Search results for: cumulative%20probabilities

Authors: Elzbieta Babula, Juhyun Park

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Tversky and Kahneman’s cumulative prospect theory assumes symmetric probability cumulation with regard to the reference point within decision weights. Theoretically, this model should be invariant under the change of the direction of probability cumulation. In the present study, this phenomenon is being investigated by creating a reference model that allows verifying the parameter interactions in the cumulative prospect theory specifications. The simultaneous parametric fitting of utility and weighting functions is applied to binary choice data from the experiment. The results show that the flexibility of the probability weighting function is a crucial characteristic allowing to prevent parameter interactions while estimating cumulative prospect theory.

Keywords: binary choice experiment, cumulative prospect theory, decision weights, parameter interactions

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Authors: Okhee Woo

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Purpose: The aim of this study is to evaluate 2-year cumulative effective radiation dose and cumulative organ dose on regular follow-up computed tomography (CT) scans in patients with breast cancer and to establish personalized low-dose CT protocol. Methods and Materials: A retrospective study was performed on the patients with breast cancer who were diagnosed and managed consistently on the basis of routine breast cancer follow-up protocol between 2012-01 and 2016-06. Based on ICRP (International Commission on Radiological Protection) 103, the cumulative effective radiation doses of each patient for 2-year follow-up were analyzed using the commercial radiation management software (Radimetrics, Bayer healthcare). The personalized effective doses on each organ were analyzed in detail by the software-providing Monte Carlo simulation. Results: A total of 3822 CT scans on 490 patients was evaluated (age: 52.32±10.69). The mean scan number for each patient was 7.8±4.54. Each patient was exposed 95.54±63.24 mSv of radiation for 2 years. The cumulative CT radiation dose was significantly higher in patients with lymph node metastasis (p = 0.00). The HER-2 positive patients were more exposed to radiation compared to estrogen or progesterone receptor positive patient (p = 0.00). There was no difference in the cumulative effective radiation dose with different age groups. Conclusion: To acknowledge how much radiation exposed to a patient is a starting point of management of radiation exposure for patients with long-term CT follow-up. The precise and personalized protocol, as well as iterative reconstruction, may reduce hazard from unnecessary radiation exposure.

Keywords: computed tomography, breast cancer, effective radiation dose, cumulative organ dose

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Authors: Omar Bobes, Abeer Al-Attar, Mohammad Hassan Kharita, Huda Al-Naemi

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The number of radiological examinations has increased steadily in recent years. As a result, the risk of possible radiation-induced consequential damage also increases through continuous, lifelong, and increasing exposure to ionizing radiation. Therefore, radiation dose monitoring in medicine became an essential element of medical practice. In this study, the occupational cumulative doses for radiation workers in Hamad medical corporation in Qatar have been assessed for a period of five years. The number of monitored workers selected for this study was 555 (out of a total of 1250 monitored workers) who have been working continuously -with no interruption- with ionizing radiation over the past five years from 2015 to 2019. The aim of this work is to examine the occupational groups and the activities where the higher radiation exposure occurred and in what order of magnitude. The most exposed group was the nuclear medicine technologist staff, with an average cumulative dose of 8.4 mSv. The highest individual cumulative dose was 9.8 mSv recorded for the PET-CT technologist category.

Keywords: cumulative dose, effective dose, monitoring, occupational exposure, dosimetry

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Authors: Masica Jordan Alston, Angela N. Bullock, Angela S. Henderson, Stephanie Strianse, Sade Dunn, Joseph Hackett, Alaysia Black Hackett, Marcus Mason

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The Energy Model of Cumulative Grief was created in 2018. The Energy Model of Cumulative Grief utilizes historic models of grief stage theories. The innovative model is additionally unique due to its focus on cultural responsiveness. The Energy Model of Cumulative Grief helps to train practitioners who work with clients dealing with grief and loss. This paper assists in introducing the world to this innovative model and exploring how this model positively impacted a convenience sample of 140 practitioners and individuals experiencing grief and loss. Respondents participated in Webinars provided by the National Grief and Loss Center of America (NGLCA). Participants in this cross-sectional research design study completed one of three Grief and Loss Surveys created by the Grief and Loss Centers of America. Data analysis for this study was conducted via SPSS and Survey Hero to examine survey results for respondents. Results indicate that the Energy Model of Cumulative Grief was an effective resource for participants in addressing grief and loss. The majority of participants found the Webinars to be helpful and a conduit to providing them with higher levels of hope. The findings suggest that using The Energy Model of Cumulative Grief is effective in providing culturally responsive grief and loss resources to practitioners and clients. There are far reaching implications with the use of technology to provide hope to those suffering from grief and loss worldwide through The Energy Model of Cumulative Grief.

Keywords: grief, loss, grief energy, grieving brain

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Authors: Amit Ghosh, Chanchal Kundu

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Recently, the notion of past cumulative inaccuracy (CPI) measure has been proposed in the literature as a generalization of cumulative past entropy (CPE) in univariate as well as bivariate setup. In this paper, we introduce the notion of CPI of order α (alpha) and study the proposed measure for conditionally specified models of two components failed at different time instants called generalized conditional CPI (GCCPI). We provide some bounds using usual stochastic order and investigate several properties of GCCPI. The effect of monotone transformation on this proposed measure has also been examined. Furthermore, we characterize some bivariate distributions under the assumption of conditional proportional reversed hazard rate model. Moreover, the role of GCCPI in reliability modeling has also been investigated for a real-life problem.

Keywords: cumulative past inaccuracy, marginal and conditional past lifetimes, conditional proportional reversed hazard rate model, usual stochastic order

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Authors: Nithi Sermsiriviboon, Somchai Supattarakul

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Dividend initiations are an economically significant event that has important implications for a firm’s future financial capacity. Given that the market’s expectation of a consistent payout, managers of IPO firms must approach the initial dividend decision cautiously. We compare the long run performance of IPO firms that initiated dividends with those of similarly matched non-payers. We found that firms which initiated dividends perform significantly better up to three years after the initiation date. Moreover, we measure investor reactions by 2-day around dividend announcement date cumulative abnormal return. We evidence no statistically significant differences between cumulative abnormal returns (CAR) of IPO firms and cumulative abnormal returns of Non-IPO firms, indicating that investors do not respond to dividend announcement of IPO firms more than they do to the dividend announcement of Non-IPO firms.

Keywords: dividend, initial public offerings, long-run performance, finance

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Authors: Min-Tsai Lai, Taqwa Hariguna

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This paper presents a periodical replacement model for a system, considering the concept of single and cumulative repair cost limits simultaneously. The failures are divided into two types. Minor failure can be corrected by minimal repair and serious failure makes the system breakdown completely. When a minor failure occurs, if the repair cost is less than a single repair cost limit L1 and the accumulated repair cost is less than a cumulative repair cost limit L2, then minimal repair is executed, otherwise, the system is preventively replaced. The system is also replaced at time T or at serious failure. The optimal period T minimizing the long-run expected cost per unit time is verified to be finite and unique under some specific conditions.

Keywords: repair-cost limit, cumulative repair-cost limit, minimal repair, periodical replacement policy

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Authors: Doan Van Chinh, Bui Thi Kien Trinh

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This paper outlines some statistical properties of residual sea level (RSL) at six representative tidal stations located along the coast of Vietnam. It was found that the positive RSL varied on average between 9.82 and 19.96cm and the negative RSL varied on average between -16.62 and -9.02cm. The maximum positive RSL varied on average between 102.8 and 265.5cm with the maximum negative RSL varied on average between -250.4 and -66.4cm. It is seen that the biggest positive RSL ere appeared in the summer months and the biggest negative RSL ere appeared in the winter months. The cumulative frequency of RSL less than 50 cm occurred between 95 and 99% of the times while the frequency of RSL higher than 100 cm accounted for between 0.01 and 0.2%. It also was found that the cumulative frequency of duration of RSL less than 24 hours occurred between 90 and 99% while the frequency of duration longer than 72 hours was in the order of 0.1 and 1%.

Keywords: coast of Vietnam, residual sea level, residual water, surge, cumulative frequency

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Authors: Abdel-Razzaq Mugdadi, Ruqayyah Sani

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The Kernel Distribution Function Estimator (KDFE) method is the most popular method for nonparametric estimation of the cumulative distribution function. The kernel and the bandwidth are the most important components of this estimator. In this investigation, we replace the kernel in the KDFE with a linear combination of kernels to obtain a new estimator based on the linear combination of kernels, the mean integrated squared error (MISE), asymptotic mean integrated squared error (AMISE) and the asymptotically optimal bandwidth for the new estimator are derived. We propose a new data-based method to select the bandwidth for the new estimator. The new technique is based on the Plug-in technique in density estimation. We evaluate the new estimator and the new technique using simulations and real-life data.

Keywords: estimation, bandwidth, mean square error, cumulative distribution function

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Authors: Jihene Jebeniani

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We proposed an approach combining both the techniques of experimental economy and the flexibility of discrete choice models in order to test the loss aversion. Our main objective was to test the loss aversion of the Cumulative Prospect Theory (CPT). We developed an experimental laboratory in the context of the financial investments that aimed to analyze the attitude towards the risk of the investors. The study uses the lotteries and is basing on econometric modeling. The estimated model was the ordered probit.

Keywords: risk aversion, behavioral finance, experimental economic, lotteries, cumulative prospect theory

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Authors: Petra Dilling

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This study examines the market reaction to the publication of integrated reports for a sample of 316 global companies for the reporting year 2018. Applying event study methodology, we find significant cumulative average abnormal returns (CAARs) after the publication date. To ensure robust estimation resultsthe three-factor model, according to Fama and French, is used as well as a market-adjusted model, a CAPM and a Frama-French model taking GARCH effects into account. We find a significant positive CAAR after the publication day of the integrated report. Our results suggest that investors react to information provided in the integrated report and that they react differently to the annual financial report. Furthermore, our cross-sectional analysis confirms that companies with a significant positive cumulative average abnormal show certain characteristic. It was found that European companies have a higher likelihood to experience a stronger significant positive market reaction to their integrated report publication.

Keywords: integrated report, event methodology, cumulative abnormal return, sustainability, CAPM

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Authors: Leslie M. Gutman

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Conduct problems (CP) represent a major dilemma, with wide-ranging and long-lasting individual and societal impacts. Children experience heterogeneous patterns of conduct problems; based on the age of onset, developmental course and related risk factors from around age 3. Early childhood represents a potential window for intervention efforts aimed at changing the trajectory of early starting conduct problems. Using the UK Millennium Cohort Study (n = 17,206 children), this study (a) identifies trajectories of conduct problems from ages 3 to 14 years and (b) assesses the cumulative and interactive effects of individual, family and socioeconomic risk factors from ages 9 months to 14 years. The same factors according to three domains were assessed, including child (i.e., low verbal ability, hyperactivity/inattention, peer problems, emotional problems), family (i.e., single families, parental poor physical and mental health, large family size) and socioeconomic (i.e., low family income, low parental education, unemployment, social housing). A cumulative risk score for the child, family, and socioeconomic domains at each age was calculated. It was then examined how the cumulative risk scores explain variation in the trajectories of conduct problems. Lastly, interactive effects among the different domains of cumulative risk were tested. Using group-based trajectory modeling, four distinct trajectories were found including a ‘low’ problem group and three groups showing childhood-onset conduct problems: ‘school-age onset’; ‘early-onset, desisting’; and ‘early-onset, persisting’. The ‘low’ group (57% of the sample) showed a low probability of conducts problems, close to zero, from 3 to 14 years. The ‘early-onset, desisting’ group (23% of the sample) demonstrated a moderate probability of CP in early childhood, with a decline from 3 to 5 years and a low probability thereafter. The ‘early-onset, persistent’ group (8%) followed a high probability of conduct problems, which declined from 11 years but was close to 70% at 14 years. In the ‘school-age onset’ group, 12% of the sample showed a moderate probability of conduct problems from 3 and 5 years, with a sharp increase by 7 years, increasing to 50% at 14 years. In terms of individual risk, all factors increased the likelihood of being in the childhood-onset groups compared to the ‘low’ group. For cumulative risk, the socioeconomic domain at 9 months and 3 years, the family domain at all ages except 14 years and child domain at all ages were found to differentiate childhood-onset groups from the ‘low’ group. Cumulative risk at 9 months and 3 years did not differentiate between the ‘school-onset’ group and ‘low’ group. Significant interactions were found between the domains for the ‘early-onset, desisting group’ suggesting that low levels of risk in one domain may buffer the effects of high risk in another domain. The implications of these findings for preventive interventions will be highlighted.

Keywords: conduct problems, cumulative risk, developmental trajectories, early childhood, adolescence

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Authors: Seon Soon Choi

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Magnesium alloy has been widely used in structure such as an automobile. It is necessary to consider probabilistic characteristics of a structural material because a fatigue behavior of a structure has a randomness and uncertainty. The purpose of this study is to find the characteristics of the cumulative distribution function (CDF) of the grown crack size at a specified fatigue crack propagation life and to investigate a statistical crack propagation in magnesium alloys. The statistical fatigue data of the grown crack size are obtained through the fatigue crack propagation (FCP) tests under different maximum fatigue load conditions conducted on the replicated specimens of magnesium alloys. The 3-parameter Weibull distribution is used to find the CDF of grown crack size. The CDF of grown crack size in case of larger maximum fatigue load has longer tail in below 10 percent and above 90 percent. The fatigue failure occurs easily as the tail of CDF of grown crack size becomes long. The fatigue behavior under the larger maximum fatigue load condition shows more rapid propagation and failure mode.

Keywords: cumulative distribution function, fatigue crack propagation, grown crack size, magnesium alloys, maximum fatigue load

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Authors: Tarah Bouaricha

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The impact of worst natural disasters is analysed in terms of insured losses which happened between 2010 and 2014 on S&P insurance index. Event study analysis is used to test whether natural disasters impact insurance index stock market price. There is no negative impact on insurance stock market price around the disasters event. To analyse the reaction of insurance stock market, normal returns (NR), abnormal returns (AR), cumulative abnormal returns (CAR), cumulative average abnormal returns (CAAR) and a parametric test on AR and on CAR are used.

Keywords: study event, natural disasters, insurance, reinsurance, stock market

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Authors: Picha Sriprachan

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The increase in electricity prices affects the cost of high-rise building construction. The objectives of this research are to study the electrical cost, trend of electrical cost and to forecast electrical cost of high-rise building construction. The methods of this research are: 1) to study electrical payment formats, cost data collection methods, and the factors affecting electrical cost of high-rise building construction, 2) to study the quantity and trend of cumulative percentage of the electrical cost, and 3) to forecast the electrical cost for different types of high-rise buildings. The results of this research show that the average proportion between electrical cost and the value of the construction project is 0.87 percent. The proportion of electrical cost for residential, office and commercial, and hotel buildings are closely proportional. If construction project value increases, the proportion of electrical cost and the value of the construction project will decrease. However, there is a relationship between the amount of electrical cost and the value of the construction project. During the structural construction phase, the amount of electrical cost will increase and during structural and architectural construction phase, electrical cost will be maximum. The cumulative percentage of the electrical cost is related to the cumulative percentage of the high-rise building construction cost in the same direction. The amount of service space of the building, number of floors and the duration of the construction affect the electrical cost of construction. The electrical cost of construction forecasted by using linear regression equation is close to the electrical cost forecasted by using the proportion of electrical cost and value of the project.

Keywords: high-rise building construction, electrical cost, construction phase, architectural phase

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Authors: S. Ravindran, Y.Liu, I. Gratchev, D.Jeng

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Rainfall-induced shallow landslides are more common in the northern New South Wales (NSW), Australia. From 2009 to 2017, around 105 rainfall-induced landslides occurred along the road corridors and caused temporary road closures in the northern NSW. Rainfall causing shallow landslides has different distributions of rainfall varying from uniform, normal, decreasing to increasing rainfall intensity. The duration of rainfall varied from one day to 18 days according to historical data. The objective of this research is to analyse slope instability of some of the sites in the northern NSW by varying cumulative rainfall using SLOPE/W and SEEP/W and compare with field data of rainfall causing shallow landslides. The rainfall data and topographical data from public authorities and soil data obtained from laboratory tests will be used for this modelling. There is a likelihood of shallow landslides if the cumulative rainfall is between 100 mm to 400 mm in accordance with field data.

Keywords: landslides, modelling, rainfall, suction

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Authors: Aakanchha Jain, D. V. Kohli

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Cubosomes are nanoparticles but instead of the solid particles, cubosomes are self-assembled liquid crystalline particles of certain surfactant with proper ratio of water with a microstructure that provides unique properties of practical interest. Cubosomes encapsulating Fluconazole were prepared by emulsification method and characterized for particle size, entrapment efficiency. The cubosomes prepared were 257.2±2.94 nm in size with drug entrapment efficiency of 66.2±2.69%. The optimized formulation characterized for shape and surface morphology by TEM and SEM analysis. SEM photograph showed the smooth surface of optimized cubosomes and TEM photograph revealed square somewhat circular intact shapes of cubosomes. MIC was determined by XTT based method and antifungal activity was determined in vitro. The cumulative percentage of Fnz from cubosomes permeated via dialysis membrane (MWCO 12-14 KD) showed a percent cumulative drug release of 76.86% while Fnz solution showed release up to 91.04% in 24 hours in PBS (pH 6.5)(p < 0.005).

Keywords: Candids albicans, cubosomes, fluconazole, topical delivery

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Authors: Hao-Hsi Tseng, Hsin-Yun Lee

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The Most Advantageous Tender (MAT) has been criticized for its susceptibility to dictatorial situations and for its processing of same score, same rank issues. This study applies the four criteria from Arrow's Impossibility Theorem to construct a mechanism for revealing illegitimate scores in scoring methods. While commonly be used to improve on problems resulting from extreme scores, ranking methods hide significant defects, adversely affecting selection fairness. To address these shortcomings, this study relies mainly on the overall evaluated score method, using standardized scores plus normal cumulative distribution function conversion to calculate the evaluation of vender preference. This allows for free score evaluations, which reduces the influence of dictatorial behavior and avoiding same score, same rank issues. Large-scale simulations confirm that this method outperforms currently used methods using the Impossibility Theorem.

Keywords: Arrow’s impossibility theorem, cumulative normal distribution function, most advantageous tender, scoring method

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Authors: Schröde C., Rodriguez D., Sánchez A., Abdul Malak, Churchill J., Boksmati T., Alharbi, Alsulmi H., Maghrabi S., Mowalad, Mutwalli R., Abualnaja Y.

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Formulating a strategy for sustainable development of the Kingdom of Saudi Arabia’s coastal and marine environment is at the core of the “Marine and Coastal Protection Assessment Study for the Kingdom of Saudi Arabia Coastline (MCEP)”; that was set up in the context of the Vision 2030 by the Saudi Arabian government and aimed at providing a first comprehensive ‘Status Quo Assessment’ of the Kingdom’s marine environment to inform a sustainable development strategy and serve as a baseline assessment for future monitoring activities. This baseline assessment relied on scientific evidence of the drivers, pressures and their impact on the environments of the Red Sea and Arabian Gulf. A key element of the assessment was the cumulative pressure hotspot analysis developed for both national waters of the Kingdom following the principles of the Driver-Pressure-State-Impact-Response (DPSIR) framework and using the cumulative pressure and impact assessment methodology. The ultimate goals of the analysis were to map and assess the main hotspots of environmental pressures, and identify priority areas for further field surveillance and for urgent management actions. The study identified maritime transport, fisheries, aquaculture, oil, gas, energy, coastal industry, coastal and maritime tourism, and urban development as the main drivers of pollution in the Saudi Arabian marine waters. For each of these drivers, pressure indicators were defined to spatially assess the potential influence of the drivers on the coastal and marine environment. A list of hotspots of 90 locations could be identified based on the assessment. Spatially grouped the list could be reduced to come up with of 10 hotspot areas, two in the Arabian Gulf, 8 in the Red Sea. The hotspot mapping revealed clear spatial patterns of drivers, pressures and hotspots within the marine environment of waters under KSA’s maritime jurisdiction in the Red Sea and Arabian Gulf. The cascading assessment approach based on the DPSIR framework ensured that the root causes of the hotspot patterns, i.e. the human activities and other drivers, can be identified. The adapted CPIA methodology allowed for the combination of the available data to spatially assess the cumulative pressure in a consistent manner, and to identify the most critical hotspots by determining the overlap of cumulative pressure with areas of sensitive biodiversity. Further improvements are expected by enhancing the data sources of drivers and pressure indicators, fine-tuning the decay factors and distances of the pressure indicators, as well as including trans-boundary pressures across the regional seas.

Keywords: Arabian Gulf, DPSIR, hotspot, red sea

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Authors: Chin-Chih Chang

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Many manufacturing systems suffer failures due to complex degradation processes and various environment conditions such as random shocks. Consider an operating system is subject to random shocks and works at random times for successive jobs. When successive jobs often result in production losses and performance deterioration, it would be better to do maintenance or replacement at a planned time. A preventive replacement (PR) policy is presented to replace the system before a failure occurs at a continuous time T. In such a policy, the failure characteristics of the system are designed as follows. Each job would cause a random amount of additive damage to the system, and the system fails when the cumulative damage has exceeded a failure threshold. Suppose that the deteriorating system suffers one of the two types of shocks with age-dependent probabilities: type-I (minor) shock is rectified by a minimal repair, or type-II (catastrophic) shock causes the system to fail. A corrective replacement (CR) is performed immediately when the system fails. In summary, a generalized maintenance model to scheduling replacement plan for an operating system is presented below. PR is carried out at time T, whereas CR is carried out when any type-II shock occurs and the total damage exceeded a failure level. The main objective is to determine the optimal continuous schedule time of preventive replacement through minimizing the mean cost rate function. The existence and uniqueness of optimal replacement policy are derived analytically. It can be seen that the present model is a generalization of the previous models, and the policy with preventive replacement outperforms the one without preventive replacement.

Keywords: preventive replacement, working time, cumulative damage model, minimal repair, imperfect maintenance, optimization

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Authors: Bouneua Khamphilavanh, Toshihiko Masui

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The penetration of EV (electric vehicle) technology in Lao road transportation, in this study, was analyzed by using the AIM/CGE [Laos] model. The computable general equilibrium (CGE) model was developed by the Asia-Pacific Integrated Model (AIM) team. In line with the increase of the number of road vehicles, the energy demand in the transport sector has been gradually increased which resulted in a large amount of budget spent for importing fossil fuels during the last decade, and a high carbon dioxide emission from the transport sector, hence the aim of this research is to analyze the impact of EVs penetration on economic and CO₂ emission in short-term, middle-term, and long-term. By the year 2050, the expected gross domestic product (GDP) value, due to Laos will spend more budget for importing the EV, will be gradually lost up to one percent. The cumulative CO₂ emission from 2020 to 2050 in BAU case will be 12,000 GgCO₂eq, and those in the EV mitigation case will be 9,300 GgCO₂eq, which accounting for likely 77% cumulative CO₂ emission reduction in the road transport sector by introducing the EV technology.

Keywords: GDP, CO₂ mitigation, CGE model, EV technology, transport

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Authors: Arash Azarpanah, Masoud Zadehbagheri, Shorangiz Javanmardi

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Abiotic stresses are the principle threat to plant growth and crop productivity all over the world. In order to improve the germination of corn seeds in drought stress conditions, effect of seed priming by various concentrations of salicylic acid (SA) (0.8 and 0.2 mM) on activities of catalase and peroxidase in Zea mays L. plant (Var-Sc.704) was evaluated at Agriculture Research Center located in Arsenjan city in Iran, during summer 2013. A farm research was done in RCBD as factorial with three replications. We considered four irrigation was carried out once the cumulative evaporation from Pan Class A come to 40, 60, 80 and 100 mm. Results illustrated that drought stress significantly increased activities of catalase and peroxidase and also treatment with salicylic acid significantly increased activities of catalase and peroxidase. In addition, treatment with salicylic acid enhances drought tolerance in Zea mays L. plant (Var-Sc.704) with increasing activities of antioxidant enzymes.

Keywords: catalase, corn, salicylic acid, water deficits stress, cumulative evaporation, Pan Class A

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Authors: Javed Khan, Aamir Saeed Malik, Nidal Kamel, Sarat Chandra Dass, Azura Mohd Affandi

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Low contrast images can result from the wrong setting of image acquisition or poor illumination conditions. Such images may not be visually appealing and can be difficult for feature extraction. Contrast enhancement of color images can be useful in medical area for visual inspection. In this paper, a new technique is proposed to improve the contrast of color images. The RGB (red, green, blue) color image is transformed into normalized RGB color space. Adaptive histogram equalization technique is applied to each of the three channels of normalized RGB color space. The corresponding channels in the original image (low contrast) and that of contrast enhanced image with adaptive histogram equalization (AHE) are morphed together in proper proportions. The proposed technique is tested on seventy color images of acne patients. The results of the proposed technique are analyzed using cumulative variance and contrast improvement factor measures. The results are also compared with decorrelation stretch. Both subjective and quantitative analysis demonstrates that the proposed techniques outperform the other techniques.

Keywords: contrast enhacement, normalized RGB, adaptive histogram equalization, cumulative variance.

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Authors: Armin Shirbazo, Mohammad Vahab, Hamed Lamei Ramandi, Jalal Fahimpour

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One of the most effective ways for increasing production in wells that are faced with problems such as pressure depletion and low rate is hydraulic fracturing. Hydraulic fracturing is creating a high permeable path through the reservoir and simulated area around the wellbore. This is very important for low permeability reservoirs, which their production is uneconomical. In this study, the influence of the fracturing pattern in multi-stage fractured horizontal wells is analyzed for a tight, heavy oil reservoir to explore the impact of fracturing patterns on improving oil recovery. The horizontal well has five transverse fractures with the same fracture length, width, height, and conductivity properties. The fracture patterns are divided into four distinct shapes: uniform shape, diamond shape, U shape, and W shape. The results show that different fracturing patterns produce various cumulative production after ten years, and the best pattern can be selected based on the most cumulative production. The result also illustrates that optimum design in fracturing can boost the production up to 3% through the permeability distribution around the wellbore and reservoir.

Keywords: multi-stage fracturing, horizontal well, fracture patterns, fracture length, number of stages

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Authors: Natalia Bustos Sierra, Katrien Tersago

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It is currently proven that both extremes of temperature are associated with increased mortality and that air pollution is associated with temperature. This relationship is complex, and in countries with important seasonal variations in weather such as Belgium, some effects can appear as non-significant when the analysis is done over the entire year. We, therefore, analyzed the effect of short-term outdoor air pollution exposure on cardiovascular mortality during the warmer and colder months separately. We used daily cardiovascular deaths from acute cardiovascular diagnostics according to the International Classification of Diseases, 10th Revision (ICD-10: I20-I24, I44-I49, I50, I60-I66) during the period 2008-2013. The environmental data were population-weighted concentrations of particulates with an aerodynamic diameter less than 10 µm (PM₁₀) and less than 2.5 µm (PM₂.₅) (daily average), nitrogen dioxide (NO₂) (daily maximum of the hourly average) and ozone (O₃) (daily maximum of the 8-hour running mean). A Generalized linear model was applied adjusting for the confounding effect of season, temperature, dew point temperature, the day of the week, public holidays and the incidence of influenza-like illness (ILI) per 100,000 inhabitants. The relative risks (RR) were calculated for an increase of one interquartile range (IQR) of the air pollutant (μg/m³). These were presented for the four hottest months (June, July, August, September) and coldest months (November, December, January, February) in Belgium. We applied both individual lag model and unconstrained distributed lag model methods. The cumulative effect of a four-day exposure (day of exposure and three consecutive days) was calculated from the unconstrained distributed lag model. The IQR for PM₁₀, PM₂.₅, NO₂, and O₃ were respectively 8.2, 6.9, 12.9 and 25.5 µg/m³ during warm months and 18.8, 17.6, 18.4 and 27.8 µg/m³ during cold months. The association with CV mortality was statistically significant for the four pollutants during warm months and only for NO₂ during cold months. During the warm months, the cumulative effect of an IQR increase of ozone for the age groups 25-64, 65-84 and 85+ was 1.066 (95%CI: 1.002-1.135), 1.041 (1.008-1.075) and 1.036 (1.013-1.058) respectively. The cumulative effect of an IQR increase of NO₂ for the age group 65-84 was 1.066 (1.020-1.114) during warm months and 1.096 (1.030-1.166) during cold months. The cumulative effect of an IQR increase of PM₁₀ during warm months reached 1.046 (1.011-1.082) and 1.038 (1.015-1.063) for the age groups 65-84 and 85+ respectively. Similar results were observed for PM₂.₅. The short-term effect of air pollution on cardiovascular mortality is greater during warm months for lower pollutant concentrations compared to cold months. Spending more time outside during warm months increases population exposure to air pollution and can, therefore, be a confounding factor for this association. Age can also affect the length of time spent outdoors and the type of physical activity exercised. This study supports the deleterious effect of air pollution on cardiovascular mortality (CV) which varies according to season and age groups in Belgium. Public health measures should, therefore, be adapted to seasonality.

Keywords: air pollution, cardiovascular, mortality, season

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Authors: Harjot Singh Gill, Neelkanth Grover, Jwala Parshad Singla

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The main aim of this research work is to present the effect of coating on two different grades of grey cast iron using detonation spray method. Ni20Cr and Al2O3-13TiO2 powders were sprayed using detonation gun onto GI250 and GIHC substrates and the results as well as coating surface morphology of the coating is studied by XRD and SEM/EDAX analysis. The wear resistance of Ni20Cr and Al2O3-13TiO2 has been investigated on pin-on-disc tribometer using ASTM G99 standards. Cumulative wear rate and coefficient of friction (µ) were calculated under three normal load of 30N, 40N, 50N at constant sliding velocity of 1m/s. Worn out surfaces were analyzed by SEM/EDAX. The results show significant resistance to wear with Al2O3-13TiO2 coating as compared to Ni20Cr and bare substrates. SEM/EDAX analysis and cumulative wear loss bar charts clearly explain the wear behavior of coated as well as bare sample of GI250 and GIHC.

Keywords: detonation spray, grey cast iron, wear rate, coefficient of friction

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Authors: Valerii Dashuk

Abstract:

The usage of the confidence intervals in economics and econometrics is widespread. To be able to investigate a random variable more thoroughly, joint tests are applied. One of such examples is joint mean-variance test. A new approach for testing such hypotheses and constructing confidence sets is introduced. Exploring both the value of the random variable and its deviation with the help of this technique allows checking simultaneously the shift and the probability of that shift (i.e., portfolio risks). Another application is based on the normal distribution, which is fully defined by mean and variance, therefore could be tested using the introduced approach. This method is based on the difference of probability density functions. The starting point is two sets of normal distribution parameters that should be compared (whether they may be considered as identical with given significance level). Then the absolute difference in probabilities at each 'point' of the domain of these distributions is calculated. This measure is transformed to a function of cumulative distribution functions and compared to the critical values. Critical values table was designed from the simulations. The approach was compared with the other techniques for the univariate case. It differs qualitatively and quantitatively in easiness of implementation, computation speed, accuracy of the critical region (theoretical vs. real significance level). Stable results when working with outliers and non-normal distributions, as well as scaling possibilities, are also strong sides of the method. The main advantage of this approach is the possibility to extend it to infinite-dimension case, which was not possible in the most of the previous works. At the moment expansion to 2-dimensional state is done and it allows to test jointly up to 5 parameters. Therefore the derived technique is equivalent to classic tests in standard situations but gives more efficient alternatives in nonstandard problems and on big amounts of data.

Keywords: confidence set, cumulative distribution function, hypotheses testing, normal distribution, probability density function

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Authors: Palaniraj Rama Raj, Himeesh Kumar, Paul Adler

Abstract:

Purpose: To investigate the effect of ultrasound energy, expressed as cumulative dissipated energy (CDE), on short and long-term outcomes after uncomplicated cataract surgery by phacoemulsification. Methods: In this single-surgeon, two-center retrospective study, non-glaucomatous participants who underwent uncomplicated cataract surgery were investigated. Best-corrected visual acuity (BCVA) and intraocular pressure (IOP) were measured at 3 separate time points: pre-operative, Day 1 and ≥1 month. Anterior chamber (AC) inflammation and corneal odema (CO) were assessed at 2 separate time points: Pre-operative and Day 1. Short-term changes (Day 1) in BCVA, IOP, AC and CO and long-term changes (≥1 month) in BCVA and IOP were evaluated as a function of CDE using a multivariate multiple linear regression model, adjusting for age, gender, cataract type and grade, preoperative IOP, preoperative BCVA and duration of long-term follow-up. Results: 110 eyes from 97 non-glaucomatous participants were analysed. 60 (54.55%) were female and 50 (45.45%) were male. The mean (±SD) age was 73.40 (±10.96) years. Higher CDE counts were strongly associated with higher grades of sclerotic nuclear cataracts (p <0.001) and posterior subcapsular cataracts (p <0.036). There was no significant association between CDE counts and cortical cataracts. CDE counts also had a positive correlation with Day 1 CO (p <0.001). There was no correlation between CDE counts and Day 1 AC inflammation. Short-term and long-term changes in post-operative IOP did not demonstrate significant associations with CDE counts (all p >0.05). Though there was no significant correlation between CDE counts and short-term changes in BCVA, higher CDE counts were strongly associated with greater improvements in long-term BCVA (p = 0.011). Conclusion: Though higher CDE counts were strongly associated with higher grades of Day 1 postoperative CO, there appeared to be no detriment to long-term BCVA. Correspondingly, the strong positive correlation between CDE counts and long-term BCVA was likely reflective of the greater severity of underlying cataract type and grade. CDE counts were not associated with short-term or long-term postoperative changes in IOP.

Keywords: cataract surgery, phacoemulsification, cumulative dissipated energy, CDE, surgical outcomes

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Authors: Yu-Chen Wei, Yang-Cheng Lu, I-Chi Lin

Abstract:

This study examines the impacts of news sentiment and press freedom on abnormal returns during the earnings announcement in greater China including the Shanghai, Shenzhen and Taiwan stock markets. The news sentiment ratio is calculated by using the content analysis of semantic orientation. The empirical results show that news released prior to the event date may decrease the cumulative abnormal returns prior to the earnings announcement regardless of whether it is released in China or Taiwan. By contrast, companies with optimistic financial news may increase the cumulative abnormal returns during the announcement date. Furthermore, the difference in terms of press freedom is considered in greater China to compare the impact of press freedom on abnormal returns. The findings show that, the freer the press is, the more negatively significant will be the impact of news on the abnormal returns, which means that the press freedom may decrease the ability of the news to impact the abnormal returns. The intuition is that investors may receive alternative news related to each company in the market with greater press freedom, which proves the efficiency of the market and reduces the possible excess returns.

Keywords: news, press freedom, Greater China, earnings announcement, abnormal returns

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Authors: Ons Triki, Fathi Abid

Abstract:

Along with the increase in the use of leasing contracts in corporate finance, multiple studies aim to model the credit risk of the lease in order to cover the losses of the lessor of the asset if the lessee goes bankrupt. In the current research paper, a convertible lease contract is elaborated in a continuous time stochastic universe aiming to ensure the financial stability of the firm and quickly recover the losses of the counterparties to the lease in case of default. This work examines the term structure of the lease rates taking into account the credit default risk and the capital structure of the firm. The interaction between the lessee's capital structure and the equilibrium lease rate has been assessed by applying the competitive lease market argument developed by Grenadier (1996) and the endogenous structural default model set forward by Leland and Toft (1996). The cumulative probability of default was calculated by referring to Leland and Toft (1996) and Yildirim and Huan (2006). Additionally, the link between lessee credit risk and lease rate was addressed so as to explore the impact of convertible lease financing on the term structure of the lease rate, the optimal leverage ratio, the cumulative default probability, and the optimal firm value by applying an endogenous conversion threshold. The numerical analysis is suggestive that the duration structure of lease rates increases with the increase in the degree of the market price of risk. The maximal value of the firm decreases with the effect of the optimal leverage ratio. The results are indicative that the cumulative probability of default increases with the maturity of the lease contract if the volatility of the asset service flows is significant. Introducing the convertible lease contract will increase the optimal value of the firm as a function of asset volatility for a high initial service flow level and a conversion ratio close to 1.

Keywords: convertible lease contract, lease rate, credit-risk, capital structure, default probability

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