The Brother Joseph W. Stander Symposium recognizes and celebrates academic excellence in undergraduate and graduate education. This annual event provides an opportunity for students from all disciplines to showcase their intellectual and artistic accomplishments. The Stander Symposium represents the Marianist tradition of education through community and is the principal campus-wide event in which faculty and students actualize our mission to be a "community of learners."
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A Pilot Study of the Effect of an Acute Vestibular Therapy on Postural Stability and Gaze Patterns of Children with Autism Spectrum Disorder
Senia I. Smoot
Children with Autism Spectrum Disorder (ASD) struggle with sensory regulation, resulting in abnormal gaze patterns and decreased postural stability. Sensory integration (SI) therapy is a common therapy used to help children with ASD with these issues, however, there is insufficient quantitative research concerning its effectiveness. A pilot study is currently being conducted to quantify the acute effects of a SI vestibular treatment on postural stability and gaze patterns. Both children diagnosed with ASDs and typically developing children are participating in the study, and test methods include quiet standing posturography and analysis of socially relevant visual fixations recorded by a mobile eye tracking unit. The format of the study is a pretest/posttest and the selected SI therapy was a vestibular swing. This ongoing pilot study is designed to ascertain experimental feasibility, data collection procedures, data trends, and sample size requirements for larger, future studies.
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A Proposed Study of Online Flirting
Jasmine L. Smith
Behaviors exhibited while online differ radically from behaviors exhibited while offline (Suler, 2004). Research suggests that this difference in behaviors results from online disinhibition (OD) while engaging in computer-mediated communication (CMC) (Suler, 2004). One way that OD may influence behaviors is through its impact on disinhibited online flirting. Flirting outside of a dyadic romantic relationship was found to have a detrimental impact on romantic relationships (Kalbfleisch, 1993). Due to this finding and the immense use of internet among college students the first goal of this research is to provide a basis of information on the amount of online flirting, how online flirting occurs, and the impact of online flirting among college-age students. The second goal of this research will be to understand participants' perception of how detrimental the impact of online flirting would be on their romantic relationship compared to offline flirting. Based upon previous research on this topic, our main prediction is that online flirting will be perceived to have a lowered level of detriment to a romantic relationship versus offline flirting due to an informal understanding of disinhibited online behavior that results from personal internet use. This study will also be assessing the impact of public versus private online flirting on a romantic relationship. Based upon previous research, we are predicting that public online flirting, such as flirting through a Facebook wall post, will lead to a lower perception of detriment on a romantic relationship than private flirting, through a private message. Overall, this study will attempt to fill the void in research devoted to online behaviors and help in understanding of the effects of online flirting and how it differs in its impact on romantic relationships compared to offline flirting.
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A Quantitative Approach to Selecting Industry Groups within Sectors for Investment: The Case for Relative Strength and Capture Ratio Analysis
Christine A. Ferry, Rachel J. Kilbury
There are 10 S&P sectors and 212 industry groups within these sectors. The industry groups represent a similar mix of stocks in terms of what they reduce and sale. In this study we use relative strength and capture ratio analysis to determine which industry groups are likely to outperform the market. We use 4 industry groups each from the consumer discretionary and healthcare sectors to test our models. Based on relative strength indexes, the first model evaluates whether the most undervalued industry groups outperform their sectors. In the second model, capture ratios in period t are used to evaluate industry group performance in period t + 1. Since the relative strength indexes and capture ratios are calculated on a monthly basis, we will evaluate both models on a monthly, quarterly, and yearly basis for the period 2008-2012.
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Assessment of Alternatives Effects and Choosing the Optimized Demand Response Capacity of Automatic Lighting System
Seyed Ataollah Raziei
Demand response (DR) programs seek to adjust the normal consumption patterns of electric power consumers in response to incentive payments that are offered by utility companies in order to induce lower consumption at peak hours and when the power system reliability is at risk. Given the fact that lighting systems consume about 20-35% of the total energy used in buildings, addressing this shortcoming is an important research problem. Therefore, we propose to take a systematic optimization-based approach to assess demand response capacity of automatic lighting control systems in commercial and residential buildings. Our model takes into account a variety of important systems parameters, such as the building layout, the location, power consumption, and illumination level of luminaires, information collected from daylight and occupancy sensors, illumination requirements of each spot on the layout based on the type of consumer usage, user comfort that is modeled in form of user-specific utility functions, and finally the on/off as well as dimming control capabilities of the installed luminaires. We show that, under some practical conditions, the formulated optimization problems are convex; therefore, computationally tractable. Using a variety of simulations we will investigate the optimal demand response capacities for various building layouts and different distributions of luminaires. We will also investigate the financial advantages of participating in demand response programs using automatic lighting control for both commercial and residential buildings.
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Automatic Scene Rendering for Unmanned Aerial Systems
Yakov Diskin
We present a 3D reconstruction technique designed to support an autonomously navigated unmanned aerial system (UAS). The algorithm presented focuses on the 3D reconstruction of a scene using images from a single moving camera and can be used to construct a point cloud model of unknown areas. The reconstruction process, resulting in a point cloud model is computed using a feature point matching process and depth triangulation analysis, is a six step process. The first step is feature extraction from each frame of video; a neighborhood-magnitude-direction dependent matching procedure is applied to track feature points through subsequent frames. The distance a feature point travels, in pixels, becomes the feature disparity which can be translated into depth. The Cartesian depth coordinate, in the z direction, is determined using the disparity values, while the x and y coordinates are determined using the focal length information of the camera. The process consists of determining the size of the image at a particular depth and computing the width and height, x and y directions, for each feature point. The final output is a point cloud, a collection of points accurately positioned within a model. With enough points, surfaces and textures can be added to create a realistic model. An autonomous navigation control system utilizes the resulting visually reconstructed scene, centered at the current camera location, to either register its position within a known 3D model, or for obstacle avoidance and area exploration while mapping an unknown environment. The presented reconstruction algorithm forms a foundation for computer vision self-positioning techniques within a known environment without the use of GPS or any other sensor. The suitability of the reconstruction for mapping tasks is to be evaluated using ground-truth measurements of actual objects.
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Beam steering by KTN crystal(Potassium tantalate niobate)
Hongwei Chen
My research is an experimental study of an optical beam steering phenomenon based on EO effect and space-charge-controlled electrical condition. A large deflection angle is expected by applying a relatively low voltage to a 0.5-mm-thick KTN crystal with a short interaction length of 5.0 mm. In theory, the electrical condition is carrired by electrons injected from the Ohmic contact of the electrodes. The injected electrons induce the space-charge effect and the electrical field becomes uniform while the electrical field has a square root dependence on the distance from the cathode. So, a linearly graded refracted index is induced and the optical beam is cumulatively deflected as it propagates in the crystal.
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Beta 2 Tubulin Amino Acids Required for Spermtail Axoneme Function
George H. Neubauer
Evolutionary changes in organism traits are primarily caused by random genetic mutations in their amino acid codons that end up altering the proteins produced. The main question of researchers is how changes occur that will give a protein a new function without detrimentally affecting the original function of the protein in the organism. Beta 2 tubulin in Drosophila is an ideal model to study this question because it has a very sensitive structure/function relationship. Drosophila contains two main types of tubulin: Beta 1 which is found in the majority of cells and testes specific Beta 2. These proteins differ in only a few amino acids, however Beta 1 is unable to support the function of Beta 2. The proposed continues study of what allows Beta 2 to make a spermtail when Beta 1 cannot. I will investigate a synergistic interaction between amino acids 29, 55, and 57 of the testes specific Beta 2 tubulin protein in Drosophila by exchanging Beta 1 codons with Beta 2 identity at these sites to generate a chimeric Beta 1-Beta 2 tubulin (TGARC). The ability of TGARC to support spermtail axoneme function will be determined through fertility studies, protein expression analysis, sperm tail length comparisons, and axoneme cross sectional comparisons using TEM.
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Bidirectional Beam Propagation Method for Second-Harmonic Generation in Engineered Multilayer Photonic Bandgap Structures
Han Li
The transfer matrix method (TMM) has been used to analyze plane wave and beam propagation through linear photonic bandgap structures. Here, we apply TMM to determine the exact spatial behavior of TE and TM waves in periodic refractive index nonlinear structures of arbitrary thickness. First, we extend the TMM approach to analyze plane wave propagation through Kerr type nonlinear media. Secondly, In the second order nonlinearity case, the proposed TMM takes into consideration reflections and the interferences between the forward and backward-propagating waves but the nonlinear process is assumed to be weak so that the pump wave is unaffected by the nonlinear process thus the undepleted approximation. Finally in the second order nonlinearity case, the TMM is applied to study beam propagation in such media by applying the TMM to its angular spectrum components.
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Brain Machine Interface Using Electroencephalograph Data as Control Signals for a Robotic Arm
Kelly Cashion, Carly A. Gross
Brain machine interface (BMI) also known as brain computer interface (BCI) is a field of research that has been explored in varying degrees throughout the last few decades. Initial research used invasive technology in order to read the signals from the human brain. These systems required surgery in order to connect the subjects to the sensors. Recent trends have moved toward non-invasive systems that make use of non-invasive physiological sensors such as electroencephalographs (EEG). EEG systems use a number of electrodes to read electrical signals on the scalp caused by brain activity. The patterns generated by certain thoughts can be classified and recognized by a BMI system using machine learning algorithms. These classified patterns can then be encoded as commands to prompt a certain response from a computer or machine. The completed system allows for control of the connected device using thought as the only input. The possible uses for a BMI system are as varied as the designs of computer programs and computer controlled devices. One of the most noteworthy applications of BMIs is in the field of medicine. BMIs offer the tools for the disabled to interact with the world, even if they are suffering from severe nerve damage between their brain and original limbs. In the case of a lost or paralyzed limb, BMIs offer the potential for patients to use a robotic limb, controlled with their natural thought patterns, to interact with the world. BMIs also offer potential modes of communication for patients who have no other way to convey their thoughts. With these applications in mind, this research focuses on control of a robotic arm using a 14-electrode EEG headset. Both pure EEG signals and electromyography (EMG) signals are encoded as controls for six possible actions performed by the robotic arm.
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Bridging the Gap: Identity Crises and Self-Authorship of Veterans in Higher Education
Todd K. Schilling
Public and private institutions have seen one of the greatest influxes of veterans using their veteran benefits since World War II (DiRamio & Jarvis, 2011). Veterans enter higher education with a diverse, individualistic background and experience, and encounter a number of issues that traditional students do not experience. The purpose of this study was to explore the various ways that veterans' transition into higher education, as well as their ability to make meaning of their military experience. The research questions guiding this study were: (a) what are the identity crises and transitions that veterans experience when enrolling in college; (b) how do veterans make meaning of their military experience and use it in their new role as a student? The participants in this study consisted of veterans of the United States Military currently attending college. In one hour semi-structured interviews, participants shared their military background as well as their experiences in higher education. Participants also reflected on their military experiences and how they led them to their current role as students. Findings suggested that veterans experience college differently than the traditional student and feel that, due to their military experience, they have a different understanding and appreciation for higher education. Higher education professionals working with veterans may benefit from the study results because it provides a first-hand insight into personal experiences of veterans. They will be able to understand the difficulty of their transition and explore new practices to better serve this unique category of students.
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Building and Supporting Faculty & Student-Athlete Relationships
Jenifer L. Gerard
Previous research has demonstrated the benefits to part-time faculty when strong partnerships are fostered within the campus community. Additionally, past studies have highlighted the effects of positive relationships between faculty and student-athletes. This presentation provides new faculty (particularly adjunct and part-time) with a better understanding of the diversity within the student-athlete population at the University of Dayton, as well as the role that The Office of Academic Services for Student-Athletes (OASSA) takes in assisting students during their transition into intercollegiate athletics and the college experience, while ensuring that all student-athletes work toward successful completion of a baccalaureate degree, meeting requirements set by NCAA and other governing bodies. Through a review of relevant literature, the presenter identifies ways to build productive relationships between adjunct and part-time faculty and the community of approximately 400 student-athletes who represent the University of Dayton in 17 Division I sports while pursuing studies across a wide variety of majors. This presentation will also propose an agenda for a future open house hosted by OASSA which will allow faculty, OASSA staff, and student-athletes to meet in order to build and strengthen partnerships in learning.
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Characteristics of Emotion for Paintings and Classical Music
Adam Barnas
While listening to music, people emit a variety of responses which can be physiological, cognitive, and physical in nature. The likelihood of eliciting these responses, however, depends largely on the type of emotion that the music is conveying. Therefore, music excerpts need to be categorized by the emotion they convey in order to accurately study how humans respond to music. Furthermore, theories of aesthetics, which concern the study of beauty and art, have emphasized the role of art in evoking, shaping, and modifying human feelings. Recently, researchers are becoming more interested in emotions and art, and a standardized set of emotional stimuli (e.g., paintings) will be beneficial in providing appropriate stimuli for future studies of art and emotions. The present research was aimed at categorizing classical musical and paintings based on characteristics of emotion, such as valence (whether the emotion is positive or negative), arousal (high or low intensity), and dominance (whether the emotion is controlling or dominating), as well as familiarity. Well-detailed and informative databases will be created for use in future experimental investigations of emotion, music, art, aesthetics, and attention. At the present time, there exist such databases for emotional photographs, sounds, and words, but not for paintings or classical music. Participants rated 39 excerpts of classical music and 60 paintings using the Self Assessment Manikin (Bradley & Lang, 1994), a 9-point, non-verbal pictorial ("figure") rating system that directly assesses affective reaction to emotional stimuli. Mean ratings of the characteristics of emotions were calculated for each painting and musical excerpt and will be used to select stimuli for use in future studies. The existence of collections of standardized stimuli that have been rated for emotion allow better management in the selection of stimuli and encourage more exact replications across research labs.
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Characterization of Emissions from the Combustion of a Selected Surrogate for Aviation Fuels
Giacomo Flora
In this study, emissions from a surrogate of aviation fuel components have been characterized. The proposed surrogate includes n-dodecane and m-xylene with 75% and 25% by liquid volume, respectively. The combustion was investigated behind reflected shock waves to obtain ignition delay times and quantify yields of a range of stable combustion products including volatile gases, aldehydes, PAHs (polycyclic aromatic hydrocarbons) and soot. The experimental conditions covered a temperature range of ~980-1500 K, at pressures of 18 atm, at an equivalence ratio of 3, using argon as the diluent (93 % vol). In all experiments, dwell times were kept in the range of 7.55-7.85 ms by using a suitable argon-helium mixture as the driver gas. The collected gas samples from shock tube experiments were analyzed using GC-TCD for light gases and GC-MS was used for aldehydes, volatiles and semi-volatiles. The mass of the collected particulate matter (PM) was determined via the temperature programmed oxidation (TPO) / carbon burn-off method. The present work provides comprehensive emissions characterization data for the validation of combustion kinetic models, and valuable comparisons for selecting future alternate jet fuels based on their emissions
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Child and Family Influences on Parent's Utilization of Children's Mental Health Services
Emily M. Wilhelm
Approximately 20% of children in the United States develop some kind of behavioral or psychological problem that requires treatment, but the majority of these children do not receive mental health services. This study examines the relationships between various child and family characteristics and the likelihood that a parent will seek professional mental health services for their child. Previous studies have found that many factors, including family income, child gender, and parent education level are associated parents' utilization of children's mental health service. However, these studies have not tested whether these factors are associated with service utilization over-and-above the influence of symptom severity. The purpose of the study is to identify factors beyond symptom severity that are associated with a parent's decision to seek services for their child. The factors being investigated are child age, gender, family income, family stress, parental separation, and severity and type of problem exhibited by the child. The study utilizes previously collected longitudinal data from a community study of child development. Findings from this research will improve understanding of influences on utilization of mental health programs or interventions for children.
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City of Dayton Economic Development Incentive Programs: Costs and Benefits
Stephen L. MacKell
The City of Dayton Economic Development Office currently employs two unique incentive programs to attract businesses to grow and locate within the city limits. These programs cost the taxpayers significant amounts of money while also providing profits to our local economy in the form of a bolstered tax base for the city government. The goal of the thesis is to compare the two programs using two different cost benefit economic analysis methods and provide a recommendation for increased efficiency to the city based upon the results of the analysis.
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Cognitive Appraisals in a Deception Task
Steven A. Bare
Cognitive appraisals of threat and challenge, identified and characterized by Blascovich and Mendes (2000), involve whether an individual feels as though he or she is able to overcome a task requiring significant effort. This can be understood as an elaboration of the fight-or-flight response, and as such, can be indicated by physiological responses. This experiment applies this cognitive appraisal paradigm to a deception task, in an attempt to improve on the polygraph test.
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Competing Responsibly: Are Businesses Appropriately Balancing the Motive of Profit with the Social Responsibility of Upholding Human Rights?
Elizabeth A. Mitchell
Corporations are in constant competition with one another in order to expand revenue and survive in this modern economy, however, this often has a very negative impact on the rights of the individual and the rights of the worker. Those at the top are too quickly willing to exploit those at the bottom in order to drive competition and profits. This leads to both an increase in human rights abuses and a loss of corporate social responsibility. Corporate social responsibility is the duty of corporations to respect the individual, workers, families, and communities in their business practices. I examine how corporations are addressing social responsibility and how they have or have not progressed within the last dozen years in regards to their business practices. I also examine how the international community has reacted to bad business practices and what effects these reactions have on corporate responsibility.
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Decisions, Decisions, Decisions: How Undecided, Second Year Students in the College of Arts and Sciences Engage in the Decision Making Process of Choosing a Major
Angela Lucas
Choosing an academic major is one of the first significant decisions college students make. The purpose of this study was to determine how students in the second year of their undergraduate education in the College of Arts and Sciences make a decision about a college major. This study utilized individual interviews with students enrolled at the University of Dayton to explore resources used, information gathered and influences consulted to help determine the decision-making process of these students. Results indicated that family, especially parents, were frequently consulted and had a considerable influence on the choice of major. Students also relied heavily on career considerations as well as self-reflection to determine their own interests and abilities. Most participants expressed that they felt an enormous amount of pressure, both internal and external, to make a decision, and felt a sense of relief once the decision was made. Implications of this study include the necessity for professionals working with undecided students, especially academic and career advisors, to allow those students to discover their own interests and abilities and how they connect with career options. These results can benefit the field of academic and career advising because those professionals can encourage students to think about important decisions they made in the past, to realize they are capable of making good decisions, and to use some of the same methods to choose a major.
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Decoupling the Biomechanics of Locomotion and the Direction of Spatial Updating During Blind-walking Tasks
Adam Barnas, Ellen J. Hart, Natalya N. Lynn, Lauren M. Pytel
Spatial updating, or the process of keeping track of objects' locations relative to one's spatial position while moving is critical to a variety of navigation tasks. Although updating is likely to occur automatically during sighted walking, walking without vision requires imagined updating of spatial relationships that change concurrently with movement. In particular, dynamic spatial updating likely underlies accurate performance when blind-walking to previously seen targets, a task commonly used to assess distance perception (Rieser et al., 1990). Studies of imagined walking suggest that the biomechanical information from locomotion influences the accuracy of spatial updating and blind-walking (Kunz et al., 2009). As replications and extensions of previous research, we further investigated the role of biomechanical information in spatial updating by manipulating the biomechanics of locomotion and the direction of spatial updating during blind walking. In Experiment 1, participants viewed targets that were positioned directly in front of or behind them. Participants were instructed to walk without vision to the targets while spatially updating their position in the environment as they walked either forward to targets in front of them or backward to targets behind them. Consistent with previous results, participants were generally accurate in both forward and backward walking, suggesting that participants spatially update in a manner consistent with their direction of movement, even for backward locomotion. Experiments 2 and 3 attempt to decouple the biomechanics of walking and the direction of spatial updating. Between these experiments, participants will view targets located directly in front of them at different distance ranges. Participants will be instructed to either walk forward without vision to the targets while spatially updating or backward away from the targets while, at the same time, imagining themselves walking forward to the targets and spatially updating in a manner consistent with the imagined forward walking.
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Defect-Free Slider-Crank Function Generation Including Position, Velocity, and Acceleration Specification
Ali Almandeel
The slider-crank linkage is ubiquitous in machinery, from the piston/connecting rod/crankshaft in an IC engine to the flywheel/connecting rod/ram of a mechanical press. Function generation is the method by which slider-crank linkages may be designed to have a desirable set of kinematic properties. The kinematic properties are defined by the curve that relates the rotation of the input link of the slider-crank to the distance of slide produced at the output. The well-established methodology for slider-crank function generation states that five points can be selected to generate one of these curves. The five point methodology does not guarantee that the resulting linkage includes an input link that is capable of a full rotation, a necessity in most practical problems. Moreover, the methodology can result in linkages containing circuit defects. The problems of required full rotation and of avoiding circuit defects are addressed in this research. This research also addresses constraints on velocities and accelerations in the design process.
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Denatonium Benzoate Removal from Water Sources Using Oxidation with Chlorine
Mariana E. Aboujaoude
Denatonium benzoate (DB) is the bitterest substance in existence, and 0.05 ppm of the bittering agent in water is detectable by taste. The Consumer Specialty Products Association and Humane Society Legislative Fund agreed that antifreeze and engine coolant manufacturers would start adding a bittering agent to their products, and several states require DB addition to antifreeze and engine coolant to prevent accidental ingestion. Since 30 ppm of DB in water could cause the water to be unpalatable, a concern is that improper disposal or spillage of products with DB could lead to contamination of water sources used for drinking water through seepage or runoff. Research has shown that sandy soil would not inhibit DB seepage into drinking water sources. The research objective was to determine if oxidation could lower the DB concentration enough to make water palatable. Experiments evaluated DB removal using oxidation batch tests. Organic free water, groundwater, softened groundwater, and softened-settled groundwater were spiked with 70 ppm DB, and 2 ppm chlorine was added. DB concentrations were tested with a high-performance liquid chromatography instrument. The DB percent removal was 4.8% in groundwater with a pH of 6.3. DB removal was 2.9% for softened-settled water with a pH of 7.9. Waters with higher pH levels had less DB removal using chlorine oxidation in comparison to water with pH levels closer to 7. The exception to this was for the softened water with a pH of 9.3 where 7% DB removal occurred. DB may have sorbed to precipitates formed during softening, thus resulting in slightly more removal. DB removal using chlorine in organic-free water was 8.5%. Chlorine did not remove as much DB from natural water with organic matter as it did with organic-free water. Chlorine oxidation did not lower DB levels enough to make water palatable.
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Design and Prototyping of a 3D Shape Changing Mechanism
Joshua E. Nieman
Rigid-body shape-changing mechanisms are composed of a set of links and revolute joints and have the capacity to morph between shapes when actuated. This project examines the challenges associated with the design of a mechanism for morphing from a ''U'' to a ''D''. The initial stage of designing a shape-changing mechanism is completed in two dimensions and yields a design containing a large number of links and joints. Moving this planar concept into a 3D, fully realizable device provides an additional set of design challenges. The stacking, or identifying the vertical ordering of the links, is the challenge. Without a thorough consideration of the motion of the device, links are likely to collide with each other or with joint axes. Stacking issues were identified and remedied via a 3D CAD program. The resulting mechanism was fabricated to provide proof of concept.
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Detecting Changes in the Earth's Magnetic Field
Andrew T. McQuillen
This year the Earth is being subjected to a high amount of solar activity due to the sunspot cycle being close to its maximum. This has an effect on the Earth's magnetic field. While small, the magnetic flux was able to be detected using a magnetometer built from a pair of magnets and a mirror suspended from a nylon thread. A change in the magnetic field of the Earth causes a slight rotation of the magnet which can be detected using laser light reflected off the mirror into a detector.
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Detecting Critical Signals in Sustained Visual Attention Tasks Using Simulated Radar Screens
Adam Barnas, Nnimnoabasi E. Essien, Graham Lang, Giuseppe G. Miranda, Christian L. Sutphin
Vigilance, or sustained attention, typically requires observers to monitor many signals for infrequent critical signals over extended periods of time (Warm, 2003). Infrequent signals, otherwise known as critical signals, are presented differently in some manner and less frequently than the more common and frequent neutral signals. Critical signals typically indicate impending danger that requires immediate action to be made by an observer. Past research posits that sustained attention during a vigilance task declines for some time and is most likely caused by mindlessness, or a withdrawal of attention from the monitoring task (Robertson et al., 1997). The present research investigated the ability of participants to detect changes in visual stimuli and the confidence in their ability to accurately identify critical signals. Participants were presented with sets of stimuli containing four arrows in a circle facing the same clockwise or counter-clockwise direction. Participants responded to the critical signal in the set, which was when one arrow faced the direction opposite to the other three. Participants were queried about their confidence in the accuracy of their detections after all critical and an equal number of neutral signals. Our expectation is consistent with the typical decline in attention over time; that is, confidence will also diminish as the vigilance task continues. The results of the present study can be applied to any situation requiring sustained monitoring of informational displays. For example, pilots and technicians are required to monitor streams of visual and auditory stimuli for prolonged periods of time where the consequence of not detecting a critical signal could be catastrophic. Understanding more about vigilance processes can help avoid disaster.
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Developing a Valuation Based Portfolio of Dow Jones Stocks
Patrick W. Hull, Benjamin F. Rudman
In this study, we create a portfolio of Dow Jones stocks based on valuation rather than price of market cap weight. Our hypothesis is that giving higher portfolio weights to these stocks that are most undervalued will increase portfolio returns. Using a fair value index based on Morningstar fair value prices for each Dow Jones stock, we create a portfolio weighting model. Using the period of 2009-2011 for analysis, we compare the returns of the Dow Jones fair value portfolio to the Dow Jones weighted portfolio. We also divide this period into three sub periods; the rebound period (2009), the growth period (2010), and the trading range period (2011) and compare the performance of our Dow Jones fair value portfolio to the Dow Jones price weighted portfolio.