Mass transferMass transfer is the net movement of mass from one location (usually meaning stream, phase, fraction or component) to another. Mass transfer occurs in many processes, such as absorption, evaporation, drying, precipitation, membrane filtration, and distillation. Mass transfer is used by different scientific disciplines for different processes and mechanisms. The phrase is commonly used in engineering for physical processes that involve diffusive and convective transport of chemical species within physical systems.
Discounted cash flowThe discounted cash flow (DCF) analysis, in finance, is a method used to value a security, project, company, or asset, that incorporates the time value of money. Discounted cash flow analysis is widely used in investment finance, real estate development, corporate financial management, and patent valuation. Used in industry as early as the 1700s or 1800s, it was widely discussed in financial economics in the 1960s, and U.S. courts began employing the concept in the 1980s and 1990s.
Internal rate of returnInternal rate of return (IRR) is a method of quantifying the merits of a project or investment opportunity. The calculation is termed internal because it depends only on the cash flows of the investment being analyzed and excludes external factors, such as returns available elsewhere, the risk-free rate, inflation, the cost of capital, or financial risk. The method may be applied either ex-post or ex-ante. Applied ex-ante, the IRR is an estimate of a future annual rate of return.
Rayleigh numberIn fluid mechanics, the Rayleigh number (Ra, after Lord Rayleigh) for a fluid is a dimensionless number associated with buoyancy-driven flow, also known as free (or natural) convection. It characterises the fluid's flow regime: a value in a certain lower range denotes laminar flow; a value in a higher range, turbulent flow. Below a certain critical value, there is no fluid motion and heat transfer is by conduction rather than convection. For most engineering purposes, the Rayleigh number is large, somewhere around 106 to 108.
Biot numberThe Biot number (Bi) is a dimensionless quantity used in heat transfer calculations, named for the eighteenth-century French physicist Jean-Baptiste Biot (1774–1862). The Biot number is the ratio of the thermal resistance for conduction inside a body to the resistance for convection at the surface of the body. This ratio indicates whether the temperature inside a body varies significantly in space when the body is heated or cooled over time by a heat flux at its surface.
