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This paper aims to present several Bayesian specification tests for both in- and out-of-sample situations.
The authors focus on the Bayesian equivalents of the frequentist approach for testing heteroskedasticity, autocorrelation and functional form specification. For out-of-sample diagnostics, the authors consider several tests to evaluate the predictive ability of the model.
The authors demonstrate the performance of these tests using an application on the relationship between price and occupancy rate from the hotel industry. For purposes of comparison, the authors also provide evidence from traditional frequentist tests.
There certainly exist other issues and diagnostic tests that are not covered in this paper. The issues that are addressed, however, are critically important and can be applied to most modeling situations.
With the increased use of the Bayesian approach in various modeling contexts, this paper serves as an important guide for diagnostic testing in Bayesian analysis. Diagnostic analysis is essential and should always accompany the estimation of regression models.
This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized…
This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative information technology open architecture design and integrating Radio Frequency Identification Device data technologies and real-time optimization and control mechanisms as the critical technology components of the solution. The innovative information technology, which pursues the focused logistics, will be deployed in 36 months at the estimated cost of $568 million in constant dollars. We estimate that the Systems, Applications, Products (SAP)-based enterprise integration solution that the Army currently pursues will cost another $1.5 billion through the year 2014; however, it is unlikely to deliver the intended technical capabilities.
This study aimed to investigate whether a diagnostic testing condition leads to stereotype threat effects for African American and Latina/o children (N = 81) when tested…
This study aimed to investigate whether a diagnostic testing condition leads to stereotype threat effects for African American and Latina/o children (N = 81) when tested together at an urban elementary school in Miami, Florida.
To analyze the effect of stereotype threat on participants’ reading test performance, a 2 (race/ethnicity) × 2 (test condition) ANOVA was conducted.
Results indicated that presenting a reading test as diagnostic of abilities hindered the performance of African American children but not of Latina/o children.
A relationship to Latina/o racial identity is explored as well as suggestions for developing interventions capable of attenuating stereotype threat effects for African American children.
In past research, Latina/o children have been demonstrated to be negatively affected by stereotype threat when tested alone or in the presence of a White comparison group (McKown and Weinstein, 2003; Nader and Clark, 2011). However, the Latina/o participants in this study, tested with an African American comparison group, were unaffected by stereotype threat trending toward experiencing stereotype lift. The present findings posit questioning as to whether Latina/o racial identity moderates stereotype threat effects and how it plays out in elementary schools.
Looks at the opinions and attitudes of advertisers and agencies with regard to pre‐testing and pre‐test methods in a small market like Belgium. Evaluates the criteria of…
Looks at the opinions and attitudes of advertisers and agencies with regard to pre‐testing and pre‐test methods in a small market like Belgium. Evaluates the criteria of the study into four components: motivation and/or behaviour; attitude and attitude change; visual impact and recall; and information transfer. Reveals that the importance attached to the criteria increases in the same order. Concludes that the respondents are relatively favourable to message ratings, but have a negative attitude to forced exposure ratings.
Presents an inductive machine learning algorithm, CLILP2 that learns multiple covers for a concept from positive and negative examples. Although inductive learning is an…
Presents an inductive machine learning algorithm, CLILP2 that learns multiple covers for a concept from positive and negative examples. Although inductive learning is an error‐prone process, multiple meaning interpretation of the examples is utilized by CLILP2 to compensate for the narrowness of induction. The algorithm is tested on data sets representing three different domains. The complexity of the algorithm is analysed and the results are compared with those obtained by others. Employs measures of specificity, sensitivity, and predictive accuracy not usually used in presenting machine learning results, and shows that they evaluate better the “correctness” of the learned concepts. Published in two parts: I – The CLILP2 algorithm; II – Experimental results and conclusions.
The purpose of this paper is to test the applicability and the performance of an approach called logical analysis of data (LAD) on the detection of faults in rotating…
The purpose of this paper is to test the applicability and the performance of an approach called logical analysis of data (LAD) on the detection of faults in rotating machinery using vibration signals.
LAD is a supervised learning data mining technique that relies on finding patterns in a binary database to generate decision functions. The hypothesis is that a LAD‐based decision model can be used as an effective tool for automatic detection of faults in rolling element bearings. A novel Multiple Integer Linear Programming approach is used to generate patterns for the LAD decision model. Frequency and time‐based features are extracted from rotor bearing vibration signals and are pre‐processed to be suitable for use with LAD.
The results show good classification accuracy with both time and frequency features.
The diagnostic tool implemented in the form of software in a production or operations maintenance environment can be very helpful to maintenance experts as it reveals the patterns that lead to the diagnosis in interpretable terms which facilitates efforts to understand the reasons behind the components' failure.
The proposed modifications to the LAD‐based decision model which is being tested for the first time in the field of fault detection in rotating machinery lead to improved accuracy results in addition to the added value of result interpretability due to this distinctive property of LAD.
An important current trend in health care is the move toward personalized medicine. Personalized medicine includes diagnostic and therapeutic interventions, with risk…
An important current trend in health care is the move toward personalized medicine. Personalized medicine includes diagnostic and therapeutic interventions, with risk defined through genetics. The key paradigm shift brought about by the advent of personalized medicine is the increased use of in vitro genomic diagnostics. These tests offer the potential of being able to predict which patients are likely to respond to a particular drug, or which patients are likely to develop adverse reactions to a drug. The focus of this paper is the use of genomic diagnostics, and how the increasing development and translation into clinical practice of diagnostic – drug combination products will be adopted into health care delivery. The meaning of value and how to measure it is considered from different perspectives. A novel framework for evaluating the value of genomic diagnostics is proposed. Finally, the implications for regulatory approval and policy are discussed using an illustrative case study.
Examines the impact of genetic testing and therapy on health care in light of the development of the system in the USA since the turn of the twentieth century. Genetic…
Examines the impact of genetic testing and therapy on health care in light of the development of the system in the USA since the turn of the twentieth century. Genetic testing and therapy have the potential to create a great advance in health care but also to become a business of multi‐billion dollar proportions. If present trends of investment and long‐range plans mature, health care will be adversely affected in terms of its distribution, access and economy. Developed and sold as commodities in a free‐market economy, genetic advances will economically stress health care and fail to meet the ethical and legal standards demanded by voluntary informed consent and counseling. Without abandonment of the marketplace approach to health care and thorough reform, many will find themselves excluded from the benefits and vulnerable to discrimination.
A crucial phase in planning a new product or a major revision in an entry comes just prior to its introduction into regular business operations. At this time, the…
A crucial phase in planning a new product or a major revision in an entry comes just prior to its introduction into regular business operations. At this time, the management focus is on consolidating the total program for introducing the offering to the marketplace. Marketers must engage in a sequence of important finalizing activities designed to achieve the most promising presentation.