Continuous distillationContinuous distillation, a form of distillation, is an ongoing separation in which a mixture is continuously (without interruption) fed into the process and separated fractions are removed continuously as output streams. Distillation is the separation or partial separation of a liquid feed mixture into components or fractions by selective boiling (or evaporation) and condensation. The process produces at least two output fractions.
DistillationDistillation, or classical distillation, is the process of separating the components or substances from a liquid mixture by using selective boiling and condensation, usually inside an apparatus known as a still. Dry distillation is the heating of solid materials to produce gaseous products (which may condense into liquids or solids); this may involve chemical changes such as destructive distillation or cracking.
Fractionating columnA fractionating column or fractional column is equipment used in the distillation of liquid mixtures to separate the mixture into its component parts, or fractions, based on the differences in volatilities. Fractionating columns are used in small-scale laboratory distillations as well as large-scale industrial distillations. A laboratory fractionating column is a piece of glassware used to separate vaporized mixtures of liquid compounds with close volatility.
Volatility smileVolatility smiles are implied volatility patterns that arise in pricing financial options. It is a parameter (implied volatility) that is needed to be modified for the Black–Scholes formula to fit market prices. In particular for a given expiration, options whose strike price differs substantially from the underlying asset's price command higher prices (and thus implied volatilities) than what is suggested by standard option pricing models. These options are said to be either deep in-the-money or out-of-the-money.
Implied volatilityIn financial mathematics, the implied volatility (IV) of an option contract is that value of the volatility of the underlying instrument which, when input in an option pricing model (such as Black–Scholes), will return a theoretical value equal to the current market price of said option. A non-option financial instrument that has embedded optionality, such as an interest rate cap, can also have an implied volatility. Implied volatility, a forward-looking and subjective measure, differs from historical volatility because the latter is calculated from known past returns of a security.
Volatility (finance)In finance, volatility (usually denoted by σ) is the degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Implied volatility looks forward in time, being derived from the market price of a market-traded derivative (in particular, an option).
Fenske equationThe Fenske equation in continuous fractional distillation is an equation used for calculating the minimum number of theoretical plates required for the separation of a binary feed stream by a fractionation column that is being operated at total reflux (i.e., which means that no overhead product distillate is being withdrawn from the column). The equation was derived in 1932 by Merrell Fenske, a professor who served as the head of the chemical engineering department at the Pennsylvania State University from 1959 to 1969.
Vapor–liquid equilibriumIn thermodynamics and chemical engineering, the vapor–liquid equilibrium (VLE) describes the distribution of a chemical species between the vapor phase and a liquid phase. The concentration of a vapor in contact with its liquid, especially at equilibrium, is often expressed in terms of vapor pressure, which will be a partial pressure (a part of the total gas pressure) if any other gas(es) are present with the vapor. The equilibrium vapor pressure of a liquid is in general strongly dependent on temperature.
NumberA number is a mathematical object used to count, measure, and label. The original examples are the natural numbers 1, 2, 3, 4, and so forth. Numbers can be represented in language with number words. More universally, individual numbers can be represented by symbols, called numerals; for example, "5" is a numeral that represents the number five. As only a relatively small number of symbols can be memorized, basic numerals are commonly organized in a numeral system, which is an organized way to represent any number.
Mass numberThe mass number (symbol A, from the German word: Atomgewicht, "atomic weight"), also called atomic mass number or nucleon number, is the total number of protons and neutrons (together known as nucleons) in an atomic nucleus. It is approximately equal to the atomic (also known as isotopic) mass of the atom expressed in atomic mass units. Since protons and neutrons are both baryons, the mass number A is identical with the baryon number B of the nucleus (and also of the whole atom or ion).
AzeotropeAn azeotrope (əˈziːəˌtrəʊp) or a constant heating point mixture is a mixture of two or more components in fluidic states whose proportions cannot be altered or changed by simple distillation. This happens because when an azeotrope is boiled, the vapour has the same proportions of constituents as the unboiled mixture. Azeotropic mixture behavior is important for fluid separation processes. Each azeotrope has a characteristic boiling point.
Baryon numberIn particle physics, the baryon number is a strictly conserved additive quantum number of a system. It is defined as where n_{\rm q} is the number of quarks, and n_{\rm \overline q} is the number of antiquarks. Baryons (three quarks) have a baryon number of +1, mesons (one quark, one antiquark) have a baryon number of 0, and antibaryons (three antiquarks) have a baryon number of −1. Exotic hadrons like pentaquarks (four quarks, one antiquark) and tetraquarks (two quarks, two antiquarks) are also classified as baryons and mesons depending on their baryon number.
Lepton numberIn particle physics, lepton number (historically also called lepton charge) is a conserved quantum number representing the difference between the number of leptons and the number of antileptons in an elementary particle reaction. Lepton number is an additive quantum number, so its sum is preserved in interactions (as opposed to multiplicative quantum numbers such as parity, where the product is preserved instead). The lepton number is defined by where is the number of leptons and is the number of antileptons.
Atomic numberThe atomic number or nuclear charge number (symbol Z) of a chemical element is the charge number of an atomic nucleus. For ordinary nuclei composed of protons and neutrons, this is equal to the proton number (np) or the number of protons found in the nucleus of every atom of that element. The atomic number can be used to uniquely identify ordinary chemical elements. In an ordinary uncharged atom, the atomic number is also equal to the number of electrons.
Number theoryNumber theory (or arithmetic or higher arithmetic in older usage) is a branch of pure mathematics devoted primarily to the study of the integers and arithmetic functions. German mathematician Carl Friedrich Gauss (1777–1855) said, "Mathematics is the queen of the sciences—and number theory is the queen of mathematics." Number theorists study prime numbers as well as the properties of mathematical objects constructed from integers (for example, rational numbers), or defined as generalizations of the integers (for example, algebraic integers).
Curve fittingCurve fitting is the process of constructing a curve, or mathematical function, that has the best fit to a series of data points, possibly subject to constraints. Curve fitting can involve either interpolation, where an exact fit to the data is required, or smoothing, in which a "smooth" function is constructed that approximately fits the data. A related topic is regression analysis, which focuses more on questions of statistical inference such as how much uncertainty is present in a curve that is fit to data observed with random errors.
Vapor pressureVapour pressure or equilibrium vapor pressure is the pressure exerted by a vapor in thermodynamic equilibrium with its condensed phases (solid or liquid) at a given temperature in a closed system. The equilibrium vapor pressure is an indication of a liquid's thermodynamic tendency to evaporate. It relates to the balance of particles escaping from the liquid (or solid) in equilibrium with those in a coexisting vapor phase. A substance with a high vapor pressure at normal temperatures is often referred to as volatile.
Comma-separated valuesComma-separated values (CSV) is a format that uses commas to separate values. A CSV file stores tabular data (numbers and text) in plain text, where each line of the file typically represents one data record. Each record consists of the same number of fields, and these are separated by commas in the CSV file. If the field delimiter itself may appear within a field, fields can be surrounded with quotation marks . The CSV file format is one type of delimiter-separated file format.
Tab-separated valuesTab-separated values (TSV) is a simple, for storing tabular data. Records are separated by newlines, and values within a record are separated by tab characters. The TSV format is thus a delimiter-separated values format, similar to comma-separated values. TSV is a simple file format that is widely supported, so it is often used in data exchange to move tabular data between different computer programs that support the format. For example, a TSV file might be used to transfer information from a database to a spreadsheet.
