Traffic equation to get loop sensor occupancy from traffic density

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I am curious about the justification and validity of a traffic equation we are currently about to use within our research- and working group. It is about the relationship between an inductive loop sensors $s$ occupancy duration $OCC_s$, the traffic density $d$ and and max. traffic density $d_m$, all with respect to an approach of a junction (road segment):

$$OCC_s=\frac k k_m$$

Is this a valid equation?