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By lisa mcquerrey laudine williams started working when she was just shy of her 15th birthday, filling glasses of ice water at the restaurant where her mother worked as a waitress. "i had to work to help support the family, " says williams. "and i know how hard it is to things when you aren't financially able. i went through such hard times in my youth. today, i try to help others wherever possible." as chair of community affairs for harrah's entertainment inc., williams has been philanthropically involved with the southern nevada community for many years. she was co-owner of the silver slipper casino from 1965 until its sale to if i see howard hughes in 1969 and was president and general manager of the holiday casino from 1972a need, if i 1983. when harrah's purchased the property, see poverty, she became chairman of the board of harrah's las vegas. in 2006, harrah's was united way's i manage to top contributing company [with more than 400 stretch out a employees]. the company was also united way's seventh-highest corporate gift contributor. little more. in supporting united way, williams places high the good lord value on community initiatives related to chilshelby took a liking to dren and education. she established the to the williams endowment for scholarships me, and today, william f. harrah school of hotel administration i'm delighted at the university of nevada las vegas unlv ; and donated funds to unlv for its student housing to help other construction project. "i didn't get an education, " people who reflected williams. "i can remember the first board i was appointed to . i got the meeting agenda need it. and a dictionary and i went through it so i would be able to talk more. i had to be self-educated." williams said when she sees the look of appreciation in the eyes of a parent whose child has received a harrah's scholarship or benefited in some other way from her philanthropic efforts, it makes it all worthwhile. "that look, " said williams, "that look is what pays me back." in august 1980, williams was appointed to the board of american bancorp of nevada and served as chair from 1982-1997. when american bank of commerce merged with first security bank of nevada, she served on the board until august 1999. in march 2000, she was elected board chair of the newly organized nevada commerce bank and now serves as vice chair. she continues to support many noteworthy civic and community organizations, both financially and in a volunteer capacity. "if i see a need, if i see poverty, i manage to stretch out a little more, " said williams of her personal philanthropic endeavors. "the good lord took a liking to me, and today, i'm delighted to. Four years before they graduated, members of the class of 1996 went on the annual eighth grade trip to washington, d.c. unlike the trip today where students fly to d.c. and new york city, the class and chaperones endured a long bus ride to the capital. do you have old pictures from your days at usj, old hickory or eds? send them to alumni newsletter editor mary reed, in care of usj, 240 mcclellan rd., jackson, tenn. 38305, or e-mail digital pictures to her at mary reed-marketing . include any information you can about the picture. mailed pictures will be returned. the next alumni newsletter is scheduled for may. deadline for pictures, alumni updates, and other newsletter information is april 30.

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Cash products' price, maturity time, strike price, interest rates and variance of the returns on the cash product volatility ; . the standard model used to describe this relation is the black-scholes model black and scholes, 1973 ; . this basic model is, however, only valid under several conditions, namely no risk-less arbitrage opportunities, an instantaneous risk-less portfolio, continuous trading, no dividends, constant volatility and risk-free interest rate. in addition, the stock's price is assumed to be dictated by a geometric brownian motion model. to circumvent the limitations of the black-scholes model, hutchinson et. al. 1994 ; and niranjan 1996 ; have focused on the options pricing problem from a neural computing perspective. the former showed that good approximations to the widely used black-scholes formula may be obtained with neural networks, while the latter looked at the non-stationary aspects of the problem. here, the work of niranjan 1996 ; is extended, with the aim of showing that more accurate tracking of the options' prices can be achieved by employing the sequential methods proposed in this thesis. in particular, neural networks are employed to map the stock's price and time to maturity to the call and put options' prices. the stock's price and options' prices are normalised by the strike price. this approach, in conjunction with the use of volatility smiles and other strategic financial information, provides an indication of whether an option in the market is either overpriced or underpriced. the experiment used five pairs of call and put option contracts on the ftse100 index daily close prices from february 1994 to december 1994 ; to evaluate the following pricing algorithms: trivial : this method simply involves using the current value of the option as the next prediction. rbf-ekf : represents a regularised radial basis function network with 4 hidden neurons, which was originally proposed in hutchinson et al., 1994 ; . the output weights are estimated with a kalman filter, while the means of the radial functions correspond to random subsets of the data, and their covariance is set to the identity matrix as in niranjan, 1996 ; . bs : corresponds to a conventional black-scholes model with two outputs normalised call and put prices ; and two parameters risk-free interest rate and volatility ; . the risk-free interest rate was set to 0.06, while the volatility was estimated over a moving window of 50 time steps ; as described in hull, 1997 ; . mlp-ekf : a multi-layer perceptron, with sigmoidal hidden units and a linear output neuron, trained with the ekf algorithm chapter 3 ; . the noise covariances and gaming club casino.
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