Weather derivatives: Definitions Heating degree days (HDD): For each day this is max(o, 65-4)where a is the average of the highest and lowest temperature in°F Cooling Degree Days(CDD): For each day this is max( o, A-65)
At ordinary temperature, matter exists in one of three states Solid- has a shape and forms a surface Liquid- has no shape but forms a surface Gas-has no shape and forms no surface What do we mean by“ fluids”? F| uids are“ substances that flow