Search results for: technology acceptance model.

Authors: Ketan Naik, P. H. Bhathawala

Abstract:

The purpose of this work is to develop a mathematical model of Human Cardiovascular System using lumped parameter method. The model is divided in three parts: Systemic Circulation, Pulmonary Circulation and the Heart. The established mathematical model has been simulated by MATLAB software. The innovation of this study is in describing the system based on the vessel diameters and simulating mathematical equations with active electrical elements. Terminology of human physical body and required physical data like vessel’s radius, thickness etc., which are required to calculate circuit parameters like resistance, inductance and capacitance, are proceeds from well-known medical books. The developed model is useful to understand the anatomic of human cardiovascular system and related syndromes. The model is deal with vessel’s pressure and blood flow at certain time.

Keywords: Cardiovascular system, lumped parameter method, mathematical modeling, simulation.

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Authors: B. I. Zhumagaliyev, L. Sh. Balgabayeva, G. S. Nabiyeva, B. A. Tulegenova, P. Oralkhan, B. S. Kalenova, S. S. Akhmetov

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The article describes an approach to build competence in research of Bachelor and Master, which is now an important feature of modern specialist in the field of engineering. We provide an example of methodical teaching methods with the research aspect, including the formulation of the problem, the method of conducting experiments, analysis of the results. Implementation of methods allows the student to better consolidate their knowledge and skills at the same time to get research. Knowledge on the part of the media requires some training in the subject area and teaching methods.

Keywords: Professional competence, its model–specialties, teaching methods, educational technology, decision making.

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Authors: Niaz Latif, Joy L. Colwell

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Following implementation of a master’s level graduate degree program in technology, a research-based assessment of the program was undertaken to determine how well the program met its goals and objectives, and the impact of the degree program on the objectives and the needs of its graduates. Upon review of the survey data, it was concluded that the program was meeting its goals and objectives, and that the directed project option should be encouraged.

Keywords: Master’s Degree, Graduate Program, Assessment.

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Authors: Parvinder S. Sandhu, Hardeep Singh

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The requirement to improve software productivity has promoted the research on software metric technology. There are metrics for identifying the quality of reusable components but the function that makes use of these metrics to find reusability of software components is still not clear. These metrics if identified in the design phase or even in the coding phase can help us to reduce the rework by improving quality of reuse of the component and hence improve the productivity due to probabilistic increase in the reuse level. CK metric suit is most widely used metrics for the objectoriented (OO) software; we critically analyzed the CK metrics, tried to remove the inconsistencies and devised the framework of metrics to obtain the structural analysis of OO-based software components. Neural network can learn new relationships with new input data and can be used to refine fuzzy rules to create fuzzy adaptive system. Hence, Neuro-fuzzy inference engine can be used to evaluate the reusability of OO-based component using its structural attributes as inputs. In this paper, an algorithm has been proposed in which the inputs can be given to Neuro-fuzzy system in form of tuned WMC, DIT, NOC, CBO , LCOM values of the OO software component and output can be obtained in terms of reusability. The developed reusability model has produced high precision results as expected by the human experts.

Keywords: CK-Metric, ID3, Neuro-fuzzy, Reusability.

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Authors: Eakong Atiptamvaree, Twittie Senivongse

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Process-oriented software development is a new software development paradigm in which software design is modeled by a business process which is in turn translated into a process execution language for execution. The building blocks of this paradigm are software units that are composed together to work according to the flow of the business process. This new paradigm still exhibits the characteristic of the applications built with the traditional software component technology. This paper discusses an approach to apply a traditional technique for software component fabrication to the design of process-oriented software units, called process components. These process components result from decomposing a business process of a particular application domain into subprocesses, and these process components can be reused to design the business processes of other application domains. The decomposition considers five managerial goals, namely cost effectiveness, ease of assembly, customization, reusability, and maintainability. The paper presents how to design or decompose process components from a business process model and measure some technical features of the design that would affect the managerial goals. A comparison between the measurement values from different designs can tell which process component design is more appropriate for the managerial goals that have been set. The proposed approach can be applied in Web Services environment which accommodates process-oriented software development.

Keywords: Business Process Model, Managerial Goals, ProcessComponent.

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Authors: Oke Oktavianty, Tadayuki Kyoutani, Shigeyuki Haruyama, Junji Kaneko, Ken Kaminishi

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Modelica has many advantages and it is very useful in modeling and simulation especially for the multi-domain with a complex technical system. However, the big obstacle for a beginner is to understand the basic concept and to build a new system model for a real system. In order to understand how to solve the simple circuit model by hand translation and to get a better understanding of how modelica works, we provide a detailed explanation about solver ordering system in horizontal and vertical sorting and make some proposals for improvement. In this study, some difficulties in using modelica software with the original concept and the comparison with Finite Element Method (FEM) approach is discussed. We also present our textual modeling approach using FEM concept for acausal and causal model construction. Furthermore, simulation results are provided that demonstrate the comparison between using textual modeling with original coding in modelica and FEM concept.

Keywords: FEM, acausal model, modelica, horizontal and vertical sorting.

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Authors: Amel Grissa-Touzi, Minyar Sassi

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Conception is the primordial part in the realization of a computer system. Several tools have been used to help inventors to describe their software. These tools knew a big success in the relational databases domain since they permit to generate SQL script modeling the database from an Entity/Association model. However, with the evolution of the computer domain, the relational databases proved their limits and object-relational model became used more and more. Tools of present conception don't support all new concepts introduced by this model and the syntax of the SQL3 language. We propose in this paper a tool of help to the conception and implementation of object-relational databases called «NAVIGTOOLS" that allows the user to generate script modeling its database in SQL3 language. This tool bases itself on the Entity/Association and navigational model for modeling the object-relational databases.

Keywords: Abstract Data Table, Navigational model, Objectrelational databases, References.

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Authors: Simeon Karafolas, Maciej Woźniak

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Guarantee schemes have been introduced in the economic and financial system as response to difficulties of SMEs for the access to the banking credit. Guarantee companies first appeared at the 19e century. Last wave of the development of those schemes appeared at the decade of 1990’s in particular to the new countries members of the EU. Guarantee schemes are presented as public owned guarantee companies, private ones mainly through a mutual form, but also under a mixed form. The paper based on guarantee schemes of five countries tries to investigate the differences that can exist within different guarantee companies. This investigation is based on some indicators that are time of response to the demand of guarantee, threshold of guarantee, acceptance of applications for guarantee, jobs created or saved and bureaucratic issues. It appears that guarantee companies have not the same reaction to the demand of SMEs and some of them are much more active.

Keywords: DIFASS, Guarantees, Loans.

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Authors: Min Kyung An

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In this paper, we study the data collection problem in Wireless Sensor Networks (WSNs) adopting the two interference models: The graph model and the more realistic physical interference model known as Signal-to-Interference-Noise-Ratio (SINR). The main issue of the problem is to compute schedules with the minimum number of timeslots, that is, to compute the minimum latency schedules, such that data from every node can be collected without any collision or interference to a sink node. While existing works studied the problem with unit-sized and unbounded-sized message models, we investigate the problem with the bounded-sized message model, and introduce a constant factor approximation algorithm. To the best known of our knowledge, our result is the first result of the data collection problem with bounded-sized model in both interference models.

Keywords: Data collection, collision-free, interference-free, physical interference model, SINR, approximation, bounded-sized message model, wireless sensor networks, WSN.

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Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

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A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic.

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Authors: A. Bobirca, A. Draghici

Abstract:

The objective of this paper is to construct a creativity composite index designed to capture the growing role of creativity in driving economic and social development for the 27 European Union countries. The paper proposes a new approach for the measurement of EU-27 creative potential and for determining its capacity to attract and develop creative human capital. We apply a modified version of the 3T model developed by Richard Florida and Irene Tinagli for constructing a Euro-Creativity Index. The resulting indexes establish a quantitative base for policy makers, supporting their efforts to determine the contribution of creativity to economic development.

Keywords: European Creativity Index, talent, technology, tolerance

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Authors: Edlira Donefski, Lorenc Ekonomi, Tina Donefski

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Edgeworth approximation is one of the most important statistical methods that has a considered contribution in the reduction of the sum of standard deviation of the independent variables’ coefficients in a Quantile Regression Model. This model estimates the conditional median or other quantiles. In this paper, we have applied approximating statistical methods in an economical problem. We have created and generated a quantile regression model to see how the profit gained is connected with the realized sales of the cosmetic products in a real data, taken from a local business. The Linear Regression of the generated profit and the realized sales was not free of autocorrelation and heteroscedasticity, so this is the reason that we have used this model instead of Linear Regression. Our aim is to analyze in more details the relation between the variables taken into study: the profit and the finalized sales and how to minimize the standard errors of the independent variable involved in this study, the level of realized sales. The statistical methods that we have applied in our work are Edgeworth Approximation for Independent and Identical distributed (IID) cases, Bootstrap version of the Model and the Edgeworth approximation for Bootstrap Quantile Regression Model. The graphics and the results that we have presented here identify the best approximating model of our study.

Keywords: Bootstrap, Edgeworth approximation, independent and Identical distributed, quantile.

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Authors: Huang Shengqin, Xiao Hong

Abstract:

LES with mixed subgrid-scale model has been used to simulate aerodynamic performance of hypersonic configuration. The simulation was conducted to replicate conditions and geometry of a model which has been previously tested. LES Model has been successful in predict pressure coefficient with the max error 1.5% besides afterbody. But in the high Mach number condition, it is poor in predict ability and product 12.5% error. The calculation error are mainly conducted by the distribution swirling. The fact of poor ability in the high Mach number and afterbody region indicated that the mixed subgrid-scale model should be improved in large eddied especially in hypersonic separate region. In the condition of attach and sideslip flight, the calculation results have waves. LES are successful in the prediction the pressure wave in hypersonic flow.

Keywords: Hypersonic, LES, mixed Subgrid-scale model, experiment.

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Authors: Kwok Tak Kit

Abstract:

A smart city is an urban setting which effectively applies technology to enhance the benefits and provides solution to the shortcoming of urbanization for its citizens while the internet of things (loT) is to connect everything embedded with electronics, software, and sensors to the internet so as to enable them to collect and exchange data. Smart city development encompasses the development and application of IoT technology and prepares for the next generation of connectivity. The governments in the major developed cities and countries across the world already started the race to adopt the IoT technology to transform their cities into smart cities in coming few years. The development of smart city definitely can assist to tackle the problems which impede the quality of life of their citizens and the hindrance of the long-term challenges of sustainability and impacts from pollution. This paper is aims to outline the adoption of IoT in different key sectors in the Singapore and describe the revolution of IoT and its adoption in the smart city.

Keywords: Smart city, internet of things, sustainability, innovation.

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Authors: M. Sedighizadeh, A. Rezazadeh

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Due to the increasing penetration of wind energy, it is necessary to possess design tools that are able to simulate the impact of these installations in utility grids. In order to provide a net contribution to this issue a detailed wind park model has been developed and is briefly presented. However, the computational costs associated with the performance of such a detailed model in describing the behavior of a wind park composed by a considerable number of units may render its practical application very difficult. To overcome this problem integral manifolds theory has been applied to reduce the order of the detailed wind park model, and therefore create the conditions for the development of a dynamic equivalent which is able to retain the relevant dynamics with respect to the existing a.c. system. In this paper integral manifold method has been introduced for order reduction. Simulation results of the proposed method represents that integral manifold method results fit the detailed model results with a higher precision than singular perturbation method.

Keywords: Wind, Reduced Order, Integral Manifold.

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Authors: Hemant Kumawat

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Axial flow fans, while incapable of developing high pressures, they are well suitable for handling large volumes of air at relatively low pressures. In general, they are low in cost and possess good efficiency, and can have blades of airfoil shape. Axial flow fans show good efficiencies, and can operate at high static pressures if such operation is necessary. Our objective is to model and analyze the flow through AXIAL FANS using CFD Software and draw inference from the obtained results, so as to get maximum efficiency. The performance of an axial fan was simulated using CFD and the effect of variation of different parameters such as the blade number, noise level, velocity, temperature and pressure distribution on the blade surface was studied. This paper aims to present a final 3D CAD model of axial flow fan. Adapting this model to the available components in the market, the first optimization was done. After this step, CFX flow solver is used to do the necessary numerical analyses on the aerodynamic performance of this model. This analysis results in a final optimization of the proposed 3D model which is presented in this article.

Keywords: ANSYS CFX, Axial Fan, Computational Fluid Dynamics (CFD), Optimization.

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Authors: Rujira Kongnuy, Puntani Pongsumpun, I-Ming Tang

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Dengue fever is an important human arboviral disease. Outbreaks are now reported quite often from many parts of the world. The number of cases involving pregnant women and infant cases are increasing every year. The illness is often severe and complications may occur. Deaths often occur because of the difficulties in early diagnosis and in the improper management of the diseases. Dengue antibodies from pregnant women are passed on to infants and this protects the infants from dengue infections. Antibodies from the mother are transferred to the fetus when it is still in the womb. In this study, we formulate a mathematical model to describe the transmission of this disease in pregnant women. The model is formulated by dividing the human population into pregnant women and non-pregnant human (men and non-pregnant women). Each class is subdivided into susceptible (S), infectious (I) and recovered (R) subclasses. We apply standard dynamical analysis to our model. Conditions for the local stability of the equilibrium points are given. The numerical simulations are shown. The bifurcation diagrams of our model are discussed. The control of this disease in pregnant women is discussed in terms of the threshold conditions.

Keywords: Dengue disease, local stability, mathematical model, pregnancy.

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Authors: Jaroslav Krutil, František Pochylý, Simona Fialová, Vladimír Habán

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A mathematical model of the additional effects of the liquid in the hydrodynamic gap is presented in the paper. An incompressible viscous fluid is considered. Based on computational modeling are determined the matrices of mass, stiffness and damping. The mathematical model is experimentally verified.

Keywords: Computational modeling, mathematical model, hydrodynamic gap, matrices of mass, stiffness and damping.

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Authors: Manar AlJazzazi, Mohammed Rawashdeh, Tariq Alshawaheen, Aktham Malkawi

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This paper is a part of research, in which the way the biomedical engineers follow in their work is analyzed. The goal of this paper is to present a method for specification of user requirements in the medical devices maintenance process. Data Gathering Methods, Research Model Phases and Descriptive Analysis is presented. These technology and verification rules can be implemented in Medical devices maintenance management process to the maintenance process.

Keywords: Quality Function Deployment (QFD), User - requirements approach.

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Authors: Babak H. Tabrizi, Seyed Farid Ghaderi

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Concurrent planning of project scheduling and material ordering can provide more flexibility to the project scheduling problem, as the project execution costs can be enhanced. Hence, the issue has been taken into account in this paper. To do so, a mixed-integer mathematical model is developed which considers the aforementioned flexibility, in addition to the materials quantity discount and space availability restrictions. Moreover, the activities duration has been treated as decision variables. Finally, the efficiency of the proposed model is tested by different instances. Additionally, the influence of the aforementioned parameters is investigated on the model performance.

Keywords: Material ordering, project scheduling, quantity discount, space availability.

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Authors: Vesna Bosilj Vuksic, Mirjana Pejic Bach

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Business process management (BPM) has become widely accepted within business community as a means for improving business performance. However, it is of the highest importance to incorporate BPM as part of the curriculum at the university level education in order to achieve the appropriate acceptance of the method. Goal of the paper is to determine the current state of education in business process management (BPM) at the Croatian universities and abroad. It investigates the applied forms of instruction and teaching methods and gives several proposals for BPM courses improvement. Since majority of undergraduate and postgraduate students have limited understanding of business processes and lack of any practical experience, there is a need for introducing new teaching approaches. Therefore, we offer some suggestions for further improvement, among which the introduction of simulation games environment in BPM education is strongly recommended.

Keywords: business process management, simulation games, education

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Authors: W. Assaad, D. Wilmink, H. R. Pasaribu, H. J. M. Geijselaers

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Shell has developed a mono-diameter well concept for oil and gas wells as opposed to the traditional telescopic well design. A Mono-diameter well design allows well to have a single inner diameter from the surface all the way down to reservoir to increase production capacity, reduce material cost and reduce environmental footprint. This is achieved by expansion of liners (casing string) concerned using an expansion tool (e.g. a cone). Since the well is drilled in stages and liners are inserted to support the borehole, overlap sections between consecutive liners exist which should be expanded. At overlap, the previously inserted casing which can be expanded or unexpanded is called the host casing and the newly inserted casing is called the expandable casing. When the cone enters the overlap section, an expandable casing is expanded against a host casing, a cured cement layer and formation. In overlap expansion, ironing or lengthening may appear instead of shortening in the expandable casing when the pressure exerted by the host casing, cured cement layer and formation exceeds a certain limit. This pressure is related to cement strength, thickness of cement layer, host casing material mechanical properties, host casing thickness, formation type and formation strength. Ironing can cause implications that hinder the deployment of the technology. Therefore, the understanding of ironing becomes essential. A physical model is built in-house to calculate expansion forces, stresses, strains and post expansion casing dimensions under different conditions. In this study, only free casing and overlap expansion of two casings are addressed while the cement and formation will be incorporated in future study. Since the axial strain can be predicted by the physical model, the onset of ironing can be confirmed. In addition, this model helps in understanding ironing and the parameters influencing it. Finally, the physical model is validated with Finite Element (FE) simulations and small-scale experiments. The results of the study confirm that high pressure leads to ironing when the casing is expanded in tension mode.

Keywords: Casing expansion, cement, formation, metal forming, plasticity, well design.

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Authors: Yuan Zheng

Abstract:

3D model-based vehicle matching provides a new way for vehicle recognition, localization and tracking. Its key is to construct an evaluation function, also called fitness function, to measure the degree of vehicle matching. The existing fitness functions often poorly perform when the clutter and occlusion exist in traffic scenarios. In this paper, we present a practical and efficient fitness function. Unlike the existing evaluation functions, the proposed fitness function is to study the vehicle matching problem from both local and global perspectives, which exploits the pixel gradient information as well as the silhouette information. In view of the discrepancy between 3D vehicle model and real vehicle, a weighting strategy is introduced to differently treat the fitting of the model’s wireframes. Additionally, a normalization operation for the model’s projection is performed to improve the accuracy of the matching. Experimental results on real traffic videos reveal that the proposed fitness function is efficient and robust to the cluttered background and partial occlusion.

Keywords: 3D-2D matching, fitness function, 3D vehicle model, local image gradient, silhouette information.

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Authors: Pınar Tüfekçi, Yılmaz Kılıçaslan

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In this paper we present a computational model for pronominal anaphora resolution in Turkish. The model is based on Hobbs’ Naїve Algorithm [4, 5, 6], which exploits only the surface syntax of sentences in a given text.

Keywords: Anaphora Resolution, Pronoun Resolution, Syntax based Algorithms, Naїve Algorithm.

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Authors: H. Magri, N. Abghour, M. Ouzzif

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The 5th generation of mobile networks is term used in various research papers and projects to identify the next major phase of mobile telecommunications standards. 5G wireless networks will support higher peak data rate, lower latency and provide best connections with QoS guarantees. In this article, we discuss various promising technologies for 5G wireless communication systems, such as IPv6 support, World Wide Wireless Web (WWWW), Dynamic Adhoc Wireless Networks (DAWN), BEAM DIVISION MULTIPLE ACCESS (BDMA), Cloud Computing, cognitive radio technology and FBMC/OQAM. This paper is organized as follows: First, we will give introduction to 5G systems, present some goals and requirements of 5G. In the next, basic differences between 4G and 5G are given, after we talk about key technology innovations of 5G systems and finally we will conclude in last Section.

Keywords: WWWW, BDMA, DAWN, 5G, 4G, IPv6, Cloud Computing, cognitive radio, FBMC/OQAM.

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Authors: M. A. Omoloye, M. I. Yusuff, O. K. S. Emiola

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The use of mathematical models for solving biological problems varies from simple to complex analyses, depending on the nature of the research problems and applicability of the models. The method is more common nowadays. Many complex models become impractical when transmitted analytically. However, alternative approach such as numerical method can be employed. It appropriateness in solving linear and non-linear model equation in Differential Transformation Method (DTM) which depends on Taylor series make it applicable. Hence this study investigates the application of DTM to solve dynamic transmission of Lassa fever model in a population. The mathematical model was formulated using first order differential equation. Firstly, existence and uniqueness of the solution was determined to establish that the model is mathematically well posed for the application of DTM. Numerically, simulations were conducted to compare the results obtained by DTM and that of fourth-order Runge-Kutta method. As shown, DTM is very effective in predicting the solution of epidemics of Lassa fever model.

Keywords: Differential Transform Method, Existence and uniqueness, Lassa fever, Runge-Kutta Method.

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Authors: Ahmad Puad Mat Som, Mohammad Bader Badarneh

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Tourism researchers have recently focused on repeat visitation as a part of destination loyalty. Different models have also considered satisfaction as the main determinant of revisit intention, while findings in many studies show it as a continuous issue. This conceptual paper attempts at evaluating recent empirical studies on satisfaction and revisit intention. Based on limitations and gaps in recent studies, the current paper suggests a new model that would be more comprehensive than those in previous studies. The new model offers new relationships between antecedents (destination image, perceived value, specific novelty seeking, and distance to destination) and both of satisfaction and revisit intention. Revisit intention in turn is suggested to be measured in a temporal approach.

Keywords: Satisfaction, revisit intention, a new model.

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Authors: Y. Sunecher, N. Mamode Khan, V. Jowaheer

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This paper considers the modelling of a non-stationary bivariate integer-valued autoregressive moving average of order one (BINARMA(1,1)) with correlated Poisson innovations. The BINARMA(1,1) model is specified using the binomial thinning operator and by assuming that the cross-correlation between the two series is induced by the innovation terms only. Based on these assumptions, the non-stationary marginal and joint moments of the BINARMA(1,1) are derived iteratively by using some initial stationary moments. As regards to the estimation of parameters of the proposed model, the conditional maximum likelihood (CML) estimation method is derived based on thinning and convolution properties. The forecasting equations of the BINARMA(1,1) model are also derived. A simulation study is also proposed where BINARMA(1,1) count data are generated using a multivariate Poisson R code for the innovation terms. The performance of the BINARMA(1,1) model is then assessed through a simulation experiment and the mean estimates of the model parameters obtained are all efficient, based on their standard errors. The proposed model is then used to analyse a real-life accident data on the motorway in Mauritius, based on some covariates: policemen, daily patrol, speed cameras, traffic lights and roundabouts. The BINARMA(1,1) model is applied on the accident data and the CML estimates clearly indicate a significant impact of the covariates on the number of accidents on the motorway in Mauritius. The forecasting equations also provide reliable one-step ahead forecasts.

Keywords: Non-stationary, BINARMA(1, 1) model, Poisson Innovations, CML

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Authors: Kyekyung Kim, Sangseung Kang, Suyoung Chi, Jaehong Kim

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In recent years, IT convergence technology has been developed to get creative solution by combining robotics or sports science technology. Object detection and recognition have mainly applied to sports science field that has processed by recognizing face and by tracking human body. But object detection and recognition using vision sensor is challenge task in real world because of illumination. In this paper, object detection and recognition using vision sensor applied to sports simulator has been introduced. Face recognition has been processed to identify user and to update automatically a person athletic recording. Human body has tracked to offer a most accurate way of riding horse simulator. Combined image processing has been processed to reduce illumination adverse affect because illumination has caused low performance in detection and recognition in real world application filed. Face has recognized using standard face graph and human body has tracked using pose model, which has composed of feature nodes generated diverse face and pose images. Face recognition using Gabor wavelet and pose recognition using pose graph is robust to real application. We have simulated using ETRI database, which has constructed on horse riding simulator.

Keywords: Horse riding simulator, Object detection, Object recognition, User identification, Pose recognition.

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Authors: Gaurav Kumar, Rakesh Kumar Bajaj

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The applicability of Net Present Value (NPV) in an investment project is becoming more and more popular in the field of engineering economics. The classical NPV methodology involves only the precise and accurate data of the investment project. In the present communication, we give a new mathematical model for NPV which uses the concept of intuitionistic fuzzy set theory. The proposed model is based on triangular intuitionistic fuzzy number, which may be known as Intuitionistic Fuzzy Net Present Value (IFNPV). The model has been applied to an example and the results are presented.

Keywords: Net Present Value, Intuitionistic Fuzzy Set, Investment Projects.

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