Soft X-ray transients (SXTs), a sub-class of low-mass X-ray binaries (LMXBs), provide a unique opportunity to test General Relativity and to probe fundamental physics under conditions terrestrially unattainable. SXT outbursts are of great interest because they allow the study of LMXBs under a wide range of accretion rates. The majority of known SXTs contain black holes, therefore SXT outbursts are key to understanding accretion physics around black holes and in active galactic nuclei, which are thought to contain supermassive, M ∼ 10 6 − 10 10 M , where M is one solar mass), central compact objects. These compact objects are most likely black holes, which exhibit, on a much larger scale, accretion physics similar to that around black holes in SXTs.In this work, the timing and spectral properties of the SXT and microquasar XTE J1550-564 during outburst are studied. Observations made by the Unconventional Stellar Aspect (USA) Experiment on board the Advanced Research and Global Observation Satellite (ARGOS) are emphasized. USA data show a low-frequency quasi-periodic oscillation (LFQPO) with a centroid frequency that tends to increase with increasing USA flux and a fractional rms amplitude which is correlated with the USA hardness ratio (4-16 keV/1-4 keV). Several high-frequency quasi-periodic oscillations (HFQPOs) were detected by the Rossi X-ray Timing Explorer (RXTE), during periods where the LFQPO is seen to be weakening or not detectable at all.The evolution of the USA hardness ratio with time and source flux is examined.The hardness-intensity diagram shows counterclockwise cyclical evolution and possibly indicates the presence of two independent accretion flows: a geometrically thin, optically thick accretion disk and a hot sub-Keplerian flow.A model for production of the LFQPO in XTE J1550-564 is proposed, assuming that the LFQPO is a result of acoustic oscillations in a hot sub-Keplerian transition layer (TL). Under this acoustic oscillation model (AOM), the TL is an acoustic cavity having an outer boundary at the transition layer radius, R TL , where R TL ≈ R inner , with iii R inner being the radius of the accretion disk inner edge. TL resonance is interpreted as a mechanism for the LFQPO and the eigenfrequencies are associated with the LFQPO frequencies, ν LFQPO . This LFQPO mechanism requires the presence of a TL, capable of inverse-Compton scattering, with an outer boundary radius (i.e. R TL ) regulated by a cool Keplerian accretion disk. Support for the AOM is provided by the correlation of the LFQPO percent rms amplitude with the USA hardness ratio, and other correlations and anti-correlations found in the USA, RXTE and Burst And Transient Source Experiment (BATSE) observations of the 1998-1999 and 2000 outbursts. An anti-correlation in the LFQPO percent rms amplitude squared with low energy photons ( 20 keV) from RXTE and USA data, and a correlation with higher energy photons ( 20 keV) from BATSE data are observed during the XTE J1550-564 outbursts.These trends in the LFQPO data show that the LFQPO ...