-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
1/77
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
2/77
!"#$%""$&"'(""#)&""*"%"%! !%&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
3/77
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
4/77
!,+-5-8+9(:-+(0!/"/"(""&&""
$-"&$%#"&;.!"#($!!"#$%!$&'()*+'()*##&
/#"7"&%"&%7"&"&2"##5""&/#%#&&%%"!!"#$%#!$&'()*'()*(,"&&&"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
5/77
/#&($#&&(""",!#-%$-5#
+7""#/#"7$%!%#%%"+#(#"""%"1""9&%%&"%%/&%(""%8"#!#"
+"(#"9!)&,!,$#--
:"4#/#"%/+#===&:"""1+
/%!"!"#"#)&/&/"##,!$"%+#&&+#81#(#$7"
5"."$//%"%/+&&%&"$"&*"/&"#&/"7&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
6/77
'"7;-+/""!"1$#
7",&&"#&&&;"#'#7*#$"#>?,9.58*-4!+,.9/(9/#1+"8""-
""&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
7/77
)0))8(;-!"$""""%"":"%"&
!"&&"2"%
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
8/77
""#6"2"69"#9""&:""""&$"%""&!"
&%"%#&""#""%"#"##&&"%"#":"#"##'(%""%"""#$#"",""""
(#%#"""/.#0%#"&"#,""&&0%'"("&""0%""""&""&"""#""##("
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
9/77
*()*/-.#0%%"&
-""&"&$$&/"&$&)"&7"#""#"&'""&"%"&"!#"##"&"#""&"
$&"%"%/4(>/&&"""##!%&7"&&&"#"&&&""#.#(&&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
10/77
*&%&"%"##%1#"#5&""##!%
%""""#"&&/%!"&'""&%#"&7"#"##%&""&//1("&%#"&
"&"&7"&"&"&"&"$/.#0%/1#90%/1#9#"0%$
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
11/77
*001$0/7"&/$7"&9-(8:"&90%
/##90%%"""##"/'"##"&/##&"###&"##&/!%
(##&9%##&,"%##&;4">/""$##6&&>&%##&""%%"###,>#>
/%#"&/&"&&"#""%#/""'"##&&/$#"1:"4&!##&%""!";4/"%&$4%6
+";4#"'""%""%##"%#/"4#"7""%%#+%!%"###4#"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
12/77
+%"#/"#&/2"%%2"%###&"&"#%&"&+#+"#
#*&!&8%8(""&/1#90%"&/@#$#"1#"%&:"&&/"%"%&7"&%&$#$##&$#&/$"%##
"&("#("&&"(&"&"$"%#"&$""%"&%&$"&"&%!##>,&%&!3"#":"4:""""%:"
4%#4#""#&>'"""%"&>9""&"&-)"#%/"#7+4*!/###;"
"%#6&"##""&/#4"&%&5#"6"&""""A"%4>(:".&;6
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
13/77
8&"/"&&""&9""1""2"3#"&"/"&"(""##"
#"%##"##"#&"&"8%"#"&>8%""9#"###""#"""&""&9""%###&"+'"+'"#%##&""&+'%##"/#"##/"
5&%&/&7"&5"##5!$%###"%"%#&&;#&%&"&&/#"&&&"/#"&"%/'""##&>
""&%"&-90%->$"&"""&("&"&""&"':"6:"&""&""/"#"':"&"""':"4%""%%&&&"&%"&>%&"/%#&&"&$#
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
14/77
&%B"#"%+"!#""4"&$"##":"4"/%:"B#%##""#(#""%$
##>*&"#&""/##""&'"&(#&"#%&""/&"&"#&""B*"%""4)">7"4&"#%#&&%"("##"%&/#&%#&&'"#/%$4
B"+#/'"%&%/"/1#90%>0%,"6/'""##""%%/"#$&5%%%"
/#""&5
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
15/77
*001$(0/7"&/7"&.7./#""&"&/"&"/
"%%&"&:""&+"+"%:"""&!#""'":"'""%""&"""&%":""%%%":"%"&%"""#
%""%"7"##%#-$"#/1#9#"0%/&"&&:"%9#"0%%"#""/#"9#"
0%"#"("&"#""%%&"7""&&%%#%%###"###*#/!#5!&6+5":""#""#"#"#&&
;"%""&+56:""&/#"&':"&9#"0%"%""'":">,;"#6&"/"#":"""!""""
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
16/77
/""&"">/)%#"&"&"")>"">("'">%&"/&'"*"#"%
/%""&"&&&"/""&"/"&%&"/"&7"%+5/":""&("""&"/!"###+","&+""#;""+""##/
%"#""0""#6%/3"/444$634444/4"""34""9#5"5#"
8%#"#/1#9#"0%#+"""&&)%/%"&/$&&"&6#&&>/&"&""##&)/"2""""#&""
!#&&%"&&!#&"&'"!#"&"&&&"##"""##"",%
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
17/77
#&&"6$&"%6##",6,4>7"#&&%"%&"+(/"&"+&&4#%>/&"#/
##"&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
18/77
"&/&'"*#&&"&!#!&
$#&""&/&"#&"/""#,"##&!#"#"#":"";""#"/#"""""&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
19/77
*,-0-$;,";9,$#99#"0%
"&&"$"$"8"&"#,&&%7%##&/#"##&&"%##&&8"%%#&&("#""##&&&&"&"##"#%/"""%&"
/;&"&6;&"&&&"6;"6"6+#"""&"&"#%#&""&!%/5:""6:"46+"
%7"%7%!,";""6#">/&("#"#&&"&&"'/&&"&/"&&"##;""#"6&/"%&%":";%"&%5"#"
)%:"%"&%:"%&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
20/77
8"1(&")'###"8"'#"&>"#"%"&&"&:"4&"!#"&&!>"!%7%%(04)>&&/4&!&"%&/%/%%"&&&
/87$#&"%2"!:87"&:"79"87>("&"7"%%&%%/#'&8#"&&"7"
-2"#&2"#
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
21/77
#/%-"%&%/##&&"&&%%8#"##/%"&%
#&&&&"&("##"&&&&"&6$#"##$%%&"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
22/77
!""&&"%&"%&"#(""#""&""%&"%#"&"&%&":"%#&"&&:""
&&""&"%"""#""#&&%#"'###"$""!#"#/$#%&"",&")$##%2"#;"!""9&!#
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
23/77
//####"&/#""/"#%#%/#"B""&B#"
/."%,/&&%"&&&%%2""#/%")4%"4%%"&&4%"%%"&"&&94%"4%(%"
"%6(""#"%#;""&6&4%"6/#4#"%""#%%"4$4#4%44!"9
8#478!%"#'""#&&"&:"&"&!#"#&"#&&"#""%!#"$#"%&,#>#"&"7"
$-(###%"&"/&%",#"67"#2"(""#&6/*>9#":""&"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
24/77
-&&""#"7"##"%/"##"#$"'"""&'"#%"""&'"""""&&
$/''""#"$/"'###"&/"&/#""#&/"&&/"#%&"&%/"&/"'"*!(5*:"1%"#"##$#(##%%":"4"/)"
#""'/4"*#"/"7"%""&"&%&%">*/4/4$+"
$"&&"&""#"&E&F&""#%#$#%&'"##&""&"$%#"&"7""&"'%#"(&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
25/77
%"$""##7""##$"##
(#&+#%/+%!#")"$&"&%"&"%$""7"%/&/%(#
"+#$&(##1"#>"&"##/+#599"#""%#"#""(#""#"("##%
#/#"&/###+%#/#&&"%%"#"#%""$"#&/#&&"""
("&"(>#"###">/#(>/%#&"#%##%&$"&&&$"&""#"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
26/77
%#""%%"#'#%#""/(#./#""/&"&&"/#
"#"%/##""/%##:"":""%$"#"%"&&&&/%"&&&&&""&"#)&"(#/&"&&&&&&&9"###&B"74.+"47"5&!""#B"1#9
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
27/77
%'"##"#"/#%"&&""&%7"#4#&%"&
/"""#"B"1%>4#)4&2"&&/"##&/%##&"/""4$'",>7""#""//"""#%""&/"",>
7""#";""#""6($+"%"+"""&"&(##'")"%"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
28/77
*,"1*$7$-"&/"&"&7"
""/>/#"/("##"""#4%"&""#)&$"#"#
$"&"&"$""&&&&$"%$"$"$"#$"##
$""$"&"#$"&"#"$&"""%$"$"$""%%&$%%%&"&">$%%%&">1"/##"
/&&4&"/&9#/#&"*#/!"##"&&"##(#&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
29/77
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
30/77
""#"$#"&"#""&!#"#"&"("&&&"#""&"&$#"%%##&$#"""&"
(""#"$("&&"//""""&%"#"%&&&/"&""9#%%&HHH
#""#/#"/$4+//&""/&*#""###"#&"/"&/"/+##"/$/##
7"###"###%#,"#&"&""&&&"""&""&""".&""#C"""'"("##"#""&"/#"#&""#"
#-%"#-%*5&%##"&%&&""%#&'""%##"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
31/77
&$%#$4$;"7%#&":"#"&"#"##/&"##/
##"#""1""2""&/"/&&&"#//%#"#%#%"#"#&"##"""###4&&"&""7"
%"!"#"##""%#"&%"'/&&""&&*#&":"#&/#"/#"("""#""1""2"3&1!""%"#"&
"&&""1%#1+&&%##""%7"1""2"%"&"#%"/#")#"&&&&"#"""""""""&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
32/77
#""/"$4%###%#6#"#&&"4"#"%!"7"###
""/4&%%%%/&"###%%&%/1##"#"%"8&%##""#%##%"#"&"%;*%$""""""&%#
+",9"""#:"&"##">"""#:"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
33/77
*,'0)-*-5&18/-&&(
%##/#/>/4"/#
"#*""("&&&!4/>/"(#$"""2"##"()&&)
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
34/77
()&"2"#&()&%"()&+&""2"##&/""%'"
&/!#"/#%-9&"'"#""/"%)#%/"#3%44%#"""#-%#
#%&%*""(&"/#4"""&&&"#"""&&"$"")"/#"""&/#""
#"##/#&&"##"""-&""""%#/)"+("4"#&%1;"5%"6:"#"#"&"#
"/#"&!+/!#5"#(714#&&"/""##&&/"&"""*"""7$%"%"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
35/77
%/"%#/&"#&!12"1(#"%/#+&/
$)&"&*""(&"&*""(&"55&">"#&%/"##4#%!"%%""&7"&&%##&"7$%&%7"#"&-"&"">
"#""5"74/%"&"!"%#"%#%&&&$$%$$%&"%"#"%%1./(#"/7""#"#
7"7"&"4#2"&&/%"####/%""/:""#%"9:%4":"&"%/%"""#""#%7""'""%"&""
"#2")&"7&""&"/0%"*""&%&&"7"&&"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
36/77
"%%"&&"%:"2"#/
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
37/77
/#(#"""%"7"9"4&%%!#
"&"&"&"!#""##"618/-:"">:"*""":"%4"5&%#44#)##9""#):"#":"*"&"
:"""&"%(#"""#"#"""#"#"#"*&""&%"#""""&""#"#"&"""&,""#&"&&&%#"#7""&"&&%%#
"*"#%"#&"&95%$%7""%""B"%"#"""'"%&,#"%&&!"%%&%#%&!"%""""
""&%"&!"%"/%"/%/"%%"/#;"7"##%"&%'$"#"&&%'""%""&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
38/77
&/"%,&""%"#(""%"%%"#!#"%"#"#"%
!""%""#/%!">7""%8"%4&"4"!&%##8"%"%#"","%,"%;&6%"9#"%&/",#"/"%/%%/
1""%":"""&"&(""&&/"""#'##&"%'#"&&,"$%1&"#&&(%&&"%#%"&
/&&"&&&&'##)&"#""&&$#&&"%"#"%##&&"%'*%#"&%&8#"%/%##(%"###&
&%#"&"%#"'%#%#'"94%#%##""%&&/"&&"%"%""#%
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
39/77
/"'#"#&/"#'"&&&%#&>#%%#""""&&
:"%%""(%5"&&8/"'""#"%##"/"%#"%%#%#%7"%#""%%/&&%%/#/"
/%"#""%&"&$"%%#+0#;"%/#&&"/"@11>$>8%#%&"#&&"#&%&'"&&"$##&""
">/"%"%/"""%#%('""$""##"""$"")"("%$6"
8"6"&)444%"/&%&&""""""%%#",&&/%##%/##"##%#&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
40/77
//8"#1;"6#('#%%5"&"##&"%&>;
"#&&/""&/5!##""&/#4"$&""%""#7"&&%(%#%&/#"$"")!"""*)7""")(
"")"""/"""""")!""")"#"%&4##4##&"&&%#&$"6/&695#%
"##"5%##&&"&"&""/"#"/"&"%#("&%%###%#&/%/##'/##""#&
##51";:%"#%#&5/7"##(%++"#"#"/"&&"&&"!
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
41/77
/"&&"&$6;"&"$"&&&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
42/77
#"""&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
43/77
+"%#"#)(&"#!#&&"#1%%&""#"6/
2"%:""
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
44/77
*,0-(-/*/",$%>%#"
:"4#-#"*"##"##"##$%6,"#"%"#%#9#(#"
#"%###$%/""#$&$$>$"#")&"&"#-/"#"#%/2"#"#>$"#"%"&"&"#"##&(##-(;
&-"6$6/6"##/"!"#(%(#""##&"&""/"%8":"%"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
45/77
"/'#'#/"##%$"""%"""#%#
+"##4"#&#####"&>##"&"#&%#/"#%"&8%"%>*>/"#>#""%%""4
:"14!#9:#":"4#/&"%""%%"/"#"&/&"
#"#*"##""#&&"&!&"&!#%&!&-&-"%>;"6/&"94/%#
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
46/77
"%&&%"7"4##*"#"###"/'""4
!""#"#"&9)#"$"#"7"!&869>$!"&&&"2""&"8&(&%&&">'"E%4#%F%7"&&%/&&"&&&%+*;
&&"#&%/"#;""#6"%$"#%"""%#%&%"&:"("""#"&,%/")%7"""/)"&,%&&&&
"&;"#"&1(6/&&$##&&>/)&""&%-#;"#-6
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
47/77
##%%9%"%9"%%&"(%%#&"&
#("9####"&>7#"&&"##"#/####"#
/(17"!8"+")#:"$"6#""%###"#:"""&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
48/77
,!8"7""%,!8"/14"%&&"%#/&"'&%"%#%>
/"&%+#"#"%#"/#"#""##%"%#""%6:"""%:"&(1""%:"
#8#'"'""%/&&&&*"9>>&"&&&&%&"#"/">7#""&&"#&1##&>/##"#%##"####"&>
/#":"#+'"%'"2"%">,((>8#/#&"&:"":"4##""/#""""$":""&""#""%%"%&/#&&"%%"#
#"#)&/""""#""4"&&"#""#"""""#"#""'""&"/"#&%#(%"&>/#"&""
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
49/77
"#/&"8/""&&""-""$#"/"#"
/"&:"""#"&%#%#%#"#/#"##"%>/1,/"&7)B"#"7
>/&"#(##%/"4"##"#&>/"#"'#"/#"##/%"/""&&%"#/%-%"";9",#
7(&E##F>E7#####>%""&!##'""%&IJF(&&"!"9"!9&%#"
$E#&FE"#F$#EF1""$""$"&&"""
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
50/77
#-6F7"%:"%""7(&""""%""&(##"#$#""""&",">
++!;""&'"&"'""##6;"&6"("%"/"&+/)%&"#""%7"">/##"&"#""7""#$")'%";4#"4:"4"""4%4#&"""
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
51/77
"%#""9""/%!"&&"""%"#"%"&&"
"55"%&&""""","#"%&"&&"#"&(""%"%5&%#'""#"%&"/"#"4/%""#/#/"&"#%#)&/"#%"#%
$"""#%/%"""$"%""/%:"+"8:"!/&"&/&"7""##(&4"!"&&%""("#%!%%/%#&7"#&&:""
B1""2"!"#"7!#/8#!"!&)%"B)#"!!"5&$/"&"B//8#!"!7"!4#"#"B""#/"#"7$%
(B1":"""""/8#!"#"%""##"(&"4%&&""%#"##%8"$)"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
52/77
/!"#!$/"#1"#%#(#"%""%6"%%#&&6
7""%#"#"2"464##6""#4%)#%#"&"#"%""%###'""9""%##/1B7/5#;B"$4#:"8"#"#&
"""("'"#&97%#)&"&/"%"#"##/%).#0%!B7""%&"&&""
/&&"&&"(""#&&""&""""B74"&&"/5+#"""%##""#"&&%7""&"#####"%"#"""###"#")&'"###1B7
/#"#"#"&/""%"##&"#&/"#"#"#")&+##"&/""&")
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
53/77
"&"#%"%"%""%#"&&&%)"#""
%/"&""""#2"""7"#&"%##"2"B8%"&4"&/#&"####!"&%#"&/%)%#.#0%7%#"
-)&%"%+#""#9&"&9""#&,"""&&&""&/"!#8#+""-#"##&7%#"-)&-##
#%##"-#"">%#":"""%#""&:"(&(#""&":"%:"%&&""#""#%&&"&9"
(""&&%B""":"&"&"7"""%$"6$%"644>+#"">:""&:""&:"%#"&!#"%%#
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
54/77
"""+"%:""":""&%:"%#"#"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
55/77
*,!1++#5$5$(/&%>"%%&
'&""2""&%)##%"$#"""#"$&"&""""$);"%"#)6/&&/"""%"/
"%#$%#%""#%#&/-"$)"#"-)"&&";9B%/&"&"&%&%%#"&+#&+"%#>(>!
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
56/77
#"%"##%&""&%&/!#8($)"/"%"#+4&&&
##5%&"/"##"/">&""#7""#"&"&"""#/%""&)"(&"&&$#"%""&"&
9)'"KL=7"/%"#"&*;0;0""""4%&"%#KL="""#&"&""#*%KL="""##;0#%
%"#&")#""#"#%%%##"#$&""##"11("""%""
"//#"5&(""#/%5&&465&""&&""&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
57/77
%&%""&")"##">##/%"
/""""%&""%"&"#%#'"#&"#"##"/&2"""&"#"%#6)&(##"&&"%#/
/%#/&""""%/""%#>9B8"%$##B(&&&"&%B%#"%""&%""4%&""/B%#
!%>/"&)"&"/&"&%#/1#"#&%#"+#B8B##"#"!"#%#/%""#"&%
"##%+85/""&""1"4">#"%/"&"#+8"/";"""""%""###B6
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
58/77
"&&"/###""&&&"/%#)&"&%)&%"&
,"####"&"&1&!"#"!#"&""&&"%#"&"%####"$&"%#/#"/#"+&"(##"
##""##"#/%%%%/##$&>B8##"#/
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
59/77
"&&%#"7"%##B8&"#"#!%"!%&"#"###
/7-*%##&&"(-*%"%%%&"#'#"!#%"''%""#(##*%#/##
#"7"%##"&%4!%%">+&""%#*%&&"%%7""%#/###%$6$"
*%##"&&&"""%"###&&&&"%#4%"##"#$7"$##7"
;"6/B#"#7"#9##/B"'"#"#"////#&"";#&";#"#:#"'"&7"%#
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
60/77
/"##%##%#%"&""##8##"""#"$$#%&/!#$"&"6
>$"$&"#+%%%""*"7"%(!""!+">7"#&;""/"$6/#&/"!#/###7"/#(7">$B"#6*>
7"&""!"5%%%%&(&"###"&&"%"#!"!"%""####&"/%#%#&"#"&
)"7"#"&"#/.#0%
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
61/77
*."(//7%"7%/--#+8%
/&&"#%,>")%%$#%61%>%+&&!*#$%$$"%""#+4%"%&""&2""/&5";"/&
#&8+&&"6/""/+&&"&%"/#%$+&&"#:"3""#"/#""#"/+&&"/+&&%""##+)%"#""""#2"/"#"">""
#"#""&%"&"&%"&;&%"&%"7"&%"&>#5>+##&"#"#""&/@"#8#7"&*"#"%&"4"$#""#"&&
(#"$#(#">(">!")!"!"#'"#!"#/+&&"+":""#4"%&""#$
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
62/77
#""#"+&&"#"#/#"&+&&"
%&"&&D",!":"+&""":""-)""""/+&&!5"+&
"#"7""&"""!8"#"7"&"-"";"%+&&"6/"+&"&"+&&"&"&(&&%&"%&$&/%##,,9!,./(9;,$
-(/->&%""&"&"",,9!,./(9;,$-(/-*#/"("##:"$"-"&&"%%&%"""&/#""""""&"":"!#"/2"/%"##+)"##+">
$&"##"""#"##!""$"#!"##%%/5"#&1
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
63/77
/%&"#"")7"/#"#"#"%/"&&2"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
64/77
7%:%"#"">:"%6;"%6%"""
:""&:"%""#&"4&"";4","#"##;"%&&6/#"#2""/&"5%&"/"##"&&"#"
/&&"#2""/#"&&&""%&"#5"&&"#%""#&&&&%%#""#"%"7"""&54"&'"#"
,#&'"##&/":""&%"""##%"/"%""/&##""
"#""&'"7"##7/""">!&&""#!&&&"&+"#*#+"&&&'"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
65/77
/&&">7;-/!7&&&"
##"&9"8#;!&%!%"##/!;$@4,+%"#""&,*'"#&",*4-%,#/%#"/&%"&!"4)"#"&4$"
"4"&/47""6!4&4&)+"!;,*#"/"&)""$#&&+-8%,/&&%
:"""#":"""&"#>7"&&+-"/+-"/(-!5""(&&"&&/"&"#&&""&&+-"%&"(""")#"&
$%)&6%"4%"#(""##"#"/#&&&"#"+-%""6"&"""("
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
66/77
/""&9"""$##>/###("6
+7-+#"%+%-&&&")#>#+4##+%&"&%"####"""&%'>+#/(#:"+,"##+
#"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
67/77
+)4&+")/"6(+9"4'"#""%&"##4%"/+"4%#%#7"%
+#""(>+",>""-"#&!"/,#'#"#""""4#(""#1#$
/#",#"B"1/&""#"/(7"#"!(#("'"%/!!2"##%2"#/'2"//"
/"/&"%%"/$##9%"/,##"#"4&&$6/"&%&'/&&4&&
/##4&$%"&>:"%"(#(#"##"#""&""
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
68/77
$!/"##&(&>#""%""#"&
&""#8'""2""%&(")&&&/""""#%+1")&&)""#"/2"4$2"4-7"#7"&-7
-7###+"#2"4!"%"&""$#"&"!"&""%&"'$"'''"'4'"#"'"#(''&4%"'2"4"';"
'6"%"#-7#"&"&"!"%""""""&>,&>""##"(-7"#%/&""""#&"&/"##"/*":")/4#"
/"#");""#%+16"%")"&"#""%#/%#%,8&%>("-7&"%6
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
69/77
(-7"%%>+#-7""75"6"#754"#&""&
+&"+"9>$%%%>+"#"#/>####448##">47!"!"69>:"",#""
&&(&"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
70/77
""$60%"%#"/"##/"$&"
,&0%"%&+&&(""#&&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
71/77
/""1""2"3"%"/%#"7"M7#&"2"&&"
7""""%"%!"*5"##"#"/$"69#"#&&"###""#&/+&&"7""/'"%%"&/&"#""&"%"&+&/+&&%!
5"+&"&&&"7"/1%"/+&&&+"""%8%9#/%"-/1"#9"+&&%&"###(#">
#"&"&0%"&"#"%1
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
72/77
"6"&&"#""6;4%"%%>;"&&"#""&""%#>
$"$#""//#"#%#""1""2"%%#""$#!&"442"9&&8!&>:"/&""&"#""#""#&""
&:"""#&&%#:":""&&&&:,.(-!(@9:,.!-8*7:!(@9,/-!,,9!,./>($%#)$#"%#&%##&&&""2"/&&"&&/%#"%#%/&"/"#"
,>"#7""+&&&&8"$&"&"!""%#""""##+#
#"%"%%#"#*#$"#"#:"2"":""&"#%"""""#"%%"&&"("+#%&"#"&
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
73/77
#""%""!"*>$&"6("##+)6
/+&&%""#"""#/&""#"&&!&"&%"""#(#&%&"""#"""$"""##+)"&""!&""&%#"#(&%#""%"##7""#"$-9-@-!/,5,9!,./
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
74/77
*."1*!2(/;#@,$#>5&
5&"%"5&"&&"8%%/"&!"###""%9"#
$"&%"%"%##"&&&6;"%#&%#%#%6/"&)&"$""#"%##"&"#6/#"#;"&"&"%&&6;"2""6/&&"
;"&=""""5"&%""7"67
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
75/77
&"$&>(&>;""""&)###6/"#""
&""#!"">%";#">("">("&">*!"">.&+",.9@-!/:,*(;09,10!"&$""%$""#"7",#"""&>%""#"&"%8("##&&"#
$""&""6""#$"%"#%"%"/+"8#")&+"8/"""1""#"#"#"##-+"
#-+""##+"8%#%/%-"%*#2""%"/&"/##&&"%#&"#%'>%##"%####"&>
/#"#(&/,#"&/""'""/"(&/""#/"&"#"%"#+"8&"#"&""",&"%)"##!"1#&"#"2"
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
76/77
%#&&&"#"B"58(/&"#5#,#"#1/"&"":""&">
(+"8"##!/",7"#/#%#>("&"("%"%%""&""##"##%"#%"&"
"#"""&%(#"%"#/&&"/"4/%7"""/%&("#/""&%"##"""""(%&"""#"7.//-!.9!!99>""&"
/&""7"#""9%"""&"&"#""##-"&"/%""&-%%"#/%""#/"/&"&"&"&"&
/%%"&"&+"8"&"&/&%###"&&"&"8#+"8;/%""""%"&%%#5#/#"#%###"#
-
8/14/2019 Ralph Parlette - The University Of Hard Knocks
77/77