Abstract: Due to the increasing and varying risks that economic units face with, derivative instruments gain substantial importance, and trading volumes of derivatives have reached very significant level. Parallel with these high trading volumes, researchers have developed many different models. Some are parametric, some are nonparametric. In this study, the aim is to analyse the success of artificial neural network in pricing of options with S&P 100 index options data. Generally, the previous studies cover the data of European type call options. This study includes not only European call option but also American call and put options and European put options. Three data sets are used to perform three different ANN models. One only includes data that are directly observed from the economic environment, i.e. strike price, spot price, interest rate, maturity, type of the contract. The others include an extra input that is not an observable data but a parameter, i.e. volatility. With these detail data, the performance of ANN in put/call dimension, American/European dimension, moneyness dimension is analyzed and whether the contribution of the volatility in neural network analysis make improvement in prediction performance or not is examined. The most striking results revealed by the study is that ANN shows better performance when pricing call options compared to put options; and the use of volatility parameter as an input does not improve the performance.
Abstract: Saudi Arabia is an arid country which depends on
costly desalination plants to satisfy the growing residential water
demand. Prediction of water demand is usually a challenging task
because the forecast model should consider variations in economic
progress, climate conditions and population growth. The task is
further complicated knowing that Mecca city is visited regularly by
large numbers during specific months in the year due to religious
occasions. In this paper, a neural networks model is proposed to
handle the prediction of the monthly and yearly water demand for
Mecca city, Saudi Arabia. The proposed model will be developed
based on historic records of water production and estimated visitors-
distribution. The driving variables for the model include annuallyvarying
variables such as household income, household density, and
city population, and monthly-varying variables such as expected
number of visitors each month and maximum monthly temperature.
Abstract: While the problem based learning (PBL) approach promotes unsupervised self-directed learning (SDL), many students experience difficulty juggling the role of being an information recipient and information seeker. Logbooks have been used to assess trainee doctors but not in other areas. This study aimed to determine the effectiveness of logbook for assessing SDL during PBL sessions in first year medical students. The log book included a learning checklist and knowledge and skills components. Comparisons with the baseline assessment of student performance in PBL and that at semester end after logbook intervention showed significant improvements in student performance (31.5 ± 8 vs. 17.7 ± 4.4; p
Abstract: Modeling of a heterogeneous industrial fixed bed
reactor for selective dehydrogenation of heavy paraffin with Pt-Sn-
Al2O3 catalyst has been the subject of current study. By applying
mass balance, momentum balance for appropriate element of reactor
and using pressure drop, rate and deactivation equations, a detailed
model of the reactor has been obtained. Mass balance equations have
been written for five different components. In order to estimate
reactor production by the passage of time, the reactor model which is
a set of partial differential equations, ordinary differential equations
and algebraic equations has been solved numerically.
Paraffins, olefins, dienes, aromatics and hydrogen mole percent as
a function of time and reactor radius have been found by numerical
solution of the model. Results of model have been compared with
industrial reactor data at different operation times. The comparison
successfully confirms validity of proposed model.
Abstract: Fats and oils are made of esterified hydrocarbons
(RCOOR-) and this work demonstrates the substitution of R by
multi-walled CNTs (MWNTs). The resultant materials are fluidic, oily,
electrically conducting and excellent lubricants. Esterified MWNTs
can also respond to magnetic field when tubules contain long segments
of Fe
Abstract: The paper reviews the relationship between spatial
and transportation planning in the Southern African Development
Community (SADC) region of Sub-Saharan Africa. It argues that
most urbanisation in the region has largely occurred subsequent to
the 1950s and, accordingly, urban development has been
profoundly and negatively affected by the (misguided) spatial and
institutional tenets of modernism. It demonstrates how a
considerable amount of the poor performance of these settlements
can be directly attributed to this. Two factors in particular about the
planning systems are emphasized: the way in which programmatic
land-use planning lies at the heart of both spatial and transportation
planning; and the way on which transportation and spatial planning
have been separated into independent processes. In the final
section, the paper identifies ways of improving the planning
system. Firstly, it identifies the performance qualities which
Southern African settlements should be seeking to achieve.
Secondly, it focuses on two necessary arenas of change: the need to
replace programmatic land-use planning practices with structuralspatial
approaches; and it makes a case for making urban corridors
a spatial focus of integrated planning, as a way of beginning the
restructuring and intensification of settlements which are currently
characterised by sprawl, fragmentation and separation
Abstract: Numerical simulations are performed for laminar
continuous and pulsed jets impinging on a surface in order to
investigate the effects of pulsing frequency on the heat transfer
characteristics. The time-averaged Nusselt number of pulsed jets is
larger in the impinging jet region as compared to the continuous jet,
while it is smaller in the outer wall jet region. At the stagnation point,
the mean and RMS Nusselt numbers become larger and smaller,
respectively, as the pulsing frequency increases. Unsteady behaviors
of vortical fluid motions and temperature field are also investigated to
understand the underlying mechanisms of heat transfer enhancement.
Abstract: This paper presents the impact study of GTO Controlled Series Capacitor (GCSC) parameters on measured impedance (Zseen) by MHO distance relays for single transmission line high voltage 220 kV in the presence of single phase to earth fault with fault resistance (RF). The study deals with a 220 kV single electrical transmission line of Eastern Algerian transmission networks at Group Sonelgaz (Algerian Company of Electrical and Gas) compensated by series Flexible AC Transmission System (FACTS) i.e. GCSC connected at midpoint of the transmission line. The transmitted active and reactive powers are controlled by three GCSC-s. The effects of maximum reactive power injected as well as injected maximum voltage by GCSC on distance relays measured impedance is treated. The simulations results investigate the effects of GCSC injected parameters: variable reactance (XGCSC), variable voltage (VGCSC) and reactive power injected (QGCSC) on measured resistance and reactance in the presence of earth fault with resistance fault varied between 5 to 50 Ω for three cases study.
Abstract: Risk of infectious disease outbreaks is related to the
hygiene among the population. To assess the actual risks and modify
the relevant emergency procedures if necessary, a hygiene survey
was conducted among undergraduate students on the Rhodes
University campus. Soap was available to 10.5% and only 26.8% of
the study participants followed proper hygiene in relation to food
consumption. This combination increases the risk of infectious
disease outbreaks at the campus. Around 83.6% were willing to wash
their hands if soap was provided. Procurement and availability of
soap in undergraduate residences on campus should be improved, as
the total cost is estimated at only 2000 USD per annum. Awareness
campaigns about food-related hygiene and the need for regular handwashing
with soap should be run among Rhodes University students.
If successful, rates of respiratory and hygiene-related diseases will be
decreased and emergency health management simplified.
Abstract: Today with the rapid growth of telecommunications equipment, electronic and developing more and more networks of power, influence of electromagnetic waves on one another has become hot topic discussions. So in this article, this issue and appropriate mechanisms for EMC operations have been presented. First, impact of high voltage lines on the surrounding environment especially on the control room has been investigated, then to reduce electromagnetic radiation, various methods of shielding are provided and shielding effectiveness of them has been compared. It should be expressed that simulations have been done by the finite element method (FEM).
Abstract: Work is focused to the study of unburned carbon in
ash from coal (and wastes) combustion in 8 combustion tests at 3
fluidised-bed power station, at co-combustion of coal and wastes
(also at fluidized bed) and at bench-scale unit simulating coal
combustion in small domestic furnaces. The attention is paid to
unburned carbon contents in bottom ashes and fly ashes at these 8
combustion tests and to morphology of unburned carbons. Specific
surface area of coals, unburned carbons and ashes and the relation of
specific surface area of unburned carbon and the content of volatile
combustibles in coal were studied as well.
Abstract: Seismic qualification testing for equipments to be
mounted on upper storeys of buildings is very demanding in terms of
floor spectra. The latter is characterized by high accelerations
amplitudes within a narrow frequency band. This article presents a
method which permits to cover specified required response spectra
beyond the shaking table capability by amplifying the acceleration
amplitudes at an appropriate frequency range using a physical
intermediate mounted on the platform of the shaker.
Abstract: Weather disaster events were frequent and caused loss
of lives and property in Taiwan recently. Excessive concentration of
population and lacking of integrated planning led to Taiwanese coastal
zone face the impacts of climate change directly. Comparing to many
countries which have already set up legislation, competent authorities
and national adaptation strategies, the ability of coastal management
adapting to climate change is still insufficient in Taiwan. Therefore, it
is necessary to establish a complete institutional arrangement for
coastal management due to climate change in order to protect
environment and sustain socio-economic development. This paper
firstly reviews the impact of climate change on Taiwanese coastal
zone. Secondly, development of Taiwanese institutional arrangement
of coastal management is introduced. Followed is the analysis of four
dimensions of legal basis, competent authority, scientific and financial
support and international cooperations of institutional arrangement.
The results show that Taiwanese government shall: 1) integrate climate
change issue into Coastal Act, Wetland Act and territorial planning
Act and pass them; 2) establish the high level competent authority for
coastal management; 3) set up the climate change disaster coordinate
platform; 4) link scientific information and decision markers; 5)
establish the climate change adjustment fund; 6) participate in
international climate change organizations and meetings actively; 7)
cooperate with near countries to exchange experiences.
Abstract: The Kinetics formation of labile Complex
Ag (I) tetra (p-carboxyphenyl) porphyrin, was investigated at 25oC
and I=0.1M (NaNO3). By spectrophotometric titration, the
composition ratio of the complex was established to be 2:1
(Ag : H2TCPP). The equilibrium constant, K, was found to be
log 10-6.53. Binding of the first Ag (I) was found to be rate
determining step with rate constant, k1= 4.67×102 . A plausible
mechanism is discussed. We discus theoretically why Ag(I)2TCPP is
unstable.
Abstract: Synthesis gas manufacturing by steam reforming of hydrocarbons is an important industrial process. High endothermic nature of the process makes it one of the most cost and heat intensive processes. In the present work, composite effect of different inert gases on synthesis gas yield, feed gas conversion and temperature distribution along the reactor length has been studied using a heterogeneous model. Mathematical model was developed as a first stage and validated against the existing process models. With the addition of inert gases, a higher yield of synthesis gas is observed. Simultaneously the rector outlet temperature drops to as low as 810 K. It was found that Xenon gives the highest yield and conversion while Helium gives the lowest temperature. Using Xenon inert gas 20 percent reduction in outlet temperature was observed compared to traditional case.
Abstract: This paper presents two simplified models to
determine nodal voltages in power distribution networks. These
models allow estimating the impact of the installation of reactive
power compensations equipments like fixed or switched capacitor
banks. The procedure used to develop the models is similar to the
procedure used to develop linear power flow models of transmission
lines, which have been widely used in optimization problems of
operation planning and system expansion. The steady state non-linear
load flow equations are approximated by linear equations relating the
voltage amplitude and currents. The approximations of the linear
equations are based on the high relationship between line resistance
and line reactance (ratio R/X), which is valid for power distribution
networks. The performance and accuracy of the models are evaluated
through comparisons with the exact results obtained from the
solution of the load flow using two test networks: a hypothetical
network with 23 nodes and a real network with 217 nodes.
Abstract: Arms detection is one of the fundamental problems in
human motion analysis application. The arms are considered as the
most challenging body part to be detected since its pose and speed
varies in image sequences. Moreover, the arms are usually occluded
with other body parts such as the head and torso. In this paper,
histogram-based skin colour segmentation is proposed to detect the
arms in image sequences. Six different colour spaces namely RGB,
rgb, HSI, TSL, SCT and CIELAB are evaluated to determine the best
colour space for this segmentation procedure. The evaluation is
divided into three categories, which are single colour component,
colour without luminance and colour with luminance. The
performance is measured using True Positive (TP) and True Negative
(TN) on 250 images with manual ground truth. The best colour is
selected based on the highest TN value followed by the highest TP
value.
Abstract: Fly ash is a significant waste that is released of
thermal power plants and defined as very fine particles that are drifted upward with up taken by the flue gases due to the burning of
used coal [1]. The fly-ash is capable of removing organic
contaminants in consequence of high carbon content, a large surface area per unit volume and contained heavy metals. Therefore, fly ash
is used as an effective coagulant and adsorbent by pelletization [2, 3].
In this study, the possibility of use of fly ash taken from Turkey like low-cost adsorbent for adsorption of zinc ions found in waste
water was investigated. The fly ash taken from Turkey was pelletized with bentonite and molass to evaluate the adsorption capaticity. For
this purpose; analyses such as sieve analysis, XRD, XRF, FTIR and SEM were performed. As a result, it was seen that pellets prepared
from fly ash, bentonite and molass would be used for zinc adsorption.
Abstract: This research was conducted for the first time at the
southeastern coasts of the Caspian Sea in order to evaluate the
performance of osteichthyes cooperatives through production (catch)
function. Using one of the indirect valuation methods in this research,
contributory factors in catch were identified and were inserted into
the function as independent variables. In order to carry out this
research, the performance of 25 Osteichthyes catching cooperatives
in the utilization year of 2009 which were involved in fishing in
Miankale wildlife refuge region. The contributory factors in catch
were divided into groups of economic, ecological and biological
factors. In the mentioned function, catch rate of the cooperative were
inserted into as the dependant variable and fourteen partial variables
in terms of nine general variables as independent variables. Finally,
after function estimation, seven variables were rendered significant at
99 percent reliably level. The results of the function estimation
indicated that human resource (fisherman quantity) had the greatest
positive effect on catch rate with an influence coefficient of 1.7 while
weather conditions had the greatest negative effect on the catch rate
of cooperatives with an influence coefficient of -2.07. Moreover,
factors like member's share, experience and fisherman training and
fishing effort played the main roles in the catch rate of cooperative
with influence coefficients of 0.81, 0.5 and 0.21, respectively.
Abstract: The research objective of the project and article
“European Ecological Network Natura 2000 – opportunities and
threats” Natura 2000 sites constitute a form of environmental
protection, several legal problems are likely to result. Most
controversially, certain sites will be subject to two regimes of
protection: as national parks and as Natura 2000 sites. This dualism
of the legal regulation makes it difficult to perform certain legal
obligations related to the regimes envisaged under each form of
environmental protection. Which regime and which obligations
resulting from the particular form of environmental protection have
priority and should prevail? What should be done if these obligations
are contradictory? Furthermore, an institutional problem consists in
that no public administration authority has the power to resolve legal
conflicts concerning the application of a particular regime on a given
site. There are also no criteria to decide priority and superiority of
one form of environmental protection over the other. Which
regulations are more important, those that pertain to national parks or
to Natura 2000 sites? In the light of the current regulations, it is
impossible to give a decisive answer to these questions. The internal
hierarchy of forms of environmental protection has not been
determined, and all such forms should be treated equally.