Financial Literacy: What Are Business Schools Teaching?

The financial illiteracy of Americans has attracted the attention and funds of more than 10 federal agencies and countless other state agencies and non-profit organizations. The manifestations of poor financial skills and planning are divorce, depression, and many elderly Americans living in poverty. Hundreds of business and non-business college students have been surveyed. Both groups were found to be financially illiterate. We examined the curricula of 100 AACSB institutions and concluded that business schools are either not offering fundamental courses in personal financial planning or that the courses are not generally available to business students (for credit) or non-business students. It is ironic that college students are graduating with the required 60 credits in the liberal arts, but are not required to pass a course in personal finance. We feel strongly that it is time for business faculty, specifically finance faculty, to argue that being financially literate is as important as being literate in English and the sciences

Conditional tests for elliptical symmetry using robust estimators

This paper presents a procedure for testing the hypothesis that the underlying distribution of the data is elliptical when using robust location and scatter estimators instead of the sample mean and covariance matrix. Under mild assumptions that include elliptical distributions without first moments, we derive the test statistic asymptotic behaviour under the null hypothesis and under special alternatives. Numerical experiments allow to compare the behaviour of the tests based on the sample mean and covariance matrix with that based on robust estimators, under various elliptical distributions and different alternatives. This comparison was done looking not only at the observed level and power but we rather use the size-corrected relative exact power which provides a tool to assess the test statistic skill to detect alternatives. We also provide a numerical comparison with other competing tests.Comment: In press in Communications in Statistics: Theory and Methods, 201

ATLAS RPC offline monitoring and data quality assessment

In this work several aspects of ATLAS RPC offline monitoring and data quality assessment are illustrated with cosmics data selected by RPC trigger. These correspond to trigger selection, front-end mapping, detection efficiency and occupancy, which are studied in terms of low level quantities such as: RPC off-line hits and standalone tracks. The tools and techniques presented are also extended to the forthcoming LHC p-p beam collisions.Comment: Poster section at ICHEP08, Philadelphia, USA, July 2008. 3 pages, LaTeX, 3 eps figure

GRB970228 and the class of GRBs with an initial spikelike emission: do they follow the Amati relation?

On the basis of the recent understanding of GRB050315 and GRB060218, we return to GRB970228, the first Gamma-Ray Burst (GRB) with detected afterglow. We proposed it as the prototype for a new class of GRBs with "an occasional softer extended emission lasting tenths of seconds after an initial spikelike emission". Detailed theoretical computation of the GRB970228 light curves in selected energy bands for the prompt emission are presented and compared with observational BeppoSAX data. From our analysis we conclude that GRB970228 and likely the ones of the above mentioned new class of GRBs are "canonical GRBs" have only one peculiarity: they exploded in a galactic environment, possibly the halo, with a very low value of CBM density. Here we investigate how GRB970228 unveils another peculiarity of this class of GRBs: they do not fulfill the "Amati relation". We provide a theoretical explanation within the fireshell model for the apparent absence of such correlation for the GRBs belonging to this new class.Comment: 5 pages, 3 figures, in the Proceedings of the "4th Italian-Sino Workshop on Relativistic Astrophysics", held in Pescara, Italy, July 20-28, 2007, C.L. Bianco, S.-S. Xue, Editor

The Amati relation in the "fireshell" model

(Shortened) CONTEXT: [...] AIMS: Motivated by the relation proposed by Amati and collaborators, we look within the ``fireshell'' model for a relation between the peak energy E_p of the \nu F_\nu total time-integrated spectrum of the afterglow and the total energy of the afterglow E_{aft}, which in our model encompasses and extends the prompt emission. METODS: [...] Within the fireshell model [...] We can then build two sets of ``gedanken'' GRBs varying the total energy of the electron-positron plasma E^{e^\pm}_{tot} and keeping the same baryon loading B of GRB050315. The first set assumes for the effective CBM density the one obtained in the fit of GRB050315. The second set assumes instead a constant CBM density equal to the average value of the GRB050315 prompt phase. RESULTS: For the first set of ``gedanken'' GRBs we find a relation E_p\propto (E_{aft})^a, with a = 0.45 \pm 0.01, whose slope strictly agrees with the Amati one. Such a relation, in the limit B \to 10^{-2}, coincides with the Amati one. Instead, in the second set of ``gedanken'' GRBs no correlation is found. CONCLUSIONS: Our analysis excludes the Proper-GRB (P-GRB) from the prompt emission, extends all the way to the latest afterglow phases and is independent on the assumed cosmological model, since all ``gedanken'' GRBs are at the same redshift. The Amati relation, on the other hand, includes also the P-GRB, focuses on the prompt emission only, and is therefore influenced by the instrumental threshold which fixes the end of the prompt emission, and depends on the assumed cosmology. This may well explain the intrinsic scatter observed in the Amati relation.Comment: 4 pages, 5 figures, to appear on A&A Letter

Can the U.S. Get There from Here?

Climate change impacts in the United States are increasingly evident and come with steep economic and social costs. The frequency and intensity of extreme weather events has increased in recent years, bringing record-breaking heat, heavy precipitation, coastal flooding, severe droughts, and damaging wildfires.According to the National Oceanic and Atmospheric Administration (NOAA), weather-related damages in the United States were $60 billion in 2011, and are expected to be significantly greater in 2012.The mounting costs convey an unmistakable urgency to address climate change by reducing greenhouse gas emissions (GHGs). This report examines pathways for GHG reductions in the United States through actions taken at the federal and state levels without the need for new legislation from the U.S. Congress