Judul: Microbiological and Organoleptic Properties of Yogurt Based on Lactose-Free Milk
Abstrak: Beberapa orang tidak dapat mengonsumsi susu karena mengalami intoleransi laktosa. Dalam menanggulangi masalah tersebut, industri susu memanfaatkan enzim laktase (ß-galaktosidase) untuk memproduksi susu bebas laktosa. Susu bebas laktosa dapat diolah menjadi berbagai olahan produk, salah satunya yaitu yoghurt. Penelitian ini bertujuan menganalisis sifat mikrobiologi dan organoleptik yoghurt dengan bahan dasar susu bebas laktosa. Rancangan yang digunakan dalam penelitian ini adalah uji t dengan perlakuan bahan dasar yoghurt yang berbeda yaitu susu bebas laktosa dan susu biasa. Hasil penelitian menunjukkan bahwa yoghurt bebas laktosa tidak berpengaruh nyata (P>0,05) terhadap total bakteri asam laktat dan nilai pH. Hasil pengujian hedonik dan mutu hedonik berpengaruh nyata pada parameter warna, sedangkan pada parameter aroma, rasa, dan kekentalan tidak berpengaruh nyata. Hasil p, Some people cannot consume milk because they are lactose intolerance. To overcome this problem, the dairy industry uses the enzyme lactase (ß-galactosidase) to produce lactose-free milk. Lactose-free milk can be processed into various products, one of which is yogurt. This study aimed to analyze the microbiological and organoleptic properties of yogurt based on lactose-free milk. The design used in this study was a t-test with different of yogurt base ingredients, namely lactosefree milk and regular milk. The results showed that lactose-free yoghurt had no significant effect (P>0.05) on total lactic acid bacteria and pH value. The results of hedonic testing and hedonic quality had a significant effect on the color parameters, while the aroma, taste and viscosity parameters had no significant effect. The results of this study showed that yoghurt can be made from lactose-free milk.
Keyword: Yoghurt, lactose, Lactose Intolerance, Lactose-Free

Judul: Chemical Properties and Total Lactic Acid Bacteria of Probiotik Yogurt with Addition of Red Fruit (Pandanus conoideus L.)
Abstrak: Produk susu fermentasi yang menggunakan bakteri Lactobacillus bulgaricus and Streptococcus thermophilus dan atau bakteri asam laktat lain disebut yogurt. Penambahan probiotik pada yogurt dapat membantu memperbaiki proses pencernaan. Buah merah memiliki kandungan senyawa antioksidan dan karotenoid. Penelitian ini bertujuan menganalisis sifat kimia dan total bakteri asam laktat yogurt probiotik dengan penambahan buah merah. Persentase buah merah yang ditambahkan ke dalam yogurt yaitu 0%, 2,5%, dan 5%. Pengujian yang dilakukan pada penelitian ini, yaitu uji sifat kimia meliputi kadar lemak, protein, air, abu, nilai pH, keasaman tertitrasi, serta uji total bakteri asam laktat. Analisis data yang digunakan adalah Rancangan Acak lengkap, dengan tiga kali ulangan. Hasil dari penelitian ini menunjukkan bahwa penambahan ekstrak buah merah ke dalam yogurt probiotik dengan persentase yang berbeda berpengaruh nyata (P<0,05) pada pH dan keasaman tertitrasi. Seluruh yogurt P0, P1, P2 menunjukkan nilai mikrobiologi yang sesuai sebagai minuman probiotik. Yogurt P1 dengan penambahan 2,5% ekstrak buah merah menjadi produk terbaik yang sesuai dengan mutu SNI., Fermented milk products that use Lactobacillus bulgaricus and Streptococcus thermophilus bacteria and or other lactic acid bacteria called yoghurt. The addition of probiotic to yoghurt can improve the digestive process. Red fruit contains antioxidants and carotenoids. This study aims to analyze the chemical properties and total lactic acid bacteria of probiotic yoghurt with addition of red fruit extract. The percentages of red fruit added to yoghurt is 0%, 2,5%, and 5%. The analysis carried out in this study was chemical analysis including the content of fat, protein, water, ash, pH value, titrated acidity, and total lactic acid bacteria. Data analysis used was Completely Randomized Design with three repetitions. The result of this research indicated that the addition of red fruit extract into probiotic yoghurt with different percentages had a significant effect (P<0,05) on pH and titrated acidity. All yoghurts P0, P1, P2 showed appropriate microbiological value as probiotic drinks. Yoghurt P1 with the addition of 2,5% red fruit extract is the best product according to the Indonesian National Standard.
Keyword: hemical properties, lactic acid bacteria, probiotic, red fruit, yoghurt

Judul: Real Option Valuation Using Binomial Decision Trees.
Abstrak: A firm that decides to invest has a choice to invest in real assets. A method which is usually used in valuation of the project is discounted cash flow (DCF) method. But, this method can’t be used in projects that account for value of managerial flexibility, such as decision to suspend operations temporarily. Therefore, this kind of project needs to be assessed using real option. Real option valuation can be done in some ways, including the use of path-dependent simulation, as well as closed-form models like Black-Scholes model, partial differential equation, and binomial or multinomial approaches. In this paper, real option valuation using binomial decisions id discussed. Determination of the project value can be done in three steps. First, calculate the expected present value of the project. Next, calculate volatility of the project using Monte Carlo simulation. Last, construct a binomial tree to model the dynamics of the project value using the parameters of the stochastic process, and then add some decision nodes to model the project’s real options.
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