Management Sciences and Quantitative Methods Commons^™

Credibility Calculations Using Analysis Of Variance Computer Routines, Dennis H. Tolley, Michael D. Nielsen, Robert Bachler

Journal of Actuarial Practice (1993–2006)

In this paper we present a method of calculating Buhlmann-Straub credibility factors using standard statistical techniques developed for the analysis of variance. Emphasis is placed on using readily available statistical packages such as SAS and SPSS. Additionally many other computational tools such as EXCEL can be programmed to make such calculations. An example and some sample SAS programs are provided.

Reinforce For Performance: The Need To Go Beyond Pay And Even Rewards, Fred Luthans, Alexander D. Stajkovic

Department of Management: Faculty Publications

Perhaps the most talked about, if not actually implemented. practical solution for making human resources more productive is pay for performance. Yet many researchers and practitioners doubt the true effectiveness of this approach. To help solve this controversy. we suggest drawing from reinforcement theory and behavioral management. This approach can be used to explain the simple statements: You get what you reinforce. but you do not necessarily get what you pay for. We first critically review the traditional pay for performance practices and address the question of whether rewards. not reinforcers. do more harm than good. Next, we discuss the …

Road Rescue Implements A Continuous Process Improvement Framework, John Olson, Paul Savory

Department of Industrial and Management Systems Engineering: Faculty Publications

Continuous improvement programs traditionally focus on making small incremental improvements to a system. Unfortunately, their success can be limited due to the rapid changing environment within which most small companies operate. Improvement efforts should be flexible enough to capitalize on incremental and radical changes to a system. This paper presents a case analysis of how Road Rescue, an ambulance manufacturer, uses a continuous improvement framework to capitalize on both radical and incremental improvement opportunities. Results include a 10% increase in throughput, reduced cycle time of 44%, increased customer satisfaction, and higher quality.

Measuring The Degree Of International Harmony In Selected Accounting Measurement Practices, Emmanuel N. Emenyonu, Ajay Adhikari

WCBT Faculty Publications

The I-index developed by Van der Tas and chi square tests suggested by Tay and Parker are used to quantify and assess the degree of harmony in selected accounting measurement practices of large companies from France, Germany, Japan, the UK, and the US. The results indicate significant differences in accounting for inventory, fixed assets, and investments among the countries. The 3 sub-topics that exhibited a high degree of harmony were the treatment of gains or losses on the disposal of fixed assets, short-term investments and long-term investments, a reflection of the preference of regulators and companies in the different countries …

Dynamics Of Dry Friction: A Numerical Investigation, Yun Fong Lim, Kan Chen

Research Collection Lee Kong Chian School Of Business

We perform extended numerical simulation of the dynamics of dry friction, based on a model derived from the phenomenological description proposed by Baumberger et al. [Nature (London) 367, 544 (1994)] and Heslot et al. [Phys. Rev. E 49, 4973 (1994)]. Under a quasistationary approximation, the model is related to the Dieterich-Ruina aging (or slowness) law, which was introduced by Dieterich [Pure Appl. Geophys. 116, 790 (1978); J. Geophys. Res. 84, 2161 (1979); in Mechanical Behavior of Crustal Rocks, edited by N. L. Carter et al., Geophysics Monograph No. 24 (AGU, Washington, DC, 1981), p. 103] and Ruina [J. Geophys. Res. …

Fisheries Management Report No. 2 - Use Of Market Mechanisms For The Allocation Of Commercial Fishing Access Entitlements In Western Australia, Economics Consulting Services Pty Ltd

Fisheries Published Reports

This publication has been prepared as a discussion paper on the potential use of market-based mechanisms for allocating commercial fishing entitlements in Western Australia. The aim has been to explore alternative mechanisms for allocating entitlements and the circumstances under which various methods might be more effective.

Fisheries Management Report No. 4 - Planning For The Further Development Of The Aquaculture And Marine Farming Industry At Jurien Bay, Dave Everall

Fisheries Published Reports

There is a well documented global requirement for some twenty million tonnes of edible sea foods from aquaculture in the next fifteen years. Most of the projected increase in production will need to be from mariculture because of limiting factors on land based aquaculture. At present, approximately 85%of all aquaculture occurs in the Asian region.

Globally, temperate water species have market advantages because of their ability to supply a growing market preference for a firm white fleshed fin fish. Although significant temperate water aquaculture occurs in various countries north of the equator, there are growing environmental concerns surrounding production of …

Evaluation Of Airport Operating Efficiencies Using Data Envelopment Analysis, Scott Andrew Cummings

Engineering Management & Systems Engineering Theses & Dissertations

Airport congestion represents a serious obstacle to the future growth of the air transportation industry in the United States. Future development of new airports, and expansion of existing ones is required to meet the growing demands in domestic and commercial air travel. Globalization of economies and international travel has placed additional burdens on airports nationwide. This growth is requiring airports to operate at peak efficiencies. Economic growth of surrounding industries is dependent on the airport that services that geographical region. The variations in functions that airports offer, and therefore the differences in operations, do not lend themselves to traditional efficiency …

A Coordination Theory Approach To Process Description And Redesign, Kevin Crowston, Charles S. Osborn

School of Information Studies - Faculty Scholarship

Managers must understand, influence, and redesign organizational processes to improve business performance. In this paper we present a technique for documenting a business process. The technique has six steps: defining process boundaries, collecting data, determining actors and resources, determining activities, determining dependencies and model verification. While similar to other process mapping techniques, our approach is novel in incorporating ideas from coordination theory, thus the attention to dependencies. As a result, the technique is useful both for documenting a process and suggesting ways in which the process could be redesigned. We present an extended illustration with the hope that the technique …

Using Parametric Statistical Models To Estimate Mortality Structure: The Case Of Taiwan, Shih-Chieh Chang

Journal of Actuarial Practice (1993–2006)

A mixture parametric model is used to analyze the changing pattern of Taiwanese mortality from 1926 to 1991. Three different age ranges are modeled as mixtures of extreme value distributions, namely the Weibull, inverse Weibull, and Gompertz distributions. The results show a significant improvement of mortality over the years.

Outlier Analysis Of Annual Retail Price Inflation: A Cross-Country Study, Wai-Sum Chan

Journal of Actuarial Practice (1993–2006)

Wilkie's stochastic investment model and its variants have been increasingly applied by actuaries around the world to actuarial modeling and simulation. This paper performs time series outlier analysis on retail price inflation, which is the driving force of Wilkie's composite model. The data come from four developed countries: the United Kingdom, the United States, Canada, and Australia. The fit of the model is significantly improved after the adjustment of outliers. The analysis also identifies exogenous events that have intervened in the inflation dynamics. An example is given to demonstrate the importance of outlier analysis on stochastic simulation. Finally, inflation trends …

Stability Of Representative Crediting Rate Scenarios Under Monte Carlo Simulations, Sarah L.M. Christiansen, Kelley Buchacker

Journal of Actuarial Practice (1993–2006)

We develop a methodology to ensure that a Monte Carlo simulation of the distribution of the primary rates, used for determining an interest crediting rate, is stable regardless of the initial random number seed. We consider the implications of the use of antithetic random normal deviates upon the scenario process and modifications to the candidate list and the choice function within the representative process. It is shown that the use of antithetic random deviates alone does not have a statistically significant effect on our results. The other two modifications (candidate selection algorithm and choice function) are statistically significant. Furthermore, the …

An Analysis Of Australian Pensioner Mortality By Pre-Retirement Income, David Knox, Andrew Tomlin

Journal of Actuarial Practice (1993–2006)

The existence of a relationship between an individual's socioeconomic status and his or her mortality is often accepted, but it is difficult to measure this relationship objectively. This study analyses the relationship between an individual's final salary immediately prior to retirement and mortality rates during retirement. The data used are taken from a large Australian public sector pension plan. A strong inverse relationship is found, which decreases with age. Some of the implications of these results for individual annuity markets and public pension policy are discussed.

Journal Of Actuarial Practice, Volume 6, Nos. 1 And 2, 1998, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Principles and Application of Credibility • Vincent Goulet

Actuarial Techniques in Risk Pricing and Cash Flow Analysis for U.K. Bank Loans • Philip Booth and Duncan E.P. Walsh

Stability of Representative Crediting Rate Scenarios Under Monte Carlo Simulations • Sarah L.M. Christiansen and Kelley Buchacker

Outlier Analysis of Annual Retail Price Inflation: A Cross-Country Study • Wai-Sum Cha

An Analysis of Australian Pensioner Mortality by Pre-Retirement Income • David Knox and Andrew Tomlin

Using Parametric Statistical Models to Estimate Mortality Structure: The Case of Taiwan • Shih-Chieh Chang

A Frailty Model for Projection of Human Mortality Improvements • Shaun …

Where All The Children Are Above Average: A Meta Analysis Of The Performance Appraisal Purpose Affect, J. Jawahar, Chuck R. Williams

Scholarship and Professional Work - Business

More than 40 years ago, Taylor and Wherry (1951) hypothesized that performance appraisal ratings obtained for administrative purposes, such as pay raises or promotions, would be more lenient than ratings obtained for research, feedback, or employee development purposes. However, research on appraisal purpose has yielded inconsistent results, with roughly half of such studies supporting this hypothesis and the other half refuting it. To account for those differences, a meta-analysis of performance appraisal purpose research was conducted with 22 studies and a total sample size of 57,775. Our results support Taylor and Wherry's hypothesis as performance evaluations obtained for administrative purposes …

Western Australian Fisheries - Key Achievements 1997-1998, Fisheries Western Australia

Fisheries Published Reports

The WA fishing community can look back at the past year with considerable satisfaction.

Close partnership arrangements between Government, industry, the community and Fisheries Western Australia have both consolidated and advanced the State's position at the forefront of sustainable management of marine environments and fish resources.

Together, commercial fishing and recreational fishing make 􀁚 annual $1.5 billion contribution to the Western Australian economy. Through a carefully balanced portfolio of policies and initiatives the Coalition is making sure that both sectors continue to prosper, while at the same time ensuring that future generations inherit a marine environment which we are all …

Focus On The Future Agriculture Western Australia's Strategic Directions 1998 - 2008, Agriculture Western Australia

Reports

Strong growth in global demand combined with productivity gains, product innovation and sustainability improvements throughout the 1990s enable Western Australia agriculture to look to the 21st century with confidence.

This optimistic outlook is largely the result of innovation across the agricultural industries based on research, development and extension - activities in which Agriculture Western Australia continues to be the State's leading provider.

Focus on the Future is ambitious, and sends a unequivocal message about our strategic directions and the rationale guiding the agency in allocating resources to those areas which offer the biggest benefits to the Western Australian agriculture, food …

Managing For Flexibility: A Manufacturing Perspective, Ravi Kathuria

Business Faculty Articles and Research

This paper investigates managerial practices that are conducive to the management of flexibility. Using data from manufacturing plants in the United States, this paper identifies managerial practices that manufacturing managers strongly demonstrate in plants that place a high emphasis on flexibility. The results indicate that managers who pursue flexibility, emphatically engage in team building, employee empowerment, and other relationship oriented practices that generate enthusiasm among employees. These practices seemingly motivate workers to deal with the uncertainty and changes, in the form of product mix, customer delivery schedule, capacity adjustments, etc., that characterize manufacturing flexibility. Furthermore, workers are entrusted with the …

Principles And Application Of Credibility Theory, Vincent Goulet

Journal of Actuarial Practice (1993–2006)

We review the history of the practical development of credibility theory. Emphasis is placed on the two main approaches to credibility theory: limited fluctuation credibility and greatest accuracy credibility. We explain when each approach should and should not be used. The presentation of greatest accuracy credibility theory starts with a review of (exact) Bayesian credibility and then moves to the Buhlmann-Straub model. Estimators of the structure parameters are discussed. Examples are presented to illustrate the concepts. Finally, the hierarchical credibility and crossed classification credibility models are presented.

Actuarial Techniques In Risk Pricing And Cash Flow Analysis For U.K. Bank Loans, Philip Booth, Duncan E.P. Walsh

Journal of Actuarial Practice (1993–2006)

A cash flow model is developed to set the price for a loan to a borrower with known risks. Similarities are noted between this model and those used for profit testing in life insurance. We emphasize aspects that reasonably can be treated in several ways and also indicate where the cash flow model differs from the pricing methods usually employed in bank lending. The sensitivity of interest rates to various parameters of the model such as the length of loan and the expected default rate is examined. Also, we examine how features of loans, including cash back and early repayments, …

A Frailty Model For Projection Of Human Mortality Improvements, Shaun S. Wang, Robert L. Brown

Journal of Actuarial Practice (1993–2006)

Based on the everyday observations that individual human beings vary significantly in their capacity to combat death, we adopt a so-called frailty model of human mortality. This frailty model assumes that each individual in a given population is endowed with his or her own frailty index, r, which remains constant for life. In addition, we assume that the individual's force of mortality (hazard rate function) at age x, Ux(r), satisfies Ux(r) = rUx where Ux is the population's base force of mortality at age x. Given the probability distribution of the frailty index among the newborns in the population, an …

Northern Agriculture Integrated Management Strategy - Sub-Region Strategies And Action Plans, Agriculture Western Australia

Natural resources published reports

Greenough Sub-region

Moore River Sub-region

West Midlands Sub-region

Yarra Yarra Sub-region

The strategies and action plans contained in this document have been developed by members of the community, local industry and government agencies, representing the four sub-regions of the Northern Agricultural Region. Sub-regional strategy development has occurred due to community and agency recognition of the importance of protecting, enhancing and developing the region's valuable natural resource base.

Work began on this process with a two-day regional workshop in October 1996 and following this, numerous sub-regional meetings were held over a period of one year.

The summary of this planning work …

Putting Land Resource Information Into Perspective. Interpreting Land Resource And Capability Information To Assess The Impacts And Management Needs Of Different Land Uses And To Assist Strategic Planning, Land Assessment Pty Ltd, Agriculture Western Australia

Natural resources published reports

These notes were prepared by Martin Wells from Land Assessment Pty Ltd in June 1997 to assist in the delivery of this training course. The objective of the course is to provide land use planning practitioners with a working understanding of soil-landscape mapping and land capability assessment activities, and of their practical applications in land use planning.

Who Is This Course For?

Land use planners

* not only professional planners

* but all involved in making decisions on how land is used

* involves many government or semi-government bodies

* and also immediate land use decision makers, farmers and their …

Combining Multi-Attribute Utility And Geographic Information For Boundary Decisions: An Application To Park Planning, Jeffrey Keisler, Ronald Sundell

Management Science and Information Systems Faculty Publication Series

The quality and value of an area depend primarily on what is found within its designated boundaries. To determine the value of such areas in terms of boundaries, we have developed a methodology for integrating multi-attribute utility functions with spatial analysis so that desirable, or appropriate, boundaries can be determined on the basis of the goals and objectives for the park. The key to successful evaluation is the development of measures for what decision makers value, rather than merely using what is easily measured. In a detailed example for planning of national parks, the fundamental objectives are conservation and societal …

An Investigation Of Environmental Paradigms And Organizational Classifications, Marvin T. Ee

Theses and Dissertations

The extent of environmental management in organizations is largely determined by what paradigms are espoused with respect to maintaining both natural resources and raw materials. Environmental management paradigms possibly stem from whether an organization is private or public, producing a product or providing a service. However, no established methods exist for comparing organizations with regard to environmental management approaches and perspectives. The purpose of this thesis is to determine whether particular organizational classifications are linked to specific environmental management paradigms. This study incorporates several environmental management concepts to develop an analytical instrument for observing organizations. Environmental management paradigms provide a …

Fisheries Management Report No. 1 - The Impact Of Occupational Safety And Health On The Management Of Western Australian Fisheries, Cameron Wilson

Fisheries Published Reports

This report has been produced at the request of Fisheries Western Australia ("Fisheries Department") as a result of a fixed term consultancy by Pacific Management Systems Pty Ltd ("Pacific").

In essence, the Terms of Reference require consideration of the interaction and possible conflict between the principal piece of legislation governing safety and health of employees in Western Australian workplaces, the Occupational Safety and Health Act 1984 ('OSH Act'), and the Fish Resources Management Act 1994 ('FRM Act') being the principal source of legislation in respect of the management of Western Australia's fish resources.

Concerns with regard to the possible conflict …

Are Salaries In The National Hockey League Related To Nationality?, William (Bill) H. Williams, David A. Williams

Publications and Research

No abstract provided.

Minimizing Post-Production Weight Growth In Tanks Using A Decision Analysis Model, Michael F. Cochrane

Engineering Management & Systems Engineering Theses & Dissertations

Post-production weight growth of tanks is an historic problem for the military. Tanks are difficult to transport because of their weight, and post-production modifications tend to cause this weight to increase over the lifecycle of the tank. In this thesis, a computer model is constructed which uses influence diagrams to model tank weight growth as a probabilistic process. Historical weight data for the MI Abrams tank program is used to derive probabilities for the model. The model is used to predict tank weight growth over both the short and long term with the goal of understanding more about how and …

A Cost-Benefit Analysis Of Earned Value Management System Criteria, John R. Cole Jr., Judson M. Fussell

Theses and Dissertations

In December 1996, the Cost/Schedule Control Systems Criteria (C/SCSC) was officially replaced by the Earned Value Management Systems (EVMS) criteria. The switch to EVMS, coupled with current acquisition reform changes, have left many wondering what the effects of these changes will be. This thesis defines the costs and benefits of the old C/SCSC, and then compares them. Additionally, this thesis discusses the changes accompanying the switch to EVMS and the effect on the costs and benefits. The marginal costs of C/SCSC are defined as the difference between the costs of a C/SCSC compliant system and a contractors normal management control …

Registration Of Apprenticeship Programs And The Turnover Of Skilled Trade Employees, Dennis J. Bona

Dissertations

The primary purpose of the study is to provide empirical evidence that refutes arguments made by employers who resist registering an apprenticeship program because they believe it will increase turnover of their skilled trade employees. To do this, data were collected to test the hypothesis that companies that have a registered apprenticeship program experience less turnover of their skilled trade employees compared to companies that do not. Secondary hypotheses were also developed to compare turnover ratios with union orientation, size, and wage structure of employers to help validate the results and demonstrate alternative explanations for turnover of skilled trade employees. …