We study several approximations for the LIBOR market models presented in 1, 2, 5]. Special attention is payed to log-normal approximations and their simulation by using direct simulation methods for log-normal random elds. In contrast to the conventional numerical solution of SDE's this approach simulates the solution directly at the desired point and is therefore much more eecient. We carry ou...

In this paper, the normal and extreme wind conditions for power at 12 coastal locations along China's coastline were investigated. For this purpose, the daily meteorological data measured at the standard 10-m height above ground for periods of 40-62 years are statistically analyzed. The East Asian Monsoon that affects almost China's entire coastal region is considered as the leading factor dete...

Fiber lengths were analyzed for random samples of medium-density fiberboard (MDF) fibers and wood particles taken from eleven different populations. For six of the samples, the lognormal distribution fit the data, while the Weibull distribution did not. For three of the samples, the Weibull fit the data, while the lognormal did not. For two of the samples, both the lognormal and Weibull fit the...

The fallacy that a many-period expected-utility maximizer should maximize (a) the expected logarithm of portfolio outcomes or (b) the expected average compound return of his portfolio is now understood to rest upon a fallacious use of the LawofLargc Nurtrbcrs. This paper exposes a more subtle fallacy based upon a fallacious use of the Cenfral-Limit Throrcnr. While the properly normalized produc...

In many biological and social systems, where the ideal of heritance and aberrance exist at the same time, normal distribution failed in describing the distributions of variables. In stead, many real data as well as simulations indicate that log-normal distribution and power-law distribution can characterize many properties of this kind of systems. In this paper, the failure of normal distributi...

Abstract— In this paper, we propose the introduction of space diversity techniques to the code acquisition of an indoor packet radio communication system with directsequence spread-spectrum technique. In the proposed scheme, the base station has several radio ports each with a cluster of antennas, and the mobile station also has multiple antennas. As the result, we show great performance improv...

The normal curve has been used to fit the rate of both world and US oil production. In this article we give the first theoretical basis for these curve fittings. It is well known that oil field sizes can be modeled by independent samples from a lognormal distribution. We show that when field sizes are lognormally distributed, the starting time of the production of a field is approximately a lin...

The properties and applications of the normal log-normal (NLN) mixture are considered. The moment of the NLN mixture is shown to be finite for any positive order. The expectations of exponential functions of a NLN mixture variable are also investigated. The kurtosis and skewness of the NLN mixture are explicitly shown to be determined by the variance of the log-normal and the correlation betwee...

The mutual fund industry manages about a quarter of the assets in the U.S. stock market and thus plays an important role in the U.S. economy. The question of how much control is concentrated in the hands of the largest players is best quantitatively discussed in terms of the tail behavior of the mutual fund size distribution. We study the distribution empirically and show that the tail is much ...

Patterns in the commonness and rarity of species are a fundamental characteristic of ecological assemblages; however, testing between alternative models for such patterns remains an important challenge. Conventional approaches to fitting or testing species abundance models often assume that species, not individuals, are the units that are sampled and that species' abundances are independent of ...