Judul: Investment Analysis Study of Ecotourism Development  in Sentul Eco Edu Tourism Forest (SEETF) Perum Perhutani KPH Bogor
Abstrak: Sentul Eco Edu Tourism Forest (SEETF) adalah kawasan ekowisata di hutan lindung yang difokuskan untuk keperluan ekonomi, pendidikan, dan pariwisata. Lokasi ekowisata SEETF berada di dalam wilayah kerja Perum Perhutani KPH Bogor dan merupakan hasil Kerjasama antara Pemerintah Republik Indonesia dengan Pemerintah Korea Selatan (Korea-Indonesia Forest Center - KIFC). Tujuan penelitian ini adalah untuk mengidentifikasi potensi usaha yang ada di objek ekowisata SEETF dan melakukan analisis investasi yang ditinjau dari aspek finansial agar dapat menilai kelayakan usaha ekowisata SEETF menggunakan metode Discounted Cash Flow dengan kriteria Net Present Value (NPV), Benefit Cost Ratio (BCR), dan Internal Rate of Return (IRR). Analisis finansial menunjukkan bahwa investasi ekowisata SEETF tidak layak untuk dijalankan. Analisis potensi usaha forest healing menunjukkan bahwa ekowisata SEETF memiliki kinerja finansial yang lebih baik dengan pengenaan tarif tiket yang optimal untuk forest healing. Selain itu berdasarkan wawancara, sebanyak 76,7% responden menyatakan ingin kembali mengunjungi SEETF apabila fasilitas tersebut dibangun, Sentul Eco Edu Tourism Forest (SEETF) is a protected forest area focused on economic, educational, and tourism. It results from cooperation between the Government of the Republic of Indonesia and South Korea (Korea-Indonesia Forest Center-KIFC). The location of SEETF ecotourism is within the working area of Perum Perhutani KPH Bogor. This study aims to identify the potential of the existing business in the SEETF and make a feasibility study using financial analysis by employing a discounted cash flow based on the criteria of Net Present Value (NPV), Benefit-Cost Ratio (BCR), and Internal Rate of Return (IRR). Financial analysis shows that SEETF’s ecotourism investment is not feasible. The financial analysis of “forest healing” shows that SEETF’s financial performance could be better while applying an optimal ticket rate. It is also important to note that 76,7% of respondents will revisit SEETF for forest healing
Keyword: feasibility study, financial analysis, investment, forest healing, SEETF

Judul: Business Feasibility of Healing Forest Tourism at Cibodas Botanical Garden, Cianjur, West Java
Abstrak: Riset Kesehatan Dasar Kementerian Kesehatan tahun 2018 menunjukkan bahwa penduduk berusia diatas 15 tahun mengalami beberapa masalah kesehatan mental. Salah satu cara mengatasi hal tersebut adalah dengan ekowisata healing forest yaitu wisata alam untuk menyehatkan mental dengan memanfaatkan hutan dan alam terbuka. Healing forest cocok dikembangkan di kawasan konservasi seperti Kebun Raya Cibodas (KRC). Pengembangan wisata healing forest memerlukan investasi yang cukup besar sehingga diperlukan kajian rencana tersebut sebelum direalisasikan. Penelitian ini bertujuan menganalisis kelayakan pengembangan healing forest di KRC pada aspek non finansial dan finansial. Berdasarkan hasil analisis non finansial, KRC layak untuk mengembangkan wisata healing forest karena memenuhi aspek-aspek kelayakan non finansial yang dianalisis. Berdasarkan hasil analisis finansial, skenario II (dengan healing forest) memiliki nilai kelayakan yang lebih tinggi dibanding skenario I (tanpa healing forest) dengan NPV Rp33.064.376.263; IRR 66,65 persen; Net B/C 9,10; dan Payback Period 3 tahun 5 bulan. Berdasarkan hasil analisis switching value dengan variabel penurunan jumlah pengunjung dan kenaikan gaji karyawan, wisata healing forest (skenario II) memiliki nilai switching value yang lebih besar, sehingga daya tahan bisnisnya lebih baik., The Ministry of Health's Basic Health Research in 2018 shows that people over 15 years old experience several mental health problems. One way to overcome this is with ecotourism healing forest, namely nature tourism to nourish mental health by utilizing forests and the outdoors. Healing forest is suitable to be developed in conservation areas such as Cibodas Botanical Garden (KRC). The development of healing forest tourism requires a large enough investment so that a study of the plan is needed to be realized. This study aims to analyze the feasibility of developing a healing forest in KRC on non-financial and financial aspects. Based on the results of the non-financial analysis, KRC is feasible to develop healing forest tourism because it meets the non-financial feasibility aspects analyzed. Based on the results of the financial analysis, scenario II (with healing forest) has a higher feasibility value than scenario I (without healing forest) with NPV Rp33,064,376,263; IRR 66.65 percent; Net B/C 9.10; and Payback Period 3 years 5 months. Based on the results of the switching value analysis with a variable decrease in the number of visitors and an increase in employee salaries, healing forest tourism (scenario II) has a greater switching value, so its business resilience is better.
Keyword: healing forest, development, feasibility, investment

Judul: Approximation of the Median of Poisson Distribution Using the Relation of Poisson-Gamma Distribution
Abstrak: A major drawback of median is that median cannot usually be defined in closed form, even in the cases where their distribution functions are known. This study gives an approximation of the closed form for the median of the Poisson distribution by using the relation of Poisson-Gamma distribution. The approximation uses elementary techniques based on the monotonicity of certain sequences involving tail probabilities of the Poisson distribution and the Central Limit Theorem. Furthermore, a closed form expression for the mean absolute deviation 􀜧|􀜰􀰒 􀵆 􀜯􀝁􀝀􁈺􀜰􀰒􁈻| is also studied. The median is relevant because of the fact that it minimizes the mean absolute deviation of a Poisson random variable (􀜰􀰒􁈻 by considering median as central tendency.
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