Individual effects and dynamics in count data models

I

NDIVIDUAL

E

FFECTS AND

D

YNAMICS IN

C

OUNT

D

ATA

M

ODELS

Richard Blundell

Rachel Griffith

Frank Windmeijer

THE INSTITUTE FOR FISCAL STUDIES

W?__@* ,giU|t @?_ #)?@4Ut ? L?| #@|@

L_i*t

+U@h_ *?_i**

_{+@Ui* Bh|}

_{6h@?! `?_4iih}

a?i bc 2fff

Devwudfw

Lq wklv sdshu zh h{dplqh wkh sdqho gdwd hvwlpdwlrq ri g|qdplf prghov iru frxqw gdwd wkdw lqfoxgh fruuhodwhg {hg hhfwv dqg suhghwhuplqhg yduldeohv1 Xvh ri d olqhdu ihhgedfn prgho lv sursrvhg1 Wkh vwdqgdug Srlvvrq frqglwlrqdo pd{0 lpxp olnholkrrg hvwlpdwru iru qrq0g|qdplf prghov/ zklfk lv vkrzq wr eh wkh vdph dv wkh Srlvvrq pd{lpxp olnholkrrg hvwlpdwru lq d prgho zlwk lqglylgxdo vshflf frqvwdqwv/ lv lqfrqvlvwhqw zkhq uhjuhvvruv duh suhghwhuplqhg1 D txdvl0 glhuhqfhg JPP hvwlpdwru lv frqvlvwhqw iru wkh sdudphwhuv lq wkh g|qdplf prgho/ exw zkhq vhulhv duh kljko| shuvlvwhqw/ wkhuh lv d sureohp ri zhdn lqvwux0 phqw eldv1 Dq hvwlpdwru lv sursrvhg wkdw xwlolvhv suh0vdpsoh lqirupdwlrq ri wkh ghshqghqw frxqw yduldeoh/ zklfk lv vkrzq lq Prqwh Fduor vlpxodwlrqv wr srvvhvv ghvludeoh vpdoo vdpsoh surshuwlhv1 Wkh prghov dqg hvwlpdwruv duh dssolhg wr gdwd rq XV sdwhqwv dqg U)G h{shqglwxuh1

Nh| Zrugv= g|qdplf frxqw sdqho gdwd/ lqglylgxdo hhfwv/ suhghwhuplqhg uhjuhv0 vruv/ Jhqhudolvhg Phwkrg ri Prphqwv/ suh0vdpsoh lqirupdwlrq

MHO Fodvvlfdwlrq= F56/ F58/ R63

_{Zh duh judwhixo wr Pdqxho Duhoodqr/ Dqguhz Fkhvkhu/ ]yl Julolfkhv/ Eurqz|q Kdoo/ Er Krqruh/}

Qhlo Vkhskdug dqg vhplqdu sduwlflsdqwv dw Wrn|r/ Eulvwro/ Qxhog Froohjh dqg Qrwwlqjkdp iru khosixo frpphqwv1 Wklv vwxg| lv sduw ri wkh surjudp ri uhvhdufk ri wkh HVUF Dqdo|vlv ri Odujh dqg Frpsoh{ Gdwd Vhwv dw XFO dqg wkh HVUF Fhqwuh iru wkh Plfurhfrqrplf Dqdo|vlv ri Ilvfdo Srolf| dw LIV1 Wkh qdqfldo vxssruw ri wkh HVUF lv judwhixoo| dfnqrzohgjhg1 Zh duh judwhixo wr Eurqz|q Kdoo iru surylglqj wkh gdwd rq sdwhqwv dqg U)G xvhg lq wklv vwxg|1 Wkh xvxdo glvfodlphu dssolhv1

|_{Xqlyhuvlw| Froohjh Orqgrq dqg Lqvwlwxwh iru Ilvfdo Vwxglhv} }_{Lqvwlwxwh iru Ilvfdo Vwxglhv}

 W?|hL_U|L?

L?| _@|@ ThLUittit @hi UL44L?T*@Ui ? i4ThU@* 4UhLiUL?L4Ut W? T@?i* _@|@ @TT*U@|L?t Lu UL?| 4L_i*t | ** Lu|i? Mi |i U@ti |@| |i ThLUitt ?_ih t|_) t ?ihi?|*) _)?@4U tL |@| |i t|Lh) Lu |i UL?| ThLUitt |ti*u MiUL4it @? 4TLh|@?| _i|ih4?@?| Lu Uhhi?| L|UL4it t ? L|ih T@?i* _@|@ @TT*U@|L?t | t @*tL *!i*) |@| ?LMtihi_ i|ihL}i?i|) ** Mi Thiti?|c ?_U?} Tihtt|i?|*) _gihi?| UL?|t @UhLtt ?__@*t Lh €h4t At T@Tih 4@!it |L UL?|hM|L?t |L |i _ii*LT4i?| Lu @ 4L_i*?} uh@4iLh! |@| @**Lt uLh _)?@4U uii_M@U! @?_ ? LMtihi_ i|ihL}i?i|) 6ht|c |i ti Lu Thit@4T*i ?uLh4@|L? t ?it|}@|i_ @t @ 4i|L_ Lu 4ThL?} |i iUi?U) Lu it|4@|Lht ? T@?i* UL?| 4L_i*t | Thi_i|ih 4?i_ UL@h@|it 5iUL?_c @ *?i@h uii_M@U! 4L_i* uLh _)?@4U T@?i* _@|@ @TT*U@|L?t t ThLTLti_ At 4L_i*?} @TThL@U t |i? @TT*i_ |L |i @?@*)tt Lu |i hi*@|L?tT Mi|ii? +:# @?_ T@|i?|t uLh @ T@?i* Lu N5 €h4t

W? UL?| _@|@ 4L_i*tc ihi @ ?@|h@* ?L?*?i@h|) t ThL_Ui_ M) |i ?L? ?i}@|i _tUhi|i ?@|hi Lu |i _@|@c t|@?_@h_ Bi?ih@*ti_ i|L_ Lu L4i?|t EB 4i|L_t uLh |i it|4@|L? Lu _)?@4U € i_ igiU|t 4L_i*t _{@hi ?L| _hiU|*) @TT*U@}

M*i Ai t|@?_@h_ T@?i* _@|@ it|4@|Lh uLh UL?| 4L_i*t | ULhhi*@|i_ € i_ igiU|t t |i LttL? UL?_|L?@* 4@ 44 *!i*LL_ it|4@|Lh ThLTLti_ M) O@t4@?c O@** @?_ Bh*Uit EbHe `i tL |@| |t it|4@|Lh t |i t@4i @t |i LttL? 4@ 44 *!i*LL_ it|4@|Lh ? @ 4L_i* | ?__@* tTiU€U UL?t|@?|tc @t |i LttL? 4L_i* _Lit ?L| tgih uhL4 |i ?U_i?|@* T@h@4i|ih ThLM*i4 At it|4@|Lh t i^ @*i?| |L @ 4L4i?| it|4@|Lh ? @ 4L_i* ihi |i € i_ igiU|t @hi hiT*@Ui_ M) |i h@|L Lu |? }hLT 4i@?t W| t |ihiuLhi ?UL?tt|i?| uLh |i T@h@4i|iht Lu ?|ihit| u |i hi}hittLht @hi Thi_i|ih4?i_ @?_ |ihiuLhi @hi ?L| t|hU|*) i L}i?Lt

6Lh |i U@ti Lu Thi_i|ih4?i_ hi}hittLhtc @4Mih*@? Ebb2c bb @?_ `LL*_h_}i Ebb. @i _ii*LTi_ @ UL?tt|i?| ^@t_gihi?Ui_ B it|4@|Lh At @t Mii?

4_{Vhh Krow}0Hdnlq/ Qhzh| dqg Urvhq +4<;;,/ Duhoodqr dqg Erqg +4<<4, dqg Dkq dqg Vfkplgw}

+4<<8,/ iru h{dpsoh1

@TT*i_ |L |i it|4@|L? Lu UL?| _@|@ 4L_i*t | Thi_i|ih4?i_ hi}hittLht M) L? |@*L Ebb.c h‚iTL? @?_ #}i| Ebb.c @?_ ?Uih@ Ebb. W? |t T@Tih i i |i?_ |t ^@t_gihi?Ui_ B it|4@|Lh |L |i _)?@4U *?i@h uii_M@U! 4L_i*c @?_ ?it|}@|i |t t4@** t@4T*i Mi@Lh M) 4i@?t Lu @ L?|i @h*L t|_)

h ?it|}@|L?t tL |@| |i ^@t_gihi?Ui_ B it|4@|Lh U@? Mi tiihi*) M@ti_ ? t4@** t@4T*it i? hi}hittLht @hi }*) Tihtt|i?|c @?_ |i ?t|h4i?|t |ihiuLhi i@! Thi_U|Lht Lu |i i?_L}i?Lt @h@M*it ? |i _gihi?Ui_ 4L_i* t @? @*|ih?@|i it|4@|Lh i ThLTLti @ Thit@4T*i 4i@? E5 it|4@|Lh |@| hiT*@Uit

|i € i_ igiU| M) |i Thit@4T*i 4i@? Lu |i _iTi?_i?| @h@M*i At it|4@|Lh t

tTiU€U@**) _it}?i_ |L i T*L| _@|@ ti|t ihi ?uLh4@|L? L? |i _iTi?_i?| @h@M*i t @@*@M*i uLh i@h*ih )i@ht |@? ?uLh4@|L? L? |i hi}hittLht At t @ UL44L? t|@|L? ihi @_4?t|h@|i _@|@c tU @t T@|i?|t Lh ??L@|L? tihitc t 4@|Ui_

| thi) Lh @UUL?|?} _@|@2 _{At it|4@|Lh t UL?tt|i?| i? |i ?4Mih Lu}

Thit@4T*i TihL_t }i|t *@h}i

AL i T*U|*) 4L_i* |i _)?@4Ut Lu |i UL?| ThLUitt ? T@?i* _@|@ i UL?t_ih |i *?i@h uii_M@U! 4L_i* Ew6 At @t |t uL?_@|L?t ? |i W?|i}ih V@*i_ |Lhi}hitti EW+ }i?ih@*t@|L? Lu |i LttL? 4L_i* |L |i + ThLUitt _ii*LTi_ M) *t @?_ *3@_ EbH.c Uki?3i EbHH @?_ h@??@t Ebbe W? |t 4L_i* |i UL?_|L?@* 4i@? Lu |i UL?| @h@M*i t 4L_i**i_ *?i@h*) ? |i t|Lh) Lu |i ThLUitt At tTiU€U@|L? t tL? |L Mi i** @_@T|i_ |L iUL?L4U @TT*U@|L?t @?_ itTiU@**) UL?i?i?| uLh ?_iht|@?_?} |i _)?@4U ThLTih|it Lu UL?| _@|@ ThLUittit

? @TT*U@|L? t 4@_i |L |i _@|@ ti| Lu N5 €h4t< +:# i Ti?_|hi @?_ T@|i?|?} @U||) ti_ ? O@**c Bh*Uit @?_ O@t4@? EbHS @?_ hi*@|i_ Lh! Ai ttit @__hitti_ ? |t i@h*ih Lh! hi*@|i |L ^@?|u)?} |i +:# ULt| Lu @ T@|i?| @?_ @ttitt?} |i |4?} Lu hi|h?t |L +:# At t 4@_i _U*| M) |i u@U| |@| ?L|

5_{H{dpsohv ri wkhvh w|shv ri gdwd vhwv lqfoxgh wkh VSUX gdwd lq wkh XN/ vhh Sdylww/ Urevrq dqg}

Wrzqvhqg +4<;:,/ dqg sdwhqw dqg U)G vhulhv lq pdq| frxqwulhv1

L?*) 4@) +:# i Ti?_|hit *i@_ |L T@|i?|t M| @*tL T@|i?|t 4@) |i4ti*it ?_Ui u|hi +:# i Ti?_|hit L?ti^i?|*)c +:# t ?*!i*) |L Mi t|hU|*) i L}i?Lt

Ai *@)L| Lu |i T@Tih t @t uL**Lt W? |i ?i | tiU|L? i _tUtt |i Lt tL? 4@ 44 *!i*LL_ it|4@|Lh uLh UL?| _@|@ ? @ 4L_i* | ?__@* tTiU€U UL?t|@?|t @?_ tL |t i^@*i?Ui | |i LttL? UL?_|L?@* 4@ 44 *!i*LL_ it|4@|Lh Ai ti Lu @ ^@t_gihi?Ui_ B it|4@|Lh uLh @ 4L_i* | Thi_i|ih 4?i_ hi}hittLht t UL?t_ihi_c @?_ |i Thit@4T*i 4i@? it|4@|Lh t ?|hL_Ui_ W? tiU|L? c |i *?i@h uii_M@U! 4L_i* t Thiti?|i_ @?_ |i it|4@|L? Lu |i 4L_i* t _tUtti_ 5iU|L? e Thiti?|t hit*|t Lu @ L?|i @h*L t4*@|L? t|_) @?_ ? tiU|L? D |i _)?@4U 4L_i* @?_ @hLt it|4@|Lht @hi @TT*i_ |L |i T@|i?|+:# _@|@

2 6 i_ ,giU|t L_i*t uLh L?| #@|@

wi|+|_i?L|i |i _tUhi|i UL?| @h@M*i |L Mi i T*@?i_ uLh tMiU|c ' c c c

@| |4i |c | ' c c A( @?_ *i| %| _i?L|i @ iU|Lh Lu i T*@?@|Lh) @h@M*it Ai

i TL?i?|@* ELh *L}*?! 4L_i* Lu |i uLh4

.E+|m%| ' i T E%|qc E2

t UL44L?*) ti_ uLh UL?| _@|@ _{? 4TLh|@?| ui@|hi ? T@?i* _@|@ @TT*U@|L?t}

t ?LMtihi_ i|ihL}i?i|) Lh ?__@* € i_ igiU|t 6Lh UL?| _@|@ 4L_i*t |iti igiU|t @hi }i?ih@**) 4L_i**i_ 4*|T*U@|i*) @t

.E+|m%|c # ' i T E%|qn# E22

' >|Dc

ihi>|i T E%|qc @?_ D i T E# t @ Tih4@?i?| tU@*?} u@U|Lh uLh |i ?__

@* tTiU€U 4i@? At 4T*U|*) _i€?it @ hi}hittL? 4L_i*

+|'>|Dn| E2

6_{Vhh Jrxulhurx{/ Prqiruw dqg Wurjqrq +4<;7,/ PfFxoodjk dqg Qhoghu +4<;<,/ Fdphurq dqg}

Wulyhgl +4<;9, dqg Zlqnhopdqq +4<<:, iru jrrg jhqhudo glvfxvvlrqv ri wkhvh prghov1

W? }i?ih@*c | t *!i*) |@| |i ?LMtihi_ € i_ UL4TL?i?|t# @hi ULhhi*@|i_ | |i

i T*@?@|Lh) @h@M*itc.E%|#9' fc @?_ |ihiuLhi t|@?_@h_ h@?_L4 igiU|t it|4@|Lht

** Mi ?UL?tt|i?|

2 5|hU|*) , L}i?Lt +i}hittLht

`i? |i%| @hi t|hU|*) i L}i?Ltc |i UL?_|L?@* 4i@? Lu +| t@|t€it

.E+|mDc %| '.E+|mDc %c c %A E2e

6Lh |t U@tic tiih@* it|4@|Lht uLhq @i Mii? ThLTLti_ |@| @**L uLh ?__@* iu uiU|t |L Mi ULhhi*@|i_ | |i hi}hittLht O@t4@?c O@** @?_ Bh*Uit EbHe ti |i

LttL? UL?_|L?@* 4@ 44 *!i*LL_ it|4@|Lh Ew,c UL?_|L??} L?SA

|'+|c

U t |i tUi?| t|@|t|U uLh # At 4i|L_ 44Ut |i € i_ igiU| *L}| @T

ThL@U Lu @4Mih*@? EbHe OLiihc |i LttL? 4@ 44 *!i*LL_ it|4@|Lh

Ew, uLh q ? @ 4L_i* | tiT@h@|i ?__@* tTiU€U UL?t|@?|t _Lit ?L| tgih

uhL4 |i ?U_i?|@* T@h@4i|iht ThLM*i4c @?_ t |ihiuLhi UL?tt|i?| E@?_c i tL Mi*Lc t |i t@4i @t |i w, AL tii |tc ?L|i |@| |i 4@ 44 *!i*LL_ €ht| Lh_ih UL?_|L?t uLh |i D @hi }i? M)

Y*?u YD '

A

[

|'

YE+|*? E>|D>|D

YD '

A

[

|'

₊

|

D >|

' f

@?_ |ihiuLhi |i w, uLhD t }i? M)

e

DEu ' +_> c

ihi + 'A3SA

|'+| @?_ > 'A3SA|'i T E%|q Ai w, Lu |i € i_ igiU| t

?_iTi?_i?| LuD 5Mt|||?} |i € i_ igiU|t it|4@|it ? |i €ht| Lh_ih UL?_|L?t

uLh q hit*|t ?

Y*?u

Yq EDe '

[ ' A [ |' #

+|>|_>+

$

%|' f

`i? %| t t|hU|*) i L}i?Ltc

T*4<" Y_Yq*?uEDe ' T*4<" [ ' A [ |' #

| >_>|

$

%| ' fc

| ' A3SA|'|c @?_ |ihiuLhi |i w, uLh q t UL?tt|i?|e W | t uh|ih

_i?|U@* |L |i w, Ai *@||ih U@? Mi tii? @t uL**Lt Ai LttL? UL?_|L?@* *L}

*!i*LL_ u?U|L? t }i? M)D

*?u'[

' A

[

|'

KE+|n  [ ' A [ |' +|*? % _A [ r'

i T EE%|%rq

& c

ihi KE t |i }@44@ u?U|L? Ai €ht|Lh_ih UL?_|L? uLh q t

Y*?u

Yq ' [ ' A [ |' +| S_A

r'i T EE%|%rq A

[

r'i T EE%|%r _{q E%}

|%r

' [ ' A [ |'+|%| [ ' A [ |'+| S_A

r'%ri T E%rq

S_A

r'i T E%rq

' [ ' A [ |'%| #

+|>|_>+

$ c

U t i @U|*) |i t@4i @t |i w, €ht| Lh_ih UL?_|L? uLh q

Ai €ht| Lh_ih UL?_|L?t 4T*) |@| |i LttL? w, uLh q t i^@*i?| |L |i

4L4i?| it|4@|Lh ? @ 4L_i* ihi |i h@|L Lu ?__@*c Lh |? }hLTc 4i@?t

@hi ti_ |L @TThL 4@|i |i ?__@* tTiU€U igiU|t At 4i@? tU@*?} 4L_i* t

}i? M)

+| '>|_>+ n

W

|c E2D

ihiW

|'|>_>| `i U@** |t it|4@|Lh |i|? }hLT 4i@? tU@*?}it|4@|LhS

Ai hit*|t @hi t44@hti_ ? |i uL**L?} *i44@

wi44@  Ai LttL? w, uLh q ? |i 4L_i* | tiT@h@|i ?__@* UL?t|@?|t t UL?tt|i?| @?_ |i t@4i @t |i LttL? w, Ai it|4@|Lh t _i?|U@* |L |i 4L4i?| it|4@|Lh ? @ 4i@? tU@*?} 4L_i* tL*?} |i 4L4i?| UL?_|L?t

[ ' A [ |' %| #

+|>|_>+

$

' fc E2S

ihi>| ' i T E%|q

7_{Odqfdvwhu +4<<:, qgv wkh vdph uhvxow iru wkh Srlvvrq prgho e| phdqv ri d ghfrpsrvlwlrq ri wkh}

olnholkrrg1

8_{Vhh Kdxvpdq/ Kdoo dqg Julolfkhv +4<;7/ s1 <4<,1}

9_{Fohduo|/ wkh Srlvvrq svhxgr0olnholkrrg uhvxowv duh suhvhuyhg1}

22 hi_i|ih4?i_ +i}hittLht

W? iUL?L4U @TT*U@|L?t | t UL44L?*) |i U@ti |@| |ihi t uii_M@U! uhL4 |i _iTi?_i?| @h@M*i |L |i i T*@?@|Lh) @h@M*it hi}hittLh t Thi_i|ih4?i_ i? | t ?L| ULhhi*@|i_ | Uhhi?| @?_ u|hi tLU!tc M| | t ULhhi*@|i_ | T@t| tLU!tG

.E%||n ' fc f

.E%||3r 9' fc r

`| Thi_i|ih4?i_ hi}hittLhtc UL?_|L? E2e _Lit ?L| L*_ @?_ |ihiuLhi |i it| 4@|Lh Luq|@| tL*it |i t@4T*i 4L4i?| UL?_|L?t E2S t ?L *L?}ih UL?tt|i?| t?Ui

%| t ?L ULhhi*@|i_ |W| |hL} At hit*| t @?@*L}Lt |L |i ?UL?tt|i?U)

hit*| uLh |i |? }hLT it|4@|Lh uLh *?i@h T@?i* _@|@ 4L_i*t | Thi_i|ih4?i_ hi}hittLht ? tLh| T@?i*t.

@4Mih*@? Ebb2 @?_ `LL*_h_}i Ebb. @i ThLTLti_ |h@?tuLh4@|L?t |@| i*4?@|i |i € i_ igiU| uhL4 |i 4*|T*U@|i 4L_i* @?_ }i?ih@|i Lh|L}L?@*|) UL?_|L?t |@| U@? Mi ti_ uLh UL?tt|i?| it|4@|L? ? UL?| _@|@ 4L_i*t | Thi _i|ih4?i_ hi}hittLhtH _{Ai |h@?tuLh4@|L? t}

r| ' +|>_>|3

| +|3 E2.

' |>_>|3

| |3

wi| %|3

' E%c c %|3 `i? %| t Thi_i|ih4?i_c |i uL**L?} A EA *2

4L4i?| UL?_|L?t L*_G

.r|m%|3

'.Dƒ%|3

.r|mDc %|3

' fc E2H

t?} |i *@ Lu |ih@|i_ i TiU|@|L?t

:_{Vhh Qlfnhoo +4<;4,1}

;_{Iru txdvl0glhuhqfhg prphqw frqglwlrqv wkdw duh ydolg zkhq {}

lwlv hqgrjhqrxvo| ghwhuplqhg/ vhh

Zrrogulgjh +4<<4, dqg Zlqgphlmhu +5333,1

h|L}L?@*|) UL?_|L? E2H U@? Mi ti_ |L UL?tt|i?|*) it|4@|i |i 4L_i* T@

h@4i|ihtq M) |i B it|4@|L? |iU?^ib _{At it|4@|Lh 4?4tit}

#  [ ' r ~ $ `3 #  [ ' ~ r $ c

ihir t |i A iU|Lh Lu hit_@*tir|jc~ t |i 4@|h Lu ?t|h4i?|t @?_`

t @ i}| 4@|h Ai LT|4@* i}| 4@|h t }i? M)

` ' 

[

'~

rEqhrEqh~c

ihirEqh t M@ti_ L? @? ?|@* UL?tt|i?| it|4@|iqh

`i? L?*) %|3 t ti_ @t @? ?t|h4i?|c |i B it|4@|Lh tL*it |i t@4T*i

4L4i?| UL?_|L?t [ ' A [

|'2%|3r| '

[

' A

[

|'2%|3

#

+|3>|3_>+| |

$

' fc E2b

U @hi t4*@h |L |i €ht|Lh_ih UL?_|L? Lu |i 4i@? tU@*?} it|4@|Lh E2Sc M|

*i@_tLu + @?_ >@hi ti_ |L it|4@|i D ?t|i@_ Lu t@4T*i 4i@?t

2 hi5@4T*i i@? ,t|4@|Lh

UL44L? ThLM*i4 | |i B it|4@|L? Lu E^@t_gihi?Ui_ 4L_i*t t ?} *@}t @t ?t|h4i?|t |L Thi_U| u|hi U@?}it t |@| i? iUL?L4U tihit @hi }*) Tihtt|i?| |i ?t|h4i?|t @hi ih) i@! Thi_U|Lht At hit*|t ? @ t4@** t@4T*i M@t Lu |i B it|4@|Lh ? |i _hiU|L? Lu |i it|4@|Lh |@| tit |i i T*@?@|Lh) @h@M*it |i4ti*itc U @hi i?_L}i?Lt ? |i _gihi?Ui_ i^@|L?c @t ?t|h4i?|tf

W? |i T@|i?|t @?_ +:# @TT*U@|L? Thiti?|i_ Mi*Lc @t ? 4@?) @TT*U@|L?tc ML| tihit @hi }*) Tihtt|i?| Lih |4i @?_ |ihi t Thit@4T*i ?uLh4@|L? Ei @ *L?}ih |4i tihit L? |i _iTi?_i?| @h@M*i E|i T@|i?| tihit ? it|4@|Lh |@|

<_{Vhh Kdqvhq +4<;5,1}

43_{Vhh Vwdljhu dqg Vwrfn +4<<:,/ dqg Eoxqghoo dqg Erqg +4<<;,1}

|*tit |t Thit@4T*i ?uLh4@|L? t @ 4L4i?| it|4@|Lh ? |i 4L_i*

+| ' i T

qW

f n%|qn*?+R

n0|c

ihi +_R ' 

A

S_{A 3}

o'f +f3o t |i Thit@4T*i 4i@? Lu +( A t |i ?4Mih Lu Thi

t@4T*i LMtih@|L?t @?_t @ T@h@4i|ih |L Mi it|4@|i_ 6Lh UL?i?i?Uic i @tt4i |@| |ihi t @ t?}*i hi}hittLh ? |i 4L_i*c |i i |i?tL? |L 4*|T*i hi}hittLht t t|h@}|uLh@h_ Ai 4L4i?| it|4@|Lh tL*it |i t| _i?|€i_ t@4T*i 4L4i?| UL?_|L?t  [ ' A [ |' 5|

+|i T

qW

f n%|qn*?+R

' fc E2f

ihi5|'

c %|c*?+R

`i U@** |t it|4@|Lh |i Thit@4T*i 4i@? it|4@|Lh Ai

uL**L?} *i44@ @?_ ULhL**@h) t|@|i |i }i?ih@* UL?_|L?t ?_ih U |t it|4@|Lh t UL?tt|i?|

wi44@ 2 Ai 4L4i?| it|4@|Lh |@| tL*it |i t@4T*i 4L4i?| UL?_|L?t E2f t UL?tt|i?| uLh $ 4 @?_ A $ 4cu

*?+_R' *?

#



A

A 3_[ o'f +f3o

$

'@nK# nJREA Ec E2

ihi @ h@?_L4 @h@M*i^A tJREA Eu T*4A <"E^A ' f Ai T@h@4i|iht @hi

|i? }i? M)' 

K @?_ qfW 'qf @_K

hLLuG Nt?} ThLTih|) E2c |i 4L4i?|t UL?_|L?t E2f U@? Mi h||i? @t  [ ' A [ |' 5|

i T Eqfn%|qn#i T

qW

f n%|qn

@nK#nJREA E

n|

' f

Ai ULhhitTL?_?} TLT*@|L? 4L4i?| UL?_|L?t L*_ uLh ' 

K @?_ qfW 'qf @_K @t

? |@| U@ti

.A <" A

[

|'5|

i T Eqfn%|qn#

i TJREA E

n|

' fc

@t |i |ih4 ?L*?} i TJREA E

@?tit i?A $ 4

Ai ?i | ULhL**@h) t|@|it |i UL?_|L?t |@| |i %| ThLUitt @t |L t@|tu) ? Lh_ih

uLh |i UL?_|L?t Lu wi44@ 2 |L L*_

LhL**@h) Ai UL?_|L? E2 L*_t @?_ |i Thit@4T*i 4i@? it|4@|Lh t UL? tt|i?| uLh $ 4 @?_ A $ 4 u |i %| ThLUitt t @ t|@|L?@h) _ ThLUitt |

€?|i 4L4i?|t @?_ |t E*L?}h? 4i@? ThLTLh|L?@* |L#

hLLuG `h|i |i %| ThLUitt |@| t@|t€it |i UL?_|L?t Lu |i ULhL**@h) @t

%| 'b#n|

Nt?} @ A@)*Lh tihit i T@?tL?c |i i TiU|@|L? Lu +| UL?_|L?@* L? # t |i? }i?

M)

.E+|m# ' .Ei T Eqfn%|qn# n|

' .Ei T Eqfn E nqb#|Wc

ihi W

| 'S"'fq

-| AihiuLhic M) |i *@ Lu *@h}i ?4Mihtc |i *L}@h|4 Lu |i

Thit@4T*i 4i@? t i^@* |L

*?+_R'@n E nqb#nJREA Ec

ihi@ 'qfn *?S"'f q

-.E

? i @4T*i Lu @ t|@|L?@h)%| ThLUitt |@| t@|t€it |i UL?_|L?t Lu |i ULhL**@h)

t %| ' 4%|3 n # n 0|c | |i 0| _ | €?|i 4L4i?|t Ai? b ' _34

@?_ | ' S"'f40|3 L|i |@| u %| t uh|ih ?Lh4@**) _t|hM|i_c @ t }i? M)

qfn₂q2j2

w?i@h 6ii_M@U! L_i*

W?|hL_U?} _)?@4Ut ?|L 4L_i*t Lu |i uLh4 E22 t ?L| t|h@}|uLh@h_ t?Ui |i UL?_|L?@* 4i@? t hi^hi_ |L hi4@? TLt|i W?U*tL? Lu u?U|L?t Lu |i *@}}i_ _iTi?_i?| @h@M*i ? |i i TL?i?|@* u?U|L? U@? *i@_ |L i T*Lti tihit Lh |L ThLM*i4t | |h@?tuLh4?} 3ihL @*it Ai _)?@4U tTiU€U@|L? UL?t_ihi_ ihi

t @ *?i@h uii_M@U! 4L_i* Ai UL?_|L?@* 4i@? ? |i *?i@h uii_M@U! 4L_i* Ew6 t _i€?i_ @t

.E+|m+|3c %|c D ' +|3n i TE%|qD E

+|3n>|D

Ai w6 @t |t Lh}?t ? |i W?|i}ihV@*i_ |Lhi}hitti EW+ ThLUittc

@?_ U@? Mi 4L|@|i_ @t @? i?|h)i | ThLUitt | |i ThLM@M*|) Lu i | i^@* |L

E Ai ULhhi*@|L? Lih |4i ? |i W+E 4L_i* |L| @__|L?@* hi}hittLht

t }i? M)

SJooE+|c +|3 ' c

| : fc @t L?*) TLt|i @ttLU@|L? t TLttM*i 5?Ui >|D t ?L??i}@|ic |i

4i@? @*i uLh +| t ML?_i_ Mi*L M)+|3

,i? i? |i%|@hi t|hU|*) i L}i?Ltc |i |? }hLTt 4i@? tU@*?} it|4@|Lh

** Mi ?UL?tt|i?| uLh t4@** Ac @t |i *@}}i_ _iTi?_i?| @h@M*i t @ Thi_i|ih4?i_

@h@M*i2 _{6Lh it|4@|L? M) Bc |i ^@t_gihi?Ui_ |h@?tuLh4@|L? uLh |i w6}

4L_i* t }i? M)

r| ' E+|+|3>_>|3

| E+|3+|32 '|

>|3

>| |3c E2

ihi | ' +| .E+|m+|3c %|c D W? |i U@ti Lu @ t?}*i hi}hittLh %|c U t

t|hU|*) i L}i?Ltc |i uL**L?} EA  EA 2*2 nA EA 2 4L4i?| UL?_|L?t L*_

.Er|m+c c +|32c %c c %A ' f E

6Lh Thi_i|ih4?i_%| |i EA  EA 2*2nAEA *2 4L4i?| UL?_|L?t @hi

.Er|m+c c +|32c %c c %|3 ' f Ee

44_{Vhh Do0Rvk dqg Do}dlg +4<;:,/ PfNhq}lh +4<;;,/ Urqqlqj dqg Mxqj +4<<5,/ Eu‚dqq‚dv +4<<7, dqg}

E‚rfnhqkrow +4<<<,1 Iru h{whqvlrq ri wkh LQDU+4, wr wkh LQDU+s, prgho vhh Do}dlg dqg Do0Rvk +4<<3, dqg Mlq0Jxdq dqg \xdq +4<<4,1

45_{Qrwh wkdw iru wkh OIP wkh zlwklq jurxsv phdq vfdolqj hvwlpdwru lv qr orqjhu htxlydohqw wr wkh}

Srlvvrq {hg hhfwv POH1

Ai t| _i?|€i_ t@4T*i 4L4i?|t uLh |i Thit@4T*i 4i@? it|4@|Lh uLh |i w6 @hi }i? M)

[ ' A [ |'2 5|

+|+|3i T

qW

f n%|qn*?+R

' fc ED

ihi5| '

c +|3c %|c*?+R

At it|4@|Lh t UL?tt|i?| ?_ih |i t@4i UL?_|L?t @t t|@|i_ ? wi44@ 2 @?_ LhL**@h) Ai UL?t|@?|qW

f t ? |t U@ti uh|ih tu|i_

M) *? E*c @t |i E*L?}h? 4i@? Lu +| UL?_|L?@* L? # t }i? M)

.E+|m# ' .

3 C["

'f

_{i T Eq}

fn%|3qn#

4 D

' .

3 C["

'f

_{i T Eq}

fn E nbq#nq|3

4 D

' _

3

C_{i T Eqfn E nqb#}["

'f q -. 4 D

e L?|i @h*L +it*|t

iuLhi |h??} |L |i i4ThU@* @TT*U@|L? | t 4TLh|@?| |L ThL_i @? i@*@|L? Lu |i TihuLh4@?Ui Lu |i it|4@|Lht _itUhMi_ ? |i ThiLt tiU|L?t uLh |i *?i@h uii_M@U! 4L_i* 6ht|c hit*|t Lu tL4i L?|i @h*L i Tih4i?|t @hi Thiti?|i_ | @ _it}? ihi |i i T*@?@|Lh) @h@M*it @hi ?L| ih) Tihtt|i?|c @?_ tL |i ^@t _gihi?Ui_ B it|4@|Lh t i TiU|i_ |L TihuLh4 hi*@|i*) i** Ai TihuLh4@?Uit Lu |i it|4@|Lht @hi |i? ?it|}@|i_ ? |i *?i@h uii_M@U! 4L_i* uLh %| ThLUittit

|@| @hi 4Lhi Tihtt|i?| Lih |4i Ai Thit@4T*i 4i@? it|4@|Lh t uL?_ |L @i t4@**ih M@t @?_ *Lih hLL| 4i@? t^@hi_ ihhLh ? @*4Lt| @** ti||?}t

Ai _@|@ }i?ih@|?} ThLUittit @hi

+| JrrJ?E+|3n i T Eq%|n#

%| ' 4%|3n#n0|

%f ' _{ 4}# n1

+f JrrJ?Ei T E%fqn#

#

k

fc j2 #

l

0|

k

fc j2 0

l

1

%

fc j02

42

&

6u|) TihL_t @hi }i?ih@|i_ MiuLhi |i t@4T*i t _h@?

+it*|t uLh |i _@|@ }i?ih@|?} ThLUitt | T@h@4i|ih @*it ' fDc q ' fDc

4' fDc ' fcj2

# ' fD @?_ j02 ' fD @hi Thiti?|i_ ? A@M*it e @?_ e2 uLh A ' e

@?_ A ' H hitTiU|i*) @?_ t@4T*i t3it ' ffc ' Dffc @?_ ' fff Ai M@t

@?_ hLL| 4i@? t^@hi_ ihhLh E+5, @hi hiTLh|i_ uLh @hLt it|4@|Lht Lu @?_ qc uLh fff hiT*U@|L?t

Ai |@M*it hiTLh| hit*|t uLh @ *ii*t it|4@|Lh |@| _Lit ?L| |@!i @UUL?| Lu ? LMtihi_ i|ihL}i?i|) @?_ tL*it |i 4L4i?| UL?_|L?t

[

' A

[

|'25|E+|+|3i T Eqfn%|q ' fc Ee

| 5| ' Ec +|3c %| Aiti it|4@|it @hi _i?L|i_,eD @?_ q,eD t t U*i@h uhL4

|i |@M*itc |iti *ii* it|4@|it @hi UL?t_ih@M*) M@ti_ T@h_t

+it*|t uLh |i |? }hLT 4i@? tU@*?} it|4@|Lh @hi @*tL hiTLh|i_ At it| 4@|Lh tL*it |i 4L4i?| UL?_|L?t

[

' A

[

|'25|

#

+|+|3>|+_>+c3

$

' fc Ee2

|5| ' E+|3c %|c+ ' A 3

S_A

|'2+|c+c3 ' A 3

S_A

|'2+|3c @?_> ' A 3

S_A

|'2i T E%|q

Aiti it|4@|it @hi _i?L|i_}@?_q}? |i |@M*it t i TiU|i_c |i |? }hLT

it|4@|it @hi M@ti_ _L?@h_t

Ai Thit@4T*i 4i@? it|4@|Lht |@| tL*i ED @hi _i?L|i_ Rr6 @?_ qRr6

+it*|t @hi hiTLh|i_ uLh Hc 2D @?_ Df Thit@4T*i TihL_t hitTiU|i*) Ai M@t @?_ +5, Lu |iti it|4@|it @hi hi*@|i*) t4@**c @?_ ML| _iUhi@ti @t |i ?4Mih Lu

Thit@4T*i TihL_t ?Uhi@tit W?Uhi@t?} |i t@4T*i t3i @?_%Lh A _Lit 4ThLi

|i +5,c M| L?*) 4@h}?@**) tL

A@M*i eG L?|i @h*L hit*|t uLh w?i@h 6ii_M@U! L_i*c A'e

' fD(q ' fD(4' fD( ' f(j2

# ' fD(j20 ' fD

' ff ' Dff ' fff

K@r o6re K@r o6re K@r o6re

,eD f2S2 f2.f f2.e f2.S f2.S f2.H

q,eD fDe. fSSb fDfS fDH fDfD fDS

} feDf feS feeD feeH feeS fee.

q} f2S2 f2.D f2S f2S f2S2 f2S

Rr6H ffDe ffbD ffSS ff.S ffSD ff.f

qRr6H ffDH feD ffS ffH. ffDb ff.2

Rr62D ff2e ff.S fff ffeS ff ffb

qRr62D ff2e fS ff2b ffDH ff2. ffee

Rr6Df fffb ff.2 ffD ffS ffS ff2H

qRr6Df fffb ff. ffD ffDf ff ffD

^_Ro f2S f ffb2 fD ffSf ffbe

q^_Ro f2. fD f22 fHe ffHS fe

^_re f2S f2bD ffH fH ffDf ffH2

q^_re fHf f222 ffHf fS ffDf ffbf

L|it |L A@M*iG 4Mih Lu hiT*U@|L?t t fffc ,e t *ii*t |L| € i_ igiU|tc

} t |? }hLT 4i@? tU@*?}c Rr6A t Thit@4T*i 4i@? | A Thi t@4T*i

TihL_tc ^_RoEre t ^@t_gihi?Ui_ B @tt4?} %| t Thi_i|ih4?i_ Et|hU|*)

i L}i?Lt Ai ?t|h4i?| ti| uLh |i ^_ B it|4@|Lh ?U*_it |4i _44it

Ai €?@* ti| Lu hit*|t @hi uLh |i ^@t_gihi?Ui_ B it|4@|Lh tt4?} |@| |i %| @hi Thi_i|ih4?i_c @?_ tL L?*) t?} 4L4i?| UL?_|L?t Ee hit*|t ?

|i it|4@|it^_Ro@?_q^_Ro tt4?} |@| |i hi}hittLh t t|hU|*) i L}i?Ltc @?_ |ihiuLhi |*t?} |i *@h}ih ti| Lu 4L4i?| UL?_|L?t E hit*|t ? |i it|4@|it

^_re@?_q^_re Bi? |i @) |i _@|@ t }i?ih@|i_ |i t|hU| i L}i?i|) @tt4T|L?

46_{Xvlqj erwk zlwklq dqg suh0vdpsoh lqirupdwlrq wr frqvwuxfw wkh lqglylgxdo phdq ri wkh ghshqghqw}

yduldeoh lpsuryhv wkh shuirupdqfh ri wkh hvwlpdwru iru voljkwo|/ exw wkh eldv dqg UPVH ri wkh hvwlpdwru iru lqfuhdvh/ hvshfldoo| iru orz ydoxhv ri W dqg W S1

A@M*i e2G L?|i @h*L hit*|t uLh w?i@h 6ii_M@U! L_i*c A'H

' fD(q ' fD(4' fD( ' f(j2

# ' fD(j20 ' fD

' ff ' Dff ' fff

K@r o6re K@r o6re K@r o6re

,e f2S f2SH f2.e f2.D f2.H f2.b

q,e fDfe fS. fDfD fDSD fDDe fDS

} fHS fbD fHe fHS fHe fHD

q} f2D fef f2S f2b f2H f2b

Rr6H ff.e ffHb ffHe ffH. ffH. ffHH

qRr6H ffH fb ffH. ffbS ffHS ffbf

Rr62D ff2 ffDS ffe ffeS ffe ffeS

qRr62D ffD ffH2 ffb ffD ffb ffeD

Rr6Df ffD ffe. ff2 ff2 ff2D ff2b

qRr6Df ffH ff. ff22 ffH ff2 fff

^_Ro ff f. ffb. ffS ffDS ffSS

q^_Ro f2.H f2bf f. fe. ffb ff2

^_re fe. fDb ffD f ffSf ffSS

q^_re f2DS f2S f2 fH ff.2 ff.H

L|it |L A@M*iG 4Mih Lu hiT*U@|L?t t fffc ,e t *ii*t |L| € i_ igiU|tc

} t |? }hLT 4i@? tU@*?}c Rr6A t Thit@4T*i 4i@? | A Thi t@4T*i

TihL_tc ^_RoEre t ^@t_gihi?Ui_ B @tt4?} %| t Thi_i|ih4?i_ Et|hU|*)

i L}i?Lt Ai ?t|h4i?| ti| uLh |i ^_ B it|4@|Lh ?U*_it |4i _44it

t @*_ 6Lh ML| @*it LuA |i ^@t_gihi?Ui_ B it|4@|Lh t _L?@h_ M@ti_ uLh t4@** @*it Lu Ai M@t @?_ +5, _iUhi@ti i? |i t@4T*i t3i ?Uhi@titc

M| |i hit*|t @hi ih) t4*@h uLh A ' e @?_ A ' H Nt?} |i i |h@ 4L4i?|

UL?_|L?t _i |L |i t|hU| i L}i?i|) Lu |i hi}hittLh 4ThLit |i TihuLh4@?Ui Lu |i it|4@|Lh Luq M| ?L| Lu |@| Lu ,tTiU@**) i? A ' Hc ^_reTihuLh4t Lhti

|@? ^_Roc ML| ? |ih4t Lu M@t @?_ +5,

L4T@h?} |i B ^@t_gihi?Ui_ it|4@|it E^_Roc ^_re |L |i Thit@4T*i

4i@? it|4@|itc | MiUL4it U*i@h |@| uLh |t T@h|U*@h _@|@ }i?ih@|?} ThLUitt |i Thit@4T*i 4i@? it|4@|Lh L|TihuLh4t |i B ^@t_gihi?Ui_ it|4@|Lh ? @* 4Lt| @** U@titc ii? uLh @ ?4Mih Lu Thit@4T*i LMtih@|L?t @t t4@** @t H W? T@h |U*@hc |i ^@t_gihi?Ui_ B it|4@|Lh uLh |i *?i@h uii_M@U! 4L_i* tii4t |L tgih uhL4 @ TLLh t4@** t@4T*i TihuLh4@?Ui

Ai TihuLh4@?Ui Lu |i it|4@|Lht ? |i *?i@h uii_M@U! 4L_i* uLh %| ThLUittit

|@| @hi 4Lhi Tihtt|i?| Lih |4i @hi UL?t_ihi_ ?i | Ai T@h@4i|iht @hi ti| |L

k' f.c q ' c ' fc tL %| t ?L| ULhhi*@|i_ | # ? |t U@tic @?_ j#2 ' fD Ai

t@4T*i t3i t ' DffcA ' H AL _gihi?| ThLUittit uLh |i hi}hittLh @hi UL?t_ihi_c @ Tihtt|i?| ThLUitt | 4 ' fb @?_ j2

0 ' ffDc @?_ @? ii? 4Lhi Tihtt|i?| tihit

| 4' fbD @?_ j2

0 ' ffD @t @?_ +5, uLh |i it|4@|Lht uLh |iti |L _@|@

}i?ih@|?} ThLUittit @hi }i? ? A@M*i ec @}@? uLh fff hiT*U@|L?t `i? 4 ' fb @?_ j2

0 ' ffDc |i hit*|t @hi ih) t4*@h |L |Lti Thiti?|i_ ?

A@M*it e @?_ e2c | |i Thit@4T*i 4i@? it|4@|Lh L|TihuLh4?} |i ^@t _gihi?Ui_ B it|4@|Lh OLiihc |i M@t @?_ +5, uLh |i Thit@4T*i 4i@? it|4@|Lh Luq ?Uhi@ti i? |i%| tihit MiUL4i ih) Tihtt|i?|c i?4' fbD @?_

j2

0 ' ffD At t _i |L |i u@U| |@| |i ?uLh4@|L? UL?|@?i_ ? *?+R MiUL4it

4Lhi @?_ 4Lhi *!i |@| UL?|@?i_ ?%|i? |i%|ThLUitt MiUL4it 4Lhi Tihtt|i?|

AihiuLhic |i tiT@h@|i it|4@|L? Luq @?_ |i T@h@4i|ih L?+RMiUL4it ThLM*i4@|U

_i |L |i 4*|UL**?i@h|) t |i @h@?Ui Lu |i € i_ igiU|t # t hi*@|i*) *@h}ic

|i it|4@|L? Lu |i T@h@4i|ih L? +_R ** }i| @ *@h}ih i}|c | |i it|4@|i uLh

q M@ti_ |L@h_t 3ihL

Aihi t @ ih) tMt|@?|@* _L?@h_ M@t i? |i T@h@4i|iht @hi it|4@|i_ M) ^@t_gihi?Ui_ Bc @?_ |i ThLM*i4 Lu ?t|h4i?|?} |i _gihi?Ui_%|tihit M)

*@}}i_ @*it MiUL4it U*i@hc @t |i +5, Luq^_Ro t *@h}ic 4U *@h}ih |@? |Lti uLh |i Thit@4T*i 4i@? it|4@|Lh

A@M*i eG L?|i @h*L hit*|t uLh w?i@h 6ii_M@U! L_i*c Tihtt|i?| tihit

k ' f.(q ' ( ' f(j2

# ' fDc ' Dffc A ' H

4' fbf(j2

0 ' ffD 4' fbD(j02 ' ffD

K@r o6re K@r o6re

,eD fH fH2 fH fHe

q,eD fe feH f2eb fS

} f2eD f2e. f2. f2.2

q} fS. f.e fS fHf

Rr6H ffbe ffb. ffH ffHe

qRr6H ffbb feS fSS fH2

Rr62D ff.e ff.. ffSS ffSb

qRr62D ffDS ffe f2HS ff2

Rr6Df ffDS ffSf ffDD ffDb

qRr6Df ff2H ffHf fbD f2D

^_Ro f2H fe2 f2. feS

q^_Ro fe2. fDfD feD f.e

^_re fS f.2 fSf f.D

q^_re fee fS fe fSS

L|it |L A@M*iG 4Mih Lu hiT*U@|L?t t fffc ,e t *ii*t |L| € i_ igiU|tc

} t |? }hLT 4i@? tU@*?}c Rr6ErA t Thit@4T*i 4i@? EtU@*?} | A

Thi t@4T*i TihL_tc^_RoEre t ^@t_gihi?Ui_ B @tt4?} %| t Thi_i|ih4?i_

Et|hU|*) i L}i?Lt Ai ?t|h4i?| ti| uLh |i ^_ B it|4@|Lht ?U*_it |4i _44it

D ? TT*U@|L? |L |i +:# @?_ @|i?|t +i*@|L?tT

Ai _@|@ ti_ |L i @4?i |i ThLTih|it Lu |i @*|ih?@|i _)?@4U tTiU€U@|L?t @hi |i T@|i?|+:# T@?i* _@|@ Lu O@**c Bh*Uit @?_ O@t4@? EbHSe _{Ai _@|@}

UL?|@? ?uLh4@|L? L? +:# i Ti?_|hit Lu *@h}i N5 €h4t Mi|ii? b.2 @?_ b.b @?_ @ UL?| Lu T@|i?|t @TT*i_ uLh @?_ tMti^i?|*) }h@?|i_ Mi|ii? bSD @?_ b.b Ai €h4t ? |i _@|@ ti| @hi ef. €h4t uLh U |ihi t @ Thit@4T*i t|Lh) Lu |i _iTi?_i?| @h@M*iD

5L4i _itUhT|i t|@|t|Ut @?_ |i €ht| Lh_ih @|LULhhi*@|L?t Lu |i *?+:# @?_ T@|i?| tihit uLh |i |L }hLTt @hi }i? ? A@M*i D L| tihit @hi }*) @|Lhi }hitti

iuLhi Thiti?|?} |i it|4@|L? hit*|t uLh |i w6 tTiU€U@|L?c i }i @? iUL?L4U ?|ihThi|@|L? Lu |i *?i@h uii_M@U! 4L_i* ? |ih4t Lu |i +:#T@|i?|t @TT*U@|L? Ai hi*@|L?tT Mi?} it|4@|i_ Mi|ii? T@|i?|t @?_ +:# U@? Mi ? |ihThi|i_ @t @ !?L*i_}i ThL_U|L? u?U|L? _itUhM?} |i ThL_U|L? Lu T@|i?|t uhL4 Uhhi?| @?_ T@t| +:# ?it|4i?| t4T*i @) |L h|i |t hi*@|L?tT t

'|'}E-|c -|3c c qc D ED

ihi '| t tL4i *@|i?| 4i@thi Lu |iU?L*L}U@* L|T| Lu €h4 ? TihL_ |c -|

4i@thit |i ULhhitTL?_?} +:# ?it|4i?|c q hiThiti?|t |i iU|Lh Lu ?!?L?

|iU?L*L}) T@h@4i|iht @?_DU@T|hit |i €h4 tTiU€U ThLTi?t|) |L T@|i?| Mtihi_

T@|i?|tc |c @hi @ ?Lt) ?_U@|Lh Lu @ €h4<t |iU?L*L}U@* L|T|c

| ''|n0|c ED2

| .E0|m-|c -|3c c D ' f

47_{Wklv gdwd vhw lv ghvfulehg lq Erxqg hw do +4<;5, dqg ghulydwlyh gdwd vhwv kdyh ehhq xvhg lq pdq|}

dssolfdwlrqv lqfoxglqj Kdxvpdq/ Kdoo dqg Julolfkhv +4<;7,1

48_{Gxh wr d odujh khwhurjhqhlw| lq hvwlpdwhg frhflhqwv/ zh kdyh h{foxghg 6: upv iurp wkh %Pr0}

wruv2Dlufudiw% lqgxvwu|1

A@M*i DG Ai +:# @?_ @|i?|t #@|@

r €h4t ef.

*?+:# @|i?|t

i@? 2 D2D

5|_ #i HD .bfb

i|ii? 5|_ #i .bD ..b

`|? 5|_ #i f2H efb

i_@? 2S. S

?44 Heb f

@ 44 SSH2 bfS

hLTLh|L? Lu 3ihLt fDe

6ht| Lh_ih @|LULhhi*@|L? fb2D fHHe

ti ff2b ff.

Qrwhv wr Wdeoh= Wkh uvw rughu dxwrfruuhodwlrq hvwlpdwhg e| V|vwhp JPP wdnhv dffrxqw ri {hg hhfwv xvlqj wkh vwdfnhg olqhdu dqg glhuhqfhg JPP hvwlpdwru iru wkh phdq vwdwlrqdu| olqhdu g|qdplf huuru frpsrqhqwv prgho/ vhh Eoxqghoo dqg Erqg +4<<;,/ lqvwuxphqwv xvhg duh odjjhg ohyhov gdwhg w0m/11/w08 iru wkh glhuhqfhg htxdwlrq dqg odjjhg glhuhqfhv gdwhg w0m.4 iru wkh ohyhov htxdwlrq/ zkhuh m@5 iru wkh U)G vhulhv/ dqg m@6 iru wkh sdwhqw vhulhv1

5TTLti |@| t|LhU +:# ?it|4i?|t @hi UL4M?i_ |hL} @ LMM#L}*@t |iU?L*L}) |L ThL_Ui !?L*i_}i t|LU! W? |t U@ti ED MiUL4it

'| '-|q-|3q2 -|32q D ED

At 4L|@|it |i UL?_|L?@* 4i@? tTiU€U@|L? ? @ 4*|T*U@|i _t|hM|i_ *@} 4L_i*

.E+|m%|c %|3c c %|3Rc D ' i TE%|qn%|3q2nn%|3RqRnD EDe

ihi+| ULhhitTL?_t |L | @?_ %| |L *?-| At t |i t|@?_@h_ 4L_i* ti_ ? |i

+:#T@|i?|t *|ih@|hiS

49_{Iru dq hydoxdwlrq ri wklv prgho vhh Eoxqghoo/ Julwk dqg Ydq Uhhqhq +4<<8,/ dqg Eoxqghoo/}

Julwk dqg Zlqgphlmhu +4<<<,1

Wu |ihi t *4|i_ t|Lh) L? +:# ? |i _@|@ Lh |i +:# tihit @hi }*) Tihtt |i?| tL |@| |i tihit Lu *@}}i_ @*it Lu -|3 @hi UL**?i@hc |i @*|ih?@|i _)?@4U

tTiU€U@|L? Lu |i *?i@h uii_M@U! 4L_i* U@? Mi @||h@U|i AL ThL_i @? iUL?L4U 4L|@|L? uLh |i w6 tTiU€U@|L? Ec UL?t_ih h|?} |i hi*@|L?tT ED Mi|ii? T@|i?|t @?_ +:# @t

| '&

-q_|n EB-q_|3nD n0|c EDD

? U& t @ TLt|i UL?t|@?| @?_ ihi +:# ?it|4i?| _iThiU@|it i TL?i?|@**) @| h@|i B 5i||?} q  @**Lt uLh @ _iUhi@t?} hi|h? |L |? TihL_ ?it|4i?| Ai _t|hM|i_ *@} |ih4 ? Mh@U!i|t hiThiti?|t |i ThLUitt M) U T@|i?|t @hi ThL_Ui_ uhL4 +:# ?T|t. _{W}?Lh?} @?) uii_M@U! uhL4 T@|i?|t |L +:# |i *L?}}

h? t|i@_) t|@|i uLh €h4 4@) Mi h||i?

' &_B-qDc EDS

tL |@|q 4@) Mi ?|ihThi|i_ @t |i *L?} h? i*@t|U|) W?ih|?} EDD i @i

|'&-q|Dn EB|3n|c ED.

? U .E|m-|c |3c D ' f #iTi?_?} L? |i tih@* ULhhi*@|L? t|hU|hi Lu 0|c

|i ThLUitt uLh | 4@) _tT*@) tL4i @|LULhhi*@|L? ,^@|L? ED. t i^@*i?| |L

|i w6 4L_i* }i? ? E ? U |i @|Lhi}hitti ULiUi?| it|4@|it |i

_iThiU@|L? u@U|Lh EB @?_ |i *L?} h? i*@t|U|) t }i? M)q

+it*|t uLh |i w?i@h 6ii_M@U! L_i* @hi Thiti?|i_ ? A@M*i D2 Ai *ii*t it| 4@|L? ThLUi_hi |@| _Lit ?L| |@!i @UUL?| Lu € i_ igiU|t hit*|t ? ULiUi?|t L? |i *@}}i_ _iTi?_i?| @h@M*i @?_ *?-:( Lu fHb @?_ fbf hitTiU|i*) W? UL?|h@t|c

|i |? }hLTt 4i@? tU@*?} it|4@|it @hi 4U *Lihc fe @?_ fe hitTiU|i*)

4:_{Iru h{dpsoh/ xvlqj d vshflf sdudphwhulvdwlrq ri wkh FHV surgxfwlrq ixqfwlrq zkhuh +814, eh0}

frphv

Tlw@ n+Ulw. +4 , Ulw4. ===, # _l=

Vhwwlqj wkh uhwxuqv wr vfdoh sdudphwhu # htxdo wr dqg xvlqj +815, uhvxowv lq +818,1

A@M*i D2G +it*|t uLh |i w?i@h 6ii_M@U! L_i*

E E2 E Ee ED

wii*t `|? 5 "#E "#E

@|3 fHb 31363 fe 31388 fHe 31364 fb2 3137: f2D 313;8

*?-:( fHbH 3139< fe2 313:8 fDfS 3147; ff 313;8 f. 31386

5@h}@?+s, H.fD +31336,

Qrwhv wr Wdeoh= Wkh prgho lqfoxghv |hdu gxpplhv1 Vwdqgdug huuruv duh vkrzq lq vpdoo irqw dqg doorz iru d jhqhudo fryduldqfh pdwul{ ryhu upv dqg wlph1 Ohyhov* lv wkh hvwlpdwru vroylqj vdpsoh prphqwv +714, / qrw wdnlqj dffrxqw ri lqglylgxdo hhfwv1 cZlwklq* lv zlwklq jurxs phdq vfdolqj/ vroylqj +715,1 SVP lv suh0vdpsoh phdq/ dqg TG lv txdvl0glhuhqfhg JPP1 Wkh suh0vdpsoh phdq ri Sdw xvhv wkh |hduv 4<980:411 Lqvwuxphqwv lq froxpq +7,/ TG+D,/ duh +4/+|32c c +/%|3c c %,/ lq froxpq +8,/ TG+E, wkh| duh +wlph gxpplhv/{+|3/{%|,11

Vdujdq lv wkh vwdqgdug2 _{whvw iru ryhulghqwli|lqj uhvwulfwlrqv}

W? |t _)?@4U 4L_i* | € i_ igiU|t i i TiU| |i *ii*t it|4@|it |L Mi M@ti_ T@h_tc @?_ |i |? }hLTt it|4@|it |L Mi _L?@h_ M@ti_c @t @t UL?€h4i_ M) |i hit*|t Lu |i L?|i @h*L t4*@|L?t L?} ?i | |L |i hit*|t Lu |i it|4@|Lh |@| |*ti |i @@*@M*i Thit@4T*i ?uLh4@|L? L? T@|i?|tc i €?_ |@| uLh |i Thit@4T*i 4i@? it|4@|Lh |i it|4@|i_ ULiUi?|t *i ?Mi|ii? |i *ii*t @?_ |? it|4@|itc | |i ULiUi?| L? |i *@}}i_ _iTi?_i?| @h@M*i i^@* |L fHe @?_ |@| L? *?-:( i^@* |L fD ** |iti hit*|tc ? |ih4t Lu |i _hiU|L? Lu |i M@titc @hi ih) t4*@h |L |i L?|i @h*L hit*|t | Tihtt|i?|%| tihitc |

4' fbc @t _tT*@)i_ ? A@M*i e

Ai hit*|t Lu |i 5 it|4@|Lh @i @ ti?tM*i iUL?L4U ?|ihThi|@|L? Ai) 4T*) |@| |i _iThiU@|L? h@|i Lu T@|i?|t t @TThL 4@|i*) DI @?_ ?_U@|i |@| |i tLh| h? i*@t|U|) Lu T@|i?|t | hitTiU| |L +:# t @TThL 4@|i*) Eq ' ffHc ihi@t |i *L?} h? i*@t|U|)c }?Lh?} uii_M@U!c t @TThL 4@|i*) fD At 4T*it @ 4U t*Lih 4L?} @_t|4i?| ThLUitt |@? |@| 4T*i_ M) |i hit*|t

Lu @ 4*|T*U@|i _t|hM|i_ *@} 4L_i* |@| @i ThiLt*) Mii? hiTLh|i_ ? |i *|ih@|hi

Ai hit*|t Lu |i ^@t_gihi?Ui_ B it|4@|Lh @t _tT*@)i_ ? UL*4? EDc

@tt4?} |@| *?-:(t Thi_i|ih4?i_c tii4 T33*?} Ai ULiUi?| L? |i *@}}i_

_iTi?_i?| @h@M*i t ?i}@|icihi@t |i ULiUi?| L? *?-:(c @*|L} TLt|ic

t ?L| t}?€U@?|*) _gihi?| uhL4 3ihL Ai ttTUL? |@| |iti hit*|t @hti _i |L

@ i@! ?t|h4i?|t ThLM*i4 @t ML| |i T@|i?|t @?_ |i *?-:( tihit @hi }*)

Tihtt|i?|c t UL?€h4i_ M) |i hit*|t ? UL*4? EDc ihi |i {+|3 @?_ {%|

|i4ti*it @hi ti_ @t |i L?*) ?t|h4i?|t Ai it|4@|it Lu |i ULiUi?| L? *@}}i_ T@|i?|t @hi @*4Lt| _i?|U@*c @?_ |i ULiUi?| L? *?-:(t @}@? ih) t4@**c @*|L} *@h}ih |@? ? UL*4? Ee At t U*i@h*) @? ?_U@|L? |@| |i ?t|h4i?|t @hi Eih) i@!*) ULhhi*@|i_ | |i i?_L}i?Lt @h@M*it ? |i ^@t_gihi?Ui_ 4L_i*H

S 544@h) @?_ L?U*tL?t

`i @i tL? |@| uLh t|@?_@h_ UL?| T@?i* _@|@ 4L_i*t | ULhhi*@|i_ € i_ igiU|t @?_ t|hU|*) i L}i?Lt hi}hittLhtc |i LttL? 4@ 44 *!i*LL_ it|4@|Lh uLh |i t*LTi T@h@4i|iht ? @ 4L_i* | ?__@* UL?t|@?|t t UL?tt|i?|c |i t@4i @t |i UL?_|L?@* 4@ 44 *!i*LL_ it|4@|Lhc @?_ i^@*i?| |L @ |? }hLTt 4i@? tU@*?} it|4@|Lh At it|4@|Lh t ?UL?tt|i?| i? hi}hittLht @hi Thi_i|ih4?i_

At T@Tih @t ThLTLti_ @ Thit@4T*i 4i@? it|4@|Lh uLh UL?| T@?i* _@|@ 4L_ i*t At it|4@|Lh i |i?_t |i ti| Lu T@?i* _@|@ it|4@|Lht |L ULih |i U@ti ihi |ihi t @__|L?@* t|LhU ?uLh4@|L? L? |i _iTi?_i?| @h@M*i At t @ UL44L? LUUhhi?Ui ? 4@?) _@|@ ti|t @?_ t i i4T*€i_ ? |i T@|i?| UL?| @?_ +:# _@|@ uLh |i N5 ihi hiULh_i_ T@|i?| UL?|t i |i?_ M@U! Lih @ *L?} TihL_ MiuLhi +:#

4;_{Dowkrxjk wkh Vdujdq whvw lqglfdwhv wkdw wkh prgho lv plvvshflhg/ rwkhu prgho vshflfdwlrqv/}

iru h{dpsoh lqfoxglqj ixuwkhu odjv ri sdwhqwv/ ru xvlqj glhuhqw prphqw frqglwlrqv wkdw doorz iru srvvleoh hqgrjhqhlw| ri oqU)G dqg2ru phdvxuhphqw huuru lq sdwhqwv gr qrw dowhu wkh uhvxowv1 Iru vxejurxsv ri upv/ wkh Vdujdq whvw grhv qrw uhmhfw lqvwuxphqw ydolglw|/ zkhuhdv frhflhqw hvwlpdwhv gr qrw fkdqjh1

i Ti?_|hi t @@*@M*i Ai Thit@4T*i it|4@|Lh _ii*LTi_ ? |i T@Tih t tL? |L Mi @? @||h@U|i @*|ih?@|i |L t|@?_@h_ it|4@|Lht i? |ihi @hi ULhhi*@|i_ ? __@* igiU|t @?_ Thi_i|ih4?i_ hi}hittLht W| t tL? |L Mi UL?tt|i?| uLh *@h}i Thit@4T*i t3i W? L?|i@h*L t4*@|L?t | t tL? |L TihuLh4 i** ? UL4T@htL? |L @ ^@t_gihi?Ui_ B it|4@|Lh itTiU@**) i? |i ?_ih*)?} ThLUittit @hi }*) Tihtt|i?|

Ai T@Tih @t _ii*LTi_ |i *?i@h uii_M@U! uh@4iLh! uLh |i U@ti Lu _)?@4U UL?| _@|@ 4L_i*t UL44L?*) ti_ _)?@4U tTiU€U@|L? uLh UL?| _@|@ t |i 4*|T*U@|i _t|hM|i_ *@} 4L_i*c ihi *@}t Lu |i hi}hittLht i?|ih |i i TL?i?|@* 4i@? u?U|L? W? UL?|h@t|c uLh |i *?i@h uii_M@U! 4L_i*c |i *@}}i_ _iTi?_i?| UL?| @h@M*i i?|iht |i UL?_|L?@* 4i@? tTiU€U@|L? *?i@h*) Ai Thit@4T*i it|4@|Lh t |i? i |i?_i_ |L ULih |i *?i@h uii_M@U! 4L_i* W? @ L?|i @h*L t|_) | t @*tL tL? |@|c uLh hi@tL?@M*i Thit@4T*i t3itc |i it|4@|Lh L|TihuLh4t t|@?_@h_ it|4@|Lht ? |ih4t Lu M@t @?_ hLL| 4i@? t^@hi_ ihhLh

Ai 4L_i* @?_ it|4@|Lht @i Mii? @TT*i_ |L @ i** !?L? _@|@ ti| Lu N5 T@|i?|t @?_ +:# i Ti?_|hi Ai ThLTLti_ Thit@4T*i 4i@? it|4@|Lh TihuLh4t i** ? UL4T@htL? |L @*|ih?@|it |@| ti |i ^@t_gihi?U?} @TThL@U At t i T*@?i_ M) @? i @4?@|L? Lu |i ThLTih|it Lu |i 4L_i* @?_ _@|@ ? |i *}| Lu |i hit*|t uhL4 |i L?|i@h*L t4*@|L? Ai it|4@|it Lu |i *?i@h uii_M@U! 4L_i* it|4@|i_ M) |i Thit@4T*i 4i@? it|4@|Lh ?_U@|i |@| |i @_t|4i?| ThLUitt t 4U t*Lih 4L?} |@? @t ThiLt*) Mii? uL?_

+iuihi?Uit

do ?c 5 @?_ 5U4_| EbbD ,Ui?| ,t|4@|L? Lu L_i*t uLh #)?@4U @?i* #@|@<c aLh?@* Lu ,UL?L4i|hUtc SHc D2H

d2o *tc c @?_ *3@_ EbH. 6ht|h_ih W?|i}ih V@*i_ |Lhi}hitti EW+E hLUitt<caLh?@* Lu A4i 5ihit ?@*)ttc Hc 2S2.D

do *3@_c c @?_  *t Ebbf W?|i}ihV@*i_ T| h_ih |Lhi}hitti

5|hU|hi EW+ET hLUitt<c aLh?@* Lu TT*i_ hLM@M*|)c 2.c e2e

deo hi**@?Lc c @?_ 5 L?_ Ebb 5L4i Ait|t Lu 5TiU€U@|L? uLh @?i* #@|@G

L?|i @h*L ,_i?Ui @?_ @? TT*U@|L? |L ,4T*L)4i?| ,^@|L?t<c +ii Lu

,UL?L4U 5|_itc DHc 2..bH

dDo *?_i**c +c @?_ 5 L?_ EbbH W?|@* L?_|L?t @?_ L4i?| +it|hU|L?t ? #)?@4U @?i* #@|@ L_i*t<c aLh?@* Lu ,UL?L4i|hUtcH.c Dee

dSo *?_i**c +c + Bh|c @?_ a @? +ii?i? EbbD #)?@4U L?| #@|@ L_i*t Lu AiU?L*L}U@* W??L@|L?<cAi ,UL?L4U aLh?@*c fDc ee

d.o *?_i**c +c + Bh|c @?_ 6 `?_4iih Ebbb W?__@* ,giU|t @?_ #) ?@4Ut ? L?| #@|@ L_i*t<c W?t|||i uLh 6tU@* 5|_it `Lh!?} @Tih L `bb%c ||TG%%utLh}!%hiti@hU%Lh!?}T@Tiht%Tbb

dHo L?_c a 44?tc ~ Bh*Uitc O O@** @?_ a@gi EbH2 `L _Lit

+:# @?_ L T@|i?|tq ? +:#c @|i?|t @?_ hL_U||)c ~ Bh*Uit Ei_

U@}LG N?iht|) Lu U@}L hitt

dbo LU!i?L*|c N Ebbb  i_ W+E LttL? +i}hittL? L_i*tG ?@*)3?} Oi|ihL}i?i|) @?_ 5ih@* #iTi?_i?Uit ? wL?}|_?@* L?| #@|@<c aLh?@* Lu ,UL?L4i|hUtc Hbc .H

dfo h@??@tc k Ebbe ,t|4@|L? @?_ Ait|?} ? W?|i}ih V@*i_ +E L_i*t<c N4iJ@ ,UL?L4U 5|_it @Tih L Dc #iT@h|4i?| Lu ,UL?L4Utc N?iht|) Lu N4iJ@c 6iMh@h)

do @4ihL?c c @?_ Ahi_ EbHS ,UL?L4i|hU L_i*t @ti_ L? L?| #@|@G L4T@htL?t @?_ TT*U@|L?t Lu 5L4i ,t|4@|Lht @?_ Ait|t<caLh?@* Lu TT*i_ ,UL?L4i|hUtc c 2bD

d2o @4Mih*@?c B EbHe @?i* #@|@< ?G Bh*Uitc ~c @?_  W?|h*}@|Lh Ei_tc

O@?_MLL! Lu ,UL?L4i|hUtc Lh| OL**@?_c 4t|ih_@4

do @4Mih*@?c B Ebb2 L44i?|G 5i^i?|@* L4i?| +it|hU|L?t ? @?i* #@|@<caLh?@* Lu t?itt : ,UL?L4U 5|@|t|Utc fc 2f2S

deo @4Mih*@?c B Ebb 6ii_M@U! ? @?i* #@|@ L_i*t<c 44iLc ,UL?L4i|hU

5LUi|) 544ih ii|?}c Lt|L?c a?i

dDo ?Uih@c  Ebb. @|i?|tc +:#c @?_ AiU?L*L}U@* 5T**Liht @| |i 6h4

wii*G 5L4i ,_i?Ui uhL4 ,UL?L4i|hU L?| L_i*t uLh @?i* #@|@c aLh?@*

Lu TT*i_ ,UL?L4i|hUtc 2c 2SD2Hf

dSo h‚iTL?c @?_ , #}i| Ebb. ,t|4@|?} |i W??L@|L? 6?U|L? uhL4

@|i?| 4MihtG B L? L?| @?i* #@|@c aLh?@* Lu TT*i_ ,UL?L4i|

hUtc 2c 2e2S

d.o BLhihL c c L?uLh|c @?_ AhL}?L? EbHe ti_L @ 44 w!i*LL_ i|L_tG TT*U@|L?t |L LttL? L_i*t<c,UL?L4i|hU@c D2c .f.2f

dHo O@**c c ~ Bh*Uitc @?_ a O@t4@? EbHS @|i?|t @?_ + @?_ #G Wt Aihi @ w@}q<cW?|ih?@|L?@* ,UL?L4U +iic 2.c 2SD2H

dbo O@?ti?c w EbH2 w@h}i 5@4T*i hLTih|it Lu Bi?ih@*3i_ i|L_ Lu L4i?|t ,t|4@|Lht<c ,UL?L4i|hU@c Dfc f2bfDe

d2fo O@t4@?c ac O@**c @?_ ~ Bh*Uit EbHe ,UL?L4i|hU L_i*t uLh L?| #@|@ @?_ @? TT*U@|L? |L |i @|i?|t+:# +i*@|L?tT< ,UL?L4i|hU@c D2c bfbbH

d2o OL*|3,@!?c #c ` ii)c @?_ O +Lti? EbHH ,t|4@|?} ViU|Lh |Lhi}hit tL?t | @?i* #@|@<c ,UL?L4i|hU@c DSc .bD

d22o a?B@?c #c @?_ w v@? Ebb Ai W?|i}ihV@*i_ |Lhi}hitti EW+ET

L_i*<aLh?@* Lu A4i 5ihit ?@*)ttc 2c 2be2

d2o w@?U@t|ihc A Ebb.c h|L}L?@* @h@4i|iht @?_ @?i* #@|@c 44iLc hL? N?iht|)

d2eo Uki?3ic , EbHH 5L4i + L_i*t uLh #iTi?_i?| 5i^i?Uit Lu LttL? L?|t<c _@?Uit ? TT*i_ hLM@M*|)c 2fc H22HD

d2Do U**@}c c @?_ i*_ihc a EbHbc Bi?ih@*3i_ w?i@h L_i*tc @T4@?

@?_ O@**c L?L}h@Tt L? 5|@|t|Ut @?_ TT*i_ hLM@M*|) .

d2So L?|@*Lc aB Ebb. B ,t|4@|L? Lu L?|@?i*#@|@ L_i*t | 6 i_ ,giU|t @?_ hi_i|ih4?i_ W?t|h4i?|t<c aLh?@* Lu t?itt @?_ ,UL ?L4U 5|@|t|Utc Dc H2Hb

d2.o U!i**c 5a EbH @tit ? #)?@4U L_i*t | 6 i_ ,giU|t<c,UL?L4i|hU@c bc DbH2

d2Ho @||c kc  +LMtL? @?_ a AL?ti?_ EbH. Ai 53i #t|hM|L? Lu W??L @|?} 6h4t ? |i NkG beDH<c aLh?@* Lu W?_t|h@* ,UL?L4Utc Dc 2b.S

d2bo +L???}c Bc @?_ + a?} Ebb2 ,t|4@|L? Lu @ 6ht| h_ih |Lhi}hitti hLUitt | LttL? @h}?@*t uLh L?| #@|@<c ?G 6@h4ihc wc 6h@?Utc + B*Uht|c @?_ B A|3 Ei_tc _@?Uit ? BwW @?_ 5|@|t|U@* L_i**?}<c

wiU|hi L|it ? 5|@|t|Utc .Hc HHbec 5Th?}ihVih*@}c ih*?

dfo 5|@}ihc # @?_ aO 5|LU! Ebb.c W?t|h4i?|@* V@h@M*it +i}hittL? | `i@! W?t|h4i?|tc ,UL?L4i|hU@c SDc DD.DHS

do `?_4iihc 6 E2fffc L4i?| L?_|L?t uLh 6 i_ ,giU|t L?| #@|@ L_i*t | ,?_L}i?Lt +i}hittLht<c ,UL?L4Ut wi||ihtSHc 22e

d2o `?!i*4@??c + Ebb.c ,UL?L4i|hU ?@*)tt Lu L?| #@|@c 2?_ ,_|L?c

5Th?}ihc Oi_i*Mih}

do `LL*_h_}ic a Ebb *|T*U@|i @?i* #@|@ L_i*t |L| |i 5|hU| , L}i?i|) tt4T|L?<c WA `Lh!?} @Tih L D.e

deo `LL*_h_}ic a Ebb. *|T*U@|i @?i* #@|@ L_i*t |L| |i 5|hU| , L}i?i|) tt4T|L?<c,UL?L4i|hU AiLh)c c SS.S.H