How to Find the Inner and Outer Fences

One feature of a data set that is important to determine is if it contains any outliers. Outliers are intuitively thought of as values in our set of data that differ greatly from a majority of the rest of the data. Of course, this understanding of outliers is ambiguous. To be considered as an outlier, how much should the value deviate from the rest of the data? Is what one researcher calls an outlier going to match with another’s? In order to provide some consistency and a quantitative measure for the determination of outliers, we use inner and outer fences. To find the inner and outer fences of a set of data, we first need a few other descriptive statistics. We will begin by calculating quartiles. This will lead to the interquartile range. Finally, with these calculations behind us, we will be able to determine the inner and outer fences. Quartiles The first and third quartiles are part of the five number summary of any set of quantitative data. We begin by finding the median or the midway point of the data after all of the values are listed in ascending order. The values less than the median corresponding to roughly half of the data. We find the median of this half of the data set, and this is the first quartile. In a similar way, we now consider the upper half of the data set. If we find the median for this half of the data, then we have the third quartiles. These quartiles get their name from the fact that they split the data set into four equal sized portions, or quarters. So in other words, roughly 25% of all of the data values are less than the first quartile. In a similar way, approximately 75% of the data values are less than the third quartile. Interquartile Range We next need to find the interquartile range (IQR). This is easier to calculate than the first quartile q1 and the third quartile q3. All that we need to do is to take the difference of these two quartiles. This gives us the formula: IQR Q3 - Q1 The IQR tells us how spread out the middle half of our data set is. Find the Inner Fences We can now find the inner fences. We start with the IQR and multiply this number by 1.5. We then subtract this number from the first quartile. We also add this number to the third quartile. These two numbers form our inner fence. Find the Outer Fences For the outer fences, we start with the IQR and multiply this number by 3. We then subtract this number from the first quartile and add it to the third quartile. These two numbers are our outer fences. Detecting Outliers The detection of outliers now becomes as easy as determining where the data values lie in reference to our inner and outer fences. If a single data value is more extreme than either of our outer fences, then this is an outlier and is sometimes referred to as a strong outlier. If our data value is between a corresponding inner and outer fence, then this value is a suspected outlier or a mild outlier. We will see how this works with the example below. Example Suppose that we have calculated the first and third quartile of our data, and have found these values to the 50 and 60, respectively. The interquartile range IQR 60 – 50 10. Next, we see that 1.5 x IQR 15. This means that the inner fences are at 50 – 15 35 and 60 15 75. This is 1.5 x IQR less than the first quartile, and more than the third quartile. We now calculate 3 x IQR and see that this is 3 x 10 30. The outer fences are 3 x IQR more extreme that the first and third quartiles. This means that the outer fences are 50 - 30 20 and 60 30 90. Any data values that are less than 20 or greater than 90, are considered outliers. Any data values that are between 29 and 35 or between 75 and 90 are suspected outliers.

What is Plato trying to say in the Allegory of the Cave - Free Essay Example

Sample details Pages: 3 Words: 882 Downloads: 4 Date added: 2019/08/12 Category Philosophy Essay Level High school Tags: Allegory Of The Cave Essay Did you like this example? When he is approaching nearer to being and his eye is turned towards more real existence, he has a clearer vision (Plato, 2). Platos Allegory of the Cave can be interpreted in many different ways. It can be used to describe a variety of governments and its influence on the people, yet it can also be used in a religious sense as well. Don’t waste time! Our writers will create an original "What is Plato trying to say in the Allegory of the Cave?" essay for you Create order Even though Plato is writing from a non-Christian point of view, the Allegory of the Cave still serves as an illustration of a Christian Truth, that being those who are bonded to sin and darkness have difficulty pursuing righteousness and light, yet those who chose to seek the brighter light outside will benefit ones sanctification. At the beginning of the allegory, Plato describes the setting of the cave. The underground cave contains a mouth openly facing the light, which reaches along the cave. Those who are walking in the cave are bound by chains. The bindings are attached to their legs and necks, and while being forced to look only onward, it prevented the turning of their heads to see what was beyond the cave. On the other side, a blazing fire was used to cast the shadows of figures that were cast upon the walls of the cavern. The captives were only able to see those shadows, which they believed were their reality. The first part of the allegory is the bindings and the shadows. The cave that the people were in was a prison to them, and those in the cave have been enslaved since their childhoods. The prisoners are bound by chains, which made the prisoners unable to move. The shadows were cast upon the wall that the prisoners were forced to face. Since these shadows were the only thing the prisoners saw, they couldnt comprehend that there was a truer and greater reality waiting for them on the outside of the cave. If one was to attempt to look onward to the light outside, then he would experience severe suffering, for the light outside was so blinding. The prisoners were so used to the shadows, and the reality that they were forced to see, that they couldnt comprehend the light outside. These shadows were just a mere disguise, camouflaging the prisoners from what was real and true. Those who are bonded to sin have shadows in their own lives. They cannot see what is righteous and genuine, since th ey arent opening themselves up to the idea that the reality they see is simply an illusion. Sinners choose to only see the fake reality that is brought forth to their attention, while those who belong to God are able to see past the illusions, and look towards Christ. There is much more to life that meets the eye. However, the prisoners were forced to only see what was in front of them, because the shackles prohibited them from seeing a true reality. One day, a man came into the cave and released one of the prisoners. When his chains were broken, the captive, now living in freedom, walked along the side of the cave, watching the other prisoners. He noticed how the shadows on the walls were not real, and they were just the reflections of figures that were cast upon the wall. He saw how the prisoners were unable to see anything but the fake realities set forth for them. Once the man reached the mouth of the cave, he stepped out of the cave to see true light and sun for the very first time. His first step into the light brought him into a state of blindness, for he lived his entire life in the darkness of the cave. The power of true light was so overwhelming for him, that the reality that he once knew vanished into thin air. This man is an example of how those who are bound to sin are stuck living in the fake reality set up for them. Conversely, when they understand that they can live in the shadows no more, they are able to live a free life in the light, and that righteousness that they are stepping into makes them into a completely changed person. Their reality that they believed to once be true, is true no more. Everything they once lived for has absolutely no meaning, for they have found righteousness by pursing the light. The man who walked out of the cave and into the light left behind his old life, and his interpretations of his old reality, and moved toward living in a true reality. He stepped toward the light, hoping that the bondage he was once enslaved to is no more. By turning to the light, he is now able to live in a true life without sin having a hold onto him, just like how the freed man isnt bound to anymore more chains. In the bible, Isaiah 42:6-7 states, I, theLord, have called you to demonstrate my righteousness. I will take you by the hand and guard you, and I will give you to my people, Israel, as a symbol of my covenant with them. You will open the eyes of the blind. You will free the cap tives from prison, releasing those who sit in dark dungeons. This verse means

The Key Characteristics Of A High Performing Team

TEAMWORK KEY CHARACTERISTICS OF HIGH PERFORMING TEAMS NAME: MARION D’CRUZ 1207486 ASSIGNMENT: MCOM200-14B: LITERATURE REVIEW TUTORIAL: WEDNESDAY 11AM WORD COUNT: 1700 WORDS DUE DATE: 27 AUGUST 2014 Introduction The aim of this literature review is to synthesise literature on the topic of teamwork. It is important to study teamwork as most people will participate in some form of a team within their everyday life; whether it is working together in order to complete our MCOM200 Team Report or playing as part of an international championship team such as the All Blacks (Wheelan.S, 2010). This literature review focuses on identifying and analysing the key characteristics of a high performing team. Katzebach (1993) suggests that a team consists of a small number of people with complementary skills, who are also committed to a common purposes, performance goals and approach for which they hold themselves mutually accountable. This report starts with identifying communication with regards to teamwork. This report will go on to identify and analyse characteristics of high performing teams such as the level of commitment, leadership and motivation. Communication In the context of teamwork, teams must communicate in order to ensure that they are working effectively and efficiently. Robbins and Judge (2013) suggests that there are 4 major functions of communication within teams: control, motivation, emotional expression and information. In a formal situation, control isShow MoreRelatedManaging Self Directed And High Performance Teams1130 Words   |  5 Pagestied to self-directed and high-performance teams. Therefore, managers that effectively embrace this type of management in their organizations often become very successful at managing great teams. However, for success to be realized by administrators, there are certain steps which they have to follow in order to achieve the organization goals. 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This report identifies key challenges and barriers encountered during the execution of the project to capture best practices. It also represents an opportunity to bring awareness about the College current strengths. It summarizes eighteen interviews to team members that include the project management team (4), the Centre for Academic Excellence (6), the Faculty (5), the OrganizationalRead MoreLeading High-Performance Teams Essay1651 Words   |  7 PagesLeading high-performance teams The team working is an important concept of the society wherein few people work together towards a common goal. In American culture, working in teams often considered contrary. Marvin Weisbord, author and organizational development expert, mentioned that, â€Å"Teamwork is the quintessential contradiction of a society grounded in individual achievement.† Still building, leading and organizing successful teams considered as a critical leadership task. It is always

Archetypes in John Keats La Belle Dame Sans Merci A Ballad

Archetypes in John Keats La Belle Dame Sans Merci: A Ballad During the Romantic Movement in literature, numerous writers fed off one another’s ideas; thus, creating various patterns which reoccur throughout literary works. According to â€Å"The Literature Network,† John Keats is â€Å"usually regarded as the archetype of the Romantic writer.† Therefore, Keats himself is thought to be the original model for the writer during the Romantic Era. In his poem, â€Å"La Belle Dame sans Merci: A Ballad,† Keats uses various archetypes which provide added meaning and depth to this work of literature. The archetype may be defined as â€Å"the original model from which something is developed or made; in literary criticism, those images, figures,†¦show more content†¦Therefore, archetypal criticism attempts to pinpoint various archetypes in literary works in order for human’s to catalog the archetypes with its significance in humanity’s collective unconscious; thus, drawing on the concept or idea for later reference. Keats’ â€Å"La Belle Dame sans Merci: A Ballad† features various archetypes. Frye proposed the existence of four types of plots, or â€Å"mythoi,† which make the four major genres. Each is associated with one of the four seasons: spring conveys comedy, summer is romance, fall shows tragedy, and winter yields satire (Murfin and Ray 28). â€Å"La Belle Dame sans Merci: A Ballad† is about a knight who meets an untimely demise due to his affiliation with a supernatural woman. The outlook of this poem is bleak because the knight perishes; therefore, this poem is a tragedy. Lines 3-4 show the reader that the season in which the incident occurs is fall: â€Å"The sedge has wither’d from the lake, / And no birds sing† (Keats 845). Keats further engrains the season of fall in the reader’s mind in lines 7-8: â€Å"The squirrel’s granary is full, / And the harvest’s done† (845). Therefore, Keats portrays the se ason as being fall within the first two stanzas, which, according to Frye’s ideas about the four basic types of plot, signifies the poem as being a tragedy. â€Å"La Belle Dame sans Merci: A Ballad† is indeed a tragedy because the knight, in the end, loses hisShow MoreRelatedClassic Medieval Romanticism in La Belle Dame sans Merci Essay examples1497 Words   |  6 Pagesecstasy and felt that the vegetable universe is really a shadow of that real world which is the Imagination. John Keats once wrote that a poet could be certain of nothing except truth and beauty. He wrote, With a great poet the sense of Beauty overcomes every other consideration or rather obliterates all considerations. A case in point being his famous poem La Belle Dame Sans Merci which was written in April 1819. He took the title of the poem from `an early fifteenth century French poem by

The Role of Dreams in the Human Psyche Free Essays

string(84) " begin to register that the sun is beginning to set and darkness begins to fall†\." Plan: 1) The history of dream perception in indigenous cultures. 2) The modern theories of sleep and dream interpretation. 3) Jung’s archetypes. We will write a custom essay sample on The Role of Dreams in the Human Psyche or any similar topic only for you Order Now The Meaning of Sleep and Dreams identified by Freud, Jung, and other theorists. We all dream. Every night – as we dim the light of consciousness – we enter the realm of the dream. In this dream state our imagination runs free with little or no interference from our conscious mind. In the morning, when we awaken and return to consciousness, we may bring with us a recollection of the wanderings of our imagination – we remember the dream. To dream is natural, it is a universal experience. All people of all cultures enter into this dream state when they sleep. As sleep research has shown even animals dream. How we regard the dream, however, varies from culture to culture and from person to person. Originally the dream was held to be the voice of God. Most indigenous cultures hold that the dream is sent by the Great Spirit and serves to offer advice and instruction. This idea of the divinity of the dream can also to be found in ancient Egyptian and Greek society. In the Old Testament Jacob interprets a dream for the Egyptian pharaoh. Jacob explains that God has spoken to the pharaoh and warned of seven years of prosperity to be followed by seven years of famine. In Egypt and Greece the dream was considered as a message from the gods. â€Å"The Egyptian people believed that the gods revealed themselves in dreams, but the soul was not transported to another place or time. The Egyptians believed that dreams served as warnings, advice, and prophecy† (Agee, 2010) http://people. uncw. edu/deagona/ancientnovel (Diane Agee, 1). Both Egyptian and Greek society there existed temples where one would go to dream and receive healing or instruction from the gods. Homer’s Iliad (8th century BC) tells the story of Agamemnon who receives instruction from Zeus through a dream. â€Å"Another element of Homeric dream interpretation, similar to that of the Egyptians is that not all dreams are prophetic, so people had to attempt to distinguish between â€Å"true† dreams and â€Å"false† dreams. For example, in the Iliad Zeus sent a misleading dream to King Agamemnon, which undermined his authorityâ€Å"(Agee). In this practice the sleepers actively attempted contact with divine beings. This practice reflects the Homeric view of dreams; according to this view â€Å"the dream was not conceived as internal experience, a state of mind, or a message from the irrational unconscious to the conscious ego. Rather, it was an objectified messenger, a supernatural agent sent by a deity† (Parman pg. 18)â€Å"(Agee). Hippocrates, the father of modern medicine, used dreams as a diagnostic aid. In the near East the dream was considered to be a source of divine inspiration. Mohammed, the founding prophet of the Islamic culture, is said to have received much of what is written in the Koran through his dreams. In Christian tradition the dream was thought of as the word of God, or the work of the devil. The biblical legacy pertaining to dreams is very important. There are descriptions of forty-three dreams in the Old Testament, while in the New Testament there are nine (including apparitions and visions) (Sokolovskii, p. 27). St. John Chrysostom preached that God revealed himself through dreams (The life of St. John Chrysostom, para. 5, thenewarchive. om, p. 229 ), whilst other church fathers, such as Martin Luther, viewed the dream as the work, not of God, but the Devil. According to Luther it was the church, and only the church, which was the conduit of God’s word. For Luther revelations made to people in dreams could only be diabolic (The Legacy of Martin Luther). http://home. inreach. com/bstanley/luther. htm In the Christian epoch the church an d its scriptures supplanted the importance of the dream. The dominance of Christianity obscured the divinity of the dream, which was now considered superstitious. The rise of rationalism and science further undermined the value of the dream. To this day skepticism toward the value dream remains the predominant attitude. In the early part of the 20th century, however, the dream was championed by two great psychologists, Sigmund Freud and Carl Jung. For Freud the dream revealed that which the dreamer would rather keep hidden. By exploring the dream one was forced to face that which was suppressed and rejected within oneself. Jung had another theory. Jung felt that the dream acted as a mirror for the ego – revealing that which was missing within the consciousness of the dreamer. For Jung the dream acted as a teacher and guide on the road toward wholeness. With the work of both Jung and Freud the dream regained its status as a source of wisdom and healing. A series of dreams would develop, balance and refine the conscious awareness of the dreamer. Jung had rediscovered the age-old wisdom of the dream and its capacity to heal and make whole. Apart from healing, the dreams also seemed to be encouraging and actively participating in the growth and development of the personality. Jung termed this inherent drive of the psyche as the force of individuation, the force by which we become whole and indivisible. Freud, â€Å"The Interpretation of Dreams†: The conscious element of the dream lies in its remembrance, the unconscious element lies in its mystery and perplexity. Half conscious, half unconscious, the dream acts as a bridge between the known and the unknown. Physiological Theories and Stages of Sleep So now that we know why we need sleep, we need to know what is the thing, that actually puts us to sleep. Some may recognize the name melatonin, because it is sometimes prescribed for jet-lag or sleep deprivation. But we also create this chemical inside our bodies, although it is in much smaller portions. ttp://library. thinkquest. org Melatonin is a hormone secreted from the pineal gland in the center of our brain. â€Å"It is released when our eyes begin to register that the sun is beginning to set and darkness begins to fall†. You read "The Role of Dreams in the Human Psyche" in category "Papers" This is the hormone that makes you go to sleep and is also used in our bod y to regulate our sleep-wake cycles. If you wonder why older people tend to sleep less than younger people, it is because the amount of melatonin produced in our body seems to lessen as we age. Although sleep research has yielded a great deal of information on how we sleep, why we need to do so remains a mystery. There are two prominent theories of sleep function. One — the restorative model –assumes that sleep exists to service the brain in some way. According to this theory, non-REM sleep restores the relationship between the nervous system and muscles, glands, immune and other body systems. REM sleep maintains learning, reasoning and emotional balance. Another — the adaptive model — holds that sleep exists as an adaption to our biological clocks. Because it normally takes place during times of reduced physiological functions it may be a means of preserving energy for the hours when it is needed (source Are you Getting Enough? Harvard Women’s Health Watch, 1070910X. March 94, Vol. 1, Is. 7. Academic Search Complete) Cortical and neurological theories of sleep compete with the neurohumoral theory, developed in the first quarter of the twentieth century. The brainstem theory, formulated in 1962, was associated with the discovery of a small region of cells in the brainstem thought responsible for dream generation and the secretion of acetylcholine. It gave way in the 1970s to the cortical-brainstem theory (the production of dopamine in the lobes of the brain was associated with dreaming). It became clear, moreover, that destruction of this group of cells due to injury leads to the extinction of dreams but not of the phase of paradoxical sleep† (Sokolovskii, p. 17). This poses the issue of the presence or absence of dreams in animals. If animals do dream, their dreaming † is probably limited to what Freud called Tagesreste (residues of daytime impressions) and â€Å"childish dreams,† the significance of which lies in the fulfillment of desires unfulfilled in the waking state†(p. 17). The so called work of dreaming, which encodes the true meaning of a dream (condensation, displacement, symbolization, repression, and the other mechanisms of dreaming that make its content non-obvious and decodable only through interpretation), â€Å"is apparently connected with the presence of developed language and with the play of signifiers and is conditioned by it† (p. 17). It therefore cannot exist in animals that do not have such a developed second signal system. A typical night’s sleep consists of a number of cycles lasting about 90 minutes in length. Each of these cycles is made up of four separate stages. During stage one, we are entering into light sleep. This stage is characterized by Non-rapid eye movements (NREM), muscle relaxation, lowered body temperature and slowed heart rate. The body is preparing to enter into deep sleep. Stage two is also characterized by NREM, this stage is characterized by a further drop in body temperature and relaxation of the muscles. The body’s immune system goes to work on repairing the day’s damage, the endocrine glands secrete grown hormone and blood is sent to the muscles to be reconditioned. In this stage, you are completely asleep. Stage three is just a deeper sleep. Your metabolic levels are extremely slow. And, finally, the famous REM, or rapid eye movement stage, occurs about every ninety minutes of sleep. In this stage of sleep, your eyes move back and forth erratically. It occurs at about 90-100 minutes after the onset of sleep. Your blood pressure rises, heart rate speeds up, respiration becomes erratic and brain activity increases (source). Your involuntary muscles also become paralyzed. It is called in the mnemonic for medical students as an â€Å"awake brain in the paralyzed body†, as opposed to stage one through three characterized as â€Å"idle brain in the awake body†. An EEG would record brain waves resembling those you would see when you are active. This stage is the most restorative part of sleep. Your mind is being revitalized and emotions are being fine tuned. The majority of your dreaming occurs in this stage. These stages repeat themselves throughout a night’s sleep. (source) The following diagram shows our sleep cycle: source Sleep Wake Cycle The Meaning of Sleep and Dreams Identified by Freud, Jung and other theorists The function of dreams is that by reproducing difficult or unsolved life situations or experiences, the dream aids towards a solving or resolution of the problems. pic]â‚ ¬Ã¢â€š ¬Ã¢â€š ¬Ã¢â€š ¬Ã¢â€š ¬Ã¢â€š ¬ Freud called dreaming â€Å"the royal road to the unconscious† Our personality as a whole, like every organism, is working towards its own fulfillment. ’ He connects this even more directly with the overall self-regulatory physical processes in saying ‘There is in the psyche an automatic move ment toward readjustment, towards equilibrium, toward a restoration of the balance of our personality. This automatic adaptation of the organism is one of the main functions of the dream as indeed it is of bodily functions and of the personality as a whole. Dreams are the product of the unconscious mind . In the deeper state of Delta, our minds are resting even more fully and we are further distanced from the physical world. Perhaps it is in this state that we can receive cues from the energy of people and situations that we are connected with in waking life or from Jung’s collective unconscious. Since dreams were a way of communicating with the unconscious, Jung felt that the imageries in dreams were a way of revealing something about ourselves, our relationships with others, and situations in our waking life. Dreams guided our personal growth and helped to self achieve our potential. Often discussing what is currently going on in your life, helps to interpret and unlock the cryptic and bizarre images of your dreams. Jung’s sleep theories are closely associated with his f archetypes. Jung’s theory divides the psyche into three parts. The first is the ego, which Jung identified with the conscious mind. The second part is the personal unconscious, which includes anything which is not presently conscious, but can be. The personal unconscious includes both memories that re easily brought to mind and those that have been suppressed because of being painful or too difficult to accept as a part of reality for some people. But it does not include the instincts, or id – aggressive drives, that Freud would have it include. But then Jung adds the part of the psyche that makes his theory stand out from all others: the collective unconscious. You could call it your â€Å"psychic i nheritance. † It is the reservoir of our experiences as a species, a kind of knowledge we are all born with. And yet we can never be directly conscious of it. It influences all of our experiences and behaviors, most especially the emotional ones, but we only know about it indirectly, by looking at those influences. There are some experiences that show the effects of the collective unconscious more clearly than others: The experiences of love at first sight, of deja vu (the feeling that you’ve been here before), and the immediate recognition of certain symbols and the meanings of certain myths, could all be understood as the sudden conjunction of our outer reality and the inner reality of the collective unconscious. Grander examples are the creative experiences shared by artists and musicians all over the world and in all times, or the spiritual experiences of mystics of all religions, or the parallels in dreams, fantasies, mythologies, fairy tales, and literature of different cultures. A nice example that has been greatly discussed recently is the near-death experience. It seems that many people, of many different cultural backgrounds, find that they have very similar recollections when they are brought back from a close encounter with death. They speak of leaving their bodies, seeing their bodies and the events surrounding them clearly, of being pulled through a long tunnel towards a bright light, of seeing deceased relatives or religious figures waiting for them, and of their disappointment at having to leave this happy scene to return to their bodies. Perhaps we are all â€Å"built† to experience death in this fashion. Quite a few people find that Jung has a great deal to say to them. They include writers, artists, musicians, film makers, theologians, and, of course, some psychologists. Examples that come to mind are the mythologist Joseph Campbell, the film maker George Lucas, and the science fiction author Ursula K. Le Guin. Anyone interested in creativity, spirituality, psychic phenomena, the universal, and so on will find in Jung a kindred spirit. But scientists, including psychologists, have a lot of trouble with Jung. Not only does he fully support the teleological view (as do most personality theorists), but he goes a step further and talks about the mystical interconnectedness of synchronicity. Not only does he postulate an unconscious, where things are not easily available to the empirical eye, but he postulates a collective unconscious that never has been and never will be conscious. There is still a lot of work to be done to connect our knowledge in physiology and psychology of dreams. The French neurophysiologist Michel Jouvet, author of the novel Le chateau des songes [The Castle of Dreams ] (Jouvet 2000) and discoverer of the phase of paradoxical sleep, analyzed 6,600 of his own dreams before concluding that two kinds of memory—long-term and short-term—were used in them. Physiologists have yet to reach a consensus concerning the mechanisms of sleep and dreaming. How to cite The Role of Dreams in the Human Psyche, Papers

Scarcity of Geological Minerals

Question: Discuss about the Scarcity of Geological Minerals. Answer: Introduction: Modern industrialisation has created massive demand for scarcest geological minerals such as zinc, antimony and molybdenum. Currently, most limited mineral resources may have become exhausted if the extraction of the scarcest minerals continues to surge. Meanwhile, the increase in demand and production shortfall of the most limited geological minerals can fuel higher prices of the mineral resources. By following the historical trend of the rarest geological minerals, many of mineral resource has faced geological scarcity at the highest level leading the price surge. Meanwhile, the study of Henckens, van Ierland, Driessen, and Worrell (2016) on geological scarcest mineral resources identified how the extraction of the most limited minerals continues to surge in demand leading to exhaustion of the mineral resources. On the other hand, the impact of the same on the relevant metal industry has been evaluated providing distinct evidence. In the discussion, the role of public investment in the mining industry and the government policy on this event has been criticised (Henckens et al., 2016). Understandably, the production of zinc, antimony, molybdenum and other scarcest geological minerals has been cut down to a reasonable limit fuelling massive price surge. Also, the increase of mineral consumption per capita has become another serious issue. Precisely, the scarcity of geological minerals may lead to economic scarcity in developed economies. Global industrialisation has increased the demand of mineral resources at the highest level. Meanwhile, the production of the mineral resources has not been increased according to the demand due to limited resources of scarcest geological minerals. As a result of the scenario, the mineral producing countries such as Australia, USA, and European nations have faced stiff challenges to deal with the situation. Due to lack of production of minerals such as Zinc, Lead, antimony and molybdenum, the price of the commodity has increased radically (Henckens et al., 2016). On the other hand, the metal producing industry, and metal industry have to pay the price for increasing price of scarcest minerals. Due to price surge of minerals, the cost of production of metals such as aluminium, copper, nickel has to be increased creating a direct pressure of inflation. Also, the public investment of mining industry has created the scarcity of the minerals more than ever. Arguably, during the past five decades, industrialisation has caused significant consumption of minerals (Christmann, 2013). The study of the article has been evaluated to identify how substitute procedure can mitigate the issue of scarcity of mineral resources. The downfall in the geological mineral resources has resulted in the fall in supply of various regularly used minerals. It can be seen though research that the production has fallen by around 50 percent, whereas the demand increases on with the development of the manufacturing and metal industry (Bleischwitz and Bringezu, 2008). Hence, the rise in the price of the products is the primary step that has been taken by the metal extracting industry to control the rising demand and falling supply of geological minerals (Christmann, 2013). For example, comparing the price of zinc in February 2015 and February 2016, it can be seen that the price has risen by more than 100 percent. A supply diagram has been presented below for better understanding of the steps taken by the metal extracting industry to meet the challenges of minerals as scarce resource in Australia. Figure: Fall in Supply of Minerals Source: (Avery, 2007) Considering the above diagram, it can be seen that the supply of minerals have decreased in the recent years due to no discovery of new mineral resources in Australia. On the other hand, the demand has kept on increasing due to rise in the production level in all across the globe (Avery, 2007). Hence, it can be seen that the supply curve has shifted towards the left from S to S1 and the demand curve has shifted from D to D1 resulting in rise in a huge rise in the price of minerals in Australia and several other regions of the world (Avery, 2007). In order to meet the crisis of minerals, the government of Australia has undertaken different initiatives and introduced new policies. The Minerals Council of Australia has developed teams to discover new mines for minerals such as zinc, aluminium, copper, nickel and others (Henckens et al., 2016). The team of experts in geological excavation are conducting different researchers and projects to find new sources of minerals in the country. Some of the projects have been initiative in the regions of Queensland, Tasmania and several places in Australia (Henckens et al., 2016). Along with that, the government has introduced a floor pricing policy to maintain a minimum rate in the mineral industry to balance the profitability of the metal extracting companies and metal buyers in the Australian market. On the other hand, the Minerals Council of Australia has undertaken several educational programs to minimise the use of scarce minerals in the country (Bleischwitz and Bringezu, 2008). It ha s been believed by experts that if no new mineral resources are discovered, the stock of scarce geological minerals will be exhausted in the coming five to ten decades. Hence, it is important for the government and common people to use geological minerals in a sustainable manner to keep them available for the future generations (Henckens et al., 2016). Furthermore, the Minerals Council of Australia has started an initiative to develop substitutes of the scarce minerals that are undersupplied in the Australian market. The review of the article has identified how large industrial production in the developed as well as emerging economies has influenced the demand for mineral resources. Moreover, the major supplying countries of the scarcest minerals such as Australia, China, the United States of America, and European countries have not found any substitute for limiting the consumption of the minerals. As a result of the phenomenon, the extraction of scarcest minerals is rapidly surging due to global demand. Therefore, high-quality mineral producing nations such as Australia have faced significant challenges to meet the global demand. Moreover, the cost of production and geological scarcity of mineral resources has been identified as one of the primary outcomes of the event. References Avery, J. (2007).Energy, Resources, and the Long-Term Future. 1st ed. Singapore: World Scientific Publishing Company. Bleischwitz, R. and Bringezu, S. (2008). Global Governance for Sustainable Resource Management.Minerals Energy - Raw Materials Report, 23(2), pp.84-101. Christmann, P. (2013).Mineral resources: should we fear a shortage?. [online] Paristechreview.com. Available at: https://www.paristechreview.com/2013/02/12/mineral-resources-shortage/ [Accessed Nov. 2016]. Henckens, M., van Ierland, E., Driessen, P. and Worrell, E. (2016). Mineral resources: Geological scarcity, market price trends, and future generations.Resources Policy, [online] 49, pp.102-111. Available at: https://www.sciencedirect.com/science/article/pii/S0301420716300861.