6.5. Modelling Exercises. Introduction. Prerequisites. Learning Outcomes

Size: px
Start display at page:

Download "6.5. Modelling Exercises. Introduction. Prerequisites. Learning Outcomes"

Transcription

1 Modelling Exercises 6.5 Inroducion This Secion provides examples and asks employing exponenial funcions and logarihmic funcions, such as growh and decay models which are imporan hroughou science and engineering. Prerequisies Before saring his Secion you should... Learning Oucomes On compleion you should be able o... be familiar wih he laws of logarihms have knowledge of logarihms o base 1 be able o solve equaions involving logarihms and exponenials develop exponenial growh and decay models 38 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

2 1. Exponenial increase Task (a) Look back a Secion 6. o review he definiions of an exponenial funcion and he exponenial funcion. (b) Lis examples in his Workbook of conexs in which exponenial funcions are appropriae. Your soluion Answer (a) (b) An exponenial funcion has he form y = a x where a >. T he exponenial funcion has he form y = e x where e = I is saed ha exponenial funcions are useful when modelling he shape of a hanging chain or rope under he effec of graviy or for modelling exponenial growh or decay. We will look a a specific example of he exponenial funcion used o model a populaion increase. Task Given ha P = 1e.1 ( 5) where P is he number in he populaion of a ciy in millions a ime in years answer hese quesions. (a) Wha does his model imply abou P when =? (b) (c) (d) (d) Wha is he saed upper limi of validiy of he model? Wha does he model imply abou values of P over ime? Wha does he model predic for P when = 1? Commen on his. Wha does he model predic for P when = 5? Commen on his. HELM (8): Secion 6.5: Modelling Exercises 39

3 Your soluion (a) (b) (c) (d) (e) Answer (a) A =, P = 1 which represens he iniial populaion of 1 million. (Recall ha e = 1.) (b) (c) (d) (e) The ime inerval during which he model is valid is saed as ( 5) so he model is inended o apply for 5 years. This is exponenial growh so P will increase from 1 million a an acceleraing rae. P (1) = 1e 1 33 million. This is geing very large for a ciy bu migh be aainable in 1 years and jus abou susainable. P (5) = 1e million. This is unrealisic for a ciy. Noe ha exponenial populaion growh of he form P = P e k means ha as becomes large and posiive, P becomes very large. Normally such a populaion model would be used o predic values of P for >, where = represens he presen or some fixed ime when he populaion is known. In Figure 6, values of P are shown for <. These correspond o exrapolaion of he model ino he pas. Noe ha as becomes increasingly negaive, P becomes very small bu is never zero or negaive because e k is posiive for all values of. The parameer k is called he insananeous fracional growh rae P P = 1e Figure 6: The funcion P = 1e.1 4 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

4 For he model P = 1e k we see ha k =.1 is unrealisic, and more realisic values would be k =.1 or k =.. These would be similar bu k=. implies a faser growh for > han k =.1. This is clear in he graphs for k =.1 and k =. in Figure 7. The funcions are ploed up o years o emphasize he increasing difference as increases. P 5 P = 1e. 5 P = 1e Figure 7: Comparison of he funcions P = 1e.1 and P = 1e. The exponenial funcion may be used in models for oher ypes of growh as well as populaion growh. A general form may be wrien y = ae bx a >, b >, c x d where a represens he value of y a x =. The value a is he inercep on he y-axis of a graphical represenaion of he funcion. The value b conrols he rae of growh and c and d represen limis on x. In he general form, a and b represen he parameers of he exponenial funcion which can be seleced o fi any given modelling siuaion where an exponenial funcion is appropriae.. Linearisaion of exponenial funcions This subsecion relaes o he descripion of log-linear plos covered in Secion 6.6. Frequenly in engineering, he quesion arises of how he parameers of an exponenial funcion migh be found from given daa. The mehod follows from he fac ha i is possible o undo he exponenial funcion and obain a linear funcion by means of he logarihmic funcion. Before showing he implicaions of his mehod, i may be necessary o remind you of some rules for manipulaing logarihms and exponenials. These are summarised in Table 1 on he nex page, which exacly maches he general lis provided in Key Poin 8 in Secion 6.3 (page.) HELM (8): Secion 6.5: Modelling Exercises 41

5 Table 1: Rules for manipulaing base e logarihms and exponenials Number Rule Number Rule 1a ln(xy) = ln(x) + ln(y) 1b e x e y = e x+y a ln(x/y) = ln(x) ln(y) b e x /e y = e x y 3a ln(x y ) = y ln(x) 3b (e x ) y = e xy 4a ln(e x ) = x 4b e ln(x) = x 5a ln(e) = 1 5b e 1 = e 6a ln(1) = 6b e = 1 We will ry undoing he exponenial in he paricular example P = 1e.1 We ake he naural logarihm (ln) of boh sides, which means logarihm o he base e. So ln(p ) = ln(1e.1 ) The resul of using Rule 1a in Table 1 is ln(p ) = ln(1) + ln(e.1 ). The naural logarihmic funcions undoes he exponenial funcion, so by Rule 4a, ln(e.1 ) =.1 and he original equaion for P becomes ln(p ) = ln(1) +.1. Compare his wih he general form of a linear funcion y = ax + b. y = ax + b ln(p ) =.1 + ln(1) If we regard ln(p ) as equivalen o y,.1 as equivalen o he consan a, as equivalen o x, and ln(1) as equivalen o he consan b, hen we can idenify a linear relaionship beween ln(p ) and. A plo of ln(p ) agains should resul in a sraigh line, of slope.1, which crosses he ln(p ) axis a ln(1). (Such a plo is called a log-linear or log-lin plo.) This is no paricularly ineresing here because we know he values 1 and.1 already. Suppose, hough, we wan o ry using he general form of he exponenial funcion P = ae b (c d) o creae a coninuous model for a populaion for which we have some discree daa. The firs hing o do is o ake logarihms of boh sides ln(p ) = ln(ae b ) Rule 1 from Table 1 hen gives ln(p ) = ln(a) + ln(e b ) (c d). (c d). Bu, by Rule 4a, ln(e b ) = b, so his means ha ln(p ) = ln(a) + b (c d). 4 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

6 So, given some populaion versus ime daa, for which you believe can be modelled by some version of he exponenial funcion, plo he naural logarihm of populaion agains ime. If he exponenial funcion is appropriae, he resuling daa poins should lie on or near a sraigh line. The slope of he sraigh line will give an esimae for b and he inercep wih he ln(p ) axis will give an esimae for ln(a). You will have carried ou a logarihmic ransformaion of he original daa for P. We say he original variaion has been linearised. A similar procedure will work also if any exponenial funcion raher han he base e exponenial funcion is used. For example, suppose ha we ry o use he funcion P = A B (C D), where A and B are consan parameers o be derived from he given daa. We can ake naural logarihms again o give ln(p ) = ln(a B ) Rule 1a from Table 1 hen gives ln(p ) = ln(a) + ln( B ) Rule 3a hen gives and so ln( B ) = B ln() = B ln() ln(p ) = ln(a) + B ln() (C D). (C D). (C D). Again we have a sraigh line graph wih he same inercep as before, ln A, bu his ime wih slope B ln(). Task The amoun of money M o which 1 grows afer earning ineres of 5% p.a. for N years is worked ou as M = 1.5 N Find a linearised form of his equaion. Your soluion Answer Take naural logarihms of boh sides. ln(m) = ln(1.5 N ). Rule 3b gives ln(m) = N ln(1.5). So a plo of ln(m) agains N would be a sraigh line passing hrough (, ) wih slope ln(1.5). HELM (8): Secion 6.5: Modelling Exercises 43

7 The linearisaion procedure also works if logarihms oher han naural logarihms are used. We sar again wih P = A B (C D). and will ake logarihms o base 1 insead of naural logarihms. Table presens he laws of logarihms and indices (based on Key Poin 8 page ) inerpreed for log 1. Table : Rules for manipulaing base 1 logarihms and exponenials Number Rule Number Rule 1a log 1 (AB) = log 1 A + log 1 B 1b 1 A 1 B = 1 A+B a log 1 (A/B) = log 1 A log 1 B b 1 A /1 B = 1 A B 3a log 1 (A k ) = k log 1 A 3b (1 A ) k = 1 ka 4a log 1 (1 A ) = A 4b 1 log 1 A = A 5a log 1 1 = 1 5b 1 1 = 1 6a log 1 1 = 6b 1 = 1 Taking logs of P = A B gives: log 1 (P ) = log 1 (A B ) Rule 1a from Table hen gives log 1 (P ) = log 1 (A) + log 1 ( B ) Use of Rule 3a gives he resul log 1 (P ) = log 1 (A) + B log 1 () (C D). (C D). (C D). Task (a) (b) Wrie down he sraigh line funcion corresponding o aking logarihms of he general exponenial funcion P = ae b (c d) by aking logarihms o base 1. Wrie down he slope of his line. Your soluion Answer (a) log 1 (P ) = log 1 (a) + (b log 1 (e)) (c d) (b) b log 1 (e) I is no usually necessary o declare he subscrip 1 when indicaing logarihms o base 1. If you mee he erm log i will probably imply o he base 1. In he remainder of his Secion, he subscrip 1 is dropped where log 1 is implied. 44 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

8 3. Exponenial decrease Consider he value, D, of a car subjec o depreciaion, in erms of he age A years of he car. The car was bough for 15. The funcion D = 15e.5A ( A 6) could be considered appropriae on he ground ha (a) D had a fixed value of 15 when A =, (b) D decreases as A increases and (c) D decreases faser when A is small han when A is large. A plo of his funcion is shown in Figure D pounds A years Figure 8: Plo of car depreciaion over 6 years Task Produce he linearised model of D = 15e.5A. Your soluion Answer ln D = ln 15 + ln(e.5a ) so ln D = ln 15.5A HELM (8): Secion 6.5: Modelling Exercises 45

9 Engineering Example Exponenial decay of sound inensiy Inroducion The rae a which a quaniy decays is imporan in many branches of engineering and science. A paricular example of his is exponenial decay. Ideally he sound level in a room where here are subsanial conribuions from reflecions a he walls, floor and ceiling will decay exponenially once he source of sound is sopped. The decay in he sound inensiy is due o absorbion of sound a he room surfaces and air absorpion alhough he laer is significan only when he room is very large. The conribuions from reflecion are known as reverberaion. A measuremen of reverberaion in a room of known volume and surface area can be used o indicae he amoun of absorpion. Problem in words As par of an emergency es of he acousics of a concer hall during an orchesral rehearsal, consulans asked he principal rombone o play a single noe a maximum volume. Once he sound had reached is maximum inensiy he player sopped and he sound inensiy was measured for he nex. seconds a regular inervals of. seconds. The iniial maximum inensiy a ime was 1. The readings were as follows: ime inensiy Draw a graph of inensiy agains ime and, assuming ha he relaionship is exponenial, find a funcion which expresses he relaionship beween inensiy and ime. Mahemaical saemen of problem If he relaionship is exponenial hen i will be a funcion of he form I = I 1 k and a log-linear graph of he values should lie on a sraigh line. Therefore we can plo he values and find he gradien and he inercep of he resuling sraigh-line graph in order o find he values for I and k. k is he gradien of he log-linear graph i.e. k = change in log 1 (inensiy) change in ime and I is found from where he graph crosses he verical axis log 1 (I ) = c Mahemaical analysis Figure 9(a) shows he graph of inensiy agains ime. 46 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

10 We calculae he log 1 (inensiy) o creae he able below: ime log 1 (inensiy) Figure 9(b) shows he graph of log (inensiy) agains ime. Inensiy Log(Inensiy) (, ) 1 (.,.) (a).1. Time (b).1. Time Figure 9: (a) Graph of sound inensiy agains ime (b) Graph of log 1 (inensiy) agains ime and a line fied by eye o he daa. The line goes hrough he poins (, ) and (.,.). We can see ha he second graph is approximaely a sraigh line and herefore we can assume ha he relaionship beween he inensiy and ime is exponenial and can be expressed as I = I 1 k. The log 1 of his gives log 1 (I) = log 1 (I ) + k. From he graph (b) we can measure he gradien, k using k = change in log 1 (inensiy) change in ime giving k =.. = 11 The poin a which i crosses he verical axis gives log 1 (I ) = I = 1 = 1 Therefore he expression I = I 1 k becomes I = 1 11 Inerpreaion The daa recorded for he sound inensiy fi exponenial decaying wih ime. log-linear plo o obain he approximae funcion: I = 1 11 We have used a HELM (8): Secion 6.5: Modelling Exercises 47

11 4. Growh and decay o a limi Consider a funcion inended o represen he speed of a parachuis afer he opening of he parachue where v m s 1 is he insananous speed a ime s. An appropriae funcion is v = 1 8e 1.5 ( ), We will look a some of he properies and modelling implicaions of his funcion. Consider firs he value of v when = : v = 1 8e = 1 8 = 4 This means he funcion predics ha he parachuis is moving a 4 m s 1 when he parachue opens. Consider nex he value of v when is arbirarily large. For such a value of, 8e 1.5 would be arbirarily small, so v would be very close o he value 1. The modelling inerpreaion of his is ha evenually he speed becomes very close o a consan value, 1 m s 1 which will be mainained unil he parachuis lands. The seady speed which is approached by he parachuis (or anyhing else falling agains air resisance) is called he erminal velociy. The parachue, of course, is designed o ensure ha he erminal velociy is sufficienly low (1 m s 1 in he specific case we have looked a here) o give a reasonably genle landing and avoid injury. Now consider wha happens as increases from near zero. When is near zero, he speed will be near 4 m s 1. The amoun being subraced from 1, hrough he erm 8e 1.5, is close o 8 because e = 1. As increases he value of 8e 1.5 decreases fairly rapidly a firs and hen more gradually unil v is very nearly 1. This is skeched in Figure 1. In fac v is never equal o 1 bu ges impercepibly close as anyone would like as increases. The value shown as a horizonal broken line in Figure 1 is called an asympoic limi for v. 15 v (m s 1 ) (s) Figure 1: Graph of a parachuis s speed agains ime The model concerned he approach of a parachuis s velociy o erminal velociy bu he kind of behaviour porrayed by he resuling funcion is useful generally in modelling any growh o a limi. A general form of his ype of growh-o-a-limi funcion is y = a be kx (C x D) where a, b and k are posiive consans (parameers) and C and D represen values of he independen variable beween which he funcion is valid. We will now check on he properies of his general funcion. When x =, y = a be = a b. As x increases he exponenial facor e kx ges smaller, so y will increase from he value a b bu a an ever-decreasing rae. As be kx becomes very small, 48 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

12 y, approaches he value a. This value represens he limi, owards which y grows. If a funcion of his general form was being used o creae a model of populaion growh o a limi, hen a would represen he limiing populaion, and a b would represen he saring populaion. There are hree parameers, a, b, and k in he general form. Knowledge of he iniial and limiing populaion only gives wo pieces of informaion. A value for he populaion a some non-zero ime is needed also o evaluae he hird parameer k. As an example we will obain a funcion o describe a food-limied bacerial culure ha has 3 cells when firs couned, has 6 cells afer 3 minues bu seems o have approached a limi of 4 cells afer 18 hours. We sar by assuming he general form of growh-o-a-limi funcion for he baceria populaion, wih ime measured in hours P = a be k ( 18). When = (he sar of couning), P = 3. Since he general form gives P = a b when =, his means ha a b = 3. The limi of P as ges large, according o he general form P = a b k, is a, so a = 4. From his and he value of a b, we deduce ha b = 37. Finally, we use he informaion ha P = 6 when (measuring ime in hours) =.5. Subsiuion in he general form gives 6 = 4 37e.5k 34 = 37e.5k = e.5k Taking naural logs of boh sides: ln ( ) =.5k so k = ln( ) =.1691 Noe, as a check, ha k urns ou o be posiive as required for a growh-o-a-limi behaviour. Finally he required funcion may be wrien P = 4 37e.1691 ( 18). As a check we should subsiue = 18 in his equaion. The resul is P = 384 which is close o he required value of 4. HELM (8): Secion 6.5: Modelling Exercises 49

13 Task Find a funcion ha could be used o model he growh of a populaion ha has a value of 3 when couns sar, reaches a value of 6 afer 1 year bu approaches a limi of 1 afer a period of 1 years. (a) Firs find he modelling equaion: Your soluion Answer Sar wih P = a be k ( 1). where P is he number of members of he populaion a ime years. The given daa requires ha a is 1 and ha a b = 3, so b = 9. The corresponding curve mus pass hrough ( = 1, P = 6) so 6 = 1 9e k e k = = 3 so e k = (e k ) = So he populaion funcion is ( ) P = 1 9 ( 1). 3 ( ) (using Rule 3b, Table 1, page 4) 3 Noe ha P (1) according o his formula is approximaely 1184, which is reasonably close o he required value of 1. (b) Now skech his funcion: 5 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

14 Your soluion Answer P (s) 5. Inverse square law decay Engineering Example 3 Inverse square law decay of elecromagneic power Inroducion Engineers are concerned wih using and inerceping many kinds of wave forms including elecromagneic, elasic and acousic waves. In many siuaions he inensiy of hese signals decreases wih he square of he disance. This is known as he inverse square law. The power received from a beacon anenna is expeced o conform o he inverse square law wih disance. Problem in words Check wheher he daa in he able below confirms ha he measured power obeys his behaviour wih disance. Power received, W Disance from anenna, m HELM (8): Secion 6.5: Modelling Exercises 51

15 Mahemaical saemen of problem Represen power by P and disance by r. To show ha he daa fi he funcion P = A r where A is a consan, plo log(p ) agains log(r) (or plo he raw daa on log-log axes) and check (a) how close he resuling graph is o ha of a sraigh line (b) how close he slope is o. Mahemaical analysis The values corresponding o log(p ) and log(r) are log(p ) log(r) These are ploed in Figure 11 and i is clear ha hey lie close o a sraigh line..5 1 log(p ) log(r) Figure 11 The slope of a line hrough he firs and hird poins can be found from (.48).499 =.35 The negaive value means ha he line slopes downwards for increasing r. I would have been possible o use any pair of poins o obain a suiable line bu noe ha he las poin is leas in line wih he ohers. Taking logarihms of he equaion P = A gives log(p ) = log(a) n log(r) rn The inverse square law corresponds o n =. In his case he daa yield n =.35. Where log(r) =, log(p ) = log(a). This means ha he inercep of he line wih he log(p ) axis gives he value of log(a) =.48. So A = 1.48 =.393. Inerpreaion If he power decreases wih disance according o he inverse square law, hen he slope of he line should be. The calculaed value of n =.35 is sufficienly close o confirm he inverse square law. The values of A and n calculaed from he daa imply ha P varies wih r according o P =.4 r The slope of he line on a log-log plo is a lile larger han. Moreover he poins a 5 m and 6 m range fall below he line so here may be addiional aenuaion of he power wih disance compared wih predicions of he inverse square law. 5 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

16 Exercises 1. Skech he graphs of (a) y = e (b) y = e + 3 (c) y = e (d) y = e 1. The figure below shows he graphs of y = e, y = e and y = e y e e e Sae in words how he graphs of y = e and y = e relae o he graph of y = e. 3. The figures below show graphs of y = e, y = 4 e and y = 4 3e. 1 1 y 1 y = e y 4 3 y = 4 e 4 y y = 4 3e Use he above graphs o help you o skech graphs of (a) y = 5 e (b) y = 5 e 4. (a) The graph (a) in he figure below has an equaion of he form y = A + e k, where A and k are consans. Wha is he value of A? (b) The graph (b) below has an equaion of he form y = Ae k where A and k are consans. Wha is he value of A? (c) Wrie down a possible form of he equaion of he exponenial graph (c) giving numerical values o as many consans as possible. (d) Wrie down a possible form of he equaion of he exponenial graph (d) giving numerical values o as many consans as possible. HELM (8): Secion 6.5: Modelling Exercises 53

17 y y (a) (b) y y (c) (d) Answers 1. y e + 3 e 1 e 4 e (a) y = e is he same shape as y = e bu wih all y values doubled. (b) y = e is much seeper han y = e for > and much flaer for <. Boh pass hrough (, 1). Noe ha y = e = (e ) so each value of y = e is he square of he corresponding value of y = e. 3. (a) 6 4 y 5 e (b) y e 4. (a) (b) 5 (c) y = 6 4e k (d) y = 1 + e k 54 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

18 6. Logarihmic relaionships Experimenal psychology is concerned wih observing and measuring human response o various simuli. In paricular, sensaions of ligh, colour, sound, ase, ouch and muscular ension are produced when an exernal simulus acs on he associaed sense. A nineeenh cenury German, Erns Weber, conduced experimens involving sensaions of hea, ligh and sound and associaed simuli. Weber measured he response of subjecs, in a laboraory seing, o inpu simuli measured in erms of energy or some oher physical aribue and discovered ha: (1) No sensaion is fel unil he simulus reaches a cerain value, known as he hreshold value. () Afer his hreshold is reached an increase in simulus produces an increase in sensaion. (3) This increase in sensaion occurs a a diminishing rae as he simulus is increased. Task (a) Do Weber s resuls sugges a linear or non-linear relaionship beween sensaion and simulus? Skech a graph of sensaion agains simulus according o Weber s resuls. (b) Consider wheher an exponenial funcion or a growh-o-a-limi funcion migh be an appropriae model. Answer (a) Non-lineariy is required by observaion (3). 1 S P (b) An exponenial-ype of growh is no appropriae for a model consisen wih hese experimenal resuls, since we need a diminishing rae of growh in sensaion as he simulus increases. A growh-o-a-limi ype of funcion is no appropriae since he daa, a leas over he range of Weber s experimens, do no sugges ha here is a limi o he sensaion wih coninuing increase in simulus; only ha he increase in sensaion occurs more and more slowly. A lae nineeenh cenury German scienis, Gusav Fechner, sudied Weber s resuls. Fechner suggesed ha an appropriae funcion modelling Weber s findings would be logarihmic. He suggesed ha he variaion in sensaion (S) wih he simulus inpu (P ) is modelled by HELM (8): Secion 6.5: Modelling Exercises 55

19 S = A log(p/t ) ( < T 1) where T represens he hreshold of simulus inpu below which here is no sensaion and A is a consan. Noe ha when P = T, log(p/t ) = log(1) =, so his funcion is consisen wih iem (1) of Weber s resuls. Recall also ha log means logarihm o base 1, so when P = 1T, S = A log(1) = A. When P = 1T, S = A log(1) = A. The logarihmic funcion predics ha a enfold increase in he simulus inpu from T o 1T will resul in he same change in sensaion as a furher enfold increase in simulus inpu o 1T. Each enfold change is simulus resuls in a doubling of sensaion. So, alhough sensaion is prediced o increase wih simulus, he simulus has o increase a a faser and faser rae (i.e. exponenially) o achieve a given change in sensaion. These poins are consisen wih iems () and (3) of Weber s findings. Fechner s suggesion, ha he logarihmic funcion is an appropriae one for a model of he relaionship beween sensaion and simulus, seems reasonable. Noe ha he logarihmic funcion suggesed by Weber is no defined for zero simulus bu we are only ineresed in he model a and above he hreshold simulus, i.e. for values of he logarihm equal o and above zero. Noe also ha he logarihmic funcion is useful for looking a changes in sensaion relaive o simulus values oher han he hreshold simulus. According o Rule a in Table on page 4, Fechner s sensaion funcion may be wrien S = A log(p/t ) = A[log(P ) log(t )] (P T > ). Suppose ha he sensaion has he value S 1 a P 1 and S a P, so ha and S 1 = A[log(P 1 ) log(t )] (P 1 T > ), S = A[log(P ) log(t )] (P T > ). If we subrac he firs of hese wo equaions from he second, we ge S S 1 = A[log(P ) log(p 1 )] = A log(p /P 1 ), where Rule a of Table has been used again for he las sep. According o his form of equaion, he change in sensaion beween wo simuli values depends on he raio of he simuli values. We sar wih S = A log(p/t ) (1 T > ). Divide boh sides by A: S A = log P (1 T > ). T Undo he logarihm on boh sides by raising 1 o he power of each side: 1 S/A = 1 log(p/t ) = P T (1 T > ), using Rule 4b of Table. So P = T 1 S/A (1 T > ) which is an exponenial relaionship beween simulus and sensaion. A logarihmic relaionship beween sensaion and simulus herefore implies an exponenial relaionship beween simulus and sensaion. The relaionship may be wrien in wo differen forms wih he variables playing opposie roles in he wo funcions. The logarihmic relaionship beween sensaion and simulus is known as he Weber-Fechner Law of Sensaion. The idea ha a mahemaical funcion could describe our sensaions was sarling when 56 HELM (8): Workbook 6: Exponenial and Logarihmic Funcions

20 firs propounded. Indeed i may seem quie amazing o you now. Moreover i doesn always work. Neverheless he idea has been quie fruiful. Ou of i has come much quaniaive experimenal psychology of ineres o sound engineers. For example, i relaes o he sensaion of he loudness of sound. Sound level is expressed on a logarihmic scale. A a frequency of 1 khz an increase of 1 db corresponds o a doubling of loudness. Task Given a relaionship beween y and x of he form y = 3 log( x 4 ) he relaionship beween x and y. (x 4), find Your soluion Answer One way of answering is o compare wih he example preceding his ask. We have y in place of S, x in place of P, 3 in place of A, 4 in place of T. So i is possible o wrie down immediaely x = 4 1 y/3 (y ) Alernaively we can manipulae he given expression algebraically. Saring wih y = 3 log(x/4), divide boh sides by 3 o give y/3 = log(x/4). Raise 1 o he power of each side o eliminae he log, so ha 1 y/3 = x/4. Muliply boh sides by 4 and rearrange, o obain x = 4 1 y/3, as before. The associaed range is he resul of he fac ha x 4, so 1 y/3 1, so y/3 > which means y >. HELM (8): Secion 6.5: Modelling Exercises 57

Mathematics in Pharmacokinetics What and Why (A second attempt to make it clearer)

Mathematics in Pharmacokinetics What and Why (A second attempt to make it clearer) Mahemaics in Pharmacokineics Wha and Why (A second aemp o make i clearer) We have used equaions for concenraion () as a funcion of ime (). We will coninue o use hese equaions since he plasma concenraions

More information

Chapter 7. Response of First-Order RL and RC Circuits

Chapter 7. Response of First-Order RL and RC Circuits Chaper 7. esponse of Firs-Order L and C Circuis 7.1. The Naural esponse of an L Circui 7.2. The Naural esponse of an C Circui 7.3. The ep esponse of L and C Circuis 7.4. A General oluion for ep and Naural

More information

CHARGE AND DISCHARGE OF A CAPACITOR

CHARGE AND DISCHARGE OF A CAPACITOR REFERENCES RC Circuis: Elecrical Insrumens: Mos Inroducory Physics exs (e.g. A. Halliday and Resnick, Physics ; M. Sernheim and J. Kane, General Physics.) This Laboraory Manual: Commonly Used Insrumens:

More information

Name: Algebra II Review for Quiz #13 Exponential and Logarithmic Functions including Modeling

Name: Algebra II Review for Quiz #13 Exponential and Logarithmic Functions including Modeling Name: Algebra II Review for Quiz #13 Exponenial and Logarihmic Funcions including Modeling TOPICS: -Solving Exponenial Equaions (The Mehod of Common Bases) -Solving Exponenial Equaions (Using Logarihms)

More information

Chapter 2 Kinematics in One Dimension

Chapter 2 Kinematics in One Dimension Chaper Kinemaics in One Dimension Chaper DESCRIBING MOTION:KINEMATICS IN ONE DIMENSION PREVIEW Kinemaics is he sudy of how hings moe how far (disance and displacemen), how fas (speed and elociy), and how

More information

Chapter 4: Exponential and Logarithmic Functions

Chapter 4: Exponential and Logarithmic Functions Chaper 4: Eponenial and Logarihmic Funcions Secion 4.1 Eponenial Funcions... 15 Secion 4. Graphs of Eponenial Funcions... 3 Secion 4.3 Logarihmic Funcions... 4 Secion 4.4 Logarihmic Properies... 53 Secion

More information

11/6/2013. Chapter 14: Dynamic AD-AS. Introduction. Introduction. Keeping track of time. The model s elements

11/6/2013. Chapter 14: Dynamic AD-AS. Introduction. Introduction. Keeping track of time. The model s elements Inroducion Chaper 14: Dynamic D-S dynamic model of aggregae and aggregae supply gives us more insigh ino how he economy works in he shor run. I is a simplified version of a DSGE model, used in cuing-edge

More information

The Transport Equation

The Transport Equation The Transpor Equaion Consider a fluid, flowing wih velociy, V, in a hin sraigh ube whose cross secion will be denoed by A. Suppose he fluid conains a conaminan whose concenraion a posiion a ime will be

More information

cooking trajectory boiling water B (t) microwave 0 2 4 6 8 101214161820 time t (mins)

cooking trajectory boiling water B (t) microwave 0 2 4 6 8 101214161820 time t (mins) Alligaor egg wih calculus We have a large alligaor egg jus ou of he fridge (1 ) which we need o hea o 9. Now here are wo accepable mehods for heaing alligaor eggs, one is o immerse hem in boiling waer

More information

Acceleration Lab Teacher s Guide

Acceleration Lab Teacher s Guide Acceleraion Lab Teacher s Guide Objecives:. Use graphs of disance vs. ime and velociy vs. ime o find acceleraion of a oy car.. Observe he relaionship beween he angle of an inclined plane and he acceleraion

More information

Cointegration: The Engle and Granger approach

Cointegration: The Engle and Granger approach Coinegraion: The Engle and Granger approach Inroducion Generally one would find mos of he economic variables o be non-saionary I(1) variables. Hence, any equilibrium heories ha involve hese variables require

More information

Full-wave rectification, bulk capacitor calculations Chris Basso January 2009

Full-wave rectification, bulk capacitor calculations Chris Basso January 2009 ull-wave recificaion, bulk capacior calculaions Chris Basso January 9 This shor paper shows how o calculae he bulk capacior value based on ripple specificaions and evaluae he rms curren ha crosses i. oal

More information

Chapter 2 Problems. 3600s = 25m / s d = s t = 25m / s 0.5s = 12.5m. Δx = x(4) x(0) =12m 0m =12m

Chapter 2 Problems. 3600s = 25m / s d = s t = 25m / s 0.5s = 12.5m. Δx = x(4) x(0) =12m 0m =12m Chaper 2 Problems 2.1 During a hard sneeze, your eyes migh shu for 0.5s. If you are driving a car a 90km/h during such a sneeze, how far does he car move during ha ime s = 90km 1000m h 1km 1h 3600s = 25m

More information

Chapter 8: Regression with Lagged Explanatory Variables

Chapter 8: Regression with Lagged Explanatory Variables Chaper 8: Regression wih Lagged Explanaory Variables Time series daa: Y for =1,..,T End goal: Regression model relaing a dependen variable o explanaory variables. Wih ime series new issues arise: 1. One

More information

RC (Resistor-Capacitor) Circuits. AP Physics C

RC (Resistor-Capacitor) Circuits. AP Physics C (Resisor-Capacior Circuis AP Physics C Circui Iniial Condiions An circui is one where you have a capacior and resisor in he same circui. Suppose we have he following circui: Iniially, he capacior is UNCHARGED

More information

MTH6121 Introduction to Mathematical Finance Lesson 5

MTH6121 Introduction to Mathematical Finance Lesson 5 26 MTH6121 Inroducion o Mahemaical Finance Lesson 5 Conens 2.3 Brownian moion wih drif........................... 27 2.4 Geomeric Brownian moion........................... 28 2.5 Convergence of random

More information

9. Capacitor and Resistor Circuits

9. Capacitor and Resistor Circuits ElecronicsLab9.nb 1 9. Capacior and Resisor Circuis Inroducion hus far we have consider resisors in various combinaions wih a power supply or baery which provide a consan volage source or direc curren

More information

AP Calculus AB 2013 Scoring Guidelines

AP Calculus AB 2013 Scoring Guidelines AP Calculus AB 1 Scoring Guidelines The College Board The College Board is a mission-driven no-for-profi organizaion ha connecs sudens o college success and opporuniy. Founded in 19, he College Board was

More information

Appendix A: Area. 1 Find the radius of a circle that has circumference 12 inches.

Appendix A: Area. 1 Find the radius of a circle that has circumference 12 inches. Appendi A: Area worked-ou s o Odd-Numbered Eercises Do no read hese worked-ou s before aemping o do he eercises ourself. Oherwise ou ma mimic he echniques shown here wihou undersanding he ideas. Bes wa

More information

Answer, Key Homework 2 David McIntyre 45123 Mar 25, 2004 1

Answer, Key Homework 2 David McIntyre 45123 Mar 25, 2004 1 Answer, Key Homework 2 Daid McInyre 4123 Mar 2, 2004 1 This prin-ou should hae 1 quesions. Muliple-choice quesions may coninue on he ne column or page find all choices before making your selecion. The

More information

THE PRESSURE DERIVATIVE

THE PRESSURE DERIVATIVE Tom Aage Jelmer NTNU Dearmen of Peroleum Engineering and Alied Geohysics THE PRESSURE DERIVATIVE The ressure derivaive has imoran diagnosic roeries. I is also imoran for making ye curve analysis more reliable.

More information

Module 4. Single-phase AC circuits. Version 2 EE IIT, Kharagpur

Module 4. Single-phase AC circuits. Version 2 EE IIT, Kharagpur Module 4 Single-phase A circuis ersion EE T, Kharagpur esson 5 Soluion of urren in A Series and Parallel ircuis ersion EE T, Kharagpur n he las lesson, wo poins were described:. How o solve for he impedance,

More information

Motion Along a Straight Line

Motion Along a Straight Line Moion Along a Sraigh Line On Sepember 6, 993, Dave Munday, a diesel mechanic by rade, wen over he Canadian edge of Niagara Falls for he second ime, freely falling 48 m o he waer (and rocks) below. On his

More information

17 Laplace transform. Solving linear ODE with piecewise continuous right hand sides

17 Laplace transform. Solving linear ODE with piecewise continuous right hand sides 7 Laplace ransform. Solving linear ODE wih piecewise coninuous righ hand sides In his lecure I will show how o apply he Laplace ransform o he ODE Ly = f wih piecewise coninuous f. Definiion. A funcion

More information

The Greek financial crisis: growing imbalances and sovereign spreads. Heather D. Gibson, Stephan G. Hall and George S. Tavlas

The Greek financial crisis: growing imbalances and sovereign spreads. Heather D. Gibson, Stephan G. Hall and George S. Tavlas The Greek financial crisis: growing imbalances and sovereign spreads Heaher D. Gibson, Sephan G. Hall and George S. Tavlas The enry The enry of Greece ino he Eurozone in 2001 produced a dividend in he

More information

A Curriculum Module for AP Calculus BC Curriculum Module

A Curriculum Module for AP Calculus BC Curriculum Module Vecors: A Curriculum Module for AP Calculus BC 00 Curriculum Module The College Board The College Board is a no-for-profi membership associaion whose mission is o connec sudens o college success and opporuniy.

More information

PROFIT TEST MODELLING IN LIFE ASSURANCE USING SPREADSHEETS PART ONE

PROFIT TEST MODELLING IN LIFE ASSURANCE USING SPREADSHEETS PART ONE Profi Tes Modelling in Life Assurance Using Spreadshees PROFIT TEST MODELLING IN LIFE ASSURANCE USING SPREADSHEETS PART ONE Erik Alm Peer Millingon 2004 Profi Tes Modelling in Life Assurance Using Spreadshees

More information

AP Calculus BC 2010 Scoring Guidelines

AP Calculus BC 2010 Scoring Guidelines AP Calculus BC Scoring Guidelines The College Board The College Board is a no-for-profi membership associaion whose mission is o connec sudens o college success and opporuniy. Founded in, he College Board

More information

A Note on Using the Svensson procedure to estimate the risk free rate in corporate valuation

A Note on Using the Svensson procedure to estimate the risk free rate in corporate valuation A Noe on Using he Svensson procedure o esimae he risk free rae in corporae valuaion By Sven Arnold, Alexander Lahmann and Bernhard Schwezler Ocober 2011 1. The risk free ineres rae in corporae valuaion

More information

Duration and Convexity ( ) 20 = Bond B has a maturity of 5 years and also has a required rate of return of 10%. Its price is $613.

Duration and Convexity ( ) 20 = Bond B has a maturity of 5 years and also has a required rate of return of 10%. Its price is $613. Graduae School of Business Adminisraion Universiy of Virginia UVA-F-38 Duraion and Convexiy he price of a bond is a funcion of he promised paymens and he marke required rae of reurn. Since he promised

More information

Why Did the Demand for Cash Decrease Recently in Korea?

Why Did the Demand for Cash Decrease Recently in Korea? Why Did he Demand for Cash Decrease Recenly in Korea? Byoung Hark Yoo Bank of Korea 26. 5 Absrac We explores why cash demand have decreased recenly in Korea. The raio of cash o consumpion fell o 4.7% in

More information

Economics Honors Exam 2008 Solutions Question 5

Economics Honors Exam 2008 Solutions Question 5 Economics Honors Exam 2008 Soluions Quesion 5 (a) (2 poins) Oupu can be decomposed as Y = C + I + G. And we can solve for i by subsiuing in equaions given in he quesion, Y = C + I + G = c 0 + c Y D + I

More information

Random Walk in 1-D. 3 possible paths x vs n. -5 For our random walk, we assume the probabilities p,q do not depend on time (n) - stationary

Random Walk in 1-D. 3 possible paths x vs n. -5 For our random walk, we assume the probabilities p,q do not depend on time (n) - stationary Random Walk in -D Random walks appear in many cones: diffusion is a random walk process undersanding buffering, waiing imes, queuing more generally he heory of sochasic processes gambling choosing he bes

More information

Chapter 6: Business Valuation (Income Approach)

Chapter 6: Business Valuation (Income Approach) Chaper 6: Business Valuaion (Income Approach) Cash flow deerminaion is one of he mos criical elemens o a business valuaion. Everyhing may be secondary. If cash flow is high, hen he value is high; if he

More information

Newton s Laws of Motion

Newton s Laws of Motion Newon s Laws of Moion MS4414 Theoreical Mechanics Firs Law velociy. In he absence of exernal forces, a body moves in a sraigh line wih consan F = 0 = v = cons. Khan Academy Newon I. Second Law body. The

More information

4 Convolution. Recommended Problems. x2[n] 1 2[n]

4 Convolution. Recommended Problems. x2[n] 1 2[n] 4 Convoluion Recommended Problems P4.1 This problem is a simple example of he use of superposiion. Suppose ha a discree-ime linear sysem has oupus y[n] for he given inpus x[n] as shown in Figure P4.1-1.

More information

Usefulness of the Forward Curve in Forecasting Oil Prices

Usefulness of the Forward Curve in Forecasting Oil Prices Usefulness of he Forward Curve in Forecasing Oil Prices Akira Yanagisawa Leader Energy Demand, Supply and Forecas Analysis Group The Energy Daa and Modelling Cener Summary When people analyse oil prices,

More information

Signal Rectification

Signal Rectification 9/3/25 Signal Recificaion.doc / Signal Recificaion n imporan applicaion of juncion diodes is signal recificaion. here are wo ypes of signal recifiers, half-wae and fullwae. Le s firs consider he ideal

More information

Inductance and Transient Circuits

Inductance and Transient Circuits Chaper H Inducance and Transien Circuis Blinn College - Physics 2426 - Terry Honan As a consequence of Faraday's law a changing curren hrough one coil induces an EMF in anoher coil; his is known as muual

More information

Permutations and Combinations

Permutations and Combinations Permuaions and Combinaions Combinaorics Copyrigh Sandards 006, Tes - ANSWERS Barry Mabillard. 0 www.mah0s.com 1. Deermine he middle erm in he expansion of ( a b) To ge he k-value for he middle erm, divide

More information

Capacitors and inductors

Capacitors and inductors Capaciors and inducors We coninue wih our analysis of linear circuis by inroducing wo new passive and linear elemens: he capacior and he inducor. All he mehods developed so far for he analysis of linear

More information

Differential Equations and Linear Superposition

Differential Equations and Linear Superposition Differenial Equaions and Linear Superposiion Basic Idea: Provide soluion in closed form Like Inegraion, no general soluions in closed form Order of equaion: highes derivaive in equaion e.g. dy d dy 2 y

More information

Present Value Methodology

Present Value Methodology Presen Value Mehodology Econ 422 Invesmen, Capial & Finance Universiy of Washingon Eric Zivo Las updaed: April 11, 2010 Presen Value Concep Wealh in Fisher Model: W = Y 0 + Y 1 /(1+r) The consumer/producer

More information

Chapter 8 Student Lecture Notes 8-1

Chapter 8 Student Lecture Notes 8-1 Chaper Suden Lecure Noes - Chaper Goals QM: Business Saisics Chaper Analyzing and Forecasing -Series Daa Afer compleing his chaper, you should be able o: Idenify he componens presen in a ime series Develop

More information

µ r of the ferrite amounts to 1000...4000. It should be noted that the magnetic length of the + δ

µ r of the ferrite amounts to 1000...4000. It should be noted that the magnetic length of the + δ Page 9 Design of Inducors and High Frequency Transformers Inducors sore energy, ransformers ransfer energy. This is he prime difference. The magneic cores are significanly differen for inducors and high

More information

II.1. Debt reduction and fiscal multipliers. dbt da dpbal da dg. bal

II.1. Debt reduction and fiscal multipliers. dbt da dpbal da dg. bal Quarerly Repor on he Euro Area 3/202 II.. Deb reducion and fiscal mulipliers The deerioraion of public finances in he firs years of he crisis has led mos Member Saes o adop sizeable consolidaion packages.

More information

A Probability Density Function for Google s stocks

A Probability Density Function for Google s stocks A Probabiliy Densiy Funcion for Google s socks V.Dorobanu Physics Deparmen, Poliehnica Universiy of Timisoara, Romania Absrac. I is an approach o inroduce he Fokker Planck equaion as an ineresing naural

More information

Statistical Analysis with Little s Law. Supplementary Material: More on the Call Center Data. by Song-Hee Kim and Ward Whitt

Statistical Analysis with Little s Law. Supplementary Material: More on the Call Center Data. by Song-Hee Kim and Ward Whitt Saisical Analysis wih Lile s Law Supplemenary Maerial: More on he Call Cener Daa by Song-Hee Kim and Ward Whi Deparmen of Indusrial Engineering and Operaions Research Columbia Universiy, New York, NY 17-99

More information

Table of contents Chapter 1 Interest rates and factors Chapter 2 Level annuities Chapter 3 Varying annuities

Table of contents Chapter 1 Interest rates and factors Chapter 2 Level annuities Chapter 3 Varying annuities Table of conens Chaper 1 Ineres raes and facors 1 1.1 Ineres 2 1.2 Simple ineres 4 1.3 Compound ineres 6 1.4 Accumulaed value 10 1.5 Presen value 11 1.6 Rae of discoun 13 1.7 Consan force of ineres 17

More information

TEMPORAL PATTERN IDENTIFICATION OF TIME SERIES DATA USING PATTERN WAVELETS AND GENETIC ALGORITHMS

TEMPORAL PATTERN IDENTIFICATION OF TIME SERIES DATA USING PATTERN WAVELETS AND GENETIC ALGORITHMS TEMPORAL PATTERN IDENTIFICATION OF TIME SERIES DATA USING PATTERN WAVELETS AND GENETIC ALGORITHMS RICHARD J. POVINELLI AND XIN FENG Deparmen of Elecrical and Compuer Engineering Marquee Universiy, P.O.

More information

Novelty and Collective Attention

Novelty and Collective Attention ovely and Collecive Aenion Fang Wu and Bernardo A. Huberman Informaion Dynamics Laboraory HP Labs Palo Alo, CA 9434 Absrac The subjec of collecive aenion is cenral o an informaion age where millions of

More information

AP Calculus AB 2010 Scoring Guidelines

AP Calculus AB 2010 Scoring Guidelines AP Calculus AB 1 Scoring Guidelines The College Board The College Board is a no-for-profi membership associaion whose mission is o connec sudens o college success and opporuniy. Founded in 1, he College

More information

The naive method discussed in Lecture 1 uses the most recent observations to forecast future values. That is, Y ˆ t + 1

The naive method discussed in Lecture 1 uses the most recent observations to forecast future values. That is, Y ˆ t + 1 Business Condiions & Forecasing Exponenial Smoohing LECTURE 2 MOVING AVERAGES AND EXPONENTIAL SMOOTHING OVERVIEW This lecure inroduces ime-series smoohing forecasing mehods. Various models are discussed,

More information

Differential Equations. Solving for Impulse Response. Linear systems are often described using differential equations.

Differential Equations. Solving for Impulse Response. Linear systems are often described using differential equations. Differenial Equaions Linear sysems are ofen described using differenial equaions. For example: d 2 y d 2 + 5dy + 6y f() d where f() is he inpu o he sysem and y() is he oupu. We know how o solve for y given

More information

Morningstar Investor Return

Morningstar Investor Return Morningsar Invesor Reurn Morningsar Mehodology Paper Augus 31, 2010 2010 Morningsar, Inc. All righs reserved. The informaion in his documen is he propery of Morningsar, Inc. Reproducion or ranscripion

More information

ANALYSIS AND COMPARISONS OF SOME SOLUTION CONCEPTS FOR STOCHASTIC PROGRAMMING PROBLEMS

ANALYSIS AND COMPARISONS OF SOME SOLUTION CONCEPTS FOR STOCHASTIC PROGRAMMING PROBLEMS ANALYSIS AND COMPARISONS OF SOME SOLUTION CONCEPTS FOR STOCHASTIC PROGRAMMING PROBLEMS R. Caballero, E. Cerdá, M. M. Muñoz and L. Rey () Deparmen of Applied Economics (Mahemaics), Universiy of Málaga,

More information

Module 3. R-L & R-C Transients. Version 2 EE IIT, Kharagpur

Module 3. R-L & R-C Transients. Version 2 EE IIT, Kharagpur Module 3 - & -C Transiens esson 0 Sudy of DC ransiens in - and -C circuis Objecives Definiion of inducance and coninuiy condiion for inducors. To undersand he rise or fall of curren in a simple series

More information

A Re-examination of the Joint Mortality Functions

A Re-examination of the Joint Mortality Functions Norh merican cuarial Journal Volume 6, Number 1, p.166-170 (2002) Re-eaminaion of he Join Morali Funcions bsrac. Heekung Youn, rkad Shemakin, Edwin Herman Universi of S. Thomas, Sain Paul, MN, US Morali

More information

Supplementary Appendix for Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?

Supplementary Appendix for Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking? Supplemenary Appendix for Depression Babies: Do Macroeconomic Experiences Affec Risk-Taking? Ulrike Malmendier UC Berkeley and NBER Sefan Nagel Sanford Universiy and NBER Sepember 2009 A. Deails on SCF

More information

Individual Health Insurance April 30, 2008 Pages 167-170

Individual Health Insurance April 30, 2008 Pages 167-170 Individual Healh Insurance April 30, 2008 Pages 167-170 We have received feedback ha his secion of he e is confusing because some of he defined noaion is inconsisen wih comparable life insurance reserve

More information

WATER MIST FIRE PROTECTION RELIABILITY ANALYSIS

WATER MIST FIRE PROTECTION RELIABILITY ANALYSIS WATER MIST FIRE PROTECTION RELIABILITY ANALYSIS Shuzhen Xu Research Risk and Reliabiliy Area FM Global Norwood, Massachuses 262, USA David Fuller Engineering Sandards FM Global Norwood, Massachuses 262,

More information

Vector Autoregressions (VARs): Operational Perspectives

Vector Autoregressions (VARs): Operational Perspectives Vecor Auoregressions (VARs): Operaional Perspecives Primary Source: Sock, James H., and Mark W. Wason, Vecor Auoregressions, Journal of Economic Perspecives, Vol. 15 No. 4 (Fall 2001), 101-115. Macroeconomericians

More information

CHAPTER FIVE. Solutions for Section 5.1

CHAPTER FIVE. Solutions for Section 5.1 CHAPTER FIVE 5. SOLUTIONS 87 Soluions for Secion 5.. (a) The velociy is 3 miles/hour for he firs hours, 4 miles/hour for he ne / hour, and miles/hour for he las 4 hours. The enire rip lass + / + 4 = 6.5

More information

PRESSURE BUILDUP. Figure 1: Schematic of an ideal buildup test

PRESSURE BUILDUP. Figure 1: Schematic of an ideal buildup test Tom Aage Jelmer NTNU Dearmen of Peroleum Engineering and Alied Geohysics PRESSURE BUILDUP I is difficul o kee he rae consan in a roducing well. This is no an issue in a buildu es since he well is closed.

More information

Forecasting, Ordering and Stock- Holding for Erratic Demand

Forecasting, Ordering and Stock- Holding for Erratic Demand ISF 2002 23 rd o 26 h June 2002 Forecasing, Ordering and Sock- Holding for Erraic Demand Andrew Eaves Lancaser Universiy / Andalus Soluions Limied Inroducion Erraic and slow-moving demand Demand classificaion

More information

1 HALF-LIFE EQUATIONS

1 HALF-LIFE EQUATIONS R.L. Hanna Page HALF-LIFE EQUATIONS The basic equaion ; he saring poin ; : wrien for ime: x / where fracion of original maerial and / number of half-lives, and / log / o calculae he age (# ears): age (half-life)

More information

Lectures # 5 and 6: The Prime Number Theorem.

Lectures # 5 and 6: The Prime Number Theorem. Lecures # 5 and 6: The Prime Number Theorem Noah Snyder July 8, 22 Riemann s Argumen Riemann used his analyically coninued ζ-funcion o skech an argumen which would give an acual formula for π( and sugges

More information

1 A B C D E F G H I J K L M N O P Q R S { U V W X Y Z 1 A B C D E F G H I J K L M N O P Q R S { U V W X Y Z

1 A B C D E F G H I J K L M N O P Q R S { U V W X Y Z 1 A B C D E F G H I J K L M N O P Q R S { U V W X Y Z o ffix uden abel ere uden ame chool ame isric ame/ ender emale ale onh ay ear ae of irh an eb ar pr ay un ul ug ep c ov ec as ame irs ame lace he uden abel ere ae uden denifier chool se nly rined in he

More information

Kinematics in 1-D From Problems and Solutions in Introductory Mechanics (Draft version, August 2014) David Morin, morin@physics.harvard.

Kinematics in 1-D From Problems and Solutions in Introductory Mechanics (Draft version, August 2014) David Morin, morin@physics.harvard. Chaper 2 Kinemaics in 1-D From Problems and Soluions in Inroducory Mechanics (Draf ersion, Augus 2014) Daid Morin, morin@physics.harard.edu As menioned in he preface, his book should no be hough of as

More information

The Grantor Retained Annuity Trust (GRAT)

The Grantor Retained Annuity Trust (GRAT) WEALTH ADVISORY Esae Planning Sraegies for closely-held, family businesses The Granor Reained Annuiy Trus (GRAT) An efficien wealh ransfer sraegy, paricularly in a low ineres rae environmen Family business

More information

Hedging with Forwards and Futures

Hedging with Forwards and Futures Hedging wih orwards and uures Hedging in mos cases is sraighforward. You plan o buy 10,000 barrels of oil in six monhs and you wish o eliminae he price risk. If you ake he buy-side of a forward/fuures

More information

Working Paper No. 482. Net Intergenerational Transfers from an Increase in Social Security Benefits

Working Paper No. 482. Net Intergenerational Transfers from an Increase in Social Security Benefits Working Paper No. 482 Ne Inergeneraional Transfers from an Increase in Social Securiy Benefis By Li Gan Texas A&M and NBER Guan Gong Shanghai Universiy of Finance and Economics Michael Hurd RAND Corporaion

More information

2.5 Life tables, force of mortality and standard life insurance products

2.5 Life tables, force of mortality and standard life insurance products Soluions 5 BS4a Acuarial Science Oford MT 212 33 2.5 Life ables, force of moraliy and sandard life insurance producs 1. (i) n m q represens he probabiliy of deah of a life currenly aged beween ages + n

More information

AP Calculus AB 2007 Scoring Guidelines

AP Calculus AB 2007 Scoring Guidelines AP Calculus AB 7 Scoring Guidelines The College Board: Connecing Sudens o College Success The College Board is a no-for-profi membership associaion whose mission is o connec sudens o college success and

More information

Voltage level shifting

Voltage level shifting rek Applicaion Noe Number 1 r. Maciej A. Noras Absrac A brief descripion of volage shifing circuis. 1 Inroducion In applicaions requiring a unipolar A volage signal, he signal may be delivered from a bi-polar

More information

4. International Parity Conditions

4. International Parity Conditions 4. Inernaional ariy ondiions 4.1 urchasing ower ariy he urchasing ower ariy ( heory is one of he early heories of exchange rae deerminaion. his heory is based on he concep ha he demand for a counry's currency

More information

Making Use of Gate Charge Information in MOSFET and IGBT Data Sheets

Making Use of Gate Charge Information in MOSFET and IGBT Data Sheets Making Use of ae Charge Informaion in MOSFET and IBT Daa Shees Ralph McArhur Senior Applicaions Engineer Advanced Power Technology 405 S.W. Columbia Sree Bend, Oregon 97702 Power MOSFETs and IBTs have

More information

Term Structure of Prices of Asian Options

Term Structure of Prices of Asian Options Term Srucure of Prices of Asian Opions Jirô Akahori, Tsuomu Mikami, Kenji Yasuomi and Teruo Yokoa Dep. of Mahemaical Sciences, Risumeikan Universiy 1-1-1 Nojihigashi, Kusasu, Shiga 525-8577, Japan E-mail:

More information

Appendix D Flexibility Factor/Margin of Choice Desktop Research

Appendix D Flexibility Factor/Margin of Choice Desktop Research Appendix D Flexibiliy Facor/Margin of Choice Deskop Research Cheshire Eas Council Cheshire Eas Employmen Land Review Conens D1 Flexibiliy Facor/Margin of Choice Deskop Research 2 Final Ocober 2012 \\GLOBAL.ARUP.COM\EUROPE\MANCHESTER\JOBS\200000\223489-00\4

More information

USE OF EDUCATION TECHNOLOGY IN ENGLISH CLASSES

USE OF EDUCATION TECHNOLOGY IN ENGLISH CLASSES USE OF EDUCATION TECHNOLOGY IN ENGLISH CLASSES Mehme Nuri GÖMLEKSİZ Absrac Using educaion echnology in classes helps eachers realize a beer and more effecive learning. In his sudy 150 English eachers were

More information

Measuring macroeconomic volatility Applications to export revenue data, 1970-2005

Measuring macroeconomic volatility Applications to export revenue data, 1970-2005 FONDATION POUR LES ETUDES ET RERS LE DEVELOPPEMENT INTERNATIONAL Measuring macroeconomic volailiy Applicaions o expor revenue daa, 1970-005 by Joël Cariolle Policy brief no. 47 March 01 The FERDI is a

More information

Stochastic Optimal Control Problem for Life Insurance

Stochastic Optimal Control Problem for Life Insurance Sochasic Opimal Conrol Problem for Life Insurance s. Basukh 1, D. Nyamsuren 2 1 Deparmen of Economics and Economerics, Insiue of Finance and Economics, Ulaanbaaar, Mongolia 2 School of Mahemaics, Mongolian

More information

THE FIRM'S INVESTMENT DECISION UNDER CERTAINTY: CAPITAL BUDGETING AND RANKING OF NEW INVESTMENT PROJECTS

THE FIRM'S INVESTMENT DECISION UNDER CERTAINTY: CAPITAL BUDGETING AND RANKING OF NEW INVESTMENT PROJECTS VII. THE FIRM'S INVESTMENT DECISION UNDER CERTAINTY: CAPITAL BUDGETING AND RANKING OF NEW INVESTMENT PROJECTS The mos imporan decisions for a firm's managemen are is invesmen decisions. While i is surely

More information

Chapter 1.6 Financial Management

Chapter 1.6 Financial Management Chaper 1.6 Financial Managemen Par I: Objecive ype quesions and answers 1. Simple pay back period is equal o: a) Raio of Firs cos/ne yearly savings b) Raio of Annual gross cash flow/capial cos n c) = (1

More information

Stability. Coefficients may change over time. Evolution of the economy Policy changes

Stability. Coefficients may change over time. Evolution of the economy Policy changes Sabiliy Coefficiens may change over ime Evoluion of he economy Policy changes Time Varying Parameers y = α + x β + Coefficiens depend on he ime period If he coefficiens vary randomly and are unpredicable,

More information

Signal Processing and Linear Systems I

Signal Processing and Linear Systems I Sanford Universiy Summer 214-215 Signal Processing and Linear Sysems I Lecure 5: Time Domain Analysis of Coninuous Time Sysems June 3, 215 EE12A:Signal Processing and Linear Sysems I; Summer 14-15, Gibbons

More information

CLASSICAL TIME SERIES DECOMPOSITION

CLASSICAL TIME SERIES DECOMPOSITION Time Series Lecure Noes, MSc in Operaional Research Lecure CLASSICAL TIME SERIES DECOMPOSITION Inroducion We menioned in lecure ha afer we calculaed he rend, everyhing else ha remained (according o ha

More information

1. y 5y + 6y = 2e t Solution: Characteristic equation is r 2 5r +6 = 0, therefore r 1 = 2, r 2 = 3, and y 1 (t) = e 2t,

1. y 5y + 6y = 2e t Solution: Characteristic equation is r 2 5r +6 = 0, therefore r 1 = 2, r 2 = 3, and y 1 (t) = e 2t, Homework6 Soluions.7 In Problem hrough 4 use he mehod of variaion of parameers o find a paricular soluion of he given differenial equaion. Then check your answer by using he mehod of undeermined coeffiens..

More information

Estimating Time-Varying Equity Risk Premium The Japanese Stock Market 1980-2012

Estimating Time-Varying Equity Risk Premium The Japanese Stock Market 1980-2012 Norhfield Asia Research Seminar Hong Kong, November 19, 2013 Esimaing Time-Varying Equiy Risk Premium The Japanese Sock Marke 1980-2012 Ibboson Associaes Japan Presiden Kasunari Yamaguchi, PhD/CFA/CMA

More information

INTEREST RATE FUTURES AND THEIR OPTIONS: SOME PRICING APPROACHES

INTEREST RATE FUTURES AND THEIR OPTIONS: SOME PRICING APPROACHES INTEREST RATE FUTURES AND THEIR OPTIONS: SOME PRICING APPROACHES OPENGAMMA QUANTITATIVE RESEARCH Absrac. Exchange-raded ineres rae fuures and heir opions are described. The fuure opions include hose paying

More information

When Is Growth Pro-Poor? Evidence from a Panel of Countries

When Is Growth Pro-Poor? Evidence from a Panel of Countries Forhcoming, Journal of Developmen Economics When Is Growh Pro-Poor? Evidence from a Panel of Counries Aar Kraay The World Bank Firs Draf: December 2003 Revised: December 2004 Absrac: Growh is pro-poor

More information

Capital budgeting techniques

Capital budgeting techniques Capial budgeing echniques A reading prepared by Pamela Peerson Drake O U T L I N E 1. Inroducion 2. Evaluaion echniques 3. Comparing echniques 4. Capial budgeing in pracice 5. Summary 1. Inroducion The

More information

Small and Large Trades Around Earnings Announcements: Does Trading Behavior Explain Post-Earnings-Announcement Drift?

Small and Large Trades Around Earnings Announcements: Does Trading Behavior Explain Post-Earnings-Announcement Drift? Small and Large Trades Around Earnings Announcemens: Does Trading Behavior Explain Pos-Earnings-Announcemen Drif? Devin Shanhikumar * Firs Draf: Ocober, 2002 This Version: Augus 19, 2004 Absrac This paper

More information

Return Calculation of U.S. Treasury Constant Maturity Indices

Return Calculation of U.S. Treasury Constant Maturity Indices Reurn Calculaion of US Treasur Consan Mauri Indices Morningsar Mehodolog Paper Sepeber 30 008 008 Morningsar Inc All righs reserved The inforaion in his docuen is he proper of Morningsar Inc Reproducion

More information

Journal Of Business & Economics Research September 2005 Volume 3, Number 9

Journal Of Business & Economics Research September 2005 Volume 3, Number 9 Opion Pricing And Mone Carlo Simulaions George M. Jabbour, (Email: jabbour@gwu.edu), George Washingon Universiy Yi-Kang Liu, (yikang@gwu.edu), George Washingon Universiy ABSTRACT The advanage of Mone Carlo

More information

INTRODUCTION TO FORECASTING

INTRODUCTION TO FORECASTING INTRODUCTION TO FORECASTING INTRODUCTION: Wha is a forecas? Why do managers need o forecas? A forecas is an esimae of uncerain fuure evens (lierally, o "cas forward" by exrapolaing from pas and curren

More information

C Fast-Dealing Property Trading Game C

C Fast-Dealing Property Trading Game C If you are already an experienced MONOPOLY dealer and wan a faser game, ry he rules on he back page! AGES 8+ C Fas-Dealing Propery Trading Game C Y Original MONOPOLY Game Rules plus Special Rules for his

More information

Nikkei Stock Average Volatility Index Real-time Version Index Guidebook

Nikkei Stock Average Volatility Index Real-time Version Index Guidebook Nikkei Sock Average Volailiy Index Real-ime Version Index Guidebook Nikkei Inc. Wih he modificaion of he mehodology of he Nikkei Sock Average Volailiy Index as Nikkei Inc. (Nikkei) sars calculaing and

More information

SELF-EVALUATION FOR VIDEO TRACKING SYSTEMS

SELF-EVALUATION FOR VIDEO TRACKING SYSTEMS SELF-EVALUATION FOR VIDEO TRACKING SYSTEMS Hao Wu and Qinfen Zheng Cenre for Auomaion Research Dep. of Elecrical and Compuer Engineering Universiy of Maryland, College Park, MD-20742 {wh2003, qinfen}@cfar.umd.edu

More information