A couple of things to note here: the 1,32 and 1,37 constants may be completely arbitary. The speed/drag curve I posted was something I found on a google search in order to illustrate the principles. It may or not be measurable or to scale.
Secondly, I said the hold speed on the FMC will be close to Vmd, not that is Vmd
pr definition.According to the FCTM: " Holding speeds in the FMC provide an optimum holding speed based upon fuel burn and speed capability; but are never lower than flaps up maneuver speed".