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a dynamic model of a general ow conduit based on its discretisation into a sequence of well mixed zones. They concluded that optimality arises with 46 zone nodes but satisfactory results for most cases will be obtained with 20 nodes, the results being largely independent of the length-to-diameter ratio of the conduit. Yik (2001) modelled the performance of distributed systems serviced by multiple pumps and chillers and identi ed a problem due to ow starvation when pump and chiller switching sequences take effect the resulting capacity reduction is shown in Fig. 6.20. It was concluded that two-port valves should be used with a primary-circuit differential pressure regulator on secondary loads such as cooling coils. Olsen & Chen (2003) recognised that the particularly mild climate conditions of the UK require attention to be placed on hybrid solutions that maximise passive opportunities, such as natural ventilation and night cooling, but also permit the use of active system intervention such as chilled ceilings and variable-airvolume systems when necessary. Example results using the integrated modelling program EnergyPlus which includes steady-state descriptions of plant are shown in Fig. 6.21. Primary plant Numerous examples of chiller models and their applications can be found in the literature (Braun et al. 1987; Wang et al. 2000; Yik & Lam 1998). Wang et al. deal with the dynamic modelling of centrifugal chillers using a theoretical basis but tuned with eld measurement data. Yik & Lam deal with centrifugal, reciprocating and screw compressor-driven chillers for both air- and water-cooled condensers based on curve- tting to manufacturers data. In later work, these models are used to predict annual performance pro les using alternative methods of condenser cooling (Yik et al. 2001). Figure 6.22 shows results based



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Fig. 13.6 As for Fig. 13.2, for the mid-Paleocene (60 Ma).

These (VaR-supported) leverage and illiquidity excesses sank Bear, as counterparties and creditors said enough is enough and ran on the bank (though at least one in uential observer believes that the bank was not undercapitalized under prevailing regulatory guidance and that a crisis in market con dence is what truly brought it down, with VaR being unfairly ngered) What about Lehman Brothers, the other mythical investment bank to also disappear as a result of the crisis How did VaR do Well, it remained lowish throughout, with average VaR below $100 million during Q2 2007 and Q3 2007, and (depending on the calculation method) Q4 2007, Q1 2008, and Q2 2008 Just like in the case of Bear Stearns, Lehman engaged in wild leverage throughout, aided and abetted by such permissive VaR numbers.





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Several prescriptions are available for the wall damping functions, f1,f2, fm, perhaps the most common of which being those recommended by Lam & Bremhorst (1981): fm = [1 - exp(-0.0165 Re y )] (1 + 20.5 Re t ) f1 = (1 + 0.05 fm )

Backarc (or marginal) basins are relatively small basins of either oceanic or continental af nity that form behind the volcanic arc in the overriding plate of a subduction zone (Fig. 9.3). Oceanic varieties are most common in the western Paci c, but are also found in the Atlantic behind the Caribbean and Scotia arcs. In all of these settings, the basins reside on the inner, concave side of the island arc and many are bounded on the side opposite the arc by a backarc ridge (remnant arc). Most of these basins are associated with extensional tectonics and high heat ow, and the majority of oceanic varieties contain sea oor spreading centers where new oceanic crust is generated. In continental settings, extensional backarc basins have been described in the context of Andean-type convergent margins (Section 10.2). Some of the best preserved examples of this type formed along the western margin of South America during

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On May 31, 2007, the rm boasted $600 billion in assets (with half of those being nancial instruments) on top of $20 billion of equity By February 29, 2008, the proportion had shifted to $785/$25 billion, yielding a similarly abusive ratio Less than four months before the rm s nal demise, Lehman s $640 billion in assets ($270 billion of the nancial variety) could still only count on the meager support of a $26 billion capital base VaR breaches were modest except for, crucially, the quarter ending May 31, 2008, which witnessed nine VaR exceptions, three times above the predicted amount What s more, these violations referred to weighted VaR, which was substantially higher ($123 million quarterly average versus $84 million average for the nonweighted calculation) given that it assigned greater in uence to more recent (more turbulent) events That.

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