Search results for: optimal allocation ratio

Authors: Horng-Wen Wu, Yi Chao, Rong-Fang Horng

Abstract:

This study is to develop a methanol steam reformer with a heat recovery zone, which recovers heat from exhaust gas of a diesel engine, and to investigate waste heat recovery ratio at the required reaction temperature. The operation conditions of the reformer are reaction temperature (200 °C, 250 °C, and 300 °C), steam to carbonate (S/C) ratio (0.9, 1.1, and 1.3), and N2 volume flow rate (40 cm3/min, 70 cm3/min, and 100 cm3/min). Finally, the hydrogen concentration, the CO, CO2, and N2 concentrations are measured and recorded to calculate methanol conversion efficiency, hydrogen flow rate, and assisting combustion gas and impeding combustion gas ratio. The heat source of this reformer comes from electric heater and waste heat of exhaust gas from diesel engines. The objective is to recover waste heat from the engine and to make more uniform temperature distribution within the reformer. It is beneficial for the reformer to enhance the methanol conversion efficiency and hydrogen-rich gas production. Experimental results show that the highest hydrogen flow rate exists at N2 of the volume rate 40 cm3/min and reforming reaction temperature of 300 °C and the value is 19.6 l/min. With the electric heater and heat recovery from exhaust gas, the maximum heat recovery ratio is 13.18 % occurring at water-methanol (S/C) ratio of 1.3 and the reforming reaction temperature of 300 °C.

Keywords: heat recovery, hydrogen-rich production, methanol steam reformer, methanol conversion efficiency

Procedia PDF Downloads 446

Authors: Su Xiaohan, Jin Chicheng, Liu Yijing, Burra Venkata Durga Kumar

Abstract:

Energy-aware scheduling in real-time systems aims to minimize energy consumption, but issues related to resource reservation and timing constraints remain challenges. This study focuses on analyzing two scheduling algorithms, Fair-Share Scheduling (FFS) and Priority-Driven Preemptive Scheduling (PDPS), for solving these issues and energy-aware scheduling in real-time systems. Based on research on both algorithms and the processes of solving two problems, it can be found that Fair-Share Scheduling ensures fair allocation of resources but needs to improve with an imbalanced system load, and Priority-Driven Preemptive Scheduling prioritizes tasks based on criticality to meet timing constraints through preemption but relies heavily on task prioritization and may not be energy efficient. Therefore, improvements to both algorithms with energy-aware features will be proposed. Future work should focus on developing hybrid scheduling techniques that minimize energy consumption through intelligent task prioritization, resource allocation, and meeting time constraints.

Keywords: energy-aware scheduling, fair-share scheduling, priority-driven preemptive scheduling, real-time systems, optimization, resource reservation, timing constraints

Procedia PDF Downloads 102

Authors: Elitsa Kolentsova, Dimitar Dimitrov, Vasko Idakiev, Tatyana Tabakova, Krasimir Ivanov

Abstract:

Formaldehyde production by selective oxidation of methanol is an important industrial process. The main by-products in the waste gas are CO and dimethyl ether (DME). The idea of this study is to combine the advantages of both Cu-Mn and Cu-Co catalytic systems by obtaining a new mixed Cu-Mn-Co catalyst with high activity and selectivity at the simultaneous oxidation of CO, methanol, and DME. Two basic Cu-Mn samples with high activity were selected for further investigation: (i) manganese-rich Cu-Mn/γ–Al2O3 catalyst with Cu/Mn molar ratio 1:5 and (ii) copper-rich Cu-Mn/γ-Al2O3 catalyst with Cu/Mn molar ratio 2:1. Manganese in these samples was replaced by cobalt in the whole concentration region, and catalytic properties were determined. The results show a general trend of decreasing the activity toward DME oxidation and increasing the activity toward CO and methanol oxidation with the increase of cobalt up to 60% for both groups of catalyst. This general trend, however, contains specific features, depending on the composition of the catalyst and the nature of the oxidized gas. The catalytic activity of the sample with Cu/(Mn+Co) molar ratio of 2:1 is gradually changed with increasing the cobalt content. The activity of the sample with Cu/(Mn+Co) molar ratio of 1: 5 passes through a maximum at 60% manganese replacement by cobalt, probably due to the formation of highly dispersed Co-based spinel structures (Co3O4 and/or MnCo2O4). In conclusion, the present study demonstrates that the Cu-Mn-Co/γ–alumina supported catalysts have enhanced activity toward CO, methanol and DME oxidation. Cu/(Mn+Co) molar ratio 1:5 and Co/Mn molar ratio 1.5 in the active component can ensure successful oxidation of CO, CH3OH and DME. The active component of the mixed Cu-Mn-Co/γ–alumina catalysts consists of at least six compounds - CuO, Co3O4, MnO2, Cu1.5Mn1.5O4, MnCo2O4 and CuCo2O4, depending on the Cu/Mn/Co molar ratio. Chemical composition strongly influences catalytic properties, this effect being quite variable with regards to the different processes.

Keywords: Cu-Mn-Co catalysts, oxidation, carbon oxide, VOCs

Procedia PDF Downloads 201

Authors: Nalan Hakime Nogay

Abstract:

Childhood obesity is a significant health issue that is currently on the rise all over the world. In recent years, the relationship between childhood obesity and cardiovascular disease risk has been pointed out. The purpose of this study is to evaluate the relationship between some of the anthropometric indicators and blood lipid levels in adolescents. The present study has been conducted on a total of 252 adolescents -200 girls and 52 boys- within an age group of 12 to 18 years. Blood was drawn from each participant in the morning -after having fasted for 10 hours from the day before- to analyze their total cholesterol, HDL, LDL and triglyceride levels. Their body weight, height, waist circumference, subscapular skinfold thicknesses and triceps skinfold thicknesses measurements were taken and their individual waist/height ratios, BMI and body fat ratios were calculated. The blood lipid levels of the participants were categorized as acceptable, borderline and high in accordance with the 2011 Expert Panel Integrated Guidelines. The body fat ratios, total blood cholesterol and HDL levels of the girls were significantly higher than the boys whereas their waist circumference values were lower. The triglyceride levels, total cholesterol/HDL, LDL/HDL, triglyceride/HDL ratios of the group with the BMI ≥ 95 percentile ratio (the obese group) were higher than the groups that were considered to be overweight and normal weight as per their respective BMI values, while the HDL level of the obese group was lower; a fact that was found to be statistically significant. No significant relationship could be established, however, between the total blood cholesterol and LDL levels with their anthropometric measurements. The BMI, waist circumference, waist/height ratio, body fat ratio and triglyceride level of the group with the higher triglyceride level ( ≥ 130mg/dl) were found to be significantly higher compared to borderline (90-129 mg/dl) and the normal group (< 90 mg/dl). The BMI, waist circumference, waist/height ratio values of the group with the lower HDL level ( < 40 mg/dl) were significantly higher than the normal ( > 45 mg/dl) and borderline (40-45 mg/dl) groups. All of the anthropometric measurements of the group with the higher triglyceride/HDL ratio ( ≥ 3) were found to be significantly higher than that of the group with the lower ratio (< 3). Having a high BMI, waist/height ratio and waist circumference is related to low HDL and high blood triglyceride and triglyceride/HDL ratio. A high body fat ratio, on the other hand, is associated with a low HDL and high triglyceride/HDL ratio. Tackling childhood and adolescent obesity are important in terms of preventing cardiovascular diseases.

Keywords: adolescent, body fat, body mass index, lipid profile

Procedia PDF Downloads 244

Authors: Manisha Dubey, Gaurav Gupta, Anoop Arya

Abstract:

The demand for power supply increases day by day in developing countries like India henceforth demand of reactive power support in the form of ancillary services provider also has been increased. The multi-line and multi-type Flexible alternating current transmission system (FACTS) controllers are playing a vital role to regulate power flow through the transmission line. Unified power flow controller and interline power flow controller can be utilized to control reactive power flow through the transmission line. In a restructured power system, the demand of such controller is being popular due to their inherent capability. The transmission pricing by using reactive power cost allocation through modified matrix methodology has been proposed. The FACTS technologies have quite costly assembly, so it is very useful to apportion the expenses throughout the restructured electricity industry. Therefore, in this work, after embedding the FACTS devices into load flow, the impact on the costs allocated to users in fraction to the transmission framework utilization has been analyzed. From the obtained results, it is clear that the total cost recovery is enhanced towards the Reactive Power flow through the different transmission line for 5 bus test system. The fair pricing policy towards reactive power can be achieved by the proposed method incorporating FACTS controller towards cost recovery of the transmission network.

Keywords: interline power flow controller, transmission pricing, unified power flow controller, cost allocation

Procedia PDF Downloads 125

Authors: Jaypalsinh Parmar, Pintu Nakrani, Bhaumik Shah

Abstract:

Digital Elevation Model (DEM) is elevation data of the virtual grid on the ground. DEM can be used in application in GIS such as hydrological modelling, flood forecasting, morphometrical analysis and surveying etc.. For morphometrical analysis the stream flow network plays a very important role. DEM lacks accuracy and cannot match field data as it should for accurate results of morphometrical analysis. The present study focuses on comparing the Agree method and the conventional Shortest path method for finding out morphometric parameters in the flat region of the Lower Tapi Basin which is located in the western India. For the present study, open source SRTM (Shuttle Radar Topography Mission with 1 arc resolution) and toposheets issued by Survey of India (SOI) were used to determine the morphometric linear aspect such as stream order, number of stream, stream length, bifurcation ratio, mean stream length, mean bifurcation ratio, stream length ratio, length of overland flow, constant of channel maintenance and aerial aspect such as drainage density, stream frequency, drainage texture, form factor, circularity ratio, elongation ratio, shape factor and relief aspect such as relief ratio, gradient ratio and basin relief for 53 catchments of Lower Tapi Basin. Stream network was digitized from the available toposheets. Agree DEM was created by using the SRTM and stream network from the toposheets. The results obtained were used to demonstrate a comparison between the two methods in the flat areas.

Keywords: agree method, morphometric analysis, lower Tapi basin, shortest path method

Procedia PDF Downloads 217

Authors: Safayat Ali Shaikh

Abstract:

Software has been developed for optimal cropping pattern in an irrigation project considering land constraint, water availability constraint and pick up flow constraint using modified Simplex Algorithm. Artificial Neural Network Models (ANN) have been developed to predict rainfall. AR (1) model used to generate 1000 years rainfall data to train the ANN. Simulation has been done with expected rainfall data. Eight number crops and three types of soil class have been considered for optimization model. Area under each crop and each soil class have been quantified using Modified Simplex Algorithm to get optimum net return. Efficacy of the software has been tested using data of large irrigation project in India.

Keywords: artificial neural network, large irrigation project, modified simplex algorithm, optimal cropping pattern

Procedia PDF Downloads 184

Authors: Naragain Phumchusri, Kittitach Pongpairoj

Abstract:

Overbooking is a very useful revenue management technique that could help reduce costs caused by either undersales or oversales. In this paper, we propose an overbooking model for two types of cars that can minimize the total cost for car rental service. With two types of cars, there is an upgrade possibility for lower type to upper type. This makes the model more complex than one type of cars scenario. We have found that convexity can be proved in this case. Sensitivity analysis of the parameters is conducted to observe the effects of relevant parameters on the optimal solution. Model simplification is proposed using multiple linear regression analysis, which can help estimate the optimal overbooking level using appropriate independent variables. The results show that the overbooking level from multiple linear regression model is relatively close to the optimal solution (with the adjusted R-squared value of at least 72.8%). To evaluate the performance of the proposed model, the total cost was compared with the case where the decision maker uses a naïve method for the overbooking level. It was found that the total cost from optimal solution is only 0.5 to 1 percent (on average) lower than the cost from regression model, while it is approximately 67% lower than the cost obtained by the naïve method. It indicates that our proposed simplification method using regression analysis can effectively perform in estimating the overbooking level.

Keywords: overbooking, car rental industry, revenue management, stochastic model

Procedia PDF Downloads 151

Authors: Ramin Mansouri

Abstract:

Due to the contrast of rivers discharge regime with water demands, one of the best ways to use water resources is to regulate the natural flow of the rivers and supplying water needs to construct dams. Optimal utilization of reservoirs, consideration of multiple important goals together at the same is of very high importance. To study about analyzing this method, statistical data of Bakhtiari and Roudbar dam over 46 years (1955 until 2001) is used. Initially an appropriate objective function was specified and using DE algorithm, the rule curve was developed. In continue, operation policy using rule curves was compared to standard comparative operation policy. The proposed method distributed the lack to the whole year and lowest damage was inflicted to the system. The standard deviation of monthly shortfall of each year with the proposed algorithm was less deviated than the other two methods. The Results show that median values for the coefficients of F and Cr provide the optimum situation and cause DE algorithm not to be trapped in local optimum. The most optimal answer for coefficients are 0.6 and 0.5 for F and Cr coefficients, respectively. After finding the best combination of coefficients values F and CR, algorithms for solving the independent populations were examined. For this purpose, the population of 4, 25, 50, 100, 500 and 1000 members were studied in two generations (G=50 and 100). result indicates that the generation number 200 is suitable for optimizing. The increase in time per the number of population has almost a linear trend, which indicates the effect of population in the runtime algorithm. Hence specifying suitable population to obtain an optimal results is very important. Standard operation policy had better reversibility percentage, but inflicts severe vulnerability to the system. The results obtained in years of low rainfall had very good results compared to other comparative methods.

Keywords: reservoirs, differential evolution, dam, Optimal operation

Procedia PDF Downloads 58

Authors: Joseph C. Chen, Venkata Karthik Jakka

Abstract:

The main objective of this research is to optimize tensile strength and dimensional accuracy in injection molding processes using Taguchi Parameter Design. An L16 orthogonal array (OA) is used in Taguchi experimental design with five control factors at four levels each and with non-controllable factor vibration. A total of 32 experiments were designed to obtain the optimal parameter setting for the process. The optimal parameters identified for the shrinkage are shot volume, 1.7 cubic inch (A4); mold term temperature, 130 ºF (B1); hold pressure, 3200 Psi (C4); injection speed, 0.61 inch3/sec (D2); and hold time of 14 seconds (E2). The optimal parameters identified for the tensile strength are shot volume, 1.7 cubic inch (A4); mold temperature, 160 ºF (B4); hold pressure, 3100 Psi (C3); injection speed, 0.69 inch3/sec (D4); and hold time of 14 seconds (E2). The Taguchi-based optimization framework was systematically and successfully implemented to obtain an adjusted optimal setting in this research. The mean shrinkage of the confirmation runs is 0.0031%, and the tensile strength value was found to be 3148.1 psi. Both outcomes are far better results from the baseline, and defects have been further reduced in injection molding processes.

Keywords: injection molding processes, taguchi parameter design, tensile strength, high-density polyethylene(HDPE)

Procedia PDF Downloads 175

Authors: Marija Knez, James C.R. Stangoulis, Manja Zec, Zoran Pavlovic, Jasmina D. Martacic, Mirjana Gurinovic, Maria Glibetic

Abstract:

Background: Zinc is an essential micronutrient for humans with important physiological functions. A sensitive and specific biomarker for assessing Zn status is still needed. Objective: The major aim of this study was to examine if the changes in the content of plasma phospholipid LA, DGLA and LA: DGLA ratio can be used to efficiently predict the dietary Zn intake and plasma Zn status of humans. Methods: The study was performed on apparently healthy human volunteers. The dietary Zn intake was assessed using 24h recall questionnaires. Plasma phospholipid fatty acid analysis was done by gas chromatography and plasma analysis of minerals by atomic absorption spectrometry. Biochemical, anthropometrical and hematological parameters were assessed. Results: No significant relationship was found between the dietary and plasma zinc status (r=0.07; p=0.6). There is a statistically significant correlation between DGLA and plasma Zn (r=0.39, p=0.00). No relationship was observed between the linoleic acid and plasma Zn, while there was a significant negative correlation between LA: DGLA ratio and plasma Zn status (r=-0.35, p=0.01). Similarly, there were statistically significant difference in DGLA status (p=0.004) and LA: DGLA ratio (p=0.042) between the Zn formed groups. Conclusions: This study is an initial step in evaluating LA: DGLA ratio as a biomarker of Zn status in humans. The results are encouraging as they show that concentration of DGLA is decreased and LA: DGLA ratio increased in people with lower dietary Zn intake. However, additional studies are needed to fully examine the sensitivity of this biomarker.

Keywords: dietary Zn intake Zinc, fatty acid composition, LA: DGLA, healthy population, plasma Zn status, Zn biomarker

Procedia PDF Downloads 252

Authors: Thochi Seb Rengma, Mahendra Kumar Gupta, P. M. V. Subbarao

Abstract:

Hydrokinetic turbines can be used to produce power in inaccessible villages located near rivers. The hydrokinetic turbine uses the kinetic energy of the water and maybe put it directly into the natural flow of water without dams. For off-grid power production, the Savonius-type vertical axis turbine is the easiest to design and manufacture. This proposal uses three-dimensional computational fluid dynamics (CFD) simulations to measure the considerable interaction and complexity of turbine blades. Savonius hydrokinetic turbine (SHKT) performance is affected by a blockage in the river, canals, and waterways. Putting a large object in a water channel causes water obstruction and raises local free stream velocity. The blockage correction factor or velocity increment measures the impact of velocity on the performance. SHKT performance is evaluated by comparing power coefficient (Cp) with tip-speed ratio (TSR) at various blockage ratios. The maximum Cp was obtained at a TSR of 1.1 with a blockage ratio of 45%, whereas TSR of 0.8 yielded the highest Cp without blockage. The greatest Cp of 0.29 was obtained with a 45% blockage ratio compared to a Cp max of 0.18 without a blockage.

Keywords: savonius hydrokinetic turbine, blockage ratio, vertical axis turbine, power coefficient

Procedia PDF Downloads 108

Authors: Mahmoud Lot

Abstract:

In this article, we will discuss the solution of elliptic optimal control problem. First, by using the nite element method, we obtain the discrete form of the problem. The obtained discrete problem is actually a large scale constrained optimization problem. Solving this optimization problem with traditional methods is difficult and requires a lot of CPU time and memory. But split Bergman method converts the constrained problem to an unconstrained, and hence it saves time and memory requirement. Then we use the split Bregman method for solving this problem, and examples show the speed and accuracy of split Bregman methods for solving these types of problems. We also use the SQP method for solving the examples and compare with the split Bregman method.

Keywords: Split Bregman Method, optimal control with elliptic partial differential equation constraint, finite element method

Procedia PDF Downloads 130

Authors: Xiangrong Liu, Chuanhui Xiong

Abstract:

With the concern of large pollution emissions from coal-fired power plants and new commitment to green energy, global solar power industry was emerging recently. Due to the advanced technology, the price of solar photovoltaic(PV) module was reduced at a fast rate, which arose an interesting but challenge question to solar supply chain. This research is modeling the inventory strategies for a PV supply chain with a PV manufacturer, an assembler and an end customer. Through characterizing the manufacturer's and PV assembler's optimal decision in decentralized and centralized situation, this study shed light on how to improve supply chain performance through parameters setting in the contract design. The results suggest the assembler to lower the optimal stock level gradually each period before price reduction and set up a newsvendor base-stock policy in all periods after price reduction. As to the PV module manufacturer, a non-stationary produce-up-to policy is optimal.

Keywords: photovoltaic, supply chain, inventory policy, base-stock policy

Procedia PDF Downloads 328

Authors: Miguel A. Orellana, Sonia E. Ruiz, Juan Bojórquez

Abstract:

Optimal load factors (dead, live and seismic) used for the design of buildings may be different, depending of the seismic ground motion characteristics to which they are subjected, which are closely related to the type of soil conditions where the structures are located. The influence of the type of soil on those load factors, is analyzed in the present study. A methodology that is useful for establishing optimal load factors that minimize the cost over the life cycle of the structure is employed; and as a restriction, it is established that the probability of structural failure must be less than or equal to a prescribed value. The life-cycle cost model used here includes different types of costs. The optimization methodology is applied to two groups of reinforced concrete buildings. One set (consisting on 4-, 7-, and 10-story buildings) is located on firm ground (with a dominant period Ts=0.5 s) and the other (consisting on 6-, 12-, and 16-story buildings) on soft soil (Ts=1.5 s) of Mexico City. Each group of buildings is designed using different combinations of load factors. The statistics of the maximums inter-story drifts (associated with the structural capacity) are found by means of incremental dynamic analyses. The buildings located on firm zone are analyzed under the action of 10 strong seismic records, and those on soft zone, under 13 strong ground motions. All the motions correspond to seismic subduction events with magnitudes M=6.9. Then, the structural damage and the expected total costs, corresponding to each group of buildings, are estimated. It is concluded that the optimal load factors combination is different for the design of buildings located on firm ground than that for buildings located on soft soil.

Keywords: life-cycle cost, optimal load factors, reinforced concrete buildings, total costs, type of soil

Procedia PDF Downloads 288

Authors: Norm Josephy, Lucy Kimball, Victoria Steblovskaya

Abstract:

Hedging of a portfolio of European options under proportional transaction costs is considered. Our discrete time financial market model extends the binomial market model with transaction costs to the case where the underlying stock price ratios are distributed over a bounded interval rather than over a two-point set. An optimal hedging strategy is chosen from a set of admissible non-self-financing hedging strategies. Our approach to optimal hedging of a portfolio of options is based on theoretical foundation that includes determination of a no-arbitrage option price interval as well as on properties of the non-self-financing strategies and their residuals. A computational algorithm for optimizing an investor relevant criterion over the set of admissible non-self-financing hedging strategies is developed. Applicability of our approach is demonstrated using both simulated data and real market data.

Keywords: extended binomial model, non-self-financing hedging, optimization, proportional transaction costs

Procedia PDF Downloads 232

Authors: Reza Bahboodian

Abstract:

One of the most important factors in the use of construction machinery is the fuel consumption cost of this equipment. The use of diesel engines in off-road vehicles is an important source of nitrogen oxides and particulate matter. Emissions of nitrogen oxides and particulate matter 10 in off-road vehicles (construction and mining) may be high. Due to the high cost of fuel, it is necessary to minimize fuel consumption. Factors affecting the fuel consumption of these cars are very diverse. Climate changes such as changes in pressure, temperature, humidity, fuel type selection, type of gearbox used in the car are effective in fuel consumption and pollution, and engine efficiency. In this paper, methods for reducing fuel consumption and pollutants by considering valid European and European standards are examined based on new methods such as hybridization, optimal gear change, adding hydrogen to diesel fuel, determining optimal working fluids, and using oxidation catalysts.

Keywords: improve fuel consumption, construction machinery, pollutant reduction, determining the optimal working cycle

Procedia PDF Downloads 136

Authors: Maria Debora Braga, Luigi Riso, Maria Grazia Zoia

Abstract:

Risk-based approaches to asset allocation are portfolio construction methods that do not rely on the input of expected returns for the asset classes in the investment universe and only use risk information. They include the Minimum Variance Strategy (MV strategy), the traditional (volatility-based) Risk Parity Strategy (SRP strategy), the Most Diversified Portfolio Strategy (MDP strategy) and, for many, the Equally Weighted Strategy (EW strategy). All the mentioned approaches were based on portfolio volatility as a reference risk measure but in 2023, the Kurtosis-based Risk Parity strategy (KRP strategy) and the Minimum Kurtosis strategy (MK strategy) were introduced. Understandably, they used the fourth root of the portfolio-fourth moment as a proxy for portfolio kurtosis to work with a homogeneous function of degree one. This paper contributes mainly theoretically and methodologically to the framework of risk-based asset allocation approaches with two steps forward. First, a new and more flexible objective function considering a linear combination (with positive coefficients that sum to one) of portfolio volatility and portfolio kurtosis is used to alternatively serve a risk minimization goal or a homogeneous risk distribution goal. Hence, the new basic idea consists in extending the achievement of typical risk-based approaches’ goals to a combined risk measure. To give the rationale behind operating with such a risk measure, it is worth remembering that volatility and kurtosis are expressions of uncertainty, to be read as dispersion of returns around the mean and that both preserve adherence to a symmetric framework and consideration for the entire returns distribution as well, but also that they differ from each other in that the former captures the “normal” / “ordinary” dispersion of returns, while the latter is able to catch the huge dispersion. Therefore, the combined risk metric that uses two individual metrics focused on the same phenomena but differently sensitive to its intensity allows the asset manager to express, in the context of an objective function by varying the “relevance coefficient” associated with the individual metrics, alternatively, a wide set of plausible investment goals for the portfolio construction process while serving investors differently concerned with tail risk and traditional risk. Since this is the first study that also implements risk-based approaches using a combined risk measure, it becomes of fundamental importance to investigate the portfolio effects triggered by this innovation. The paper also offers a second contribution. Until the recent advent of the MK strategy and the KRP strategy, efforts to highlight interesting properties of risk-based approaches were inevitably directed towards the traditional MV strategy and SRP strategy. Previous literature established an increasing order in terms of portfolio volatility, starting from the MV strategy, through the SRP strategy, arriving at the EQ strategy and provided the mathematical proof for the “equalization effect” concerning marginal risks when the MV strategy is considered, and concerning risk contributions when the SRP strategy is considered. Regarding the validity of similar conclusions when referring to the MK strategy and KRP strategy, the development of a theoretical demonstration is still pending. This paper fills this gap.

Keywords: risk parity, portfolio kurtosis, risk diversification, asset allocation

Procedia PDF Downloads 45

Authors: Alvaro Callejas-Ramos, Lorena Alvarez-Perez, Alexander Benitez-Buenache, Anibal R. Figueiras-Vidal

Abstract:

This contribution presents a promising formulation which allows to extend the principled binary rebalancing procedures, also known as neutral re-balancing mechanisms in the sense that they do not alter the likelihood ratio

Keywords: Bregman divergences, imbalanced multiclass classifi-cation, informed re-balancing, invariant likelihood ratio

Procedia PDF Downloads 187

Authors: Amir Hossein Ghaffari Nejad, Forouhar Ferdowsi, Reza Mashhadi

Abstract:

In the interest-free banking system of Iran, the savings of society are in the form of bank deposits, and banks using the Islamic contracts, allocate the resources to applicants for obtaining facilities and credit. In the meantime, the central bank, with the aim of introducing monetary policy, determines the maximum interest rate on bank deposits in terms of macroeconomic requirements. But in recent years, the country's economic constraints with the stagflation and the consequence of the institutional weaknesses of the financial market of Iran have resulted in massive disturbances in the balance sheet of the banking system, resulting in a period of mismatch maturity in the banks' assets and liabilities and the implementation of a Ponzi game. This issue caused determination of the interest rate in long-term bank deposit contracts to be associated with non-observance of the maximum rate set by the central bank. The result of this condition was in the allocation of new sources of equipment to meet past commitments towards the old depositors and, as a result, a significant part of the supply of equipment was leaked out of the facilitating cycle and credit crunch emerged. The purpose of this study is to identify the most important factors affecting the occurrence of non-confirmatory financial banking behavior using data from 19 public and private banks of Iran. For this purpose, the causes of this non-confirmatory behavior of banks have been investigated using the panel vector autoregression method (PVAR) for the period of 2007-2015. Granger's causality test results suggest that the return of parallel markets for bank deposits, non-performing loans and the high share of the ratio of facilities to banks' deposits are all a cause of the formation of non-confirmatory behavior. Also, according to the results of impulse response functions and variance decomposition, NPL and the ratio of facilities to deposits have the highest long-term effect and also have a high contribution to explaining the changes in banks' non-confirmatory behavior in determining the interest rate on deposits.

Keywords: non-conformity behavior, Ponzi Game, panel vector autoregression, nonperforming loans

Procedia PDF Downloads 186

Authors: Pouya Molana, Zeinab Alimohammadi

Abstract:

Determining wind wave characteristics is essential for implementing projects related to Coastal and Marine engineering such as designing coastal and marine structures, estimating sediment transport rates and coastal erosion rates in order to predict significant wave height (H_s), this study applies the third generation spectral wave model, Mike 21 SW, along with CEM model. For SW model calibration and verification, two data sets of meteorology and wave spectroscopy are used. The model was exposed to time-varying wind power and the results showed that difference ratio mean, standard deviation of difference ratio and correlation coefficient in SW model for H_s parameter are 1.102, 0.279 and 0.983, respectively. Whereas, the difference ratio mean, standard deviation and correlation coefficient in The Choice Experiment Method (CEM) for the same parameter are 0.869, 1.317 and 0.8359, respectively. Comparing these expected results it is revealed that the Choice Experiment Method CEM has more errors in comparison to MIKE 21 SW third generation spectral wave model and higher correlation coefficient does not necessarily mean higher accuracy.

Keywords: MIKE 21 SW, CEM method, significant wave height, difference ratio

Procedia PDF Downloads 380

Authors: Sunantha Teyarachakul

Abstract:

We consider the worker-learning Newsvendor Model, under the case of lost-sales for unmet demand, with the research objective of proposing the cost-minimization order policy and lot size, scheduled to arrive at the beginning of the selling-period. In general, the New Vendor Model is used to find the optimal order quantity for the perishable items such as fashionable products or those with seasonal demand or short-life cycles. Technically, it is used when the product demand is stochastic and available for the single selling-season, and when there is only a one time opportunity for the vendor to purchase, with possibly of long ordering lead-times. Our work differs from the classical Newsvendor Model in that we incorporate the human factor (specifically worker learning) and its influence over the costs of processing units into the model. We describe this by using the well-known Wright’s Learning Curve. Most of the assumptions of the classical New Vendor Model are still maintained in our work, such as the constant per-unit cost of leftover and shortage, the zero initial inventory, as well as the continuous time. Our problem is challenging in the way that the best order quantity in the classical model, which is balancing the over-stocking and under-stocking costs, is no longer optimal. Specifically, when adding the cost-saving from worker learning to such expected total cost, the convexity of the cost function will likely not be maintained. This has called for a new way in determining the optimal order policy. In response to such challenges, we found a number of characteristics related to the expected cost function and its derivatives, which we then used in formulating the optimal ordering policy. Examples of such characteristics are; the optimal order quantity exists and is unique if the demand follows a Uniform Distribution; if the demand follows the Beta Distribution with some specific properties of its parameters, the second derivative of the expected cost function has at most two roots; and there exists the specific level of lot size that satisfies the first order condition. Our research results could be helpful for analysis of supply chain coordination and of the periodic review system for similar problems.

Keywords: inventory management, Newsvendor model, order policy, worker learning

Procedia PDF Downloads 393

Authors: Ping Li, Bing Feng, Junpu Zhao, Xudong Xie, Dangpeng Xu, Kuixing Zheng, Qihua Zhu, Xiaofeng Wei

Abstract:

In laser driven inertial confinement fusion (ICF), the control of the temporal shape of the laser pulse is a key point to ensure an optimal interaction of laser-target. One of the main difficulties in controlling the temporal shape is the foot part control accuracy of high contrast pulse. Based on the analysis of pulse perturbation in the process of amplification and frequency conversion in high power lasers, an approach of beam spatio-temporal multiplexing is proposed to improve the control precision of high contrast pulse. In the approach, the foot and peak part of high contrast pulse are controlled independently, which propagate separately in the near field, and combine together in the far field to form the required pulse shape. For high contrast pulse, the beam area ratio of the two parts is optimized, and then beam fluence and intensity of the foot part are increased, which brings great convenience to the control of pulse. Meanwhile, the near field distribution of the two parts is also carefully designed to make sure their F-numbers are the same, which is another important parameter for laser-target interaction. The integrated calculation results show that for a pulse with a contrast of up to 500, the deviation of foot part can be improved from 20% to 5% by using beam spatio-temporal multiplexing approach with beam area ratio of 1/20, which is almost the same as that of peak part. The research results are expected to bring a breakthrough in power balance of high power laser facility.

Keywords: inertial confinement fusion, laser pulse control, beam spatio-temporal multiplexing, power balance

Procedia PDF Downloads 134

Authors: W. Mughees, M. Alahmad

Abstract:

Water is the most significant entity that controls local and global development. For the Gulf region, especially Saudi Arabia, with its limited potable water resources, the potential of the fresh water problem is highly considerable. In this research, the study involves the design and analysis of pinch-based water/wastewater networks. Multiple water/wastewater networks were developed using pinch analysis involving direct recycle/material recycle method. Property-integration technique was adopted to carry out direct recycle method. Particularly, a petroleum refinery was considered as a case study. In direct recycle methodology, minimum water discharge and minimum fresh water resource targets were estimated. Re-design (or retrofitting) of water allocation in the networks was undertaken. Chemical Oxygen Demand (COD) and hardness properties were taken as pollutants. This research was based on single and double contaminant approach for COD and hardness and the amount of fresh water was reduced from 340.0 m3/h to 149.0 m3/h (43.8%), 208.0 m3/h (61.18%) respectively. While regarding double contaminant approach, reduction in fresh water demand was 132.0 m3/h (38.8%). The required analysis was also carried out using mathematical programming technique. Operating software such as LINGO was used for these studies which have verified the graphical method results in a valuable and accurate way. Among the multiple water networks, the one possible water allocation network was developed based on mass exchange.

Keywords: minimization, water pinch, water management, pollution prevention

Procedia PDF Downloads 457

Authors: Arun Kumar R. K. Gothra, Hasan Alhakamy

Abstract:

With increasing expectations and demands for warehousing and distribution, Warehouse Solution Incorporated in Victoria has been looking at ways to improve on its business processes to maintain the competitive edge. To maintain the provision of high quality service standards at competitive and affordable prices, improvements in the logistics management are necessary. One such avenue is to make efficient use of space available in the warehouse. This paper is based on a study of the collaboration of Warehouse Solution Inc with Dandenong Distribution Centre (DDC) to solve congestion problem and enhance efficiency of the whole warehouse activities.

Keywords: space optimization, optimal utilization, warehouse, DDC

Procedia PDF Downloads 575

Authors: Mohamed Ben Amar, Najib Souissi, Chedly Bradai

Abstract:

A Taguchi design investigation has been made into the relationship between the ductility and process variables in a squeeze cast 2017A wrought aluminium alloy. The considered process parameters were: squeeze pressure, melt temperature and die preheating temperature. An orthogonal array (OA), main effect, signal-to-noise (S/N) ratio, and the analysis of variance (ANOVA) are employed to analyze the effect of casting parameters. The results have shown that the selected parameters significantly affect the ductility of 2017A wrought Al alloy castings. Optimal squeeze cast process parameters were provided to illustrate the proposed approach and the results were proven to be trustworthy through practical experiments.

Keywords: Taguchi method, squeeze casting, process parameters, ductility, microstructure

Procedia PDF Downloads 376

Authors: Chandragouda R. Patil, K. S. Jagadeesh, S. D. Kalolgi

Abstract:

Biofertilizers containing live microbial cells can mobilize one or more nutrients to plants when applied to either seed or rhizosphere. They form an integral part of nutrient management strategies for sustainable production of agricultural crops. Annually, about 22 tons of lignite-based biofertilizers are being produced and supplied to farmers at the Institute of Organic Farming, University of Agricultural Sciences, Dharwad, Karnataka state India. Although carrier based biofertilizers are common, they have shorter shelf life, poor quality, high contamination, unpredictable field performance and high cost of solid carriers. Hence, liquid formulations are being developed to increase their efficacy and broaden field applicability. An attempt was made to develop liquid formulation of strains of Rhizobium NC-92 (Groundnut), Azospirillum ACD15 both nitrogen-fixing biofertilizers and Pseudomonas striata an efficient P-solubilizing bacteria (PSB). Different concentration of amendments such as additives (glycerol and polyethylene glycol), adjuvants (carboxyl methyl cellulose), gum arabica (GA), surfactant (polysorbate) and trehalose specifically for Azospirillum were found essential. Combinations of formulations of Rhizobium and PSB for groundnut and Azospirillum and PSB for maize were evaluated under field conditions to determine the optimum level of inoculum required. Each biofertilizer strain was inoculated at the rate of 2, 4, 8 ml per kg of seeds and the efficacy of each formulation both individually and in combinations was evaluated against the lignite-based formulation at the rate of 20 g each per kg seeds and a un-inoculated set was included to compare the inoculation effect. The field experiment had 17 treatments in three replicates and the best level of inoculum was decided based on net returns and cost: benefit ratio. In peanut, the combination of 4 ml of Rhizobium and 2 ml of PSB resulted in the highest net returns and higher cost to benefit ratio of 1:2.98 followed by treatment with a combination of 2 ml per kg each of Rhizobium and PSB with a B;C ratio of 1:2.84. The benefits in terms of net returns were to the extent of 16 percent due to inoculation with lignite based formulations while it was up to 48 percent due to the best combination of liquid biofertilizers. In maize combination of liquid formulations consisting of 4 ml of Azospirillum and 2 ml of PSB resulted in the highest net returns; about 53 percent higher than the un-inoculated control and 20 percent higher than the treatment with lignite based formulation. In both the crops inoculation with lignite based formulations significantly increased the net returns over un-inoculated control while levels higher or lesser than 4 ml of Rhizobium and Azospirillum and higher or lesser than 2 ml of PSB were not economical and hence not optimal for these two crops.

Keywords: Rhizobium, Azospirillum, phosphate solubilizing bacteria, liquid formulation, benefit-cost ratio

Procedia PDF Downloads 472

Authors: Swapnil V. Pakhale, Sunil S. Bhagwat

Abstract:

Three phase partitioning (TPP) an efficient bioseparation technique integrates the concentration and partial purification step of downstream processing of a biomolecule. Three Phase Partitioning is reported here for the first time for purification of Serratiopeptidase from fermentation broths of Serratia marcescens NRRL B-23112. The influence of various salts and solvents, Concentration of ammonium sulphate (20-60% w/v), Crude extract to t-butanol ratio (1:0.5-1:2.5) and system pH on Serratiopeptidase partitioning were investigated and optimum conditions for TPP were obtained in order to enhance the degree of purification and activity recovery of Serratiopeptidase. Under the optimal conditions of TPP, serratiopeptidase has been efficiently separated and concentrated with maximum recovery and degree of purification of 95.70% and 4.95 fold respectively. The present study shows TPP as an attractive downstream process for the purification of serratiopeptidase.

Keywords: three phase partitioning, serratiopeptidase, serratia marcescens NRRL B-23112, t-butanol, bioseparation

Procedia PDF Downloads 523

Authors: Khaled Ben Oualid Medani, Samir Sayah

Abstract:

The Optimal Reactive Power Dispatch (ORPD) problem has been solved and analysed usually in the normal conditions. However, network collapses appear in contingency conditions. In this paper, ORPD under several contingencies is presented using the proposed method WOA. To ensure viability of the power system in contingency conditions, several critical cases are simulated in order to prevent and prepare the power system to face such situations. The results obtained are carried out in IEEE 30 bus test system for the solution of ORPD problem in which control of bus voltages, tap position of transformers and reactive power sources are involved. Moreover, another method, namely, Particle Swarm Optimization with Time Varying Acceleration Coefficient (PSO-TVAC) has been compared with the proposed technique. Simulation results indicate that the proposed WOA gives remarkable solution in terms of effectiveness in case of outages.

Keywords: optimal reactive power dispatch, power system analysis, real power loss minimization, contingency condition, metaheuristic technique, whale optimization algorithm

Procedia PDF Downloads 101

Authors: Riko Wahyudi, Rezky Lasekti Wicaksono, Ayu Satya Damayanti, Ridhasepta Multi Kenrosa

Abstract:

Implementing Forest Management Unit (FMU) is considered as the best solution for forest management in developing countries. However, when FMU has been formed, many parties then blame the FMU and assume it is not working on. Currently, there are two main issues that make FMU not be functional i.e. institutional and financial issues. This paper is addressing financial issues to make FMUs in Aceh Province can be functional. A mixed financing scheme is proposed here, both direct and indirect financing. The direct financing scheme derived from two components i.e. public funds and businesses. Non-tax instruments of intergovernmental fiscal transfer (IFT) system and FMU’s businesses are assessed. Meanwhile, indirect financing scheme is conducted by assessing public funds within villages around forest estate as about 50% of total villages in Aceh Province are located surrounding forest estate. Potential instruments under IFT system are forest and mining utilization royalties. In order to make these instruments become direct financing for FMU, interventions on allocation and distribution aspects of them are conducted. In the allocation aspect, alteration in proportion of allocation is required as the authority to manage forest has shifted from district to province. In the distribution aspect, Government of Aceh can earmark usage of the funds for FMUs. International funds for climate change also encouraged to be domesticated and then channeled through these instruments or new instrument under public finance system in Indonesia. Based on FMU’s businesses both from forest products and forest services, FMU can impose non-tax fees for each forest product and service utilization. However, for doing business, the FMU need to be a Public Service Agency (PSA). With this status, FMU can directly utilize the non-tax fees without transferring them to the state treasury. FMU only need to report the fees to Ministry of Finance. Meanwhile, indirect financing scheme is conducted by empowering villages around forest estate as villages in Aceh Province is receiving average village fund of IDR 800 million per village in 2017 and the funds will continue to increase in subsequent years. These schemes should be encouraged in parallel to establish a mixed financing scheme in order to ensure sustainable financing for FMU in Aceh Province, Indonesia.

Keywords: forest management, public funds, mixed financing, village

Procedia PDF Downloads 169