A Block Minorization--Maximization Algorithm for Heteroscedastic Regression

The computation of the maximum likelihood (ML) estimator for heteroscedastic regression models is considered. The traditional Newton algorithms for the problem require matrix multiplications and inversions, which are bottlenecks in modern Big Data contexts. A new Big Data-appropriate minorization--maximization (MM) algorithm is considered for the computation of the ML estimator. The MM algorithm is proved to generate monotonically increasing sequences of likelihood values and to be convergent to a stationary point of the log-likelihood function. A distributed and parallel implementation of the MM algorithm is presented and the MM algorithm is shown to have differing time complexity to the Newton algorithm. Simulation studies demonstrate that the MM algorithm improves upon the computation time of the Newton algorithm in some practical scenarios where the number of observations is large

Financing the Air Transportation Industry

The basic characteristics of the air transportation industry are outlined and it is shown how they affect financing requirements and patterns of production. The choice of financial timing is imperative in order to get the best interest rates available and to insure a fair return to investors. The fact that the industry cannot store its products has a fairly major effect on the amount of equipment to purchase, the amount of capital investment required, and the amount of return required to offset industry depriciation

A study of the kinematics and binary-induced shaping of the planetary nebula HaTr 4

We present the first detailed spatio-kinematical analysis and modelling of the planetary nebula HaTr 4, one of few known to contain a post-common-envelope central star system. Common envelope evolution is believed to play an important role in the shaping of planetary nebulae, but the exact nature of this role is yet to be understood. High spatial- and spectral- resolution spectroscopy of the [OIII]5007 nebular line obtained with VLT-UVES are presented alongside deep narrowband Ha+[NII]6584 imagery obtained using EMMI-NTT, and together the two are used to derive the three-dimensional morphology of HaTr 4. The nebula is found to display an extended ovoid morphology with an enhanced equatorial region consistent with a toroidal waist - a feature believed to be typical amongst planetary nebulae with post-common-envelope central stars. The nebular symmetry axis is found to lie perpendicular to the orbital plane of the central binary, concordant with the idea that the formation and evolution of HaTr 4 has been strongly influenced by its central binary.Comment: 9 pages, 5 figures, accepted for publication in MNRA

Control, conflict and concession: Corporate governance, accounting and accountability at Birmingham Small Arms, 1906-1933

This paper takes as its starting point the relevance of a historical perspective to the study of corporate governance. Corporate governance is concerned with the institutions that influence how business corporations allocate resources and returns, and with the exercise of accountability to investors and other stakeholders. The historical model adopted is that of personal capitalism which is informed by scholars such as Chandler, and in the British context, Quail. Birmingham Small Arms, a quoted and diversified engineering company, was selected for analysis because although it was relatively large and adopted a holding company format, it retained many of the characteristics of a personal capitalist firm. Our longitudinal study of 1906 to 1933 shows that what emerged at BSA was a dominant group of directors who were eventually impelled to concede change by a sustained shareholder critique and an altered legal and business environment

Universal simulation of Hamiltonian dynamics for qudits

What interactions are sufficient to simulate arbitrary quantum dynamics in a composite quantum system? Dodd et al. (quant-ph/0106064) provided a partial solution to this problem in the form of an efficient algorithm to simulate any desired two-body Hamiltonian evolution using any fixed two-body entangling N-qubit Hamiltonian, and local unitaries. We extend this result to the case where the component systems have D dimensions. As a consequence we explain how universal quantum computation can be performed with any fixed two-body entangling N-qudit Hamiltonian, and local unitaries.Comment: 13 pages, an error in the "Pauli-Euclid-Gottesman Lemma" fixed, main results unchange

A Buffer Stocks Model for Stabilizing Price of Staple Food with Considering the Expectation of Non Speculative Wholesaler

This paper is a study of price stabilization in the staple food distribution system. All stakeholders experience market risks due to some possibility causes of price volatility. Many models of price stabilization had been developed by employing several approaches such as floor-ceiling prices, buffer funds, export or import taxes, and subsidies. In the previous researches, the models were expanded to increase the purchasing price for producer and decrease the selling price for consumer. Therefore, the policy can influence the losses for non-speculative wholesaler that is reflected by the descending of selling quantity and ascending of the stocks. The objective of this model is not only to keep the expectation of both producer and consumer, but also to protect non-speculative wholesaler from the undesirable result of the stabilization policy. A nonlinear programming model was addressed to determine the instruments of intervention program. Moreover, the result shows that the wholesaler behavior affects the intervention costs. Index Terms Buffer stocks, Price stabilization, Nonlinear programming, Wholesaler behavior