137 research outputs found

    BAYESIAN MODELLING OF ULTRA HIGH-FREQUENCY FINANCIAL DATA

    Get PDF
    The availability of ultra high-frequency (UHF) data on transactions has revolutionised data processing and statistical modelling techniques in finance. The unique characteristics of such data, e.g. discrete structure of price change, unequally spaced time intervals and multiple transactions have introduced new theoretical and computational challenges. In this study, we develop a Bayesian framework for modelling integer-valued variables to capture the fundamental properties of price change. We propose the application of the zero inflated Poisson difference (ZPD) distribution for modelling UHF data and assess the effect of covariates on the behaviour of price change. For this purpose, we present two modelling schemes; the first one is based on the analysis of the data after the market closes for the day and is referred to as off-line data processing. In this case, the Bayesian interpretation and analysis are undertaken using Markov chain Monte Carlo methods. The second modelling scheme introduces the dynamic ZPD model which is implemented through Sequential Monte Carlo methods (also known as particle filters). This procedure enables us to update our inference from data as new transactions take place and is known as online data processing. We apply our models to a set of FTSE100 index changes. Based on the probability integral transform, modified for the case of integer-valued random variables, we show that our models are capable of explaining well the observed distribution of price change. We then apply the deviance information criterion and introduce its sequential version for the purpose of model comparison for off-line and online modelling, respectively. Moreover, in order to add more flexibility to the tails of the ZPD distribution, we introduce the zero inflated generalised Poisson difference distribution and outline its possible application for modelling UHF data

    Assessing the physiological effects of an exercise intervention in older adults: Is there a role for core-stability training?

    Get PDF
    Preliminary evidence indicates that age-related changes in trunk muscle morphology and function are associated with decreased balance and increased falls risk. However, the associations between trunk muscle morphology, strength, and functional ability, as well as the trainability of these muscles are not well established. Therefore, the aims of this thesis were to identify the relationships between trunk muscle morphology, strength, and functional ability and to determine the effects of exercise training on these outcomes in healthy older adults. We initially undertook a systematic review to determine the effect of exercise training on trunk muscle morphology. Our results identified motor control and machine-based exercises targeting the trunk muscles resulted in the largest change in the trunk muscle morphology. Using a cross-sectional design, we then explored the relationships between trunk muscle morphology, strength, and functional ability in 64 older adults. Our results showed anterior and lateral abdominal and posterior trunk muscle size and strength were positively associated with functional ability. Finally, we conducted a randomised clinical trial investigating the effectiveness of a 12-week exercise programme on trunk muscle size, strength, and functional ability. Sixty-four individuals (mean(SD) age 69.8 (7.5) years; 59.4% female) were randomised to receive a multimodal exercise program comprising walking and balance exercises with or without strength/motor control training of the trunk muscles. Participants performing the trunk strengthening exercises experienced larger increases (mean difference [95%CI]) in trunk muscle hypertrophy (1.6 [1.0, 2.2] cm) and composite trunk strength (172.6 [100.8, 244.5] N), as well as 30-Second Chair Stand Test (5.9 [3.3, 8.4] repetitions), Sitting and Rising Test (1.2 [0.22, 2.2] points), Forward Reach Test (4.2 [1.8, 6.6] cm), Backward Reach Test (2.4 [0.22, 4.5] cm), and Timed Up and Go Test (-0.74 [-1.4, -0.03] seconds) outcomes. These findings further our understanding regarding 1) the relationships between trunk muscle morphology, strength, and functional ability and 2) appropriate exercise prescription aimed at improving these outcomes in older individuals

    The interaction between diabetes, body mass index, hepatic steatosis, and risk of liver resection: insulin dependent diabetes is the greatest risk for major complications

    Get PDF
    Background. This study aimed to assess the relationship between diabetes, obesity, and hepatic steatosis in patients undergoing liver resection and to determine if these factors are independent predictors of major complications. Materials and Methods. Analysis of a prospectively maintained database of patients undergoing liver resection between 2005 and 2012 was undertaken. Background liver was assessed for steatosis and classified as <33% and ≥33%. Major complications were defined as Grade III–V complications using theindo-Clavien classification. Results. 504 patients underwent liver resection, of whom 56 had diabetes and 61 had steatosis ≥33%. Median BMI was 26kg/m2 (16–54kg/m 2). 94 patients developed a major complication (18.7%). BMI ≥ 25kg/m2

    Modelling large-scale structures in the high-latitude ionosphere using 15 years of data from the EISCAT Svalbard Radar

    Get PDF
    The ionosphere is a highly complex plasma containing electron density structures with a wide range of spatial scale sizes. Large-scale structures with horizontal extents of tens to hundreds of km exhibit variation with time of day, season, solar cycle, geomagnetic activity, solar wind conditions, and location. Whilst the processes driving these large-scale structures are well understood, the relative importance of these driving processes is a fundamental, unanswered question. The large-scale structures can also cause smaller-scale irregularities that arise due to instability processes such as the gradient drift instability (GDI) and turbulence. These smaller scale structures can disrupt trans-ionospheric radio signals, including those used by Global Navigation Satellite Systems (GNSS). Statistical modelling techniques have been used to generate models of various measures of large-scale plasma structuring in the high-latitude ionosphere using 15 years of data gathered by the EISCAT Svalbard Radar. These models quantify the relative importance of the dominant driving processes in four time sectors (noon, dusk, midnight and dawn). In every sector the dominant process is the seasonal variation, and this difference is attributed to both the variation in the chemical composition of the atmosphere and the maintenance of the background ionosphere by photoionization in summer. Secondary processes vary with time sector, but include variations with the solar cycle, geomagnetic activity, and the strength, orientation and variation of the Interplanetary Magnetic Field. Geophysical variables are used as proxies for these physical processes. As data for the geophysical variables selected are available in real time, these models have the potential to make real time predictions of the amount of plasma structuring in the ionosphere for GNSS applications

    Systematic evaluation of radiological findings in the assessment of resectability of peri-ampullary cancer by CT using different contrast phase protocols

    Get PDF
    Aims: To determine the relative significance of radiological signs in determining the resectability of peri-ampullary cancer (PC) and to assess the value of multi-phase imaging in detecting these findings. Materials and Methods: Blinded, double re-reporting of pre-operative imaging from five hospitals was undertaken of 411 patients undergoing surgery for PC over an eight year period, of whom 119 patients were found to be inoperable at the time of surgery. Results: The median tumour size was 26.7 mm and the proportion of patients reported to have regional lymphadenopathy (RL), venous (VI) and arterial involvement (AI) was 24.7%, 11.5% and 3.9% respectively and was similar regardless of the number of contrast phases undertaken. Significant associations were however noted between individual risk factors: VI was closely associated with tumour size (p=0.002) and AI (p< 0.0001). In multi-variable analysis AI, VI and RL were independently associated with resectability (relative risk of resection =0.05, 0.31 and 0.51 respectively). Tumour size however was not associated with resectability when VI was included in the multivariate model

    Remote sensing of impervious surface growth: A framework for quantifying urban expansion and re-densification mechanisms

    Get PDF
    A substantial body of literature has accumulated on the topic of using remotely sensed data to map impervious surfaces which are widely recognized as an important indicator of urbanization. However, the remote sensing of impervious surface growth has not been successfully addressed. This study proposes a new framework for deriving and summarizing urban expansion and re-densification using time series of impervious surface fractions (ISFs) derived from remotely sensed imagery. This approach integrates multiple endmember spectral mixture analysis (MESMA), analysis of regression residuals, spatial statistics (Getis_Ord) and urban growth theories; hence, the framework is abbreviated as MRGU. The performance of MRGU was compared with commonly used change detection techniques in order to evaluate the effectiveness of the approach. The results suggested that the ISF regression residuals were optimal for detecting impervious surface changes while Getis_Ord was effective for mapping hot spot regions i n the regression residuals image. Moreover, the MRGU outputs agreed with the mechanisms proposed in several existing urban growth theories, but importantly the outputs enable the refinement of such models by explicitly accounting for the spatial distribution of both expansion and re - densification mechanisms. Based on Landsat data, the MRGU is somewhat restricted in its ability to measure re-densification in the urban core but this may be improved through the use of higher spatial resolution satellite imagery. The paper ends with an assessment of the present gaps in remote sensing of impervious surface growth and suggests some solutions. The application of impervious surface fractions in urban change detection is a stimulating new research idea which is driving future research with new models and algorithms

    The effect of the inclusion of trunk-strengthening exercises to a multimodal exercise program on physical activity levels and psychological functioning in older adults: Secondary data analysis of a randomized controlled trial

    Get PDF
    Background Engaging in multimodal exercise program helps mitigate age-related decrements by improving muscle size, muscle strength, balance, and physical function. The addition of trunk-strengthening within the exercise program has been shown to significantly improve physical functioning outcomes. Whether these improvements result in improved psychological outcomes associated with increased physical activity levels requires further investigation. We sought to explore whether the inclusion of trunk-strengthening exercises to a multimodal exercise program improves objectively measured physical activity levels and self-reported psychological functioning in older adults. Method We conducted a secondary analysis within a single-blinded parallel-group randomized controlled trial. Sixty-four healthy older (≥ 60 years) adults were randomly allocated to a 12-week walking and balance exercise program with (n = 32) or without (n = 32) inclusion of trunk strengthening exercises. Each program involved 12 weeks of exercise training, followed by a 6-week walking-only program (identified as detraining). Primary outcome measures for this secondary analysis were physical activity (accelerometry), perceived fear-of-falling, and symptoms of anxiety and depression. Results Following the 12-week exercise program, no significant between-group differences were observed for physical activity, sedentary behaviour, fear-of-falling, or symptoms of anxiety or depression. Significant within-group improvements (adjusted mean difference [95%CI]; percentage) were observed in moderate-intensity physical activity (6.29 [1.58, 11.00] min/day; + 26.3%) and total number of steps per min/day (0.81 [0.29 to 1.33] numbers or + 16.3%) in trunk-strengthening exercise group by week 12. With respect to within-group changes, participants in the walking-balance exercise group increased their moderate-to-vigorous physical activity (MVPA) (4.81 [0.06 to 9.56] min/day; + 23.5%) and reported reduction in symptoms of depression (-0.26 [-0.49 to -0.04] points or -49%) after 12 weeks of the exercise program. The exercise-induced increases in physical activity levels in the trunk-strengthening exercise group were abolished 6-weeks post-program completion. While improvements in physical activity levels were sustained in the walking-balance exercise group after detraining phase (walking only). Conclusions The inclusion of trunk strengthening to a walking-balance exercise program did not lead to statistically significant between-group improvements in physical activity levels or psychological outcomes in this cohort following completion of the 12-week exercise program
    corecore