Ambiguity Aversion and Mutual Funds: Evidence from China

I provide empirical evidence of ambiguity averse investors’ behaviour in Chinas mutual funds market. My analysis is motivated by the substantial uncertainty in China’s mutual funds market, and theoretical research of decision indicates that investors would be more ambiguity averse when face higher uncertainty. The most substantial implication of the empirical research is that investors tend to place more weight on the worst signal. Across multiple horizons, fund flows will also display more sensitivity to the worst performance. I also conduct robustness test about the different rank funds by Morningstar rating and compare the positive and negative performance during the minimum performance period.

Minimum performance level definition for bone plate testing according to standard: A preliminary study

In silico modeling of osteosynthesis medical devices allows the reduction of the time required for experimental tests and the introduction of “simulation-driven design”. Using a wise combination of these techniques and analytical calculations, it is possible to relate the experimental results, which are mandatory for regulatory purposes, to the plate physiological application and prevent the occurrence of complications in the early stages after the orthopedic device implantation on humans and animals.

Regional Mobile Telecommunications Performance

Mobile Telecommunications is an essential service that fundamentally affects quality of life by improving communication, the ability of business and industry to improve productivity and for the nation to compete successfully in the global digital economy. There are three fundamental and measurable parameters that, when combined, provide the basis upon which judgements about mobile telecommunications can be made. The parameters are cost, access and performance. Information is readily available about the first two parameters. Quantifiable information is not available about performance. Regional mobile telecommunications is further complicated by factors including population density, the cost of transit or backhaul and infrastructure subsidies. This paper provides a discussion on regional mobile telecommunications performance and focuses on throughput (capacity). The paper recommends that regional mobile telecommunications performance data be collected and that minimum performance standards for regional mobile telecommunications be legislated.

Nitrogen as an environmentally friendly suppression agent for aircraft cargo fire safety

Fire suppression systems in cargo compartments are a certification requirement for commercial aircraft safety. Halon production was banned and usage ends in 2040 according to Montreal Protocol for environmental reasons. This necessitates an alternative environmentally friendly agent. Quantitative analysis of nitrogen as agent established suitability of the suppression system. The Minimum Performance Standards specifies the qualification procedure of an agent through four scenarios – bulk load; containerised load; surface burning; and aerosol can explosion. Empirical sources from Airbus, independent computational fluid dynamics studies and small-scale cup-burner tests indicate suitability of nitrogen specific to aircraft cargo fire suppression. The nitrogen delivery system and the experimental apparatus are presented. Extensive commissioning tests verified instrumentation reliability. All the four scenarios were conducted at Cranfield University, in a replica of a wide-body aircraft cargo compartment. In a reduced oxygen environment (11%) obtained with nitrogen discharge, the aerosol can explosion tests were performed without any evidence of explosion or pressure increase beyond the expected baseline value. The surface burning scenario was completed successfully and passed the Minimum Performance Standard criteria. The maximum average temperature was found to be 220°C (limit – 293°C). All the scenarios passed the Minimum Performance Standard criteria for indicating successful prevention of Class B fire re-ignition. Similarly, the containerised and bulk-load scenarios obtained results that passed the Minimum Performance Standard criteria for successfully maintaining continued fire suppression for a specified period of time. The maximum average temperature in containerised-load fire scenario was found to be 210°C (limit – 343°C) and in bulk-load scenario was 255°C (limit – 377°C). Additional qualification criteria and system design are presented in this article according to the Minimum Performance Standard format. This work can be extended to introduce standard testing for safety critical systems, such as engine bay and lithium-ion fires.

Strength and stiffness of 3-ply industrial bamboo matting

There is a pressing need to develop engineering standards for timber- and other wood-based mats suitable for supporting construction vehicles, etc. In 2018, a group of mat producers and users began discussing a potential grading standard specific to mats. There are large gaps in the literature regarding the performance of the available raw materials as well as bolt-laminated mat systems. This study addresses the issue of determining the strength and stiffness values of a commercially sourced industrial bamboo mat. A total of seven 8 ft × 14 ft (2.44 m × 4.27 m) commercial bamboo mats were cut into 28 billets that were 21.5 in (54.6 cm) in width. The bamboo mat billets were evaluated for bending stiffness (modulus of elasticity [MOE]) and strength (modulus of rupture [MOR]) using a three-point static bending test. The 5th percentile non-parametric tolerance limit (5% NTL) and design value for fiber stress in bending (Fb) were calculated. The mechanical property values measured for the 3-ply bamboo mat were at least 25% less than values reported for mixed hardwood timber mats. This type of structural performance information is helpful and useful in the development of matting standards, as it describes the minimum performance characteristics for this type of composite matting.

Phoebe

Easy-to-use programming interfaces paired with cloud-scale processing engines have enabled big data system users to author arbitrarily complex analytical jobs over massive volumes of data. However, as the complexity and scale of analytical jobs increase, they encounter a number of unforeseen problems, hotspots with large intermediate data on temporary storage, longer job recovery time after failures, and worse query optimizer estimates being examples of issues that we are facing at Microsoft. To address these issues, we propose Phoebe, an efficient learning-based checkpoint optimizer. Given a set of constraints and an objective function at compile-time, Phoebe is able to determine the decomposition of job plans, and the optimal set of checkpoints to preserve their outputs to durable global storage. Phoebe consists of three machine learning predictors and one optimization module. For each stage of a job, Phoebe makes accurate predictions for: (1) the execution time, (2) the output size, and (3) the start/end time taking into account the inter-stage dependencies. Using these predictions, we formulate checkpoint optimization as an integer programming problem and propose a scalable heuristic algorithm that meets the latency requirement of the production environment. We demonstrate the effectiveness of Phoebe in production workloads, and show that we can free the temporary storage on hotspots by more than 70% and restart failed jobs 68% faster on average with minimum performance impact. Phoebe also illustrates that adding multiple sets of checkpoints is not cost-efficient, which dramatically reduces the complexity of the optimization.

Research of the Photo-Optical Method Application for Measuring Selected Data on the Movement of a Parachute for Type M-282

Testing in the field of parachute technology provides space for the application of new and innovative methods of measuring operating and functional parameters. The main aim of the paper is to present the results of research for the verification of the photo-optical method of measuring the vertical speed of the M-282 parachutes, and for its use in testing, collecting, and investigating motion data in parachuting. As part of this measuring technology, twelve jumps were performed. It was verified that the experiment was completed for the M-282 parachute according to the regulation of SAE AS 8015B “Minimum Performance Standard Parachute Assemblies and Components”. An analysis of the influencing factors and quantification of their influence on the uncertainty of the measurement results was also performed. The results of the measurement achieved by using the photo-optical method were compared with the measurement with the electronic variometer FLYTEC 4030. The vertical speed of the M-282 parachute (4.655 m·s−1) defined by the photo-optical method is significantly similar to the vertical speed of the M-282 parachute (4.662 m·s−1) defined by FLYTEC 4030. We can state that the process of identifying the vertical speed of the parachute by the photo-optical method was correct. This is a suitable method of evaluating motion data in the operation of M-282 type parachutes. In the following research for generalization of the methodology, we assume the performance of more than 60 experimental jumps using different types of parachutes, digital sensors (cameras), and a photo-optical method to examine motion data and formulate recommendations for testing, investigative applications, individualized training programs, and aspects of parachuting injury prevention.

COVID-19 antibody detection and assay performance using red cell agglutination

Red cells can be labelled with peptides from the SARS-CoV-2 spike protein and used for serologic screening of SARS-CoV-2 antibodies. We evaluated 140 convalescent COVID-19 patients and 275 healthy controls using this C19-kodecyte assay. The analytical performance of the new assay was compared with a virus neutralizing assay and 2 commercial chemiluminescent antibody tests (Total assay and IgG assay, Ortho). The C19-kodecyte assay detected SARS-CoV-2 antibodies with a sensitivity of 92.8% and specificity of 96.3%, well within the minimum performance range required by FDA for EUA authorization of serologic tests. The Cohen's kappa coefficient was 0.90 indicating an almost perfect agreement with the Total assay. The Pearson correlation coefficient was 0.20 with the neutralizing assay (0.49 with IgG, and 0.41 with Total assays). The limited correlation in assay reaction strengths suggested that the assays may detect different antibody specificities. Our easily scalable C19-kodecyte assay may vastly improve test capacity in blood typing laboratories using their routine setups for column agglutination technique.

Report of a Pilot Program Using a Milk-Free Ready-to-Use Therapeutic Food Made From Soya, Maize, and Sorghum to Treat Severe Acute Malnutrition

Background: Globally, ready-to-use therapeutic food (RUTF) with peanut and milk as the primary source of protein is used to treat children having severe acute malnutrition (SAM). Valid Nutrition in collaboration with Ajinomoto Co., Inc has developed a nonmilk RUTF from soybean, maize, and sorghum (SMS-RUTF) and demonstrated its efficacy. Objective: To pilot SMS-RUTF in treatment of SAM within Community-Based Management of Acute Malnutrition (CMAM) program in Malawi, Africa. Methods and Findings: This was implemented from January to July 2018 and its performance was based on the SPHERE criteria and Ministry of Health CMAM guidelines. A total of 742 children were treated with SMS-RUTF. Of these, 94.5% (95% CI: 92.6-96.0) were successfully discharged to supplementary feeding program (SFP) with middle upper arm circumference (MUAC) ≥115 mm or directly to their homes with MUAC ≥125 mm; 3.6% (95% CI: 2.4-5.3) defaulted, 1.9 % (95% CI: 1.0-2.1) died, and 0.0% nonresponders. Analysis of 222 children who were discharged home with MUAC ≥125 mm gave a recovery rate of 88.3% (95% CI: 88.3-92.2), a defaulter rate of 6.8 % (95% CI: 3.8-10.9), a mortality rate of 1.3% (95% CI: 0.3-3.9), and a nonresponders rate of 1.8% (95% CI: 0.5-4.5). These outcomes exceed SPHERE minimum performance standards. The mean (standard deviation) length of stay of children discharged to SFP and discharged directly home were 42.0 (20.9) and 46.1 (21.1) days, respectively. These outcomes are within the recommended average duration of <60 days. Conclusion: The pilot CMAM program using SMS-RUTF recipe that contains no milk or peanuts achieved SPHERE minimum standards. Based on this evidence, SMS-RUTF should be encouraged for treatment of SAM in children between 6 and 59 months in routine CMAM programs in Malawi and globally.