• Explosives and Blasting
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• v.20 no.2
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• pp.21-31
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• 2002

We did bench blasting upon the natural rock which it's uniaxial compressive strength was about $1,420~1,476kgf/\textrm{cm}^2$. This is the results we inferred after measuring, analyzing the ground vibration velocity of the front and back direction from the free face of the bench blasting. We have to induce the square and cube root scaled equation and the general equation to guarantee confidence upon the data when analyzing the measurement data of the test blasting. The variable distance is in reverse proportion to the permitted ground vibration velocity. The shorter is the exploding point to a protection structure, the bigger is the reflection that the direction of the free face experts the ground vibration velocity, The ground vibration velocity front of the free face tends become reduced about 38~46% compare with back of the free face in the range that the permitted ground vibration velocity is 2.0~5.0mm/sec. In case of 2.0mm/sec, when a protection structure is within about 95m, the max. allowable charge weight per delay on positing front of the free face can be more used about 2.61 times than that on positing back of the free face, in case of 3.0mm/sec within about 78m more about 2.38 times, in case of 5.0mm/sec within 60m more about 2.10 times. In case of 2.0~5.0mm/sec when a protection structure is within about 200m front from the free face, the max. allowable charge weight per delay can become about 1.52 times than the case on back to the free face.

• Journal of the Computational Structural Engineering Institute of Korea
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• v.28 no.1
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• pp.9-18
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• 2015

In this paper, we verify the optimal topology design for heat conduction problems in steady stated which is obtained numerically using the adjoint design sensitivity analysis(DSA) method. In adjoint variable method(AVM), the already factorized system matrix is utilized to obtain the adjoint solution so that its computation cost is trivial for the sensitivity. For the topology optimization, the design variables are parameterized into normalized bulk material densities. The objective function and constraint are the thermal compliance of the structure and the allowable volume, respectively. For the experimental validation of the optimal topology design, we compare the results with those that have identical volume but designed intuitively using a thermal imaging camera. To manufacture the optimal design, we apply a simple numerical method to convert it into point cloud data and perform CAD modeling using commercial reverse engineering software. Based on the CAD model, we manufacture the optimal topology design by CNC.

• Journal of Intelligence and Information Systems
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• v.25 no.2
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• pp.39-55
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• 2019

Recently banks and large financial institutions have introduced lots of Robo-Advisor products. Robo-Advisor is a Robot to produce the optimal asset allocation portfolio for investors by using the financial engineering algorithms without any human intervention. Since the first introduction in Wall Street in 2008, the market size has grown to 60 billion dollars and is expected to expand to 2,000 billion dollars by 2020. Since Robo-Advisor algorithms suggest asset allocation output to investors, mathematical or statistical asset allocation strategies are applied. Mean variance optimization model developed by Markowitz is the typical asset allocation model. The model is a simple but quite intuitive portfolio strategy. For example, assets are allocated in order to minimize the risk on the portfolio while maximizing the expected return on the portfolio using optimization techniques. Despite its theoretical background, both academics and practitioners find that the standard mean variance optimization portfolio is very sensitive to the expected returns calculated by past price data. Corner solutions are often found to be allocated only to a few assets. The Black-Litterman Optimization model overcomes these problems by choosing a neutral Capital Asset Pricing Model equilibrium point. Implied equilibrium returns of each asset are derived from equilibrium market portfolio through reverse optimization. The Black-Litterman model uses a Bayesian approach to combine the subjective views on the price forecast of one or more assets with implied equilibrium returns, resulting a new estimates of risk and expected returns. These new estimates can produce optimal portfolio by the well-known Markowitz mean-variance optimization algorithm. If the investor does not have any views on his asset classes, the Black-Litterman optimization model produce the same portfolio as the market portfolio. What if the subjective views are incorrect? A survey on reports of stocks performance recommended by securities analysts show very poor results. Therefore the incorrect views combined with implied equilibrium returns may produce very poor portfolio output to the Black-Litterman model users. This paper suggests an objective investor views model based on Support Vector Machines(SVM), which have showed good performance results in stock price forecasting. SVM is a discriminative classifier defined by a separating hyper plane. The linear, radial basis and polynomial kernel functions are used to learn the hyper planes. Input variables for the SVM are returns, standard deviations, Stochastics %K and price parity degree for each asset class. SVM output returns expected stock price movements and their probabilities, which are used as input variables in the intelligent views model. The stock price movements are categorized by three phases; down, neutral and up. The expected stock returns make P matrix and their probability results are used in Q matrix. Implied equilibrium returns vector is combined with the intelligent views matrix, resulting the Black-Litterman optimal portfolio. For comparisons, Markowitz mean-variance optimization model and risk parity model are used. The value weighted market portfolio and equal weighted market portfolio are used as benchmark indexes. We collect the 8 KOSPI 200 sector indexes from January 2008 to December 2018 including 132 monthly index values. Training period is from 2008 to 2015 and testing period is from 2016 to 2018. Our suggested intelligent view model combined with implied equilibrium returns produced the optimal Black-Litterman portfolio. The out of sample period portfolio showed better performance compared with the well-known Markowitz mean-variance optimization portfolio, risk parity portfolio and market portfolio. The total return from 3 year-period Black-Litterman portfolio records 6.4%, which is the highest value. The maximum draw down is -20.8%, which is also the lowest value. Sharpe Ratio shows the highest value, 0.17. It measures the return to risk ratio. Overall, our suggested view model shows the possibility of replacing subjective analysts's views with objective view model for practitioners to apply the Robo-Advisor asset allocation algorithms in the real trading fields.