Search results for: probability sampling

Authors: Ren Moses, Emmanuel Kidando, Eren Ozguven, Yassir Abdelrazig

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Although older drivers (defined as those of age 65 and above) are less involved with speeding, alcohol use as well as night driving, they are more vulnerable to severe crashes. The major contributing factors for severe crashes include frailty and medical complications. Several studies have evaluated the contributing factors on severity of crashes. However, few studies have established the impact of travel time reliability (TTR) on road safety. In particular, the impact of TTR on senior adults who face several challenges including hearing difficulties, decreasing of the processing skills and cognitive problems in driving is not well established. Therefore, this study focuses on determining possible impacts of TTR on the traffic safety with focus on elderly drivers. Historical travel speed data from freeway links in the study area were used to calculate travel time and the associated TTR metrics that is, planning time index, the buffer index, the standard deviation of the travel time and the probability of congestion. Four-year information on crashes occurring on these freeway links was acquired. The binary logit model estimated using the Markov Chain Monte Carlo (MCMC) sampling technique was used to evaluate variables that could be influencing elderly crash severity. Preliminary results of the analysis suggest that TTR is statistically significant in affecting the severity of a crash involving an elderly driver. The result suggests that one unit increase in the probability of congestion reduces the likelihood of the elderly severe crash by nearly 22%. These findings will enhance the understanding of TTR and its impact on the elderly crash severity.

Keywords: highway safety, travel time reliability, elderly drivers, traffic modeling

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Authors: Ahmed Deen

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The introduction of the mobile devices which were equipped with internet access and a camera, as well as the messaging services, has become a major inspiration for the use of the mobile devices in the growth in the reporting of news. Mobile journalism (MOJO) was a creation of modern technology, especially the use of mobile technology for video journalism purposes. MOJO, thus, is the process by which information is collected and disseminated to society, through the use of mobile technology, and even the use of the tablets. This paper seeks to better understand the ethics of Saudi mobile journalists towards news coverage. Also, this study aims to explore the relationship between minimizing harms and truth-seeking efforts among Saudi mobile journalists. Three main ethics were targeted in this study, which are seek truth and report it, minimize harm, and being accountable. Diffusion of innovation theory applied to reach this study’s goals. The non- probability sampling approach, ‘Snowball Sampling’ was used to target 124 survey participants, an online survey via SurveyMonkey that was distributed through social media platforms as a web link. The code of ethics of the Society of Professional Journalists has applied as a scale in this study. This study found that the relationship between minimizing harm and truth-seeking efforts is significantly moderate among Saudi mobile journalists. Also, it is found that the level journalistic experiences and using smartphones to cover news are weakly and negatively related to the perceptions of mobile journalism among Saudi journalists, while Saudi journalists who use their smartphone to cover the news between 1-3 years, were the majority of participants (55 participants by 51.4%).

Keywords: mobile journalism, Saudi journalism, smartphone, Saudi Arabia

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Authors: M. A. Tayfun, M. A. Alkhalidi

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The exact theoretical expression describing the probability distribution of nonlinear sea-surface elevations derived from the second-order narrowband model has a cumbersome form that requires numerical computations, not well-disposed to theoretical or practical applications. Here, the same narrowband model is re-examined to develop a simpler closed-form approximation suitable for theoretical and practical applications. The salient features of the approximate form are explored, and its relative validity is verified with comparisons to other readily available approximations, and oceanic data.

Keywords: ocean waves, probability distributions, second-order nonlinearities, skewness coefficient, wave steepness

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Authors: Bovornluck Kuosuwan, Kevin Wongleedee

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The purposes of this research was to study the level of satisfaction of international tourists in five important areas: satisfaction on visiting tourist destinations, satisfaction on tourist images, satisfaction on value for money, satisfaction on service quality, and satisfaction when compared with their expectation. A probability random sampling of 200 inbound tourists was utilized. A questionnaire was used to collect the data and small in-depth interviews were also used to get their opinions about their positive and negative evaluations of their experience travelling in Thailand. The findings revealed that the majority of respondents had a medium level of satisfaction. When examined in detail, the level of satisfaction can be ranked from highest to lowest according to the mean average as follows: visiting tourist destinations, expectations, service quality, tourist image, and value for money.

Keywords: inbound tourists, satisfaction, Thailand, international tourists

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Authors: Yoshiaki Shikata

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A prioritized processor-sharing (PS) system with a maximum permissible sojourn time (MPST) is proposed. In this PS system, a higher-priority request is allocated a larger service ratio than a lower-priority request. Moreover, each request receiving service is guaranteed the maximum permissible sojourn time determined by each priority class, regardless of its service time. Arriving requests that cannot receive service due to this guarantee are rejected. We further propose a guarantee method for implementing such a system, and discuss performance evaluation procedures for the resulting system. Practical performance measures, such as the relationships between the loss probability or mean sojourn time of each class request and the maximum permissible sojourn time are evaluated via simulation. At the arrival of each class request, its acceptance or rejection is judged using extended sojourn times of all requests receiving service in the server. As the MPST increases, the mean sojourn time increases almost linearly. However, the logarithm of the loss probability decreases almost linearly. Moreover with an MPST, the difference in the mean sojourn time for different MPSTs increases with the traffic rate. Conversely, the difference in the loss probability for different MPSTs decreases as the traffic rate increases.

Keywords: prioritized processor sharing, priority ratio, permissible sojourn time, loss probability, mean sojourn time, simulation

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Authors: Gebrekiros Welegebriel Asfaw

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The management of the fragile, unique and irreplaceable cultural heritage from different perspectives is becoming a major challenge as important elements of culture are vanishing throughout the globe. The major purpose of this study is to assess how the cultural heritages of Aksum are managed for their future sustainability from heritage conservation and interpretation perspectives. Descriptive type of research design inculcating both quantitative and qualitative research methods is employed. Primary quantitative data was collected from 189 respondents (19 professionals, 88 tourism service providers and 82 tourists) and interview was conducted with 33 targeted informants from heritage and related professions, security employees, local community, service providers and church representatives by applying probability and non probability sampling methods. Findings of the study reveal that the overall sustainable management status of the cultural heritage of Aksum is below average. It is found that the sustainability of cultural heritage management in Aksum is facing a lot of unfavorable factors like lack of long term planning, incompatible system of heritage administration, limited capacity and number of professionals, scant attention to community based heritage and tourism development, dirtiness and drainage problems, problems with stakeholder involvement and cooperation, lack of organized interpretation and presentation systems and others. So, re-organization of the management system, creating platform for coordination among stakeholders and developing appropriate interpretation system can be good remedies. Introducing community based heritage and tourism development concept is also recommendable for a long term win-win success in Aksum.

Keywords: Aksum, conservation, interpretation, Sustainable Cultural Heritage Management

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Authors: Gaironeesa Hendricks, Shazly Savahl, Maria Florence

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The aim of the study is to determine whether peer pressure and leisure boredom influence substance use among adolescents in low-income communities in Cape Town. Non-probability sampling was used to select 296 adolescents between the ages of 16–18 from schools located in two low-income communities. The measurement tools included the Drug Use Disorders Identification Test, the Resistance to Peer Influence and Leisure Boredom Scales. Multiple regression revealed that the combined influence of peer pressure and leisure boredom predicted substance use, while peer pressure emerged as a stronger predictor than leisure boredom on substance use among adolescents.

Keywords: substance use, peer pressure, leisure boredom, adolescents, multiple regression

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Authors: Anna Siuda-Bak

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This paper adopts a comparative approach to examining the determinants of international mobility of German, Italian and British researchers who completed their doctoral education in the UK. Structured sampling and data collection techniques have been developed in order to retrieve information on participants from publicly available sources. This systematically collected data was supplemented with an on-line survey which captures participants’ job trajectories, including movements between positions, institutions and countries. In total, data on 949 German, Italian and British PhDs was collected. Logistic regression was employed to identify factors associated with one’s probability of moving outside the UK after his or her graduation. The predictor variables included factors associated with one’s PhD (field of study, ranking of the university which awarded the PhD degree) and family factors (having a child, nationality of the partner). Then, 9 constrained models were estimated to test the effect each variable has on probability of going to a specific destination, being English-speaking country, non-English speaking country or returning to the home country. The results show that females, arts and humanities graduates, and respondents with a partner from the UK are less mobile than their counterparts. The effect of the ranking of the university differed in two groups. The UK graduates from higher ranked universities were more likely to move abroad than to stay in the UK after their graduation. In contrast, non-UK natives from the same universities were less likely to be internationally mobile than non-UK natives from lower ranked universities. The nationality of the partner was the most important predictor of the specific destination choices. Graduates with partner from the home county were more likely to return home and those with a partner from the third country least likely to return.

Keywords: doctoral graduates, international mobility, nationality, UK

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Authors: Yaacoub Tina, Youssef Roua, Radoi Emanuel, Burel Gilles

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Recently, low-complexity sub-Nyquist sampling schemes based on the Finite Rate of Innovation (FRI) theory have been introduced to sample parametric signals at minimum rates. The multichannel modulating waveforms (MCMW) is such an efficient scheme, where the received signal is mixed with an appropriate set of arbitrary waveforms, integrated and sampled at rates far below the Nyquist rate. In this paper, the MCMW scheme is adapted to the special case of ultra wideband (UWB) channel estimation, characterized by dense multipaths. First, an appropriate structure, which accounts for the bandpass spectrum feature of UWB signals, is defined. Then, a novel approach to decrease the number of processing channels and reduce the complexity of this sampling scheme is presented. Finally, the proposed concepts are validated by simulation results, obtained with real filters, in the framework of a coherent Rake receiver.

Keywords: coherent rake receiver, finite rate of innovation, sub-nyquist sampling, ultra wideband

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Authors: Michael Dole, Pierre Ninin, Denis Raffourt

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Most of the CERN’s facilities hosting particle accelerators are large, underground and radioactive areas. All fire detection systems installed in such areas, shall be carefully studied to cope with the particularities of this stringent environment. The detection equipment usually chosen by CERN to secure these underground facilities are based on air sampling technology. The electronic equipment is located in non-radioactive areas whereas air sampling networks are deployed in radioactive areas where fire detection is required. The air sampling technology provides very good detection performances and prevent the "radiation-to-electronic" effects. In addition, it reduces the exposure to radiations of maintenance workers and is permanently available during accelerator operation. In order to protect the Super Proton Synchrotron and its 7 km tunnels, a specific long distance aspirating smoke detector has been developed to detect smoke at up to 700 meters between electronic equipment and the last air sampling hole. This paper describes the architecture, performances and return of experience of the long distance fire detection system developed and installed to secure the CERN Super Proton Synchrotron tunnels.

Keywords: air sampling, fire detection, long distance, radioactive areas

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Authors: Encarnación Álvarez, Rosa M. García-Fernández, Juan F. Muñoz

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Estimation of a proportion has many applications in economics and social studies. A common application is the estimation of the low income proportion, which gives the proportion of people classified as poor into a population. In this paper, we present this poverty indicator and propose to use the logistic regression estimator for the problem of estimating the low income proportion. Various sampling designs are presented. Assuming a real data set obtained from the European Survey on Income and Living Conditions, Monte Carlo simulation studies are carried out to analyze the empirical performance of the logistic regression estimator under the various sampling designs considered in this paper. Results derived from Monte Carlo simulation studies indicate that the logistic regression estimator can be more accurate than the customary estimator under the various sampling designs considered in this paper. The stratified sampling design can also provide more accurate results.

Keywords: poverty line, risk of poverty, auxiliary variable, ratio method

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Authors: Zviad Ghadua, Biswa Bhattacharya

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The Flash Flood Guidance (FFG) provides the rainfall amount of a given duration necessary to cause flooding. The approach is based on the development of rainfall-runoff curves, which helps us to find out the rainfall amount that would cause flooding. An alternative approach, mostly experimented with Italian Alpine catchments, is based on determining threshold discharges from past events and on finding whether or not an oncoming flood has its magnitude more than some critical discharge thresholds found beforehand. Both approaches suffer from large uncertainties in forecasting flash floods as, due to the simplistic approach followed, the same rainfall amount may or may not cause flooding. This uncertainty leads to the question whether a probabilistic model is preferable over a deterministic one in forecasting flash floods. We propose the use of a Bayesian probabilistic approach in flash flood forecasting. A prior probability of flooding is derived based on historical data. Additional information, such as antecedent moisture condition (AMC) and rainfall amount over any rainfall thresholds are used in computing the likelihood of observing these conditions given a flash flood has occurred. Finally, the posterior probability of flooding is computed using the prior probability and the likelihood. The variation of the computed posterior probability with rainfall amount and AMC presents the suitability of the approach in decision making in an uncertain environment. The methodology has been applied to the Posina basin in Italy. From the promising results obtained, we can conclude that the Bayesian approach in flash flood forecasting provides more realistic forecasting over the FFG.

Keywords: flash flood, Bayesian, flash flood guidance, FFG, forecasting, Posina

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Authors: Francis Mugabi, Kevin Duffy, Joseph J. Y. T Mugisha, Obiora Collins

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Bluetongue virus (BTV) has 27 serotypes, with some of them coexisting in patchy (different) environments, which make its control difficult. Wind-aided midge movement is a known mechanism in the spread of BTV. However, its effects on the probability of coexistence of multiple BTV serotypes are not clear. Deterministic and stochastic models for r BTV serotypes in n discrete patches connected by midge and/or cattle movement are formulated and analyzed. For the deterministic model without midge and cattle movement, using the comparison principle, it is shown that if the patch reproduction number R0 < 1, i=1,2,...,n, j=1,2,...,r, all serotypes go extinct. If R^j_i0>1, competitive exclusion takes place. Using numerical simulations, it is shown that when the n patches are connected by midge movement, coexistence takes place. To account for demographic and movement variability, the deterministic model is transformed into a continuous-time Markov chain stochastic model. Utilizing a multitype branching process, it is shown that the midge movement can have a large effect on the probability of coexistence of multiple BTV serotypes. The probability of coexistence can be brought to zero when the control interventions that directly kill the adult midges are applied. These results indicate the significance of wind-aided midge movement and vector control interventions on the coexistence and control of multiple BTV serotypes in patchy environments.

Keywords: bluetongue virus, coexistence, multiple serotypes, midge movement, branching process

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Authors: Petr Gurný

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One of the most important tasks in the risk management is the correct determination of probability of default (PD) of particular financial subjects. In this paper a possibility of determination of financial institution’s PD according to the credit-scoring models is discussed. The paper is divided into the two parts. The first part is devoted to the estimation of the three different models (based on the linear discriminant analysis, logit regression and probit regression) from the sample of almost three hundred US commercial banks. Afterwards these models are compared and verified on the control sample with the view to choose the best one. The second part of the paper is aimed at the application of the chosen model on the portfolio of three key Czech banks to estimate their present financial stability. However, it is not less important to be able to estimate the evolution of PD in the future. For this reason, the second task in this paper is to estimate the probability distribution of the future PD for the Czech banks. So, there are sampled randomly the values of particular indicators and estimated the PDs’ distribution, while it’s assumed that the indicators are distributed according to the multidimensional subordinated Lévy model (Variance Gamma model and Normal Inverse Gaussian model, particularly). Although the obtained results show that all banks are relatively healthy, there is still high chance that “a financial crisis” will occur, at least in terms of probability. This is indicated by estimation of the various quantiles in the estimated distributions. Finally, it should be noted that the applicability of the estimated model (with respect to the used data) is limited to the recessionary phase of the financial market.

Keywords: credit-scoring models, multidimensional subordinated Lévy model, probability of default

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Authors: Mohammad Noor Hisham Osman, Ahmed Razman Abdul Latiff, Zaidi Mat Daud, Zulkarnain Muhamad Sori

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The problem that Malaysian auditors do not issue going concern opinion (GC opinion) to seriously financially distressed companies is still a pressing issue. Policy makers, particularly the Financial Statement Review Committee (FSRC) of Malaysian Institute of Accountant, have raised this issue as early as in 2009. Similar problem happened in the US, UK, and many developing countries. It is important for auditors to issue GC opinion properly because such opinion is one signal about the viability of a company much needed by stakeholders. There are at least two unanswered questions or research gaps in the literature on determinants of GC opinion. Firstly, is client’s probability of failure associated with GC opinion issuance? Secondly, to what extent influential owners (management, family, and institution) moderate the association between client probability of failure and GC opinion issuance. The objective of this study is, therefore, twofold; (1) To examine the extent of the relationship between the probability of client failure and the issuance of GC opinion and (2) To examine the level of management, family, and institutional ownerships moderate the association between client probability of failure and the issuance of GC opinion. This study is quantitative in nature, and the sources of data are secondary (mainly company’s annual reports). A total of four hypotheses have been developed and tested on data accumulated from annual reports of seriously financially distressed Malaysian public listed companies. Data from 2006 to 2012 on a sample of 644 observations have been analyzed using panel logistic regression. It is found that certainty (rather than probability) of client failure affects the issuance of GC opinion. In addition, it is found that only the level of family ownership does positively moderate the relationship between client probability of failure and GC opinion issuance. This study is a contribution to auditing literature as its findings can enhance our understanding about audit quality; particularly on the variables that are associated with the issuance of GC opinion. The findings of this study shed light on the roles family owners in GC opinion issuance process, and this would open ways for the researcher to suggest measures that can be used to tackle the problem of auditors do not want to issue GC opinion to financially distressed clients. The measures to be suggested can be useful to policy makers in formulating future promulgations.

Keywords: audit quality, auditing, auditor characteristics, going concern opinion, Malaysia

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Authors: Md Fazlul Kader, Soo Young Shin

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In this paper, we consider a cognitive relay network (CRN) in which the primary receiver (PR) is protected by peak transmit power $\bar{P}_{ST}$ and/or peak interference power Q constraints. In addition, the interference effect from the primary transmitter (PT) is considered to show its impact on the performance of the CRN. We investigate the outage probability (OP) and outage capacity (OC) of the CRN by deriving closed-form expressions over Rayleigh fading channel. Results show that both the OP and OC improve by increasing the cooperative relay nodes as well as when the PT is far away from the SR.

Keywords: cognitive relay, outage, interference limited, decode-and-forward (DF)

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Authors: Yao Fu, Xingli Zhang, Jiannong Shi

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Visual working memory (VWM) capacity is the ability to maintain and manipulate short-term information which is not currently available. It is well known for its significance to form the basis of numerous cognitive abilities and its limitation in holding information. VWM span, the most popular measurable indicator, is found to reach the adult level (3-4 items) around 12-13 years’ old, while less is known about the precision development of the VWM capacity. By using simultaneously delayed responses paradigm, the present study investigates the development of VWM precision among 6-18-year-old children and young adults, besides its possible relationships with fluid intelligence and span. Results showed that precision and span both increased with age, and precision reached the maximum in 16-17 age-range. Moreover, when remembering 3 simultaneously presented items, the probability of remembering target item correlated with fluid intelligence and the probability of wrap errors (misbinding target and non-target items) correlated with age. When remembering more items, children had worse performance than adults due to their wrap errors. Compared to span, VWM precision was effective predictor of intelligence even after controlling for age. These results suggest that unlike VWM span, precision developed in a slow, yet longer fashion. Moreover, decreasing probability of wrap errors might be the main reason for the development of precision. Last, precision correlated more closely with intelligence than span in childhood and adolescence, which might be caused by the probability of remembering target item.

Keywords: fluid intelligence, precision, visual working memory, wrap errors

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Authors: Zeyu Zhang, Guisheng Yin, Ziying Zhang, Liguo Zhang

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This paper mainly studies the path planning method based on ant colony optimization (ACO), and proposes heuristic integration ant colony optimization (HIACO). This paper not only analyzes and optimizes the principle, but also simulates and analyzes the parameters related to the application of HIACO in path planning. Compared with the original algorithm, the improved algorithm optimizes probability formula, tabu table mechanism and updating mechanism, and introduces more reasonable heuristic factors. The optimized HIACO not only draws on the excellent ideas of the original algorithm, but also solves the problems of premature convergence, convergence to the sub optimal solution and improper exploration to some extent. HIACO can be used to achieve better simulation results and achieve the desired optimization. Combined with the probability formula and update formula, several parameters of HIACO are tested. This paper proves the principle of the HIACO and gives the best parameter range in the research of path planning.

Keywords: ant colony optimization, heuristic integration, path planning, probability formula

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Authors: Huma Aly, Caramel Rodger, Saman Zafar

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The present study explored the role of caste system in determining and understanding various personality characteristics related to different castes. It analyzed various personality characteristics of Arains, Jutts and Sheikhs caste of Pakistan. Reasons for the emphasis on within caste marriage in relation to personality characteristics were identified. In the present study a sample of 200 unmarried students were taken from different institutes of Lahore, Pakistan. 117 students were taken from Fast University and 83 from LUMS (Lahore University of Management and Sciences) on the basis of purposive and convenience sampling. 76 Arains, 59 Sheikhs and 65 Jutts were taken. Non-probability purposive sampling, quantitative research method, big five personality scale were used. Kruskal Wallis test was used as three independent groups were taken in the study. Results revealed various personality characteristics associated with different castes namely Arain, Jutts and Sheikhs. Individuals belonging to Jutts caste were reported to be high on being talkative, findings faults, doing thorough job, being depressed, reservedness, quarrelling, reliable, tensed, deep thinker, worrying a lot, imaginative, lazy, inventive, assertive, cold aloof, preserved and rude. Arains were reported to be original, helpful, careless,relaxed, curious, enthusiastic, forgiving, quiet, trusting, moody, shy, retaining anger, routinely working, planners, nervous, playing with ideas, artistic, cooperative, easily distracted and sophisticated. Lastly, Sheikhs were reported to be energetic, disorganized, stable. This study will play a significant part in changing the traditional viewpoint of majority of elders of our society who still have immense association with the caste they belong to.

Keywords: castes, personality, Arains, Jutts, Sheikhs, Pakistan

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Authors: Kanikanun Photchong, Phusit Phukamchanoad

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The objective of this research is to study the people’s level of participation in activities of the community, their satisfaction towards the community, the attachment they have to the community, factors that influence the attachment, as well as the characteristics of the relationships of military families’ of the Royal Guards community of Dusit District. The method used was non-probability sampling by quota sampling according to people’s age. The determined age group was 18 years or older. One set of a sample group was done per family. The questionnaires were conducted by 287 people. Snowball sampling was also used by interviewing people of the community, starting from the Royal Guards Community’s leader, then by 20 of the community’s well-respected persons. The data was analyzed by using descriptive statistics, such as arithmetic mean and standard deviation, as well as by inferential statistics, such as Independent - Samples T test (T-test), One-Way ANOVA (F-test), Chi-Square. Descriptive analysis according to the structure of the interview content was also used. The results of the research is that the participation of the population in the Royal Guards Community in various activities is at a medium level, with the average participation level during Mother’s and Father’s Days. The people’s general level of satisfaction towards the premises of the Royal Guards Community is at the highest level. The people were most satisfied with the transportation within the community and in contacting with people from outside the premises. The access to the community is convenient and there are various entrances. The attachment of the people to the Royal Guards Community in general and by each category is at a high level. The feeling that the community is their home rated the highest average. Factors that influence the attachment of the people of the Royal Guards Community are age, status, profession, income, length of stay in the community, membership of social groups, having neighbors they feel close and familiar with, and as well as the benefits they receive from the community. In addition, it was found that people that participate in activities have a high level of positive relationship towards the attachment of the people to the Royal Guards Community. The satisfaction of the community has a very high level of positive relationship with the attachment of the people to the Royal Guards Community. The characteristics of the attachment of military families’ is that they live in big houses that everyone has to protect and care for, starting from the leader of the family as well as all members. Therefore, they all love the community they live in. The characteristics that show the participation of activities within the community and the high level of satisfaction towards the premises of the community will enable the people to be more attached to the community. The people feel that everyone is close neighbors within the community, as if they are one big family.

Keywords: community attachment, community satisfaction, royal guards community, activities of the community

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Authors: Tomas Menard

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The design of control-law for engineering systems has been investigated for many decades. While many results are concerned with continuous systems with continuous output, nowadays, many controlled systems have to transmit their output measurements through network, hence making it discrete-time. But it is well known that the sampling of a system whose control-law is based on the continuous output may render the system unstable, especially when this sampling period is long compared to the system dynamics. The control design then has to be adapted in order to cope with this issue. In this paper, we consider systems which can be modeled as double integrator with uncertainty on the input since many mechanical systems can be put under such form. We present a control scheme based on an observer using only discrete time measurement and which provides continuous time estimation of the state, combined with a continuous control law, which stabilized a system with second-order dynamics even in the presence of uncertainty. It is further shown that arbitrarily long sampling periods can be dealt with properly setting the control scheme parameters.

Keywords: dynamical system, control law design, sampled output, observer design

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Authors: Vincenzo Russo, Rosella Giacometti

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The paper aims to assess the insurance industry's resilience under Solvency II against adverse scenarios. Starting from the economic balance sheet available under Solvency II for insurance and reinsurance undertakings, we assume that assets and liabilities follow a bivariate geometric Brownian motion (GBM). Then, using the results available under Margrabe's formula, we establish an analytical solution to calibrate the volatility of the asset-liability ratio. In such a way, we can estimate the probability of default and the probability of breaching the undertaking's Solvency Capital Requirement (SCR). Furthermore, since estimating the volatility of the Solvency Ratio became crucial for insurers in light of the financial crises featured in the last decades, we introduce a novel measure that we call Resiliency Ratio. The Resiliency Ratio can be used, in addition to the Solvency Ratio, to evaluate the insurance industry's resilience in case of adverse scenarios. Finally, we introduce a simplified stress test tool to evaluate the economic balance sheet under stressed conditions. The model we propose is featured by analytical tractability and fast calibration procedure where only the disclosed data available under the Solvency II public reporting are needed for the calibration. Using the data published regularly by the European Insurance and Occupational Pensions Authority (EIOPA) in an aggregated form by country, an empirical analysis has been performed to calibrate the model and provide the related results at the country level.

Keywords: Solvency II, solvency ratio, volatility of the asset-liability ratio, probability of default, probability to breach the SCR, resilience ratio, stress test

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Authors: Rukhsana Kausar, Issam Malki

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The integration and assimilation of ethnic minority immigrants (EMIs) and their subsequent generations remains a serious unsettled issue in most of the host countries. This study conducts the labour market gender analysis to investigate specifically whether second generation of ethnic minority immigrants in the UK is gaining access to professional and managerial employment and advantaged occupational positions on par with their native counterparts. The data used to examine the labour market achievements of EMIs is taken from Labour Force Survey (LFS) for the period 2014-2018. We apply a multivalued treatment under ignorability as proposed by Cattaneo (2010), which refers to treatment effects under the assumptions of (i) selection – on – observables and (ii) common support. We report estimates of Average Treatment Effect (ATE), Average Treatment Effect on the Treated (ATET), and Potential Outcomes Means (POM) using three estimators, including the Regression Adjustment (RA), Augmented Inverse Probability Weighting (AIPW) and Inverse Probability Weighting- Regression Adjustment (IPWRA). We consider two cases: the case with four categories where the first-generation natives are the base category, the second case combine all natives as a base group. Our findings suggest the following. Under Case 1, the estimated probabilities and differences across groups are consistently similar and highly significant. As expected, first generation natives have the highest probability for higher career attainment among both men and women. The findings also suggest that first generation immigrants perform better than the remaining two groups, including the second-generation natives and immigrants. Furthermore, second generation immigrants have higher probability to attain higher professional career, while this is lower for a managerial career. Similar conclusions are reached under Case 2. That is to say that both first – generation and second – generation immigrants have a lower probability for higher career and managerial attainment. First – generation immigrants are found to perform better than second – generation immigrants.

Keywords: immigrnats, second generation, occupational attainment, ethnicity

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Authors: Ayesha S. Rahman, Khaled Haddad, Ataur Rahman

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At-site flood frequency analysis is used to estimate flood quantiles when at-site record length is reasonably long. In Australia, FLIKE software has been introduced for at-site flood frequency analysis. The advantage of FLIKE is that, for a given application, the user can compare a number of most commonly adopted probability distributions and parameter estimation methods relatively quickly using a windows interface. The new version of FLIKE has been incorporated with the multiple Grubbs and Beck test which can identify multiple numbers of potentially influential low flows. This paper presents a case study considering six catchments in eastern Australia which compares two outlier identification tests (original Grubbs and Beck test and multiple Grubbs and Beck test) and two commonly applied probability distributions (Generalized Extreme Value (GEV) and Log Pearson type 3 (LP3)) using FLIKE software. It has been found that the multiple Grubbs and Beck test when used with LP3 distribution provides more accurate flood quantile estimates than when LP3 distribution is used with the original Grubbs and Beck test. Between these two methods, the differences in flood quantile estimates have been found to be up to 61% for the six study catchments. It has also been found that GEV distribution (with L moments) and LP3 distribution with the multiple Grubbs and Beck test provide quite similar results in most of the cases; however, a difference up to 38% has been noted for flood quantiles for annual exceedance probability (AEP) of 1 in 100 for one catchment. These findings need to be confirmed with a greater number of stations across other Australian states.

Keywords: floods, FLIKE, probability distributions, flood frequency, outlier

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Authors: Oscar Javier Herrera, Manuel Angel Camacho

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This paper addresses a cutting edge method of business demand forecasting, based on an empirical probability function when the historical behavior of the data is random. Additionally, it presents error determination based on the numerical method technique ‘propagation of errors’. The methodology was conducted characterization and process diagnostics demand planning as part of the production management, then new ways to predict its value through techniques of probability and to calculate their mistake investigated, it was tools used numerical methods. All this based on the behavior of the data. This analysis was determined considering the specific business circumstances of a company in the sector of communications, located in the city of Bogota, Colombia. In conclusion, using this application it was possible to obtain the adequate stock of the products required by the company to provide its services, helping the company reduce its service time, increase the client satisfaction rate, reduce stock which has not been in rotation for a long time, code its inventory, and plan reorder points for the replenishment of stock.

Keywords: demand forecasting, empirical distribution, propagation of error, Bogota

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Authors: Zahra Esmaeily, Zahra Tajari, Shahrzad Daei, Mahshid Rezaei, Atefeh Eyvazkhani, Marjan Mansouri Dara, Ahmad Reza Dorosty Motlagh, Andriko Palmowski

Abstract:

Objective: Sarcopenia (SPA) is associated with frailty and disability in the elderly. Adherence to current dietary guidelines in addition to physical activity could play a role in the prevention of muscle wasting and weakness. The Healthy Eating Index-2015 (HEI) is a tool to assess diet quality as recommended in the U.S. Dietary Guidelines for Americans. This study aimed to investigate whether there is a relationship between HEI scores and the probability of SPA (PS) among the Tehran elderly. Method: A previously validated semi-quantitative food frequency questionnaire was used to assess HEI and the dietary intake of randomly selected elderly people living in Tehran, Iran. Handgrip strength (HGS) was measured to evaluate the PS. Statistical evaluation included descriptive analysis and standard test procedures. Result: 201 subjects were included. Those probably suffering from SPA (as determined by HGS) had significantly lower HEI scores (p = 0.02). After adjusting for confounders, HEI scores and HGS were still significantly associated (adjusted R2 = 0.56, slope β = 0.03, P = 0.09). Elderly people with a low probability of SPA consumed more monounsaturated and polyunsaturated fatty acids (P = 0.06) and ingested less added sugars and saturated fats (P = 0.01 and P = 0.02, respectively). Conclusion: In this cross-sectional study, HEI scores are associated with the probability of SPA. Adhering to current dietary guidelines might contribute to ameliorating muscle strength and mass in aging individuals.

Keywords: aging, HEI-2015, Iranian, sarcopenic

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Authors: Srinivasa Rao Gadde

Abstract:

In this article, we considered a group acceptance sampling plans for exponentiated half logistic distribution when the life-test is truncated at a pre-specified time. It is assumed that the index parameter of the exponentiated half logistic distribution is known. The design parameters such as the number of groups and the acceptance number are obtained by satisfying the producer’s and consumer’s risks at the specified quality levels in terms of medians and 10th percentiles under the assumption that the termination time and the number of items in each group are pre-fixed. Finally, an example is given to illustration the methodology.

Keywords: group acceptance sampling plan, operating characteristic, consumer and producer’s risks, truncated life-test

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Authors: Natnicha Hasoontree

Abstract:

The purposes of this research was to study the relationship of television viewers with brand awareness and brand loyalty from the perspective of customers in Bangkok. A probability random sampling of 482 television viewers was utilized. A Likert-five-scale questionnaire was designed to collect the data and small in-depth interviews were also used to obtain their opinions. The findings revealed that the majority of respondents reported a positive relationship between time of viewing television and brand awareness and brand loyalty. The more they watched the advertisement of a particular brand, the more positive the information was perceived and thereby increasing brand loyalty. Finally, the findings from the in-depth interviews with small group of television producers revealed that they are convinced that advertising exposure had a positive impact on brand awareness and brand loyalty.

Keywords: brand awareness, brand loyalty, television viewers, advertisement

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Authors: Carlson Murray, Ali Lazrak

Abstract:

Robust experimental evidence of systematic violations of expected utility (EU) establishes that individuals facing risk overweight utility from low probability gains and losses when making choices. These findings motivated development of models of preferences with probability weighting functions, such as rank dependent utility (RDU). We solve for the optimal investing strategy of an RDU investor in a dynamic binomial setting from which we derive implications for investing behavior. We show that relative to EU investors with constant relative risk aversion, commonly measured probability weighting functions produce optimal RDU terminal wealth with significant downside protection and upside exposure. We additionally find that in contrast to EU investors, RDU investors optimally choose a portfolio that contains fair bets that provide payo↵s that can be interpreted as lottery outcomes or exposure to idiosyncratic returns. In a calibrated version of the model, we calculate that RDU investors would be willing to pay 5% of their initial wealth for the freedom to trade away from an optimal EU wealth allocation. The dynamic trading strategy that supports the optimal wealth allocation implies portfolio weights that are independent of initial wealth but requires higher risky share after good stock return histories. Optimal trading also implies the possibility of non-participation when historical returns are poor. Our model fills a gap in the literature by providing new quantitative and qualitative predictions that can be tested experimentally or using data on household wealth and portfolio choice.

Keywords: behavioral finance, probability weighting, portfolio choice

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Authors: Habte Tadesse Likassa, Bacha Edosa

Abstract:

Customer’s satisfaction was very important thing that is required for the existence of banks to be more productive and success in any organization and business area. The main goal of the study is assessing and identifying factors that influence customer’s satisfaction in West Shoa Zone of Commercial Bank of Ethiopia (Holeta, Ginchi, Ambo, Gedo and Bako). Stratified random sampling procedure was used in the study and by using simple random sampling (lottery method) 520 customers were drawn from the target population. By using Probability Proportional Size Techniques sample size for each branch of banks were allocated. Both descriptive and inferential statistics methods were used in the study. A binary logistic regression model was fitted to see the significance of factors affecting customer’s satisfaction in this study. SPSS statistical package was used for data analysis. The result of the study reveals that the overall level of customer’s satisfaction in the study area is low (38.85%) as compared those who were not satisfied (61.15%). The result of study showed that all most all factors included in the study were significantly associated with customer’s satisfaction. Therefore, it can be concluded that based on the comparison of branches on their customers satisfaction by using odd ratio customers who were using Ambo and Bako are less satisfied as compared to customers who were in Holeta branch. Additionally, customers who were in Ginchi and Gedo were more satisfied than that of customers who were in Holeta. Since the level of customers satisfaction was low in the study area, it is more advisable and recommended for concerned body works cooperatively more in maximizing satisfaction of their customers.

Keywords: customers, satisfaction, binary logistic, complain handling process, waiting time

Procedia PDF Downloads 430