X Ltd. has 10 lakhs equity shares outstanding at the beginning of the accounting year 2016. The appropriate P/E ratio for the industry in which D Ltd. is 8.35. The earnings per share is Rs. 15 in the last twelve months and current P/E ratio for the company is 10. The EPS is expected to be Rs. 20 at the end of the accounting year and the company has an investment budget of Rs. 4 crores. Based on M-M approach calculate the market price of share of the company. (a) When the Board of Directors of the company has recommended Rs. 8 per share as dividend which is (i) declared, and (ii) not declared. (b) How many new shares are to be issued by the company at the end of the accounting year when (i) the above dividends are distributed, and (ii) dividends are not distributed. (c) Show that the market value of the shares of the company at the end of the accounting year will remain the same whether dividends are distributed or not declared. Price per share at the end of the year when dividend is declared (i. e. D1 = 8):

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.