LVL1 LXT313

'$7$ 6+((7
-8/< ìääæ
/;7êìê î /;7êìç
5HYLVLRQ ëïë
/RZ 3RZHU (ì 3&0 5HSHDWHUV î 7UDQVFHLYHUV
*HQHUDO 'HVFULSWLRQ
)HDWXUHV
7KH /;7êìê DQG /;7êìç DUH LQWHJUDWHG UHSHDWHUîWUDQVð
FHLYHU FLUFXLWV IRU (ì FDUULHU V\VWHPVï 7KH /;7êìê LV D
GXDO UHSHDWHUîWUDQVFHLYHU DQG WKH /;7êìç LV D VLQJOH
UHSHDWHUîWUDQVFHLYHUï 7KH /;7êìê DQG /;7êìç DUH
GHVLJQHG WR RSHUDWH DV UHJHQHUDWLYH UHSHDWHUVîWUDQVFHLYHUV
IRU ëïíéå 0ESV GDWD UDWH 3&0 OLQHVï (DFK LQFOXGHV DOO FLUð
FXLWV UHTXLUHG IRU D UHJHQHUDWLYH UHSHDWHUîWUDQVFHLYHU V\Vð
WHP LQFOXGLQJ WKH HTXDOL]DWLRQ QHWZRUNñ DXWRPDWLF OLQH
EXLOGðRXW õ$/%2ôñ DQG D VWDWHðRIðWKHðDUW DQDORJîGLJLWDO
FORFN H[WUDFWLRQ QHWZRUN WXQHG E\ DQ H[WHUQDO FU\VWDOï
7KH NH\ IHDWXUH RI WKH /;7êìê IDPLO\ LV WKDW LW UHTXLUHV
RQO\ D FU\VWDO DQG D PLQLPXP RI RWKHU FRPSRQHQWV WR FRPð
SOHWH D UHSHDWHUîWUDQVFHLYHU GHVLJQï &RPSDUHG ZLWK WUDGLð
WLRQDO WXQHG FRLOðW\SH UHSHDWHUVîWUDQVFHLYHUVñ WKH\ RIIHU
VLJQLILFDQW VDYLQJV LQ FRPSRQHQW DQG ODERU FRVWVñ DORQJ
ZLWK UHGXFHG YROWDJH GURSîSRZHU FRQVXPSWLRQñ DQG
LPSURYHG UHOLDELOLW\ï 7R HQVXUH SHUIRUPDQFH IRU DOO ORRS
OHQJWKVñ WKH /;7êìê DQG /;7êìç DUH ìííø $&î'& WHVWHG
XVLQJ LQSXWV JHQHUDWHG E\ /HYHO 2QH©V SURSULHWDU\ WUDQVð
PLVVLRQ OLQH DQG QHWZRUN VLPXODWRUï
7KH /;7êìê DQG /;7êìç DUH DGYDQFHG &026 GHYLFHV
ZKLFK UHTXLUH RQO\ D VLQJOH èðYROW SRZHU VXSSO\ï
‡ ,QWHJUDWHG UHSHDWHUîWUDQVFHLYHU FLUFXLW RQ D VLQJOH
&026 FKLS
‡ 2QðFKLS HTXDOL]DWLRQ QHWZRUN
‡ 2QðFKLS $/%2
‡ /RZ SRZHU FRQVXPSWLRQ
‡ 1R WXQLQJ FRLO
‡ 2QðFKLS /RRSEDFN
‡ 5HFRYHUHG &ORFN 2XWSXW
‡ í WR éê G% G\QDPLF UDQJH
‡ ðìé G% LQWHUIHUHQFH PDUJLQ
‡ 6LQJOH è 9 RQO\ &026 WHFKQRORJ\
‡ $YDLODEOH LQ ìçðSLQ 3',3 DQG ééðSLQ 3/&&
/;7êìê î /;7êìç %ORFN 'LDJUDP
57,3ì
5HFHLYH
(TXDOL]HU
55,1*ì
(TXDOL]HU
&RQWURO
/3%.
77,3ë
75,1*ë
5&/.ë
L1
1RLVH ÷
&URVVWDON
)LOWHU
6OLFHUV ÷
3HDN 'HWHFWRUV
5&/.ì
/LQH
'ULYHUV
&RQWURO
&ORFN
*HQHUDWRU
77,3ì
75,1*ì
;7$/ ,1
;7$/ 287
(TXDOL]HU
&RQWURO
/RRSð
EDFN
/LQH
'ULYHUV
7LPLQJ
5HFRYHU\
÷
7UDQVPLW
&RQWURO
7LPLQJ
5HFRYHU\
÷
7UDQVPLW
&RQWURO
6OLFHUV ÷
3HDN 'HWHFWRUV
1RLVH ÷
&URVVWDON
)LOWHU
l
5HFHLYH
(TXDOL]HU
57,3ë
55,1*ë
éðìì
/;7êìê î /;7êìç /RZ 3RZHU (ì 3&0 5HSHDWHUV î 7UDQVFHLYHUV
3,1 $66,*10(176 $1' 6,*1$/ '(6&5,37,216
1î&
1î&
5&/.ì
9&&
55,1*ì
57,3ì
*1'5
57,3ë
55,1*ë
/3%.
1î&
)LJXUH ìã /;7êìê î /;7êìç 3LQ $VVLJQPHQWV
ìç
ìè
ìé
ìê
ìë
ìì
ìí
ä
*1'5
57,3ë
55,1*ë
/3%.
;72
;7,
77,3ë
75,1*ë
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
æ
å
ä
ìí
ìì
ìë
ìê
ìé
ìè
ìç
ìæ
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
æ
å
ä
ìí
ìì
ìë
ìê
ìé
ìè
ìç
ìæ
/;7êìê3(
êä
êå
êæ
êç
êè
êé
êê
êë
êì
êí
ëä
ìå
ìä
ëí
ëì
ëë
ëê
ëé
ëè
ëç
ëæ
ëå
ì
ë
ê
é
è
ç
æ
å
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
5&/.ì
9&&
55,1*ì
57,3ì
*1'5
1î&
1î&
/3%.
1î&
1î&
5&/.ë
77,3ì
75,1*ì
*1'7
75,1*ë
77,3ë
;7,
;72
1î&
1î&
57,3ì
55,1*ì
9&&
5&/.ì
5&/.ë
77,3ì
75,1*ì
*1'7
ç
è
é
ê
ë
ì
éé
éê
éë
éì
éí
/;7êìê1(
ìç
ìè
ìé
ìê
ìë
ìì
ìí
ä
*1'5
1î&
1î&
/3%.
;72
;7,
1î&
1î&
/;7êìç3(
ìå
ìä
ëí
ëì
ëë
ëê
ëé
ëè
ëç
ëæ
ëå
ì
ë
ê
é
è
ç
æ
å
êä
êå
êæ
êç
êè
êé
êê
êë
êì
êí
ëä
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
1î&
77,3ì
75,1*ì
*1'7
1î&
1î&
;7,
;72
1î&
1î&
57,3ì
55,1*ì
9&&
5&/.ì
1î&
77,3ì
75,1*ì
*1'7
ç
è
é
ê
ë
ì
éé
éê
éë
éì
éí
/;7êìç1(
éðìë
L1
/;7êìê î /;7êìç 3LQ $VVLJQPHQWV DQG 6LJQDO 'HVFULSWLRQV
7DEOH ìã /;7êìê î /;7êìç 6LJQDO 'HVFULSWLRQV
3LQ ú
6\PERO
,î2
ì
57,3ì
,
ë
ë
55,1*ì
,
é
é
5&/.ì
2
5HFRYHUHG &ORFNï &ORFN RXWSXW UHFRYHUHG IURP &KDQQHO ì UHFHLYH LQSXWï
ç
ëí
77,3ì
2
5HSHDWHU 7LS DQG 5LQJ 2XWSXWVï 2SHQðGUDLQ RXWSXW GULYHUV IRU &KDQQHO ìï
æ
ëì
75,1*ì
2
ìì
ëè
;7,
,
ìë
ëç
;72
2
&U\VWDO 2VFLOODWRU 3LQVï $Q åïìäë 0+] FU\VWDO VKRXOG EH FRQQHFWHG DFURVV
WKHVH WZR SLQVï )RU DOWHUQDWLYH WLPLQJ UHIHUHQFHVñ UHIHU WR $SSOLFDWLRQ ,QIRUPDð
WLRQï
ê
ê
9&&
¤
3RZHU 6XSSO\ï 3RZHU VRXUFH IRU DOO FLUFXLWVï òè 9 õ‘íïëè 9ôï
å
ëë
*1'7
¤
7UDQVPLW *URXQGï *URXQG UHWXUQ IRU WUDQVPLW FLUFXLWVï
ìç
éé
*1'5
¤
5HFHLYH *URXQGï *URXQG UHWXUQ IRU UHFHLYH FLUFXLWVï
ì
ì
ëê
75,1*ë
2
ìíì
ëéì
77,3ë
2
6LGH ë 5LQJ DQG 7LS 2XWSXWVï 2Q WKH /;7êìê GXDO UHSHDWHUîWUDQVFHLYHUñ WKHVH
DUH RSHQðGUDLQ RXWSXW GULYHUV IRU &KDQQHO ëï
ìéì
éëì
55,1*ë
,
ìèì
éêì
57,3ë
,
èì
ìäì
5&/.ë
2
5HFRYHUHG &ORFNï 2Q WKH /;7êìê GXDO UHSHDWHUîWUDQVFHLYHUñ WKLV LV WKH UHFRYð
HUHG FORFN RXWSXW IRU &KDQQHO ëï
ìê
éì
/3%.
,
/RRSEDFN &RQWUROï 2Q WKH /;7êìêñ WKLV SLQ FRQWUROV /RRSEDFN 6HOHFWLRQã
',3
3/&&
ì
ä
'HVFULSWLRQ
5HSHDWHU 7LS DQG 5LQJ ,QSXWVï 7LS DQG ULQJ UHFHLYH LQSXWV IRU &KDQQHO ìï
6LGH ë 5LQJ DQG 7LS ,QSXWVï 2Q WKH /;7êìê UHSHDWHUîWUDQVFHLYHUñ WKHVH DUH WLS
DQG ULQJ UHFHLYH LQSXWV IRU &KDQQHO ëï
+LJK
/RRSEDFN VLGH ì GDWD WR VLGH ëâ /RZ
1R /RRSEDFNï
2Q WKH /;7êìç VLQJOH UHSHDWHUîWUDQVFHLYHUñ WKLV SLQ PXVW EH FRQQHFWHG WR *1'ï
ìï 2Q WKH /;7êìç1( DQG /;7êìç3( VLQJOH UHSHDWHUîWUDQVFHLYHUñ WKHVH SLQV DUH QRW FRQQHFWHG õ1î&ôï
ëï 2Q WKH /;7êìê3( DQG /;7êìç3(ñ SLQV è WKURXJK ìå DQG ëæ WKURXJK éí DUH QRW FRQQHFWHG õ1î&ôï
L1
éðìê
/;7êìê î /;7êìç /RZ 3RZHU (ì 3&0 5HSHDWHUV î 7UDQVFHLYHUV
)81&7,21$/ '(6&5,37,21
,QWURGXFWLRQ
7LPLQJ 5HFRYHU\ )XQFWLRQ
&0 VLJQDOV DUH DWWHQXDWHG DQG GLVSHUVHG LQ WLPH DV WKH\
WUDYHO GRZQ D WUDQVPLVVLRQ OLQHï 5HSHDWHUVîWUDQVFHLYHUV DUH
UHTXLUHG WR DPSOLI\ñ UHVKDSHñ UHJHQHUDWH DQG UHWLPH WKH
3&0 VLJQDOñ WKHQ UHWUDQVPLW LWï
7KH /;7êìê DQG /;7êìç HDFK FRQWDLQ DOO WKH FLUFXLWV
UHTXLUHG WR EXLOG D FRPSOHWH 3&0 UHSHDWHUîWUDQVFHLYHUï
7KH RSHUDWLRQDO UDQJH RI WKH UHSHDWHUVîWUDQVFHLYHUV LV í WR
éê G% RI FDEOH ORVV DW ìïíëé 0+] õHTXDO WR ë NP RI ëë
JDXJH SXOSðLQVXODWHG FDEOH EHWZHHQ UHSHDWHUVôï
5HFHLYH )XQFWLRQ
7KH VLJQDO LV UHFHLYHG WKURXJK D ì ã ì WUDQVIRUPHU DW 57,3
DQG 55,1* DQG HTXDOL]HG IRU XS WR éê G% RI FDEOH ORVVï
7KH UHFHLYH HTXDOL]HU XVHV D SURSULHWDU\ RQðFKLS DGDSWLYH
ILOWHU WHFKQLTXH ZKLFK LV HTXLYDOHQW WR D êðSRUW $/%2
HTXDOL]HU GHVLJQï 7KH PRQROLWKLF VWUXFWXUH RI WKH ILOWHU DQG
WKH DEVHQFH RI H[WHUQDO FRPSRQHQWV SURYLGH H[FHOOHQW ,6,
DQG GLVSHUVLRQ HOLPLQDWLRQñ DQG DFFXUDWH GDWD WUDQVIHU RYHU
WHPSHUDWXUHï
5HFHLYHU QRLVH LPPXQLW\ LV RSWLPL]HG E\ D SURSULHWDU\
FURVVWDON HOLPLQDWLRQ ILOWHU ZKLFK HOLPLQDWHV WKH XQQHHGHG
KLJK IUHTXHQF\ FRPSRQHQWV RI WKH UHFHLYHG VLJQDOï
7KH HTXDOL]HG VLJQDO LV IXOO ZDYH UHFWLILHG DQG XVHG WR JHQð
HUDWH LQIRUPDWLRQ IRU WKH WLPLQJ UHFRYHU\ FLUFXLWï 7KLV FLUð
FXLW XVHV D PL[HG DQDORJîGLJLWDO WHFKQLTXH WR SURYLGH D ORZð
MLWWHU 3// VLPLODU WR D WXQHG WDQN ZLWK H[FHOOHQW MLWWHU WUDFNð
LQJ DELOLW\ï %XW XQOLNH D WXQHG WDQNñ WKH IUHH UXQQLQJ IUHð
TXHQF\ RI WKH 3// FORFN LV DFFXUDWHO\ FRQWUROOHG E\ WKH
H[WHUQDO UHIHUHQFH FU\VWDOï 1R DGMXVWPHQW LV UHTXLUHGï
5HIHU WR $SSOLFDWLRQ ,QIRUPDWLRQ IRU FU\VWDO VSHFLILFDWLRQVï
5HFRYHUHG FORFN VLJQDOV DUH DYDLODEOH RQ WKH 5&/. SLQV
IRU DSSOLFDWLRQV WKDW UHTXLUH ELW VWUHDP V\QFKURQL]DWLRQï
7UDQVPLW )XQFWLRQ
5HFRYHUHG GDWD LV UHðV\QFKURQL]HG WR WKH UHFRYHUHG FORFN
VLJQDO E\ WKH WLPLQJ UHFRYHU\ DQG WUDQVPLW FRQWURO VHFWLRQï
7KH GDWD LV WKHQ UHWUDQVPLWWHG WR WKH QHWZRUN YLD WZR RSHQð
GUDLQñ KLJKðYROWDJH WUDQVLVWRUVï
/RRSEDFN )XQFWLRQ
õ/;7êìê 2QO\ô
7KH /;7êìê LQFOXGHV D ORRSEDFN IXQFWLRQ IRU QHWZRUN
GLDJQRVWLFVï :LWK WKH /3%. SLQ /RZñ WKH UHSHDWHUîWUDQVð
FHLYHU RSHUDWHV LQ WKH QRUPDO PRGHï :KHQ WKH /3%. SLQ
LV SXOOHG +LJKñ WKH GDWD LV ORRSHG EDFN IURP VLGH ì WR VLGH ëï
$33/,&$7,21 ,1)250$7,21
7\SLFDO $SSOLFDWLRQ
)LJXUH ë VKRZV D W\SLFDO (ì GXDO UHSHDWHUîWUDQVFHLYHU DSSOLð
FDWLRQ FLUFXLW XVLQJ VWDQGDUG UHSHDWHUîWUDQVFHLYHU FDUG HGJH
FRQQHFWLRQVï ,W LQFOXGHV D MXPSHUðVHOHFWDEOH VKRUWLQJ
RSWLRQ IRU WKH IDXOW ORFDWLRQ FLUFXLWU\ õGDVKHG OLQHV DW FRQð
QHFWRU SLQV ë DQG æôï 7DEOH ë OLVWV WKH VSHFLILFDWLRQV IRU WKH
FU\VWDO XVHG ZLWK WKH /;7êìê RU /;7êìç UHSHDWHUï
$OWHUQDWH 7LPLQJ 5HIHUHQFH
)RU DSSOLFDWLRQV ZKHUH D FU\VWDO LV QRW DSSURSULDWHñ D
ëïíéå 0+] RU åïìäë 0+]ñ &026ðOHYHO õ+LJK ≥ éïè9ñ
/RZ ≤ íïè9ô RVFLOODWRU PD\ EH FRQQHFWHG WR ;7,ï ,Q WKLV
VLWXDWLRQñ ;72 PXVW EH WLHG WR 9FF DQG *1' YLD D YROWDJH
GLYLGHU DV VKRZQ LQ )LJXUH ê
éðìé
7DEOH ëã &U\VWDO 6SHFLILFDWLRQV
3DUDPHWHU
6SHFLILFDWLRQ
)UHTXHQF\
åïìäë 0+]
)UHTXHQF\ WROHUDQFHì
‘ èí SSP
(IIHFWLYH VHULHV UHVLVWDQFH
êí Ω 0D[LPXP
&U\VWDO FXW
$7
5HVRQDQFH
3DUDOOHO
0D[LPXP GULYH OHYHO
ëïí P:
0RGH RI RSHUDWLRQ
)XQGDPHQWDO
ìï # ëè ƒ&ñ & /RDG ìí S)â DQG IURP ðéí ƒ& WR òåè ƒ&
õ5HI ëè ƒ& UHDGLQJô
L1
/;7êìê î /;7êìç $SSOLFDWLRQ ,QIRUPDWLRQ
)LJXUH ëã 7\SLFDO (ì 'XDO 5HSHDWHUî7UDQVFHLYHU $SSOLFDWLRQ
6&+277
úìíäèì
èïç Ω ì:
è
õ7\SLFDOô
1RWH ì
1RWH ë
5
57,3ì
1RWH ë
55,1*ì
çí Ω
9&&
ì “)
èïì 9
çïê 9
èïç Ω ì:
é
;07ì
èïç Ω ì:
ê
ë
*1'5
5
èïç Ω ì:
ìì
55,1*ë
5&/.ë
;72
77,3ì
;7,
åïìäë 0+]
77,3ë
75,1*ë
êê Ω
êê Ω
èïç Ω ì:
å
;07ë
èïç Ω ì:
ä
æ
êê Ω
1RWH ê
ì ã ìFW ã êFW
6&+277
úìëèêè
ì ã ìFW
1RWH ë
57,3ë
/3%.
ëéí Ω ìíí “+
ìë
5&9ë
õ7\SLFDOô
1RWH ì
5
5&/.ì
75,1*ì
*1'7
êê Ω
1RWH ë
/;7êìê
5
ìFW ã ì
èïç Ω ì:
èïç Ω ì:
ìëí Ω
ìëí Ω
5&9ì
ç
6&+277
úìíäèì
ìíí “)
íïì “)
1RWH ê
1RWH ê
1RWH ê
ìíí “+ ëéí Ω
êFW ã ì ã ìFW
6&+277
úìëèêè
ìí
127(6ã
ìï &KHFN FDEOH LPSHGDQFH UHTXLUHG E\ WKH DSSURYLQJ WHOHFRP DJHQF\ï
ëï 57,3î55,1* 5HVLVWRUV DUH XVHG WR SURYLGH VXUJH SURWHFWLRQï 9DOXHV FDQ EH í ¤ ìíí Ω.
êï 77,3î75,1* =HQHUV DUH XVHG WR UHGXFH VXUJH VXVFHSWLELOLW\ï 9DOXHV FDQ EH ìë ¤ ìé 9ï
)LJXUH êã $OWHUQDWH 7LPLQJ 5HIHUHQFH &LUFXLWU\
/;7êìê
9FF
ë NΩ
;72
ê NΩ
;7,
&026ðOHYHO ,QSXW
2VFLOODWRU
õ6HH 1RWH ìô
ìï 2VFLOODWRU GULYH OHYHOVã
+LJK ≥ éïè 9
/RZ ≤ íïè 9
L1
éðìè
/;7êìê î /;7êìç /RZ 3RZHU (ì 3&0 5HSHDWHUV î 7UDQVFHLYHUV
7(67 63(&,),&$7,216
127(
0LQLPXP DQG PD[LPXP YDOXHV LQ 7DEOHV ê WKURXJK ç DQG )LJXUHV é WKURXJK ä UHSUHVHQW WKH SHUIRUPDQFH VSHFLILFDWLRQV RI
WKH /;7êìêîêìç UHSHDWHUVîWUDQVFHLYHUV DQG DUH JXDUDQWHHG E\ WHVW H[FHSWñ DV QRWHGñ E\ GHVLJQï
7DEOH êã $EVROXWH 0D[LPXP 5DWLQJV
3DUDPHWHU
6\PERO
8QLWV
6XSSO\ YROWDJH õPLQ WR PD[ô
9&&
ðíïê 9 WR òç 9
'ULYHU 9ROWDJH
92+
ìå 9
5HFHLYHU &XUUHQW
,&&
ìíí P$
2SHUDWLQJ WHPSHUDWXUH õPLQ WR PD[ô
723
ðéí ƒ& WR òåè ƒ&
6WRUDJH WHPSHUDWXUH õPLQ WR PD[ô
767
ðçè ƒ& WR òìèí ƒ&
&$87,21
([FHHGLQJ WKHVH YDOXHV PD\ FDXVH SHUPDQHQW GDPDJHï )XQFWLRQDO RSHUDWLRQ XQGHU WKHVH FRQGLWLRQV LV QRW
LPSOLHGï ([SRVXUH WR PD[LPXP UDWLQJ FRQGLWLRQV IRU H[WHQGHG SHULRGV PD\ DIIHFW GHYLFH UHOLDELOLW\ï
7DEOH éã 5HFRPPHQGHG 2SHUDWLQJ &RQGLWLRQV õ9ROWDJHV DUH ZLWK UHVSHFW WR JURXQGïô
3DUDPHWHU
6\PERO
0LQ
7\S
0D[
8QLWV
6XSSO\ YROWDJH
9&&
éïæè
èïí
èïëè
9
2SHUDWLQJ WHPSHUDWXUH
723
ðéí
¥
åè
ƒ&
7DEOH èã (OHFWULFDO &KDUDFWHULVWLFV õ2YHU 5HFRPPHQGHG 5DQJHô
3DUDPHWHU
,QWHUIHUHQFH 0DUJLQ
5HFHLYHU '\QDPLF 5DQJH
'LJLWDO 2XWSXWV ð /RZ
6\PERO
0LQ
7\Sì
0D[
8QLWV
615
ðìé
¤
¤
G%
¤
ðéê
¤
í
G%
õ,2/
ìïç P$
92/
¤
¤
íïé
9
õ,2/
ìí µ$ô
92/
¤
íïë
¤
9
õ,2+
íïé P$
92+
ëïé
¤
¤
9
õ,2+ á ìí µ$ô
92+
¤
éïè
¤
9
'LJLWDO ,QSXWV ð +LJK
9,+
ëïí
¤
¤
9
'LJLWDO ,QSXWV ð /RZ
9,/
¤
¤
íïå
9
$OO ]HURV
,&&
¤
ìè
ëê
P$
$OO RQHV
,&&
¤
¤
ëè
P$
,//
¤
¤
ìíí
µ$
$3
íïçè
¤
íïäè
9
'LJLWDO 2XWSXWV ð +LJK
6XSSO\ &XUUHQW õIURP 9&& VXSSO\ôë
'ULYHU /HDNDJH &XUUHQW õ9'95
ìå 9ô
'ULYHU 3XOVH $PSOLWXGH õ'ULYHU RXWSXW ,2
ëí P$ô
ìï 7\SLFDO YDOXHV DUH DW ëèƒ & DQG DUH IRU GHVLJQ DLG RQO\â WKH\ DUH QRW JXDUDQWHHG DQG QRW VXEMHFW WR SURGXFWLRQ WHVWLQJï
ëï 0HDVXUHG ZLWK &/2$' ≤ ìí S)ñ 5/2$' ! ìíí NΩ.
éðìç
L1
/;7êìê î /;7êìç 7HVW 6SHFLILFDWLRQV
)LJXUH éã 'LJLWDO 7LPLQJ &KDUDFWHULVWLFV
W)
W5
5&/.
W768
W7+
77,3ñ
75,1*
õZLWK H[WHUQDO SXOOðXSô
W3:
7DEOH çã 'LJLWDO 7LPLQJ &KDUDFWHULVWLFV õ2YHU 5HFRPPHQGHG 5DQJHô VHH )LJXUH é
6\PERO
0LQ
7\Sì
0D[
8QLWV
W3:
ëìä
ëéé
ëçä
QV
¤
¤
¤
ìè
QV
5LVH DQG )DOO 7LPH õDQ\ GLJLWDO RXWSXWëô
W5 î W)
¤
¤
ëè
QV
6HWXS 7LPH ð 77,3î75,1* WR 5&/.
W768
W7+
äí
¤
¤
QV
äí
¤
¤
QV
3DUDPHWHU
'ULYHU 3XOVH :LGWK
'ULYHU 3XOVH ,PEDODQFH
+ROG 7LPH ð 77,3î75,1* IURP 5&/.
ìï 7\SLFDO YDOXHV DUH DW ëèƒ & DQG DUH IRU GHVLJQ DLG RQO\â WKH\ DUH QRW JXDUDQWHHG DQG QRW VXEMHFW WR SURGXFWLRQ WHVWLQJï
ëï 0HDVXUHG ZLWK &/2$' ≤ ìí S)ñ 5/2$' ! ìíí NΩ.
L1
éðìæ
/;7êìê î /;7êìç /RZ 3RZHU (ì 3&0 5HSHDWHUV î 7UDQVFHLYHUV
7HVW 6HWXSV
)LJXUH èã 5HFHLYHU -LWWHU 7ROHUDQFH 7HPSODWH
6LQXVRLGDO ,QSXW -LWWHU $PSOLWXGH
õ3N ð 3N 8,ô
,QWURGXFWLRQ
%RWK WKH /;7êìê DQG /;7êìç DUH IXOO\ WHVWHG õìííø $&
DQG '& SDUDPHWHUVô XVLQJ LQSXWV JHQHUDWHG E\ /HYHO 2QH©V
SURSULHWDU\ WUDQVPLVVLRQ OLQH DQG QHWZRUN VLPXODWRUï
'HYLFH WHVWLQJ LQFOXGHV UHFHLYHU MLWWHU WROHUDQFHñ MLWWHU WUDQVð
IHU DQG LQWHUIHUHQFH PDUJLQ IRU OLQH ORVVHV IURP í G% WR éê
G% # ìïíëé 0+]ï 6SHFLILFDWLRQV DQG EHQFK WHVW VHWXSV DUH
VKRZQ LQ )LJXUHV è WKURXJK äï
ðëí G%î'HFDGH 6ORSH
$FFHSWDEOH 5DQJH
íïê
8,
5HFHLYHU -LWWHU 7ROHUDQFH 7HVWLQJ
5HFHLYHU MLWWHU WROHUDQFH PHHWV WKH WHPSODWH VKRZQ LQ )LJð
XUH èñ ZKHQ RSHUDWHG DW OLQH ORVVHV IURP í WR éê G%ï )LJXUH
æ VKRZV WKH VHWXS XVHG IRU MLWWHU WROHUDQFH WHVWLQJï
ëí +]
-LWWHU )UHTXHQF\
ìí +]
éí N+]
)LJXUH çã 5HFHLYHU -LWWHU 7UDQVIHU 7HPSODWH
5HFHLYHU -LWWHU 7UDQVIHU 7HVWLQJ
íïì
-LWWHU *DLQ õG%ô
5HFHLYHU MLWWHU WUDQVIHU PHHWV WKH WHPSODWH VKRZQ LQ )LJXUH
çñ ZKHQ RSHUDWHG ZLWK OLQH ORVVHV IURP í WR éê G% DQG LQSXW
MLWWHU DPSOLWXGH RI íïìè 8, SHDNðWRðSHDNï -LWWHU JDLQ DW D
JLYHQ IUHTXHQF\ LV GHILQHG DV WKH GLIIHUHQFH EHWZHHQ LQWULQð
VLF MLWWHU DQG DGGLWLYH MLWWHU DW WKH PHDVXUHPHQW IUHTXHQF\ñ
GLYLGHG E\ WKH DPSOLWXGH RI WKH LQSXW MLWWHUï )LJXUH å VKRZV
WKH VHWXS XVHG IRU MLWWHU WUDQVIHU WHVWLQJï
ðëí G%î'HFDGH
6ORSH
í
$FFHSWDEOH 5DQJH
ìí
ëí N
-LWWHU )UHTXHQF\ õ+]ô
)LJXUH æã 5HFHLYHU -LWWHU 7ROHUDQFH 7HVW 6HWXS
4566
6RXUFH ZLWK
+'%ê
(QFRGLQJ
6LQXVRLGDO
-LWWHU
0RGXODWRU
&DEOH
í G% WR éê G%
# ìïíëé 0+]
/;7êìêî
/;7êìç
5HSHDWHUî
7UDQVFHLYHU
(UURU
'HWHFWRU
)LJXUH åã 5HFHLYHU -LWWHU 7UDQVIHU 7HVW 6HWXS
4566
6RXUFH ZLWK
+'%ê
(QFRGLQJ
éðìå
6LQXVRLGDO
-LWWHU
0RGXODWRU
&DEOH
í G% WR éê G%
# ìïíëé 0+]
/;7êìêî
/;7êìç
5HSHDWHUî
7UDQVFHLYHU
-LWWHU
'HPRGXODWRU
6SHFWUXP
$QDO\]HU
L1
/;7êìê î /;7êìç 7HVW 6SHFLILFDWLRQV
,QWHUIHUHQFH 0DUJLQ 7HVWLQJ
7KH /;7êìê DQG /;7êìç UHFHLYHU QRLVH LQWHUIHUHQFH PDUð
JLQ LV VSHFLILHG DW D PLQLPXP RI ðìé G% IRU OLQH ORVVHV IURP
í G% WR éê G%ï 7KH WHVW VHWXS XVHG WR PHDVXUH QRLVH PDUJLQ
LV VKRZQ LQ )LJXUH äï
)LJXUH äã 5HFHLYHU 1RLVH ,QWHUIHUHQFH 0DUJLQ 7HVW 6HWXS
4566 6RXUFH
ZLWK $UWLILFLDO /LQH
,QWHUIHUHQFH *HQHUDWRU
DQG (UURU 'HWHFWRU
L1
/LQH 2XW
/LQH ,Q
/;7êìêî
/;7êìç
5HSHDWHUî
7UDQVFHLYHU
éðìä
/;7êìê î /;7êìç /RZ 3RZHU (ì 3&0 5HSHDWHUV î 7UDQVFHLYHUV
127(6
éðëí
L1