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can have ramifications for server-side scalability For example, if we can be sure that a certain level of JavaScript/CSS/DHTML compatibility is supported by all of our clients, we might be able to implement a stylish user interface at a fraction of the normal cost, thereby reducing our serverside data transfer levels There are two major browsers at the time of this writing: Microsoft Internet Explorer (IE) and AOL/Netscape Navigator In mid-1998, the Gartner Group and others studied the browser market and found that IE and Navigator had roughly equal shares of the market This was a major shift from what was previously Netscape-dominated territory, so it was big news Since then, Netscape has rapidly lost ground and the company has been purchased by America Online Nevertheless, despite missing an entire version (Netscape 5), Navigator continues to exist in the form of Netscape 6 The most recent results from BrowserWatchcom (although unscientific) indicate that IE has at least 85 percent of the browser market The rest is made up of Netscape and a collection of more recent browsers, such as Opera It is not worthwhile to spend time discussing how to code for one browser over another There are plenty of books out there on such topics, and it is a landscape that will continue to change Instead, we'll take a simpler-is-better approach Since browser differences are likely to persist for years to come, it is better to know how to build Web applications that speak the most common version of the language of Web layout and presentation (ie, HTML and XML) Thus, our interface requirements will simply be sufficiency, clarity, optimization for lowbandwidth as much as generically possible, and browser independence



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FIGURE 12.9 The user types text into the rich text box and it wraps on the sphere. The sphere on the left has a white solid color brush assigned to the background of the textbox. The sphere on the right has no brush assigned.





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A more vexing issue once the data is returned by the remote service is what to do with it One approach is to parse everything and reinstantiate local native types For example, an XML response containing a price would be parsed and a new local floating-point value corresponding to the XML string-form of that price would be instantiated An alternative is to use XQuery-like technology to process an XML response into another XML document XQuery XQuery is a proposed standard for querying XML documents directly It is to XML documents what SQL is to relational databases a language for querying a specific store of data (relational in

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1 Portfolio theory A Understanding the relationship between portfolio risk and correlation is the key to modern portfolio theory B Markowitz portfolio theory is based on several important assumptions Under these assumptions, a portfolio is considered to be ef cient if no other portfolio offers a higher expected return with the same (or lower) risk or if no other portfolio offers lower risk with the same (or higher) return (1) Investors view investment alternatives as being represented by a probability distribution of expected returns over the same holding period (2) Investors maximize their one-period expected utility (3) Investors estimate risk of a portfolio on the basis of variability of expected returns (4) Investors base all decisions on expected return and risk (5) For a given level of risk, investors prefer higher returns to lower returns, or for a given return level, investors prefer less risk to more risk C The standard deviation of a portfolio is less than the weighted average standard deviation of the individual stocks in the portfolio An exception exists if the correlation coef cient of

which specific components are recuperatively added to or withdrawn from the reaction medium along the length of the reactor. The latter relationship is similar to that between a countercurrent heat exchanger reactor and the asymptotic limit of a reverse flow reactor at short cycle times [6]. These analogies become apparent when one compares the concentration profile in an adsorptive reactor concept for the denitrification of flue gas with the temperature profile for a reverse flow reactor [7] or with a catalytic membrane reactor for the same purpose [8] (Fig. 7.3). Despite their various similarities, each class of reactor nevertheless exhibits its own strengths and weaknesses, as can be illustrated by a comparison of adsorptive and membrane reactors (Tab. 7.1).

the case of SQL, hierarchical in the case of XQuery) XQuery is actually a stew of prior technologies such as Quilt, Xpath, and XQL It allows you not only to query a document, but also to simultaneously generate new XML based on the result The W3C working draft standard of XQuery is available at http://wwww3org/TR/xquery/

154 - Investment Planning the stocks in the portfolio is +1; then the standard deviation of the portfolio is equal to the simple weighted standard deviations of the individual stocks in the portfolio D The covariance of returns between stocks must be found in order to determine the standard deviation of a portfolio Recall that the covariance of two stocks is (cov1,2) = (r1,2)( 1)( 2) This can be rearranged to nd the correlation coef cient, which is r1,2 = (cov1,2)/ 1 2 E The standard deviation of a two-stock portfolio is portfolio = (W12 12 + W22 22 + 2W1W2 1 2r1,2)1/2 F Note that the correlation impacts only the risk of a portfolio The equation for expected return for a two-stock portfolio is unchanged W1ER2 + W2ER2 G When you combine stocks of equal returns and equal risk, but change the correlation coef cient to less than +1, the return is constant but the risk is less Portfolio risk declines when the r1,2 goes from +1 to 1 In fact, at 1 there would be no risk As correlation decreases, diversi cation increases H What we learn from modern portfolio theory is that the correlation coef cient is the engine that drives the whole theory of portfolio diversi cation The lower the correlation coef cient, the greater the diversi cation I Markowitz (father of the Portfolio Theory) constructed the ef cient frontier The ef cient frontier represents a set of portfolios that will give an investor the highest return at each level of risk (or the lowest risk for each level of return)

Although we don't want to delve into the details of XQuery here, we can give a quick example of how it's used Suppose we want to answer the following query about the video games document that was shown in Listing 12-4: Display all of the names and prices of stand-up model games Also suppose we want the answer to this query expressed in XML, for example, given the following XML file:

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< xml version="10" > <!DOCTYPE gameListDoc [ <!ELEMENT gameList (game)+> <!ELEMENT game (name, model, price)> <!ELEMENT name (#PCDATA)> <!ELEMENT model (#PCDATA)> <!ELEMENT price (#PCDATA)> ]> <gameList> <game> <name>Gorf</name> <model>stand-up</model> <price>50050</price> </game> <game> <name>Galaga</name> <model>cocktail</model> <price>119999</price> </game> </gameList>

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