I am familiar with the Kinetic Theory of a gas, where atoms or molecules are in relatively high-speed, random motion, and the bulk properties of the gas are determined by aggregations of these particles - eg. averaging the particle velocities to determine bulk velocity.
I am curious of if, and how, this model applies to fluids, where the particles are much closer together, and intuitively shouldn't have nearly as much space to fly around and past each other. Can this theory still be applied, or is it no longer valid?
EDIT: Further reading shows that the kinetic theory is based on the Boltzmann equation, which assumes only binary collisions between particles (dilute). Can the Boltzmann equation be used to model liquids also? If so, does the binary collision assumption affect things?