The basic unit of modulation rate or signaling speed; the carrier frequency. For bi-level signaling with no modulation, the baud is equals the bps rate. For modulated signaling, the baud is equal to or less than the bps. For voice grade telephone systems, the maximum signaling speed is 4800baud, while with complex modulation, the madimum information transfer rate, also called date rate, can be up to 53.33 Kbps, limited only by FCC regulations.

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