and from disk storage, while the DBM is the software prgram that controls the data definition library that programs and query software and teh taks of the application programmers and user are simplied. Under dtabase approach the data avalabke to all users within security guidelines
a. Explain the basic difference between a file oriented system and a database system.
b. Descrobe at least 3 advantages and at least 3 disadvantages of the database system.
c. Describe the duties and responsibilties of Jack Gibbons the database administrator.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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