Financial Portfolio Optimization in Electricity Markets: Evaluation via Sharpe Ratio

Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Gender Differences in Morbid Obese Children: Clinical Significance of Two Diagnostic Obesity Notation Model Assessment Indices

Childhood obesity is an ever increasing global health problem, affecting both developed and developing countries. Accurate evaluation of obesity in children requires difficult and detailed investigation. In our study, obesity in children was evaluated using new body fat ratios and indices. Assessment of anthropometric measurements, as well as some ratios, is important because of the evaluation of gender differences particularly during the late periods of obesity. A total of 239 children; 168 morbid obese (MO) (81 girls and 87 boys) and 71 normal weight (NW) (40 girls and 31 boys) children, participated in the study. Informed consent forms signed by the parents were obtained. Ethics Committee approved the study protocol. Mean ages (years)±SD calculated for MO group were 10.8±2.9 years in girls and 10.1±2.4 years in boys. The corresponding values for NW group were 9.0±2.0 years in girls and 9.2±2.1 years in boys. Mean body mass index (BMI)±SD values for MO group were 29.1±5.4 kg/m2 and 27.2±3.9 kg/m2 in girls and boys, respectively. These values for NW group were calculated as 15.5±1.0 kg/m2 in girls and 15.9±1.1 kg/m2 in boys. Groups were constituted based upon BMI percentiles for age-and-sex values recommended by WHO. Children with percentiles >99 were grouped as MO and children with percentiles between 85 and 15 were considered NW. The anthropometric measurements were recorded and evaluated along with the new ratios such as trunk-to-appendicular fat ratio, as well as indices such as Index-I and Index-II. The body fat percent values were obtained by bio-electrical impedance analysis. Data were entered into a database for analysis using SPSS/PASW 18 Statistics for Windows statistical software. Increased waist-to-hip circumference (C) ratios, decreased head-to-neck C, height ‘to’ ‘two’-‘to’-waist C and height ‘to’ ‘two’-‘to’-hip C ratios were observed in parallel with the development of obesity (p≤0.001). Reference value for height ‘to’ ‘two’-‘to’-hip ratio was detected as approximately 1.0. Index-II, based upon total body fat mass, showed much more significant differences between the groups than Index-I based upon weight. There was not any difference between trunk-to-appendicular fat ratios of NW girls and NW boys (p≥0.05). However, significantly increased values for MO girls in comparison with MO boys were observed (p≤0.05). This parameter showed no difference between NW and MO states in boys (p≥0.05). However, statistically significant increase was noted in MO girls compared to their NW states (p≤0.001). Trunk-to-appendicular fat ratio was the only fat-based parameter, which showed gender difference between NW and MO groups. This study has revealed that body ratios and formula based upon body fat tissue are more valuable parameters than those based on weight and height values for the evaluation of morbid obesity in children.

Experimental Investigation into Chaotic Features of Flow Gauges in Automobile Fuel Metering System

Chaotic system may lead to instability, extreme sensitivity and performance reduction in control systems. It is therefore important to understand the causes of such undesirable characteristics in control system especially in the automobile fuel gauges. This is because without accurate fuel gauges in automobile systems, it will be difficult if not impossible to embark on a journey whether during odd hours of the day or where fuel is difficult to obtain. To this end, this work studied the impacts of fuel tank rust and faulty component of fuel gauge system (voltage stabilizer) on the chaotic characteristics of fuel gauges. The results obtained were analyzed using Graph iSOFT package. Over the range of experiments conducted, the results obtained showed that rust effect of the fuel tank would alter the flow density, consequently the fluid pressure and ultimately the flow velocity of the fuel. The responses of the fuel gauge pointer to the faulty voltage stabilizer were erratic causing noticeable instability of gauge measurands indicated. The experiment also showed that the fuel gauge performed optimally by indicating the highest degree of accuracy when combined the effect of rust free tank and non-faulty voltage stabilizer conditions (± 6.75% measurand error) as compared to only the rust free tank situation (± 15% measurand error) and only the non-faulty voltage stabilizer condition (± 40% measurand error). The study concludes that both the fuel tank rust and the faulty voltage stabilizer gauge component have a significant effect on the sensitivity of fuel gauge and its accuracy ultimately. Also, by the reason of literature, our findings can also be said to be valid for all other fluid meters and gauges applicable in plant machineries and most hydraulic systems.

Substitution of Phosphate with Liquid Smoke as a Binder on the Quality of Chicken Nugget

One of functional properties of the meat is decrease of water holding capacity (WHC) during rigor mortis. At the time of pre-rigor, WHC is higher than post-rigor. The decline of WHC has implication to the other functional properties such as decreased cooking lost and yields resulting in lower elasticity and compactness of processed meat product. In many cases, the addition of phosphate in the meat will increase the functional properties of the meat such as WHC. Furthermore, liquid smoke has also been known in increasing the WHC of fresh meat. For food safety reasons, liquid smoke in the present study was used as a substitute to phosphate in production of chicken nuggets. This study aimed to know the effect of substitution of phosphate with liquid smoke on the quality of nuggets made from post-rigor chicken thigh and breast. The study was arranged using completely randomized design of factorial pattern 2x3 with three replications. Factor 1 was thigh and breast parts of the chicken, and factor 2 was different levels of liquid smoke in substitution to phosphate (0%, 50%, and 100%). The thigh and breast post-rigor broiler aged 40 days were used as the main raw materials in making nuggets. Auxiliary materials instead of meat were phosphate, liquid smoke at concentration of 10%, tapioca flour, salt, eggs and ice. Variables measured were flexibility, shear force value, cooking loss, elasticity level, and preferences. The results of this study showed that the substitution of phosphate with 100% liquid smoke resulting high quality nuggets. Likewise, the breast part of the meat showed higher quality nuggets than thigh part. This is indicated by high elasticity, low shear force value, low cooking loss, and a high level of preference of the nuggets. It can be concluded that liquid smoke can be used as a binder in making nuggets of chicken post-rigor.

The Relationship between Fatigue Crack Growth and Residual Stress in Rails

Residual stress and fatigue crack growth rates are important to determine mechanical behavior of rails. This study aims to make relationship between residual stress and fatigue crack growth values in rails. For this purpose, three R260 quality rails (0.6-0.8% C, 0.6-1.25 Mn) were chosen. Residual stress of samples was measured by cutting method that is related in railway standard. Then samples were machined for fatigue crack growth test and analyze was completed according to the ASTM E647 standard which gives information about parameters of rails for this test. Microstructure characterizations were examined by Light Optic Microscope (LOM). The results showed that residual stress change with fatigue crack growth rate. The sample has highest residual stress exhibits highest crack growth rate and pearlitic structure can be seen clearly for all samples by microstructure analyze.

Characterization of an Extrapolation Chamber for Dosimetry of Low Energy X-Ray Beams

Extrapolation chambers were designed to be used as primary standard dosimeter for measuring absorbed dose in a medium in beta radiation and low energy x-rays. The International Organization for Standardization established series of reference x-radiation for calibrating and determining the energy dependence of dosimeters that are to be reproduced in metrology laboratories. Standardization of the low energy x-ray beams with tube potential lower than 30 kV may be affected by the instrument used for dosimetry. In this work, parameters of a 23392 model PTW extrapolation chamber were determined aiming its use in low energy x-ray beams as a reference instrument.

Long Term Follow-Up, Clinical Outcomes and Quality of Life after Total Arterial Revascularisation versus Conventional Coronary Surgery: A Retrospective Study

Graft patency underpins long-term prognosis after coronary artery bypass grafting surgery (CABG). The benefits of the combined use of only the left internal mammary artery and radial artery, referred to as total arterial revascularisation (TAR), on long-term clinical outcomes and quality of life are relatively unknown. The aim of this study was to identify whether there were differences in long term clinical outcomes between recipients of TAR compared to a cohort of mostly arterial revascularization involving the left internal mammary, at least one radial artery and at least one saphenous vein graft. A retrospective analysis was performed on all patients who underwent TAR or were re-vascularized with supplementary saphenous vein graft from February 1996 to December 2004. Telephone surveys were conducted to obtain clinical outcome parameters including major adverse cardiac and cerebrovascular events (MACCE) and Short Form (SF-36v2) Health Survey responses. A total of 176 patients were successfully contacted to obtain postop follow up results. The mean follow-up length from time of surgery in our study was TAR 12.4±1.8 years and conventional 12.6±2.1. PCS score was TAR 45.9±8.8 vs LIMA/Rad/ SVG 44.9±9.2 (p=0.468) and MCS score was TAR 52.0±8.9 vs LIMA/Rad/SVG 52.5±9.3 (p=0.723). There were no significant differences between groups for NYHA class 3+ TAR 9.4% vs. LIMA/Rad/SVG 6.6%; or CCS 3+ TAR 2.35% vs. LIMA/Rad/SVG 0%.

Evaluation of Corrosion Property of Aluminium-Zirconium Dioxide (AlZrO2) Nanocomposites

This paper aims to study the corrosion property of aluminum matrix nanocomposite of an aluminum alloy (Al-6061) reinforced with zirconium dioxide (ZrO2) particles. The zirconium dioxide particles are synthesized by solution combustion method. The nanocomposite materials are prepared by mechanical stir casting method, varying the percentage of n-ZrO2 (2.5%, 5% and 7.5% by weight). The corrosion behavior of base metal (Al-6061) and Al/ZrO2 nanocomposite in seawater (3.5% NaCl solution) is measured using the potential control method. The corrosion rate is evaluated by Tafel extrapolation technique. The corrosion potential increases with the increase in wt.% of n-ZrO2 in the nanocomposite which means the decrease in corrosion rate. It is found that on addition of n-ZrO2 particles to the aluminum matrix, the corrosion rate has decreased compared to the base metal.

Working Mode and Key Technology of Thermal Vacuum Test Software for Spacecraft Test

A universal software platform is developed for improving the defects in the practical one. This software platform has distinct advantages in modularization, information management, and the interfaces. Several technologies such as computer technology, virtualization technology, network technology, etc. are combined together in this software platform, and four working modes are introduced in this article including single mode, distributed mode, cloud mode, and the centralized mode. The application area of the software platform is extended through the switch between these working modes. The software platform can arrange the thermal vacuum test process automatically. This function can improve the reliability of thermal vacuum test.

A Neural Approach for Color-Textured Images Segmentation

In this paper, we present a neural approach for unsupervised natural color-texture image segmentation, which is based on both Kohonen maps and mathematical morphology, using a combination of the texture and the image color information of the image, namely, the fractal features based on fractal dimension are selected to present the information texture, and the color features presented in RGB color space. These features are then used to train the network Kohonen, which will be represented by the underlying probability density function, the segmentation of this map is made by morphological watershed transformation. The performance of our color-texture segmentation approach is compared first, to color-based methods or texture-based methods only, and then to k-means method.

The Relationship between Conceptual Organizational Culture and the Level of Tolerance in Employees

The aim of the present study is examining the relationship between conceptual organizational culture and the level of tolerance in employees of Islamic Azad University of Shahre Ghods. This research is a correlational and analytic-descriptive one. The samples included 144 individuals. A 24-item standard questionnaire of organizational culture by Cameron and Queen was used in this study. This questionnaire has six criteria and each criterion includes four items that each item indicates one cultural dimension. Reliability coefficient of this questionnaire was normed using Cronbach's alpha of 0.91. Also, the 25-item questionnaire of tolerance by Conor and Davidson was used. This questionnaire is in a five-degree Likert scale form. It has seven criteria and is designed to measure the power of coping with pressure and threat. It has the needed content reliability and its reliability coefficient is normed using Cronbach's alpha of 0.87. Data were analyzed using Pearson correlation coefficient and multivariable regression. The results showed among various dimensions of organizational culture, there is a positive significant relationship between three dimensions (family, adhocracy, bureaucracy) and tolerance, there is a negative significant relationship between dimension of market and tolerance and components of organizational culture have the power of prediction and explaining the tolerance. In this explanation, the component of family is the most effective and the best predictor of tolerance.

An Exploration of the Dimensions of Place-Making: A South African Case Study

Place-making is viewed here as an empowering process in which people represent, improve and maintain their spatial (natural or built) environment. With the above-mentioned in mind, place-making is multi-dimensional and include a spatial dimension (including visual properties or the end product/plan), a procedural dimension during which (negotiation/discussion of ideas with all relevant stakeholders in terms of end product/plan) and a psychological dimension (inclusion of intrinsic values and meanings related to a place in the end product/plan). These three represent dimensions of place-making. The purpose of this paper is to explore these dimensions of place-making in a case study of a local community in Ikageng, Potchefstroom, North-West Province, South Africa. This case study represents an inclusive process that strives to empower a local community (forcefully relocated due to Apartheid legislation in South Africa). This case study focussed on the inclusion of participants in the decision-making process regarding their daily environment. By means of focus group discussions and a collaborative design workshop, data is generated and ultimately creates a linkage with the theoretical dimensions of place-making. This paper contributes to the field of spatial planning due to the exploration of the dimensions of place-making and the relevancy of this process on spatial planning (especially in a South African setting).

Application of Recycled Tungsten Carbide Powder for Fabrication of Iron Based Powder Metallurgy Alloy

Tungsten carbide is widely used as a tool material in metal manufacturing process. Since tungsten is typical rare metal, establishment of recycle process of tungsten carbide tools and restore into cemented carbide material bring great impact to metal manufacturing industry. Recently, recycle process of tungsten carbide has been developed and established gradually. However, the demands for quality of cemented carbide tool are quite severe because hardness, toughness, anti-wear ability, heat resistance, fatigue strength and so on should be guaranteed for precision machining and tool life. Currently, it is hard to restore the recycled tungsten carbide powder entirely as raw material for new processed cemented carbide tool. In this study, to suggest positive use of recycled tungsten carbide powder, we have tried to fabricate a carbon based sintered steel which shows reinforced mechanical properties with recycled tungsten carbide powder. We have made set of newly designed sintered steels. Compression test of sintered specimen in density ratio of 0.85 (which means 15% porosity inside) has been conducted. As results, at least 1.7 times higher in nominal strength in the amount of 7.0 wt.% was shown in recycled WC powder. The strength reached to over 600 MPa for the Fe-WC-Co-Cu sintered alloy. Wear test has been conducted by using ball-on-disk type friction tester using 5 mm diameter ball with normal force of 2 N in the dry conditions. Wear amount after 1,000 m running distance shows that about 1.5 times longer life was shown in designed sintered alloy. Since results of tensile test showed that same tendency in previous testing, it is concluded that designed sintered alloy can be used for several mechanical parts with special strength and anti-wear ability in relatively low cost due to recycled tungsten carbide powder.

Resveratrol Incorporated Liposomes Prepared from Pegylated Phospholipids and Cholesterol

Liposomes and pegylated liposomes were widely used as drug delivery system in pharmaceutical field since a long time. However, in the former time, polyethylene glycol (PEG) was connected into phospholipid after the liposomes were already prepared. In this paper, we intend to study the possibility of applying phospholipids which already connected with PEG and then they were used to prepare liposomes. The model drug resveratrol was used because it can be applied against different diseases. Cholesterol was applied to stabilize the membrane of liposomes. The thin film technique in a laboratory scale was a preparation method. The liposomes were then characterized by nanoparticle tracking analysis (NTA), photon correlation spectroscopy (PCS) and light microscopic techniques. The stable liposomes can be produced and the particle sizes after filtration were in nanometers. The 2- and 3-chains-PEG-phospholipid (PL) caused in smaller particle size than the 4-chains-PEG-PL. Liposomes from PL 90G and cholesterol were stable during storage at 8 °C of 56 days because the particle sizes measured by PCS were almost not changed. There was almost no leakage of resveratrol from liposomes PL 90G with cholesterol after diffusion test in dialysis tube for 28 days. All liposomes showed the sustained release during measuring time of 270 min. The maximum release amount of 16-20% was detected with liposomes from 2- and 3-chains-PEG-PL. The other liposomes gave max. release amount of resveratrol only of 10%. The release kinetic can be explained by Korsmeyer-Peppas equation. 

Retrofitting Measures for Existing Housing Stock in Kazakhstan

Residential buildings fund of Kazakhstan was built in the Soviet time about 35-60 years ago without considering energy efficiency measures. Currently, most of these buildings are in a rundown condition and fail to meet the minimum of hygienic, sanitary and comfortable living requirements. The paper aims to examine the reports of recent building energy survey activities in the country and provide a possible solution for retrofitting existing housing stock built before 1989 which could be applicable for building envelope in cold climate. Methodology also includes two-dimensional modeling of possible practical solutions and further recommendations.

Measuring Science and Technology Innovation Capacity in Developing Countries: From a National Innovation System

This study attempts to examine the disparities in S&T innovation capacity from 14 developing countries to discuss how to support specific features in national innovation systems. It includes East-Asian, Middle-Asian, Central American and African countries. Here, we particularly focus on five dimensions- resources, activities, network, environment and performance- with 37 indicators. They were derived as structuring components of the relevant diagnostic model, which encompasses the whole process of S&T innovation from the input of resources to the output of economically valuable results. For many developing nations, economic industries remain weaker than actual S&T capabilities, and relevant regulatory authorities may not exist. This paper will be helpful to provide basic evidence and to set directions for better national S&T Innovation capacities and toward national competitiveness.

Radon-222 Concentration and Potential Risk to Workers of Al-Jalamid Phosphate Mines, North Province, Saudi Arabia

Usually, phosphate deposits contain 238U and 232Th in addition to their decay products. Due to their different pathways in the environment, the 238U/232Th activity concentration ratio usually found to be greater than unity in phosphate sediments. The presence of these radionuclides creates a potential need to control exposure of workers in the mining and processing activities of the phosphate minerals in accordance with IAEA safety standards. The greatest dose to workers comes from exposure to radon, especially 222Rn from the uranium series, and has to be controlled. In this regard, radon (222Rn) was measured in the atmosphere (indoor and outdoor) of Al-Jalamid phosphate-mines working area using a portable radon-measurement instrument RAD7, in a purpose of radiation protection. Radon was measured in 61 sites inside the open phosphate mines, the phosphate upgrading facility (offices and rooms of the workers, and in some open-air sites) and in the dwellings of the workers residence-village that lies at about 3 km from the mines working area. The obtained results indicated that the average indoor radon concentration was about 48.4 Bq/m3. Inside the upgrading facility, the average outdoor concentrations were 10.8 and 9.7 Bq/m3 in the concentrate piles and crushing areas, respectively. It was 12.3 Bq/m3 in the atmosphere of the open mines. These values are comparable with the global average values. Based on the average values, the annual effective dose due to radon inhalation was calculated and risk estimates have been done. The average annual effective dose to workers due to the radon inhalation was estimated by 1.32 mSv. The potential excess risk of lung cancer mortality that could be attributed to radon, when considering the lifetime exposure, was estimated by 53.0x10-4. The results have been discussed in detail.

The Impact of Governance on Happiness: Evidence from Quantile Regressions

This study utilizes the quantile regression analysis to examine the impact of governance (including democratic quality and technical quality) on happiness in 101 countries worldwide, classified as “developed countries” and “developing countries”. The empirical results show that the impact of democratic quality and technical quality on happiness is significantly positive for “developed countries”, while is insignificant for “developing countries”. The results suggest that the authorities in developed countries can enhance the level of individual happiness by means of improving the democracy quality and technical quality. However, for developing countries, promoting the quality of governance in order to enhance the level of happiness may not be effective. Policy makers in developed countries may pay more attention on increasing real GDP per capita instead of promoting the quality of governance to enhance individual happiness.

Motor Coordination and Body Mass Index in Primary School Children

Obese children will probably become obese adults, consequently exposed to an increased risk of comorbidity and premature mortality. Body weight may be indirectly determined by continuous development of coordination and motor skills. The level of motor skills and abilities is an important factor that promotes physical activity since early childhood. The aim of the study is to thoroughly understand the internal relations between motor coordination abilities and the somatic development of prepubertal children and to determine the effect of excess body weight on motor coordination by comparing the motor ability levels of children with different body mass index (BMI) values. The data were collected from 436 children aged 7–10 years, without health limitations, fully participating in school physical education classes. Body height was measured with portable stadiometers (Harpenden, Holtain Ltd.), and body mass—with a digital scale (HN-286, Omron). Motor coordination was evaluated with the Kiphard-Schilling body coordination test, Körperkoordinationstest für Kinder. The normality test by Shapiro-Wilk was used to verify the data distribution. The correlation analysis revealed a statistically significant negative association between the dynamic balance and BMI, as well as between the motor quotient and BMI (p

Logistical Optimization of Nuclear Waste Flows during Decommissioning

An important number of technological equipment and high-skilled workers over long periods of time have to be mobilized during nuclear decommissioning processes. The related operations generate complex flows of waste and high inventory levels, associated to information flows of heterogeneous types. Taking into account that more than 10 decommissioning operations are on-going in France and about 50 are expected toward 2025: A big challenge is addressed today. The management of decommissioning and dismantling of nuclear installations represents an important part of the nuclear-based energy lifecycle, since it has an environmental impact as well as an important influence on the electricity cost and therefore the price for end-users. Bringing new technologies and new solutions into decommissioning methodologies is thus mandatory to improve the quality, cost and delay efficiency of these operations. The purpose of our project is to improve decommissioning management efficiency by developing a decision-support framework dedicated to plan nuclear facility decommissioning operations and to optimize waste evacuation by means of a logistic approach. The target is to create an easy-to-handle tool capable of i) predicting waste flows and proposing the best decommissioning logistics scenario and ii) managing information during all the steps of the process and following the progress: planning, resources, delays, authorizations, saturation zones, waste volume, etc. In this article we present our results from waste nuclear flows simulation during decommissioning process, including discrete-event simulation supported by FLEXSIM 3-D software. This approach was successfully tested and our works confirms its ability to improve this type of industrial process by identifying the critical points of the chain and optimizing it by identifying improvement actions. This type of simulation, executed before the start of the process operations on the basis of a first conception, allow ‘what-if’ process evaluation and help to ensure quality of the process in an uncertain context. The simulation of nuclear waste flows before evacuation from the site will help reducing the cost and duration of the decommissioning process by optimizing the planning and the use of resources, transitional storage and expensive radioactive waste containers. Additional benefits are expected for the governance system of the waste evacuation since it will enable a shared responsibility of the waste flows.