INDUSRIAL RADIOGRAPHY Research Paper Example | Topics and Well Written Essays - 750 words

INDUSRIAL RADIOGRAPHY - Research Paper Example Non destructive testing is a special technique for observing products or materials for any internal defect. Since X Rays and Gamma rays have huge capability to penetrate into the material with a non destructive effect therefore the above two radiations are used for the reason of non destructive testing. The inception of industrial radiography is tracked back to 1895 when X-rays were discovered from a discharge tube by the collision of cathode rays on anti-cathode material. This was the first hallmark when type of electromagnetic radiations was discovered, then after the phenomenon of radioactivity was too comprehended. Then both X-rays (by product of action of cathode rays on anticathode material) and Gamma rays (exhibited from radio active material) are used for industrial applications. In the early stages radium was used for gamma rays in industries however with the discovery of new isotopes of Cs (Cesium-137) and Co (Cobalt-60), the usage of radium was decreased and replaced with new discovered isotopes. However industrial radiography should not be confused with nuclear physics (i.e. bombarding radiations to split an atom into daughter components). Industrial Radiography specifically deals with the analysis on industrial products and materials. 1. Important Applications Of Industrial Radiography Industrial radiography is used for different testing purposes in industries. The applications vary from analyzing defects in products, analyzing the strength of materials after a post assembly operation, air port security, cargo scanning etc. Usually welds on pressurized pipes, vessels, structures and containers are tested on vast scale in industries through industrial radiography. Moreover metal surfaces, machined parts and metal walls are usually tested from radiography. In addition to the above usages ceramics that are utilized in aerospace and aviation industries are tested on regular basis through industrial radiography. Through industrial Radiography anything c an be graphed easily whether it’s a solid flat, curved or any other formed material. For pipes’ weld testing, a radiographer placed the radiographic emitting source inside the pipe while on outer side of the pipe the weld area is covered with a film so that radiographic patterns can be recorded. The penetrated radiations will pass through the weld and it will identify about any defect that might be left in the weld through the traces left on film. However it should be highly considered that the direction of the beam must be normal to that of the surface that is targeted for radiography. The use of industrial radiography is growing; all non-intrusive products in Cargo are also checked by a special X-ray machine. Further studies are in progress to devise any new advancement such as dual energy X-ray radiography in order to optimize this technology in more productive manner. 2. Medical Radiography Medical radiography is a medical diagnosis tool that uses the radiographic radiation to radiograph the patient’s physical and internal skeleton structure. Medical radiography uses both ionizing radiation and non ionizing radiation. There are few hazards that are associated with ionizing radiation to the human body. There are different ways of reducing these dangerous hazards. The level of exposure of these radiations is actually the main concern; level of exposure can be kept down by decreasing time in radiographic exposure to human

Modern pricing models Essay Example | Topics and Well Written Essays - 500 words

Modern pricing models - Essay Example A geometric Brownian motion (GBM), or an exponential Brownian motion, refers to a stochastic process that runs continuously over time in which case the logarithm of the randomly varying quantity follows a Wiener process, or the Brownian motion with a drift. According to Vose (2008), the Brownian motion is a significant example of the stochastic processes that satisfy a stochastic differential equation (SDE). Most applications of Brownian motion incorporate, in particular, mathematical finance, especially in consideration of the model stock prices, such as is the case with Black-Scholes model. As such, the geometric Brownian motion is a core building block of modern finance. This is particularly in the case of the Black Scholes model whereby the underlying stock price is assumedly in line with the principles and expectations of the GBM dynamics (Vose 2008, p.37). When an investor wants to make an investment in the binary options, the most important element that he or she should account for is the fluctuation in the price that a particular commodity or good is likely to experience over a specific period of the trading process. As such, once an investor is able to track the volatility of the price changes with some degree of accuracy, they get to a better elevated position to determine the right the price of an option at the point when it expires, thereby increasing significantly his or her chances of being in the money at the right time. Therefore, such an investor will be in a better position to collect the highest level of return on his or her investment (Vose 2008, p.115). According to Benth (2004), it is quite fortunate that top economists conducted a great deal of research in the field of Wiener motion, such as Fischer Black and Myron Scholes who came up with the infamous Black-Scholes formula instrumental in predicting the market volatility of a stock. The geometric Brownian motion forms an important element of this formula, and