6,0 7,& 6 6 *Hwwlqj 6wduwhg Gydqfhg

Transcription

3UHIDFH 6,0 7,& 6 6 *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( % 4XLFN UHYLHZ /DWFKLQJ 3XOVH 2SHUDWHG 6ZLWFK 2II 'HOD\ 7LPHU 6HTXHQFHU /HDUQLQJ 0RUH SSHQGL[

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p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k 6LHPHQV * 7HFKQLFDO GDWD VXEMHFW WR FKDQJH

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

4XLFN UHYLHZ )HZ :RUGV RI 5HYLHZ ,Q WKH 6 *HWWWLQJ 6WDUWHG %HJLQQHUV \RX VDZ KRZ WKH FLUFXLW GLDJUDP IRU D FRQWDFWRUFRQWUROOHU UHODWHV WR WKH ODGGHU GLDJUDP XVHG E\ D SURJUDPPDEOH FRQWUROOHU ,W LV VLPSO\ D UHSUHVHQWDWLRQ ZLWK GLIIHUHQW V\PEROV ,Q DGGLWLRQ \RX ZHUH DOUHDG\ DEOH WR SURJUDP VPDOO ORJLF RSHUDWLRQV \RXUVHOI RX HYHQ OHDUQHG WR XVH WLPHUV &RPSDUH ZLWK 6HFWLRQ LQ WKH 6 *HWWLQJ 6WDUWHG %HJLQQHUV PDQXDO3RZHU UDLO 6 . , 4 6 . , *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( % 4

4XLFN UHYLHZ HUH DUH WKH %LWV HUH DUH WKH %LWV 7KH VPDOOHVW XQLW WR EH SURFHVVHG LV WKH ELW 7KH ELW FDQ DVVXPH WZR VWDWHV Ⴠ PHDQLQJ ELW VHW RU VWDWH LV WUXH Ⴠ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

4XLFN UHYLHZ 3RZHU IORZ LQ D ODGGHU GLDJUDP 3RZHU IORZ LQ D ODGGHU GLDJUDP , 7 ,Q WKLV H[DPSOH RXWSXW 4 ZRXOG EH DFWLYH RU LI WKH FRQWDFW DW , LV FORVHG RU ELW YDOXH 9 '& DW LQSXW , 1' VLPXOWDQHRXVO\ WKH WLPHU ELW 7 LV DFWLYH RU 4 ,QSXW , LV QRZ DQG FRQWDFW , LV FORVHG 7 LV QRW DFWLYH LQ WKH ILJXUH DQG LW LV D 4 UHPDLQV LQDFWLYH RU ,I WLPHU 7 LV DOVR 7 KDV HODSVHG WKH UHVXOW RI WKH 1' RSHUDWLRQ LV DQG VR RXWSXW 4 LV DOVR , 7 4 7KH RXWSXW ELW LV WKHQ DOVR WUXH LQ RWKHU ZRUGV LW WDNHV WKH YDOXH JUD\ EDFNJURXQG 7KLV FRUUHVSRQGV WR WKH / ' VWDWXV YLHZ WKDW \RX KDYH DOUHDG\ XVHG LQ WKH *HWWLQJ 6WDUWHG %HJLQQQHUV IRU GHEXJJLQJ \RXU SURJUDP *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

4XLFN UHYLHZ )LQGLQJ LQIRUPDWLRQ DERXW ODGGHU LQVWUXFWLRQV )LQGLQJ LQIRUPDWLRQ DERXW ODGGHU LQVWUXFWLRQV ) 1HWZRUN , 7 4 , ,I \RX ZDQW WR VHH WKH RQ OLQH KHOS IRU D FRQWDFW V\PERO RU IRU RWKHU IXQFWLRQV6HOHFW WKH FRQWDFW ZLWK WKH ER[ FXUVRU ZLWK D VLPSOH FOLFN RI WKH PRXVH DQG WKHQ SUHVV ) ವ LQ WKH /DGGHU 'LDJUDP / ' RU ವ LQ WKH )XQFWLRQ %ORFN 'LDJUDP )'% *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

4XLFN UHYLHZ 7KH 3/& VFDQ F\FOH 5HDGLQJ WKH LQSXWV 7KH 3/& VFDQ F\FOH 5HDGLQJ WKH LQSXWV OO 6,0 7,& SURJUDPPDEOH FRQWUROOHUV XVH D VFDQ F\FOH ,Q WKLV F\FOLFDO RSHUDWLRQ WKH VZLWFK VWDWHV DUH UHDG DW WKH LQSXWV DQG VWRUHG LQ WKH SURFHVV LQSXW LPDJH 3,, 7KLV LQIRUPDWLRQ LV LQWHUSUHWHG E\ \RXU FRQWURO SURJUDP ,QSXWV 3,, 3URFHVV LPDJH LQSXW WDEOH LQSXW UHJLVWHU1HWZRUN 0RWRU RQ RII67(3 SURJUDPವ %LW PHPRULHVವ 7LPHUVವ &RXQWHUVವ 1HWZRUN , 'LUHFWLRQ UHYHUVDO RI URWDWLRQ4 3,4 3URFHVV LPDJH RXWSXW WDEOH RXWSXW UHJLVWHU 2XWSXWV *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

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ི RQ WKH SUHYLRXV SDJH 7LPH IRU SURFHVVLQJ WKH FRPPDQGV FRUUHVSRQGLQJ WR SKDVHV ཱಭ RQ WKH SUHYLRXV SDJH ,Q DGGLWLRQ WKH SURJUDP ORJLF LV RQO\ SURFHVVHG ZKHQ WKH 3/& LV RSHUDWLQJ LQ RWKHU ZRUGV ZKHQ LW LV LQ 581 PRGH *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

4XLFN UHYLHZ 7KH 3/& VFDQ F\FOH 3URJUDP ORJLF 7KH 3/& VFDQ F\FOH 3URJUDP ORJLF 9ROWDJH DW LQSXW FKDQJHV IURP WR 96WDWH RI LQSXW , 1HWZRUN , 4 7LPH XQWLO SURFHVV LPDJH 3,, KDV VWDWXV ಯ ರ 3URFHVV LPDJH RI , 6WDWH RI RXWSXW 4 ཱ7LPH IRU ODGGHU ORJLF RSHUDWLRQV DQG PRGLILFDWLRQ RI WKH RXWSXW 6LJQDO VWDWH FKDQJHV DW WKH LQSXWV ZKLFK WDNH SODFH GXULQJ D VFDQ F\FOH DUH WUDQVIHUUHG WR WKH LQSXW UHJLVWHU LQ WKH QH[W VFDQ F\FOH 7KHUH WKH VLJQDO VWDWHV IRU WKLV VFDQ F\FOH DUH IUR]HQ 7KLV LV WKH SURFHVV LPDJH LQSXW WDEOH 3,, VHH ,Q WKH QH[W VFDQ F\FOH WKH WUDQVIHUUHG VWDWHV DUH FRPELQHG LQ DFFRUGDQFH ZLWK WKH ODGGHU ORJLF VHH ཱ DQG WKH RXWSXWV DUH XSGDWHG LQ DFFRUGDQFH ZLWK WKH UHVXOWV RI WKH ORJLF RSHUDWLRQV 2XWSXWV PRGLILHG RQO\ DW WKH HQG RI WKH QH[W VFDQ F\FOH *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

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

/DWFKLQJ ,QVHUWLQJ D QRUPDOO\ FORVHG FRQWDFW ,QVHUWLQJ D QRUPDOO\ FORVHG FRQWDFW Q 1& FRQWDFW LQWHUUXSWV WKH FXUUHQW IORZ LQ WKH ODGGHU GLDJUDP ZKHQ WKH LQSXW RU RXWSXW DVVLJQHG WR LW LV WUXH ,QVHUW WKH 1& FRQWDFW DV IROORZV, WDFW ཱ 1RWH 3UHVV WKH LQVHUW NH\ WR WRJJOH 21 WKH 2YHUZULWH 295 PRGH /RRN DW WKH 6WDWXV EDU RQ WKH ERWWRP ULJKW FRUQHU RI WKH 67(3 0LFUR :LQ ZLQGRZ WR PDNH VXUH WKH 295 PRGH LV VHW &OLFN WKH PRXVH WR PDUN WKH / ' GLDJUDP SRVLWLRQ ZLWK WKH ER[ FXUVRU WKDW VKRZV ZKHUH WKH 1& FRQWDFW ZLOO EH SODFHG 2SHQ WKH %LW /RJLF IROGHU LQ WKH ,QVWUXFWLRQ 7UHH DQG GRXEOH FOLFN WKH 1& FRQWDFW V\PERO 7KH 1& FRQWDFW LV SODFHG LQ WKH ODGGHU GLDJUDP ི1HWZRUN , , 4 4 )LQDOO\ HQWHU WKH GHVLUHG 1& FRQWDFW ELW DGGUHVV , LQ WKLV FDVH 7KLV LV GRQH E\ VHOHFWLQJ WKH DGGUHVV ILHOG ZLWK D PRXVH FOLFN DQG WKHQ W\SLQJ WKH DGGUHVV OZD\V WHUPLQDWH WH[W ILHOG LQSXWV E\ SUHVVLQJ (QWHU *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

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

/DWFKLQJ IDVWHU ZD\ WR FUHDWH ORJLF VWDWH ODWFKHV IDVWHU ZD\ WR FUHDWH ORJLF VWDWH ODWFKHV ,QVWHDG RI IHHGLQJ EDFN WKH RXWSXW DV LQ WKH SUHYLRXV H[DPSOH KHUH WKH IXQFWLRQV 6HW DQG 5HVHW DUH XVHG LQVWHDG DYH D ORRN DW WKH ODGGHU GLDJUDP EHORZ 6)RU WKH 6HW RSHUDWLRQ 6 D VZLWFKLQJ SXOVH DW , KDV WKH HIIHFW WKDW 4 LV DFWLYDWHG LQ D VWHDG\ VWDWH 1HWZRUN , , 4 4 5 6 6HW 5 5HVHW )RU WKH 5HVHW RSHUDWLRQ 5 D VZLWFKLQJ SXOVH DW , KDV WKH HIIHFW WKDW 4 LV GHDFWLYDWHG DJDLQ 7KH FRLOV 6 6HW 4 WR 5 5HVHW 4 WR DUH XVHG IUHTXHQWO\ LQ 3/& SURJUDPV WR VZLWFK RXWSXWV RU ELW PHPRULHV 21 RU 2)) WR D VWHDG\ VWDWH ZKHQ D VHULHV FRQQHFWHG FRQWDFW LV EULHIO\ RSHUDWHG , 4 , 4 6 5 6WHDG\ VWDWH VHWWLQJ RI YDOXH ZLWK 6 5HVHWWLQJ ZLWK 5 VHW RXWSXW RU PHPRU\ ELW UHPDLQV VHW XQWLO LW LV UHVHW E\ WKH 5 VWDWHPHQW ,I WKH VHW FRLO DQG WKH DVVRFLDWHG UHVHW FRLO RI DQ RXWSXW ERWK KDYH VLJQDO WKH ODVW RSHUDWLRQ LQ WKH SURJUDP WDNHV SULRULW\ /DVW RSHUDWLRQ LQ F\FOH KDV SULRULW\ *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

/DWFKLQJ 0DNLQJ D 6HW 5HVHW QHWZRUN 0DNLQJ D 6HW 5HVHW QHWZRUN 7R PDNH VXUH \RX DUH XVLQJ WKH OHDVW QXPEHU RI NH\VWURNHV DQG PRXVH FOLFNV WR FUHDWH WKH / ' QHWZRUNV GR WKH IROORZLQJ 6HOHFW WKH PHQX FRPPDQG 7RROV ! 2SWLRQV 6HOHFW WKH 3URJUDP (GLWRU WDE 9HULI\ WKH (QDEOH RSHUDQG HGLWLQJ DIWHU SODFLQJ LQVWUXFWLRQ FKHFNER[ LV FKHFNHG HQDEOHG RX KDYH DOUHDG\ OHDUQHG KRZ WR HQWHU WKH 1RUPDOO\ 2SHQ FRQWDFWV , DQG , 1HWZRUN , 4 6 , 4 5 IWHU PDUNLQJ WKH GHVLUHG / ' ILHOG VHOHFW WKH %LW /RJLF IROGHU ZLWK D VLQJOH PRXVH FOLFN IURP WKH OLVW IRU RSHUDWLRQ IDPLOLHV 7KHQ GRXEOH FOLFN 6HW RU 5HVHW IURP WKH OLVW RI %LW /RJLF RSHUDWLRQV ,Q WKH DOUHDG\ VHOHFWHG DGGUHVV ILHOG HQWHU WKH RXWSXW DGGUHVV \RX ZDQW 4 LQ WKLV FDVH 6HOHFW WKH ORZHU ELW ILHOG DQG HQWHU WKH QXPEHU RI ELWV WR VHW VWDUWLQJ IURP DGGUHVV 4 , 4 6 4 6 *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

/DWFKLQJ 6DIHW\ 7LS RZ WR FRQWURO D PDFKLQH VKXWGRZQ ZKHQ D ZLUH EUHDNV 6DIHW\ 7LS RZ WR FRQWURO D PDFKLQH VKXWGRZQ ZKHQ D ZLUH EUHDNV %HFDXVH WKH FLUFXLW XVHV D 1& VZLWFK DV WKH LQSXW WR WKH 5HVHW ORJLF D EURNHQ ZLUH RQ WKDW LQSXW IRUFHV D UHVHW 6ZLWFK ZLWK 1& FRQWDFW WKDW VXSSOLHV WKH VLJQDO ZKHQ RSHUDWHG 1HWZRUN , 4 4 ,Q / ' WKLV VLJQDO LV UHYHUVHG E\ WKH 1& FRQWDFW , 7KLV PHDQV WKDW LI \RX RSHUDWH WKH VZLWFK 6 4 LV UHVHW 6 , 4 66 6 , , 5 9 1RWH 6DIHW\ QRWHV x ,Q WKH DERYH H[DPSOH DQ 1& VZLWFK 6 ZDV XVHG IRU UHVHWWLQJ :KHQ , LV RSHUDWHG RXWSXW 4 LV VHW ZLWK D VWHDG\ VWDWH ,I WKHUH LV 9 DW , WKH 1& FRQWDFW VXSSOLHV WKH VWDWH LQ / ' 2XWSXW 4 LV QRW UHVHW 7KH / ' SRZHU IORZ LV LQWHUUXSWHG DQG WKH FRLO IRU UHVHWWLQJ LV GHDFWLYDWHG ,I WKHUH LV QR VLJQDO 9 DW , 6 LV RSHQ WKH 1& FRQWDFW RI , LQ / ' DQG WKH RXWSXW LV UHVHW :KHQ DQ 1& VZLWFK LV XVHG DW , WKH ODWFKLQJ RXWSXW 4 LV UHVHW VZLWFKHG RII DJDLQ RQ HLWKHU RI WKH IROORZLQJ FRQGLWLRQV ದ ,I VZLWFK 6 LV RSHUDWHG , ದ ,I WKHUH LV D EUHDN LQ WKH FRQQHFWLQJ FDEOH EHWZHHQ , DQG WKH 1& VZLWFK (YHQ LQ WKH HYHQW RI ZLUH EUHDN LW LV JXDUDQWHHG WKDW D SODQW FRPSRQHQW ZLOO RSHUDWH LQ D VDIH VWDWH IRU H[DPSOH D PRWRU LV VZLWFKHG RII x 7KH RSHUDWLRQ 5HVHW 4 QHWZRUN LV H[HFXWHG DIWHU WKH RSHUDWLRQ 6HW 4 7KLV PHDQV WKDW LQ WKH HYHQW RI ERWK VZLWFKHV EHLQJ RSHUDWHG VLPXOWDQHRXVO\ FOHDULQJ WKH ODWFK WDNHV SULRULW\ ,Q 67(3 0LFUR :,1 RSHQ WKH H[HUFLVH H[DPSOH KUBSUB PZS DQG WHVW WKH IXQFWLRQV *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

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ಯWUXHರ, ,I WKH VZLWFK UHPDLQV FORVHG RU RSHQ QR RXWSXW FKDQJH RFFXUV 9 ಯXQWUXHರಯWUXHರ4 ಯXQWUXHರ *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

3XOVH 2SHUDWHG 6ZLWFK 6ROXWLRQ 2YHUYLHZ 6ROXWLRQ 2YHUYLHZ %HIRUH VKRZLQJ \RX WKH VWHS E\ VWHS VROXWLRQ RI WKH WDVN ZH ZLOO VKRZ \RX WKH ILQLVKHG VROXWLRQ WR SURYLGH \RX ZLWK DQ RYHUYLHZ 'HWHFW ZKHWKHU D FKDQJH RI VWDWH IURP WR SRVLWLYH HGJH KDV WDNHQ SODFH DW , ,I RXWSXW 4 LV ELW PHPRU\ 0 LV VHW WKLV IODJV WKDW 4 LQ 1HWZRUN LV WR EHFRPH ಯ5HYHUVLQJರ WKH VWDWH1HWZRUN , 4 0 64 0 3 1HWZRUN 0 ROG VWDWHQHZ VWDWH4 0 0 ಯ ರಯ ರಯ ರ54 0 0 ಯ ರಯ ರಯ ರ4 VVLJQ WKH VWDWH RI 0 WR RXWSXW 4 ,I RXWSXW 4 LV ELW PHPRU\ 0 LV UHVHW WKLV IODJV WKDW 4 LQ 1HWZRUN LV WR EHFRPH *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

3XOVH 2SHUDWHG 6ZLWFK (GJH GHWHFWLRQ (GJH GHWHFWLRQ 7KH PRPHQW RI WUDQVLWLRQ RI D FRQWDFW LQSXW RXWSXW IURP RSHQ WR FORVHG RU IURP IDOVH WR WUXH LV UHIHUUHG WR DV WKH ULVLQJ RU SRVLWLYH HGJH , &RUUHVSRQGLQJO\ WKH WUDQVLWLRQ IURP FORVHG WR RSHQ RU IURP WUXH WR IDOVH LV UHIHUUHG WR DV WKH IDOOLQJ RU QHJDWLYH HGJH 9 ಯWUXHರ 9 ಯXQWUXHರ 7KH WZR %LW /RJLF IXQFWLRQV 3 DQG 1 FDQ GHWHFW ULVLQJ DQG IDOOLQJ HGJHV 9 ಯWUXHರ 9 ಯXQWUXHರ, ,Q RXU H[DPSOH ZH XVH WKH 3 IXQFWLRQ DV IROORZV , D3V,QSXW VLJQDODಯ ರಯ ರSRVLWLYH HGJH And this is what the— P — function outputsignal looks like.SRVLWLYH HGJHRXWSXW VLJQDO ಯ ರVಯ ರ)RU RQH VFDQ F\FOH ZH JHW D RU D SRZHU IORZ LQ WKH ODGGHU GLDJUDP *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

3XOVH 2SHUDWHG 6ZLWFK ([DPSOHV RI HGJH GHWHFWLRQ ([DPSOHV RI HGJH GHWHFWLRQ 7KH FRQWDFW ဟ3ဗ GHWHFWV ULVLQJ HGJHV DQG LV FORVHG IRU WKH GXUDWLRQ RI RQH VFDQ F\FOH ZKHQ WKH VHULHV FRQQHFWHG FRQWDFW FKDQJHV IURP XQWUXH WR WUXH &RUUHVSRQGLQJO\ WKH FRQWDFW ဟ1ဗ GHWHFWV IDOOLQJ HGJHV DQG LV FORVHG IRU WKH GXUDWLRQ RI RQH VFDQ F\FOH LQ WKH HYHQW RI FKDQJH IURP WUXH WR XQWUXH 3,Q RXU 7ZR ZD\ 6ZLWFK ဟ3ဗ LV XVHG WR SDVV RQ D VLJQDO WR WKH VXEVHTXHQW ORJLF RSHUDWLRQV RQO\ DW WKH PRPHQW WKDW WKH EXWWRQ DW , LV SUHVVHG QG WKLV LV KRZ \RX HQWHU LW 1 ,Q 67(3 0LFUR :,1 RSHQ WKH H[HUFLVH SURMHFW KBSUB PZS IURP GLVNHWWH 7KLV SURMHFW LV DOVR LQFRPSOHWH DQG ZLOO EH ILQLVKHG VWHS E\ VWHS ཱི 8VH D PRXVH FOLFN WR SRVLWLRQ WKH ER[ FXUVRU ZKHUH WKH 3 FRQWDFW ZLOO EH SODFHG 6HOHFW WKH %LW /RJLF IROGHU ZLWK D VLQJOH PRXVH FOLFN IURP WKH OLVW IRU RSHUDWLRQ IDPLOLHV 'RXEOH FOLFN WKH 3RVLWLYH 7UDQVLWLRQ RU 3 FRQWDFW IURP WKH OLVW WKDW DSSHDUV *HWWLQJ 6WDUWHG GYDQFHG 7UDLQLQJ 'RFXPHQWV ( %

3XOVH 2SHUDWHG 6ZLWFK %LW PHPRU\ 0 DGGUHVVHV %LW PHPRU\ 0 DGGUHVVHV RX FDQ XVH ELW PHPRULHV IRU WKH SXOVH RSHUDWHG VZLWFK EULHI H[DPSOH ZLOO VHUYH KHUH WR VKRZ \RX KRZ WR ZRUN ZLWK WKHP ,QVWHDG RI EHLQJ XVHG DV DQ RXWSXW WKH ELW PHPRU\ 0 LV XVHG DV D VWRUDJH ORFDWLRQ ZLWKLQ WK

, 4 7 ,q wklv h[dpsoh rxwsxw 4 zrxog eh dfwlyh ru li wkh frqwdfw dw , lv forvhg ru elw ydoxh 9 '& dw lqsxw , 1' vlpxowdqhrxvo\ wkh wlphu elw 7 lv dfwlyh ru ,qsxw , lv qrz dqg frqwdfw , lv forvhg 7 lv qrw dfwlyh lq wkh iljxuh dqg lw lv d 4 uhpdlqv lqdfwlyh ru , 4 7