ACCOUNTING AND FINANCIAL ENGINEERING - EXAMPLE 34.3 : (a) In the M / M / 1 queue that happens with randomness, let State 0 = the queue and server are empty, State 1 = the server is in use and the queue is empty, State 2 = the server is in use and 1 is in the queue, State 3 = the server is in use and 2 in the queue. Let P (0) = probability of State 0, P (1) = probability of State 1, P (2) = probability of State 2, P (3) = probability of State 3 and so on. If c = constant, P (1) = c P (0), P (2) = c [ c P (0) ], P (3) = c { c [ c P (0) ] }, write an equation that involves P (N), P (N + 1) and c. (b) Let L = market price of risk, r = riskless rate, m = expected return, s = volatility. Given that L = (m - r) / s related to oil prices, expected return = 12 %, s = 20 %, riskless rate = 8 %, calculate the market price of risk.
ACCOUNTING AND FINANCIAL ENGINEERING - ANSWER 34.3 : (a) P (1) = c P (0), P (2) = c [ c P (0) ] = c P (1), P (3) = c { c [ c P (0) ] } = c P (2). Then P (N + 1) = c P (N). (b) Let m = 12 %, r = 8 %, s = 20 %, then L = (m - r) / s = (12 - 8) / 20 = 4 / 20 = 1 / 5. The answer is given by Kang Chuen Tat; PO Box 6263, Dandenong, Victoria VIC 3175, Australia; SMS +61405421706; chuentat@hotmail.com; http://kangchuentat.wordpress.com.
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i am giving BARC Trainee exam in chemical. Can anyone tell the syllabus and question paper pattern for OCES for BARC trainee?
REACTION ENGINEERING - EXAMPLE 13.1 : In a furnace, 2 chemical reactions are happening - 1 mole of solid carbon reacts with 1 mole of oxygen gas to generate 1 mole of carbon dioxide gas; 1 mole of solid carbon reacts with 0.5 mole of oxygen gas to generate 1 mole of carbon monoxide gas. In a given process, 100 kmol of carbon is burned in a furnace. (a) Calculate the theoretical oxygen gas needed by assuming that all the carbon is burned completely to carbon dioxide gas. (b) Calculate the theoretical air needed by assuming that all the carbon is burned completely to carbon dioxide gas and there is only 21 % of oxygen gas. (c) Determine the amount of air required (in kmol) if 50 % excess oxygen gas must be satisfied for (a) and (b). (d) It has latter been found that 20 % of the carbon undergoes incomplete combustion resulting to carbon monoxide gas production. The rest of the carbon undergoes complete combustion. Calculate the total oxygen gas required stoichiometrically based on the actual process.
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ENGINEERING MATHEMATICS - EXAMPLE 8.3 : Solve the first order differential equation : (Z + 1)(dy/dx) = xy in term of ln |y| = f(x). Z = (x)(x).
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