...WTI-Brent Spread An Analysis of Factors That Influence Oil Price Differentials Yiming Huang Dongming Li Hanzheng Li Shihui Qian Fordham University Financial Econometrics I December 17, 2015 WTI-BRENT SPREAD 2 Contents Abstract ......................................................................................................................................................... 3 1 Introduction ........................................................................................................................................... 3 2 Factors ................................................................................................................................................... 4 2.1 Dependent Variable ....................................................................................................................... 4 2.2 Independent Variable .................................................................................................................... 5 2.2.1 Financial market variables ........................................................................................ 5 2.2.2 Economic Variables .................................................................................................. 7 2.2.3 Underlying Assets Variables..................................................................................... 7 2.2.4 Weather Variable .....................................................
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...The differential was first invented in China, in the third century,A.D. After turning a car the outside wheel has to turn faster then the inside one in order to cover the greater distance. That is why two wheels are not driven at a same speed. So we need a differential gear. A car differential is a place halfway between the wheels, on either the front or both axes. Main mechanisms: Wheels receive power from the motor via drive shaft. The power receiving wheels which makes the vehicle move fowrord are called as the drive wheels. Wheels receive power from the motor via drive shaft. The main function of the differential gear is to allow the drive wheels to turn at different Rpm while from the engine. The main characterics of differential is to, * To aim the engine power at wheels. * To transmit the power to the wheels while allowing them to rotate at differential speeds. the left wheel has to travel more distance compared to the right wheel. If the wheels where connected using a soil shaft. The wheels where connected using a soil shaft. The wheels would have to slip to accomplish the turn. The mechanism in a differential allows left and right wheels to turn at different Rpm, while transferring power to both the wheels. Differential parts: There are three types of gear available, Pinion drive gear: Transfers power from the drive shaft to the ring gear. Ring gear: Transfers power to the differential case assembly Side/Spider gears: Helps both wheels to turn...
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...could lead the subject to fall. This is avoided by the subject’s CoP constantly trying to push the CoM back within the BoS, which resulted in a greater radius compared to when the subject was standing on two feet. Condition four had a much greater radius than the previous condition, and this is expected as not only did BoS diminish, but the visual receptors were not able to provide efficient feedback to the brain regarding orientation. In condition five, the CoP radius is seen to be greater compared to the first condition again which is expected as the BoS was reduced along with the visual and somatosensory receptors in the legs. As mentioned before, spindles are stretch receptors located in the muscles which provides information on the body’s...
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...linear programming model and economic quantity models (Nic, 2013). For example, decision-making problems can be deterministic or probabilistic decision models. As deterministic models, decisions to bring good final outcomes. A deterministic model is “you get what you expect” risk-free model, which determines the outcome. It also depends on the influence of the uncontrollable the factors that determine the outcome of a decision and the information the decision-maker input as a predicting factor (Arsham, 1996). According to Schrodt (2004), deterministic models was widely used in the early 18th century to study physical processes to develop differential equations by many mathematicians. These differential equation allow values of a variable as function of its value at any point in time and as a common form of the deterministic concept. The differential equations apply to a variety of astronomical and mechanical phenomena and have produced crucial scientific literature (Schrodt, 2004). The model is important in astronomical and mechanical phenomena because of the finite equations...
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...Differential Equations by tarungehlots Concepts of Differential Equation Consider a variable that might denote the per capita capital stock level in an economy. When convenient, we can recognize that the level of capital depends upon time by addition the time argument. Doing so, we would write the per capita capital stock level as , rather than just writing . If we think of time as unfolding continuously, we can also think of capital as being a continuous function of time, and we can assume that the function has derivate . This derivative is the instantaneous change in per capita capital. In many presentations, is written as , but we will here use the more familiar notation . By writing the derivate as , so that we include the time argument, we are emphasizing that the value of the derivative may change with time. Because it is typically cumbersome to repeatedly write down the argument, we can also write the derivative as just , while remembering that its value may change with time. A differential equation is an equation that relates the time derivative of a variable to its level. An example is the equation (1) . The variable is called a state variable because it gives the state of the system at any given point in time. In our example, gives the state or level of per capita capital stock. 2. A Dynamic System The basic dynamic principle is the idea that “the way things are determines the way...
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...arXiv:math.DG/0207039 v1 3 Jul 2002 Exterior Differential Systems and Euler-Lagrange Partial Differential Equations Robert Bryant Phillip Griffiths July 3, 2002 Daniel Grossman ii Contents Preface Introduction 1 Lagrangians and Poincar´-Cartan Forms e 1.1 Lagrangians and Contact Geometry . . . . . . . . . 1.2 The Euler-Lagrange System . . . . . . . . . . . . . . 1.2.1 Variation of a Legendre Submanifold . . . . . 1.2.2 Calculation of the Euler-Lagrange System . . 1.2.3 The Inverse Problem . . . . . . . . . . . . . . 1.3 Noether’s Theorem . . . . . . . . . . . . . . . . . . . 1.4 Hypersurfaces in Euclidean Space . . . . . . . . . . . 1.4.1 The Contact Manifold over En+1 . . . . . . . 1.4.2 Euclidean-invariant Euler-Lagrange Systems . 1.4.3 Conservation Laws for Minimal Hypersurfaces 2 The 2.1 2.2 2.3 2.4 2.5 Geometry of Poincar´-Cartan Forms e The Equivalence Problem for n = 2 . . . . . . . Neo-Classical Poincar´-Cartan Forms . . . . . . e Digression on Affine Geometry of Hypersurfaces The Equivalence Problem for n ≥ 3 . . . . . . . The Prescribed Mean Curvature System . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v vii 1 1 7 7 8 10 14 21 21 24 27 37...
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...Lab 0: MATLAB and ODE Solvers | ME 4173 Robot Kinematics | | | | Introduction The following report will display the results and conclusions of an experiment to simulate the output of an inverse pendulum system in MATLAB. The objectives of this experiment were to review MATLAB programming and using MATLAB to simulate ODEs and systems. Objectives * Examine the basics of MATLAB * Use MATLAB to simulate a system * Use ODE solvers to numerically integrate the system over a set time period Apparatus The apparatus used in this experiment was MATLAB. It was used to provide a simulation environment to analyze the inverse pendulum’s motion. Experiments and Results There were six components of this experiment. This experiment was mostly familiarizing with MATLAB. All code used is illustrated in the Appendix – Code. The first part consisted of learning commands within the MATLAB environment. It was a brief overview of how commands work in MATLAB. There was no code used in the part of the experiment. The second part of the experiment examined how arrays were created and used in MATLAB. The first step was to create a matrix. This matrix was then subjected to various commands including eye( ), zeroes( ), and ones( ). Indexing was also used to access various parts of the matrix. Matrix operations such as transpose, inverse, size and length were also shown. Part three of the experiment explained how a script was created and what it was...
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...expressing physical, chemical and engineering laws and general equations should be illustrated by practical numerical examples in order to transfer the surface/atomistic approach to learning to the deep/holistic one. Necessary steps in the manipulation of algebraic equations should be highlighted. Formal lecturers should be supplemented by compulsory reading, handouts, elements of small group teaching and formative assessment. The analysis of self-assessment forms completed by students show that they learn physical concepts much easier than mathematical concepts. forget what we are told but never forget what we see or discover for ourselves!' It was clear that I made at least two mistakes in designing my course. Firstly, the theory was indeed not properly balanced with practical applications. Secondly, the need for the theoretical part was not well explained at the beginning of the course. I had to put things right in order to complete the course successfully. There are obvious `natural' limits to the depth of the mathematical analysis. If we don't set these limits we can, in theory, end up studying topology (the foundations of mathematics) ad infinitum. Our brain may be working very hard, but its...
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...Syllabus Cambridge International A Level Further Mathematics Syllabus code 9231 For examination in June and November 2013 Contents Cambridge A Level Further Mathematics Syllabus code 9231 1. Introduction ..................................................................................... 2 1.1 1.2 1.3 1.4 Why choose Cambridge? Why choose Cambridge International A Level Further Mathematics? Cambridge Advanced International Certificate of Education (AICE) How can I find out more? 2. Assessment at a glance .................................................................. 5 3. Syllabus aims and objectives ........................................................... 7 4. Curriculum content .......................................................................... 8 4.1 Paper 1 4.2 Paper 2 5. Mathematical notation................................................................... 17 6. Resource list .................................................................................. 22 7 Additional information.................................................................... 26 . 7 .1 7 .2 7 .3 7 .4 7 .5 7 .6 Guided learning hours Recommended prior learning Progression Component codes Grading and reporting Resources Cambridge A Level Further Mathematics 9231. Examination in June and November 2013. © UCLES 2010 1. Introduction 1.1 Why choose Cambridge? University of Cambridge International Examinations (CIE) is the world’s largest provider of international...
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...response styles based on national and cross-cultural differences and their impact on the interpretation of the research findings is of a significant concern for international marketing researchers (Diamantopoulos et al., 2006; Dolnicar & Grün, 2007; Rocereto et al., 2012). Whether the response styles remain stable across altering stimulus formats and whether ignoring the influence of different response styles would make research findings reliable or not was tested in Diamantopoulos et al.´s (2006) study. The Rocereto at al. (2012) investigated the impact of different stimuli on the degree of extreme response style (ERS) or “the respondents´ tendency to use the extreme categories on rating scales” (Harzin et al. 2011, p.3), by using semantic differential and Likert- type scales. Dolnicar & Grün (2007) on the other hand, extended the investigation by analyzing full response patterns instead only extreme values. The purpose of this paper is to highlight the new insights the above mentioned papers delivered, to find out on which points the authors agreed/disagreed and to emphasize the meaning of results for the future work. Introduction and Findings The major issue of international researches, according to Diamantopoulos et al. (2006), is that international researchers cannot rely on the stability of the response styles across alternative forms of scale types, data collection methods etc. Researchers should be aware of the consequences that routinely adapted stimulus formats have on...
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...Area is a quantity that expresses the extent of a two-dimensional surface or shape, or planar lamina, in the plane. Area can be understood as the amount of material with a given thickness that would be necessary to fashion a model of the shape, or the amount of paint necessary to cover the surface with a single coat.[1] It is the two-dimensional analog of the length of a curve (a one-dimensional concept) or the volume of a solid (a three-dimensional concept). The area of a shape can be measured by comparing the shape to squares of a fixed size.[2] In the International System of Units (SI), the standard unit of area is the square metre (written as m2), which is the area of a square whose sides are one metre long.[3] A shape with an area of three square metres would have the same area as three such squares. In mathematics, the unit square is defined to have area one, and the area of any other shape or surface is a dimensionless real number. There are several well-known formulas for the areas of simple shapes such as triangles, rectangles, and circles. Using these formulas, the area of any polygon can be found by dividing the polygon into triangles.[4] For shapes with curved boundary, calculus is usually required to compute the area. Indeed, the problem of determining the area of plane figures was a major motivation for the historical development of calculus.[5] For a solid shape such as a sphere, cone, or cylinder, the area of its boundary surface is called the surface...
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...Marketing Research Marketing Research is imperative to Disney Pixar’s success. Marketing research is the process in which managers perform to gather information effectively to introduce their products and services to their target market. Although the amount of time required for this research depends on the size of the target market and the company's line of business, there is a defined process used to implement the company's products or services. This process includes 1) assessing information needs, 2) developing needed information through internal databases, 3) implementation of marketing research, 4) organization of ideas, and 5) distributing and using information. Therefore, marketing research is important to developing a marketing strategy because it assesses what steps a company needs to take to reach their target market. Therefore, marketing research is important to developing a marketing strategy because it assesses what steps a company needs to take to reach their target market. The Internet has helped with collecting marketing data through online focus groups, Internet surveys, and experiments. The marketing research process also involves collecting and secondary data. Secondary data involves re-checking internal and external secretarial and marketing procedures, such as sales invoices, warranty cards, and published material. Therefore, an efficient means for data collection will assist this process. As defined within Marketing Research, "scaling is the process of creating...
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...Customer satisfaction, a term frequently used in marketing, is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." It is seen as a key performance indicator within business and is often part of a Balanced Scorecard. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy. Within organizations, customer satisfaction ratings can have powerful effects. They focus employees on the importance of fulfilling customers’ expectations. Furthermore, when these ratings dip, they warn of problems that can affect sales and profitability. These metrics quantify an important dynamic. When a brand has loyal customers, it gains positive word-of-mouth marketing, which is both free and highly effective. Therefore, it is essential for businesses to effectively manage customer satisfaction. To be able do this, firms need reliable and representative measures of satisfaction. In researching satisfaction, firms generally ask customers whether their product or service has met or exceeded expectations. Thus, expectations are a key factor behind satisfaction. When customers have high expectations and the reality falls...
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...Electric Circuits and Fields: Network graph, KCL, KVL, node and mesh analysis, transient response of dc and ac networks; sinusoidal steady-state analysis, resonance, basic filter concepts; ideal current and voltage sources. The venin's, Norton's and Superposition and Maximum Power Transfer theorems, two-port networks, three phase circuits; Gauss Theorem, electric field and potential due to point, line, plane and spherical charge distributions; Ampere's and Biot-Savart's laws; inductance; dielectrics; capacitance. Signals and Systems: Representation of continuous and discrete-time signals; shifting and scaling operations; linear, time-invariant and causal systems. Fourier series representation of continuous periodic signals; sampling theorem; Fourier, Laplace and Z transforms. Electrical Machines: Single phase transformer - equivalent circuit, phasor diagram, tests, regulation and efficiency; three phase transformers - connections, parallel operation; auto-transformer; energy conversion principles. DC machines - types, windings, generator characteristics, armature reaction and commutation, starting and speed control of motors; three phase induction motors - principles, types, performance characteristics, starting and speed control; single phase induction motors; synchronous machines - performance, regulation and parallel operation of generators, motor starting, characteristics and applications; servo and stepper motors. Power Systems: Basic power generation concepts;...
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...Code: BTC 101 Credit Units: 04 Course Objective: The knowledge of Mathematics is necessary for a better understanding of almost all the Engineering and Science subjects. Here our intention is to make the students acquainted with the concept of basic topics from Mathematics, which they need to pursue their Engineering degree in different disciplines. Course Contents: Module I: Differential Calculus Successive differentiation, Leibnitz’s theorem (without proof), Mean value theorem, Taylor’s theorem (proof), Remainder terms, Asymptote & Curvature, Partial derivatives, Chain rule, Differentiation of Implicit functions, Exact differentials, Tangents and Normals, Maxima, Approximations, Differentiation under integral sign, Jacobians and transformations of coordinates. Module II: Integral Calculus Fundamental theorems, Reduction formulae, Properties of definite integrals, Applications to length, area, volume, surface of revolution, improper integrals, Multiple Integrals-Double integrals, Applications to areas, volumes. Module III: Ordinary Differential Equations Formation of ODEs, Definition of order, degree & solutions, ODE of first order : Method of separation of variables, homogeneous and non homogeneous equations, Exactness & integrating factors, Linear equations & Bernoulli equations, General linear ODE of nth order, Solution of homogeneous equations, Operator method, Method of undetermined coefficients, Solution of simple simultaneous ODE. ...
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