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In transportation engineering, the K factor is defined as the proportion of annual average daily traffic occurring in an hour. [1] This factor is used for designing and analyzing the flow of traffic on highways. K factors must be calculated at a continuous count station, usually an "automatic traffic recorder", for a year before being determined.
Pressure and temperature sensors providing pulses can be used to determine mass flow, with division of the pulses by the K-factor, or multiplication with the inverse of the K-factor providing factored totalization, and rate indication. Furthermore, by dividing the pulse rate by the K-Factor, the volumetric throughput per unit time of the rate ...
In economics, total-factor productivity (TFP), also called multi-factor productivity, is usually measured as the ratio of aggregate output (e.g., GDP) to aggregate inputs. [1] Under some simplifying assumptions about the production technology, growth in TFP becomes the portion of growth in output not explained by growth in traditionally ...
It draws upon the logical framework of economics but adds to that the analytical power of mathematics and statistics. [1] Engineers seek solutions to problems, and along with the technical aspects, the economic viability of each potential solution is normally considered from a specific viewpoint that reflects its economic utility to a ...
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes.
K-factor (Elo rating system), a constant used in Elo rating system; K-factor (marketing), the growth rate of websites, apps, or a customer base; K-factor (sheet metal), the ratio of location of the neutral line to the material thickness; The K Factor, a fictional TV show within Harry Hill's TV Burp; Bondi k-factor, the "k" in Bondi k-calculus
A conditional factor demand function expresses the conditional factor demand as a function of the output level and the input costs. [1] The conditional portion of this phrase refers to the fact that this function is conditional on a given level of output, so output is one argument of the function.
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.