(OLWH07 0%$ '5$0 . [ '5$0 )$67 3$*( 02'( )($785(6 25'(5,1* ,1)250$7,21 3$&.$*( ; RUJDQL]DWLRQ )$67 3$*( DFFHVV PRGH y &$6 %\WH:RUG 5HDG:ULWH RSHUDWLRQ y 6LQJOH 9 r y y SLQ PLO 62- SRZHU VXSSO\ y 77/FRPSDWLEOH LQSXWV DQG RXWSXWV y F\FOH UHIUHVK LQ PV y 5HIUHVK PRGHV 5$6 RQO\ &$6 %()25( SLQ PLO 7623 7\SH,, 352'8&7 12 5$6 &%5 0%$- DQG +,''(1 y -('(& VWDQGDUG SLQRXW y .H\ $& 3DUDPHWHU 3$&.,1* 7<3( 0%$620%$- W5$& W&$& W5& W3& 0%$- 0%$7 0%$7 0%$7 0%$7 7623,, *(1(5$/ '(6&5,37,21 7KH 0%$ PRGH 9 r VLQJOH SRZHU VXSSO\ $FFHVV WLPH LV D UDQGRPO\ DFFHVVHG VROLG VWDWH PHPRU\ RUJDQL]HG DV [ ELWV GHYLFH ,W RIIHUV )DVW 3DJH DQG SDFNDJH W\SH 62- 7623 ,, DUH RSWLRQDO IHDWXUHV RI WKLV IDPLO\ $OO WKHVH IDPLO\ KDYH &$6 EHIRUH 5$6 5$6 RQO\ UHIUHVK DQG +LGGHQ UHIUHVK FDSDELOLWLHV &$6 DQG OHDYH &$6 &$6/ &$6+ DUH XVHG &$6/ WUDQVLWLQJ ORZ GXULQJ 5($' RU :5,7( F\FOH ZLOO RXWSXW RU LQSXW GDWD LQWR WKH ORZHU E\WH ,2a,2 DQG &$6+ WUDQVLWLQJ ORZ ZLOO 7ZR DFFHVV PRGHV DUH VXSSRUWHG E\ WKLV GHYLFH %\WH DFFHVV DQG :RUG DFFHVV 8VH RQO\ RQH RI WKH WZR WKH RWKHU VWD\LQJ KLJK ZLOO UHVXOW LQ D %<7( DFFHVV :25' DFFHVV KDSSHQV ZKHQ WZR RXWSXW RU LQSXW GDWD LQWR WKH XSSHU E\WH ,2a 3,1 $66,*10(17 62- 7RS 9LHZ 9 && , 2 , 2 , 2 , 2 9 && , 2 , 2 , 2 ,2 1& 1& :( 5$6 1& $ $ $ $ 9 && (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 7623 7\SH,, 7RS 9LHZ 9 66 9 && , 2 ,2 , 2 ,2 , 2 , 2 9 66 , 2 , 2 , 2 ,2 ,2 9 && ,2 ,2 ,2 ,2 ,2 1& & $ 6/ & $6+ 2( 1& 1& 1& :( 5$ 6 1& $ $ $ $ $ $ $ $ 9 66 9 && 9 66 ,2 ,2 ,2 ,2 9 66 ,2 ,2 ,2 ,2 1 & & $6 / & $6 + 2( 1 & $ $ $ $ 9 66 3XEOLFDWLRQ 'DWH )HE 5HYLVLRQ (OLWH07 0%$ )81&7,21$/ %/2&. ',$*5$0 :( '$7$,1 %8))(5 5$6 &21752/ ,2 /2*,& &$6/ ,2 &$6+ &/2&. *(1(5$725 '$7$287 %8))(5 &2/801 $''5(66 2( &2/801 '(&2'(5 %8))(5 $ $ 5()5(6+ ,2 *$7,1* &21752/(5 $ 6(16( $03/,),(56 $ [ $ 5()5(6+ $ &2817(5 52: '(&2'(5 $ $ 52: $''5(66 [ [ 0(025< $55$< %8))(56 9%% *(1(5$725 9&& 966 3,1 '(6&5,37,216 3,1 12 3,1 1$0( 7<3( aa $a$ ,QSXW '(6&5,37,21 $GGUHVV ,QSXW 5RZ $GGUHVV $a$ &ROXPQ $GGUHVV $a$ aaaa 5$6 &$6+ &$6/ :( 2( ,2 a ,2 ,QSXW &ROXPQ $GGUHVV 6WUREH 8SSHU %\WH &RQWURO ,QSXW &ROXPQ $GGUHVV 6WUREH /RZHU %\WH &RQWURO ,QSXW :ULWH (QDEOH ,QSXW 2XWSXW (QDEOH ,QSXW 2XWSXW 'DWD ,QSXW 2XWSXW 6XSSO\ 3RZHU 9 66 *URXQG *URXQG 9 9 (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 5RZ $GGUHVV 6WUREH && ,QSXW 1& 1R &RQQHFW 3XEOLFDWLRQ 'DWH )HE 5HYLVLRQ (OLWH07 0%$ $%62/87( 0$;,080 5$7,1*6 9ROWDJH RQ $Q\ SLQ 5HODWLYH WR 9VV 9 WR 9 3HUPDQHQW 2SHUDWLQJ 7HPSHUDWXUH 7$ DPELHQW q& WR q& 0D[LPXP 5DWLQJV§ DUH H[FHHGHG 7KLV LV D VWUHVV UDWLQJ 6WRUDJH 7HPSHUDWXUH SODVWLF q& WR q& FRQGLWLRQV LQGLFDWHG LQ WKH RSHUDWLRQDO VHFWLRQV RI WKLV GHYLFH GDPDJH RFFXU LI ¦$EVROXWH RQO\ DQG IXQFWLRQDO RSHUDWLRQ RI WKH GHYLFH DERYH WKRVH VSHFLILFDWLRQ 3RZHU 'LVVLSDWLRQ : LV QRW LPSOLHG ([SRVXUH WR DEVROXWH PD[LPXP UDWLQJ FRQGLWLRQV IRU H[WHQGHG SHULRGV PD\ 6KRUW &LUFXLW 2XWSXW &XUUHQW P$ DIIHFW UHOLDELOLW\ '& (/(&75,&$/ &+$5$&7(5,67,&6 $1' 5(&200(1'(' 23(5$7,1* &21',7,216 q& d 7$ d q& 9&& 9 r XQOHVV RWKHUZLVH QRWHG '(6&5,37,21 PD\ &21',7,216 6<0%2/ 0,1 0$; 6XSSO\ 9ROWDJH 9&& 9 6XSSO\ 9ROWDJH 966 9 ,QSXW +LJK /RJLF9ROWDJH 9,+ 9&& 9 ,QSXW /RZ /RJLF9ROWDJH 9,/ 9 ,/, P$ ,/2 P$ ,QSXW /HDNDJH &XUUHQW 9 d 9 + d 9 , 9 d 9287 d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q& 9&& 9 r 3$5$0(7(5 6<0%2/ 7<3 0$; 81,7 &, S) &, S) &, 2 S) ,QSXW &DSDFLWDQFH DGGUHVV ,QSXW &DSDFLWDQFH 5$6 &$6+ &$6/ :( 2( 2XWSXW FDSDFLWDQFH ,2a,2 $& (/(&75,&$/ &+$5$&7(5,67,&6 7D 7HVW &RQGLWLRQV ,QSXW WLPLQJ UHIHUHQFH WR q& 9&& 9 r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t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t DQ RSHQ FLUFXLW WKURXJKRXW WKH HQWLUH F\FOH ,I W W$:'PLQ DQG W&:' DQG WKH t W&:'PLQ WKH GDWD RXWSXW ZLOO FRQWDLQ GDWD UHDG IURP WKH VHOHFWHG FHOO ,I QHLWKHU RI (OLWH 0HPRU\ 7HFKQRORJ\ ,QF &$6/ LQSXW ,2a E\ SDUDPHWHUV LQ /$7( :5,7( DQG 5($'02',)< ($5/< :5,7( F\FOH DQG WKH GDWD RXWSXW ZLOO UHPDLQ &$6 IDOOLQJ HGJH &$6 ULVLQJ HGJH 2XWSXW SDUDPHWHU ,2 LV UHIHUHQFHG WR FRUUHVSRQGLQJ /DVW IDOOLQJ t KLJK GXULQJ :5,7( RSHQ GXULQJ WKH :5,7( F\FOHV W:&6 W5:' W$:' DQG W&:' DUH UHVWULFWLYH RSHUDWLQJ LV 5($':5,7( 2( 7KH ,2V RSHQ GXULQJ 5($' F\FOHV RQFH W2)) RU 5HIHUHQFHG WR WKH ODWWHU F\FOH JRLQJ ORZ F\FOH LQ RUGHU WR HQVXUH WKDW WKH RXWSXW EXIIHUV ZLOO EH W2))PD[ GHILQHV WKH W5:'PLQ W$:' :( /$7( :5,7( DQG 5($'02',)<:5,7( F\FOHV PXVW 5HIHUHQFHG WR WKH HDUOLHU t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a E\ &$6+ &$6 &$6 &$6 HGJH WR QH[W F\FOH©V ODVW ULVLQJ &$6 HGJH WR ILUVW ULVLQJ HGJH HGJH /DVW ULVLQJ &$6 HGJH WR ILUVW IDOOLQJ 5HIHUHQFHG WR WKH ODWWHU $OO ,2V FRQWUROOHG E\ &$6+ &$6 HGJH &$6 IDOOLQJ HGJH 2( UHJDUGOHVV &$6/ DQG 3XEOLFDWLRQ 'DWH )HE 5HYLVLRQ (OLWH07 0%$ 7UXWK 7DEOH )81&7,21 5$6 &$6/ &$6+ :( Æ 6WDQGE\ + 5HDG :RUG / / 5HDG /RZHU %\WH / 5HDG 8SSHU %\WH Æ ; / + / 52: &2/ / + + / 52: &2/ / + / + / 52: &2/ :ULWH :RUG (DUO\ :ULWH / / / / ; 52: &2/ :ULWH /RZHU %\WH (DUO\ / / + / ; 52: &2/ :ULWH 8SSHU %\WH (DUO\ / + / / ; 52: &2/ 5HDG:ULWH / / / 52: &2/ 'DWD2XW 'DWD,Q 52: &2/ 'DWD2XW &2/ 'DWD2XW &2/ 'DWD,Q &2/ 'DWD,Q &2/ 'DWD2XW 'DWD,Q &2/ 'DWD2XW 'DWD,Q &2/ 'DWD2XW )DVW3DJH0RGH :ULWH )DVW3DJH0RGH 5HDG:ULWH ; 127(6 ; Æ Æ Æ Æ Æ Æ + '46 & W ; 5HDG ; 5 W ; )DVW3DJH0RGH + $''5(66(6 2( Æ Æ Æ Æ Æ Æ Æ + / / Æ + VW &\FOH / + / + / + / QG &\FOH / + / + / + / VW &\FOH / + / + / / ; QG &\FOH / + / + / / ; VW &\FOH / + / + / + QG &\FOH / + / + / + +LGGHQ 5HIUHVK ÆÆ / 5$6 2QO\ 5HIUHVK + / / Æ/ &%5 5HIUHVK + Æ Æ / / / / 52: Æ Æ + 52: + / / + / 52: + + ; ; 52: / / + ; ; +LJK= 'DWD2XW /RZHU %\WH 'DWD2XW 8SSHU %\WH 'DWD2XW /RZHU %\WH 'DWD2XW 8SSHU %\WH 'DWD2XW 'DWD,Q /RZHU %\WH 'DWD,Q 8SSHU %\WH +LJK= /RZHU %\WH +LJK= 8SSHU %\WH 'DWD,Q +LJK= ; +LJK= &$6/ RU &$6+ DFWLYH &$6/ RU &$6+ DFWLYH 1RWH 7KHVH :5,7( F\FOHV PD\ DOVR EH %<7( :5,7( F\FOHV HLWKHU 7KHVH 5($' F\FOHV PD\ DOVR EH %<7( 5($' F\FOHV HLWKHU 2QO\ RQH &$6 PXVW EH DFWLYH (OLWH 0HPRU\ 7HFKQRORJ\ ,QF &$6/ RU &$6+ 3XEOLFDWLRQ 'DWH )HE 5HYLVLRQ (OLWH07 0%$ 5($' &<&/( W5 W 5 $ 6 & W 5$ 6 53 9 , + 9 , / W&6 W& W 5& 53 ' + W5 6 + W& $ 6 W55+ W & /& + 9 , + & $ 6 / & $ 6 + 9 , / W W $ 6 5 W 5 $ ' W 5 $ + $ 5 W$ 6 & W5 &6 W 5 $ / W & $ + 9 , + $ ' ' 5 & 2 / 8 0 1 5 2 : 9 , / 5 2 : W5&+ 9 , + : ( , 2 9 , / 9 2 + W $ $ W 5$ & W & $ & W &/ = W 2 3 ( 1 9 $ / , ' 2 ) ) ' $ 7 $ 9 2 / W 2 $& W 2 3( 1 2 ) ) 9 , + 2( 9 , / ($5/< :5,7( &<&/( W5 W & W 5$ 6 53 9 , + 5 $ 6 9 , / W&6 + W56 W & $ 6 / & $ 6 + W 5& &53 ' W& + $ 6 W & /& + 9 , + 9 , / W W $ 6 5 W 5 $ ' W 5 $ + $ 5 W$ 6 & W 5 $ / W & $ + 9 , + $ ' ' 5 9 , / & 2 / 8 0 1 5 2 : 5 2 : W& : / W5 : / W: W : &6 & 5 W : & + W : 3 9 , + : ( 9 , / W '+ W W' '6 5 + 9 , + , 2 9 , / 9 $ / , ' ' $ 7 $ 9 , + 2( 9 , / '21 7 &$ 5 ( 81 '() , 1(' (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 3XEOLFDWLRQ 'DWH )HE 5HYLVLRQ (OLWH07 0%$ 5($' :5,7( &<&/( /$7( :5,7( DQG 5($'02',)<:5,7( &<&/(6 W5 : & W5$6 5$ 6 9, + 9, / W5 3 W& 6 + W5 6 + W& 5 &$6/ & $6+ 9, + 9, / W5 &' 3 W& $6 W &/ & + W$5 W $6 5 $''5 9 , + 9 , / W5 $' W5 $+ W5 5 2 : &2 / 8 0 1 W5 :( 9 , + 9 , / $/ W& $+ W $6 & &6 5 2 : W5: ' W&: W&: ' W5 W$: ' W W / : / : 3 $ $ W5 $& W & $& W' 6 W&/= , 2 9, 2 + 9, 2 / 2 3( 1 9$/ , ' W2 2( 9 , + 9 , / ' 2 8 7 W2 $ & 9$/ , ' W'+ ' , 1 W2 ) ) ( + )$673$*(02'( 5($' &<&/( W5 $ 6 & W5 3 9, + 5$ 6 9, / W& 6 + W& 5 W3& W5 &' 3 W& $6 W&/ & + W5 6 + W &$ 6W &/ & + W&3 W& $6 W & / & + W&3 W &3 9 , + & $6/ & $6+ 9 , / W$5 W$ 6 5 W5 $' W5 $ + W5 W $6 & W & $+ W $6 & W& $+ W $6 & $/ W & $+ 9, + $ ' ' 5 9, / & 2 / 80 1 5 2 : & 2 / 8 0 1 W5 W5 & 6 & 2 / 80 1 W5 & 6 &6 W5 & + 5 2 : W5 5 + W5 & + W5 & + 9 , + : ( 9 , / W$ W $ W &$ & W2 W & $& ) ) 92 + W2 $ & W2 ) ) W2 9$ / , ' ) ) 9$/ , ' ' $ 7 $ ' $ 7 $ W2 W & $& ) ) W&/= 9 $ / , ' 23(1 92 / $ W $& 3 W& / = W &/ = , 2 W$ $ $ W$ &3 W5$& W2 $ & W2 ) ) ' $ 7 $ W2 $& W2 2 3( 1 ) ) 9, + 2( 9, / '21 7 &$5( 81'() ,1(' (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 3XEOLFDWLRQ 'DWH 5HYLVLRQ )HE (OLWH07 0%$ )$673$*(02'( ($5/<:5,7( &<&/( W5 5 $6 9 W5 $6 & 3 , + 9 , / W&6 + W& 5 W3& W& $6 W & / &+ W5 & ' 3 W5 W& $6 W &/ & + W& 3 6 + W&$ 6 W& / & + W &3 W& 3 9 , + &$6/ & $6+ 9 , / W$5 W5 W$ 6 5 W5 W5 $' W$ 6 & W &$ + W$ 6 & $+ W$ 6 & W& $+ $/ W & $+ 9, + $' ' 5 & 2 / 8 01 5 2 : 9, / & 2 / 8 01 W &: W: W: & 6 W W: &+ W: & 6 W &: / W: & + W: : 3 5 2 : & 2 / 8 0 1 W& : / W: &6 & + W: 3 / 3 9, + : ( 9, / W: W '6 W5 & 5 W'+ : / 5 W' 6 W' + W'6 W'+ W' + 9, + ,2 9$/ , ' 9, / ' $7$ 9 $/ , ' ' $7 $ 9$/ , ' ' $7$ 9 , + 2( 9 , / )$673$*(02'( 5($':5,7( &<&/( /$7( :5,7( DQG 5($'02',)<:5,7( &<&/(6 W5 W5 $6 & 3 9, + 5$ 6 9, / W&6 + W& 5 W3&0 W& $6 W & / &+ W5 &' 3 W5 W &3 W& $6 W &/ & + W& 3 6 + W& 3 W& $6 W & / &+ 9, + & $ 6 / & $6 + 9, / W$5 W5 W $6 5 W5 W5 $' W& $+ W$ 6 & $+ W $6 & W $6 & W &$ + $/ W & $+ 9 , + $ ' ' 5 9 , / 5 2 : & 2 / 80 1 W5 & 2 / 80 1 & 2 / 8 0 1 W5 5 2 : W5 : ' : / &6 W &: W&:/ W: W$ W: 3 : ' W$: ' W&:' W&: ' W& : / W: 3 W$: W& : / 3 ' ' 9 , + : ( 9 , / W$ W5 W $ W$ $ $ W' + $& $ W'+ W'+ W $& 3 W'6 W &$ & W& $& W&/= W& / = W $& 3 W '6 W'6 W & $& W&/= 9 , 2 + , 2 9$ / , ' 9 , 2 / ' 2 8 7 ' , W2 W2 $& 9$ / , ' 9$ / , ' ' 1 2 8 7 9 $ / , ' ' , W2 ) ) W2 $& 9$ / , ' ' 1 2 8 7 9$ / , ' ' , 1 W2 ) ) W2 $& ) ) W2 ( + 9 , + 2( 9 , / '21 7 &$5( 81'() ,1(' (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 3XEOLFDWLRQ 'DWH 5HYLVLRQ )HE (OLWH07 0%$ 5$6 21/< 5()5(6+ &<&/( $a$ 2( :( $''5 W5 W5 9 W& 5 9 3 W5 W5 W$ 6 5 9 $' '5 9 9 , 2 9 W5 3 3& ,+ ,/ 9 & $ 6/ & $6 + & $6 ,+ ,/ 9 5$6 '21©7 &$5( ,+ ,/ $+ 5 2 : 5 2 : 2+ 2/ 2 3 (1 &%5 5()5(6+ &<&/( $a$ 2( W5 9 5 $6 9 W5 9 9 9 , 2 9 9 9 W53 W5 $6 3& W& 6 5 W&+ W5 5 3& W& 6 5 W&+ 5 ,+ ,/ 2+ 2/ 2 3(1 W5 W5 & + : ( W5$6 ,+ ,/ W&3 & $ 6/ & $6 + 3 '21©7 &$5( ,+ ,/ 65 W5 +5 W5 65 W5 + 5 1 2 7( ' 2 1 7 &$ 5 ( 8 1 ' ( ) , 1 ( ' 565 1RWH W 5+5 DQG W DUH IRU V\VWHP GHVLJQ UHIHUHQFH RQO\ 7KH &%5 5()5(6+ +RZHYHU :( ZLWK RWKHU '5$0V ZKLFK UHTXLUH (OLWH 0HPRU\ 7HFKQRORJ\ ,QF VKRXOG EH KHOG +,*+ DW :( +,*+ DW 5$6 :( VLJQDO LV DFWXDOO\ D ¦GRQ©W FDUH§ DW 5$6 WLPH GXULQJ D 5$6 WLPH GXULQJ D &%5 5()5(6+ WR HQVXUH FRPSDWLELOLW\ WLPH GXULQJ D &%5 5()5(6+ 3XEOLFDWLRQ 'DWH )HE 5HYLVLRQ (OLWH07 0%$ +,''(1 5()5(6+ &<&/( :( +,*+ 2( 5 ( $ ' 5 ( ) 5 ( 6+ W 5 $6 5$6 9 ,+ 9 ,/ W&5 3 & $6/ & $6 + 9 ,+ 9 ,/ W53 W5 6 + W5 & ' /2: W5 $ 6 W&+5 W$ 5 W 5 $/ W5 $ ' W$65 $ ' '5 9 ,+ 9 ,/ W $6 & W 5 $+ 5 2 : W & $+ & 2 / 8 0 1 W$$ W 5 $& W2 )) W &$ & W& / = ,2 9 2+ 9 2/ 2 3(1 9$/ , ' W 2 $& 2( 9 ,+ 9 ,/ ' $7 $ 23( 1 W2 )) W25' ' 2 1 7 & $ 5 ( 8 1 ' ( ) , 1 ( ' (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 3XEOLFDWLRQ 'DWH )HE 5HYLVLRQ (OLWH07 0%$ 3$&.,1* ',0(16,216 /($' 62-PLO 6(&7,21, ' E 0$; ( ( E '(7$,/ $ T $ F $ $ H '(7$,/ $ 5 T 0,1 ; ( 6(&7,21,, 6\PERO 'LPHQVLRQ LQ PP 'LPHQVLRQ LQ LQFK 0LQ 1RUP 0D[ 0LQ 1RUP 0D[ $ $ $ E E F H ' 5() 5() %6& (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 5() 5() %6& 6\PERO 'LPHQVLRQ LQ PP 'LPHQVLRQ LQ LQFK 0LQ 1RUP 0D[ 0LQ 1RUP 0D[ ( ( ( 5 E T H \ %6& q q 5() %6& %6& 5() q q 3XEOLFDWLRQ 'DWH 5HYLVLRQ %6& )HE (OLWH07 0%$ 3$&.,1* ',0(16,216 /($' 7623,, 6\PERO '5$0PLO 'LPHQVLRQ LQ PP 0LQ 1RUP $ 0D[ 'LPHQVLRQ LQ LQFK 0LQ 1RUP $ $ E E 0D[ F F ' =' 5() 5() ( ( / / 5() H %6& T 2q a q 5() (OLWH 0HPRU\ 7HFKQRORJ\ ,QF 5() %6& 2q a q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